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 Jan. 2024, Casey's General Stores has a Sloan Ratio of 7.53%, indicating the company is in the safe zone and there is no funny business with accruals.
Casey's General Stores 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 Casey's General Stores's Sloan Ratio %
For the Specialty Retail subindustry, Casey's General Stores'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.
Casey's General Stores's Sloan Ratio % Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Casey's General Stores's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Casey's General Stores's Sloan Ratio % falls into.
Casey's General Stores 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.
Casey's General Stores's Sloan Ratio for the fiscal year that ended in Apr. 2023 is calculated as
Casey's General Stores's Net Income for the trailing twelve months (TTM) ended in Jan. 2024 was 56.092 (Apr. 2023 ) + 169.237 (Jul. 2023 ) + 158.782 (Oct. 2023 ) + 86.933 (Jan. 2024 ) = $471 Mil.
Casey's General Stores's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jan. 2024 was 245.358 (Apr. 2023 ) + 229.131 (Jul. 2023 ) + 252.649 (Oct. 2023 ) + 122.82 (Jan. 2024 ) = $850 Mil.
Casey's General Stores's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jan. 2024 was -244.085 (Apr. 2023 ) + -76.416 (Jul. 2023 ) + -230.607 (Oct. 2023 ) + -295.161 (Jan. 2024 ) = $-846 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.
Casey's General Stores (NAS:CASY) 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 Jan. 2024, Casey's General Stores has a Sloan Ratio of 7.53%, indicating the company is in the safe zone and there is no funny business with accruals.
Casey's General Stores Sloan Ratio % Related Terms
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Casey's General Stores (Casey's General Stores) Business Description
Casey's General Stores Inc owns and operates over 2,500 convenience stores in multiple Midwestern states of the U.S. The stores provide self-service gasoline, grocery items, and processed foods such as pizza, donuts, and sandwiches. Casey's operates its own distribution centres, delivering its in-store products and fuel supplies. The company owns of its real estate, including nearly all of the stores, distribution centres, and some of its subsidiaries' facilities. More than half of the company's stores are located in areas with populations of fewer than 5,000 people.
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