SalesGrowth
Quarterly Sales Growth — Lakonishok Shleifer and Vishny 1994
Profitability
Quick facts
| Factor ID | SalesGrowth |
| Display name | Quarterly Sales Growth |
| Family | Predictor |
| Category | Profitability |
| Direction | higher_expected_return |
| Status | supported |
| Paper | Lakonishok Shleifer and Vishny 1994 |
| Source tables | — |
| Required fields | — |
| PIT required | yes |
| Coverage | 2010-04-27 – 2026-05-15 · 673,604 rows · 98.3% of panel |
Formula
q_sales_yoy / 100
China adaptation
No adaptation note.
Direction-adjusted cumulative return
Return metrics
| Metric | Value |
|---|---|
| Months in sample | 193 |
| Monthly mean | 0.8304% |
| Monthly std | 2.4814% |
| Annualized Sharpe | 1.16 |
| t-stat (simple) | 4.65 |
| Hit rate (months > 0) | 65.8% |
| Last 12M compounded | 27.70% |
| Cumulative wealth (start = 1) | 4.656 |
Recent 12 months
| Month | L/S return | Cumulative | Names |
|---|---|---|---|
| 2025-05 | +1.83% | 3.713 | 5122 |
| 2025-06 | +0.34% | 3.725 | 5131 |
| 2025-07 | +6.74% | 3.976 | 5132 |
| 2025-08 | +3.53% | 4.116 | 5147 |
| 2025-09 | -2.18% | 4.027 | 5148 |
| 2025-10 | -2.51% | 3.926 | 5153 |
| 2025-11 | +4.33% | 4.096 | 5155 |
| 2025-12 | +3.23% | 4.228 | 5159 |
| 2026-01 | +0.45% | 4.247 | 5158 |
| 2026-02 | -1.23% | 4.195 | 5159 |
| 2026-03 | +7.07% | 4.491 | 5159 |
| 2026-04 | +3.66% | 4.656 | 5179 |
Known data issues
None recorded.
Notes
None recorded.
See also: Profitability family, Factor library, Factor returns.