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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 Jun. 2026, Petroleo Brasileiro Petrobras has a Sloan Ratio of 2.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Petroleo Brasileiro Petrobras (BSP:PETR3) 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, Petroleo Brasileiro Petrobras has a Sloan Ratio of 2.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Petroleo Brasileiro Petrobras Sloan Ratio % Related Terms
Petroleo Brasileiro Petrobras 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.
For the Oil & Gas Integrated subindustry, Petroleo Brasileiro Petrobras'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.
Petroleo Brasileiro Petrobras Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Petroleo Brasileiro Petrobras's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Petroleo Brasileiro Petrobras's Sloan Ratio % falls into.
Petroleo Brasileiro Petrobras 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.
Petroleo Brasileiro Petrobras's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 32322.801 (Sep. 2025 ) + 15816.074 (Dec. 2025 ) + 32431.066 (Mar. 2026 ) + 53434.115 (Jun. 2026 ) = R$134,004 Mil.
Petroleo Brasileiro Petrobras's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 52857.728 (Sep. 2025 ) + 55440.823 (Dec. 2025 ) + 43662.741 (Mar. 2026 ) + 63025.636 (Jun. 2026 ) = R$214,987 Mil.
Petroleo Brasileiro Petrobras's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -25554.695 (Sep. 2025 ) + -35713.012 (Dec. 2025 ) + -18678.421 (Mar. 2026 ) + -29332.024 (Jun. 2026 ) = R$-109,278 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.
Petroleo Brasileiro Petrobras (BSP:PETR3) has a Sloan Ratio % of 2.23% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Petroleo Brasileiro Petrobras and its competitors.
Is Petroleo Brasileiro Petrobras' Sloan Ratio % too high?
Petroleo Brasileiro Petrobras' current Sloan Ratio % is 2.23%. Overall, Petroleo Brasileiro Petrobras has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Petroleo Brasileiro Petrobras' Sloan Ratio % compare to XOM and CVX?
Petroleo Brasileiro Petrobras' Sloan Ratio % of 2.23% can be compared against companies in the Oil & Gas 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 an Oil & Gas company?
A good Sloan Ratio % depends on the Oil & Gas 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 Petroleo Brasileiro Petrobras and its competitors. Petroleo Brasileiro Petrobras'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 Petroleo Brasileiro Petrobras stock overvalued right now?
Based on GuruFocus' analysis, Petroleo Brasileiro Petrobras (BSP:PETR3) is currently considered Modestly Overvalued. The stock's GF Value™ is R$41.00, compared to a current price of R$46.53 — trading 13.5% above its estimated fair value. The current Sloan Ratio % is 2.23%. Petroleo Brasileiro Petrobras' overall GF Score™ is 78/100 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 Petroleo Brasileiro Petrobras (BSP:PETR3), the current Sloan Ratio % is 2.23% 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 Petroleo Brasileiro Petrobras (BSP:PETR3) Overvalued in 2026?
Based on GuruFocus' analysis, Petroleo Brasileiro Petrobras stock appears to be overvalued.
The current stock price of R$46.53 is trading 13.5% above its estimated GF Value™ of R$41.00.
GuruFocus considers Petroleo Brasileiro Petrobras to be Modestly Overvalued.
Key valuation signals for BSP:PETR3:
Sloan Ratio %: 2.23%
GF Value™: R$41.00 vs. price of R$46.53 (13.5% above fair value)
No single metric tells the full story. See the BSP:PETR3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on the exploration and production of oil and gas in Brazilian offshore fields. Production in 2025 was 3.0 million barrels of oil equivalent per day (80% oil), and reserves stood at 12.1 billion boe (84% oil). At the end of 2025, Petrobras operated 10 refineries in Brazil with a capacity of 1.8 million barrels per day and distributed refined products and natural gas throughout the country.
78GF Score
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