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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.
JPMorgan Chase's Sloan Ratio for the quarter that ended in Mar. 2026 was 10.88%.
As of Mar. 2026, JPMorgan Chase has a Sloan Ratio of 10.88%, indicating there is a warning stage of accrual build up.
JPMorgan Chase (CHIX:CMCd) 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, JPMorgan Chase has a Sloan Ratio of 10.88%, indicating there is a warning stage of accrual build up.
JPMorgan Chase Sloan Ratio % Related Terms
JPMorgan Chase Sloan Ratio % Historical Data
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The historical data trend for JPMorgan Chase's Sloan Ratio % can be seen below:
* 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.
CHIX:CMCD vs BAC, WFC, C: Sloan Ratio % Comparison
For the Banks - Diversified subindustry, JPMorgan Chase'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.
JPMorgan Chase Sloan Ratio % vs Banks Industry
For the Banks industry and Financial Services sector, JPMorgan Chase's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where JPMorgan Chase's Sloan Ratio % falls into.
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.
JPMorgan Chase's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
JPMorgan Chase's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 12993.729 (Jun. 2025 ) + 12262.836 (Sep. 2025 ) + 11123.35 (Dec. 2025 ) + 14267.31 (Mar. 2026 ) = €50,647 Mil.
JPMorgan Chase's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 25617.249 (Jun. 2025 ) + -38522.328 (Sep. 2025 ) + 102244.296 (Dec. 2025 ) + -183173.265 (Mar. 2026 ) = €-93,834 Mil.
JPMorgan Chase's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -150043.02 (Jun. 2025 ) + -18156.972 (Sep. 2025 ) + 40037.228 (Dec. 2025 ) + -188370.185 (Mar. 2026 ) = €-316,533 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.
JPMorgan Chase (CHIX:CMCD) has a Sloan Ratio % of 10.88% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on JPMorgan Chase and its competitors.
Is JPMorgan Chase's Sloan Ratio % too high?
JPMorgan Chase's current Sloan Ratio % is 10.88%. Overall, JPMorgan Chase has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does JPMorgan Chase's Sloan Ratio % compare to BAC and WFC?
JPMorgan Chase's Sloan Ratio % of 10.88% can be compared against companies in the Banks 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 Banks company?
A good Sloan Ratio % depends on the Banks 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 JPMorgan Chase and its competitors. JPMorgan Chase's current Sloan Ratio % is 10.88%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JPMorgan Chase stock overvalued right now?
JPMorgan Chase (CHIX:CMCD) has a current Sloan Ratio % of 10.88%. The stock's GF Value™ is €216.07, compared to a current price of €261.00 — trading 20.8% above its estimated fair value. The current Sloan Ratio % is 10.88%. JPMorgan Chase's overall GF Score™ is 78/100 with 10 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 JPMorgan Chase (CHIX:CMCD), the current Sloan Ratio % is 10.88% 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 JPMorgan Chase (CHIX:CMCD) Overvalued in 2026?
Based on GuruFocus' analysis, JPMorgan Chase stock appears to be overvalued.
The current stock price of €261.00 is trading 20.8% above its estimated GF Value™ of €216.07.
Key valuation signals for CHIX:CMCD:
Sloan Ratio %: 10.88%
GF Value™: €216.07 vs. price of €261.00 (20.8% above fair value)
No single metric tells the full story. See the CHIX:CMCD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JPMorgan is a leading global financial services firm with operations in 66 countries and over 318,000 employees as of year-end 2025. Under the JPMorgan brands, the bank holding company boasts a $4.9 trillion balance sheet and $2.68 trillion in deposits, as of March 2026. The firm generates its revenue across three core operating segments: consumer and community banking, the commercial and investment bank, and asset and wealth management. It maintains the top global ranking in investment banking fees with an 8.4% market share, serves millions of consumers through its network of over 5,000 US branches, and manages over $7.1 trillion in client assets within its wealth and asset management franchise.
78GF Score
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