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.
As of Mar. 2024, CrossAmerica Partners LP has a Sloan Ratio of -3.37%, indicating the company is in the safe zone and there is no funny business with accruals.
CrossAmerica Partners LP Sloan Ratio % Historical Data
* 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 CrossAmerica Partners LP's Sloan Ratio %
For the Oil & Gas Refining & Marketing subindustry, CrossAmerica Partners LP'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.
CrossAmerica Partners LP's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, CrossAmerica Partners LP's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where CrossAmerica Partners LP's Sloan Ratio % falls into.
CrossAmerica Partners LP 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.
CrossAmerica Partners LP's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
CrossAmerica Partners LP's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 14.536 (Jun. 2023 ) + 12.292 (Sep. 2023 ) + 14.255 (Dec. 2023 ) + -18.197 (Mar. 2024 ) = $23 Mil.
CrossAmerica Partners LP's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 35.725 (Jun. 2023 ) + 31.726 (Sep. 2023 ) + 38.094 (Dec. 2023 ) + 5.816 (Mar. 2024 ) = $111 Mil.
CrossAmerica Partners LP's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -1.308 (Jun. 2023 ) + -9.847 (Sep. 2023 ) + -11.646 (Dec. 2023 ) + -25.964 (Mar. 2024 ) = $-49 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.
CrossAmerica Partners LP (NYSE:CAPL) 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, CrossAmerica Partners LP has a Sloan Ratio of -3.37%, indicating the company is in the safe zone and there is no funny business with accruals.
CrossAmerica Partners LP Sloan Ratio % Related Terms
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CrossAmerica Partners LP (CrossAmerica Partners LP) Business Description
CrossAmerica Partners LP is a US-based limited partnership which is engaged in the wholesale distribution of motor fuel and the ownership and leasing of real estate used in the retail distribution of motor fuel. The company operates through two business segments namely Wholesale and Retail. The Wholesale segment is a key revenue driver, includes the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, DMS, Circle K and through company operated retail sites. The Retail segment includes the sale of convenience merchandise items, the retail sale of motor fuel at company-operated retail sites and the retail sale of motor fuel at retail sites operated by commission agents.
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