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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.
International Meal Co Alimentacao (BSP:MEAL3) 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, International Meal Co Alimentacao has a Sloan Ratio of -18.35%, indicating there is a warning stage of accrual build up.
International Meal Co Alimentacao Sloan Ratio % Related Terms
International Meal Co Alimentacao 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.
International Meal Co Alimentacao Sloan Ratio % Chart
BSP:MEAL3 vs MCD, SBUX, CMG: Sloan Ratio % Comparison
For the Restaurants subindustry, International Meal Co Alimentacao'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.
International Meal Co Alimentacao Sloan Ratio % vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, International Meal Co Alimentacao's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where International Meal Co Alimentacao's Sloan Ratio % falls into.
International Meal Co Alimentacao 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.
International Meal Co Alimentacao's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was -27.01 (Sep. 2025 ) + -50.881 (Dec. 2025 ) + -74.098 (Mar. 2026 ) + -12.73 (Jun. 2026 ) = R$-165 Mil.
International Meal Co Alimentacao's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -5.694 (Sep. 2025 ) + -12.988 (Dec. 2025 ) + 28.529 (Mar. 2026 ) + 106.178 (Jun. 2026 ) = R$116 Mil.
International Meal Co Alimentacao's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -19.583 (Sep. 2025 ) + 15.148 (Dec. 2025 ) + 96.429 (Mar. 2026 ) + -5.065 (Jun. 2026 ) = R$87 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.
International Meal Co Alimentacao (BSP:MEAL3) has a Sloan Ratio % of -18.35% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on International Meal Co Alimentacao and its competitors.
Is International Meal Co Alimentacao's Sloan Ratio % too high?
International Meal Co Alimentacao's current Sloan Ratio % is -18.35%. Overall, International Meal Co Alimentacao has a GF Score™ of 48/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does International Meal Co Alimentacao's Sloan Ratio % compare to MCD and SBUX?
International Meal Co Alimentacao's Sloan Ratio % of -18.35% can be compared against companies in the Restaurants 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 Restaurants company?
A good Sloan Ratio % depends on the Restaurants 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 International Meal Co Alimentacao and its competitors. International Meal Co Alimentacao's current Sloan Ratio % is -18.35%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is International Meal Co Alimentacao stock overvalued right now?
Based on GuruFocus' analysis, International Meal Co Alimentacao (BSP:MEAL3) is currently considered Possible Value Trap. The stock's GF Value™ is R$1.49, compared to a current price of R$0.66 — trading 55.7% below its estimated fair value. The current Sloan Ratio % is -18.35%. International Meal Co Alimentacao's overall GF Score™ is 48/100 with 3 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 International Meal Co Alimentacao (BSP:MEAL3), the current Sloan Ratio % is -18.35% 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 International Meal Co Alimentacao (BSP:MEAL3) Overvalued in 2026?
Based on GuruFocus' analysis, International Meal Co Alimentacao stock appears to be undervalued.
The current stock price of R$0.66 is trading 55.7% below its estimated GF Value™ of R$1.49.
GuruFocus considers International Meal Co Alimentacao to be Possible Value Trap.
Key valuation signals for BSP:MEAL3:
Sloan Ratio %: -18.35%
GF Value™: R$1.49 vs. price of R$0.66 (55.7% below fair value)
No single metric tells the full story. See the BSP:MEAL3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
International Meal Co Alimentacao SA is a Brazil-based company principally engaged in the sale of food and beverages to restaurants, snack bars, coffee shops, cafes on motorways, airports, shopping malls, and airline catering services. It also subleases stores and spaces for promotional and commercial purposes in its store chain, upon the sale of fuel, and provides general services related to these segments. The company operates in five segments: Shopping malls, Airports, Highways, the United States of America (USA), and Others. Some of its brands are Viena, Olive Garden, Margaritaville, KFC Brazil, and Pizza Hut Brazil. Its geographical segments are Brazil, The Caribbean, and the USA.
48GF Score
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