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.
Nipponnso Holdings's Sloan Ratio for the quarter that ended in Dec. 2023 was -0.03%.
As of Dec. 2023, Nipponnso Holdings has a Sloan Ratio of -0.03%, indicating the company is in the safe zone and there is no funny business with accruals.
Nipponnso Holdings Sloan Ratio % Historical Data
The historical data trend for Nipponnso Holdings'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 Nipponnso Holdings's Sloan Ratio %
For the Chemicals subindustry, Nipponnso Holdings'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.
Nipponnso Holdings's Sloan Ratio % Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Nipponnso Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Nipponnso Holdings's Sloan Ratio % falls into.
Nipponnso Holdings 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.
Nipponnso Holdings's Sloan Ratio for the fiscal year that ended in Mar. 2023 is calculated as
Nipponnso Holdings's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 154.716 (Mar. 2023 ) + 173.729 (Jun. 2023 ) + 162.258 (Sep. 2023 ) + 172.564 (Dec. 2023 ) = $663 Mil.
Nipponnso Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 596.517 (Mar. 2023 ) + 237.765 (Jun. 2023 ) + 367.723 (Sep. 2023 ) + 299.907 (Dec. 2023 ) = $1,502 Mil.
Nipponnso Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -255.214 (Mar. 2023 ) + -176.679 (Jun. 2023 ) + -207.603 (Sep. 2023 ) + -194.615 (Dec. 2023 ) = $-834 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.
Nipponnso Holdings (OTCPK:TYNPF) 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, Nipponnso Holdings has a Sloan Ratio of -0.03%, indicating the company is in the safe zone and there is no funny business with accruals.
Nipponnso Holdings Sloan Ratio % Related Terms
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Nipponnso Holdings (Nipponnso Holdings) Business Description
Nippon Sanso Holdings Group is the leading industrial gases manufacturer in Japan. The company's three main business domains are the industrial gases business, the electronics business, and the Thermos business. The company has a global presence with a majority of its revenue coming from the gas business in Japan. The industrial gases operation supplies the steelmaking, chemical, and automotive industries and provides medical products. The industrial gases domain dramatically expanded following the Praxair, Inc. acquisition that added a new business vertical. The electronics business has a supply chain in east Asia and is a hub for major semiconductor manufacturers.
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