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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.
Lumos Diagnostics Holdings (ASX:LDX) 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. 2025, Lumos Diagnostics Holdings has a Sloan Ratio of -32.27%, indicating there is a warning stage of accrual build up.
Lumos Diagnostics Holdings Sloan Ratio % Related Terms
Lumos Diagnostics Holdings 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.
ASX:LDX vs ABT, SYK, MDT: Sloan Ratio % Comparison
For the Medical Devices subindustry, Lumos Diagnostics 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.
Lumos Diagnostics Holdings Sloan Ratio % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Lumos Diagnostics Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Lumos Diagnostics Holdings's Sloan Ratio % falls into.
Lumos Diagnostics Holdings 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.
Lumos Diagnostics Holdings's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was -6.726 (Jun. 2025 ) + -7.344 (Dec. 2025 ) = A$-14.07 Mil.
Lumos Diagnostics Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was -4.636 (Jun. 2025 ) + 1.15 (Dec. 2025 ) = A$-3.49 Mil.
Lumos Diagnostics Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was -0.055 (Jun. 2025 ) + -0.28 (Dec. 2025 ) = A$-0.34 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.
Lumos Diagnostics Holdings (ASX:LDX) has a Sloan Ratio % of -32.27% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Lumos Diagnostics Holdings and its competitors.
Is Lumos Diagnostics Holdings' Sloan Ratio % too high?
Lumos Diagnostics Holdings' current Sloan Ratio % is -32.27%. Overall, Lumos Diagnostics Holdings has a GF Score™ of 18/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lumos Diagnostics Holdings' Sloan Ratio % compare to ABT and SYK?
Lumos Diagnostics Holdings' Sloan Ratio % of -32.27% can be compared against companies in the Medical Devices & Instruments 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 Medical Devices & Instruments company?
A good Sloan Ratio % depends on the Medical Devices & Instruments 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 Lumos Diagnostics Holdings and its competitors. Lumos Diagnostics Holdings's current Sloan Ratio % is -32.27%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lumos Diagnostics Holdings stock overvalued right now?
Based on GuruFocus' analysis, Lumos Diagnostics Holdings (ASX:LDX) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.03, compared to a current price of A$0.11 — trading 266.7% above its estimated fair value. The current Sloan Ratio % is -32.27%. Lumos Diagnostics Holdings' overall GF Score™ is 18/100 with 7 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 Lumos Diagnostics Holdings (ASX:LDX), the current Sloan Ratio % is -32.27% 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.
Is Lumos Diagnostics Holdings (ASX:LDX) Overvalued in 2026?
Based on GuruFocus' analysis, Lumos Diagnostics Holdings stock appears to be overvalued.
The current stock price of A$0.11 is trading 266.7% above its estimated GF Value™ of A$0.03.
GuruFocus considers Lumos Diagnostics Holdings to be Significantly Overvalued.
Key valuation signals for ASX:LDX:
Sloan Ratio %: -32.27%
GF Value™: A$0.03 vs. price of A$0.11 (266.7% above fair value)
No single metric tells the full story. See the ASX:LDX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lumos Diagnostics Holdings Ltd is engaged in the development, manufacture, and distribution of point-of-care diagnostic (POC) tests and associated readers for analysis of POC diagnostic tests. The group is dedicated to providing contract research and development services, focusing on the innovation, development, manufacturing, and commercialization of point-of-care diagnostic solutions for both clinical and consumer applications. It generates maximum revenue from commercial services and solutions relating to POC diagnostic tests. The group has one operating segment, which is the provision of point-of-care diagnostics goods and services. The Company operates in two geographical regions, the United States and Australia and the majority of revenue is generated from the United States.
18GF Score
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