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.
Dynavax Technologies's Sloan Ratio for the quarter that ended in Dec. 2023 was 4.71%.
As of Dec. 2023, Dynavax Technologies has a Sloan Ratio of 4.71%, indicating the company is in the safe zone and there is no funny business with accruals.
Dynavax Technologies Sloan Ratio % Historical Data
The historical data trend for Dynavax Technologies'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 Dynavax Technologies's Sloan Ratio %
For the Drug Manufacturers - Specialty & Generic subindustry, Dynavax Technologies'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.
Dynavax Technologies's Sloan Ratio % Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Dynavax Technologies's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Dynavax Technologies's Sloan Ratio % falls into.
Dynavax Technologies 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.
Dynavax Technologies's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Dynavax Technologies's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was -24.332 (Mar. 2023 ) + 3.431 (Jun. 2023 ) + 14.293 (Sep. 2023 ) + 0.219 (Dec. 2023 ) = $-6.4 Mil.
Dynavax Technologies's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 27.622 (Mar. 2023 ) + 28.046 (Jun. 2023 ) + 31.129 (Sep. 2023 ) + 13.766 (Dec. 2023 ) = $100.6 Mil.
Dynavax Technologies's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -52.334 (Mar. 2023 ) + 24.722 (Jun. 2023 ) + -106.074 (Sep. 2023 ) + -20.242 (Dec. 2023 ) = $-153.9 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.
Dynavax Technologies (NAS:DVAX) 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 Dec. 2023, Dynavax Technologies has a Sloan Ratio of 4.71%, indicating the company is in the safe zone and there is no funny business with accruals.
Dynavax Technologies Sloan Ratio % Related Terms
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Dynavax Technologies (Dynavax Technologies) Business Description
Dynavax Technologies Corp is a biopharmaceutical company. The company focuses on leveraging the power of the body's innate and adaptive immune responses through toll-like receptor stimulation. Its current product candidates are being investigated for use in multiple cancer indications as a vaccine for the prevention of HEPLISAV-B (Hepatitis B Vaccine (Recombinant), Adjuvanted), operates in the business segment of discovery, development, and commercialization of novel vaccines. Its Toll-like Receptor Immune Modulation Platform technology plays a vital role in innate immunity and subsequent adaptive immunity. The company generates the vast majority of its revenue from the sale of its CpG 1018 product and HEPLISAV-B.
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