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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 Dec. 2025, Primary Health Properties has a Sloan Ratio of 6.69%, indicating the company is in the safe zone and there is no funny business with accruals.
Primary Health Properties (OTCPK:PHPRF) 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, Primary Health Properties has a Sloan Ratio of 6.69%, indicating the company is in the safe zone and there is no funny business with accruals.
Primary Health Properties Sloan Ratio % Related Terms
Primary Health Properties 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.
For the REIT - Healthcare Facilities subindustry, Primary Health Properties'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.
Primary Health Properties Sloan Ratio % vs REITs Industry
For the REITs industry and Real Estate sector, Primary Health Properties's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Primary Health Properties's Sloan Ratio % falls into.
Primary Health Properties 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.
Primary Health Properties's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Primary Health Properties's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was 80.597 (Jun. 2025 ) + 79.786 (Dec. 2025 ) = $160.4 Mil.
Primary Health Properties's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was 101.9 (Jun. 2025 ) + 139.09 (Dec. 2025 ) = $241.0 Mil.
Primary Health Properties's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was -42.741 (Jun. 2025 ) + -578.983 (Dec. 2025 ) = $-621.7 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.
Primary Health Properties (PHPRF) has a Sloan Ratio % of 6.69% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Primary Health Properties and its competitors.
Is Primary Health Properties' Sloan Ratio % too high?
Primary Health Properties' current Sloan Ratio % is 6.69%. Overall, Primary Health Properties has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Primary Health Properties' Sloan Ratio % compare to WELL and VTR?
Primary Health Properties' Sloan Ratio % of 6.69% 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 Primary Health Properties and its competitors. Primary Health Properties's current Sloan Ratio % is 6.69%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Primary Health Properties stock overvalued right now?
Based on GuruFocus' analysis, Primary Health Properties (PHPRF) is currently considered Possible Value Trap. The stock's GF Value™ is $3.40, compared to a current price of $1.25 — trading 63.2% below its estimated fair value. The current Sloan Ratio % is 6.69%. Primary Health Properties' overall GF Score™ is 62/100 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 Primary Health Properties (PHPRF), the current Sloan Ratio % is 6.69% 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.
Is Primary Health Properties (PHPRF) Overvalued in 2026?
Based on GuruFocus' analysis, Primary Health Properties stock appears to be undervalued.
The current stock price of $1.25 is trading 63.2% below its estimated GF Value™ of $3.40.
GuruFocus considers Primary Health Properties to be Possible Value Trap.
Key valuation signals for PHPRF:
Sloan Ratio %: 6.69%
GF Value™: $3.40 vs. price of $1.25 (63.2% below fair value)
No single metric tells the full story. See the PHPRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Primary Health Properties PLC is a UK-based real estate investment trust. The company is engaged in making investments in integrated healthcare properties. Its services include Acquisition and development, Property management, Landlord and tenant, Asset management, and Finance. It seeks the generation of rental income and capital growth through investment in primary healthcare property in the United Kingdom and Ireland. It receives rental income on property investments.
62GF Score
Get the complete analysis for PHPRF
Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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