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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 Alkindo Naratama Tbk has a Sloan Ratio of 2.75%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Alkindo Naratama Tbk (ISX:ALDO) 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 Alkindo Naratama Tbk has a Sloan Ratio of 2.75%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Alkindo Naratama Tbk Sloan Ratio % Related Terms
PT Alkindo Naratama 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 Paper & Paper Products subindustry, PT Alkindo Naratama 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 Alkindo Naratama Tbk Sloan Ratio % vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, PT Alkindo Naratama Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Alkindo Naratama Tbk's Sloan Ratio % falls into.
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 Alkindo Naratama Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
PT Alkindo Naratama Tbk's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 14351.556 (Sep. 2025 ) + 13861.303 (Dec. 2025 ) + 13494.341 (Mar. 2026 ) + 48387.982 (Jun. 2026 ) = Rp90,095 Mil.
PT Alkindo Naratama Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 84154.126 (Sep. 2025 ) + -15636.862 (Dec. 2025 ) + -38099.032 (Mar. 2026 ) + 24390.118 (Jun. 2026 ) = Rp54,808 Mil.
PT Alkindo Naratama Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -6140.932 (Sep. 2025 ) + -2148.942 (Dec. 2025 ) + -4608.809 (Mar. 2026 ) + -11684.708 (Jun. 2026 ) = Rp-24,583 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 Alkindo Naratama Tbk (ISX:ALDO) has a Sloan Ratio % of 2.75% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Alkindo Naratama Tbk and its competitors.
Is PT Alkindo Naratama Tbk's Sloan Ratio % too high?
PT Alkindo Naratama Tbk's current Sloan Ratio % is 2.75%. Overall, PT Alkindo Naratama Tbk has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Alkindo Naratama Tbk's Sloan Ratio % compare to SLVM?
PT Alkindo Naratama Tbk's Sloan Ratio % of 2.75% 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 PT Alkindo Naratama Tbk and its competitors. PT Alkindo Naratama Tbk's current Sloan Ratio % is 2.75%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Alkindo Naratama Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Alkindo Naratama Tbk (ISX:ALDO) is currently considered Significantly Overvalued. The stock's GF Value™ is Rp631.91, compared to a current price of Rp930.00 — trading 47.2% above its estimated fair value. The current Sloan Ratio % is 2.75%. PT Alkindo Naratama Tbk's overall GF Score™ is 64/100 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 PT Alkindo Naratama Tbk (ISX:ALDO), the current Sloan Ratio % is 2.75% 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 Alkindo Naratama Tbk (ISX:ALDO) Overvalued in 2026?
Based on GuruFocus' analysis, PT Alkindo Naratama Tbk stock appears to be overvalued.
The current stock price of Rp930.00 is trading 47.2% above its estimated GF Value™ of Rp631.91.
GuruFocus considers PT Alkindo Naratama Tbk to be Significantly Overvalued.
Key valuation signals for ISX:ALDO:
Sloan Ratio %: 2.75%
GF Value™: Rp631.91 vs. price of Rp930.00 (47.2% above fair value)
No single metric tells the full story. See the ISX:ALDO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Alkindo Naratama Tbk is an Indonesian business group engaged in providing solutions in the field of integrated paper production and chemicals. It converts waste paper into various paper packaging products such as papercore, paperbox, paperbag, papercup, paperbowl, hexa wrap, etc. Additionally, it offers industrial paper solutions by recycling used cardboard into jumbo rolls of brown paper into products such as Kraft Liner, Eco Board, and Core Board. In the Chemicals business, the Group offers water-based polymers, textile dyes, and other chemicals under brands and trademarks like Alfachem, Alfabond, Alfacoat, and Archroma. The Group's operating business segments are: Paper, which generates the maximum revenue, and Chemicals and others.
64GF Score
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