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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 Jun. 2026, Nihon Office Automation Research Co has a Sloan Ratio of -5.28%, indicating the company is in the safe zone and there is no funny business with accruals.
Nihon Office Automation Research Co (NGO:5241) 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, Nihon Office Automation Research Co has a Sloan Ratio of -5.28%, indicating the company is in the safe zone and there is no funny business with accruals.
Nihon Office Automation Research Co Sloan Ratio % Related Terms
Nihon Office Automation Research Co 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.
Nihon Office Automation Research Co Sloan Ratio % Chart
Nihon Office Automation Research Co Annual Data
Trend
Dec20
Dec21
Dec23
Dec24
Dec25
Sloan Ratio %
-3.54
13.28
-1.10
-3.24
1.92
Nihon Office Automation Research Co Semi-Annual Data
NGO:5241 vs IBM, ACN, CTSH: Sloan Ratio % Comparison
For the Information Technology Services subindustry, Nihon Office Automation Research Co'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.
Nihon Office Automation Research Co Sloan Ratio % vs Software Industry
For the Software industry and Technology sector, Nihon Office Automation Research Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Nihon Office Automation Research Co's Sloan Ratio % falls into.
Nihon Office Automation Research Co 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 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.
Nihon Office Automation Research Co (NGO:5241) has a Sloan Ratio % of -5.28% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Nihon Office Automation Research Co and its competitors.
Is Nihon Office Automation Research Co's Sloan Ratio % too high?
Nihon Office Automation Research Co's current Sloan Ratio % is -5.28%. Overall, Nihon Office Automation Research Co has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Nihon Office Automation Research Co's Sloan Ratio % compare to IBM and ACN?
Nihon Office Automation Research Co's Sloan Ratio % of -5.28% can be compared against companies in the Software 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 Software company?
A good Sloan Ratio % depends on the Software 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 Nihon Office Automation Research Co and its competitors. Nihon Office Automation Research Co's current Sloan Ratio % is -5.28%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nihon Office Automation Research Co stock overvalued right now?
Nihon Office Automation Research Co (NGO:5241) has a current Sloan Ratio % of -5.28%. The current Sloan Ratio % is -5.28%. Nihon Office Automation Research Co's overall GF Score™ is 19/100. 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 Nihon Office Automation Research Co (NGO:5241), the current Sloan Ratio % is -5.28% 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.
Nihon Office Automation Research Co Ltd is involved in system development, continuous maintenance, support, system modifications, and related services. The company provides high-value-added IT services by participating in the development of central government office systems.
19GF Score
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