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.
Alibaba Pictures Group's Sloan Ratio for the quarter that ended in Sep. 2023 was -1.53%.
As of Sep. 2023, Alibaba Pictures Group has a Sloan Ratio of -1.53%, indicating the company is in the safe zone and there is no funny business with accruals.
Alibaba Pictures Group Sloan Ratio % Historical Data
* 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 Alibaba Pictures Group's Sloan Ratio %
For the Entertainment subindustry, Alibaba Pictures 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.
Alibaba Pictures Group's Sloan Ratio % Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Alibaba Pictures Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Alibaba Pictures Group's Sloan Ratio % falls into.
Alibaba Pictures 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.
Alibaba Pictures Group's Sloan Ratio for the fiscal year that ended in Mar. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Alibaba Pictures Group's Net Income for the trailing twelve months (TTM) ended in Sep. 2023 was -306.177 (Mar. 2023 ) + 497.508 (Sep. 2023 ) = HK$191 Mil.
Alibaba Pictures Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2023 was 465.09 (Mar. 2023 ) + 1316.997 (Sep. 2023 ) = HK$1,782 Mil.
Alibaba Pictures Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2023 was -299.656 (Mar. 2023 ) + -1001.51 (Sep. 2023 ) = HK$-1,301 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.
Alibaba Pictures Group (HKSE:01060) 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. 2023, Alibaba Pictures Group has a Sloan Ratio of -1.53%, indicating the company is in the safe zone and there is no funny business with accruals.
Alibaba Pictures Group Sloan Ratio % Related Terms
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Alibaba Pictures Group (HKSE:01060) Business Description
Alibaba Pictures Group Ltd a subsidiary of the Alibaba Group, is a diversified media company headquartered in China that operates in the entertainment industry. The company has three business segments: Technology, Content production, and IP merchandising and commercialization. The Technology segment provides Internet-based ticketing services to consumers and offers Internet-based promotion and distribution services to cinemas. The integrated development unit develops, licenses, and merchandises intellectual property. The content production business engages in planning, developing, and producing films and TV drama series. The Content segment generates most of the company's revenue.
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