What is San Miguel Brewery Hong Kong 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, San Miguel Brewery Hong Kong has a Sloan Ratio of 1.83%, indicating the company is in the safe zone and there is no funny business with accruals.
San Miguel Brewery Hong Kong 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 San Miguel Brewery Hong Kong's Sloan Ratio %
For the Beverages - Brewers subindustry, San Miguel Brewery Hong Kong'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.
San Miguel Brewery Hong Kong's Sloan Ratio % Distribution in the Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, San Miguel Brewery Hong Kong's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where San Miguel Brewery Hong Kong's Sloan Ratio % falls into.
San Miguel Brewery Hong Kong 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.
San Miguel Brewery Hong Kong's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 48.518 (Jun. 2023 ) + 37.38 (Dec. 2023 ) = HK$85.9 Mil.
San Miguel Brewery Hong Kong's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 60.078 (Jun. 2023 ) + 28.629 (Dec. 2023 ) = HK$88.7 Mil.
San Miguel Brewery Hong Kong's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -6.625 (Jun. 2023 ) + -10.936 (Dec. 2023 ) = HK$-17.6 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.
San Miguel Brewery Hong Kong (HKSE:00236) 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, San Miguel Brewery Hong Kong has a Sloan Ratio of 1.83%, indicating the company is in the safe zone and there is no funny business with accruals.
San Miguel Brewery Hong Kong Sloan Ratio % Related Terms
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San Miguel Brewery Hong Kong (HKSE:00236) Business Description
San Miguel Brewery Hong Kong Ltd is engaged in the manufacturing and distribution of bottled, canned and draught beers. Its two reportable segments are 1) The Hong Kong operations comprise of the manufacture and distribution of own brewed beer products and the distribution of imported beer products in Hong Kong and overseas. 2) The Mainland China operations comprise of the manufacture and distribution of own-brewed beer products in the southern part of the People's Republic of China and overseas. It derives the majority of its revenue from Hong Kong.
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