Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
NGL Energy Partners LP's Sloan Ratio for the quarter that ended in Mar. 2026 was -11.78%.
As of Mar. 2026, NGL Energy Partners LP has a Sloan Ratio of -11.78%, indicating there is a warning stage of accrual build up.
NGL Energy Partners LP (NYSE:NGL) 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, NGL Energy Partners LP has a Sloan Ratio of -11.78%, indicating there is a warning stage of accrual build up.
NGL Energy Partners LP Sloan Ratio % Related Terms
NGL Energy Partners LP 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.
For the Oil & Gas Midstream subindustry, NGL Energy Partners LP'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.
NGL Energy Partners LP Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NGL Energy Partners LP's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where NGL Energy Partners LP'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.
NGL Energy Partners LP's Sloan Ratio for the fiscal year that ended in Mar. 2026 is calculated as
NGL Energy Partners LP's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 68.922 (Jun. 2025 ) + 29.284 (Sep. 2025 ) + 47.179 (Dec. 2025 ) + -287.68 (Mar. 2026 ) = $-142 Mil.
NGL Energy Partners LP's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 33.202 (Jun. 2025 ) + 40.451 (Sep. 2025 ) + 182.281 (Dec. 2025 ) + 110.019 (Mar. 2026 ) = $366 Mil.
NGL Energy Partners LP's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 199.147 (Jun. 2025 ) + -19.489 (Sep. 2025 ) + -132.007 (Dec. 2025 ) + -64.135 (Mar. 2026 ) = $-16 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.
NGL Energy Partners LP (NGL) has a Sloan Ratio % of -11.78% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on NGL Energy Partners LP and its competitors.
Is NGL Energy Partners LP's Sloan Ratio % too high?
NGL Energy Partners LP's current Sloan Ratio % is -11.78%. Overall, NGL Energy Partners LP has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NGL Energy Partners LP's Sloan Ratio % compare to GEL and TNK?
NGL Energy Partners LP's Sloan Ratio % of -11.78% 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 NGL Energy Partners LP and its competitors. NGL Energy Partners LP's current Sloan Ratio % is -11.78%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NGL Energy Partners LP stock overvalued right now?
Based on GuruFocus' analysis, NGL Energy Partners LP (NGL) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.39, compared to a current price of $15.73 — trading 258.3% above its estimated fair value. The current Sloan Ratio % is -11.78%. NGL Energy Partners LP's overall GF Score™ is 41/100 with 6 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 NGL Energy Partners LP (NGL), the current Sloan Ratio % is -11.78% 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 NGL Energy Partners LP (NGL) Overvalued in 2026?
Based on GuruFocus' analysis, NGL Energy Partners LP stock appears to be overvalued.
The current stock price of $15.73 is trading 258.3% above its estimated GF Value™ of $4.39.
GuruFocus considers NGL Energy Partners LP to be Significantly Overvalued.
Key valuation signals for NGL:
Sloan Ratio %: -11.78%
GF Value™: $4.39 vs. price of $15.73 (258.3% above fair value)
No single metric tells the full story. See the NGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NGL Energy Partners LP is a USA-based firm that owns and operates a vertically integrated energy business. The company's operating segments include Crude Oil Logistics, Water Solutions, and Liquids Logistics. It operates crude oil Logistics, owns pipeline injection stations, and offers services for the treatment and disposal of wastewater generated from crude oil and natural gas production, as well as for the disposal of solids, such as tank bottoms and drilling fluids. The firm also supplies natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants and sells propane and distillates.
41GF Score
Get the complete analysis for NGL
Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NGL has been successfully added to your 
