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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.
Donegal Group's Sloan Ratio for the quarter that ended in Jun. 2026 was 3.50%.
As of Jun. 2026, Donegal Group has a Sloan Ratio of 3.50%, indicating the company is in the safe zone and there is no funny business with accruals.
Donegal Group (NAS:DGICA) 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, Donegal Group has a Sloan Ratio of 3.50%, indicating the company is in the safe zone and there is no funny business with accruals.
Donegal Group Sloan Ratio % Related Terms
Donegal Group Sloan Ratio % Historical Data
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The historical data trend for Donegal Group'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.
DGICA vs HIPO, HRTG, ACIC: Sloan Ratio % Comparison
For the Insurance - Property & Casualty subindustry, Donegal Group'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.
Donegal Group Sloan Ratio % vs Insurance Industry
For the Insurance industry and Financial Services sector, Donegal Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Donegal Group'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.
Donegal Group's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Donegal Group's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 20.08 (Sep. 2025 ) + 17.189 (Dec. 2025 ) + 11.511 (Mar. 2026 ) + 22.306 (Jun. 2026 ) = $71.1 Mil.
Donegal Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 22.352 (Sep. 2025 ) + 9.966 (Dec. 2025 ) + 20.173 (Mar. 2026 ) + 5.9 (Jun. 2026 ) = $58.4 Mil.
Donegal Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -37.18 (Sep. 2025 ) + -20.247 (Dec. 2025 ) + -5.414 (Mar. 2026 ) + -11.22 (Jun. 2026 ) = $-74.1 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.
Donegal Group (DGICA) has a Sloan Ratio % of 3.50% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Donegal Group and its competitors.
Is Donegal Group's Sloan Ratio % too high?
Donegal Group's current Sloan Ratio % is 3.50%. Overall, Donegal Group has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Donegal Group's Sloan Ratio % compare to HIPO and HRTG?
Donegal Group's Sloan Ratio % of 3.50% can be compared against companies in the Insurance 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 Insurance company?
A good Sloan Ratio % depends on the Insurance 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 Donegal Group and its competitors. Donegal Group's current Sloan Ratio % is 3.50%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Donegal Group stock overvalued right now?
Based on GuruFocus' analysis, Donegal Group (DGICA) is currently considered Fairly Valued. The stock's GF Value™ is $18.45, compared to a current price of $19.24 — trading 4.3% above its estimated fair value. The current Sloan Ratio % is 3.50%. Donegal Group's overall GF Score™ is 66/100 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 Donegal Group (DGICA), the current Sloan Ratio % is 3.50% 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 Donegal Group (DGICA) Overvalued in 2026?
Based on GuruFocus' analysis, Donegal Group stock appears to be overvalued.
The current stock price of $19.24 is trading 4.3% above its estimated GF Value™ of $18.45.
GuruFocus considers Donegal Group to be Fairly Valued.
Key valuation signals for DGICA:
Sloan Ratio %: 3.50%
GF Value™: $18.45 vs. price of $19.24 (4.3% above fair value)
No single metric tells the full story. See the DGICA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Donegal Group Inc is an insurance holding company whose insurance subsidiaries and affiliates offer property and casualty insurance in 21 Mid-Atlantic, Midwestern, Southern, and Southwestern states. It includes three segments: Investments Function, Commercial Lines of Insurance, and Personal Lines of Insurance. The majority of revenue is from the commercial Lines segment. The commercial Lines segment consists mainly of commercial automobile, commercial multi-peril, and workers' compensation policies.
66GF Score
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