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.
A8 New Media Group's Sloan Ratio for the quarter that ended in Dec. 2023 was 23.24%.
As of Dec. 2023, A8 New Media Group has a Sloan Ratio of 23.24%, indicating there is a warning stage of accrual build up.
A8 New Media Group Sloan Ratio % Historical Data
The historical data trend for A8 New Media Group'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 A8 New Media Group's Sloan Ratio %
For the Conglomerates subindustry, A8 New Media Group'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.
A8 New Media Group's Sloan Ratio % Distribution in the Conglomerates Industry
For the Conglomerates industry and Industrials sector, A8 New Media Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where A8 New Media Group's Sloan Ratio % falls into.
A8 New Media Group 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.
A8 New Media Group's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
A8 New Media Group's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 27.643 (Jun. 2023 ) + -0.902 (Dec. 2023 ) = HK$26.74 Mil.
A8 New Media Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 14.52 (Jun. 2023 ) + 17.747 (Dec. 2023 ) = HK$32.27 Mil.
A8 New Media Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -143.776 (Jun. 2023 ) + -292.19 (Dec. 2023 ) = HK$-435.97 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.
A8 New Media Group (HKSE:00800) 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 Dec. 2023, A8 New Media Group has a Sloan Ratio of 23.24%, indicating there is a warning stage of accrual build up.
A8 New Media Group Sloan Ratio % Related Terms
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A8 New Media Group (HKSE:00800) Business Description
A8 New Media Group Ltd is an investment holding company. It is organized into business units based on their services and has two reportable operating segments as follows: the cultural business segment engages in the provision of music-based entertainment, film and television production and game-related services in the People's Republic of China, and the Property Investment segment invests in properties for rental and management fee income in the People's Republic of China. Majority of the revenue derives from Property Investment segment.
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