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.
ASL Marine Holdings's Sloan Ratio for the quarter that ended in Mar. 2024 was -8.92%.
As of Mar. 2024, ASL Marine Holdings has a Sloan Ratio of -8.92%, indicating the company is in the safe zone and there is no funny business with accruals.
ASL Marine Holdings Sloan Ratio % Historical Data
The historical data trend for ASL Marine Holdings's Sloan Ratio % can be seen below:
* 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 ASL Marine Holdings's Sloan Ratio %
For the Aerospace & Defense subindustry, ASL Marine 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.
ASL Marine Holdings's Sloan Ratio % Distribution in the Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, ASL Marine Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where ASL Marine Holdings's Sloan Ratio % falls into.
ASL Marine 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.
ASL Marine Holdings's Sloan Ratio for the fiscal year that ended in Jun. 2023 is calculated as
ASL Marine Holdings's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 10.567 (Jun. 2023 ) + 3.245 (Sep. 2023 ) + -1.754 (Dec. 2023 ) + 3.998 (Mar. 2024 ) = S$16.1 Mil.
ASL Marine Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 13.138 (Jun. 2023 ) + 10.26 (Sep. 2023 ) + 19.5 (Dec. 2023 ) + 1.035 (Mar. 2024 ) = S$43.9 Mil.
ASL Marine Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 4.497 (Jun. 2023 ) + -5.135 (Sep. 2023 ) + 16.138 (Dec. 2023 ) + 5.208 (Mar. 2024 ) = S$20.7 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.
ASL Marine Holdings (SGX:A04) 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 Mar. 2024, ASL Marine Holdings has a Sloan Ratio of -8.92%, indicating the company is in the safe zone and there is no funny business with accruals.
ASL Marine Holdings Sloan Ratio % Related Terms
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ASL Marine Holdings (SGX:A04) Business Description
ASL Marine Holdings Ltd is an investment holding company. The company's operating segment includes Shipbuilding; Shiprepair, conversion and engineering; Shipchartering, and Investment holding. It generates maximum revenue from the Shiprepair, conversion and engineering services segment. The Shiprepair, conversion and engineering services segment includes the provision of shiprepair, dredging engineering products, and related services. Geographically, it derives a majority of revenue from Singapore and also has a presence in Indonesia; the Rest of Asia; Europe; Australia and the United States of America, and other countries.
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