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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.
Fortum Oyj's Sloan Ratio for the quarter that ended in Jun. 2026 was 3.83%.
As of Jun. 2026, Fortum Oyj has a Sloan Ratio of 3.83%, indicating the company is in the safe zone and there is no funny business with accruals.
Fortum Oyj (OTCPK:FOJCF) 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, Fortum Oyj has a Sloan Ratio of 3.83%, indicating the company is in the safe zone and there is no funny business with accruals.
Fortum Oyj Sloan Ratio % Related Terms
Fortum Oyj Sloan Ratio % Historical Data
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The historical data trend for Fortum Oyj'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.
For the Utilities - Renewable subindustry, Fortum Oyj'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.
Fortum Oyj Sloan Ratio % vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Fortum Oyj's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Fortum Oyj'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.
Fortum Oyj's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Fortum Oyj's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 61.033 (Sep. 2025 ) + 288.056 (Dec. 2025 ) + 486.705 (Mar. 2026 ) + 125.576 (Jun. 2026 ) = $961 Mil.
Fortum Oyj's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 153.756 (Sep. 2025 ) + 62.061 (Dec. 2025 ) + 410.405 (Mar. 2026 ) + 373.272 (Jun. 2026 ) = $999 Mil.
Fortum Oyj's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -156.103 (Sep. 2025 ) + -298.595 (Dec. 2025 ) + -143.353 (Mar. 2026 ) + -105.991 (Jun. 2026 ) = $-704 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.
Fortum Oyj (FOJCF) has a Sloan Ratio % of 3.83% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Fortum Oyj and its competitors.
Is Fortum Oyj's Sloan Ratio % too high?
Fortum Oyj's current Sloan Ratio % is 3.83%. Overall, Fortum Oyj has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fortum Oyj's Sloan Ratio % compare to competitors?
Fortum Oyj's Sloan Ratio % of 3.83% 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 Fortum Oyj and its competitors. Fortum Oyj's current Sloan Ratio % is 3.83%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fortum Oyj stock overvalued right now?
Based on GuruFocus' analysis, Fortum Oyj (FOJCF) is currently considered Significantly Overvalued. The stock's GF Value™ is $14.18, compared to a current price of $22.47 — trading 58.4% above its estimated fair value. The current Sloan Ratio % is 3.83%. Fortum Oyj's overall GF Score™ is 69/100 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 Fortum Oyj (FOJCF), the current Sloan Ratio % is 3.83% 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 Fortum Oyj (FOJCF) Overvalued in 2026?
Based on GuruFocus' analysis, Fortum Oyj stock appears to be overvalued.
The current stock price of $22.47 is trading 58.4% above its estimated GF Value™ of $14.18.
GuruFocus considers Fortum Oyj to be Significantly Overvalued.
Key valuation signals for FOJCF:
Sloan Ratio %: 3.83%
GF Value™: $14.18 vs. price of $22.47 (58.4% above fair value)
No single metric tells the full story. See the FOJCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fortum Oyj is a Finnish energy company that operates power plants that use renewable energy sources (hydro, nuclear, and solar power) to sell electricity, heat, cooling, and power products and services. The company mainly operates in Nordic and Baltic countries, Russia, Poland, and India. Its main divisions of the company are generation (large-scale power production), city solutions (sustainable energy solutions), Russia (all Russian operations), technology and new ventures (research and development and in-house incubator for startups), mergers and acquisitions, and solar and wind development. The company's operating segments are Generation, Consumer Solutions, and Other Operations.
69GF Score
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