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.
Sysmex's Sloan Ratio for the quarter that ended in Mar. 2024 was 6.58%.
As of Mar. 2024, Sysmex has a Sloan Ratio of 6.58%, indicating the company is in the safe zone and there is no funny business with accruals.
Sysmex Sloan Ratio % Historical Data
The historical data trend for Sysmex'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.
For the Medical Instruments & Supplies subindustry, Sysmex'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.
Sysmex's Sloan Ratio % Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Sysmex's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Sysmex's Sloan Ratio % falls into.
Sysmex 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.
Sysmex's Sloan Ratio for the fiscal year that ended in Mar. 2024 is calculated as
Sysmex's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 8620 (Jun. 2023 ) + 13565 (Sep. 2023 ) + 12277 (Dec. 2023 ) + 15175 (Mar. 2024 ) = 円49,637 Mil.
Sysmex's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 11343 (Jun. 2023 ) + 19328 (Sep. 2023 ) + 8197 (Dec. 2023 ) + 25037 (Mar. 2024 ) = 円63,905 Mil.
Sysmex's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -10293 (Jun. 2023 ) + -13209 (Sep. 2023 ) + -18359 (Dec. 2023 ) + -13109 (Mar. 2024 ) = 円-54,970 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.
Sysmex (TSE:6869) 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, Sysmex has a Sloan Ratio of 6.58%, indicating the company is in the safe zone and there is no funny business with accruals.
Sysmex Sloan Ratio % Related Terms
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Sysmex Corp manufactures and distributes in vitro diagnostic instruments, reagents, and software. The vast majority of the firm's revenue comes from selling tests for human bodily fluids to hospitals and commercial laboratories. Within this industry, the firm specializes in hematology reagents and instruments. Sysmex also sells in vitro diagnostics for applications like urinalysis and hemostasis and provides support and maintenance services for its systems. Over half of the firm's revenue is generated by sales of reagents and services, which are recurring sources of income. Sysmex primarily sells its products to customers in Japan, Europe, the Middle East, and Africa, and the Americas.
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