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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 Mar. 2026, Companhia Brasileira de Aluminio has a Sloan Ratio of -2.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Companhia Brasileira de Aluminio (BSP:CBAV3) 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 Mar. 2026, Companhia Brasileira de Aluminio has a Sloan Ratio of -2.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Companhia Brasileira de Aluminio Sloan Ratio % Related Terms
Companhia Brasileira de Aluminio 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.
Companhia Brasileira de Aluminio Sloan Ratio % Chart
BSP:CBAV3 vs AA, CENX, CSTM: Sloan Ratio % Comparison
For the Aluminum subindustry, Companhia Brasileira de Aluminio'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.
Companhia Brasileira de Aluminio Sloan Ratio % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Companhia Brasileira de Aluminio's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Companhia Brasileira de Aluminio's Sloan Ratio % falls into.
Companhia Brasileira de Aluminio 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.
Companhia Brasileira de Aluminio's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -94.322 (Jun. 2025 ) + 103.557 (Sep. 2025 ) + -193.178 (Dec. 2025 ) + 306.437 (Mar. 2026 ) = R$122 Mil.
Companhia Brasileira de Aluminio's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -29.967 (Jun. 2025 ) + 286.83 (Sep. 2025 ) + 486.022 (Dec. 2025 ) + 210.396 (Mar. 2026 ) = R$953 Mil.
Companhia Brasileira de Aluminio's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -0.864 (Jun. 2025 ) + -170.986 (Sep. 2025 ) + -166.86 (Dec. 2025 ) + -177.546 (Mar. 2026 ) = R$-516 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.
Companhia Brasileira de Aluminio (BSP:CBAV3) has a Sloan Ratio % of -2.23% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Companhia Brasileira de Aluminio and its competitors.
Is Companhia Brasileira de Aluminio's Sloan Ratio % too high?
Companhia Brasileira de Aluminio's current Sloan Ratio % is -2.23%. Overall, Companhia Brasileira de Aluminio has a GF Score™ of 55/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Companhia Brasileira de Aluminio's Sloan Ratio % compare to AA and CENX?
Companhia Brasileira de Aluminio's Sloan Ratio % of -2.23% can be compared against companies in the Metals & Mining 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 Metals & Mining company?
A good Sloan Ratio % depends on the Metals & Mining 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 Companhia Brasileira de Aluminio and its competitors. Companhia Brasileira de Aluminio's current Sloan Ratio % is -2.23%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Companhia Brasileira de Aluminio stock overvalued right now?
Based on GuruFocus' analysis, Companhia Brasileira de Aluminio (BSP:CBAV3) is currently considered Significantly Overvalued. The stock's GF Value™ is R$5.48, compared to a current price of R$11.11 — trading 102.7% above its estimated fair value. The current Sloan Ratio % is -2.23%. Companhia Brasileira de Aluminio's overall GF Score™ is 55/100 with 11 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 Companhia Brasileira de Aluminio (BSP:CBAV3), the current Sloan Ratio % is -2.23% as of Mar. 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 Companhia Brasileira de Aluminio (BSP:CBAV3) Overvalued in 2026?
Based on GuruFocus' analysis, Companhia Brasileira de Aluminio stock appears to be overvalued.
The current stock price of R$11.11 is trading 102.7% above its estimated GF Value™ of R$5.48.
GuruFocus considers Companhia Brasileira de Aluminio to be Significantly Overvalued.
Key valuation signals for BSP:CBAV3:
Sloan Ratio %: -2.23%
GF Value™: R$5.48 vs. price of R$11.11 (102.7% above fair value)
No single metric tells the full story. See the BSP:CBAV3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Companhia Brasileira de Aluminio SA is engaged in the exploration of bauxite mining in Brazil, producing and/or trading bauxite, alumina, primary aluminum, and semi-fabricated products in Brazil and abroad. The Company has a wide product range, such as ingots, billets, plates, coils, foil, and extruded products. The company has three operating segments; the Aluminum segment comprises the operations of the aluminum production chain, from bauxite mining to the production of primary and downstream products, the Energy segment; Comprises the sale of surplus energy to the market, and others segment.
55GF Score
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