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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.
New Fortress Energy's Sloan Ratio for the quarter that ended in Mar. 2026 was -19.45%.
As of Mar. 2026, New Fortress Energy has a Sloan Ratio of -19.45%, indicating there is a warning stage of accrual build up.
New Fortress Energy (NAS:NFE) 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, New Fortress Energy has a Sloan Ratio of -19.45%, indicating there is a warning stage of accrual build up.
New Fortress Energy Sloan Ratio % Related Terms
New Fortress Energy Sloan Ratio % Historical Data
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The historical data trend for New Fortress Energy'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 Oil & Gas Midstream subindustry, New Fortress Energy'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.
New Fortress Energy Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, New Fortress Energy's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where New Fortress Energy'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.
New Fortress Energy's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
New Fortress Energy's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -554.631 (Jun. 2025 ) + -299.66 (Sep. 2025 ) + -789.734 (Dec. 2025 ) + -399.945 (Mar. 2026 ) = $-2,044 Mil.
New Fortress Energy's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -376.919 (Jun. 2025 ) + -191.031 (Sep. 2025 ) + -8.195 (Dec. 2025 ) + -118.902 (Mar. 2026 ) = $-695 Mil.
New Fortress Energy's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 551.991 (Jun. 2025 ) + -105.796 (Sep. 2025 ) + 270.11 (Dec. 2025 ) + -43.566 (Mar. 2026 ) = $673 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.
New Fortress Energy (NFE) has a Sloan Ratio % of -19.45% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on New Fortress Energy and its competitors.
Is New Fortress Energy's Sloan Ratio % too high?
New Fortress Energy's current Sloan Ratio % is -19.45%. Overall, New Fortress Energy has a GF Score™ of 49/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does New Fortress Energy's Sloan Ratio % compare to MMLP and DLNG?
New Fortress Energy's Sloan Ratio % of -19.45% can be compared against companies in the Oil & Gas 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 Oil & Gas company?
A good Sloan Ratio % depends on the Oil & Gas 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 New Fortress Energy and its competitors. New Fortress Energy's current Sloan Ratio % is -19.45%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Fortress Energy stock overvalued right now?
Based on GuruFocus' analysis, New Fortress Energy (NFE) is currently considered Possible Value Trap. The stock's GF Value™ is $4.37, compared to a current price of $0.34 — trading 92.3% below its estimated fair value. The current Sloan Ratio % is -19.45%. New Fortress Energy's overall GF Score™ is 49/100 with 10 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 New Fortress Energy (NFE), the current Sloan Ratio % is -19.45% 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 New Fortress Energy (NFE) Overvalued in 2026?
Based on GuruFocus' analysis, New Fortress Energy stock appears to be undervalued.
The current stock price of $0.34 is trading 92.3% below its estimated GF Value™ of $4.37.
GuruFocus considers New Fortress Energy to be Possible Value Trap.
Key valuation signals for NFE:
Sloan Ratio %: -19.45%
GF Value™: $4.37 vs. price of $0.34 (92.3% below fair value)
No single metric tells the full story. See the NFE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
New Fortress Energy Inc is an integrated gas-to-power company. It owns and operates natural gas and liquefied natural gas (LNG) infrastructure, and an integrated fleet of ships and logistics assets to deliver turnkey energy solutions to markets globally. The company's reportable segments are: Terminals and Infrastructure, and Ships. Maximum revenue is generated from the Terminals and Infrastructure segment, which includes vertically integrated gas-to-power solutions, spanning the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, facilities, and conversion or development of natural gas-fired power generation. Vessels that are utilized in the company's terminal, logistics, or sub-charter operations are included in this segment.
49GF Score
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