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.
Rogers Communications's Sloan Ratio for the quarter that ended in Dec. 2023 was 23.06%.
As of Dec. 2023, Rogers Communications has a Sloan Ratio of 23.06%, indicating there is a warning stage of accrual build up.
Rogers Communications Sloan Ratio % Historical Data
The historical data trend for Rogers Communications'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 Rogers Communications's Sloan Ratio %
For the Telecom Services subindustry, Rogers Communications'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.
Rogers Communications's Sloan Ratio % Distribution in the Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Rogers Communications's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Rogers Communications's Sloan Ratio % falls into.
Rogers Communications 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.
Rogers Communications's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Rogers Communications's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 373.456 (Mar. 2023 ) + 82.041 (Jun. 2023 ) + -73.165 (Sep. 2023 ) + 244.484 (Dec. 2023 ) = $627 Mil.
Rogers Communications's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 331.068 (Mar. 2023 ) + 1230.619 (Jun. 2023 ) + 1296.283 (Sep. 2023 ) + 1027.877 (Dec. 2023 ) = $3,886 Mil.
Rogers Communications's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -691.369 (Mar. 2023 ) + -13608.309 (Jun. 2023 ) + -702.091 (Sep. 2023 ) + -166.965 (Dec. 2023 ) = $-15,169 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.
Rogers Communications (NYSE:RCI) 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, Rogers Communications has a Sloan Ratio of 23.06%, indicating there is a warning stage of accrual build up.
Rogers Communications Sloan Ratio % Related Terms
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Rogers Communications (Rogers Communications) Business Description
Rogers Communications is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Its wireless business accounted for more than half of total revenue and has increasingly been providing a bigger portion of total company sales over the last several years. Rogers' cable segment, which provides about 40% of total revenue after acquiring Shaw, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays. Rogers' significant exposure to sports also includes ownership stakes in the Toronto Maple Leafs, Raptors, FC, and Argonauts.
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