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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.
Nickel Asia's Sloan Ratio for the quarter that ended in Mar. 2026 was -0.35%.
As of Mar. 2026, Nickel Asia has a Sloan Ratio of -0.35%, indicating the company is in the safe zone and there is no funny business with accruals.
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, Nickel Asia has a Sloan Ratio of -0.35%, indicating the company is in the safe zone and there is no funny business with accruals.
Nickel Asia Sloan Ratio % Related Terms
Nickel Asia Sloan Ratio % Historical Data
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The historical data trend for Nickel Asia'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 Other Industrial Metals & Mining subindustry, Nickel Asia'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.
Nickel Asia Sloan Ratio % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Nickel Asia's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Nickel Asia'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.
Nickel Asia's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Nickel Asia's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 1597.042 (Jun. 2025 ) + 3094.64 (Sep. 2025 ) + 1076.215 (Dec. 2025 ) + 371.765 (Mar. 2026 ) = ₱6,140 Mil.
Nickel Asia's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 4893.984 (Jun. 2025 ) + 5846.918 (Sep. 2025 ) + 991.725 (Dec. 2025 ) + 587.053 (Mar. 2026 ) = ₱12,320 Mil.
Nickel Asia's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -2430.372 (Jun. 2025 ) + 692.52 (Sep. 2025 ) + -3754.037 (Dec. 2025 ) + -461.133 (Mar. 2026 ) = ₱-5,953 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.
Nickel Asia (PHS:NIKL) has a Sloan Ratio % of -0.35% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Nickel Asia and its competitors.
Is Nickel Asia's Sloan Ratio % too high?
Nickel Asia's current Sloan Ratio % is -0.35%. Overall, Nickel Asia has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nickel Asia's Sloan Ratio % compare to competitors?
Nickel Asia's Sloan Ratio % of -0.35% can be compared against companies in the Metals & Mining 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 Metals & Mining company?
A good Sloan Ratio % depends on the Metals & Mining 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 Nickel Asia and its competitors. Nickel Asia's current Sloan Ratio % is -0.35%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nickel Asia stock overvalued right now?
Based on GuruFocus' analysis, Nickel Asia (PHS:NIKL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₱4.92, compared to a current price of ₱4.12 — trading 16.3% below its estimated fair value. The current Sloan Ratio % is -0.35%. Nickel Asia's overall GF Score™ is 92/100 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 Nickel Asia (PHS:NIKL), the current Sloan Ratio % is -0.35% 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 Nickel Asia (PHS:NIKL) Overvalued in 2026?
Based on GuruFocus' analysis, Nickel Asia stock appears to be undervalued.
The current stock price of ₱4.12 is trading 16.3% below its estimated GF Value™ of ₱4.92.
GuruFocus considers Nickel Asia to be Modestly Undervalued.
Key valuation signals for PHS:NIKL:
Sloan Ratio %: -0.35%
GF Value™: ₱4.92 vs. price of ₱4.12 (16.3% below fair value)
No single metric tells the full story. See the PHS:NIKL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nickel Asia Corp is a diversified natural resources development company is principally engaged in the business of producing beneficiated nickel ore, limestone, and quarry materials, rendering of services, and generating revenue from sale of power. The company has three operating segments which is The mining segment which accounts for a majority of the company's revenue includes the mining and exploration of nickel saprolite and limonite ore, limestone, and quarry materials, the services segment includes chartering out of LCT, construction and rendering of services to CBNC, THNC, and other parties and leasing of aircraft to WAISC, and the power segment is into power generation and exploration for geothermal resources.
92GF Score
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