Sichuan Joyou Digital Technologies Co (SZSE:301172) Sloan Ratio % : 37.82% (As of Mar. 2024)

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What is Sichuan Joyou Digital Technologies 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.

Sichuan Joyou Digital Technologies Co's Sloan Ratio for the quarter that ended in Mar. 2024 was 37.82%.

Warning Sign:

When sloan ratio (41)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.

As of Mar. 2024, Sichuan Joyou Digital Technologies Co has a Sloan Ratio of 37.82%, indicating earnings are more likely to be made up of accruals.

Sichuan Joyou Digital Technologies Co Sloan Ratio % Historical Data

The historical data trend for Sichuan Joyou Digital Technologies 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.

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Sichuan Joyou Digital Technologies Co Sloan Ratio % Chart

Sichuan Joyou Digital Technologies Co Annual Data

Trend

Dec13

Dec14

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Sloan Ratio %

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6.88

-1.04

4.66

8.08

41.00

Sichuan Joyou Digital Technologies Co Quarterly Data
	Dec14	Dec16	Dec17	Dec18	Dec19	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Sloan Ratio %	Get a 7-Day Free Trial															4.88	12.77	28.14	41.00	37.82

Competitive Comparison of Sichuan Joyou Digital Technologies Co's Sloan Ratio %

For the Information Technology Services subindustry, Sichuan Joyou Digital Technologies 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.

Sichuan Joyou Digital Technologies Co's Sloan Ratio % Distribution in the Software Industry

For the Software industry and Technology sector, Sichuan Joyou Digital Technologies Co's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Sichuan Joyou Digital Technologies Co's Sloan Ratio % falls into.

Sichuan Joyou Digital Technologies 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.

Sichuan Joyou Digital Technologies 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 )
	=	(63.402	-	-14.383
	-	-654.587)	/	1786.084
	=	41.00%

Sichuan Joyou Digital Technologies 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 )
	=	(76.851	-	47.047
	-	-636.725)	/	1762.215
	=	37.82%

Sichuan Joyou Digital Technologies Co's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 34.736 (Jun. 2023 ) + 13.105 (Sep. 2023 ) + 19.86 (Dec. 2023 ) + 9.15 (Mar. 2024 ) = ¥76.9 Mil.
Sichuan Joyou Digital Technologies Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 23.711 (Jun. 2023 ) + 26.78 (Sep. 2023 ) + 17.643 (Dec. 2023 ) + -21.087 (Mar. 2024 ) = ¥47.0 Mil.
Sichuan Joyou Digital Technologies Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 19.898 (Jun. 2023 ) + -565.418 (Sep. 2023 ) + -89.068 (Dec. 2023 ) + -2.137 (Mar. 2024 ) = ¥-636.7 Mil.

Sichuan Joyou Digital Technologies Co (SZSE:301172) 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, Sichuan Joyou Digital Technologies Co has a Sloan Ratio of 37.82%, indicating earnings are more likely to be made up of accruals.

Sichuan Joyou Digital Technologies Co Sloan Ratio % Related Terms

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Sichuan Joyou Digital Technologies Co (SZSE:301172) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Software » Sichuan Joyou Digital Technologies Co Ltd (SZSE:301172) » Definitions » Sloan Ratio %

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Address

No. 288, Tianfu 3rd Street, Chengdu High-tech Zone, No. 2-7, 12th Floor, 13th Floor, Building 1, China (Sichuan) Pilot Free Trade Zone, Chengdu, CHN, 610094

Website

http://www.joyoudigital.com

Sichuan Joyou Digital Technologies Co Ltd is a professional smart city comprehensive solution provider. Its main business is to provide products and services such as system integration services, operation and maintenance services, and self-developed product sales for customers in the smart city field. The company mainly adopts new-generation information application technologies such as the Internet of Things, cloud computing, big data, artificial intelligence, and BIM to provide customers with a smart city industry that integrates application software customization development and intelligent and information system integration services Comprehensive solutions.

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