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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.
Chiang Mai Ram Medical Business PCL (BKK:CMR-R) 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, Chiang Mai Ram Medical Business PCL has a Sloan Ratio of 13.22%, indicating there is a warning stage of accrual build up.
Chiang Mai Ram Medical Business PCL Sloan Ratio % Related Terms
Chiang Mai Ram Medical Business PCL 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.
Chiang Mai Ram Medical Business PCL Sloan Ratio % Chart
BKK:CMR-R vs HCA, THC, EHC: Sloan Ratio % Comparison
For the Medical Care Facilities subindustry, Chiang Mai Ram Medical Business PCL'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.
Chiang Mai Ram Medical Business PCL Sloan Ratio % vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Chiang Mai Ram Medical Business PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Chiang Mai Ram Medical Business PCL's Sloan Ratio % falls into.
Chiang Mai Ram Medical Business PCL 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.
Chiang Mai Ram Medical Business PCL's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was -79.952 (Sep. 2025 ) + 2452.026 (Dec. 2025 ) + 30.91 (Mar. 2026 ) + 9.954 (Jun. 2026 ) = ฿2,413 Mil.
Chiang Mai Ram Medical Business PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 337.743 (Sep. 2025 ) + -29.295 (Dec. 2025 ) + 41.885 (Mar. 2026 ) + 53.947 (Jun. 2026 ) = ฿404 Mil.
Chiang Mai Ram Medical Business PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was 817.441 (Sep. 2025 ) + 192.25 (Dec. 2025 ) + -3.271 (Mar. 2026 ) + -19.011 (Jun. 2026 ) = ฿987 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.
Chiang Mai Ram Medical Business PCL (BKK:CMR-R) has a Sloan Ratio % of 13.22% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Chiang Mai Ram Medical Business PCL and its competitors.
Is Chiang Mai Ram Medical Business PCL's Sloan Ratio % too high?
Chiang Mai Ram Medical Business PCL's current Sloan Ratio % is 13.22%. Overall, Chiang Mai Ram Medical Business PCL has a GF Score™ of 36/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Chiang Mai Ram Medical Business PCL's Sloan Ratio % compare to HCA and THC?
Chiang Mai Ram Medical Business PCL's Sloan Ratio % of 13.22% can be compared against companies in the Healthcare Providers & 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 Healthcare Providers & Services company?
A good Sloan Ratio % depends on the Healthcare Providers & 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 Chiang Mai Ram Medical Business PCL and its competitors. Chiang Mai Ram Medical Business PCL's current Sloan Ratio % is 13.22%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chiang Mai Ram Medical Business PCL stock overvalued right now?
Based on GuruFocus' analysis, Chiang Mai Ram Medical Business PCL (BKK:CMR-R) is currently considered Significantly Overvalued. The stock's GF Value™ is ฿0.55, compared to a current price of ฿1.30 — trading 136.4% above its estimated fair value. The current Sloan Ratio % is 13.22%. Chiang Mai Ram Medical Business PCL's overall GF Score™ is 36/100 with 9 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 Chiang Mai Ram Medical Business PCL (BKK:CMR-R), the current Sloan Ratio % is 13.22% 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 Chiang Mai Ram Medical Business PCL (BKK:CMR-R) Overvalued in 2026?
Based on GuruFocus' analysis, Chiang Mai Ram Medical Business PCL stock appears to be overvalued.
The current stock price of ฿1.30 is trading 136.4% above its estimated GF Value™ of ฿0.55.
GuruFocus considers Chiang Mai Ram Medical Business PCL to be Significantly Overvalued.
Key valuation signals for BKK:CMR-R:
Sloan Ratio %: 13.22%
GF Value™: ฿0.55 vs. price of ฿1.30 (136.4% above fair value)
No single metric tells the full story. See the BKK:CMR-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chiang Mai Ram Medical Business PCL is a Thailand-based company. It provides medical services in the nature of General Hospital, Hospital in Social Security, and the national health security office systems. It offers various medical services including a Dental center, X-ray mobile for a checkup, CT Multislice, Cardiac Catheterization Center, Back pain center, Gynecologic Cancer center, Physical therapy, Operating theatres, Laboratory, Ambulance Services, and Health checkup center, and others. The company provides medical services through the Lanna Hospital.
36GF Score
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