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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 Apr. 2026, Perma-Pipe International Holdings has a Sloan Ratio of 4.52%, indicating the company is in the safe zone and there is no funny business with accruals.
Perma-Pipe International Holdings (FRA:MF3) 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 Apr. 2026, Perma-Pipe International Holdings has a Sloan Ratio of 4.52%, indicating the company is in the safe zone and there is no funny business with accruals.
Perma-Pipe International Holdings Sloan Ratio % Related Terms
Perma-Pipe International 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.
Perma-Pipe International Holdings Sloan Ratio % Chart
FRA:MF3 vs JLHL, BURCA, AIRJ: Sloan Ratio % Comparison
For the Building Products & Equipment subindustry, Perma-Pipe International 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.
Perma-Pipe International Holdings Sloan Ratio % vs Construction Industry
For the Construction industry and Industrials sector, Perma-Pipe International Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Perma-Pipe International Holdings's Sloan Ratio % falls into.
Perma-Pipe International 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.
Perma-Pipe International Holdings's Net Income for the trailing twelve months (TTM) ended in Apr. 2026 was 0.729 (Jul. 2025 ) + 5.425 (Oct. 2025 ) + 4.184 (Jan. 2026 ) + 1.54 (Apr. 2026 ) = €11.9 Mil.
Perma-Pipe International Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Apr. 2026 was -1.749 (Jul. 2025 ) + 14.844 (Oct. 2025 ) + -5.789 (Jan. 2026 ) + 5.224 (Apr. 2026 ) = €12.5 Mil.
Perma-Pipe International Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Apr. 2026 was -2.186 (Jul. 2025 ) + -4.233 (Oct. 2025 ) + -1.716 (Jan. 2026 ) + -1.072 (Apr. 2026 ) = €-9.2 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.
Perma-Pipe International Holdings (FRA:MF3) has a Sloan Ratio % of 4.52% as of Apr. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Perma-Pipe International Holdings and its competitors.
Is Perma-Pipe International Holdings' Sloan Ratio % too high?
Perma-Pipe International Holdings' current Sloan Ratio % is 4.52%. Overall, Perma-Pipe International Holdings has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Perma-Pipe International Holdings' Sloan Ratio % compare to JLHL and BURCA?
Perma-Pipe International Holdings' Sloan Ratio % of 4.52% can be compared against companies in the Construction 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 Construction company?
A good Sloan Ratio % depends on the Construction 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 Perma-Pipe International Holdings and its competitors. Perma-Pipe International Holdings's current Sloan Ratio % is 4.52%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Perma-Pipe International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Perma-Pipe International Holdings (FRA:MF3) is currently considered Significantly Overvalued. The stock's GF Value™ is €15.03, compared to a current price of €22.80 — trading 51.7% above its estimated fair value. The current Sloan Ratio % is 4.52%. Perma-Pipe International Holdings' overall GF Score™ is 71/100 with 1 warning sign 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 Perma-Pipe International Holdings (FRA:MF3), the current Sloan Ratio % is 4.52% as of Apr. 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 Perma-Pipe International Holdings (FRA:MF3) Overvalued in 2026?
Based on GuruFocus' analysis, Perma-Pipe International Holdings stock appears to be overvalued.
The current stock price of €22.80 is trading 51.7% above its estimated GF Value™ of €15.03.
GuruFocus considers Perma-Pipe International Holdings to be Significantly Overvalued.
Key valuation signals for FRA:MF3:
Sloan Ratio %: 4.52%
GF Value™: €15.03 vs. price of €22.80 (51.7% above fair value)
No single metric tells the full story. See the FRA:MF3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Perma-Pipe International Holdings Inc is engaged in the manufacture and sale of products in Piping Systems. The company engineers, designs, manufactures, and sells specialty piping systems and leak detection systems. Specialty piping systems of the company include insulated and jacketed district heating and cooling piping systems for efficient energy distribution from central energy plants to multiple locations, primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, the coating and insulation of oil and gas gathering and transmission pipelines, and liquid and powder based anti-corrosion coatings applied both to the external and internal surfaces of steel pipe, including shapes such as bends, reducers, tees, and other fittings.
71GF 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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