Topsports International Holdings (Topsports International Holdings) Sloan Ratio % : -18.74% (As of Aug. 2023)

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What is Topsports International 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.

Topsports International Holdings's Sloan Ratio for the quarter that ended in Aug. 2023 was -18.74%.

As of Aug. 2023, Topsports International Holdings has a Sloan Ratio of -18.74%, indicating there is a warning stage of accrual build up.

Topsports International Holdings Sloan Ratio % Historical Data

The historical data trend for Topsports International 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.

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Topsports International Holdings Sloan Ratio % Chart

Topsports International Holdings Annual Data

Trend

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Sloan Ratio %

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0.22

0.69

-22.78

-14.45

-13.13

Topsports International Holdings Semi-Annual Data
	Feb17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23
Sloan Ratio %	Get a 7-Day Free Trial								-21.42	-14.35	-12.39	-13.14	-18.74

Competitive Comparison of Topsports International Holdings's Sloan Ratio %

For the Apparel Retail subindustry, Topsports International 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.

Topsports International Holdings's Sloan Ratio % Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Topsports International Holdings's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Topsports International Holdings's Sloan Ratio % falls into.

Topsports International 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.

Topsports International Holdings's Sloan Ratio for the fiscal year that ended in Feb. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: Feb. 2023 )	-	Cash Flow from Operations (A: Feb. 2023 )
	-	Cash Flow from Investing (A: Feb. 2023 ))	/	Total Assets (A: Feb. 2023 )
	=	(268.587	-	636.253
	-	-44.691)	/	2459.886
	=	-13.13%

Topsports International Holdings's Sloan Ratio for the quarter that ended in Aug. 2023 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Aug. 2023 )
	=	(285.559	-	751.697
	-	-31.271)	/	2320.545
	=	-18.74%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. Topsports International Holdings's Net Income for the trailing twelve months (TTM) ended in Aug. 2023 was 101.082 (Feb. 2023 ) + 184.477 (Aug. 2023 ) = $286 Mil.
Topsports International Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Aug. 2023 was 399.795 (Feb. 2023 ) + 351.902 (Aug. 2023 ) = $752 Mil.
Topsports International Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Aug. 2023 was -25.256 (Feb. 2023 ) + -6.015 (Aug. 2023 ) = $-31 Mil.

Topsports International Holdings (OTCPK:TPSRF) 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.

According to How to Beat the Market with the Sloan Ratio:

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 Aug. 2023, Topsports International Holdings has a Sloan Ratio of -18.74%, indicating there is a warning stage of accrual build up.

Topsports International Holdings Sloan Ratio % Related Terms

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Topsports International Holdings (Topsports International Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Topsports International Holdings Ltd (OTCPK:TPSRF) » Definitions » Sloan Ratio %

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Traded in Other Exchanges

6110:Mexico 06110:Hong Kong

Address

No. 928 Liuzhou Road, 22nd Floor, Belle International Building, Xuhui District, Shanghai, CHN

Website

https://www.topsports.com.cn

Topsports is the largest sportswear retailer in China, generating the majority of its revenue from selling products of international sportswear brands. The business operates as an intermediary between brand owners and consumers seeking to buy sportswear. The firm operates more than 6,500 stores directly as of the end of fiscal 2023, and most of these "single-brand" stores have been opened under the names of sportswear brands that it partners with, such as Nike and Adidas. In addition to these two sportswear giants, Topsports also has partnerships with sportswear brands such as Puma, Li Ning, Asics, and The North Face. While most of Topsports' sales take place in stores, the firm also operates online shops under the Topsports brand on major e-commerce platforms such as Alibaba and JD.com.