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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, Coronation Fund Managers has a Sloan Ratio of 2.10%, indicating the company is in the safe zone and there is no funny business with accruals.
Coronation Fund Managers (JSE:CML) 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, Coronation Fund Managers has a Sloan Ratio of 2.10%, indicating the company is in the safe zone and there is no funny business with accruals.
Coronation Fund Managers Sloan Ratio % Related Terms
Coronation Fund Managers 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.
For the Asset Management subindustry, Coronation Fund Managers'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.
Coronation Fund Managers Sloan Ratio % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Coronation Fund Managers's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Coronation Fund Managers's Sloan Ratio % falls into.
Coronation Fund Managers 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.
Coronation Fund Managers's Sloan Ratio for the fiscal year that ended in Sep. 2025 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Coronation Fund Managers's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 951 (Sep. 2025 ) + 770 (Mar. 2026 ) = R1,721 Mil.
Coronation Fund Managers's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -1132 (Sep. 2025 ) + 627 (Mar. 2026 ) = R-505 Mil.
Coronation Fund Managers's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 129 (Sep. 2025 ) + 35 (Mar. 2026 ) = R164 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.
Coronation Fund Managers (JSE:CML) has a Sloan Ratio % of 2.10% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Coronation Fund Managers and its competitors.
Is Coronation Fund Managers' Sloan Ratio % too high?
Coronation Fund Managers' current Sloan Ratio % is 2.10%. Overall, Coronation Fund Managers has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Coronation Fund Managers' Sloan Ratio % compare to BLK and BX?
Coronation Fund Managers' Sloan Ratio % of 2.10% can be compared against companies in the Asset Management 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 Asset Management company?
A good Sloan Ratio % depends on the Asset Management 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 Coronation Fund Managers and its competitors. Coronation Fund Managers's current Sloan Ratio % is 2.10%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Coronation Fund Managers stock overvalued right now?
Based on GuruFocus' analysis, Coronation Fund Managers (JSE:CML) is currently considered Fairly Valued. The stock's GF Value™ is R41.95, compared to a current price of R43.72 — trading 4.2% above its estimated fair value. The current Sloan Ratio % is 2.10%. Coronation Fund Managers' overall GF Score™ is 72/100 with 5 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 Coronation Fund Managers (JSE:CML), the current Sloan Ratio % is 2.10% 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 Coronation Fund Managers (JSE:CML) Overvalued in 2026?
Based on GuruFocus' analysis, Coronation Fund Managers stock appears to be overvalued.
The current stock price of R43.72 is trading 4.2% above its estimated GF Value™ of R41.95.
GuruFocus considers Coronation Fund Managers to be Fairly Valued.
Key valuation signals for JSE:CML:
Sloan Ratio %: 2.10%
GF Value™: R41.95 vs. price of R43.72 (4.2% above fair value)
No single metric tells the full story. See the JSE:CML stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Coronation Fund Managers Ltd provides asset management services through segregated and pooled investment vehicles. Clients for the asset manager include pension and provident funds, unit trusts, banks, insurers, and other fund managers. Based out of South Africa, Coronation derives the majority of its revenue from a domestic client base. In addition to managing institutional assets, local retail investors are serviced through non-affiliated channels of independent financial advisors and linked investment service providers. Fund offerings range from income to growth, and also include international portfolios.
72GF Score
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