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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.
ANA Holdings's Sloan Ratio for the quarter that ended in Jun. 2026 was 0.00%.
As of Jun. 2026, ANA Holdings has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
ANA Holdings (OTCPK:ALNPY) 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. 2026, ANA Holdings has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
ANA Holdings Sloan Ratio % Related Terms
ANA Holdings Sloan Ratio % Historical Data
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The historical data trend for ANA Holdings'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 Airlines subindustry, ANA Holdings'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.
ANA Holdings Sloan Ratio % vs Transportation Industry
For the Transportation industry and Industrials sector, ANA Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where ANA Holdings'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.
ANA Holdings's Sloan Ratio for the fiscal year that ended in Mar. 2026 is calculated as
ANA Holdings's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 359.333 (Sep. 2025 ) + 405.028 (Dec. 2025 ) + 188.048 (Mar. 2026 ) + 120.738 (Jun. 2026 ) = $1,073 Mil.
ANA Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 572.246 (Sep. 2025 ) + 0 (Dec. 2025 ) + 0 (Mar. 2026 ) + 555.048 (Jun. 2026 ) = $1,127 Mil.
ANA Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -1572.078 (Sep. 2025 ) + 0 (Dec. 2025 ) + 0 (Mar. 2026 ) + 1088.928 (Jun. 2026 ) = $-483 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.
ANA Holdings (ALNPY) has a Sloan Ratio % of 0.00% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on ANA Holdings and its competitors.
Is ANA Holdings' Sloan Ratio % too high?
ANA Holdings' current Sloan Ratio % is 0.00%. Overall, ANA Holdings has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does ANA Holdings' Sloan Ratio % compare to DAL and UAL?
ANA Holdings' Sloan Ratio % of 0.00% can be compared against companies in the Transportation 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 Transportation company?
A good Sloan Ratio % depends on the Transportation 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 ANA Holdings and its competitors. ANA Holdings's current Sloan Ratio % is 0.00%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ANA Holdings stock overvalued right now?
Based on GuruFocus' analysis, ANA Holdings (ALNPY) is currently considered Fairly Valued. The stock's GF Value™ is $4.11, compared to a current price of $3.94 — trading 4.1% below its estimated fair value. The current Sloan Ratio % is 0.00%. ANA Holdings' overall GF Score™ is 79/100 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 ANA Holdings (ALNPY), the current Sloan Ratio % is 0.00% as of Jun. 2026. 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.
Is ANA Holdings (ALNPY) Overvalued in 2026?
Based on GuruFocus' analysis, ANA Holdings stock appears to be undervalued.
The current stock price of $3.94 is trading 4.1% below its estimated GF Value™ of $4.11.
GuruFocus considers ANA Holdings to be Fairly Valued.
Key valuation signals for ALNPY:
Sloan Ratio %: 0.00%
GF Value™: $4.11 vs. price of $3.94 (4.1% below fair value)
No single metric tells the full story. See the ALNPY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ANA Holdings is the holding firm of Japan's largest airline, All Nippon Airways. Besides the flagship carrier, ANA also owns discount airline Peach Aviation, Hokkaido-based Air Do, and airfreight carrier Nippon Cargo Airlines. Air Japan, which was launched to provide discount flights to Southeast Asia, will cease in 2026. Prior to covid-19, passenger transport made up over 50% of group revenue, split almost equally between domestic and international passenger routes while cargo revenue made up 4%-5%. Its primary hub is Tokyo's Narita International Airport, but it is also expanding routes from Haneda Airport. ANA has minor stakes in Philippine Airlines, Vietnam Airlines, and IHG ANA Hotels Group Japan. The latter is a hotel chain in Japan owned and operated by InterContinental Hotels Group.
79GF Score
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