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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 Sep. 2025, Metalpha Technology Holding has a Sloan Ratio of 0.37%, indicating the company is in the safe zone and there is no funny business with accruals.
Metalpha Technology Holding (NAS:MATH) 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 Sep. 2025, Metalpha Technology Holding has a Sloan Ratio of 0.37%, indicating the company is in the safe zone and there is no funny business with accruals.
Metalpha Technology Holding Sloan Ratio % Related Terms
Metalpha Technology Holding 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.
MATH vs HGBL, GSIW, PLUT: Sloan Ratio % Comparison
For the Capital Markets subindustry, Metalpha Technology Holding'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.
Metalpha Technology Holding Sloan Ratio % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Metalpha Technology Holding's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Metalpha Technology Holding's Sloan Ratio % falls into.
Metalpha Technology Holding 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.
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Metalpha Technology Holding's Net Income for the trailing twelve months (TTM) ended in Sep. 2025 was 9.85 (Mar. 2025 ) + -2.885 (Sep. 2025 ) = $6.97 Mil.
Metalpha Technology Holding's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2025 was 16.169 (Mar. 2025 ) + 3.283 (Sep. 2025 ) = $19.45 Mil.
Metalpha Technology Holding's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2025 was -14.042 (Mar. 2025 ) + 0.024 (Sep. 2025 ) = $-14.02 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.
Metalpha Technology Holding (MATH) has a Sloan Ratio % of 0.37% as of Sep. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Metalpha Technology Holding and its competitors.
Is Metalpha Technology Holding's Sloan Ratio % too high?
Metalpha Technology Holding's current Sloan Ratio % is 0.37%. Overall, Metalpha Technology Holding has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Metalpha Technology Holding's Sloan Ratio % compare to HGBL and GSIW?
Metalpha Technology Holding's Sloan Ratio % of 0.37% 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 Metalpha Technology Holding and its competitors. Metalpha Technology Holding's current Sloan Ratio % is 0.37%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Metalpha Technology Holding stock overvalued right now?
Based on GuruFocus' analysis, Metalpha Technology Holding (MATH) is currently considered Possible Value Trap. The stock's GF Value™ is $2.32, compared to a current price of $0.86 — trading 62.9% below its estimated fair value. The current Sloan Ratio % is 0.37%. Metalpha Technology Holding's overall GF Score™ is 42/100 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 Metalpha Technology Holding (MATH), the current Sloan Ratio % is 0.37% as of Sep. 2025. 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 Metalpha Technology Holding (MATH) Overvalued in 2026?
Based on GuruFocus' analysis, Metalpha Technology Holding stock appears to be undervalued.
The current stock price of $0.86 is trading 62.9% below its estimated GF Value™ of $2.32.
GuruFocus considers Metalpha Technology Holding to be Possible Value Trap.
Key valuation signals for MATH:
Sloan Ratio %: 0.37%
GF Value™: $2.32 vs. price of $0.86 (62.9% below fair value)
No single metric tells the full story. See the MATH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Metalpha Technology Holding Ltd is a digital asset focused wealth management company. The company predominantly generates revenue from the execution of cryptocurrency-related transactions, which includes the issuance of derivative products to over-the-counter (OTC) clients and its proprietary trading activities. It has partnered with a crypto exchange to provide crypto derivative market-making services for its clients, facilitating the trading of crypto derivative products. In addition, the company also engages in providing traditional financial derivative products, and asset management services. It operates in a single segment which is the trading of proprietary digital assets and derivative contracts, and generates majority of its revenue from Hong Kong.
42GF Score
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Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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