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 Dec. 2023, Mapletree Industrial Trust has a Sloan Ratio of 2.80%, indicating the company is in the safe zone and there is no funny business with accruals.
Mapletree Industrial Trust 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 Mapletree Industrial Trust's Sloan Ratio %
For the REIT - Industrial subindustry, Mapletree Industrial Trust'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.
Mapletree Industrial Trust's Sloan Ratio % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Mapletree Industrial Trust's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Mapletree Industrial Trust's Sloan Ratio % falls into.
Mapletree Industrial Trust 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.
Mapletree Industrial Trust's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was -11.292 (Mar. 2023 ) + 91.685 (Jun. 2023 ) + 91.054 (Sep. 2023 ) + 95.312 (Dec. 2023 ) = S$266.8 Mil.
Mapletree Industrial Trust's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 134.736 (Mar. 2023 ) + 92.931 (Jun. 2023 ) + 77.754 (Sep. 2023 ) + 102.697 (Dec. 2023 ) = S$408.1 Mil.
Mapletree Industrial Trust's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -59.315 (Mar. 2023 ) + -44.057 (Jun. 2023 ) + -299.35 (Sep. 2023 ) + 7.87 (Dec. 2023 ) = S$-394.9 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.
Mapletree Industrial Trust (SGX:ME8U) 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, Mapletree Industrial Trust has a Sloan Ratio of 2.80%, indicating the company is in the safe zone and there is no funny business with accruals.
Mapletree Industrial Trust Sloan Ratio % Related Terms
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Mapletree Industrial Trust (SGX:ME8U) Business Description
Mapletree Industrial Trust is a real estate investment trust focusing on industrial properties and data centers. Its property portfolio consists of 85 properties in Singapore and 56 properties in North America (including 13 data centers held through a joint venture with its sponsor, Mapletree Investments Private Limited). Types of property owned includes data centers, high-tech buildings, business parks and general industrial. The trust is externally managed by Mapletree Industrial Trust Management Limited, a subsidiary of its sponsor, which owns around 31% stake in the trust.
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