PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) Sloan Ratio % : -1.05% (As of Dec. 2023)

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What is PJSC Mining & Metallurgical Co Norilsk Nickel Sloan Ratio %?

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.

PJSC Mining & Metallurgical Co Norilsk Nickel's Sloan Ratio for the quarter that ended in Dec. 2023 was -1.05%.

As of Dec. 2023, PJSC Mining & Metallurgical Co Norilsk Nickel has a Sloan Ratio of -1.05%, indicating the company is in the safe zone and there is no funny business with accruals.

PJSC Mining & Metallurgical Co Norilsk Nickel Sloan Ratio % Historical Data

The historical data trend for PJSC Mining & Metallurgical Co Norilsk Nickel'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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PJSC Mining & Metallurgical Co Norilsk Nickel Sloan Ratio % Chart

PJSC Mining & Metallurgical Co Norilsk Nickel Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Sloan Ratio %

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4.59

-15.51

9.00

19.47

-1.28

PJSC Mining & Metallurgical Co Norilsk Nickel 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 %	Get a 7-Day Free Trial															8.93	10.64	19.91	1.18	-1.05

Competitive Comparison of PJSC Mining & Metallurgical Co Norilsk Nickel's Sloan Ratio %

For the Other Industrial Metals & Mining subindustry, PJSC Mining & Metallurgical Co Norilsk Nickel'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.

PJSC Mining & Metallurgical Co Norilsk Nickel's Sloan Ratio % Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, PJSC Mining & Metallurgical Co Norilsk Nickel's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where PJSC Mining & Metallurgical Co Norilsk Nickel's Sloan Ratio % falls into.

PJSC Mining & Metallurgical Co Norilsk Nickel 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.

PJSC Mining & Metallurgical Co Norilsk Nickel's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: Dec. 2023 )	-	Cash Flow from Operations (A: Dec. 2023 )
	-	Cash Flow from Investing (A: Dec. 2023 ))	/	Total Assets (A: Dec. 2023 )
	=	(215108.326	-	516837.455
	-	-274479.668)	/	2127623.463
	=	-1.28%

PJSC Mining & Metallurgical Co Norilsk Nickel's Sloan Ratio for the quarter that ended in Dec. 2023 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Dec. 2023 )
	=	(207833.38	-	491465.853
	-	-261326.71)	/	2127623.463
	=	-1.05%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. PJSC Mining & Metallurgical Co Norilsk Nickel's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 65089.516 (Jun. 2023 ) + 142743.864 (Dec. 2023 ) = ₽207,833 Mil.
PJSC Mining & Metallurgical Co Norilsk Nickel's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 227001.715 (Jun. 2023 ) + 264464.138 (Dec. 2023 ) = ₽491,466 Mil.
PJSC Mining & Metallurgical Co Norilsk Nickel's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -117680.546 (Jun. 2023 ) + -143646.164 (Dec. 2023 ) = ₽-261,327 Mil.

PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) 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 Dec. 2023, PJSC Mining & Metallurgical Co Norilsk Nickel has a Sloan Ratio of -1.05%, indicating the company is in the safe zone and there is no funny business with accruals.

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PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) » Definitions » Sloan Ratio %

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Traded in Other Exchanges

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Address

15, 1st Krasnogvardeysky Drive, Moscow, RUS, 123100

Website

https://www.nornickel.com

PJSC Mining & Metallurgical Co Norilsk Nickel is a metal and mining company engaged in activities such as exploration, extraction, refining of ore and nonmetallic minerals, and sale of base and precious minerals. The company is organized into seven operating business segments: GMK Group, South Cluster, KGMK Group, NN Harjavalta, GRK Bystrinskoye, other mining, and other nonmetallurgical. The majority of the company's revenue is derived from the GMK Group segment which includes mining, processing and other metallurgy operations, and sale of precious metals. More than half the company's consolidated revenue is earned from the sale of metals to customers in Europe.

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