China Yongda Automobiles Services Holdings (HKSE:03669) Sloan Ratio %

: -0.05% (As of Jun. 2023)

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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.

China Yongda Automobiles Services Holdings's Sloan Ratio for the quarter that ended in Jun. 2023 was -0.05%.

As of Jun. 2023, China Yongda Automobiles Services Holdings has a Sloan Ratio of -0.05%, indicating the company is in the safe zone and there is no funny business with accruals.

China Yongda Automobiles Services Holdings Sloan Ratio % Historical Data

The historical data trend for China Yongda Automobiles Services Holdings'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.

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China Yongda Automobiles Services Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Sloan Ratio %

-1.42

-7.01

-7.14

-4.16

China Yongda Automobiles Services Holdings Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Sloan Ratio %																-7.02	-4.42	-4.45	-0.05	-

Competitive Comparison

For the Auto & Truck Dealerships subindustry, China Yongda Automobiles Services Holdings'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.

China Yongda Automobiles Services Holdings Sloan Ratio % Distribution

For the Vehicles & Parts industry and Consumer Cyclical sector, China Yongda Automobiles Services Holdings's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where China Yongda Automobiles Services Holdings's Sloan Ratio % falls into.

China Yongda Automobiles Services Holdings 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.

China Yongda Automobiles Services Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as

Sloan Ratio	=	(Net Income (A: Dec. 2022 )	-	Cash Flow from Operations (A: Dec. 2022 )
	-	Cash Flow from Investing (A: Dec. 2022 ))	/	Total Assets (A: Dec. 2022 )
	=	(1591.809	-	4726.468
	-	-1625.089)	/	36253.843
	=	-4.16%

China Yongda Automobiles Services Holdings's Sloan Ratio for the quarter that ended in Jun. 2023 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Jun. 2023 )
	=	(1293.024	-	2408.661
	-	-1098.18)	/	32796.111
	=	-0.05%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. China Yongda Automobiles Services Holdings's Net Income for the trailing twelve months (TTM) ended in Jun. 2023 was 848.354 (Dec. 2022 ) + 444.67 (Jun. 2023 ) = HK$1,293 Mil.
China Yongda Automobiles Services Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2023 was 1206.135 (Dec. 2022 ) + 1202.526 (Jun. 2023 ) = HK$2,409 Mil.
China Yongda Automobiles Services Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2023 was -955.303 (Dec. 2022 ) + -142.877 (Jun. 2023 ) = HK$-1,098 Mil.

China Yongda Automobiles Services Holdings (HKSE:03669) 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.

According to How to Beat the Market with the Sloan Ratio:

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 Jun. 2023, China Yongda Automobiles Services Holdings has a Sloan Ratio of -0.05%, indicating the company is in the safe zone and there is no funny business with accruals.

China Yongda Automobiles Services Holdings Sloan Ratio % Related Terms

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China Yongda Automobiles Services Holdings (HKSE:03669) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » China Yongda Automobiles Services Holdings Ltd (HKSE:03669) » Definitions » Sloan Ratio %

Comparable Companies

Traded in Other Exchanges

CYYHF:USA 1CY:Germany

Address

The Center, 99 Queen’s Road Central, Unit 5708, 57th Floor, Central, Hong Kong, HKG

Website

http://www.ydauto.com.cn

China Yongda Automobiles Services Holdings Ltd is a Chinese company involved in automobile sales service, automobile finance, and automobile rental. The company's reportable segments are as follows, 1) Passenger vehicle sales and services which includes the sale of passenger vehicles and provision of after-sales services, including repair and maintenance services, certain auxiliary passenger vehicles sales-related services and provision of other passenger vehicles-related services; and 2) Automobile operating lease services. The majority of the company's revenue is earned through the Passenger vehicle sales and services segment.

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