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.
Ihlas Holding AS's Sloan Ratio for the quarter that ended in Sep. 2023 was 4.92%.
As of Sep. 2023, Ihlas Holding AS has a Sloan Ratio of 4.92%, indicating the company is in the safe zone and there is no funny business with accruals.
Ihlas Holding AS Sloan Ratio % Historical Data
The historical data trend for Ihlas Holding AS'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 Ihlas Holding AS's Sloan Ratio %
For the Conglomerates subindustry, Ihlas Holding AS'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.
Ihlas Holding AS's Sloan Ratio % Distribution in the Conglomerates Industry
For the Conglomerates industry and Industrials sector, Ihlas Holding AS's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Ihlas Holding AS's Sloan Ratio % falls into.
Ihlas Holding AS 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.
Ihlas Holding AS's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
Ihlas Holding AS's Net Income for the trailing twelve months (TTM) ended in Sep. 2023 was 525.357 (Dec. 2022 ) + 40.742 (Mar. 2023 ) + -35.132 (Jun. 2023 ) + -41.228 (Sep. 2023 ) = ₺490 Mil.
Ihlas Holding AS's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2023 was 47.533 (Dec. 2022 ) + -239.005 (Mar. 2023 ) + 75.983 (Jun. 2023 ) + 189.875 (Sep. 2023 ) = ₺74 Mil.
Ihlas Holding AS's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2023 was -38.401 (Dec. 2022 ) + -32.738 (Mar. 2023 ) + -36.408 (Jun. 2023 ) + -33.106 (Sep. 2023 ) = ₺-141 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.
Ihlas Holding AS (IST:IHLAS) 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, Ihlas Holding AS has a Sloan Ratio of 4.92%, indicating the company is in the safe zone and there is no funny business with accruals.
Ihlas Holding AS Sloan Ratio % Related Terms
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Ihlas Holding AS is a Turkey-based holding company. The company's operating segment includes Construction; Marketing; Media and Others. It generates maximum revenue from the Marketing segment. The construction segment includes real estate trading, construction projects, installation and contracting work, tourism and health investments, marketing, operating, and other construction operations. The Media Segment involves publishing, selling, distributing and marketing of newspapers, photography, TV and radio broadcasting abroad and all kinds of advertising in Turkey. The Marketing segment includes home appliances manufacturing, all kinds of motorized and non-motorized vehicles production, import, export, consumer durable trade, and its marketing. Geographically, it operates only in Turkey.
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