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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 Elnusa Tbk's Sloan Ratio for the quarter that ended in Jun. 2026 was -3.28%.
As of Jun. 2026, PT Elnusa Tbk has a Sloan Ratio of -3.28%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Elnusa Tbk (ISX:ELSA) 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 Elnusa Tbk has a Sloan Ratio of -3.28%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Elnusa Tbk Sloan Ratio % Related Terms
PT Elnusa Tbk Sloan Ratio % Historical Data
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The historical data trend for PT Elnusa 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:ELSA vs SLB, BKR, FTI: Sloan Ratio % Comparison
For the Oil & Gas Equipment & Services subindustry, PT Elnusa 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 Elnusa Tbk Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, PT Elnusa Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Elnusa 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 Elnusa Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
PT Elnusa Tbk's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 190078 (Sep. 2025 ) + 191846 (Dec. 2025 ) + 189555 (Mar. 2026 ) + 245151 (Jun. 2026 ) = Rp816,630 Mil.
PT Elnusa Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -65420 (Sep. 2025 ) + 1100482 (Dec. 2025 ) + 1042315 (Mar. 2026 ) + -281334 (Jun. 2026 ) = Rp1,796,043 Mil.
PT Elnusa Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -76444 (Sep. 2025 ) + -163339 (Dec. 2025 ) + -245941 (Mar. 2026 ) + -119938 (Jun. 2026 ) = Rp-605,662 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 Elnusa Tbk (ISX:ELSA) has a Sloan Ratio % of -3.28% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Elnusa Tbk and its competitors.
Is PT Elnusa Tbk's Sloan Ratio % too high?
PT Elnusa Tbk's current Sloan Ratio % is -3.28%. Overall, PT Elnusa Tbk has a GF Score™ of 92/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Elnusa Tbk's Sloan Ratio % compare to SLB and BKR?
PT Elnusa Tbk's Sloan Ratio % of -3.28% 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 PT Elnusa Tbk and its competitors. PT Elnusa Tbk's current Sloan Ratio % is -3.28%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Elnusa Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Elnusa Tbk (ISX:ELSA) is currently considered Modestly Overvalued. The stock's GF Value™ is Rp540.25, compared to a current price of Rp690.00 — trading 27.7% above its estimated fair value. The current Sloan Ratio % is -3.28%. PT Elnusa Tbk's overall GF Score™ is 92/100 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 PT Elnusa Tbk (ISX:ELSA), the current Sloan Ratio % is -3.28% 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 Elnusa Tbk (ISX:ELSA) Overvalued in 2026?
Based on GuruFocus' analysis, PT Elnusa Tbk stock appears to be overvalued.
The current stock price of Rp690.00 is trading 27.7% above its estimated GF Value™ of Rp540.25.
GuruFocus considers PT Elnusa Tbk to be Modestly Overvalued.
Key valuation signals for ISX:ELSA:
Sloan Ratio %: -3.28%
GF Value™: Rp540.25 vs. price of Rp690.00 (27.7% above fair value)
No single metric tells the full story. See the ISX:ELSA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Elnusa Tbk is engaged in upstream oil and gas services and investing in shares of stock of subsidiaries and joint ventures that are engaged in various businesses in oil and gas support services and energy distribution and logistics services. The company also provides goods and services including providing and managing office space for its subsidiaries, related parties and third parties. Its business segments are: Integrated upstream oil and gas services, Oil and gas support services, and Sales of goods and energy distribution and logistics services. The majority of the company's revenue is derived from the Sales of goods and energy distribution and logistics services segment, which provides storage services, trading, distribution and marketing of oil and gas products in Indonesia.
92GF Score
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