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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.
Petronas Gas Bhd's Sloan Ratio for the quarter that ended in Mar. 2026 was 5.99%.
As of Mar. 2026, Petronas Gas Bhd has a Sloan Ratio of 5.99%, indicating the company is in the safe zone and there is no funny business with accruals.
Petronas Gas Bhd (OTCPK:PNAGF) 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, Petronas Gas Bhd has a Sloan Ratio of 5.99%, indicating the company is in the safe zone and there is no funny business with accruals.
Petronas Gas Bhd Sloan Ratio % Related Terms
Petronas Gas Bhd Sloan Ratio % Historical Data
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The historical data trend for Petronas Gas Bhd'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.
For the Oil & Gas Integrated subindustry, Petronas Gas Bhd'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.
Petronas Gas Bhd Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Petronas Gas Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Petronas Gas Bhd'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.
Petronas Gas Bhd's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Petronas Gas Bhd's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 106.226 (Jun. 2025 ) + 105.53 (Sep. 2025 ) + 89.015 (Dec. 2025 ) + 111.071 (Mar. 2026 ) = $412 Mil.
Petronas Gas Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 190.294 (Jun. 2025 ) + 224.465 (Sep. 2025 ) + 156.569 (Dec. 2025 ) + 158.914 (Mar. 2026 ) = $730 Mil.
Petronas Gas Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -116.428 (Jun. 2025 ) + -180.389 (Sep. 2025 ) + -148.584 (Dec. 2025 ) + -170.92 (Mar. 2026 ) = $-616 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.
Petronas Gas Bhd (PNAGF) has a Sloan Ratio % of 5.99% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Petronas Gas Bhd and its competitors.
Is Petronas Gas Bhd's Sloan Ratio % too high?
Petronas Gas Bhd's current Sloan Ratio % is 5.99%. Overall, Petronas Gas Bhd has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Petronas Gas Bhd's Sloan Ratio % compare to XOM and CVX?
Petronas Gas Bhd's Sloan Ratio % of 5.99% can be compared against companies in the Oil & Gas 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 an Oil & Gas company?
A good Sloan Ratio % depends on the Oil & Gas 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 Petronas Gas Bhd and its competitors. Petronas Gas Bhd's current Sloan Ratio % is 5.99%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Petronas Gas Bhd stock overvalued right now?
Based on GuruFocus' analysis, Petronas Gas Bhd (PNAGF) is currently considered Modestly Overvalued. The stock's GF Value™ is $3.92, compared to a current price of $4.45 — trading 13.5% above its estimated fair value. The current Sloan Ratio % is 5.99%. Petronas Gas Bhd's overall GF Score™ is 82/100 with 5 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 Petronas Gas Bhd (PNAGF), the current Sloan Ratio % is 5.99% 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 Petronas Gas Bhd (PNAGF) Overvalued in 2026?
Based on GuruFocus' analysis, Petronas Gas Bhd stock appears to be overvalued.
The current stock price of $4.45 is trading 13.5% above its estimated GF Value™ of $3.92.
GuruFocus considers Petronas Gas Bhd to be Modestly Overvalued.
Key valuation signals for PNAGF:
Sloan Ratio %: 5.99%
GF Value™: $3.92 vs. price of $4.45 (13.5% above fair value)
No single metric tells the full story. See the PNAGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Petronas Gas Bhd is a Malaysian gas infrastructure and utilities company, of which Malaysia's nationalized oil corporation, PETRONAS, holds a majority interest. Petronas Gas segments its primary operations into Gas Processing, Gas Transportation, Utilities, and Regasification businesses. While each of these contributes significantly to the company's total revenue, its Utilities and Gas Processing units combine to generate the majority. In Gas Processing, Petronas Gas receives processing fees under multi-year contracts by processing natural gas piped offshore for its parent company, PETRONAS. The Gas Transportation business encompasses the transmission of offshore natural gas through pipelines to customers in Malaysia and Singapore under multi-year agreements with PETRONAS.
82GF Score
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