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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.
NACCO Industries's Sloan Ratio for the quarter that ended in Jun. 2026 was 5.36%.
As of Jun. 2026, NACCO Industries has a Sloan Ratio of 5.36%, indicating the company is in the safe zone and there is no funny business with accruals.
NACCO Industries (NYSE:NC) 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 Jun. 2026, NACCO Industries has a Sloan Ratio of 5.36%, indicating the company is in the safe zone and there is no funny business with accruals.
NACCO Industries Sloan Ratio % Related Terms
NACCO Industries Sloan Ratio % Historical Data
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The historical data trend for NACCO Industries'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 Thermal Coal subindustry, NACCO Industries'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.
NACCO Industries Sloan Ratio % vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, NACCO Industries's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where NACCO Industries'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.
NACCO Industries's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
NACCO Industries's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 13.254 (Sep. 2025 ) + -3.84 (Dec. 2025 ) + 8.836 (Mar. 2026 ) + -0.963 (Jun. 2026 ) = $17.3 Mil.
NACCO Industries's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 42.255 (Sep. 2025 ) + 11.407 (Dec. 2025 ) + 12.374 (Mar. 2026 ) + 8.299 (Jun. 2026 ) = $74.3 Mil.
NACCO Industries's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -21.775 (Sep. 2025 ) + -31.366 (Dec. 2025 ) + -32.525 (Mar. 2026 ) + -7.674 (Jun. 2026 ) = $-93.3 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.
NACCO Industries (NC) has a Sloan Ratio % of 5.36% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on NACCO Industries and its competitors.
Is NACCO Industries' Sloan Ratio % too high?
NACCO Industries' current Sloan Ratio % is 5.36%. Overall, NACCO Industries has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NACCO Industries' Sloan Ratio % compare to NRP and CNR?
NACCO Industries' Sloan Ratio % of 5.36% can be compared against companies in the Other Energy Sources 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 Other Energy Sources company?
A good Sloan Ratio % depends on the Other Energy Sources 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 NACCO Industries and its competitors. NACCO Industries's current Sloan Ratio % is 5.36%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NACCO Industries stock overvalued right now?
Based on GuruFocus' analysis, NACCO Industries (NC) is currently considered Fairly Valued. The stock's GF Value™ is $41.32, compared to a current price of $41.91 — trading 1.4% above its estimated fair value. The current Sloan Ratio % is 5.36%. NACCO Industries' overall GF Score™ is 70/100 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 NACCO Industries (NC), the current Sloan Ratio % is 5.36% as of Jun. 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 NACCO Industries (NC) Overvalued in 2026?
Based on GuruFocus' analysis, NACCO Industries stock appears to be overvalued.
The current stock price of $41.91 is trading 1.4% above its estimated GF Value™ of $41.32.
GuruFocus considers NACCO Industries to be Fairly Valued.
Key valuation signals for NC:
Sloan Ratio %: 5.36%
GF Value™: $41.32 vs. price of $41.91 (1.4% above fair value)
No single metric tells the full story. See the NC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NACCO Industries Inc is a holding company that operates in the mining and natural resource industries. It has three operating segments: Utility Coal Mining, Contract Mining, and Minerals and Royalties. The Utility Coal Mining segment, operated by North American Coal, manages surface coal mines that are exclusive, long-term fuel providers for power generation companies. The Contract Mining segment, operated by North American Mining, is a provider of a broad range of specialized, long-term contract mining services. The Minerals and Royalties segment, which includes the Catapult Mineral Partners (Catapult) business, acquires and promotes the development of mineral and royalty interests and other related investments.
70GF Score
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