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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.
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica (BSP:BTAL11) 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. 2025, Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica has a Sloan Ratio of 1.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica Sloan Ratio % Related Terms
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica 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.
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica Sloan Ratio % Chart
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica Annual Data
Trend
Jun21
Jun22
Jun23
Jun24
Jun25
Sloan Ratio %
0.00
30.29
2.11
6.45
1.23
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica Semi-Annual Data
Jun21
Jun22
Jun23
Jun24
Jun25
Sloan Ratio %
0.00
30.29
2.11
6.45
1.23
BSP:BTAL11 vs PLD, PSA, EXR: Sloan Ratio % Comparison
* 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.
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica Sloan Ratio % vs REITs Industry
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica 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 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.
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica (BSP:BTAL11) has a Sloan Ratio % of 1.23% as of Jun. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica and its competitors.
Is Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica's Sloan Ratio % too high?
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica's current Sloan Ratio % is 1.23%. Overall, Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica has a GF Score™ of 59/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica's Sloan Ratio % compare to PLD and PSA?
Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica's Sloan Ratio % of 1.23% can be compared against companies in the REITs 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 REITs company?
A good Sloan Ratio % depends on the REITs 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 Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica and its competitors. Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica's current Sloan Ratio % is 1.23%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica stock overvalued right now?
Based on GuruFocus' analysis, Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica (BSP:BTAL11) is currently considered Modestly Undervalued. The stock's GF Value™ is R$91.42, compared to a current price of R$82.40 — trading 9.9% below its estimated fair value. The current Sloan Ratio % is 1.23%. Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica's overall GF Score™ is 59/100 with 1 warning sign 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 Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica (BSP:BTAL11), the current Sloan Ratio % is 1.23% as of Jun. 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 Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica (BSP:BTAL11) Overvalued in 2026?
Based on GuruFocus' analysis, Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica stock appears to be undervalued.
The current stock price of R$82.40 is trading 9.9% below its estimated GF Value™ of R$91.42.
GuruFocus considers Fundo DE Investimento Imobiliario BTG Pactual Agro Logistica to be Modestly Undervalued.
Key valuation signals for BSP:BTAL11:
Sloan Ratio %: 1.23%
GF Value™: R$91.42 vs. price of R$82.40 (9.9% below fair value)
No single metric tells the full story. See the BSP:BTAL11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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