What is Taiwan Surface Mounting Technology 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.
As of Mar. 2024, Taiwan Surface Mounting Technology has a Sloan Ratio of 2.51%, indicating the company is in the safe zone and there is no funny business with accruals.
Taiwan Surface Mounting Technology 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.
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Taiwan Surface Mounting Technology Sloan Ratio % Chart
Competitive Comparison of Taiwan Surface Mounting Technology's Sloan Ratio %
For the Semiconductors subindustry, Taiwan Surface Mounting Technology'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.
Taiwan Surface Mounting Technology's Sloan Ratio % Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Taiwan Surface Mounting Technology's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Taiwan Surface Mounting Technology's Sloan Ratio % falls into.
Taiwan Surface Mounting Technology 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.
Taiwan Surface Mounting Technology's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 631.94 (Jun. 2023 ) + 913.221 (Sep. 2023 ) + 677.161 (Dec. 2023 ) + 681.29 (Mar. 2024 ) = NT$2,904 Mil.
Taiwan Surface Mounting Technology's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 536.395 (Jun. 2023 ) + 2548.268 (Sep. 2023 ) + 2321.416 (Dec. 2023 ) + 592.339 (Mar. 2024 ) = NT$5,998 Mil.
Taiwan Surface Mounting Technology's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -2160.038 (Jun. 2023 ) + -825.754 (Sep. 2023 ) + -2404.202 (Dec. 2023 ) + 1041.795 (Mar. 2024 ) = NT$-4,348 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.
Taiwan Surface Mounting Technology (TPE:6278) 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 Mar. 2024, Taiwan Surface Mounting Technology has a Sloan Ratio of 2.51%, indicating the company is in the safe zone and there is no funny business with accruals.
Taiwan Surface Mounting Technology Sloan Ratio % Related Terms
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Taiwan Surface Mounting Technology (TPE:6278) Business Description
Taiwan Surface Mounting Technology Corp is mainly engaged in the design, processing, manufacturing, and trading of TFT-LCD panels, general electronic information products, and PCB surface mount packaging. Geographically company generates a majority of its revenue from Mainland China followed by Taiwan, Asia, the United States, Europe, and others. Applications for the company's surface-mount technology include mobile phones, laptops, notebooks, televisions, digital cameras, power supply control boards, and inverter control boards. It also produces touch-panel control boards and micro projector control boards, along with backlighting bars for use in computers, televisions, and portable electronics.
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