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.
Bristow Group's Sloan Ratio for the quarter that ended in Mar. 2024 was 2.77%.
As of Mar. 2024, Bristow Group has a Sloan Ratio of 2.77%, indicating the company is in the safe zone and there is no funny business with accruals.
Bristow Group Sloan Ratio % Historical Data
The historical data trend for Bristow Group'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 Bristow Group's Sloan Ratio %
For the Oil & Gas Equipment & Services subindustry, Bristow Group'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.
Bristow Group's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Bristow Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Bristow Group's Sloan Ratio % falls into.
Bristow Group 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.
Bristow Group's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Bristow Group's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was -1.637 (Jun. 2023 ) + 4.317 (Sep. 2023 ) + -7.938 (Dec. 2023 ) + 6.605 (Mar. 2024 ) = $1 Mil.
Bristow Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 18.21 (Jun. 2023 ) + 16.711 (Sep. 2023 ) + -9.499 (Dec. 2023 ) + 26.679 (Mar. 2024 ) = $52 Mil.
Bristow Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -8.888 (Jun. 2023 ) + -11.051 (Sep. 2023 ) + -19.276 (Dec. 2023 ) + -64.557 (Mar. 2024 ) = $-104 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.
Bristow Group (NYSE:VTOL) 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, Bristow Group has a Sloan Ratio of 2.77%, indicating the company is in the safe zone and there is no funny business with accruals.
Bristow Group Sloan Ratio % Related Terms
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Bristow Group (Bristow Group) Business Description
Bristow Group Inc is the provider of vertical flight solutions. It provides aviation services to a broad base of major integrated, national and independent energy companies. The company provides commercial search and rescue (SAR) services in multiple countries and public sector SAR services in the United Kingdom on behalf of the Maritime & Coastguard Agency (MCA). Additionally, it offers fixed wing transportation and other aviation related solutions. Its oil and gas customers charter its helicopters to transport personnel to, from and between onshore bases and offshore production platforms, drilling rigs and other installations. It has customers in Australia, Brazil, Canada, Chile, Colombia, Guyana, India, Mexico, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K and the United States.
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