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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 Jun. 2026, PT Polychem Indonesia Tbk has a Sloan Ratio of -2.72%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Polychem Indonesia Tbk (FRA:P2I) 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, PT Polychem Indonesia Tbk has a Sloan Ratio of -2.72%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Polychem Indonesia Tbk Sloan Ratio % Related Terms
PT Polychem Indonesia Tbk 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.
For the Chemicals subindustry, PT Polychem Indonesia Tbk'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.
PT Polychem Indonesia Tbk Sloan Ratio % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, PT Polychem Indonesia Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Polychem Indonesia Tbk's Sloan Ratio % falls into.
PT Polychem Indonesia Tbk 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.
PT Polychem Indonesia Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
PT Polychem Indonesia Tbk's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 0.907 (Sep. 2025 ) + -3.589 (Dec. 2025 ) + 1.654 (Mar. 2026 ) + 3.258 (Jun. 2026 ) = €2.2 Mil.
PT Polychem Indonesia Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 2.088 (Sep. 2025 ) + -2.395 (Dec. 2025 ) + 0.975 (Mar. 2026 ) + 6.145 (Jun. 2026 ) = €6.8 Mil.
PT Polychem Indonesia Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -0.047 (Sep. 2025 ) + -0.269 (Dec. 2025 ) + -0.028 (Mar. 2026 ) + 0.023 (Jun. 2026 ) = €-0.3 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.
PT Polychem Indonesia Tbk (FRA:P2I) has a Sloan Ratio % of -2.72% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Polychem Indonesia Tbk and its competitors.
Is PT Polychem Indonesia Tbk's Sloan Ratio % too high?
PT Polychem Indonesia Tbk's current Sloan Ratio % is -2.72%. Overall, PT Polychem Indonesia Tbk has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does PT Polychem Indonesia Tbk's Sloan Ratio % compare to DOW?
PT Polychem Indonesia Tbk's Sloan Ratio % of -2.72% can be compared against companies in the Chemicals 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 Chemicals company?
A good Sloan Ratio % depends on the Chemicals 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 PT Polychem Indonesia Tbk and its competitors. PT Polychem Indonesia Tbk's current Sloan Ratio % is -2.72%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Polychem Indonesia Tbk stock overvalued right now?
PT Polychem Indonesia Tbk (FRA:P2I) has a current Sloan Ratio % of -2.72%. The stock's GF Value™ is €0.01, compared to a current price of €0.01 — trading 20% below its estimated fair value. The current Sloan Ratio % is -2.72%. PT Polychem Indonesia Tbk's overall GF Score™ is 55/100 with 6 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 PT Polychem Indonesia Tbk (FRA:P2I), the current Sloan Ratio % is -2.72% 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 PT Polychem Indonesia Tbk (FRA:P2I) Overvalued in 2026?
Based on GuruFocus' analysis, PT Polychem Indonesia Tbk stock appears to be undervalued.
The current stock price of €0.01 is trading 20% below its estimated GF Value™ of €0.01.
Key valuation signals for FRA:P2I:
Sloan Ratio %: -2.72%
GF Value™: €0.01 vs. price of €0.01 (20% below fair value)
No single metric tells the full story. See the FRA:P2I stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressJalan Jend. Sudirman Kavling 1 RT.010 RW.009, Gedung Wisma 46-Kota BNI 20th Floor, Karet Tengsin Tanah Abang Kota Adm., Jakarta Pusat DKI, Jakarta, IDN, 10220
PT Polychem Indonesia Tbk is an Indonesia-based company that manufactures polyester chips, polyester filaments, engineering plastic, engineering resin, ethylene glycol, polyester staple fiber, and petrochemical. The company is also engaged in knitting, weaving, spinning, and textile manufacturing. The company's sales were made to Indonesia, Asia, and European countries. It has two segments: the Ethylene glycol and petrochemical segment, which derives key revenue, and the Polyester Segment.
55GF Score
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