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.
As of Dec. 2023, Societe Fonciere Lyonnaise has a Sloan Ratio of -9.82%, indicating the company is in the safe zone and there is no funny business with accruals.
Societe Fonciere Lyonnaise Sloan Ratio % Historical Data
* 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 Societe Fonciere Lyonnaise's Sloan Ratio %
For the REIT - Office subindustry, Societe Fonciere Lyonnaise'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.
Societe Fonciere Lyonnaise's Sloan Ratio % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Societe Fonciere Lyonnaise's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Societe Fonciere Lyonnaise's Sloan Ratio % falls into.
Societe Fonciere Lyonnaise 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.
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Societe Fonciere Lyonnaise's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was -177.474 (Jun. 2023 ) + -461.293 (Dec. 2023 ) = €-638.8 Mil.
Societe Fonciere Lyonnaise's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 35.888 (Jun. 2023 ) + 79.43 (Dec. 2023 ) = €115.3 Mil.
Societe Fonciere Lyonnaise's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was 11.723 (Jun. 2023 ) + -36.031 (Dec. 2023 ) = €-24.3 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.
Societe Fonciere Lyonnaise (XPAR:FLY) 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 Dec. 2023, Societe Fonciere Lyonnaise has a Sloan Ratio of -9.82%, indicating the company is in the safe zone and there is no funny business with accruals.
Societe Fonciere Lyonnaise Sloan Ratio % Related Terms
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Societe Fonciere Lyonnaise (XPAR:FLY) Business Description
Societe Fonciere Lyonnaise SA, or SFL, is a French real estate company primarily involved in the acquisition, development, renovation, and leasing of large office buildings in the major business districts of central and western Paris. The company's real estate portfolio is mostly composed of modern office buildings. Retail properties also make up a sizable amount of SFL's holdings. The vast majority of the company's assets are located in Paris' central business district. SFL derives nearly all of its income in the form of rental revenue from leasing its properties to companies. Its largest tenants include law firms, consultancies, fashion houses, media companies, and financial services groups.
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