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.
Victorias Milling Co's Sloan Ratio for the quarter that ended in Feb. 2026 was 4.23%.
As of Feb. 2026, Victorias Milling Co has a Sloan Ratio of 4.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Victorias Milling Co (PHS:VMC) 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 Feb. 2026, Victorias Milling Co has a Sloan Ratio of 4.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Victorias Milling Co Sloan Ratio % Related Terms
Victorias Milling Co Sloan Ratio % Historical Data
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The historical data trend for Victorias Milling Co'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.
PHS:VMC vs MDLZ, HSY, TR: Sloan Ratio % Comparison
For the Confectioners subindustry, Victorias Milling Co'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.
Victorias Milling Co Sloan Ratio % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Victorias Milling Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Victorias Milling Co'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.
Victorias Milling Co's Sloan Ratio for the fiscal year that ended in Aug. 2025 is calculated as
Victorias Milling Co's Net Income for the trailing twelve months (TTM) ended in Feb. 2026 was 395.484 (May. 2025 ) + 90.087 (Aug. 2025 ) + 162.282 (Nov. 2025 ) + 511.463 (Feb. 2026 ) = ₱1,159 Mil.
Victorias Milling Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Feb. 2026 was 691.231 (May. 2025 ) + 462.056 (Aug. 2025 ) + 114.778 (Nov. 2025 ) + 606.172 (Feb. 2026 ) = ₱1,874 Mil.
Victorias Milling Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Feb. 2026 was 173.171 (May. 2025 ) + -746.608 (Aug. 2025 ) + -109.286 (Nov. 2025 ) + -728.599 (Feb. 2026 ) = ₱-1,411 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.
Victorias Milling Co (PHS:VMC) has a Sloan Ratio % of 4.23% as of Feb. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Victorias Milling Co and its competitors.
Is Victorias Milling Co's Sloan Ratio % too high?
Victorias Milling Co's current Sloan Ratio % is 4.23%. Overall, Victorias Milling Co has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Victorias Milling Co's Sloan Ratio % compare to MDLZ and HSY?
Victorias Milling Co's Sloan Ratio % of 4.23% can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Sloan Ratio % depends on the Consumer Packaged Goods 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 Victorias Milling Co and its competitors. Victorias Milling Co's current Sloan Ratio % is 4.23%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Victorias Milling Co stock overvalued right now?
Based on GuruFocus' analysis, Victorias Milling Co (PHS:VMC) is currently considered Fairly Valued. The stock's GF Value™ is ₱1.99, compared to a current price of ₱1.90 — trading 4.5% below its estimated fair value. The current Sloan Ratio % is 4.23%. Victorias Milling Co's overall GF Score™ is 93/100 with 4 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 Victorias Milling Co (PHS:VMC), the current Sloan Ratio % is 4.23% as of Feb. 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 Victorias Milling Co (PHS:VMC) Overvalued in 2026?
Based on GuruFocus' analysis, Victorias Milling Co stock appears to be undervalued.
The current stock price of ₱1.90 is trading 4.5% below its estimated GF Value™ of ₱1.99.
GuruFocus considers Victorias Milling Co to be Fairly Valued.
Key valuation signals for PHS:VMC:
Sloan Ratio %: 4.23%
GF Value™: ₱1.99 vs. price of ₱1.90 (4.5% below fair value)
No single metric tells the full story. See the PHS:VMC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Victorias Milling Co Inc is a Philippines-based company engaged in sugar manufacturing. The company offers milling and tolling services to planters and sells raw sugar, refined sugar, molasses, and renewable energy. The company operates through business segments that include Sugar Milling, Renewable Energy Operations, and Others. The Sugar Milling segment generates maximum revenue for the company.
93GF Score
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