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.
Colruyt Group NV's Sloan Ratio for the quarter that ended in Sep. 2023 was -0.89%.
As of Sep. 2023, Colruyt Group NV has a Sloan Ratio of -0.89%, indicating the company is in the safe zone and there is no funny business with accruals.
Colruyt Group NV Sloan Ratio % Historical Data
The historical data trend for Colruyt Group NV'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 Colruyt Group NV's Sloan Ratio %
For the Grocery Stores subindustry, Colruyt Group NV'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.
Colruyt Group NV's Sloan Ratio % Distribution in the Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Colruyt Group NV's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Colruyt Group NV's Sloan Ratio % falls into.
Colruyt Group NV 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.
Colruyt Group NV's Sloan Ratio for the fiscal year that ended in Mar. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Colruyt Group NV's Net Income for the trailing twelve months (TTM) ended in Sep. 2023 was 119.593 (Mar. 2023 ) + 957.311 (Sep. 2023 ) = $1,077 Mil.
Colruyt Group NV's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2023 was 571.949 (Mar. 2023 ) + 1127.001 (Sep. 2023 ) = $1,699 Mil.
Colruyt Group NV's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2023 was -348.501 (Mar. 2023 ) + -210.352 (Sep. 2023 ) = $-559 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.
Colruyt Group NV (OTCPK:CUYTY) 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 Sep. 2023, Colruyt Group NV has a Sloan Ratio of -0.89%, indicating the company is in the safe zone and there is no funny business with accruals.
Colruyt Group NV Sloan Ratio % Related Terms
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Colruyt Group NV (Colruyt Group NV) Business Description
Colruyt NV Formerly Etablissementen Franz Colruyt NV is a Belgian-based family owned food retailer with nearly 30,000 employees and more than 530 stores (460 stores in Belgium and 76 in France) that traces its origins back to 1928. Aside from its flagship Colruyt supermarkets in Belgium and Luxembourg (60% of sales), it generates 16% of sales under separate banners from neighbourhood stores, biosupermarkets, covered markets, and family and seasonal stores. Its food service and wholesale businesses account for a further 18% of sales. Colruyt also owns DATS 24 filling stations, and a green energy business, generating electricity from wind turbines, solar panels, and biomass.
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