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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, Firm Capital Apartment REIT has a Sloan Ratio of -9.99%, indicating the company is in the safe zone and there is no funny business with accruals.
Firm Capital Apartment REIT (OTCPK:FCAFF) 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, Firm Capital Apartment REIT has a Sloan Ratio of -9.99%, indicating the company is in the safe zone and there is no funny business with accruals.
Firm Capital Apartment REIT Sloan Ratio % Related Terms
Firm Capital Apartment REIT 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 REIT - Residential subindustry, Firm Capital Apartment REIT'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.
Firm Capital Apartment REIT Sloan Ratio % vs REITs Industry
For the REITs industry and Real Estate sector, Firm Capital Apartment REIT's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Firm Capital Apartment REIT's Sloan Ratio % falls into.
Firm Capital Apartment REIT 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.
Firm Capital Apartment REIT's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -0.052 (Jun. 2025 ) + -5.45 (Sep. 2025 ) + -1.498 (Dec. 2025 ) + -0.453 (Mar. 2026 ) = $-7.45 Mil.
Firm Capital Apartment REIT's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -0.088 (Jun. 2025 ) + 0.34 (Sep. 2025 ) + -0.444 (Dec. 2025 ) + -0.998 (Mar. 2026 ) = $-1.19 Mil.
Firm Capital Apartment REIT's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -0.252 (Jun. 2025 ) + -0.696 (Sep. 2025 ) + 2.809 (Dec. 2025 ) + -0.371 (Mar. 2026 ) = $1.49 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.
Firm Capital Apartment REIT (FCAFF) has a Sloan Ratio % of -9.99% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Firm Capital Apartment REIT and its competitors.
Is Firm Capital Apartment REIT's Sloan Ratio % too high?
Firm Capital Apartment REIT's current Sloan Ratio % is -9.99%. Overall, Firm Capital Apartment REIT has a GF Score™ of 65/100, reflecting its overall financial health beyond just this single metric.
How does Firm Capital Apartment REIT's Sloan Ratio % compare to AVB and EQR?
Firm Capital Apartment REIT's Sloan Ratio % of -9.99% can be compared against companies in the REITs 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 REITs company?
A good Sloan Ratio % depends on the REITs 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 Firm Capital Apartment REIT and its competitors. Firm Capital Apartment REIT's current Sloan Ratio % is -9.99%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Firm Capital Apartment REIT stock overvalued right now?
Firm Capital Apartment REIT (FCAFF) has a current Sloan Ratio % of -9.99%. The stock's GF Value™ is $2.37, compared to a current price of $2.75 — trading 16% above its estimated fair value. The current Sloan Ratio % is -9.99%. Firm Capital Apartment REIT's overall GF Score™ is 65/100 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 Firm Capital Apartment REIT (FCAFF), the current Sloan Ratio % is -9.99% 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 Firm Capital Apartment REIT (FCAFF) Overvalued in 2026?
Based on GuruFocus' analysis, Firm Capital Apartment REIT stock appears to be overvalued.
The current stock price of $2.75 is trading 16% above its estimated GF Value™ of $2.37.
Key valuation signals for FCAFF:
Sloan Ratio %: -9.99%
GF Value™: $2.37 vs. price of $2.75 (16% above fair value)
No single metric tells the full story. See the FCAFF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Firm Capital Apartment REIT is a real estate investment trust that pursues multi-residential income-producing real estate and related debt investments on both a wholly owned and joint venture basis. The Trust generates its revenue from the USA.
65GF Score
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Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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