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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.
Texas Mineral Resources's Sloan Ratio for the quarter that ended in Feb. 2024 was 0.00%.
Warning Sign:
When sloan ratio (-117.01)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
As of Feb. 2024, Texas Mineral Resources 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 Texas Mineral Resources'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.
Texas Mineral Resources Annual Data | |||||||||||||||||||||
Trend | Aug14 | Aug15 | Aug16 | Aug17 | Aug18 | Aug19 | Aug20 | Aug21 | Aug22 | Aug23 | |||||||||||
Sloan Ratio % | Get a 7-Day Free Trial | - | - | -1.61 | 19.58 | -117.01 |
Texas Mineral Resources Quarterly Data | ||||||||||||||||||||
May19 | Aug19 | Nov19 | Feb20 | May20 | Aug20 | Nov20 | Feb21 | May21 | Aug21 | Nov21 | Feb22 | May22 | Aug22 | Nov22 | Feb23 | May23 | Aug23 | Nov23 | Feb24 | |
Sloan Ratio % | Get a 7-Day Free Trial | - | - | - | - | - |
For the Other Industrial Metals & Mining subindustry, Texas Mineral Resources'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 Metals & Mining industry and Basic Materials sector, Texas Mineral Resources's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Texas Mineral Resources'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.
Texas Mineral Resources's Sloan Ratio for the fiscal year that ended in Aug. 2023 is calculated as
Sloan Ratio | = | (Net Income (A: Aug. 2023 ) | - | Cash Flow from Operations (A: Aug. 2023 ) |
- | Cash Flow from Investing (A: Aug. 2023 )) | / | Total Assets (A: Aug. 2023 ) | |
= | (-2.592 | - | -1.31 | |
- | 0.513) | / | 1.534 | |
= | -117.01% |
Texas Mineral Resources's Sloan Ratio for the quarter that ended in Feb. 2024 is calculated as
Sloan Ratio | = | (Net Income (TTM) | - | Cash Flow from Operations (TTM)) |
- | Cash Flow from Investing (TTM)) | / | Total Assets (Q: Feb. 2024 ) | |
= | (-1.713 | - | -0.819 | |
- | 0) | / | 1.23 | |
= | -72.68% |
Texas Mineral Resources's Net Income for the trailing twelve months (TTM) ended in Feb. 2024 was -0.952 (May. 2023 ) + -0.399 (Aug. 2023 ) + -0.221 (Nov. 2023 ) + -0.141 (Feb. 2024 ) = $-1.71 Mil. Texas Mineral Resources's Cash Flow from Operations for the trailing twelve months (TTM) ended in Feb. 2024 was -0.2 (May. 2023 ) + -0.304 (Aug. 2023 ) + -0.175 (Nov. 2023 ) + -0.14 (Feb. 2024 ) = $-0.82 Mil. Texas Mineral Resources's Cash Flow from Investing for the trailing twelve months (TTM) ended in Feb. 2024 was 0 (May. 2023 ) + 0 (Aug. 2023 ) + 0 (Nov. 2023 ) + 0 (Feb. 2024 ) = $0.00 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.
Texas Mineral Resources (OTCPK:TMRC) 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 Feb. 2024, Texas Mineral Resources 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 Texas Mineral Resources's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Cecil C Wall | director | 3 RIVERWAY, STE. 1800, HOUSTON TX 77056 |
Anthony G. Marchese | director | 15 BADEAU AVENUE, SUMMIT X1 07901 |
Lavern K Lund | director | 5875 LANDERBROOK DRIVE, SUITE 220, CLEVELAND OH 44124 |
Clark Moseley | director | PO BOX 2466, SIOUX FALLS SD 57101 |
Kevin A. Francis | director | 553 SAGE CIRCLE, HIGHLANDS RANCH CO 80126 |
Peter Jr. Denetclaw | director | 6040 SANTA CLARA DR, FARMINGTON NM 87402 |
Chris Mathers | officer: CFO | 7 COPANA PT., ROCKPORT TX 78382 |
Daniel E Gorski | director, officer: Chief Executive Officer | 7 COPANO PT. RD., ROCKPORT TX 78382 |
Nicholas Pingitore | director | C/O TEXAS RARE EARTH RESOURCES CORP., 304 INVERNESS WAY SOUTH, SUITE 365, ENGLEWOOD CO 80112 |
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Edward A Collery | other: Member of 10% owner group | C/O SC FUNDAMENTAL LLC, 747 THIRD AVENUE, 27TH FLOOR, NEW YORK NY 10017 |
Sc Fundamental Llc Employee Savings & Profit Sharing Plan | 10 percent owner | C/O SC FUNDAMENTAL LLC, 747 THIRD AVENUE, 27TH FLOOR, NEW YORK NY 10017 |
Peter M Collery | director | C/O SC FUNDAMENTAL LLC, 747 THIRD AVENUE 27TH FLOOR, NEW YORK NY 10017 |
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