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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.
JG Summit Holdings's Sloan Ratio for the quarter that ended in Mar. 2026 was -14.16%.
As of Mar. 2026, JG Summit Holdings has a Sloan Ratio of -14.16%, indicating there is a warning stage of accrual build up.
JG Summit Holdings (PHS:JGS) 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, JG Summit Holdings has a Sloan Ratio of -14.16%, indicating there is a warning stage of accrual build up.
JG Summit Holdings Sloan Ratio % Related Terms
JG Summit Holdings Sloan Ratio % Historical Data
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The historical data trend for JG Summit Holdings'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 Conglomerates subindustry, JG Summit Holdings'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.
JG Summit Holdings Sloan Ratio % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, JG Summit Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where JG Summit Holdings'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.
JG Summit Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
JG Summit Holdings's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 10649.733 (Jun. 2025 ) + 3768.707 (Sep. 2025 ) + -107104.95 (Dec. 2025 ) + 5183.305 (Mar. 2026 ) = ₱-87,503 Mil.
JG Summit Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 15905.951 (Jun. 2025 ) + 8843.166 (Sep. 2025 ) + 27782.86 (Dec. 2025 ) + 20457.32 (Mar. 2026 ) = ₱72,989 Mil.
JG Summit Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 3508.671 (Jun. 2025 ) + -754.992 (Sep. 2025 ) + -13638.48 (Dec. 2025 ) + -9598.452 (Mar. 2026 ) = ₱-20,483 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.
JG Summit Holdings (PHS:JGS) has a Sloan Ratio % of -14.16% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on JG Summit Holdings and its competitors.
Is JG Summit Holdings' Sloan Ratio % too high?
JG Summit Holdings' current Sloan Ratio % is -14.16%. Overall, JG Summit Holdings has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does JG Summit Holdings' Sloan Ratio % compare to HON and MMM?
JG Summit Holdings' Sloan Ratio % of -14.16% can be compared against companies in the Conglomerates 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 Conglomerates company?
A good Sloan Ratio % depends on the Conglomerates 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 JG Summit Holdings and its competitors. JG Summit Holdings's current Sloan Ratio % is -14.16%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JG Summit Holdings stock overvalued right now?
Based on GuruFocus' analysis, JG Summit Holdings (PHS:JGS) is currently considered Modestly Undervalued. The stock's GF Value™ is ₱28.27, compared to a current price of ₱25.10 — trading 11.2% below its estimated fair value. The current Sloan Ratio % is -14.16%. JG Summit Holdings' overall GF Score™ is 93/100 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 JG Summit Holdings (PHS:JGS), the current Sloan Ratio % is -14.16% 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 JG Summit Holdings (PHS:JGS) Overvalued in 2026?
Based on GuruFocus' analysis, JG Summit Holdings stock appears to be undervalued.
The current stock price of ₱25.10 is trading 11.2% below its estimated GF Value™ of ₱28.27.
GuruFocus considers JG Summit Holdings to be Modestly Undervalued.
Key valuation signals for PHS:JGS:
Sloan Ratio %: -14.16%
GF Value™: ₱28.27 vs. price of ₱25.10 (11.2% below fair value)
No single metric tells the full story. See the PHS:JGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JG Summit Holdings Inc is a diversified Filipino conglomerate, engaged in food, agro-industrial, and commodities, real estate and hotel, air transportation, banking, and petrochemicals. The company also has investments in telecommunications and power generation, and distribution. It also has a branded consumer foods business in China, ASEAN, and an investment in a property development company in Singapore. The Group conducts businesses throughout the Philippines, around Metro Manila, and in the regions of Luzon, Visayas, and Mindanao.
93GF 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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