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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 Mar. 2026, Harbor Star Shipping Services has a Sloan Ratio of -5.04%, indicating the company is in the safe zone and there is no funny business with accruals.
Harbor Star Shipping Services (PHS:TUGS) 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, Harbor Star Shipping Services has a Sloan Ratio of -5.04%, indicating the company is in the safe zone and there is no funny business with accruals.
Harbor Star Shipping Services Sloan Ratio % Related Terms
Harbor Star Shipping Services 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.
Harbor Star Shipping Services Sloan Ratio % Competitor Comparison
For the Marine Shipping subindustry, Harbor Star Shipping Services'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.
Harbor Star Shipping Services Sloan Ratio % vs Transportation Industry
For the Transportation industry and Industrials sector, Harbor Star Shipping Services's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Harbor Star Shipping Services's Sloan Ratio % falls into.
Harbor Star Shipping Services 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.
Harbor Star Shipping Services's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -35.999 (Jun. 2025 ) + 37.228 (Sep. 2025 ) + 1.032 (Dec. 2025 ) + 27.463 (Mar. 2026 ) = ₱30 Mil.
Harbor Star Shipping Services's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 222.922 (Jun. 2025 ) + 320.345 (Sep. 2025 ) + 226.638 (Dec. 2025 ) + 48.319 (Mar. 2026 ) = ₱818 Mil.
Harbor Star Shipping Services's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -113.885 (Jun. 2025 ) + -189.898 (Sep. 2025 ) + -40.014 (Dec. 2025 ) + -83.233 (Mar. 2026 ) = ₱-427 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.
Harbor Star Shipping Services (PHS:TUGS) has a Sloan Ratio % of -5.04% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Harbor Star Shipping Services and its competitors.
Is Harbor Star Shipping Services' Sloan Ratio % too high?
Harbor Star Shipping Services' current Sloan Ratio % is -5.04%. Overall, Harbor Star Shipping Services has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harbor Star Shipping Services' Sloan Ratio % compare to competitors?
Harbor Star Shipping Services' Sloan Ratio % of -5.04% can be compared against companies in the Transportation 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 Transportation company?
A good Sloan Ratio % depends on the Transportation 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 Harbor Star Shipping Services and its competitors. Harbor Star Shipping Services's current Sloan Ratio % is -5.04%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harbor Star Shipping Services stock overvalued right now?
Based on GuruFocus' analysis, Harbor Star Shipping Services (PHS:TUGS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₱0.61, compared to a current price of ₱1.02 — trading 67.2% above its estimated fair value. The current Sloan Ratio % is -5.04%. Harbor Star Shipping Services' overall GF Score™ is 56/100 with 10 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 Harbor Star Shipping Services (PHS:TUGS), the current Sloan Ratio % is -5.04% 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 Harbor Star Shipping Services (PHS:TUGS) Overvalued in 2026?
Based on GuruFocus' analysis, Harbor Star Shipping Services stock appears to be overvalued.
The current stock price of ₱1.02 is trading 67.2% above its estimated GF Value™ of ₱0.61.
GuruFocus considers Harbor Star Shipping Services to be Significantly Overvalued.
Key valuation signals for PHS:TUGS:
Sloan Ratio %: -5.04%
GF Value™: ₱0.61 vs. price of ₱1.02 (67.2% above fair value)
No single metric tells the full story. See the PHS:TUGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harbor Star Shipping Services Business Description
Harbor Star Shipping Services Inc is an integrated maritime service provider. The service lines include harbor assistance, lighterage, towing, ship salvage, marine construction, repair, and maintenance works, wreck removal, firefighting, oil spill abatement and recovery, handling hazardous chemicals, ship and crew management, diving, and underwater marine works. Other marine services include oil and chemical spill response, diving and underwater work, and ship and crew management. The company operates in two segments: Harbor assistance and Renewable energy. It generates maximum revenue from the Harbor assistance segment.
56GF Score
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