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 Mar. 2024, Janus International Group has a Sloan Ratio of -2.64%, indicating the company is in the safe zone and there is no funny business with accruals.
Janus International 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 Janus International Group's Sloan Ratio %
For the Building Products & Equipment subindustry, Janus International 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.
Janus International Group's Sloan Ratio % Distribution in the Construction Industry
For the Construction industry and Industrials sector, Janus International Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Janus International Group's Sloan Ratio % falls into.
Janus International 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.
Janus International Group's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Janus International Group's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 36.987 (Jun. 2023 ) + 37 (Sep. 2023 ) + 35.7 (Dec. 2023 ) + 30.7 (Mar. 2024 ) = $140 Mil.
Janus International Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 46.399 (Jun. 2023 ) + 49.901 (Sep. 2023 ) + 68.5 (Dec. 2023 ) + 28.6 (Mar. 2024 ) = $193 Mil.
Janus International Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -3.487 (Jun. 2023 ) + -3.813 (Sep. 2023 ) + -5.5 (Dec. 2023 ) + -4.6 (Mar. 2024 ) = $-17 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.
Janus International Group (NYSE:JBI) 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 Mar. 2024, Janus International Group has a Sloan Ratio of -2.64%, indicating the company is in the safe zone and there is no funny business with accruals.
Janus International Group Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Janus International Group's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Janus International Group (Janus International Group) Business Description
Janus International Group Inc is a manufacturer and supplier of turnkey solutions for self-storage, commercial, and industrial building Solutions. The company provides products that include roll-up and swing doors, hallway systems, relocatable storage MASS (Moveable Additional Storage Structures) units, and technologies for automating facility and door operation. The company focuses on two primary markets, providing building solutions to the self-storage industry and the broader commercial industrial market. It is operated through two geographic regions; Janus North America and Janus International.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
JBI has been successfully added to your 