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, Xin Yuan Enterprises Group has a Sloan Ratio of -6.97%, indicating the company is in the safe zone and there is no funny business with accruals.
Xin Yuan Enterprises 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 Xin Yuan Enterprises Group's Sloan Ratio %
For the Marine Shipping subindustry, Xin Yuan Enterprises 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.
Xin Yuan Enterprises Group's Sloan Ratio % Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Xin Yuan Enterprises Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Xin Yuan Enterprises Group's Sloan Ratio % falls into.
Xin Yuan Enterprises 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.
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Xin Yuan Enterprises Group's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 43.348 (Jun. 2023 ) + 23.14 (Dec. 2023 ) = HK$66.5 Mil.
Xin Yuan Enterprises Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 72.275 (Jun. 2023 ) + 62.4 (Dec. 2023 ) = HK$134.7 Mil.
Xin Yuan Enterprises Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was 12.266 (Jun. 2023 ) + 21.735 (Dec. 2023 ) = HK$34.0 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.
Xin Yuan Enterprises Group (HKSE:01748) 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, Xin Yuan Enterprises Group has a Sloan Ratio of -6.97%, indicating the company is in the safe zone and there is no funny business with accruals.
Xin Yuan Enterprises Group Sloan Ratio % Related Terms
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Xin Yuan Enterprises Group (HKSE:01748) Business Description
Xin Yuan Enterprises Group Ltd is an investment holding company. The company along with its holdings is engaged in providing asphalt tanker chartering and bulk carrier chartering services, and trading of asphalt. It principally provides asphalt tanker chartering services under various types of charter agreements comprising through the agreement with time charters; voyage charters and contracts of affreightment. Its operating segments include Asphalt tanker chartering services, Bulk carrier chartering services, and Asphalt trading.
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