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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, Lee & Man Paper Manufacturing has a Sloan Ratio of 0.35%, indicating the company is in the safe zone and there is no funny business with accruals.
Lee & Man Paper Manufacturing (FRA:LMP) 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, Lee & Man Paper Manufacturing has a Sloan Ratio of 0.35%, indicating the company is in the safe zone and there is no funny business with accruals.
Lee & Man Paper Manufacturing Sloan Ratio % Related Terms
Lee & Man Paper Manufacturing 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.
Lee & Man Paper Manufacturing Sloan Ratio % Competitor Comparison
For the Paper & Paper Products subindustry, Lee & Man Paper Manufacturing'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.
Lee & Man Paper Manufacturing Sloan Ratio % vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Lee & Man Paper Manufacturing's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Lee & Man Paper Manufacturing's Sloan Ratio % falls into.
Lee & Man Paper Manufacturing 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.
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Lee & Man Paper Manufacturing's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was 89.598 (Jun. 2025 ) + 124.049 (Dec. 2025 ) = €214 Mil.
Lee & Man Paper Manufacturing's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was 136.711 (Jun. 2025 ) + 250.48 (Dec. 2025 ) = €387 Mil.
Lee & Man Paper Manufacturing's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was -100.788 (Jun. 2025 ) + -94.669 (Dec. 2025 ) = €-195 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.
Lee & Man Paper Manufacturing (FRA:LMP) has a Sloan Ratio % of 0.35% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Lee & Man Paper Manufacturing and its competitors.
Is Lee & Man Paper Manufacturing's Sloan Ratio % too high?
Lee & Man Paper Manufacturing's current Sloan Ratio % is 0.35%. Overall, Lee & Man Paper Manufacturing has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Lee & Man Paper Manufacturing's Sloan Ratio % compare to competitors?
Lee & Man Paper Manufacturing's Sloan Ratio % of 0.35% can be compared against companies in the Forest Products 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 Forest Products company?
A good Sloan Ratio % depends on the Forest Products 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 Lee & Man Paper Manufacturing and its competitors. Lee & Man Paper Manufacturing's current Sloan Ratio % is 0.35%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lee & Man Paper Manufacturing stock overvalued right now?
Lee & Man Paper Manufacturing (FRA:LMP) has a current Sloan Ratio % of 0.35%. The stock's GF Value™ is €0.28, compared to a current price of €0.44 — trading 56.4% above its estimated fair value. The current Sloan Ratio % is 0.35%. Lee & Man Paper Manufacturing's overall GF Score™ is 82/100 with 9 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 Lee & Man Paper Manufacturing (FRA:LMP), the current Sloan Ratio % is 0.35% 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 Lee & Man Paper Manufacturing (FRA:LMP) Overvalued in 2026?
Based on GuruFocus' analysis, Lee & Man Paper Manufacturing stock appears to be overvalued.
The current stock price of €0.44 is trading 56.4% above its estimated GF Value™ of €0.28.
Key valuation signals for FRA:LMP:
Sloan Ratio %: 0.35%
GF Value™: €0.28 vs. price of €0.44 (56.4% above fair value)
No single metric tells the full story. See the FRA:LMP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lee & Man Paper Manufacturing Business Description
Lee & Man Paper Manufacturing Ltd is an investment holding company engaged in the manufacturing and trading of paper and pulp. Its segments are Packaging Paper, Pulp, and Tissue paper. The majority of the revenue is generated from the packaging paper segment that covers the production of kraft liner board, test liner board, coated duplex board, white top liner board, and strength corrugating medium. Its products include Wood pulp products, Boxboard paper products, Pink Gray Card Products, and Toilet Paper Products. The company generates maximum revenue from PRC, and also has its presence in Malaysia; Vietnam; and Hong Kong, Macau and others.
82GF Score
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