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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.
Ester Industries's Sloan Ratio for the quarter that ended in Jun. 2026 was 0.00%.
As of Jun. 2026, Ester Industries has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Ester Industries (NSE:ESTER) 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, Ester Industries has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Ester Industries Sloan Ratio % Related Terms
Ester Industries Sloan Ratio % Historical Data
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The historical data trend for Ester Industries'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.
NSE:ESTER vs LIN, SHW, ECL: Sloan Ratio % Comparison
For the Specialty Chemicals subindustry, Ester Industries'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.
Ester Industries Sloan Ratio % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Ester Industries's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Ester Industries'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.
Ester Industries's Sloan Ratio for the fiscal year that ended in Mar. 2026 is calculated as
Ester Industries's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was -157.774 (Sep. 2025 ) + -124.126 (Dec. 2025 ) + 78.74 (Mar. 2026 ) + 186.182 (Jun. 2026 ) = ₹-17 Mil.
Ester Industries's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 0 (Sep. 2025 ) + 0 (Dec. 2025 ) + 0 (Mar. 2026 ) + 0 (Jun. 2026 ) = ₹0 Mil.
Ester Industries's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was 0 (Sep. 2025 ) + 0 (Dec. 2025 ) + 0 (Mar. 2026 ) + 0 (Jun. 2026 ) = ₹0 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.
Ester Industries (NSE:ESTER) has a Sloan Ratio % of 0.00% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Ester Industries and its competitors.
Is Ester Industries' Sloan Ratio % too high?
Ester Industries' current Sloan Ratio % is 0.00%. Overall, Ester Industries has a GF Score™ of 67/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ester Industries' Sloan Ratio % compare to LIN and SHW?
Ester Industries' Sloan Ratio % of 0.00% can be compared against companies in the Chemicals 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 Chemicals company?
A good Sloan Ratio % depends on the Chemicals 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 Ester Industries and its competitors. Ester Industries's current Sloan Ratio % is 0.00%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ester Industries stock overvalued right now?
Based on GuruFocus' analysis, Ester Industries (NSE:ESTER) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹120.30, compared to a current price of ₹95.14 — trading 20.9% below its estimated fair value. The current Sloan Ratio % is 0.00%. Ester Industries' overall GF Score™ is 67/100 with 2 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 Ester Industries (NSE:ESTER), the current Sloan Ratio % is 0.00% 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.
Is Ester Industries (NSE:ESTER) Overvalued in 2026?
Based on GuruFocus' analysis, Ester Industries stock appears to be undervalued.
The current stock price of ₹95.14 is trading 20.9% below its estimated GF Value™ of ₹120.30.
GuruFocus considers Ester Industries to be Modestly Undervalued.
Key valuation signals for NSE:ESTER:
Sloan Ratio %: 0.00%
GF Value™: ₹120.30 vs. price of ₹95.14 (20.9% below fair value)
No single metric tells the full story. See the NSE:ESTER stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ester Industries Ltd is engaged in the manufacturing of polyester films, and specialty polymers. The company operates through segments namely Polyester chips and film and Speciality Polymers. The company generates maximum revenue from the Polyester chips and film segment. The Polyester chips and film segment is used in flexible packaging and other industrial applications. It serves food packaging; beverage packaging, home and personal care, industrial packaging, construction, automotive, electrical and electronics, carpet, and other industries. Geographically, the company derives a majority of its revenue from India.
67GF Score
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