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.
As of Dec. 2023, Huili Resources (Group) has a Sloan Ratio of 3.68%, indicating the company is in the safe zone and there is no funny business with accruals.
Huili Resources (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 Huili Resources (Group)'s Sloan Ratio %
For the Thermal Coal subindustry, Huili Resources (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.
Huili Resources (Group)'s Sloan Ratio % Distribution in the Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Huili Resources (Group)'s Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Huili Resources (Group)'s Sloan Ratio % falls into.
Huili Resources (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.
Huili Resources (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.
Huili Resources (Group)'s Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 90.075 (Jun. 2023 ) + 93.252 (Dec. 2023 ) = HK$183 Mil.
Huili Resources (Group)'s Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 76.013 (Jun. 2023 ) + 34.999 (Dec. 2023 ) = HK$111 Mil.
Huili Resources (Group)'s Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -1.123 (Jun. 2023 ) + 9.86 (Dec. 2023 ) = HK$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.
Huili Resources (Group) (HKSE:01303) 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, Huili Resources (Group) has a Sloan Ratio of 3.68%, indicating the company is in the safe zone and there is no funny business with accruals.
Huili Resources (Group) Sloan Ratio % Related Terms
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Huili Resources (Group) (HKSE:01303) Business Description
Huili Resources (Group) Ltd is an investment holding company, engaged in the mining, ore processing and sales of gold, nickel, copper, lead and zinc products, trading of materials for oil and gas exploration and coals, and financial services in the People's Republic of China. It operates through three business segments namely Mining, Financial service, and Coal business. The company derives the majority of its revenue from the Coal business segment which involve trading in coal.
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