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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.
Thai Steel Cable PCL's Sloan Ratio for the quarter that ended in Jun. 2026 was -1.40%.
As of Jun. 2026, Thai Steel Cable PCL has a Sloan Ratio of -1.40%, indicating the company is in the safe zone and there is no funny business with accruals.
Thai Steel Cable PCL (BKK:TSC) 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, Thai Steel Cable PCL has a Sloan Ratio of -1.40%, indicating the company is in the safe zone and there is no funny business with accruals.
Thai Steel Cable PCL Sloan Ratio % Related Terms
Thai Steel Cable PCL Sloan Ratio % Historical Data
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The historical data trend for Thai Steel Cable PCL'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 Auto Parts subindustry, Thai Steel Cable 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.
Thai Steel Cable PCL Sloan Ratio % vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Thai Steel Cable PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Thai Steel Cable PCL'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.
Thai Steel Cable PCL's Sloan Ratio for the fiscal year that ended in Sep. 2025 is calculated as
Thai Steel Cable PCL's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 81.13 (Sep. 2025 ) + 78.585 (Dec. 2025 ) + 102.681 (Mar. 2026 ) + 72.433 (Jun. 2026 ) = ฿335 Mil.
Thai Steel Cable PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 140.93 (Sep. 2025 ) + 38.263 (Dec. 2025 ) + 109.881 (Mar. 2026 ) + 127.407 (Jun. 2026 ) = ฿416 Mil.
Thai Steel Cable PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -191.569 (Sep. 2025 ) + 80.504 (Dec. 2025 ) + 225.561 (Mar. 2026 ) + -166.089 (Jun. 2026 ) = ฿-52 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.
Thai Steel Cable PCL (BKK:TSC) has a Sloan Ratio % of -1.40% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Thai Steel Cable PCL and its competitors.
Is Thai Steel Cable PCL's Sloan Ratio % too high?
Thai Steel Cable PCL's current Sloan Ratio % is -1.40%. Overall, Thai Steel Cable PCL has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Thai Steel Cable PCL's Sloan Ratio % compare to ORLY and AZO?
Thai Steel Cable PCL's Sloan Ratio % of -1.40% can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Sloan Ratio % depends on the Vehicles & Parts 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 Thai Steel Cable PCL and its competitors. Thai Steel Cable PCL's current Sloan Ratio % is -1.40%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Steel Cable PCL stock overvalued right now?
Based on GuruFocus' analysis, Thai Steel Cable PCL (BKK:TSC) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿12.74, compared to a current price of ฿15.40 — trading 20.9% above its estimated fair value. The current Sloan Ratio % is -1.40%. Thai Steel Cable PCL's overall GF Score™ is 84/100 with 6 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 Thai Steel Cable PCL (BKK:TSC), the current Sloan Ratio % is -1.40% 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 Thai Steel Cable PCL (BKK:TSC) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Steel Cable PCL stock appears to be overvalued.
The current stock price of ฿15.40 is trading 20.9% above its estimated GF Value™ of ฿12.74.
GuruFocus considers Thai Steel Cable PCL to be Modestly Overvalued.
Key valuation signals for BKK:TSC:
Sloan Ratio %: -1.40%
GF Value™: ฿12.74 vs. price of ฿15.40 (20.9% above fair value)
No single metric tells the full story. See the BKK:TSC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Steel Cable PCL is a Thailand-based company engaged in the manufacture and sales of control cables, parts, and equipment for vehicles and motorcycles. Its products are divided into three categories: Automobile control cables which include products like accelerator cables, door lock cables, fuel lid opener cables, hood release cables, parking brake cables, seat belt cables, transmission cables, and trunk opener cables; Motorcycle control cables which include brake cables, clutch cables, seat lock cables, speedometer cables, tachometer cables, and throttle cables, and Automobile window regulators. The company operates only in Thailand.
84GF Score
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