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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 Feb. 2026, Nomura Real Estate Master Fund has a Sloan Ratio of -1.10%, indicating the company is in the safe zone and there is no funny business with accruals.
Nomura Real Estate Master Fund (OTCPK:NMMRF) 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 Feb. 2026, Nomura Real Estate Master Fund has a Sloan Ratio of -1.10%, indicating the company is in the safe zone and there is no funny business with accruals.
Nomura Real Estate Master Fund Sloan Ratio % Related Terms
Nomura Real Estate Master Fund 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.
Nomura Real Estate Master Fund Sloan Ratio % Chart
For the REIT - Retail subindustry, Nomura Real Estate Master Fund'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.
Nomura Real Estate Master Fund Sloan Ratio % vs REITs Industry
For the REITs industry and Real Estate sector, Nomura Real Estate Master Fund's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Nomura Real Estate Master Fund's Sloan Ratio % falls into.
Nomura Real Estate Master Fund 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.
Nomura Real Estate Master Fund's Net Income for the trailing twelve months (TTM) ended in Feb. 2026 was 109.195 (Aug. 2025 ) + 86.107 (Feb. 2026 ) = $195.3 Mil.
Nomura Real Estate Master Fund's Cash Flow from Operations for the trailing twelve months (TTM) ended in Feb. 2026 was 148.272 (Aug. 2025 ) + 289.496 (Feb. 2026 ) = $437.8 Mil.
Nomura Real Estate Master Fund's Cash Flow from Investing for the trailing twelve months (TTM) ended in Feb. 2026 was -10.769 (Aug. 2025 ) + -148.175 (Feb. 2026 ) = $-158.9 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.
Nomura Real Estate Master Fund (NMMRF) has a Sloan Ratio % of -1.10% as of Feb. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Nomura Real Estate Master Fund and its competitors.
Is Nomura Real Estate Master Fund's Sloan Ratio % too high?
Nomura Real Estate Master Fund's current Sloan Ratio % is -1.10%. Overall, Nomura Real Estate Master Fund has a GF Score™ of 57/100, reflecting its overall financial health beyond just this single metric.
How does Nomura Real Estate Master Fund's Sloan Ratio % compare to SPG and O?
Nomura Real Estate Master Fund's Sloan Ratio % of -1.10% can be compared against companies in the REITs 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 REITs company?
A good Sloan Ratio % depends on the REITs 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 Nomura Real Estate Master Fund and its competitors. Nomura Real Estate Master Fund's current Sloan Ratio % is -1.10%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nomura Real Estate Master Fund stock overvalued right now?
Nomura Real Estate Master Fund (NMMRF) has a current Sloan Ratio % of -1.10%. The stock's GF Value™ is $1,060.61, compared to a current price of $1,008.35 — trading 4.9% below its estimated fair value. The current Sloan Ratio % is -1.10%. Nomura Real Estate Master Fund's overall GF Score™ is 57/100 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 Nomura Real Estate Master Fund (NMMRF), the current Sloan Ratio % is -1.10% as of Feb. 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 Nomura Real Estate Master Fund (NMMRF) Overvalued in 2026?
Based on GuruFocus' analysis, Nomura Real Estate Master Fund stock appears to be undervalued.
The current stock price of $1,008.35 is trading 4.9% below its estimated GF Value™ of $1,060.61.
Key valuation signals for NMMRF:
Sloan Ratio %: -1.10%
GF Value™: $1,060.61 vs. price of $1,008.35 (4.9% below fair value)
No single metric tells the full story. See the NMMRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nomura Real Estate Master Fund Business Description
Nomura Real Estate Master Fund Inc is a Japanese based company operates as a real estate investment trust. It is implementing medium- to long-term management Strategy, to achieve securing stable income over the medium to long term period, also ensures the steady growth of assets under management. The company invests in logistic facilities and commercial facilities in the Tokyo metropolitan area. It is managed by the fund manager Nomura Real Estate Asset Management Co Ltd.
57GF 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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