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.
Kingboard Holdings's Sloan Ratio for the quarter that ended in Dec. 2023 was 5.03%.
As of Dec. 2023, Kingboard Holdings has a Sloan Ratio of 5.03%, indicating the company is in the safe zone and there is no funny business with accruals.
Kingboard Holdings Sloan Ratio % Historical Data
The historical data trend for Kingboard Holdings'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 Kingboard Holdings's Sloan Ratio %
For the Conglomerates subindustry, Kingboard Holdings'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.
Kingboard Holdings's Sloan Ratio % Distribution in the Conglomerates Industry
For the Conglomerates industry and Industrials sector, Kingboard Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Kingboard Holdings's Sloan Ratio % falls into.
Kingboard Holdings 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.
Kingboard Holdings'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.
Kingboard Holdings's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 177.404 (Jun. 2023 ) + 86.22 (Dec. 2023 ) = $264 Mil.
Kingboard Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 138.303 (Jun. 2023 ) + 541.307 (Dec. 2023 ) = $680 Mil.
Kingboard Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -664.297 (Jun. 2023 ) + -388.994 (Dec. 2023 ) = $-1,053 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.
Kingboard Holdings (OTCPK:KBDCF) 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, Kingboard Holdings has a Sloan Ratio of 5.03%, indicating the company is in the safe zone and there is no funny business with accruals.
Kingboard Holdings Sloan Ratio % Related Terms
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Kingboard Holdings (Kingboard Holdings) Business Description
Kingboard Holdings Ltd is an investment holding company in China. It operates in six segments: manufacture and sale of laminates; manufacture and sale of printed circuit boards; manufacture and sale of chemicals; sales and rental of properties; investments; and others including service income, manufacture, and sale of magnetic products and hotel business. The company's products include Tar, coke, methanol, benzene, acetic acid, glass epoxy laminate, paper laminate, single and double-sided printed circuit boards and others. Geographically, it has operations in China, Thailand, Japan, Korea, Singapore, Europe, and America, out of which China accounts for the majority of the revenue.
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