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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.
PT Adirana Armada Tbk's Sloan Ratio for the quarter that ended in Mar. 2026 was -2.60%.
As of Mar. 2026, PT Adirana Armada Tbk has a Sloan Ratio of -2.60%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Adirana Armada Tbk (ISX:ASSA) 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, PT Adirana Armada Tbk has a Sloan Ratio of -2.60%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Adirana Armada Tbk Sloan Ratio % Related Terms
PT Adirana Armada Tbk Sloan Ratio % Historical Data
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The historical data trend for PT Adirana Armada Tbk's Sloan Ratio % can be seen below:
* 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.
ISX:ASSA vs URI, SUNB, AER: Sloan Ratio % Comparison
For the Rental & Leasing Services subindustry, PT Adirana Armada 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 Adirana Armada Tbk Sloan Ratio % vs Business Services Industry
For the Business Services industry and Industrials sector, PT Adirana Armada Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Adirana Armada 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 Adirana Armada Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
PT Adirana Armada Tbk's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 103494.725 (Jun. 2025 ) + 143352.68 (Sep. 2025 ) + 69149.906 (Dec. 2025 ) + 98475.511 (Mar. 2026 ) = Rp414,473 Mil.
PT Adirana Armada Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 249292.657 (Jun. 2025 ) + 360809.758 (Sep. 2025 ) + 159433.399 (Dec. 2025 ) + 283322.38 (Mar. 2026 ) = Rp1,052,858 Mil.
PT Adirana Armada Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 90556.416 (Jun. 2025 ) + -175410.696 (Sep. 2025 ) + 6832.761 (Dec. 2025 ) + -329739.792 (Mar. 2026 ) = Rp-407,761 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 Adirana Armada Tbk (ISX:ASSA) has a Sloan Ratio % of -2.60% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Adirana Armada Tbk and its competitors.
Is PT Adirana Armada Tbk's Sloan Ratio % too high?
PT Adirana Armada Tbk's current Sloan Ratio % is -2.60%. Overall, PT Adirana Armada Tbk has a GF Score™ of 90/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does PT Adirana Armada Tbk's Sloan Ratio % compare to URI and SUNB?
PT Adirana Armada Tbk's Sloan Ratio % of -2.60% can be compared against companies in the Business Services 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 Business Services company?
A good Sloan Ratio % depends on the Business Services 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 Adirana Armada Tbk and its competitors. PT Adirana Armada Tbk's current Sloan Ratio % is -2.60%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Adirana Armada Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Adirana Armada Tbk (ISX:ASSA) is currently considered Possible Value Trap. The stock's GF Value™ is Rp1,065.40, compared to a current price of Rp610.00 — trading 42.7% below its estimated fair value. The current Sloan Ratio % is -2.60%. PT Adirana Armada Tbk's overall GF Score™ is 90/100 with 3 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 Adirana Armada Tbk (ISX:ASSA), the current Sloan Ratio % is -2.60% 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 PT Adirana Armada Tbk (ISX:ASSA) Overvalued in 2026?
Based on GuruFocus' analysis, PT Adirana Armada Tbk stock appears to be undervalued.
The current stock price of Rp610.00 is trading 42.7% below its estimated GF Value™ of Rp1,065.40.
GuruFocus considers PT Adirana Armada Tbk to be Possible Value Trap.
Key valuation signals for ISX:ASSA:
Sloan Ratio %: -2.60%
GF Value™: Rp1,065.40 vs. price of Rp610.00 (42.7% below fair value)
No single metric tells the full story. See the ISX:ASSA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Adi Sarana Armada Tbk provides integrated transportation solutions in the form of vehicle rental services. The company is engaged in businesses in inland transportation, including passenger transportation by means of buses, sedans, and other land vehicles, transporting goods, delivery, transportation management, expeditions, and warehouses, and provides long and short-term rental services. The company's segment includes Autopool Passenger Car Vehicle Rental Segment, Delivery Service Segment, Used Vehicle Sales segment, Steering Driver Rental Segment, Auction Services Segment, Logistics and Warehouse Management Segment, and Other segment. The majority of its revenue is generated from the Auction Services segment.
90GF Score
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