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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.
Patriot National Bancorp (NAS:PNBK) 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 Jun. 2026, Patriot National Bancorp has a Sloan Ratio of 35.19%, indicating there is a warning stage of accrual build up.
Patriot National Bancorp Sloan Ratio % Related Terms
Patriot National Bancorp 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.
PNBK vs MPCB, BLHK, BOTJ: Sloan Ratio % Comparison
For the Banks - Regional subindustry, Patriot National Bancorp'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.
Patriot National Bancorp Sloan Ratio % vs Banks Industry
For the Banks industry and Financial Services sector, Patriot National Bancorp's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Patriot National Bancorp's Sloan Ratio % falls into.
Patriot National Bancorp 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.
Patriot National Bancorp's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Patriot National Bancorp's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was -2.657 (Sep. 2025 ) + -2.275 (Dec. 2025 ) + -1.755 (Mar. 2026 ) + 0.143 (Jun. 2026 ) = $-6.54 Mil.
Patriot National Bancorp's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -5.238 (Sep. 2025 ) + -4.042 (Dec. 2025 ) + -2.912 (Mar. 2026 ) + -5.633 (Jun. 2026 ) = $-17.83 Mil.
Patriot National Bancorp's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -18.11 (Sep. 2025 ) + -123.955 (Dec. 2025 ) + -186.167 (Mar. 2026 ) + -124.182 (Jun. 2026 ) = $-452.41 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.
Patriot National Bancorp (PNBK) has a Sloan Ratio % of 35.19% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Patriot National Bancorp and its competitors.
Is Patriot National Bancorp's Sloan Ratio % too high?
Patriot National Bancorp's current Sloan Ratio % is 35.19%. Overall, Patriot National Bancorp has a GF Score™ of 37/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Patriot National Bancorp's Sloan Ratio % compare to MPCB and BLHK?
Patriot National Bancorp's Sloan Ratio % of 35.19% can be compared against companies in the Banks 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 Banks company?
A good Sloan Ratio % depends on the Banks 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 Patriot National Bancorp and its competitors. Patriot National Bancorp's current Sloan Ratio % is 35.19%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Patriot National Bancorp stock overvalued right now?
Based on GuruFocus' analysis, Patriot National Bancorp (PNBK) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.14, compared to a current price of $1.12 — trading 700% above its estimated fair value. The current Sloan Ratio % is 35.19%. Patriot National Bancorp's overall GF Score™ is 37/100 with 1 warning sign 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 Patriot National Bancorp (PNBK), the current Sloan Ratio % is 35.19% as of Jun. 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 Patriot National Bancorp (PNBK) Overvalued in 2026?
Based on GuruFocus' analysis, Patriot National Bancorp stock appears to be overvalued.
The current stock price of $1.12 is trading 700% above its estimated GF Value™ of $0.14.
GuruFocus considers Patriot National Bancorp to be Significantly Overvalued.
Key valuation signals for PNBK:
Sloan Ratio %: 35.19%
GF Value™: $0.14 vs. price of $1.12 (700% above fair value)
No single metric tells the full story. See the PNBK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Patriot National Bancorp Inc provides consumer and commercial banking services to individuals, small and medium-sized businesses, professionals, and municipalities in Fairfield and New Haven Counties in Connecticut and Westchester County, New York. Its products include checking accounts, savings accounts, money market accounts, time certificates of deposit, and individual retirement accounts. The Bank's lending portfolio is comprised of commercial mortgage and construction loans, commercial loans, home improvement loans, home equity lines of credit, and other personal loans. In addition, the Bank offers bank checks, money orders, automated teller machines, interactive teller machines, online and mobile banking, credit cards, and debit cards.
37GF Score
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