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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.
Pioneer Power Solutions (NAS:PPSI) 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, Pioneer Power Solutions has a Sloan Ratio of 13.29%, indicating there is a warning stage of accrual build up.
Pioneer Power Solutions Sloan Ratio % Related Terms
Pioneer Power Solutions 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.
For the Electrical Equipment & Parts subindustry, Pioneer Power Solutions'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.
Pioneer Power Solutions Sloan Ratio % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Pioneer Power Solutions's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Pioneer Power Solutions'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.
Pioneer Power Solutions's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Pioneer Power Solutions's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -1.328 (Jun. 2025 ) + -2.35 (Sep. 2025 ) + -1.392 (Dec. 2025 ) + -2.508 (Mar. 2026 ) = $-7.58 Mil.
Pioneer Power Solutions's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -5.465 (Jun. 2025 ) + -0.817 (Sep. 2025 ) + -1.038 (Dec. 2025 ) + -0.887 (Mar. 2026 ) = $-8.21 Mil.
Pioneer Power Solutions's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -2.345 (Jun. 2025 ) + 0.189 (Sep. 2025 ) + -1.145 (Dec. 2025 ) + -0.459 (Mar. 2026 ) = $-3.76 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.
Pioneer Power Solutions (PPSI) has a Sloan Ratio % of 13.29% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Pioneer Power Solutions and its competitors.
Is Pioneer Power Solutions' Sloan Ratio % too high?
Pioneer Power Solutions' current Sloan Ratio % is 13.29%. Overall, Pioneer Power Solutions has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pioneer Power Solutions' Sloan Ratio % compare to OESX and GWH?
Pioneer Power Solutions' Sloan Ratio % of 13.29% can be compared against companies in the Industrial 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 an Industrial Products company?
A good Sloan Ratio % depends on the Industrial 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 Pioneer Power Solutions and its competitors. Pioneer Power Solutions's current Sloan Ratio % is 13.29%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pioneer Power Solutions stock overvalued right now?
Based on GuruFocus' analysis, Pioneer Power Solutions (PPSI) is currently considered Modestly Undervalued. The stock's GF Value™ is $3.57, compared to a current price of $2.91 — trading 18.5% below its estimated fair value. The current Sloan Ratio % is 13.29%. Pioneer Power Solutions' overall GF Score™ is 74/100 with 3 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 Pioneer Power Solutions (PPSI), the current Sloan Ratio % is 13.29% 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 Pioneer Power Solutions (PPSI) Overvalued in 2026?
Based on GuruFocus' analysis, Pioneer Power Solutions stock appears to be undervalued.
The current stock price of $2.91 is trading 18.5% below its estimated GF Value™ of $3.57.
GuruFocus considers Pioneer Power Solutions to be Modestly Undervalued.
Key valuation signals for PPSI:
Sloan Ratio %: 13.29%
GF Value™: $3.57 vs. price of $2.91 (18.5% below fair value)
No single metric tells the full story. See the PPSI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pioneer Power Solutions Inc designs, manufactures, integrates, services, and sells distributed energy resources, on-site and mobile power generation equipment, and a platform of mobile electric vehicle (EV) charging solutions. Its principal products and services include custom-engineered electrical transformers, switchgear and engine-generator sets and controls, complemented by a national field-service network to maintain and repair power generation assets. The Company launched two new product platforms namely, PRYMUS, a new, mobile on-site power system concentrating on customers with requirements of 1-10 megawatts of mobile power and PowerCore, a residential and small commercial based primary generator system integrating a DC fast charger into one solution.
74GF Score
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