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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.
Shine Justice's Sloan Ratio for the quarter that ended in Dec. 2025 was 0.46%.
As of Dec. 2025, Shine Justice has a Sloan Ratio of 0.46%, indicating the company is in the safe zone and there is no funny business with accruals.
Shine Justice (ASX:SHJ) 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, Shine Justice has a Sloan Ratio of 0.46%, indicating the company is in the safe zone and there is no funny business with accruals.
Shine Justice Sloan Ratio % Related Terms
Shine Justice Sloan Ratio % Historical Data
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The historical data trend for Shine Justice'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.
ASX:SHJ vs ROL, SCI, HRB: Sloan Ratio % Comparison
For the Personal Services subindustry, Shine Justice'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.
Shine Justice Sloan Ratio % vs Personal Services Industry
For the Personal Services industry and Consumer Cyclical sector, Shine Justice's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Shine Justice'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.
Shine Justice'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.
Shine Justice's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was 2.306 (Jun. 2025 ) + 7.691 (Dec. 2025 ) = A$10.0 Mil.
Shine Justice's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was 21.285 (Jun. 2025 ) + -12.882 (Dec. 2025 ) = A$8.4 Mil.
Shine Justice's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was 0.027 (Jun. 2025 ) + -1.17 (Dec. 2025 ) = A$-1.1 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.
Shine Justice (ASX:SHJ) has a Sloan Ratio % of 0.46% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Shine Justice and its competitors.
Is Shine Justice's Sloan Ratio % too high?
Shine Justice's current Sloan Ratio % is 0.46%. Overall, Shine Justice has a GF Score™ of 42/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shine Justice's Sloan Ratio % compare to ROL and SCI?
Shine Justice's Sloan Ratio % of 0.46% can be compared against companies in the Personal Services 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 Personal Services company?
A good Sloan Ratio % depends on the Personal Services 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 Shine Justice and its competitors. Shine Justice's current Sloan Ratio % is 0.46%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shine Justice stock overvalued right now?
Based on GuruFocus' analysis, Shine Justice (ASX:SHJ) is currently considered Modestly Undervalued. The stock's GF Value™ is A$0.73, compared to a current price of A$0.59 — trading 19.2% below its estimated fair value. The current Sloan Ratio % is 0.46%. Shine Justice's overall GF Score™ is 42/100 with 5 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 Shine Justice (ASX:SHJ), the current Sloan Ratio % is 0.46% 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 Shine Justice (ASX:SHJ) Overvalued in 2026?
Based on GuruFocus' analysis, Shine Justice stock appears to be undervalued.
The current stock price of A$0.59 is trading 19.2% below its estimated GF Value™ of A$0.73.
GuruFocus considers Shine Justice to be Modestly Undervalued.
Key valuation signals for ASX:SHJ:
Sloan Ratio %: 0.46%
GF Value™: A$0.73 vs. price of A$0.59 (19.2% below fair value)
No single metric tells the full story. See the ASX:SHJ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shine Justice Ltd offers legal services. It operates through the following business segments: Personal injury and Class Actions. The firm generates the majority of its revenue from the Personal injury segment. Its Personal injury segment includes motor vehicle accidents, workers' compensation, public liability, catastrophic injuries, and Others. Its firm includes Shine Lawyers, Sciaccas Lawyers, Stephen Browne Personal Injury Lawyers, Bradley Bayly Lawyers, and Carr & Co Divorce and Family Lawyers.
42GF Score
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