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.
Champions Oncology's Sloan Ratio for the quarter that ended in Jan. 2024 was -11.23%.
As of Jan. 2024, Champions Oncology has a Sloan Ratio of -11.23%, indicating there is a warning stage of accrual build up.
Champions Oncology Sloan Ratio % Historical Data
The historical data trend for Champions Oncology's Sloan Ratio % can be seen below:
* 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 Champions Oncology's Sloan Ratio %
For the Biotechnology subindustry, Champions Oncology'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.
Champions Oncology's Sloan Ratio % Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Champions Oncology's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Champions Oncology's Sloan Ratio % falls into.
Champions Oncology 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.
Champions Oncology's Sloan Ratio for the fiscal year that ended in Apr. 2023 is calculated as
Champions Oncology's Net Income for the trailing twelve months (TTM) ended in Jan. 2024 was -2.561 (Apr. 2023 ) + -2.566 (Jul. 2023 ) + -2.071 (Oct. 2023 ) + -2.53 (Jan. 2024 ) = $-9.73 Mil.
Champions Oncology's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jan. 2024 was -0.692 (Apr. 2023 ) + -3.991 (Jul. 2023 ) + 0.589 (Oct. 2023 ) + -0.919 (Jan. 2024 ) = $-5.01 Mil.
Champions Oncology's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jan. 2024 was -0.76 (Apr. 2023 ) + -0.668 (Jul. 2023 ) + -0.153 (Oct. 2023 ) + -0.126 (Jan. 2024 ) = $-1.71 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.
Champions Oncology (NAS:CSBR) 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 Jan. 2024, Champions Oncology has a Sloan Ratio of -11.23%, indicating there is a warning stage of accrual build up.
Champions Oncology Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Champions Oncology's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Champions Oncology (Champions Oncology) Business Description
Champions Oncology Inc is a us-based company which is engaged in the development and sale of advanced technology solutions and products to personalize the development and use of oncology drugs. The company operates through one segment namely Personalized Oncology Solutions (POS) and Translational Oncology Solutions (TOS). Its POS business assists physicians in developing personalized treatment options for their cancer patients through tumor specific data obtained from drug panels and related personalized oncology services. The TOS business assists pharmaceutical and biotechnology companies with their drug development process and offers studies or license tumors for use in studies.
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