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.
RusHydro PJSC's Sloan Ratio for the quarter that ended in Dec. 2023 was 10.24%.
As of Dec. 2023, RusHydro PJSC has a Sloan Ratio of 10.24%, indicating there is a warning stage of accrual build up.
RusHydro PJSC Sloan Ratio % Historical Data
The historical data trend for RusHydro PJSC'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 RusHydro PJSC's Sloan Ratio %
For the Utilities - Renewable subindustry, RusHydro PJSC'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.
RusHydro PJSC's Sloan Ratio % Distribution in the Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, RusHydro PJSC's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where RusHydro PJSC's Sloan Ratio % falls into.
RusHydro PJSC 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.
RusHydro PJSC's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
RusHydro PJSC's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 26981 (Mar. 2023 ) + 20242 (Jun. 2023 ) + 8548 (Sep. 2023 ) + -22166 (Dec. 2023 ) = ₽33,605 Mil.
RusHydro PJSC's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 35193 (Mar. 2023 ) + 26296 (Jun. 2023 ) + 1002 (Sep. 2023 ) + 40572 (Dec. 2023 ) = ₽103,063 Mil.
RusHydro PJSC's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -61706 (Mar. 2023 ) + -31517 (Jun. 2023 ) + -32846 (Sep. 2023 ) + -62568 (Dec. 2023 ) = ₽-188,637 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.
RusHydro PJSC (MIC:HYDR) 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, RusHydro PJSC has a Sloan Ratio of 10.24%, indicating there is a warning stage of accrual build up.
RusHydro PJSC Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of RusHydro PJSC's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
RusHydro PJSC is one of the largest Russian utility holding companies and produces a sizable amount of the country's electricity. The company constructs, repairs, owns and operates heat and electricity generating power plants. RusHydro's portfolio of facilities includes thermal, geothermal, hydroelectric, tidal, wind, and solar power plants located throughout all of Russia. Hydroelectric sites make up most of these. The company primarily generates revenue from the sale of electricity. Sales of thermal energy, hot water, and capacity also represent substantial revenue streams. RusHydro's largest shareholder is the government of the Russian Federation, which holds a controlling stake in the company.
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