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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, Clover Health Investments has a Sloan Ratio of -14.94%, indicating there is a warning stage of accrual build up.
Clover Health Investments (NAS:CLOV) 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, Clover Health Investments has a Sloan Ratio of -14.94%, indicating there is a warning stage of accrual build up.
Clover Health Investments Sloan Ratio % Related Terms
Clover Health Investments 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.
CLOV vs PGNY, ALHC, PFHO: Sloan Ratio % Comparison
For the Healthcare Plans subindustry, Clover Health Investments'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.
Clover Health Investments Sloan Ratio % vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, Clover Health Investments's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Clover Health Investments's Sloan Ratio % falls into.
Clover Health Investments 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.
Clover Health Investments's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Clover Health Investments's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -10.578 (Jun. 2025 ) + -24.377 (Sep. 2025 ) + -49.32 (Dec. 2025 ) + 27.334 (Mar. 2026 ) = $-57 Mil.
Clover Health Investments's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 5.408 (Jun. 2025 ) + 12.103 (Sep. 2025 ) + -68.152 (Dec. 2025 ) + 107.895 (Mar. 2026 ) = $57 Mil.
Clover Health Investments's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 35.566 (Jun. 2025 ) + -5.425 (Sep. 2025 ) + -34.995 (Dec. 2025 ) + -5.068 (Mar. 2026 ) = $-10 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.
Clover Health Investments (CLOV) has a Sloan Ratio % of -14.94% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Clover Health Investments and its competitors.
Is Clover Health Investments' Sloan Ratio % too high?
Clover Health Investments' current Sloan Ratio % is -14.94%. Overall, Clover Health Investments has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Clover Health Investments' Sloan Ratio % compare to PGNY and ALHC?
Clover Health Investments' Sloan Ratio % of -14.94% can be compared against companies in the Healthcare Plans 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 Healthcare Plans company?
A good Sloan Ratio % depends on the Healthcare Plans 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 Clover Health Investments and its competitors. Clover Health Investments's current Sloan Ratio % is -14.94%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Clover Health Investments stock overvalued right now?
Based on GuruFocus' analysis, Clover Health Investments (CLOV) is currently considered Modestly Overvalued. The stock's GF Value™ is $4.06, compared to a current price of $4.55 — trading 12.1% above its estimated fair value. The current Sloan Ratio % is -14.94%. Clover Health Investments' overall GF Score™ is 83/100 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 Clover Health Investments (CLOV), the current Sloan Ratio % is -14.94% 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 Clover Health Investments (CLOV) Overvalued in 2026?
Based on GuruFocus' analysis, Clover Health Investments stock appears to be overvalued.
The current stock price of $4.55 is trading 12.1% above its estimated GF Value™ of $4.06.
GuruFocus considers Clover Health Investments to be Modestly Overvalued.
Key valuation signals for CLOV:
Sloan Ratio %: -14.94%
GF Value™: $4.06 vs. price of $4.55 (12.1% above fair value)
No single metric tells the full story. See the CLOV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Clover Health Investments Corp is a healthcare technology company. It focuses on empowering Medicare physicians to proactively manage chronic diseases through its proprietary software platform, Clover Assistant. This cloud-based solution provides personalized insights to physicians, enabling early detection and management of chronic conditions. It operates in one segment: Insurance, through which it offers PPO and HMO plans to Medicare Advantage members in several states.
83GF Score
Get the complete analysis for CLOV
Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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