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.
Turk Hava Yollari AO's Sloan Ratio for the quarter that ended in Mar. 2024 was 7.47%.
As of Mar. 2024, Turk Hava Yollari AO has a Sloan Ratio of 7.47%, indicating the company is in the safe zone and there is no funny business with accruals.
Turk Hava Yollari AO Sloan Ratio % Historical Data
The historical data trend for Turk Hava Yollari AO'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 Turk Hava Yollari AO's Sloan Ratio %
For the Airlines subindustry, Turk Hava Yollari AO'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.
Turk Hava Yollari AO's Sloan Ratio % Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Turk Hava Yollari AO's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Turk Hava Yollari AO's Sloan Ratio % falls into.
Turk Hava Yollari AO 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.
Turk Hava Yollari AO's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Turk Hava Yollari AO's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 635 (Jun. 2023 ) + 1920 (Sep. 2023 ) + 2731.949 (Dec. 2023 ) + 226 (Mar. 2024 ) = $5,513 Mil.
Turk Hava Yollari AO's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 1323 (Jun. 2023 ) + 1576 (Sep. 2023 ) + 508.378 (Dec. 2023 ) + 1102 (Mar. 2024 ) = $4,509 Mil.
Turk Hava Yollari AO's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -543 (Jun. 2023 ) + -2509 (Sep. 2023 ) + 1184.562 (Dec. 2023 ) + 175 (Mar. 2024 ) = $-1,692 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.
Turk Hava Yollari AO (OTCPK:TKHVY) 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, Turk Hava Yollari AO has a Sloan Ratio of 7.47%, indicating the company is in the safe zone and there is no funny business with accruals.
Turk Hava Yollari AO Sloan Ratio % Related Terms
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Turk Hava Yollari AO (Turk Hava Yollari AO) Business Description
Turk Hava Yollari AO is a Turkish airline operator. It has one of the largest flight networks in the world, and transports passengers to many different regions. Additionally, it can provide long-haul direct cargo flights, and other logistics to serve a diverse range of customers. It has two operating segments: air transportation and aircraft technical maintenance operations. The majority of revenue is generated from transferring passengers and cargo (air transportation segment). The company owns several hangars to perform maintenance on different types of aircraft. Its geographical segments are Asia & Far East, Europe, Americas, Africa, and Middle East.
Turk Hava Yollari AO (Turk Hava Yollari AO) Headlines
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