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.
Janus Henderson Group's Sloan Ratio for the quarter that ended in Mar. 2024 was 0.61%.
As of Mar. 2024, Janus Henderson Group has a Sloan Ratio of 0.61%, indicating the company is in the safe zone and there is no funny business with accruals.
Janus Henderson Group Sloan Ratio % Historical Data
The historical data trend for Janus Henderson Group'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 Janus Henderson Group's Sloan Ratio %
For the Asset Management subindustry, Janus Henderson 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 Henderson Group's Sloan Ratio % Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, Janus Henderson Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Janus Henderson Group's Sloan Ratio % falls into.
Janus Henderson 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 Henderson Group's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Janus Henderson Group's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 89.8 (Jun. 2023 ) + 93.5 (Sep. 2023 ) + 121.3 (Dec. 2023 ) + 130.1 (Mar. 2024 ) = $435 Mil.
Janus Henderson Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 171.4 (Jun. 2023 ) + 216.9 (Sep. 2023 ) + 161.5 (Dec. 2023 ) + -5 (Mar. 2024 ) = $545 Mil.
Janus Henderson Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -23 (Jun. 2023 ) + 16 (Sep. 2023 ) + -86.8 (Dec. 2023 ) + -54.3 (Mar. 2024 ) = $-148 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 Henderson Group (NYSE:JHG) 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 Henderson Group has a Sloan Ratio of 0.61%, indicating the company is in the safe zone and there is no funny business with accruals.
Janus Henderson Group Sloan Ratio % Related Terms
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Janus Henderson Group (Janus Henderson Group) Business Description
Janus Henderson Group provides investment management services to retail intermediary (54% of managed assets), self-directed (23%) and institutional (23%) clients. At the end of September, active equities (61%), fixed-income (21%), multi-asset (15%) and alternative (3%) investment platforms constituted the company's USD 308.3 billion in assets under management. Janus Henderson sources 59% of its managed assets from clients in North America, with customers from Europe, the Middle East, Africa, and Latin America (31%) and the Asia-Pacific region (10%) accounting for the remainder. Headquartered in London, JHG is dual-listed on the New York Stock Exchange and the Australian Securities Exchange.
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