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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.
PChome Online's Sloan Ratio for the quarter that ended in Jun. 2026 was 8.92%.
As of Jun. 2026, PChome Online has a Sloan Ratio of 8.92%, indicating the company is in the safe zone and there is no funny business with accruals.
PChome Online (ROCO:8044) 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, PChome Online has a Sloan Ratio of 8.92%, indicating the company is in the safe zone and there is no funny business with accruals.
PChome Online Sloan Ratio % Related Terms
PChome Online Sloan Ratio % Historical Data
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The historical data trend for PChome Online'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.
ROCO:8044 vs AMZN, BABA, PDD: Sloan Ratio % Comparison
For the Internet Retail subindustry, PChome Online'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.
PChome Online Sloan Ratio % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, PChome Online's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PChome Online'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.
PChome Online's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
PChome Online's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was -134.08 (Sep. 2025 ) + -416.624 (Dec. 2025 ) + -79.738 (Mar. 2026 ) + -135.984 (Jun. 2026 ) = NT$-766 Mil.
PChome Online's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -583.972 (Sep. 2025 ) + -755.965 (Dec. 2025 ) + -126.566 (Mar. 2026 ) + 341.781 (Jun. 2026 ) = NT$-1,125 Mil.
PChome Online's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -1274.595 (Sep. 2025 ) + -1161.125 (Dec. 2025 ) + 82.448 (Mar. 2026 ) + -162.582 (Jun. 2026 ) = NT$-2,516 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.
PChome Online (ROCO:8044) has a Sloan Ratio % of 8.92% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PChome Online and its competitors.
Is PChome Online's Sloan Ratio % too high?
PChome Online's current Sloan Ratio % is 8.92%. Overall, PChome Online has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PChome Online's Sloan Ratio % compare to AMZN and BABA?
PChome Online's Sloan Ratio % of 8.92% can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good Sloan Ratio % depends on the Retail - Cyclical 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 PChome Online and its competitors. PChome Online's current Sloan Ratio % is 8.92%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PChome Online stock overvalued right now?
Based on GuruFocus' analysis, PChome Online (ROCO:8044) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$25.64, compared to a current price of NT$23.10 — trading 9.9% below its estimated fair value. The current Sloan Ratio % is 8.92%. PChome Online's overall GF Score™ is 64/100 with 8 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 PChome Online (ROCO:8044), the current Sloan Ratio % is 8.92% 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 PChome Online (ROCO:8044) Overvalued in 2026?
Based on GuruFocus' analysis, PChome Online stock appears to be undervalued.
The current stock price of NT$23.10 is trading 9.9% below its estimated GF Value™ of NT$25.64.
GuruFocus considers PChome Online to be Modestly Undervalued.
Key valuation signals for ROCO:8044:
Sloan Ratio %: 8.92%
GF Value™: NT$25.64 vs. price of NT$23.10 (9.9% below fair value)
No single metric tells the full story. See the ROCO:8044 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PChome Online Inc is an E-commerce service provider. The primary business scope of the Company and its subsidiaries (together referred to as the Group) includes software design, digital information supply, data processing, and wholesaling and retailing of office machinery, equipment, and information software. The Group's reportable segments are the E-Commerce-Sales segment, Marketplace segment, Fintech segment, and other segment. The E-Commerce-Sales segment is the revenue collection from the online platform from the sale of goods. The other segment is the revenue generated from the online platform to provide search engine services, and telecommunication and communication services. Geographically, in Taiwan only.
64GF Score
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