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.
PT Steadyfe Tbk's Sloan Ratio for the quarter that ended in Mar. 2024 was -19.65%.
As of Mar. 2024, PT Steadyfe Tbk has a Sloan Ratio of -19.65%, indicating there is a warning stage of accrual build up.
PT Steadyfe Tbk Sloan Ratio % Historical Data
The historical data trend for PT Steadyfe Tbk'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 PT Steadyfe Tbk's Sloan Ratio %
For the Railroads subindustry, PT Steadyfe Tbk'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.
PT Steadyfe Tbk's Sloan Ratio % Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, PT Steadyfe Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Steadyfe Tbk's Sloan Ratio % falls into.
PT Steadyfe Tbk 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.
PT Steadyfe Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
PT Steadyfe Tbk's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 3110.71 (Jun. 2023 ) + 3405.593 (Sep. 2023 ) + 6510.087 (Dec. 2023 ) + 9919.151 (Mar. 2024 ) = Rp22,946 Mil.
PT Steadyfe Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 10837.118 (Jun. 2023 ) + 16636.959 (Sep. 2023 ) + 15139.871 (Dec. 2023 ) + 16115.568 (Mar. 2024 ) = Rp58,730 Mil.
PT Steadyfe Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 3343.939 (Jun. 2023 ) + -137.952 (Sep. 2023 ) + 3006.231 (Dec. 2023 ) + 3618.164 (Mar. 2024 ) = Rp9,830 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.
PT Steadyfe Tbk (ISX:SAFE) 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, PT Steadyfe Tbk has a Sloan Ratio of -19.65%, indicating there is a warning stage of accrual build up.
PT Steadyfe Tbk Sloan Ratio % Related Terms
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Jalan Prof. DR. Satrio No.7, 15th Floor Satrio Tower RT.7/RW.2, Kuningan, Kecamatan Setiabudi Kota Jakarta Selatan, Daerah Khusus Ibukota, Jakarta, IDN, 12950
PT Steady Safe Tbk is a public transportation company. Its business activities are in the field of transportation services, especially to be busway operator in Jakarta. The company and subsidiaries classify their business activities in two main business segments namely Land Transportation and Financial Services segment. The firm's revenue is dominated by the Land Transportation segment.
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