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.
Oil & Natural Gas's Sloan Ratio for the quarter that ended in Dec. 2023 was 0.00%.
As of Dec. 2023, Oil & Natural Gas has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Oil & Natural Gas Sloan Ratio % Historical Data
The historical data trend for Oil & Natural Gas'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 Oil & Natural Gas's Sloan Ratio %
For the Oil & Gas Integrated subindustry, Oil & Natural Gas'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.
Oil & Natural Gas's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Oil & Natural Gas's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Oil & Natural Gas's Sloan Ratio % falls into.
Oil & Natural Gas 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.
Oil & Natural Gas's Sloan Ratio for the fiscal year that ended in Mar. 2023 is calculated as
Oil & Natural Gas's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 37154.8 (Mar. 2023 ) + 141339.1 (Jun. 2023 ) + 137341.1 (Sep. 2023 ) + 103564.4 (Dec. 2023 ) = ₹419,399 Mil.
Oil & Natural Gas's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 0 (Mar. 2023 ) + 0 (Jun. 2023 ) + 0 (Sep. 2023 ) + 0 (Dec. 2023 ) = ₹0 Mil.
Oil & Natural Gas's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was 0 (Mar. 2023 ) + 0 (Jun. 2023 ) + 0 (Sep. 2023 ) + 0 (Dec. 2023 ) = ₹0 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.
Oil & Natural Gas (BOM:500312) 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 Dec. 2023, Oil & Natural Gas has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Oil & Natural Gas Sloan Ratio % Related Terms
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Oil & Natural Gas (BOM:500312) Business Description
Oil & Natural Gas Corp Ltd is an Indian-based company. It engages in the exploration, development, and production of oil and natural gas. The company operates onshore and offshore fields globally through joint ventures and partnerships. Crude oil production has been the lead revenue generator, with Russian assets providing the most production. Apart from the exploration and production operations, it engages in the transportation and refining of hydrocarbon products. Oil and Natural Gas Corp carries out its business as a public sector undertaking for the Government of India.
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