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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, Keisei Electric Railway Co has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Keisei Electric Railway Co (OTCPK:KELRF) 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, Keisei Electric Railway Co has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Keisei Electric Railway Co Sloan Ratio % Related Terms
Keisei Electric Railway Co 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 Railroads subindustry, Keisei Electric Railway Co'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.
Keisei Electric Railway Co Sloan Ratio % vs Transportation Industry
For the Transportation industry and Industrials sector, Keisei Electric Railway Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Keisei Electric Railway Co's Sloan Ratio % falls into.
Keisei Electric Railway Co 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.
Keisei Electric Railway Co's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 87.996 (Jun. 2025 ) + 74.454 (Sep. 2025 ) + 119.591 (Dec. 2025 ) + 35.631 (Mar. 2026 ) = $318 Mil.
Keisei Electric Railway Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 0 (Jun. 2025 ) + 0 (Sep. 2025 ) + 0 (Dec. 2025 ) + 0 (Mar. 2026 ) = $0 Mil.
Keisei Electric Railway Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 0 (Jun. 2025 ) + 0 (Sep. 2025 ) + 0 (Dec. 2025 ) + 0 (Mar. 2026 ) = $0 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.
Keisei Electric Railway Co (KELRF) has a Sloan Ratio % of 0.00% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Keisei Electric Railway Co and its competitors.
Is Keisei Electric Railway Co's Sloan Ratio % too high?
Keisei Electric Railway Co's current Sloan Ratio % is 0.00%. Overall, Keisei Electric Railway Co has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Keisei Electric Railway Co's Sloan Ratio % compare to UNP and CSX?
Keisei Electric Railway Co's Sloan Ratio % of 0.00% can be compared against companies in the Transportation 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 Transportation company?
A good Sloan Ratio % depends on the Transportation 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 Keisei Electric Railway Co and its competitors. Keisei Electric Railway Co's current Sloan Ratio % is 0.00%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keisei Electric Railway Co stock overvalued right now?
Based on GuruFocus' analysis, Keisei Electric Railway Co (KELRF) is currently considered Modestly Undervalued. The stock's GF Value™ is $8.62, compared to a current price of $6.27 — trading 27.3% below its estimated fair value. The current Sloan Ratio % is 0.00%. Keisei Electric Railway Co's overall GF Score™ is 73/100 with 4 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 Keisei Electric Railway Co (KELRF), the current Sloan Ratio % is 0.00% 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 Keisei Electric Railway Co (KELRF) Overvalued in 2026?
Based on GuruFocus' analysis, Keisei Electric Railway Co stock appears to be undervalued.
The current stock price of $6.27 is trading 27.3% below its estimated GF Value™ of $8.62.
GuruFocus considers Keisei Electric Railway Co to be Modestly Undervalued.
Key valuation signals for KELRF:
Sloan Ratio %: 0.00%
GF Value™: $8.62 vs. price of $6.27 (27.3% below fair value)
No single metric tells the full story. See the KELRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Keisei Electric Railway Co Ltd is a Japanese company that operates railways in Japan. The company's three segments are transportation, distribution, and real estate management. The transportation segment offers passenger transportation services by rail, bus, and taxi, and it contributes the majority of revenue. The distribution segment is engaged in operating department stores, shopping centers, and other retail stores. The company derives revenue from real estate activities such as leasing and selling its properties. It also generates additional revenue from activities ranging from real estate construction, operation of restaurants, hotels, and leisure sites to car maintenance services.
73GF Score
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