Gritstone Bio (Gritstone Bio) Sloan Ratio % : -89.82% (As of Mar. 2024)

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What is Gritstone Bio Sloan Ratio %?

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.

Gritstone Bio's Sloan Ratio for the quarter that ended in Mar. 2024 was -89.82%.

Warning Sign:

When sloan ratio (-67.04)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.

As of Mar. 2024, Gritstone Bio has a Sloan Ratio of -89.82%, indicating earnings are more likely to be made up of accruals.

Gritstone Bio Sloan Ratio % Historical Data

The historical data trend for Gritstone Bio'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.

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Gritstone Bio Sloan Ratio % Chart

Gritstone Bio Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Sloan Ratio %

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-13.70

-37.08

33.85

3.83

-67.04

Gritstone Bio Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Sloan Ratio %	Get a 7-Day Free Trial															-1.31	-2.68	-13.00	-67.04	-89.82

Competitive Comparison of Gritstone Bio's Sloan Ratio %

For the Biotechnology subindustry, Gritstone Bio'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.

Gritstone Bio's Sloan Ratio % Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Gritstone Bio's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Gritstone Bio's Sloan Ratio % falls into.

Gritstone Bio 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.

Gritstone Bio's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: Dec. 2023 )	-	Cash Flow from Operations (A: Dec. 2023 )
	-	Cash Flow from Investing (A: Dec. 2023 ))	/	Total Assets (A: Dec. 2023 )
	=	(-138.49	-	-121.648
	-	102.341)	/	177.769
	=	-67.04%

Gritstone Bio's Sloan Ratio for the quarter that ended in Mar. 2024 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Mar. 2024 )
	=	(-144.893	-	-115.125
	-	93.471)	/	137.212
	=	-89.82%

Gritstone Bio's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was -35.256 (Jun. 2023 ) + -38.434 (Sep. 2023 ) + -30.818 (Dec. 2023 ) + -40.385 (Mar. 2024 ) = $-144.89 Mil.
Gritstone Bio's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was -30.963 (Jun. 2023 ) + -31.087 (Sep. 2023 ) + -19.508 (Dec. 2023 ) + -33.567 (Mar. 2024 ) = $-115.13 Mil.
Gritstone Bio's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 24.592 (Jun. 2023 ) + 18.281 (Sep. 2023 ) + 38.295 (Dec. 2023 ) + 12.303 (Mar. 2024 ) = $93.47 Mil.

Gritstone Bio (NAS:GRTS) 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.

According to How to Beat the Market with the Sloan Ratio:

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, Gritstone Bio has a Sloan Ratio of -89.82%, indicating earnings are more likely to be made up of accruals.

Gritstone Bio Sloan Ratio % Related Terms

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Gritstone Bio (Gritstone Bio) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Gritstone Bio Inc (NAS:GRTS) » Definitions » Sloan Ratio %

Comparable Companies

Traded in Other Exchanges

2JQ:Germany 2JQ:Germany

Address

5959 Horton Street, Suite 300, Emeryville, CA, USA, 94608

Website

https://gritstonebio.com

Gritstone Bio Inc is a biotechnology company. The company is engaged in developing personalized cancer immunotherapies to fight multiple cancer types and infectious diseases. It is building a pipeline of Immunotherapies product candidates for patients with solid tumors, which includes GRANITE, SLATE, BiSAb, among others.

Executives

Lawrence Corey	director	C/O GRITSTONE BIO, INC., 5959 HORTON STREET, SUITE 300, EMERYVILLE CA 94608
Naiyer Rizvi	director	C/O ARMO BIOSCIENCES, INC., 575 CHESAPEAKE DRIVE, REDWOOD CITY CA 94063
Elaine V Jones	director	C/O TARGACEPT, INC., 200 EAST FIRST STREET, SUITE 300, WINSTON-SALEM NC 27101
Clare Fisher	director	C/O GRITSTONE ONCOLOGY, INC., 5959 HORTON STREET, SUITE 300, EMERYVILLE CA 94608
Steve E. Krognes	director	863 MITTEN ROAD, SUITE 102, BURLINGAME CA 94010
Shefali Agarwal	director	C/O EPIZYME, INC., 400 TECHNOLOGY SQUARE, CAMBRIDGE MA 02139
Vassiliki Economides	officer: See Remarks	C/O KEZAR LIFE SCIENCES, INC., 4000 SHORELINE COURT, SUITE 300, SOUTH SAN FRANCISCO CA 94080
Erin Jones	officer: See Remarks	C/O GRITSTONE ONCOLOGY, INC., 5858 HORTON STREET, SUITE 210, EMERYVILLE CA 94608
James Cho	officer: Chief Accounting Officer	C/O GRITSTONE ONCOLOGY, INC., 5959 HORTON STREET, SUITE 300, EMERYVILLE CA 94608
Raphael Rousseau	officer: See Remarks	C/O GRITSTONE ONCOLOGY, INC., 5858 HORTON STREET, SUITE 210, EMERYVILLE CA 94608
Roman Yelensky	officer: See Remarks	C/O GRITSTONE ONCOLOGY, INC., 5858 HORTON STREET, SUITE 210, EMERYVILLE CA 94608
Thomas Woiwode	director	ONE SANSOME STREET, SUITE 1650, SAN FRANCISCO CA 94104
Rahsaan Thompson	officer: EVP and General Counsel	233 WILSHIRE BOULEVARD, SUITE 280, SANTA MONICA CA 90401
Vijay Yabannavar	officer: See Remarks	C/O GRITSTONE ONCOLOGY, INC., 5858 HORTON STREET, SUITE 210, EMERYVILLE CA 94608
Nicholas Simon	director	101 MAIN STREET SUITE 1210, CAMBRIDGE MA 02142