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.
Magnit PJSC's Sloan Ratio for the quarter that ended in Jun. 2023 was -10.54%.
As of Jun. 2023, Magnit PJSC has a Sloan Ratio of -10.54%, indicating there is a warning stage of accrual build up.
Magnit PJSC Sloan Ratio % Historical Data
The historical data trend for Magnit PJSC'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 Magnit PJSC's Sloan Ratio %
For the Discount Stores subindustry, Magnit PJSC'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.
Magnit PJSC's Sloan Ratio % Distribution in the Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Magnit PJSC's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Magnit PJSC's Sloan Ratio % falls into.
Magnit PJSC 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.
Magnit PJSC's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Magnit PJSC's Net Income for the trailing twelve months (TTM) ended in Jun. 2023 was -10775.9 (Dec. 2022 ) + 187919.743 (Jun. 2023 ) = ₸177,144 Mil.
Magnit PJSC's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2023 was 982737.439 (Dec. 2022 ) + 203646.362 (Jun. 2023 ) = ₸1,186,384 Mil.
Magnit PJSC's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2023 was -47831.634 (Dec. 2022 ) + -146118.977 (Jun. 2023 ) = ₸-193,951 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.
Magnit PJSC (XKAZ:RU_MGNT) 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 Jun. 2023, Magnit PJSC has a Sloan Ratio of -10.54%, indicating there is a warning stage of accrual build up.
Magnit PJSC Sloan Ratio % Related Terms
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PJSC Magnit operates in the retail and distribution of consumer goods under the Magnit, the DIXY and the Megamart names. The Group's retail operations are operated through convenience stores, cosmetic stores, supermarkets and other. The Group's business operations are located in the Russian Federation and relate primarily to retail sales of consumer goods. The company operates in about 4,000 localities. The company utilizes a multiformat model, which includes convenience and drogerie stores, supermarkets and pharmacies. Aside from commodity sales, it operates a private-label food production business. The company manages several plants for growing vegetables and the production of dry food and confectionery.
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