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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, Chugoku Electric Power Co has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Chugoku Electric Power Co (OTCPK:CGKEY) 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, Chugoku Electric Power Co has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Chugoku Electric Power Co Sloan Ratio % Related Terms
Chugoku Electric Power Co 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.
Chugoku Electric Power Co Sloan Ratio % Competitor Comparison
For the Utilities - Renewable subindustry, Chugoku Electric Power Co'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.
Chugoku Electric Power Co Sloan Ratio % vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Chugoku Electric Power Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Chugoku Electric Power Co's Sloan Ratio % falls into.
Chugoku Electric Power Co 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.
Chugoku Electric Power Co's Sloan Ratio for the fiscal year that ended in Mar. 2026 is calculated as
Chugoku Electric Power Co's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 185.502 (Jun. 2025 ) + 256.684 (Sep. 2025 ) + 34.936 (Dec. 2025 ) + -10.486 (Mar. 2026 ) = $467 Mil.
Chugoku Electric Power Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 0 (Jun. 2025 ) + 0 (Sep. 2025 ) + 0 (Dec. 2025 ) + 0 (Mar. 2026 ) = $0 Mil.
Chugoku Electric Power Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 0 (Jun. 2025 ) + 0 (Sep. 2025 ) + 0 (Dec. 2025 ) + 0 (Mar. 2026 ) = $0 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.
Chugoku Electric Power Co (CGKEY) has a Sloan Ratio % of 0.00% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Chugoku Electric Power Co and its competitors.
Is Chugoku Electric Power Co's Sloan Ratio % too high?
Chugoku Electric Power Co's current Sloan Ratio % is 0.00%. Overall, Chugoku Electric Power Co has a GF Score™ of 58/100, reflecting its overall financial health beyond just this single metric.
How does Chugoku Electric Power Co's Sloan Ratio % compare to competitors?
Chugoku Electric Power Co's Sloan Ratio % of 0.00% can be compared against companies in the Utilities - Independent Power Producers 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 Utilities - Independent Power Producers company?
A good Sloan Ratio % depends on the Utilities - Independent Power Producers 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 Chugoku Electric Power Co and its competitors. Chugoku Electric Power Co's current Sloan Ratio % is 0.00%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chugoku Electric Power Co stock overvalued right now?
Chugoku Electric Power Co (CGKEY) has a current Sloan Ratio % of 0.00%. The stock's GF Value™ is $8.86, compared to a current price of $9.69 — trading 9.4% above its estimated fair value. The current Sloan Ratio % is 0.00%. Chugoku Electric Power Co's overall GF Score™ is 58/100 with 7 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 Chugoku Electric Power Co (CGKEY), the current Sloan Ratio % is 0.00% 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 Chugoku Electric Power Co (CGKEY) Overvalued in 2026?
Based on GuruFocus' analysis, Chugoku Electric Power Co stock appears to be overvalued.
The current stock price of $9.69 is trading 9.4% above its estimated GF Value™ of $8.86.
Key valuation signals for CGKEY:
Sloan Ratio %: 0.00%
GF Value™: $8.86 vs. price of $9.69 (9.4% above fair value)
No single metric tells the full story. See the CGKEY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chugoku Electric Power Co Inc is a Japanese electric utility company mainly serving the industrial region of Chugoku on the western end of Japan's main island of Honshu. The company is involved in the generation, transmission, distribution, and supply of energy. Chugoku Electric owns and operates a portfolio of thermal, nuclear, and hydroelectric power plants located mainly in its home region. While majority of these energy-generating facilities are hydroelectric, the vast majority of the company's total energy production comes from its thermal sites. It generates revenue mainly from the sale of electric power to commercial and industrial customers in Chugoku. The company also owns assets and offers consulting and training services throughout Southeast Asia.
58GF Score
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