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.
Quicksilver Resources's Sloan Ratio for the quarter that ended in Sep. 2015 was -86.22%.
As of Sep. 2015, Quicksilver Resources has a Sloan Ratio of -86.22%, indicating there is a warning stage of accrual build up.
Quicksilver Resources Sloan Ratio % Historical Data
The historical data trend for Quicksilver Resources'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 Quicksilver Resources's Sloan Ratio %
For the Oil & Gas E&P subindustry, Quicksilver Resources'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.
Quicksilver Resources's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Quicksilver Resources's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Quicksilver Resources's Sloan Ratio % falls into.
Quicksilver Resources 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.
Quicksilver Resources's Sloan Ratio for the fiscal year that ended in Dec. 2014 is calculated as
Quicksilver Resources's Net Income for the trailing twelve months (TTM) ended in Sep. 2015 was -25.894 (Dec. 2014 ) + -106.895 (Mar. 2015 ) + -153.091 (Jun. 2015 ) + -164.133 (Sep. 2015 ) = €-450.0 Mil.
Quicksilver Resources's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2015 was -2.146 (Dec. 2014 ) + 81.303 (Mar. 2015 ) + 22.164 (Jun. 2015 ) + -0.887 (Sep. 2015 ) = €100.4 Mil.
Quicksilver Resources's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2015 was -16.834 (Dec. 2014 ) + -12.802 (Mar. 2015 ) + -2.612 (Jun. 2015 ) + -4.672 (Sep. 2015 ) = €-36.9 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.
Quicksilver Resources (FRA:QSR) 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. 2015, Quicksilver Resources has a Sloan Ratio of -86.22%, indicating there is a warning stage of accrual build up.
Quicksilver Resources Sloan Ratio % Related Terms
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Quicksilver Resources (FRA:QSR) Business Description
Quicksilver Resources Inc was organized as a Delaware corporation in 1997 and became a public company in 1999. It is an independent oil and gas company engaged in the acquisition, exploration, development and production of onshore oil and natural gas in North America and are based in Fort Worth, Texas. The Company focuses on unconventional reservoirs where hydrocarbons may be found in challenging geological conditions, such as fractured shales and coalbeds. Its producing oil and natural gas properties in the United States are principally located in Texas and in Canada in Alberta and British Columbia. Its three core development areas include: Barnett Shale; Horn River; and Horseshoe Canyon. Additionally, It has an oil exploration opportunity in the Delaware basin in western Texas. The Company competes for acquisitions of prospective oil and natural gas properties and oil and gas reserves. Its oil and natural gas operations are focused onshore in North America, in basins containing unconventional reservoirs with predictable, long-lived production. Its current production and development operations are concentrated in its three core areas: the Barnett Shale, Horn River and Horseshoe Canyon. The Company compete for acquisitions of prospective oil and natural gas properties and oil and natural gas reserves. It also compete for drilling rigs and equipment used to drill for and produce oil and natural gas. The Company is subject to a number of federal, state, provincial and local laws and regulations, whose purpose is to protect the health and safety of workers, both generally and within Its industry.
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