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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.
Nestle Nigeria's Sloan Ratio for the quarter that ended in Mar. 2026 was -11.19%.
As of Mar. 2026, Nestle Nigeria has a Sloan Ratio of -11.19%, indicating there is a warning stage of accrual build up.
Nestle Nigeria (NSA:NESTLE) 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, Nestle Nigeria has a Sloan Ratio of -11.19%, indicating there is a warning stage of accrual build up.
Nestle Nigeria Sloan Ratio % Related Terms
Nestle Nigeria Sloan Ratio % Historical Data
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The historical data trend for Nestle Nigeria'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.
NSA:NESTLE vs KHC, GIS, HRL: Sloan Ratio % Comparison
For the Packaged Foods subindustry, Nestle Nigeria'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.
Nestle Nigeria Sloan Ratio % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Nestle Nigeria's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Nestle Nigeria'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.
Nestle Nigeria's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Nestle Nigeria's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 20392.03 (Jun. 2025 ) + 21912.017 (Sep. 2025 ) + 32483.92 (Dec. 2025 ) + 38997.859 (Mar. 2026 ) = ₦113,786 Mil.
Nestle Nigeria's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 73240.445 (Jun. 2025 ) + 60810.589 (Sep. 2025 ) + 115087.402 (Dec. 2025 ) + 56881.253 (Mar. 2026 ) = ₦306,020 Mil.
Nestle Nigeria's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -27062.994 (Jun. 2025 ) + -13717.475 (Sep. 2025 ) + -42326.756 (Dec. 2025 ) + -9724.891 (Mar. 2026 ) = ₦-92,832 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.
Nestle Nigeria (NSA:NESTLE) has a Sloan Ratio % of -11.19% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Nestle Nigeria and its competitors.
Is Nestle Nigeria's Sloan Ratio % too high?
Nestle Nigeria's current Sloan Ratio % is -11.19%. Overall, Nestle Nigeria has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nestle Nigeria's Sloan Ratio % compare to KHC and GIS?
Nestle Nigeria's Sloan Ratio % of -11.19% can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Sloan Ratio % depends on the Consumer Packaged Goods 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 Nestle Nigeria and its competitors. Nestle Nigeria's current Sloan Ratio % is -11.19%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nestle Nigeria stock overvalued right now?
Based on GuruFocus' analysis, Nestle Nigeria (NSA:NESTLE) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦2,175.31, compared to a current price of ₦3,125.00 — trading 43.7% above its estimated fair value. The current Sloan Ratio % is -11.19%. Nestle Nigeria's overall GF Score™ is 73/100 with 8 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 Nestle Nigeria (NSA:NESTLE), the current Sloan Ratio % is -11.19% 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 Nestle Nigeria (NSA:NESTLE) Overvalued in 2026?
Based on GuruFocus' analysis, Nestle Nigeria stock appears to be overvalued.
The current stock price of ₦3,125.00 is trading 43.7% above its estimated GF Value™ of ₦2,175.31.
GuruFocus considers Nestle Nigeria to be Significantly Overvalued.
Key valuation signals for NSA:NESTLE:
Sloan Ratio %: -11.19%
GF Value™: ₦2,175.31 vs. price of ₦3,125.00 (43.7% above fair value)
No single metric tells the full story. See the NSA:NESTLE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nestle Nigeria PLC is a food and beverage company. It is involved in the business of manufacturing, marketing, and distribution of food products. The firm has categorized its products into Baby foods, Coffee, Culinary, Dairy, Drinks, and Recipes. It develops and markets its products under brands such as Cerelac, Nescafe, Nido, Maggi, Milo, etc. The company has Food and Beverage reportable segments. The Food segment engaged in the production and sale of Maggi, Cerelac, SMA, Nan, Lactogen, and Golden Morn. The Beverage segment consists of the production and sale of Milo, Chocomilo, Nido, Nescafe, Milo ready-to-drink, and Nestle Pure Life. The Food segment generates the majority of the revenue. Geographically, the majority of the revenue is generated from Nigeria.
73GF Score
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