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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.
Alpha HPA's Sloan Ratio for the quarter that ended in Dec. 2025 was 13.39%.
As of Dec. 2025, Alpha HPA has a Sloan Ratio of 13.39%, indicating there is a warning stage of accrual build up.
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. 2025, Alpha HPA has a Sloan Ratio of 13.39%, indicating there is a warning stage of accrual build up.
Alpha HPA Sloan Ratio % Related Terms
Alpha HPA Sloan Ratio % Historical Data
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The historical data trend for Alpha HPA'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.
For the Aluminum subindustry, Alpha HPA'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.
Alpha HPA Sloan Ratio % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Alpha HPA's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Alpha HPA's Sloan Ratio % falls into.
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.
Alpha HPA's Sloan Ratio for the fiscal year that ended in Jun. 2025 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Alpha HPA's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was -10.882 (Jun. 2025 ) + -14.975 (Dec. 2025 ) = $-25.86 Mil.
Alpha HPA's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was 6.014 (Jun. 2025 ) + -14.567 (Dec. 2025 ) = $-8.55 Mil.
Alpha HPA's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was -3.591 (Jun. 2025 ) + -40.89 (Dec. 2025 ) = $-44.48 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.
Alpha HPA (ALHPF) has a Sloan Ratio % of 13.39% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Alpha HPA and its competitors.
Is Alpha HPA's Sloan Ratio % too high?
Alpha HPA's current Sloan Ratio % is 13.39%. Overall, Alpha HPA has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Alpha HPA's Sloan Ratio % compare to AA and CENX?
Alpha HPA's Sloan Ratio % of 13.39% can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for a Metals & Mining company?
A good Sloan Ratio % depends on the Metals & Mining industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Alpha HPA and its competitors. Alpha HPA's current Sloan Ratio % is 13.39%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alpha HPA stock overvalued right now?
Alpha HPA (ALHPF) has a current Sloan Ratio % of 13.39%. The current Sloan Ratio % is 13.39%. Alpha HPA's overall GF Score™ is 11/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Alpha HPA (ALHPF), the current Sloan Ratio % is 13.39% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Alpha HPA Ltd is an Australian metals and technology company. It is engaged in producing ultra-high purity alumina (HPA) and related aluminium materials through its proprietary solvent extraction (SX) and refining technology. The group's product offerings include a range of ultra-high purity aluminium oxides, hydroxides, and nitrates suitable for various high technology industries, including technical ceramics, LED lighting, synthetic sapphire, semiconductors, specialty catalysts, Direct Lithium Extraction (DLE) technology, and lithium-ion battery markets, among others. It has two reportable segments being the development of the HPA First Project, which generates maximum revenue, and the Alpha Sapphire Project.
11GF Score
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