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Tongling Nonferrous Metals Group Co (SZSE:000630) Sloan Ratio % : -2.96% (As of Mar. 2024)


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What is Tongling Nonferrous Metals Group Co Sloan Ratio %?

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.

Tongling Nonferrous Metals Group Co's Sloan Ratio for the quarter that ended in Mar. 2024 was -2.96%.

As of Mar. 2024, Tongling Nonferrous Metals Group Co has a Sloan Ratio of -2.96%, indicating the company is in the safe zone and there is no funny business with accruals.


Tongling Nonferrous Metals Group Co Sloan Ratio % Historical Data

The historical data trend for Tongling Nonferrous Metals Group Co'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.

* Premium members only.

Tongling Nonferrous Metals Group Co Sloan Ratio % Chart

Tongling Nonferrous Metals Group Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Sloan Ratio %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.02 0.21 3.24 -3.03 -2.27

Tongling Nonferrous Metals Group Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Sloan Ratio % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.68 0.34 3.80 -2.27 -2.96

Competitive Comparison of Tongling Nonferrous Metals Group Co's Sloan Ratio %

For the Copper subindustry, Tongling Nonferrous Metals Group Co'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.


Tongling Nonferrous Metals Group Co's Sloan Ratio % Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Tongling Nonferrous Metals Group Co's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Tongling Nonferrous Metals Group Co's Sloan Ratio % falls into.



Tongling Nonferrous Metals Group Co 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.

Tongling Nonferrous Metals Group Co's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Sloan Ratio=(Net Income (A: Dec. 2023 )-Cash Flow from Operations (A: Dec. 2023 )
-Cash Flow from Investing (A: Dec. 2023 ))/Total Assets (A: Dec. 2023 )
=(2699.176-5924.658
--1448.379)/78245.125
=-2.27%

Tongling Nonferrous Metals Group Co's Sloan Ratio for the quarter that ended in Mar. 2024 is calculated as

Sloan Ratio=(Net Income (TTM)-Cash Flow from Operations (TTM))
-Cash Flow from Investing (TTM))/Total Assets (Q: Mar. 2024 )
=(2774.601-7916.322
--2697.002)/82658.826
=-2.96%

Tongling Nonferrous Metals Group Co's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 407.459 (Jun. 2023 ) + 1147.3 (Sep. 2023 ) + 123.151 (Dec. 2023 ) + 1096.691 (Mar. 2024 ) = ¥2,775 Mil.
Tongling Nonferrous Metals Group Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 1753.571 (Jun. 2023 ) + 4459.262 (Sep. 2023 ) + 474.48 (Dec. 2023 ) + 1229.009 (Mar. 2024 ) = ¥7,916 Mil.
Tongling Nonferrous Metals Group Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -1286.438 (Jun. 2023 ) + -1065.163 (Sep. 2023 ) + 536.537 (Dec. 2023 ) + -881.938 (Mar. 2024 ) = ¥-2,697 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.


Tongling Nonferrous Metals Group Co  (SZSE:000630) 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.

According to How to Beat the Market with the Sloan Ratio:

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, Tongling Nonferrous Metals Group Co has a Sloan Ratio of -2.96%, indicating the company is in the safe zone and there is no funny business with accruals.


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Tongling Nonferrous Metals Group Co (SZSE:000630) Business Description

Traded in Other Exchanges
N/A
Address
Changjiang West Road, West Building, Nonferrous Courtyard, Anhui Province, Tongling, CHN, 244000
Tongling Nonferrous Metals Group Co Ltd is engaged in the business of copper exploration, mining, smelting and deep processing. Its product include cathode copper, gold, silver, and copper, Wire, copper strip and copper foil. The company operates in more than 30 countries. Its products are used in electric power, construction, automotive, home appliances, electronics, and defense.
Executives
Jiang Pei Jin Directors, executives
Wu He Ping Secretary, Director
Liu Dao Kun Executives
Zhou Jun Director
Zou Xian Ji Supervisors
Xu Wu Qi Director
Yang Li Sheng Executives
Fang Wen Sheng Executives
Dai Sheng Hong Supervisors
Liu Jian She Executives
Song Xiu Ming Executives
Wei Jiang Hong Director
Yang Jun Directors, executives
Zhan De Guang Executives
Wu Guo Zhong Director

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