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.
Tokyo Ohka Kogyo Co's Sloan Ratio for the quarter that ended in Mar. 2024 was 0.00%.
As of Mar. 2024, Tokyo Ohka Kogyo Co has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Tokyo Ohka Kogyo Co Sloan Ratio % Historical Data
The historical data trend for Tokyo Ohka Kogyo Co'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 Tokyo Ohka Kogyo Co's Sloan Ratio %
For the Electronic Components subindustry, Tokyo Ohka Kogyo Co'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.
Tokyo Ohka Kogyo Co's Sloan Ratio % Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Tokyo Ohka Kogyo Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Tokyo Ohka Kogyo Co's Sloan Ratio % falls into.
Tokyo Ohka Kogyo Co 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.
Tokyo Ohka Kogyo Co's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Tokyo Ohka Kogyo Co's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 3198 (Jun. 2023 ) + 2165 (Sep. 2023 ) + 5192 (Dec. 2023 ) + 3599 (Mar. 2024 ) = 円14,154 Mil.
Tokyo Ohka Kogyo Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 0 (Jun. 2023 ) + 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + 0 (Mar. 2024 ) = 円0 Mil.
Tokyo Ohka Kogyo Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 0 (Jun. 2023 ) + 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + 0 (Mar. 2024 ) = 円0 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.
Tokyo Ohka Kogyo Co (TSE:4186) 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, Tokyo Ohka Kogyo Co has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Tokyo Ohka Kogyo Co Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Tokyo Ohka Kogyo Co's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Tokyo Ohka Kogyo Co (TSE:4186) Business Description
Tokyo Ohka Kogyo Co Ltd is a Japan-based company that manufactures functional materials and processing equipment. The processing equipment sold by the firm are primarily used in the manufacturing of semiconductors and liquid crystal display products. The materials used in the manufacturing of these products are also sold by the company, particularly for the photolithography process. The firm also sells inorganic and organic chemicals. Tokyo Ohka Kogyo has manufacturing facilities in the United States, Taiwan, China, and South Korea.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSE:4186 has been successfully added to your 