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.
As of Mar. 2019, SunCoke Energy Partners LP has a Sloan Ratio of -0.56%, indicating the company is in the safe zone and there is no funny business with accruals.
SunCoke Energy Partners LP Sloan Ratio % Historical Data
* 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 SunCoke Energy Partners LP's Sloan Ratio %
For the Coking Coal subindustry, SunCoke Energy Partners LP'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.
SunCoke Energy Partners LP's Sloan Ratio % Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, SunCoke Energy Partners LP's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where SunCoke Energy Partners LP's Sloan Ratio % falls into.
SunCoke Energy Partners LP 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.
SunCoke Energy Partners LP's Net Income for the trailing twelve months (TTM) ended in Mar. 2019 was 18.8 (Jun. 2018 ) + 15.3 (Sep. 2018 ) + 11.2 (Dec. 2018 ) + 4.5 (Mar. 2019 ) = $49.8 Mil.
SunCoke Energy Partners LP's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2019 was 9.3 (Jun. 2018 ) + 72.6 (Sep. 2018 ) + 14.8 (Dec. 2018 ) + 25.7 (Mar. 2019 ) = $122.4 Mil.
SunCoke Energy Partners LP's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2019 was -18.4 (Jun. 2018 ) + -15.4 (Sep. 2018 ) + -16.2 (Dec. 2018 ) + -13.4 (Mar. 2019 ) = $-63.4 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.
SunCoke Energy Partners LP (NYSE:SXCP) 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 Mar. 2019, SunCoke Energy Partners LP has a Sloan Ratio of -0.56%, indicating the company is in the safe zone and there is no funny business with accruals.
SunCoke Energy Partners LP Sloan Ratio % Related Terms
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SunCoke Energy Partners LP (SunCoke Energy Partners LP) Business Description
SunCoke Energy Partners LP produces coke used in the blast furnace production of steel. It also provides handling and mixing services to steel, coke, electric utility, coal producing, and other manufacturing based customers. The company's operating facilities are located in the states of Illinois, Indiana, Ohio, and Virginia across the United States, and international operations in Brazil and India. At the firm's domestic and export terminals, the support system for the coal producers and end users of steel, coke and power industries is available.
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