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.
Mahachai Hospital PCL's Sloan Ratio for the quarter that ended in Mar. 2024 was 0.97%.
As of Mar. 2024, Mahachai Hospital PCL has a Sloan Ratio of 0.97%, indicating the company is in the safe zone and there is no funny business with accruals.
Mahachai Hospital PCL Sloan Ratio % Historical Data
The historical data trend for Mahachai Hospital 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 Mahachai Hospital PCL's Sloan Ratio %
For the Medical Care Facilities subindustry, Mahachai Hospital 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.
Mahachai Hospital PCL's Sloan Ratio % Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Mahachai Hospital PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Mahachai Hospital PCL's Sloan Ratio % falls into.
Mahachai Hospital 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.
Mahachai Hospital PCL's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Mahachai Hospital PCL's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 75.07 (Jun. 2023 ) + 99.437 (Sep. 2023 ) + 54.621 (Dec. 2023 ) + 40.427 (Mar. 2024 ) = ฿270 Mil.
Mahachai Hospital PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was -6.104 (Jun. 2023 ) + 222.509 (Sep. 2023 ) + 222.575 (Dec. 2023 ) + -42.342 (Mar. 2024 ) = ฿397 Mil.
Mahachai Hospital PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -34.998 (Jun. 2023 ) + -97.693 (Sep. 2023 ) + -77.036 (Dec. 2023 ) + -35.462 (Mar. 2024 ) = ฿-245 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.
Mahachai Hospital PCL (BKK:M-CHAI) 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, Mahachai Hospital PCL has a Sloan Ratio of 0.97%, indicating the company is in the safe zone and there is no funny business with accruals.
Mahachai Hospital PCL Sloan Ratio % Related Terms
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Mahachai Hospital PCL (BKK:M-CHAI) Business Description
Mahachai Hospital PCL is a Thailand-based company offering medical services. It operates in the hospital and medical trading business. The company is engaged in operating the private hospital under the name of Mahachai hospital. It offers various medical services, including urology clinic, blood and cancer clinic, surgery, obstetrics and gynecology, ear, nose and throat clinic, general clinic, dental and implants center, skin and beauty center, and physical department. The Group operates in Thailand only.
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