What is Hong Kong Ferry (Holdings) Co 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.
As of Dec. 2023, Hong Kong Ferry (Holdings) Co has a Sloan Ratio of -2.84%, indicating the company is in the safe zone and there is no funny business with accruals.
Hong Kong Ferry (Holdings) Co 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 Hong Kong Ferry (Holdings) Co's Sloan Ratio %
For the Real Estate - Diversified subindustry, Hong Kong Ferry (Holdings) 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.
Hong Kong Ferry (Holdings) Co's Sloan Ratio % Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Hong Kong Ferry (Holdings) Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Hong Kong Ferry (Holdings) Co's Sloan Ratio % falls into.
Hong Kong Ferry (Holdings) 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.
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Hong Kong Ferry (Holdings) Co's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 90.027 (Jun. 2023 ) + 100.366 (Dec. 2023 ) = HK$190.4 Mil.
Hong Kong Ferry (Holdings) Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 73.775 (Jun. 2023 ) + -49.15 (Dec. 2023 ) = HK$24.6 Mil.
Hong Kong Ferry (Holdings) Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was 307.371 (Jun. 2023 ) + 65.701 (Dec. 2023 ) = HK$373.1 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.
Hong Kong Ferry (Holdings) Co (HKSE:00050) 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, Hong Kong Ferry (Holdings) Co has a Sloan Ratio of -2.84%, indicating the company is in the safe zone and there is no funny business with accruals.
Hong Kong Ferry (Holdings) Co Sloan Ratio % Related Terms
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Hong Kong Ferry (Holdings) Co (HKSE:00050) Business Description
Hong Kong Ferry (Holdings) Co Ltd is an investment holding company. It operates through four segments comprising Property development including the development and sale of properties; Property investment including rental income from the leasing of properties; Ferry, shipyard and related operations including income from the operation of dangerous goods vehicular ferry service and ship repairs and maintenance services and sales of goods on cruise vessels; and Securities investment segment which includes dividend, interest and other income from debt and equity securities investments. It derives a majority of the revenue from the Property investment segment. All of the group's revenue and profit from operations were derived from activities in Hong Kong.
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