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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 Dec. 2025, CITIC Resources Holdings has a Sloan Ratio of 3.18%, indicating the company is in the safe zone and there is no funny business with accruals.
CITIC Resources Holdings (FRA:CZR) 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 Dec. 2025, CITIC Resources Holdings has a Sloan Ratio of 3.18%, indicating the company is in the safe zone and there is no funny business with accruals.
CITIC Resources Holdings Sloan Ratio % Related Terms
CITIC Resources Holdings 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.
CITIC Resources Holdings Sloan Ratio % Competitor Comparison
For the Oil & Gas Refining & Marketing subindustry, CITIC Resources Holdings'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.
CITIC Resources Holdings Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, CITIC Resources Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where CITIC Resources Holdings's Sloan Ratio % falls into.
CITIC Resources Holdings 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.
CITIC Resources Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
CITIC Resources Holdings's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was 16.754 (Jun. 2025 ) + 2.083 (Dec. 2025 ) = €19 Mil.
CITIC Resources Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was 27.121 (Jun. 2025 ) + 48.027 (Dec. 2025 ) = €75 Mil.
CITIC Resources Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was -101.765 (Jun. 2025 ) + -5.544 (Dec. 2025 ) = €-107 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.
CITIC Resources Holdings (FRA:CZR) has a Sloan Ratio % of 3.18% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on CITIC Resources Holdings and its competitors.
Is CITIC Resources Holdings' Sloan Ratio % too high?
CITIC Resources Holdings' current Sloan Ratio % is 3.18%. Overall, CITIC Resources Holdings has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does CITIC Resources Holdings' Sloan Ratio % compare to competitors?
CITIC Resources Holdings' Sloan Ratio % of 3.18% 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 CITIC Resources Holdings and its competitors. CITIC Resources Holdings's current Sloan Ratio % is 3.18%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CITIC Resources Holdings stock overvalued right now?
CITIC Resources Holdings (FRA:CZR) has a current Sloan Ratio % of 3.18%. The stock's GF Value™ is €0.12, compared to a current price of €0.05 — trading 55.8% below its estimated fair value. The current Sloan Ratio % is 3.18%. CITIC Resources Holdings' overall GF Score™ is 81/100 with 4 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 CITIC Resources Holdings (FRA:CZR), the current Sloan Ratio % is 3.18% as of Dec. 2025. 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 CITIC Resources Holdings (FRA:CZR) Overvalued in 2026?
Based on GuruFocus' analysis, CITIC Resources Holdings stock appears to be undervalued.
The current stock price of €0.05 is trading 55.8% below its estimated GF Value™ of €0.12.
Key valuation signals for FRA:CZR:
Sloan Ratio %: 3.18%
GF Value™: €0.12 vs. price of €0.05 (55.8% below fair value)
No single metric tells the full story. See the FRA:CZR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CITIC Resources Holdings Ltd is a provider of strategic natural resources and key commodities. Its activities are the export of commodity products, including aluminum ingots, coal, iron ore, alumina, and copper; and the import of other commodity products and manufactured goods, including steel, vehicle, and industrial batteries. It has four operating segments; the Aluminum Smelting segment comprises the operation of the PAS which sources alumina and produces aluminum ingots in Australia, the Coal segment comprises the operation of coal mines and the sale of coal in Australia, the Import and Export of Commodities segment derives key revenue, comprises trading of crude oil and oil products around the world, and Crude Oil segment comprises the operation of oilfields and the sale of crude oil.
81GF Score
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