Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
As of Mar. 2016, Alexza Pharmaceuticals has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Alexza Pharmaceuticals Sloan Ratio % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Alexza Pharmaceuticals's Sloan Ratio %
For the Drug Manufacturers - Specialty & Generic subindustry, Alexza Pharmaceuticals's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Alexza Pharmaceuticals's Sloan Ratio % Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Alexza Pharmaceuticals's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Alexza Pharmaceuticals's Sloan Ratio % falls into.
Alexza Pharmaceuticals Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Alexza Pharmaceuticals's Sloan Ratio for the fiscal year that ended in Dec. 2015 is calculated as
Alexza Pharmaceuticals's Net Income for the trailing twelve months (TTM) ended in Mar. 2016 was -12.45 (Jun. 2015 ) + -5.438 (Sep. 2015 ) + -3.018 (Dec. 2015 ) + -3.362 (Mar. 2016 ) = $-24.27 Mil.
Alexza Pharmaceuticals's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2016 was -8.143 (Jun. 2015 ) + -7.467 (Sep. 2015 ) + -3.539 (Dec. 2015 ) + -4.253 (Mar. 2016 ) = $-23.40 Mil.
Alexza Pharmaceuticals's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2016 was 7.852 (Jun. 2015 ) + 3.503 (Sep. 2015 ) + 0 (Dec. 2015 ) + 0 (Mar. 2016 ) = $11.36 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Alexza Pharmaceuticals (OTCPK:ALXA) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2016, Alexza Pharmaceuticals has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Alexza Pharmaceuticals Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Alexza Pharmaceuticals's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Alexza Pharmaceuticals (Alexza Pharmaceuticals) Business Description
Alexza Pharmaceuticals Inc was incorporated in the state of Delaware on December 19, 2000 as FaxMed, Inc. In June 2001, it changed the name to Alexza Corporation and in December 2001 it became Alexza Molecular Delivery Corporation. In July 2005, it changed the name to Alexza Pharmaceuticals, Inc. It is a pharmaceutical company, engaged in the research, development and commercialization of novel proprietary products for the acute treatment of central nervous system conditions. ADASUVE is its only approved product & there is one product candidate in active development, AZ-002 (Staccato alprazolam), which is being developed for the treatment of acute repetitive seizures, sometimes called cluster seizures or ARS. ADASUVE, or Staccato loxapine, and its product candidates are based on its proprietary technology, the Staccato system. The Staccato system vaporizes an excipient-free drug to form a condensation aerosol that, when inhaled, allows for rapid systemic drug delivery. Because of the particle size of the aerosol, the drug is quickly absorbed through the deep lung into the bloodstream, providing speed of therapeutic onset that is comparable to intravenous, or IV, administration but with greater ease, patient comfort and convenience. The pharmaceutical and biotechnology industries are intensely competitive. Many pharmaceutical companies, biotechnology companies, public and private universities, government agencies and research organizations are actively engaged in research and development of products targeting the same markets as ADASUVE and its other product candidates. The names "Alexza Pharmaceuticals," "Alexza," "Staccato" and "ADASUVE" are trademarks of the Company. It helds 195 issued and allowed U.S. and international patents. The testing, manufacturing, labeling, advertising, promotion, distribution, export and marketing of the Company's product candidates are subject to extensive regulation by governmental authorities in the United States and other countries.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ALXA has been successfully added to your 