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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 Mar. 2026, PTT Exploration & Production PCL has a Sloan Ratio of 5.67%, indicating the company is in the safe zone and there is no funny business with accruals.
PTT Exploration & Production PCL (FRA:NVAL) 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 Mar. 2026, PTT Exploration & Production PCL has a Sloan Ratio of 5.67%, indicating the company is in the safe zone and there is no funny business with accruals.
PTT Exploration & Production PCL Sloan Ratio % Related Terms
PTT Exploration & Production PCL 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.
PTT Exploration & Production PCL Sloan Ratio % Chart
FRA:NVAL vs COP, EOG, FANG: Sloan Ratio % Comparison
For the Oil & Gas E&P subindustry, PTT Exploration & Production PCL'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.
PTT Exploration & Production PCL Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, PTT Exploration & Production PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PTT Exploration & Production PCL's Sloan Ratio % falls into.
PTT Exploration & Production PCL 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.
PTT Exploration & Production PCL's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 359.622 (Jun. 2025 ) + 338.384 (Sep. 2025 ) + 473.367 (Dec. 2025 ) + 317.317 (Mar. 2026 ) = €1,489 Mil.
PTT Exploration & Production PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 777.61 (Jun. 2025 ) + 1122.567 (Sep. 2025 ) + 1119.413 (Dec. 2025 ) + 1208.502 (Mar. 2026 ) = €4,228 Mil.
PTT Exploration & Production PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -707.829 (Jun. 2025 ) + -1376.058 (Sep. 2025 ) + -1198.227 (Dec. 2025 ) + -960.384 (Mar. 2026 ) = €-4,242 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.
PTT Exploration & Production PCL (FRA:NVAL) has a Sloan Ratio % of 5.67% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PTT Exploration & Production PCL and its competitors.
Is PTT Exploration & Production PCL's Sloan Ratio % too high?
PTT Exploration & Production PCL's current Sloan Ratio % is 5.67%. Overall, PTT Exploration & Production PCL has a GF Score™ of 87/100, reflecting its overall financial health beyond just this single metric.
How does PTT Exploration & Production PCL's Sloan Ratio % compare to COP and EOG?
PTT Exploration & Production PCL's Sloan Ratio % of 5.67% 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 PTT Exploration & Production PCL and its competitors. PTT Exploration & Production PCL's current Sloan Ratio % is 5.67%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PTT Exploration & Production PCL stock overvalued right now?
PTT Exploration & Production PCL (FRA:NVAL) has a current Sloan Ratio % of 5.67%. The stock's GF Value™ is €3.44, compared to a current price of €3.86 — trading 12.2% above its estimated fair value. The current Sloan Ratio % is 5.67%. PTT Exploration & Production PCL's overall GF Score™ is 87/100 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 PTT Exploration & Production PCL (FRA:NVAL), the current Sloan Ratio % is 5.67% as of Mar. 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 PTT Exploration & Production PCL (FRA:NVAL) Overvalued in 2026?
Based on GuruFocus' analysis, PTT Exploration & Production PCL stock appears to be overvalued.
The current stock price of €3.86 is trading 12.2% above its estimated GF Value™ of €3.44.
Key valuation signals for FRA:NVAL:
Sloan Ratio %: 5.67%
GF Value™: €3.44 vs. price of €3.86 (12.2% above fair value)
No single metric tells the full story. See the FRA:NVAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PTT Exploration & Production PCL Business Description
PTT Exploration & Production PCL is engaged in the exploration and production of petroleum in Thailand and overseas, and related businesses. Its segments include Exploration and production, which operates in oil and gas exploration and production both domestically and overseas, including overseas gas transportation pipeline, either as an operator or as a joint venture partner with international oil and gas companies. Its domestic projects are located in the Gulf of Thailand. Overseas projects are located in Southeast Asia, the Middle East, Africa, and other regions. Other businesses and corporate consist of investments in other businesses, such as new businesses for energy transition, related businesses, and corporate.
87GF Score
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