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.
MI Technovation Bhd's Sloan Ratio for the quarter that ended in Sep. 2023 was -1.35%.
As of Sep. 2023, MI Technovation Bhd has a Sloan Ratio of -1.35%, indicating the company is in the safe zone and there is no funny business with accruals.
MI Technovation Bhd Sloan Ratio % Historical Data
The historical data trend for MI Technovation Bhd'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 MI Technovation Bhd's Sloan Ratio %
For the Semiconductor Equipment & Materials subindustry, MI Technovation Bhd'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.
MI Technovation Bhd's Sloan Ratio % Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, MI Technovation Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where MI Technovation Bhd's Sloan Ratio % falls into.
MI Technovation Bhd 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.
MI Technovation Bhd's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
MI Technovation Bhd's Net Income for the trailing twelve months (TTM) ended in Sep. 2023 was 17.111 (Dec. 2022 ) + 6.397 (Mar. 2023 ) + 22.733 (Jun. 2023 ) + 14.158 (Sep. 2023 ) = RM60.4 Mil.
MI Technovation Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2023 was 26.966 (Dec. 2022 ) + 12.034 (Mar. 2023 ) + 16.277 (Jun. 2023 ) + 6.331 (Sep. 2023 ) = RM61.6 Mil.
MI Technovation Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2023 was -5.972 (Dec. 2022 ) + -14.503 (Mar. 2023 ) + 5.736 (Jun. 2023 ) + 29.555 (Sep. 2023 ) = RM14.8 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.
MI Technovation Bhd (XKLS:5286) 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 Sep. 2023, MI Technovation Bhd has a Sloan Ratio of -1.35%, indicating the company is in the safe zone and there is no funny business with accruals.
MI Technovation Bhd Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of MI Technovation Bhd's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
MI Technovation Bhd (XKLS:5286) Business Description
MI Technovation Bhd is an investment holding company. The group is involved in design, development, manufacture, and sale of wafer level chip scale packaging sorting machines with inspection and testing capabilities for the semiconductor industry. Its reportable segments are as follows: 1) Semiconductor equipment business unit is Involved in the manufacturing and sales of the semiconductor manufacturing equipment, paired with smart factory automation solutions for Industrial 4.0, together with the provision of maintenance services and technical support for these machines, as well as the sale of related spare parts and components. 2) Semiconductor material business unit is involved in the manufacturing and sales of solder spheres. 3) Others includes investment holding and other activities.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKLS:5286 has been successfully added to your 