Market Cap : 38.25 B | Enterprise Value : 39.45 B | PE Ratio : 52.93 | PB Ratio : 3.51 |
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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.
Illumina's Sloan Ratio for the quarter that ended in Mar. 2022 was 0.00%.
As of Mar. 2022, Illumina has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
The historical data trend for Illumina'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.
For the Diagnostics & Research subindustry, Illumina'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.
For the Medical Diagnostics & Research industry and Healthcare sector, Illumina's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Illumina's Sloan Ratio % falls into.
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.
Illumina's Sloan Ratio for the fiscal year that ended in Dec. 2021 is calculated as
Sloan Ratio | = | (Net Income (A: Dec. 2021 ) | - | Cash Flow from Operations (A: Dec. 2021 ) |
- | Cash Flow from Investing (A: Dec. 2021 )) | / | Total Assets (A: Dec. 2021 ) | |
= | (762 | - | 545 | |
- | -1069) | / | 15217 | |
= | 8.45% |
Illumina's Sloan Ratio for the quarter that ended in Mar. 2022 is calculated as
Sloan Ratio | = | (Net Income (TTM) | - | Cash Flow from Operations (TTM}) |
- | Cash Flow from Investing (TTM)) | / | Total Assets (Q: Mar. 2022 ) | |
= | (700 | - | 435 | |
- | -2519) | / | 15274 | |
= | 18.23% |
Illumina's Net Income for the trailing twelve months (TTM) ended in Mar. 2022 was 185 (Jun. 2021 ) + 317 (Sep. 2021 ) + 112 (Dec. 2021 ) + 86 (Mar. 2022 ) = $700 Mil. Illumina's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2022 was 253 (Jun. 2021 ) + -272 (Sep. 2021 ) + 282 (Dec. 2021 ) + 172 (Mar. 2022 ) = $435 Mil. Illumina's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2022 was 3 (Jun. 2021 ) + -2448 (Sep. 2021 ) + 0 (Dec. 2021 ) + -74 (Mar. 2022 ) = $-2,519 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.
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 Mar. 2022, Illumina has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Thank you for viewing the detailed overview of Illumina's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Flatley Jay T | director | 9885 TOWNE CENTRE DR SAN DIEGO CA 92121 |
Tousi Susan H | officer: SVP Product Development | 5200 ILLUMINA WAY SAN DIEGO CA 92122 |
Reeves Kathryne Gambrell | officer: SVP, Chief Marketing Officer | 5200 ILLUMINA WAY SAN DIEGO CA 92122 |
Goswami Joydeep | officer: SVP Corp Business Development | SUMITOMO FUDOSAN MITA TWIN BLDG EAST WING 4-2-8 SHIBAURA MINATO-KU TOKYO M0 1080023 |
Dadswell Charles | officer: SVP & General Counsel | 5200 ILLUMINA WAY SAN DIEGO CA 92122 |
Desouza Francis A | director, officer: President and CEO | 350 ELLIS STREET MOUNTAIN VIEW CA 94043 |
Van Oene Mark | officer: SVP Chief Commercial Officer | 5200 ILLUMINA WAY SAN DIEGO CA 92122 |
Ragusa Robert P | officer: SVP, Global Quality & Ops | PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: RAGUSA ROBERT P a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;} |
Mcginnis Karen K | officer: VP, Chief Accounting Officer | INSIGHT ENTERPRISES INC 1305 WEST AUTO DRIVE TEMPE AZ 85284 |
Hoyt Aimee L | officer: SVP, Chief People Officer | 5200 ILLUMINA WAY SAN DIEGO CA 92122 |
Ronaghi Mostafa | officer: SVP, Entrepreneurial Devlopmt | 9885 TOWNE CENTRE DRIVE SAN DIEGO CA 92121 |
Aravanis Alexander | officer: SVP, Chief Technology Officer | 5200 ILLUMINA WAY SAN DIEGO CA 92122 |
Siegel Susan E | director | 3000 SAND HILL ROAD BLDG 3 STE 290 MENLO PARK CA 94025 |
Thompson John Wendell | director | C/O MICROSOFT CORPORATION ONE MICROSOFT WAY REDMOND WA 98053 |
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