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.
Loxley PCL's Sloan Ratio for the quarter that ended in Mar. 2024 was 0.75%.
As of Mar. 2024, Loxley PCL has a Sloan Ratio of 0.75%, indicating the company is in the safe zone and there is no funny business with accruals.
Loxley PCL Sloan Ratio % Historical Data
The historical data trend for Loxley PCL'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 Loxley PCL's Sloan Ratio %
For the Conglomerates subindustry, Loxley PCL'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.
Loxley PCL's Sloan Ratio % Distribution in the Conglomerates Industry
For the Conglomerates industry and Industrials sector, Loxley PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Loxley PCL's Sloan Ratio % falls into.
Loxley PCL 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.
Loxley PCL's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Loxley PCL's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 154.896 (Jun. 2023 ) + 50.302 (Sep. 2023 ) + 112.392 (Dec. 2023 ) + 111.252 (Mar. 2024 ) = ฿429 Mil.
Loxley PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was -78.476 (Jun. 2023 ) + 420.493 (Sep. 2023 ) + -87.683 (Dec. 2023 ) + -307.847 (Mar. 2024 ) = ฿-54 Mil.
Loxley PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 88.346 (Jun. 2023 ) + 12.404 (Sep. 2023 ) + 298.002 (Dec. 2023 ) + -14.906 (Mar. 2024 ) = ฿384 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.
Loxley PCL (BKK:LOXLEY) 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. 2024, Loxley PCL has a Sloan Ratio of 0.75%, indicating the company is in the safe zone and there is no funny business with accruals.
Loxley PCL Sloan Ratio % Related Terms
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Loxley PCL is a Thailand-based company engaged in the principal businesses of trading and turnkey contract sales of telecommunication equipment, rail transport engineering and other systems including installation. The active subsidiaries are mainly engaged in their core businesses of trading, sales and services of information technologies and automated customer services machines for financial transactions, sales of consumer products, providing foodservice and other services. The company operates in the segments of Information Technology Business Group; Services Business Group; Energy Business Group; Network Solutions Business Group; Trading Business Group; and Special and other businesses. The group is managed and operates principally in Thailand.
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