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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 Panin Sekuritas Tbk has a Sloan Ratio of 4.80%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Panin Sekuritas Tbk (ISX:PANS) 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 Panin Sekuritas Tbk has a Sloan Ratio of 4.80%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Panin Sekuritas Tbk Sloan Ratio % Related Terms
PT Panin Sekuritas 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:PANS vs MS, GS, SCHW: Sloan Ratio % Comparison
For the Capital Markets subindustry, PT Panin Sekuritas 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 Panin Sekuritas Tbk Sloan Ratio % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, PT Panin Sekuritas Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Panin Sekuritas 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 Panin Sekuritas Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
PT Panin Sekuritas Tbk's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 76563.732 (Sep. 2025 ) + 78124.923 (Dec. 2025 ) + 11581.442 (Mar. 2026 ) + 5658.888 (Jun. 2026 ) = Rp171,929 Mil.
PT Panin Sekuritas Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 124404.784 (Sep. 2025 ) + -45557.902 (Dec. 2025 ) + -15915.795 (Mar. 2026 ) + 12926.606 (Jun. 2026 ) = Rp75,858 Mil.
PT Panin Sekuritas Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -197.793 (Sep. 2025 ) + -7405.528 (Dec. 2025 ) + -1516.472 (Mar. 2026 ) + -626.149 (Jun. 2026 ) = Rp-9,746 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 Panin Sekuritas Tbk (ISX:PANS) has a Sloan Ratio % of 4.80% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Panin Sekuritas Tbk and its competitors.
Is PT Panin Sekuritas Tbk's Sloan Ratio % too high?
PT Panin Sekuritas Tbk's current Sloan Ratio % is 4.80%. Overall, PT Panin Sekuritas Tbk has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Panin Sekuritas Tbk's Sloan Ratio % compare to MS and GS?
PT Panin Sekuritas Tbk's Sloan Ratio % of 4.80% can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Sloan Ratio % depends on the Capital Markets 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 Panin Sekuritas Tbk and its competitors. PT Panin Sekuritas Tbk's current Sloan Ratio % is 4.80%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Panin Sekuritas Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Panin Sekuritas Tbk (ISX:PANS) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp1,937.30, compared to a current price of Rp1,565.00 — trading 19.2% below its estimated fair value. The current Sloan Ratio % is 4.80%. PT Panin Sekuritas Tbk's overall GF Score™ is 80/100 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 Panin Sekuritas Tbk (ISX:PANS), the current Sloan Ratio % is 4.80% 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 Panin Sekuritas Tbk (ISX:PANS) Overvalued in 2026?
Based on GuruFocus' analysis, PT Panin Sekuritas Tbk stock appears to be undervalued.
The current stock price of Rp1,565.00 is trading 19.2% below its estimated GF Value™ of Rp1,937.30.
GuruFocus considers PT Panin Sekuritas Tbk to be Modestly Undervalued.
Key valuation signals for ISX:PANS:
Sloan Ratio %: 4.80%
GF Value™: Rp1,937.30 vs. price of Rp1,565.00 (19.2% below fair value)
No single metric tells the full story. See the ISX:PANS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Panin Sekuritas Tbk is engaged in the capital markets business sector. The company is engaged in providing services like broker dealing, corporate finance, asset management, research, online trading, Sharia online trading, education, and others. The operating segments of the company include Brokerage and underwriting and Investment manager and Other business activities. The company generates maximum revenue from the Brokerage and underwriting segment. The product line of the company consists of Panin News, trading ideas, recommendations, company reports, industrial reports, and others.
80GF Score
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