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.
Jacksonville Bancorp's Sloan Ratio for the quarter that ended in Sep. 2015 was 4.43%.
As of Sep. 2015, Jacksonville Bancorp has a Sloan Ratio of 4.43%, indicating the company is in the safe zone and there is no funny business with accruals.
Jacksonville Bancorp Sloan Ratio % Historical Data
The historical data trend for Jacksonville Bancorp'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 Jacksonville Bancorp's Sloan Ratio %
For the Banks - Regional subindustry, Jacksonville Bancorp'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.
Jacksonville Bancorp's Sloan Ratio % Distribution in the Banks Industry
For the Banks industry and Financial Services sector, Jacksonville Bancorp's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Jacksonville Bancorp's Sloan Ratio % falls into.
Jacksonville Bancorp 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.
Jacksonville Bancorp's Sloan Ratio for the fiscal year that ended in Dec. 2014 is calculated as
Jacksonville Bancorp's Net Income for the trailing twelve months (TTM) ended in Sep. 2015 was 0.588 (Dec. 2014 ) + 0.914 (Mar. 2015 ) + 3.109 (Jun. 2015 ) + 0.992 (Sep. 2015 ) = $5.60 Mil.
Jacksonville Bancorp's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2015 was 0.844 (Dec. 2014 ) + 0.917 (Mar. 2015 ) + 1.237 (Jun. 2015 ) + 1.863 (Sep. 2015 ) = $4.86 Mil.
Jacksonville Bancorp's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2015 was -8.133 (Dec. 2014 ) + 6.41 (Mar. 2015 ) + -12.828 (Jun. 2015 ) + -7.104 (Sep. 2015 ) = $-21.66 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.
Jacksonville Bancorp (NAS:JAXB) 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 Sep. 2015, Jacksonville Bancorp has a Sloan Ratio of 4.43%, indicating the company is in the safe zone and there is no funny business with accruals.
Jacksonville Bancorp Sloan Ratio % Related Terms
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Jacksonville Bancorp (Jacksonville Bancorp) Business Description
Jacksonville Bancorp Inc was incorporated under the laws of the State of Florida on October 24, 1997 for the purpose of organizing the Bank. It is a one-bank holding company owning 100% of the outstanding shares of the Bank. The Company's only business is the ownership and operation of the Bank, which opened for business on May 28, 1999. The Bank is a Florida state-chartered commercial bank, and its deposits are insured by the FDIC. Its market area is all of Duval County mainly the Southside, Westside, Arlington, Mandarin and Downtown areas of Jacksonville and Jacksonville Beach, Florida, in addition to surrounding communities within the St. Johns, Clay and Nassau counties. Jacksonville is the largest city by area in the United States covering 747 square miles. Duval County has a strong commercial and industrial base, which has been steadily expanding in recent years. Financial institutions compete with one another for deposits. The Company is in competition with existing area financial institutions, including commercial banks and savings institutions, insurance companies, consumer finance companies, brokerage houses, mortgage banking companies, credit unions, and other business entities which target traditional banking markets, through offices, mail, the internet, mobile devices and otherwise. Its primary business segment is community banking and consists of attracting deposits from the general public and using such deposits and other sources of funds to originate commercial business loans, commercial real estate loans, residential mortgage loans, and a variety of consumer loans. The Company is regulated by the Federal Reserve Board under the Federal Bank Holding Company Act.
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