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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.
As of Jun. 2026, KGI Securities (Thailand) PCL has a Sloan Ratio of 2.11%, indicating the company is in the safe zone and there is no funny business with accruals.
KGI Securities (Thailand) PCL (BKK:KGI) 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, KGI Securities (Thailand) PCL has a Sloan Ratio of 2.11%, indicating the company is in the safe zone and there is no funny business with accruals.
KGI Securities (Thailand) PCL Sloan Ratio % Related Terms
KGI Securities (Thailand) 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.
For the Capital Markets subindustry, KGI Securities (Thailand) 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.
KGI Securities (Thailand) PCL Sloan Ratio % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, KGI Securities (Thailand) PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where KGI Securities (Thailand) PCL's Sloan Ratio % falls into.
KGI Securities (Thailand) 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.
KGI Securities (Thailand) PCL's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 357.628 (Sep. 2025 ) + 162.354 (Dec. 2025 ) + 318.59 (Mar. 2026 ) + 397.884 (Jun. 2026 ) = ฿1,236 Mil.
KGI Securities (Thailand) PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -493.434 (Sep. 2025 ) + 1462.008 (Dec. 2025 ) + -957.842 (Mar. 2026 ) + 151.244 (Jun. 2026 ) = ฿162 Mil.
KGI Securities (Thailand) PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was 482.209 (Sep. 2025 ) + -1350.685 (Dec. 2025 ) + 1188.855 (Mar. 2026 ) + 236.089 (Jun. 2026 ) = ฿556 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.
KGI Securities (Thailand) PCL (BKK:KGI) has a Sloan Ratio % of 2.11% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on KGI Securities (Thailand) PCL and its competitors.
Is KGI Securities (Thailand) PCL's Sloan Ratio % too high?
KGI Securities (Thailand) PCL's current Sloan Ratio % is 2.11%. Overall, KGI Securities (Thailand) PCL has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does KGI Securities (Thailand) PCL's Sloan Ratio % compare to MS and GS?
KGI Securities (Thailand) PCL's Sloan Ratio % of 2.11% can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Sloan Ratio % depends on the Capital Markets 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 KGI Securities (Thailand) PCL and its competitors. KGI Securities (Thailand) PCL's current Sloan Ratio % is 2.11%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KGI Securities (Thailand) PCL stock overvalued right now?
Based on GuruFocus' analysis, KGI Securities (Thailand) PCL (BKK:KGI) is currently considered Fairly Valued. The stock's GF Value™ is ฿5.01, compared to a current price of ฿4.82 — trading 3.8% below its estimated fair value. The current Sloan Ratio % is 2.11%. KGI Securities (Thailand) PCL's overall GF Score™ is 70/100 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 KGI Securities (Thailand) PCL (BKK:KGI), the current Sloan Ratio % is 2.11% 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 KGI Securities (Thailand) PCL (BKK:KGI) Overvalued in 2026?
Based on GuruFocus' analysis, KGI Securities (Thailand) PCL stock appears to be undervalued.
The current stock price of ฿4.82 is trading 3.8% below its estimated GF Value™ of ฿5.01.
GuruFocus considers KGI Securities (Thailand) PCL to be Fairly Valued.
Key valuation signals for BKK:KGI:
Sloan Ratio %: 2.11%
GF Value™: ฿5.01 vs. price of ฿4.82 (3.8% below fair value)
No single metric tells the full story. See the BKK:KGI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KGI Securities (Thailand) PCL is a Thailand-based company engaged in the securities and derivatives business. Its business activities include securities brokerage, securities dealing, investment advisory, securities underwriting, securities borrowing and lending, securities registrar, derivatives brokerage, financial advisory, over-the-counter derivative business, sales agent of mutual fund units, and others. The operating segments of the company are the Securities and derivatives brokerage segment, Investment banking segment, Security trading segment and Asset management segment, of which key revenue is generated from the security trading segment. Geographically, the company operates in Thailand.
70GF Score
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