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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.
PZ Cussons Nigeria's Sloan Ratio for the quarter that ended in Feb. 2026 was -4.53%.
As of Feb. 2026, PZ Cussons Nigeria has a Sloan Ratio of -4.53%, indicating the company is in the safe zone and there is no funny business with accruals.
PZ Cussons Nigeria (NSA:PZ) 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, PZ Cussons Nigeria has a Sloan Ratio of -4.53%, indicating the company is in the safe zone and there is no funny business with accruals.
PZ Cussons Nigeria Sloan Ratio % Related Terms
PZ Cussons Nigeria Sloan Ratio % Historical Data
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The historical data trend for PZ Cussons 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.
For the Household & Personal Products subindustry, PZ Cussons 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.
PZ Cussons Nigeria Sloan Ratio % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, PZ Cussons Nigeria's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PZ Cussons 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.
PZ Cussons Nigeria's Sloan Ratio for the fiscal year that ended in May. 2025 is calculated as
PZ Cussons Nigeria's Net Income for the trailing twelve months (TTM) ended in Feb. 2026 was -5034.979 (May. 2025 ) + 13049.235 (Aug. 2025 ) + 7469.979 (Nov. 2025 ) + 16805.535 (Feb. 2026 ) = ₦32,290 Mil.
PZ Cussons Nigeria's Cash Flow from Operations for the trailing twelve months (TTM) ended in Feb. 2026 was 224.904 (May. 2025 ) + -12462.478 (Aug. 2025 ) + 10995.537 (Nov. 2025 ) + 13304.778 (Feb. 2026 ) = ₦12,063 Mil.
PZ Cussons Nigeria's Cash Flow from Investing for the trailing twelve months (TTM) ended in Feb. 2026 was -2931.345 (May. 2025 ) + 11983.46 (Aug. 2025 ) + 1889.037 (Nov. 2025 ) + 17237.9 (Feb. 2026 ) = ₦28,179 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.
PZ Cussons Nigeria (NSA:PZ) has a Sloan Ratio % of -4.53% as of Feb. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PZ Cussons Nigeria and its competitors.
Is PZ Cussons Nigeria's Sloan Ratio % too high?
PZ Cussons Nigeria's current Sloan Ratio % is -4.53%. Overall, PZ Cussons Nigeria has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PZ Cussons Nigeria's Sloan Ratio % compare to PG and CL?
PZ Cussons Nigeria's Sloan Ratio % of -4.53% 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 PZ Cussons Nigeria and its competitors. PZ Cussons Nigeria's current Sloan Ratio % is -4.53%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PZ Cussons Nigeria stock overvalued right now?
Based on GuruFocus' analysis, PZ Cussons Nigeria (NSA:PZ) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦53.15, compared to a current price of ₦83.00 — trading 56.2% above its estimated fair value. The current Sloan Ratio % is -4.53%. PZ Cussons Nigeria's overall GF Score™ is 67/100 with 1 warning sign 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 PZ Cussons Nigeria (NSA:PZ), the current Sloan Ratio % is -4.53% 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 PZ Cussons Nigeria (NSA:PZ) Overvalued in 2026?
Based on GuruFocus' analysis, PZ Cussons Nigeria stock appears to be overvalued.
The current stock price of ₦83.00 is trading 56.2% above its estimated GF Value™ of ₦53.15.
GuruFocus considers PZ Cussons Nigeria to be Significantly Overvalued.
Key valuation signals for NSA:PZ:
Sloan Ratio %: -4.53%
GF Value™: ₦53.15 vs. price of ₦83.00 (56.2% above fair value)
No single metric tells the full story. See the NSA:PZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PZ Cussons Nigeria PLC manufactures, distributes and sells consumer products and home appliances. The company's operating segment includes Home and Personal Care Products and Durable Electrical Appliances. It generates maximum revenue from the Home and Personal Care Products segment. Home and Personal Care Products segment includes the production and sale of Morning Fresh, Zip, Canoe, Premier, Excel, Joy, Stella, Venus, Imperial Leather, Cussons Baby, Original Source, Carex, Robb, and others. The Durable Electrical Appliances segment includes the production and sale of Haier Thermocool Refrigerators, Freezers, Televisions, Generators, Air conditioners, Washing Machines and others. Geographically it derives revenue from Nigeria.
67GF 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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