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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.
Argo Gold's Sloan Ratio for the quarter that ended in Dec. 2025 was -38.97%.
Warning Sign:
When sloan ratio (-38.55)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
As of Dec. 2025, Argo Gold has a Sloan Ratio of -38.97%, indicating earnings are more likely to be made up of accruals.
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, Argo Gold has a Sloan Ratio of -38.97%, indicating earnings are more likely to be made up of accruals.
Argo Gold Sloan Ratio % Related Terms
Argo Gold Sloan Ratio % Historical Data
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The historical data trend for Argo Gold'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 Gold subindustry, Argo Gold'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.
Argo Gold Sloan Ratio % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Argo Gold's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Argo Gold'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.
Argo Gold's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Argo Gold's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was 0.091 (Mar. 2025 ) + -0.119 (Jun. 2025 ) + 0.046 (Sep. 2025 ) + -0.69 (Dec. 2025 ) = $-0.67 Mil.
Argo Gold's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was 0.105 (Mar. 2025 ) + 0.02 (Jun. 2025 ) + 0.039 (Sep. 2025 ) + -0.08 (Dec. 2025 ) = $0.08 Mil.
Argo Gold's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was -0.041 (Mar. 2025 ) + -0.053 (Jun. 2025 ) + -0.009 (Sep. 2025 ) + -0.008 (Dec. 2025 ) = $-0.11 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.
Argo Gold (ARBTF) has a Sloan Ratio % of -38.97% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Argo Gold and its competitors.
Is Argo Gold's Sloan Ratio % too high?
Argo Gold's current Sloan Ratio % is -38.97%.
How does Argo Gold's Sloan Ratio % compare to NEM and AU?
Argo Gold's Sloan Ratio % of -38.97% 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 Argo Gold and its competitors. Argo Gold's current Sloan Ratio % is -38.97%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Argo Gold stock overvalued right now?
Based on GuruFocus' analysis, Argo Gold (ARBTF) is currently considered Significantly Overvalued. The current Sloan Ratio % is -38.97%. 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 Argo Gold (ARBTF), the current Sloan Ratio % is -38.97% 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.
Argo Gold Inc is currently engaged in the acquisition, exploration, and development of mineral properties, and the production, exploration, and development resource properties in Western Canada. Its project includes Oil Production in Alberta includes Mining Projects in Ontario, Strategic Metals Northeast Ontario; Uchi Gold Project includes Woco Zone in the Uchi Gold Project, Raingold Zone at Uchi Lake Gold Project, Northgate Zone Uchi Gold Project, Northwestern Ontario Gold Projects includes Talbot Lake Gold Project, Angela Lake Gold Project; North East Ontario Strategic Minerals includes Hurdman Zinc-Silver Property (Zn-Ag); Saskatchewan Strategic Metals includes North Saskatchewan Mineral Claims, Saskatchewan Uranium Mineral Claims.
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