What is Highest Performances Holdings 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.
When sloan ratio (35.84)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
As of Dec. 2023, Highest Performances Holdings has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Highest Performances Holdings 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 Highest Performances Holdings's Sloan Ratio %
For the Asset Management subindustry, Highest Performances Holdings'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.
Highest Performances Holdings's Sloan Ratio % Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, Highest Performances Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Highest Performances Holdings's Sloan Ratio % falls into.
Highest Performances Holdings 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.
Highest Performances Holdings's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was -1.693 (Jun. 2023 ) + -4.657 (Dec. 2023 ) = $-6.35 Mil.
Highest Performances Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was -1.455 (Jun. 2023 ) + 0 (Dec. 2023 ) = $-1.46 Mil.
Highest Performances Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was 12.745 (Jun. 2023 ) + 0 (Dec. 2023 ) = $12.75 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.
Highest Performances Holdings (NAS:HPH) 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, Highest Performances Holdings has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Highest Performances Holdings Sloan Ratio % Related Terms
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Highest Performances Holdings (Highest Performances Holdings) Business Description
Puyi Inc is the third-party wealth management services provider in China. The company provides wealth management services, corporate finance services and asset management services. It generates a majority of the revenue from wealth management services under which it distributes wealth management products both online and offline through its branch network. Products distributed online include publicly raised fund products, exchange administered products and asset management plans. Products distributed offline include privately raised fund products. In addition, the company also has a corporate finance services business, under which it provides corporate borrowers with financing solutions, including product design, identification of sources of funding, compliance and risk management.
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