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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.
Theon International's Sloan Ratio for the quarter that ended in Dec. 2025 was 29.33%.
As of Dec. 2025, Theon International has a Sloan Ratio of 29.33%, indicating there is a warning stage of accrual build up.
Theon International (OTCPK:TNIPF) 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 Dec. 2025, Theon International has a Sloan Ratio of 29.33%, indicating there is a warning stage of accrual build up.
Theon International Sloan Ratio % Related Terms
Theon International Sloan Ratio % Historical Data
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The historical data trend for Theon International'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 Aerospace & Defense subindustry, Theon International'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.
Theon International Sloan Ratio % vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Theon International's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Theon International'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.
Theon International's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Theon International's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was 28.346 (Jun. 2024 ) + 39.074 (Dec. 2024 ) + 33.803 (Jun. 2025 ) + 46.653 (Dec. 2025 ) = $147.9 Mil.
Theon International's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was -42.027 (Jun. 2024 ) + 15.911 (Dec. 2024 ) + 29.586 (Jun. 2025 ) + 15.913 (Dec. 2025 ) = $19.4 Mil.
Theon International's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was -43.785 (Jun. 2024 ) + 8.118 (Dec. 2024 ) + 14.264 (Jun. 2025 ) + -32.851 (Dec. 2025 ) = $-54.3 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.
Theon International (TNIPF) has a Sloan Ratio % of 29.33% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Theon International and its competitors.
Is Theon International's Sloan Ratio % too high?
Theon International's current Sloan Ratio % is 29.33%. Overall, Theon International has a GF Score™ of 38/100, reflecting its overall financial health beyond just this single metric.
How does Theon International's Sloan Ratio % compare to ?
Theon International's Sloan Ratio % of 29.33% can be compared against companies in the Aerospace & Defense 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 an Aerospace & Defense company?
A good Sloan Ratio % depends on the Aerospace & Defense 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 Theon International and its competitors. Theon International's current Sloan Ratio % is 29.33%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Theon International stock overvalued right now?
Theon International (TNIPF) has a current Sloan Ratio % of 29.33%. The current Sloan Ratio % is 29.33%. Theon International's overall GF Score™ is 38/100 with 3 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 Theon International (TNIPF), the current Sloan Ratio % is 29.33% as of Dec. 2025. 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.
Theon International PLC is a defense and security technology company specializing in electro-optical systems and integrated solutions for military and security applications. It develops and manufactures night vision and thermal imaging systems used by defense and security organizations. The company operates internationally through subsidiaries and production facilities across multiple regions. Its products are used by armed forces and security agencies in various countries. In addition to electro-optical systems, it develops integrated soldier systems, ISR optronics, and platform solutions for land and maritime environments.
38GF Score
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