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, United Parks & Resorts has a Sloan Ratio of 1.33%, indicating the company is in the safe zone and there is no funny business with accruals.
United Parks & Resorts 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 United Parks & Resorts's Sloan Ratio %
For the Leisure subindustry, United Parks & Resorts'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.
United Parks & Resorts's Sloan Ratio % Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, United Parks & Resorts's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where United Parks & Resorts's Sloan Ratio % falls into.
United Parks & Resorts 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.
United Parks & Resorts's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
United Parks & Resorts's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was -16.467 (Mar. 2023 ) + 87.055 (Jun. 2023 ) + 123.555 (Sep. 2023 ) + 40.053 (Dec. 2023 ) = $234 Mil.
United Parks & Resorts's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 50.296 (Mar. 2023 ) + 184.605 (Jun. 2023 ) + 163.556 (Sep. 2023 ) + 106.459 (Dec. 2023 ) = $505 Mil.
United Parks & Resorts's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -69.758 (Mar. 2023 ) + -75.829 (Jun. 2023 ) + -88.631 (Sep. 2023 ) + -71.389 (Dec. 2023 ) = $-306 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.
United Parks & Resorts (NYSE:PRKS) 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, United Parks & Resorts has a Sloan Ratio of 1.33%, indicating the company is in the safe zone and there is no funny business with accruals.
United Parks & Resorts Sloan Ratio % Related Terms
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United Parks & Resorts (United Parks & Resorts) Business Description
SeaWorld Entertainment Inc operates in the United States leisure industry. Its core business is the operation of theme parks and such entertainment facilities involving sea animals across the country under prominent brands such as SeaWorld, Sea Rescue, and Busch Gardens. Seaworld also operates a reservations-only attraction offering interaction with marine animals known as Discovery Cove and a seasonal park under the name Sesame Place. The company generates most of its revenue from selling admission to the theme parks.
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