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.
Fuller Smith & Turner's Sloan Ratio for the quarter that ended in Mar. 2026 was -3.09%.
As of Mar. 2026, Fuller Smith & Turner has a Sloan Ratio of -3.09%, indicating the company is in the safe zone and there is no funny business with accruals.
Fuller Smith & Turner (LSE:FSTA) 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, Fuller Smith & Turner has a Sloan Ratio of -3.09%, indicating the company is in the safe zone and there is no funny business with accruals.
Fuller Smith & Turner Sloan Ratio % Related Terms
Fuller Smith & Turner Sloan Ratio % Historical Data
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The historical data trend for Fuller Smith & Turner'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.
LSE:FSTA vs MCD, SBUX, YUM: Sloan Ratio % Comparison
For the Restaurants subindustry, Fuller Smith & Turner'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.
Fuller Smith & Turner Sloan Ratio % vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Fuller Smith & Turner's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Fuller Smith & Turner'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.
Fuller Smith & Turner's Sloan Ratio for the fiscal year that ended in Mar. 2026 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Fuller Smith & Turner's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 15.2 (Sep. 2025 ) + 6 (Mar. 2026 ) = £21.2 Mil.
Fuller Smith & Turner's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 37.9 (Sep. 2025 ) + 41.6 (Mar. 2026 ) = £79.5 Mil.
Fuller Smith & Turner's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -12.1 (Sep. 2025 ) + -24.5 (Mar. 2026 ) = £-36.6 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.
Fuller Smith & Turner (LSE:FSTA) has a Sloan Ratio % of -3.09% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Fuller Smith & Turner and its competitors.
Is Fuller Smith & Turner's Sloan Ratio % too high?
Fuller Smith & Turner's current Sloan Ratio % is -3.09%. Overall, Fuller Smith & Turner has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Fuller Smith & Turner's Sloan Ratio % compare to MCD and SBUX?
Fuller Smith & Turner's Sloan Ratio % of -3.09% can be compared against companies in the Restaurants 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 Restaurants company?
A good Sloan Ratio % depends on the Restaurants 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 Fuller Smith & Turner and its competitors. Fuller Smith & Turner's current Sloan Ratio % is -3.09%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fuller Smith & Turner stock overvalued right now?
Based on GuruFocus' analysis, Fuller Smith & Turner (LSE:FSTA) is currently considered Fairly Valued. The stock's GF Value™ is £7.49, compared to a current price of £7.10 — trading 5.2% below its estimated fair value. The current Sloan Ratio % is -3.09%. Fuller Smith & Turner's overall GF Score™ is 80/100 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 Fuller Smith & Turner (LSE:FSTA), the current Sloan Ratio % is -3.09% 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 Fuller Smith & Turner (LSE:FSTA) Overvalued in 2026?
Based on GuruFocus' analysis, Fuller Smith & Turner stock appears to be undervalued.
The current stock price of £7.10 is trading 5.2% below its estimated GF Value™ of £7.49.
GuruFocus considers Fuller Smith & Turner to be Fairly Valued.
Key valuation signals for LSE:FSTA:
Sloan Ratio %: -3.09%
GF Value™: £7.49 vs. price of £7.10 (5.2% below fair value)
No single metric tells the full story. See the LSE:FSTA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fuller Smith & Turner PLC is a family-owned operator of pubs and hotels in the United Kingdom. The company functions through two segments: Managed Pubs and Hotels and Tenanted Inns. Managed Pubs and Hotels, which comprises managed pubs, managed hotels, Bel & The Dragon, and Cotswold Inns & Hotels. Tenanted Inns, comprises pubs operated by third parties under tenancy or lease agreements. Managed Pubs and Hotels segment generates majority of the revenue for the company. All of the Group's business is within the UK.
80GF Score
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