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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, PT Indah Kiat Pulp & Paper Tbk has a Sloan Ratio of 15.42%, indicating there is a warning stage of accrual build up.
PT Indah Kiat Pulp & Paper Tbk (OTCPK:PIKQF) 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, PT Indah Kiat Pulp & Paper Tbk has a Sloan Ratio of 15.42%, indicating there is a warning stage of accrual build up.
PT Indah Kiat Pulp & Paper Tbk Sloan Ratio % Related Terms
PT Indah Kiat Pulp & Paper Tbk 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.
PT Indah Kiat Pulp & Paper Tbk Sloan Ratio % Chart
For the Paper & Paper Products subindustry, PT Indah Kiat Pulp & Paper Tbk'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.
PT Indah Kiat Pulp & Paper Tbk Sloan Ratio % vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, PT Indah Kiat Pulp & Paper Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Indah Kiat Pulp & Paper Tbk's Sloan Ratio % falls into.
PT Indah Kiat Pulp & Paper Tbk 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.
PT Indah Kiat Pulp & Paper Tbk's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 23.592 (Jun. 2025 ) + 162.209 (Sep. 2025 ) + 127.427 (Dec. 2025 ) + 156.113 (Mar. 2026 ) = $469 Mil.
PT Indah Kiat Pulp & Paper Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 119.773 (Jun. 2025 ) + 359.397 (Sep. 2025 ) + 182.716 (Dec. 2025 ) + 166.202 (Mar. 2026 ) = $828 Mil.
PT Indah Kiat Pulp & Paper Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -385.074 (Jun. 2025 ) + -301.693 (Sep. 2025 ) + -705.413 (Dec. 2025 ) + -918.089 (Mar. 2026 ) = $-2,310 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.
PT Indah Kiat Pulp & Paper Tbk (PIKQF) has a Sloan Ratio % of 15.42% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Indah Kiat Pulp & Paper Tbk and its competitors.
Is PT Indah Kiat Pulp & Paper Tbk's Sloan Ratio % too high?
PT Indah Kiat Pulp & Paper Tbk's current Sloan Ratio % is 15.42%. Overall, PT Indah Kiat Pulp & Paper Tbk has a GF Score™ of 97/100, reflecting its overall financial health beyond just this single metric.
How does PT Indah Kiat Pulp & Paper Tbk's Sloan Ratio % compare to SLVM?
PT Indah Kiat Pulp & Paper Tbk's Sloan Ratio % of 15.42% can be compared against companies in the Forest Products 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 Forest Products company?
A good Sloan Ratio % depends on the Forest Products 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 PT Indah Kiat Pulp & Paper Tbk and its competitors. PT Indah Kiat Pulp & Paper Tbk's current Sloan Ratio % is 15.42%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Indah Kiat Pulp & Paper Tbk stock overvalued right now?
PT Indah Kiat Pulp & Paper Tbk (PIKQF) has a current Sloan Ratio % of 15.42%. The stock's GF Value™ is $0.68, compared to a current price of $0.53 — trading 22% below its estimated fair value. The current Sloan Ratio % is 15.42%. PT Indah Kiat Pulp & Paper Tbk's overall GF Score™ is 97/100 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 PT Indah Kiat Pulp & Paper Tbk (PIKQF), the current Sloan Ratio % is 15.42% 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 PT Indah Kiat Pulp & Paper Tbk (PIKQF) Overvalued in 2026?
Based on GuruFocus' analysis, PT Indah Kiat Pulp & Paper Tbk stock appears to be undervalued.
The current stock price of $0.53 is trading 22% below its estimated GF Value™ of $0.68.
Key valuation signals for PIKQF:
Sloan Ratio %: 15.42%
GF Value™: $0.68 vs. price of $0.53 (22% below fair value)
No single metric tells the full story. See the PIKQF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Indah Kiat Pulp & Paper Tbk Business Description
PT Indah Kiat Pulp & Paper Tbk manufactures paper, pulp, and packaging paper. The company's operating segments are: cultural paper and pulp, which derives maximum revenue; and industrial paper and tissue products. Its cultural paper and pulp products segment consists of cultural paper and other related cultural paper products and pulp. The industrial paper and tissue products segment consists of linerboard, corrugating medium, corrugated shipping containers, and boxboard. Geographically, the company generates maximum revenue from Indonesia, and the rest from Asia, Europe, America, the Middle East, Africa, and Australia.
97GF Score
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