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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, PT Gunawan Dianjaya Steel Tbk has a Sloan Ratio of 1.83%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Gunawan Dianjaya Steel Tbk (ISX:GDST) 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 Gunawan Dianjaya Steel Tbk has a Sloan Ratio of 1.83%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Gunawan Dianjaya Steel Tbk Sloan Ratio % Related Terms
PT Gunawan Dianjaya Steel 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.
ISX:GDST vs NUE, STLD, RS: Sloan Ratio % Comparison
For the Steel subindustry, PT Gunawan Dianjaya Steel 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 Gunawan Dianjaya Steel Tbk Sloan Ratio % vs Steel Industry
For the Steel industry and Basic Materials sector, PT Gunawan Dianjaya Steel Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Gunawan Dianjaya Steel Tbk's Sloan Ratio % falls into.
PT Gunawan Dianjaya Steel 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 Gunawan Dianjaya Steel Tbk's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 3931.733 (Jun. 2025 ) + 22000.371 (Sep. 2025 ) + 8275.467 (Dec. 2025 ) + 13302.753 (Mar. 2026 ) = Rp47,510 Mil.
PT Gunawan Dianjaya Steel Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -44461.59 (Jun. 2025 ) + 103051.454 (Sep. 2025 ) + -292891.727 (Dec. 2025 ) + 114338.209 (Mar. 2026 ) = Rp-119,964 Mil.
PT Gunawan Dianjaya Steel Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 14078.899 (Jun. 2025 ) + -122792.394 (Sep. 2025 ) + 256488.842 (Dec. 2025 ) + -42639.643 (Mar. 2026 ) = Rp105,136 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 Gunawan Dianjaya Steel Tbk (ISX:GDST) has a Sloan Ratio % of 1.83% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Gunawan Dianjaya Steel Tbk and its competitors.
Is PT Gunawan Dianjaya Steel Tbk's Sloan Ratio % too high?
PT Gunawan Dianjaya Steel Tbk's current Sloan Ratio % is 1.83%. Overall, PT Gunawan Dianjaya Steel Tbk has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does PT Gunawan Dianjaya Steel Tbk's Sloan Ratio % compare to NUE and STLD?
PT Gunawan Dianjaya Steel Tbk's Sloan Ratio % of 1.83% can be compared against companies in the Steel 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 Steel company?
A good Sloan Ratio % depends on the Steel 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 Gunawan Dianjaya Steel Tbk and its competitors. PT Gunawan Dianjaya Steel Tbk's current Sloan Ratio % is 1.83%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Gunawan Dianjaya Steel Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Gunawan Dianjaya Steel Tbk (ISX:GDST) is currently considered Fairly Valued. The stock's GF Value™ is Rp89.50, compared to a current price of Rp93.00 — trading 3.9% above its estimated fair value. The current Sloan Ratio % is 1.83%. PT Gunawan Dianjaya Steel Tbk's overall GF Score™ is 67/100 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 PT Gunawan Dianjaya Steel Tbk (ISX:GDST), the current Sloan Ratio % is 1.83% 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 Gunawan Dianjaya Steel Tbk (ISX:GDST) Overvalued in 2026?
Based on GuruFocus' analysis, PT Gunawan Dianjaya Steel Tbk stock appears to be overvalued.
The current stock price of Rp93.00 is trading 3.9% above its estimated GF Value™ of Rp89.50.
GuruFocus considers PT Gunawan Dianjaya Steel Tbk to be Fairly Valued.
Key valuation signals for ISX:GDST:
Sloan Ratio %: 1.83%
GF Value™: Rp89.50 vs. price of Rp93.00 (3.9% above fair value)
No single metric tells the full story. See the ISX:GDST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Gunawan Dianjaya Steel Tbk Business Description
PT Gunawan Dianjaya Steel Tbk is an Indonesian steel plate manufacturing (re-rolling) company. It is engaged in the manufacture of Hot Rolled Steel Plate. Its products include Low carbon Structural Steel Plates, High Strength Low Alloy Structural Steel Plates, Steel plates for boilers and pressure vessels, Steel plates for ship building including Hull Structural Steel Plates (Mild Steels), and High Strength Hull Structural Steel Plates (High Tensile Steels). It operates in single segment of manufacturing of hot rolled steel in Indonesia.
67GF Score
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