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.
When sloan ratio (28.12)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
As of Mar. 2026, Top Line Business Development has a Sloan Ratio of 24.17%, indicating earnings are more likely to be made up of accruals.
Top Line Business Development (PHS:TOP) 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, Top Line Business Development has a Sloan Ratio of 24.17%, indicating earnings are more likely to be made up of accruals.
Top Line Business Development Sloan Ratio % Related Terms
Top Line Business Development 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.
PHS:TOP vs CASY, WSM, DKS: Sloan Ratio % Comparison
For the Specialty Retail subindustry, Top Line Business Development'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.
Top Line Business Development Sloan Ratio % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Top Line Business Development's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Top Line Business Development's Sloan Ratio % falls into.
Top Line Business Development 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.
Top Line Business Development's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 38.355 (Jun. 2025 ) + 33.316 (Sep. 2025 ) + 10.691 (Dec. 2025 ) + 62.26 (Mar. 2026 ) = ₱145 Mil.
Top Line Business Development's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -635.145 (Jun. 2025 ) + -68.152 (Sep. 2025 ) + 39.981 (Dec. 2025 ) + -20.773 (Mar. 2026 ) = ₱-684 Mil.
Top Line Business Development's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -89.251 (Jun. 2025 ) + -202.746 (Sep. 2025 ) + -310.804 (Dec. 2025 ) + 141.237 (Mar. 2026 ) = ₱-462 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.
Top Line Business Development (PHS:TOP) has a Sloan Ratio % of 24.17% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Top Line Business Development and its competitors.
Is Top Line Business Development's Sloan Ratio % too high?
Top Line Business Development's current Sloan Ratio % is 24.17%. Overall, Top Line Business Development has a GF Score™ of 5/100, reflecting its overall financial health beyond just this single metric.
How does Top Line Business Development's Sloan Ratio % compare to CASY and WSM?
Top Line Business Development's Sloan Ratio % of 24.17% can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good Sloan Ratio % depends on the Retail - Cyclical 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 Top Line Business Development and its competitors. Top Line Business Development's current Sloan Ratio % is 24.17%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Top Line Business Development stock overvalued right now?
Top Line Business Development (PHS:TOP) has a current Sloan Ratio % of 24.17%. The current Sloan Ratio % is 24.17%. Top Line Business Development's overall GF Score™ is 5/100 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 Top Line Business Development (PHS:TOP), the current Sloan Ratio % is 24.17% 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.
Top Line Business Development Business Description
Top Line Business Development Corp is providing consistent and reliable fuel solutions that power industries with efficiency and sustainability. It is mainly focused on its vertically integrated liquid fuels business, with an emphasis on the underserved Central Visayas region. The company is engaged in the business of petroleum and petroleum products, mineral oils, and other sources of energy.
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