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.
* 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 International Genius Co's Sloan Ratio %
For the Asset Management subindustry, International Genius Co'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.
International Genius Co's Sloan Ratio % Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, International Genius Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where International Genius Co's Sloan Ratio % falls into.
International Genius Co 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.
International Genius Co's Sloan Ratio for the fiscal year that ended in Jun. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
International Genius Co's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was -24.389 (Jun. 2023 ) + -20.724 (Dec. 2023 ) = HK$-45.1 Mil.
International Genius Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 18.717 (Jun. 2023 ) + -26.812 (Dec. 2023 ) = HK$-8.1 Mil.
International Genius Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -0.417 (Jun. 2023 ) + -0.027 (Dec. 2023 ) = HK$-0.4 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.
International Genius Co (HKSE:00033) 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, International Genius Co has a Sloan Ratio of -15.93%, indicating there is a warning stage of accrual build up.
International Genius Co Sloan Ratio % Related Terms
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International Genius Co (HKSE:00033) Business Description
International Genius Co, is an investment holding company mainly engaged in the trading of party products. The Company operates its business through six segments. The Party Products Trading segment is mainly engaged in the trading of party products. The Securities Brokerage and Asset Management segment is mainly engaged in the provision of securities brokerage and asset management services. The Lending Business segment is mainly engaged in the Provision of lending services. The Metals and Minerals Trading segment is engaged in metals and minerals trading. The Credit Guarantee Service and Investment Business segment are engaged in the credit guarantee service and investment business. The majority of revenue is generated from Securities brokerage and assets management.
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