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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 Merdeka Copper Gold Tbk has a Sloan Ratio of 3.89%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Merdeka Copper Gold Tbk (OTCPK:PMCGF) 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 Merdeka Copper Gold Tbk has a Sloan Ratio of 3.89%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Merdeka Copper Gold Tbk Sloan Ratio % Related Terms
PT Merdeka Copper Gold 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 Merdeka Copper Gold Tbk Sloan Ratio % Competitor Comparison
For the Other Industrial Metals & Mining subindustry, PT Merdeka Copper Gold 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 Merdeka Copper Gold Tbk Sloan Ratio % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, PT Merdeka Copper Gold Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Merdeka Copper Gold Tbk's Sloan Ratio % falls into.
PT Merdeka Copper Gold 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 Merdeka Copper Gold Tbk's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -12.065 (Jun. 2025 ) + -18.957 (Sep. 2025 ) + -27.303 (Dec. 2025 ) + 57.456 (Mar. 2026 ) = $-1 Mil.
PT Merdeka Copper Gold Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 127.897 (Jun. 2025 ) + -8.618 (Sep. 2025 ) + 89.416 (Dec. 2025 ) + 156.821 (Mar. 2026 ) = $366 Mil.
PT Merdeka Copper Gold Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -115.858 (Jun. 2025 ) + -161.546 (Sep. 2025 ) + -212.798 (Dec. 2025 ) + -110.617 (Mar. 2026 ) = $-601 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 Merdeka Copper Gold Tbk (PMCGF) has a Sloan Ratio % of 3.89% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Merdeka Copper Gold Tbk and its competitors.
Is PT Merdeka Copper Gold Tbk's Sloan Ratio % too high?
PT Merdeka Copper Gold Tbk's current Sloan Ratio % is 3.89%. Overall, PT Merdeka Copper Gold Tbk has a GF Score™ of 93/100, reflecting its overall financial health beyond just this single metric.
How does PT Merdeka Copper Gold Tbk's Sloan Ratio % compare to competitors?
PT Merdeka Copper Gold Tbk's Sloan Ratio % of 3.89% 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 PT Merdeka Copper Gold Tbk and its competitors. PT Merdeka Copper Gold Tbk's current Sloan Ratio % is 3.89%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Merdeka Copper Gold Tbk stock overvalued right now?
PT Merdeka Copper Gold Tbk (PMCGF) has a current Sloan Ratio % of 3.89%. The stock's GF Value™ is $0.13, compared to a current price of $0.10 — trading 23.1% below its estimated fair value. The current Sloan Ratio % is 3.89%. PT Merdeka Copper Gold Tbk's overall GF Score™ is 93/100 with 6 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 Merdeka Copper Gold Tbk (PMCGF), the current Sloan Ratio % is 3.89% 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 Merdeka Copper Gold Tbk (PMCGF) Overvalued in 2026?
Based on GuruFocus' analysis, PT Merdeka Copper Gold Tbk stock appears to be undervalued.
The current stock price of $0.10 is trading 23.1% below its estimated GF Value™ of $0.13.
Key valuation signals for PMCGF:
Sloan Ratio %: 3.89%
GF Value™: $0.13 vs. price of $0.10 (23.1% below fair value)
No single metric tells the full story. See the PMCGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressJalan Jenderal Sudirman Kav. 52-53, Treasury Tower, 67th-68th Floor, District 8 SCBD Lot. 28, Senayan, Kebayoran Baru, South Jakarta, Jakarta, IDN, 12190
PT Merdeka Copper Gold Tbk is a holding company. Along with its subsidiary, the company engages in the field of mining and other management consultancy activities. The company's gold projects consist of the Tujuh Bukit Gold Mine and the Pani Gold Project. The copper projects include Wetar Copper Mine and Tujuh Bukit Copper Project. The Nickel project comprises SCM Mine, RKEF Smelters, Nickel Matte Converter, AIM Project, HPAL Facilities, and IKIP. The majority of the company's revenue is generated by the Nickel segment.
93GF Score
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