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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.
ACEA SpA's Sloan Ratio for the quarter that ended in Mar. 2026 was -1.04%.
As of Mar. 2026, ACEA SpA has a Sloan Ratio of -1.04%, indicating the company is in the safe zone and there is no funny business with accruals.
ACEA SpA (MIL:ACE) 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, ACEA SpA has a Sloan Ratio of -1.04%, indicating the company is in the safe zone and there is no funny business with accruals.
ACEA SpA Sloan Ratio % Related Terms
ACEA SpA Sloan Ratio % Historical Data
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The historical data trend for ACEA SpA'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.
For the Utilities - Diversified subindustry, ACEA SpA'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.
ACEA SpA Sloan Ratio % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, ACEA SpA's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where ACEA SpA'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.
ACEA SpA's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
ACEA SpA's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 128.611 (Jun. 2025 ) + 188.59 (Sep. 2025 ) + 65.372 (Dec. 2025 ) + 110.716 (Mar. 2026 ) = €493 Mil.
ACEA SpA's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 355.544 (Jun. 2025 ) + 467.115 (Sep. 2025 ) + 815.908 (Dec. 2025 ) + 263.624 (Mar. 2026 ) = €1,902 Mil.
ACEA SpA's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -516.433 (Jun. 2025 ) + -4.989 (Sep. 2025 ) + -395.382 (Dec. 2025 ) + -357.344 (Mar. 2026 ) = €-1,274 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.
ACEA SpA (MIL:ACE) has a Sloan Ratio % of -1.04% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on ACEA SpA and its competitors.
Is ACEA SpA's Sloan Ratio % too high?
ACEA SpA's current Sloan Ratio % is -1.04%. Overall, ACEA SpA has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ACEA SpA's Sloan Ratio % compare to SRE?
ACEA SpA's Sloan Ratio % of -1.04% can be compared against companies in the Utilities - Regulated 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 Utilities - Regulated company?
A good Sloan Ratio % depends on the Utilities - Regulated 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 ACEA SpA and its competitors. ACEA SpA's current Sloan Ratio % is -1.04%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ACEA SpA stock overvalued right now?
Based on GuruFocus' analysis, ACEA SpA (MIL:ACE) is currently considered Significantly Overvalued. The stock's GF Value™ is €15.40, compared to a current price of €21.52 — trading 39.7% above its estimated fair value. The current Sloan Ratio % is -1.04%. ACEA SpA's overall GF Score™ is 69/100 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 ACEA SpA (MIL:ACE), the current Sloan Ratio % is -1.04% 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 ACEA SpA (MIL:ACE) Overvalued in 2026?
Based on GuruFocus' analysis, ACEA SpA stock appears to be overvalued.
The current stock price of €21.52 is trading 39.7% above its estimated GF Value™ of €15.40.
GuruFocus considers ACEA SpA to be Significantly Overvalued.
Key valuation signals for MIL:ACE:
Sloan Ratio %: -1.04%
GF Value™: €15.40 vs. price of €21.52 (39.7% above fair value)
No single metric tells the full story. See the MIL:ACE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ACEA SpA is an Italian-based electricity and water utility company. It operates chiefly in Rome and other cities in Lazio, a central Italian region. With the help of its various subsidiaries and numerous ventures, Acea produces and sells energy, utilities, and environmental products and services. The operating segments of the firm include: Water, Networks and Public Lighting, Environment, Production, Commercial, and Engineering & Infrastructure Projects.
69GF Score
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