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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.
ServiceSource International's Sloan Ratio for the quarter that ended in Mar. 2022 was -9.58%.
As of Mar. 2022, ServiceSource International has a Sloan Ratio of -9.58%, indicating the company is in the safe zone and there is no funny business with accruals.
The historical data trend for ServiceSource International'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.
ServiceSource International Annual Data | |||||||||||||||||||||
Trend | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | |||||||||||
Sloan Ratio % | Get a 7-Day Free Trial | -11.79 | -110.32 | -13.02 | -7.26 | -10.87 |
ServiceSource International Quarterly Data | ||||||||||||||||||||
Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | |
Sloan Ratio % | Get a 7-Day Free Trial | -14.31 | -12.81 | -11.63 | -10.87 | -9.58 |
For the Information Technology Services subindustry, ServiceSource International'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 Software industry and Technology sector, ServiceSource International's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where ServiceSource International'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.
ServiceSource International'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 ) | |
= | (-14.721 | - | 3.605 | |
- | -3.932) | / | 132.448 | |
= | -10.87% |
ServiceSource International'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 ) | |
= | (-10.268 | - | 5.247 | |
- | -3.654) | / | 123.87 | |
= | -9.58% |
ServiceSource International's Net Income for the trailing twelve months (TTM) ended in Mar. 2022 was -5.091 (Jun. 2021 ) + -3.391 (Sep. 2021 ) + 2.596 (Dec. 2021 ) + -4.382 (Mar. 2022 ) = $-10.3 Mil. ServiceSource International's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2022 was -0.46 (Jun. 2021 ) + 3.884 (Sep. 2021 ) + -0.356 (Dec. 2021 ) + 2.179 (Mar. 2022 ) = $5.2 Mil. ServiceSource International's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2022 was -1.073 (Jun. 2021 ) + -0.59 (Sep. 2021 ) + -1.25 (Dec. 2021 ) + -0.741 (Mar. 2022 ) = $-3.7 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.
ServiceSource International (NAS:SREV) 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 Mar. 2022, ServiceSource International has a Sloan Ratio of -9.58%, indicating the company is in the safe zone and there is no funny business with accruals.
Thank you for viewing the detailed overview of ServiceSource International's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Edenbrook Capital, Llc | 10 percent owner | 116 RADIO CIRCLE, SUITE 202, MT. KISCO NY 10549 |
Chad William Lyne | officer: CFO | C/O SERVICESOURCE INTERNATIONAL, INC. 707 17TH STREET, 25TH FLOOR DENVER CO 80202 |
Michael Damien Naughton | officer: EVP | C/O SERVICESOURCE INTERNATIONAL, INC. 707 17TH STREET, 25TH FLOOR DENVER CO 80200 |
Gary B Moore | director | 170 WEST TASMAN DRIVE, SAN JOSE CA 95134 |
Robin L Smith | director | C/O PHASE III MEDICAL, INC., 330 SOUTH SERVICE ROAD, SUITE 120, MELVILLE NY 11747 |
Jonathan Brolin | 10 percent owner | 2 DEPOT PLAZA, 4TH FLOOR, BEDFORD HILLS NY 10507 |
Bomba Jane L Okun | director | 4TH FLOOR, ROPEMAKER PLACE, 25 ROPEMAKER STREET, LONDON X0 EC2Y 9LY |
Andrew M Baker | director | C/O SERVICESOURCE INTERNATIONAL, INC. 707 17TH STREET, 25TH FLOOR DENVER CO 80202 |
John A Meyer | director | |
John R Harris | director | 2201 CEDEAR SPRINGS RD, SUITE 701, DALLAS TX 75201 |
John R Ferron | director | 1463 CENTRE POINTE DRIVE MILPITAS CA 95035 |
Richard Walker | director | C/O SERVICESOURCE INTERNATIONAL, INC., 717 17TH STREET, 5TH FLOOR, DENVER CO 80202 |
Deborah A. Dunnam | officer: EVP, COO | C/O SERVICESOURCE INTERNATIONAL, INC., 717 17TH STREET, 5TH FLOOR, DENVER CO 80202 |
Bruce Dunlevie | director | 2480 SAND HILL ROAD, SUITE 200, MENLO PARK CA 94025 |
Christopher Carrington | director, officer: Chief Executive Officer | C/O SERVICESOURCE INTERNATIONAL, INC. 760 MARKET STREET, #400 SAN FRANCISCO CA 94102 |
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