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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.
PHX Energy Services's Sloan Ratio for the quarter that ended in Jun. 2026 was 2.55%.
As of Jun. 2026, PHX Energy Services has a Sloan Ratio of 2.55%, indicating the company is in the safe zone and there is no funny business with accruals.
PHX Energy Services (FRA:7PX) 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, PHX Energy Services has a Sloan Ratio of 2.55%, indicating the company is in the safe zone and there is no funny business with accruals.
PHX Energy Services Sloan Ratio % Related Terms
PHX Energy Services Sloan Ratio % Historical Data
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The historical data trend for PHX Energy Services'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 Oil & Gas Drilling subindustry, PHX Energy Services'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.
PHX Energy Services Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, PHX Energy Services's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PHX Energy Services'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.
PHX Energy Services's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
PHX Energy Services's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 5.211 (Sep. 2025 ) + 10.875 (Dec. 2025 ) + 5.634 (Mar. 2026 ) + 6.782 (Jun. 2026 ) = €28.5 Mil.
PHX Energy Services's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 12.358 (Sep. 2025 ) + 19.613 (Dec. 2025 ) + -0.335 (Mar. 2026 ) + 8.358 (Jun. 2026 ) = €40.0 Mil.
PHX Energy Services's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -7.424 (Sep. 2025 ) + 3.909 (Dec. 2025 ) + -11.538 (Mar. 2026 ) + -3.935 (Jun. 2026 ) = €-19.0 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.
PHX Energy Services (FRA:7PX) has a Sloan Ratio % of 2.55% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PHX Energy Services and its competitors.
Is PHX Energy Services' Sloan Ratio % too high?
PHX Energy Services' current Sloan Ratio % is 2.55%. Overall, PHX Energy Services has a GF Score™ of 66/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PHX Energy Services' Sloan Ratio % compare to NE and RIG?
PHX Energy Services' Sloan Ratio % of 2.55% can be compared against companies in the Oil & Gas 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 Oil & Gas company?
A good Sloan Ratio % depends on the Oil & Gas 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 PHX Energy Services and its competitors. PHX Energy Services's current Sloan Ratio % is 2.55%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PHX Energy Services stock overvalued right now?
Based on GuruFocus' analysis, PHX Energy Services (FRA:7PX) is currently considered Modestly Overvalued. The stock's GF Value™ is €5.88, compared to a current price of €7.60 — trading 29.3% above its estimated fair value. The current Sloan Ratio % is 2.55%. PHX Energy Services' overall GF Score™ is 66/100 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 PHX Energy Services (FRA:7PX), the current Sloan Ratio % is 2.55% 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 PHX Energy Services (FRA:7PX) Overvalued in 2026?
Based on GuruFocus' analysis, PHX Energy Services stock appears to be overvalued.
The current stock price of €7.60 is trading 29.3% above its estimated GF Value™ of €5.88.
GuruFocus considers PHX Energy Services to be Modestly Overvalued.
Key valuation signals for FRA:7PX:
Sloan Ratio %: 2.55%
GF Value™: €5.88 vs. price of €7.60 (29.3% above fair value)
No single metric tells the full story. See the FRA:7PX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PHX Energy Services Corp is an oil and natural gas service company. The firm, through its directional drilling subsidiary entities, provides horizontal and directional drilling services to oil and natural gas exploration and development companies principally in Canada, the United States, and the Middle East regions. The company generates its revenue from Directional drilling services, Motor rental, and Sale of motor equipment and parts. The company derives maximum revenue from Directional drilling services. Geographically, the company generates the majority of its revenue from the United States followed by Canada and others.
66GF Score
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