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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, CIA Melhoramentos deo Paulo has a Sloan Ratio of 0.11%, indicating the company is in the safe zone and there is no funny business with accruals.
CIA Melhoramentos deo Paulo (BSP:MSPA3) 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, CIA Melhoramentos deo Paulo has a Sloan Ratio of 0.11%, indicating the company is in the safe zone and there is no funny business with accruals.
CIA Melhoramentos deo Paulo Sloan Ratio % Related Terms
CIA Melhoramentos deo Paulo 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.
BSP:MSPA3 vs SSD, UFPI, BCC: Sloan Ratio % Comparison
For the Lumber & Wood Production subindustry, CIA Melhoramentos deo Paulo'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.
CIA Melhoramentos deo Paulo Sloan Ratio % vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, CIA Melhoramentos deo Paulo's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where CIA Melhoramentos deo Paulo's Sloan Ratio % falls into.
CIA Melhoramentos deo Paulo 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.
CIA Melhoramentos deo Paulo's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -10.488 (Jun. 2025 ) + -9.976 (Sep. 2025 ) + -1.92 (Dec. 2025 ) + -13.629 (Mar. 2026 ) = R$-36.0 Mil.
CIA Melhoramentos deo Paulo's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -24.535 (Jun. 2025 ) + -20.579 (Sep. 2025 ) + 49.489 (Dec. 2025 ) + -1.23 (Mar. 2026 ) = R$3.1 Mil.
CIA Melhoramentos deo Paulo's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 22.565 (Jun. 2025 ) + -6.168 (Sep. 2025 ) + -49.126 (Dec. 2025 ) + -7.972 (Mar. 2026 ) = R$-40.7 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.
CIA Melhoramentos deo Paulo (BSP:MSPA3) has a Sloan Ratio % of 0.11% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on CIA Melhoramentos deo Paulo and its competitors.
Is CIA Melhoramentos deo Paulo's Sloan Ratio % too high?
CIA Melhoramentos deo Paulo's current Sloan Ratio % is 0.11%. Overall, CIA Melhoramentos deo Paulo has a GF Score™ of 51/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CIA Melhoramentos deo Paulo's Sloan Ratio % compare to SSD and UFPI?
CIA Melhoramentos deo Paulo's Sloan Ratio % of 0.11% can be compared against companies in the Forest Products 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 Forest Products company?
A good Sloan Ratio % depends on the Forest Products 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 CIA Melhoramentos deo Paulo and its competitors. CIA Melhoramentos deo Paulo's current Sloan Ratio % is 0.11%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CIA Melhoramentos deo Paulo stock overvalued right now?
Based on GuruFocus' analysis, CIA Melhoramentos deo Paulo (BSP:MSPA3) is currently considered Modestly Undervalued. The stock's GF Value™ is R$45.65, compared to a current price of R$38.29 — trading 16.1% below its estimated fair value. The current Sloan Ratio % is 0.11%. CIA Melhoramentos deo Paulo's overall GF Score™ is 51/100 with 5 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 CIA Melhoramentos deo Paulo (BSP:MSPA3), the current Sloan Ratio % is 0.11% 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 CIA Melhoramentos deo Paulo (BSP:MSPA3) Overvalued in 2026?
Based on GuruFocus' analysis, CIA Melhoramentos deo Paulo stock appears to be undervalued.
The current stock price of R$38.29 is trading 16.1% below its estimated GF Value™ of R$45.65.
GuruFocus considers CIA Melhoramentos deo Paulo to be Modestly Undervalued.
Key valuation signals for BSP:MSPA3:
Sloan Ratio %: 0.11%
GF Value™: R$45.65 vs. price of R$38.29 (16.1% below fair value)
No single metric tells the full story. See the BSP:MSPA3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CIA Melhoramentos de Sao Paulo primarily engages in publishing business in Brazil. It offers paperback and digital books primarily for children, teenagers, and schools; cooking books; and customized books for companies. The company also engages in developing and maintaining forests; conducting reforestation activities of pines and eucalyptus; and urban, industrial, or infrastructure projects of real estate development. In addition, it is involved in the production of fibers, such as thermo ground wood, Bleached Thermo Ground Wood and Neolux Fibers, used as raw material for the production of paperboard, tissue and special papers.
51GF Score
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