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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 Indofarma Tbk's Sloan Ratio for the quarter that ended in Jun. 2026 was 24.13%.
As of Jun. 2026, PT Indofarma Tbk has a Sloan Ratio of 24.13%, indicating there is a warning stage of accrual build up.
PT Indofarma Tbk (ISX:INAF) 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 Indofarma Tbk has a Sloan Ratio of 24.13%, indicating there is a warning stage of accrual build up.
PT Indofarma Tbk Sloan Ratio % Related Terms
PT Indofarma Tbk Sloan Ratio % Historical Data
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The historical data trend for PT Indofarma 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:INAF vs ZTS, VTRS, NBIX: Sloan Ratio % Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, PT Indofarma 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 Indofarma Tbk Sloan Ratio % vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, PT Indofarma Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Indofarma 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 Indofarma Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
PT Indofarma Tbk's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was -83538.977 (Sep. 2025 ) + 49101.768 (Dec. 2025 ) + -7580.466 (Mar. 2026 ) + -25549.616 (Jun. 2026 ) = Rp-67,567 Mil.
PT Indofarma Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -162165.224 (Sep. 2025 ) + -30631.814 (Dec. 2025 ) + 6231.636 (Mar. 2026 ) + -4318.334 (Jun. 2026 ) = Rp-190,884 Mil.
PT Indofarma Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was 29.676 (Sep. 2025 ) + 20.722 (Dec. 2025 ) + 12.096 (Mar. 2026 ) + 8.939 (Jun. 2026 ) = Rp71 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 Indofarma Tbk (ISX:INAF) has a Sloan Ratio % of 24.13% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Indofarma Tbk and its competitors.
Is PT Indofarma Tbk's Sloan Ratio % too high?
PT Indofarma Tbk's current Sloan Ratio % is 24.13%. Overall, PT Indofarma Tbk has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does PT Indofarma Tbk's Sloan Ratio % compare to ZTS and VTRS?
PT Indofarma Tbk's Sloan Ratio % of 24.13% can be compared against companies in the Drug Manufacturers 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 Drug Manufacturers company?
A good Sloan Ratio % depends on the Drug Manufacturers 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 Indofarma Tbk and its competitors. PT Indofarma Tbk's current Sloan Ratio % is 24.13%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Indofarma Tbk stock overvalued right now?
PT Indofarma Tbk (ISX:INAF) has a current Sloan Ratio % of 24.13%. The stock's GF Value™ is Rp176.99, compared to a current price of Rp126.00 — trading 28.8% below its estimated fair value. The current Sloan Ratio % is 24.13%. PT Indofarma Tbk's overall GF Score™ is 8/100 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 Indofarma Tbk (ISX:INAF), the current Sloan Ratio % is 24.13% 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 Indofarma Tbk (ISX:INAF) Overvalued in 2026?
Based on GuruFocus' analysis, PT Indofarma Tbk stock appears to be undervalued.
The current stock price of Rp126.00 is trading 28.8% below its estimated GF Value™ of Rp176.99.
Key valuation signals for ISX:INAF:
Sloan Ratio %: 24.13%
GF Value™: Rp176.99 vs. price of Rp126.00 (28.8% below fair value)
No single metric tells the full story. See the ISX:INAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Indofarma Tbk is a specialty and generic drug manufacturing company. The company has four business segments - Medicine, Medical Devices and others. The Medicine business segment includes drug production, marketing distribution, and sales. The Medical Device Segment includes medical devices and other products. Company generates majority revenue from the Medicine segment. The Company classifies its distribution segments based on geographic regions into six areas, namely Java, Sumatra, Kalimantan, Sulawesi, Bali dan West Nusa Tenggara (NTB),as well as the Eastern Indonesia region.
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