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.
Thaicom PCL's Sloan Ratio for the quarter that ended in Mar. 2024 was 1.08%.
As of Mar. 2024, Thaicom PCL has a Sloan Ratio of 1.08%, indicating the company is in the safe zone and there is no funny business with accruals.
Thaicom PCL Sloan Ratio % Historical Data
The historical data trend for Thaicom 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 Thaicom PCL's Sloan Ratio %
For the Communication Equipment subindustry, Thaicom 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.
Thaicom PCL's Sloan Ratio % Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Thaicom PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Thaicom PCL's Sloan Ratio % falls into.
Thaicom 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.
Thaicom PCL's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Thaicom PCL's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 456.605 (Jun. 2023 ) + 113.596 (Sep. 2023 ) + -306.127 (Dec. 2023 ) + 287.634 (Mar. 2024 ) = ฿552 Mil.
Thaicom PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 152.861 (Jun. 2023 ) + 58.1 (Sep. 2023 ) + 109.839 (Dec. 2023 ) + -43.509 (Mar. 2024 ) = ฿277 Mil.
Thaicom PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 19.1 (Jun. 2023 ) + -18.664 (Sep. 2023 ) + -85.993 (Dec. 2023 ) + 207.811 (Mar. 2024 ) = ฿122 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.
Thaicom PCL (BKK:THCOM) 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, Thaicom PCL has a Sloan Ratio of 1.08%, indicating the company is in the safe zone and there is no funny business with accruals.
Thaicom PCL Sloan Ratio % Related Terms
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Thaicom PCL is engaged in transponder services for domestic & international communications, sale of the user terminal, broadband content services, sale of direct television equipment, internet data center services, internet services, satellite uplink-downlink services, broadcasting television service, telecommunication, printing, publishing of business telephone directories, banner advertising, telephone network services, mobile contents, and engineering & development services on communication technology & electronics. It operates in three segments: Satellite services, Internet services & media, and Telephone networks. The company has operations in Thailand, Singapore, Lao PDR, Australia, New Zealand, Mauritius, the British Virgin Islands, Japan, and India.
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