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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.
When sloan ratio (27.77)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
As of Mar. 2026, Ho Chi Minh City Securities has a Sloan Ratio of 25.66%, indicating earnings are more likely to be made up of accruals.
Ho Chi Minh City Securities (STC:HCM) 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, Ho Chi Minh City Securities has a Sloan Ratio of 25.66%, indicating earnings are more likely to be made up of accruals.
Ho Chi Minh City Securities Sloan Ratio % Related Terms
Ho Chi Minh City Securities 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 Capital Markets subindustry, Ho Chi Minh City Securities'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.
Ho Chi Minh City Securities Sloan Ratio % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Ho Chi Minh City Securities's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Ho Chi Minh City Securities's Sloan Ratio % falls into.
Ho Chi Minh City Securities 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.
Ho Chi Minh City Securities's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 192370.146 (Jun. 2025 ) + 440536.126 (Sep. 2025 ) + 318989.017 (Dec. 2025 ) + 290720.448 (Mar. 2026 ) = ₫1,242,616 Mil.
Ho Chi Minh City Securities's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -4805311.554 (Jun. 2025 ) + -107388.183 (Sep. 2025 ) + -7629302.144 (Dec. 2025 ) + 3416271.106 (Mar. 2026 ) = ₫-9,125,731 Mil.
Ho Chi Minh City Securities's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -4531.433 (Jun. 2025 ) + -1259.785 (Sep. 2025 ) + -7686.324 (Dec. 2025 ) + -2991.694 (Mar. 2026 ) = ₫-16,469 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.
Ho Chi Minh City Securities (STC:HCM) has a Sloan Ratio % of 25.66% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Ho Chi Minh City Securities and its competitors.
Is Ho Chi Minh City Securities' Sloan Ratio % too high?
Ho Chi Minh City Securities' current Sloan Ratio % is 25.66%. Overall, Ho Chi Minh City Securities has a GF Score™ of 62/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ho Chi Minh City Securities' Sloan Ratio % compare to MS and GS?
Ho Chi Minh City Securities' Sloan Ratio % of 25.66% can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Sloan Ratio % depends on the Capital Markets 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 Ho Chi Minh City Securities and its competitors. Ho Chi Minh City Securities's current Sloan Ratio % is 25.66%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ho Chi Minh City Securities stock overvalued right now?
Based on GuruFocus' analysis, Ho Chi Minh City Securities (STC:HCM) is currently considered Fairly Valued. The stock's GF Value™ is ₫24,289.56, compared to a current price of ₫25,750.00 — trading 6% above its estimated fair value. The current Sloan Ratio % is 25.66%. Ho Chi Minh City Securities' overall GF Score™ is 62/100 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 Ho Chi Minh City Securities (STC:HCM), the current Sloan Ratio % is 25.66% 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 Ho Chi Minh City Securities (STC:HCM) Overvalued in 2026?
Based on GuruFocus' analysis, Ho Chi Minh City Securities stock appears to be overvalued.
The current stock price of ₫25,750.00 is trading 6% above its estimated GF Value™ of ₫24,289.56.
GuruFocus considers Ho Chi Minh City Securities to be Fairly Valued.
Key valuation signals for STC:HCM:
Sloan Ratio %: 25.66%
GF Value™: ₫24,289.56 vs. price of ₫25,750.00 (6% above fair value)
No single metric tells the full story. See the STC:HCM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ho Chi Minh City Securities Corporation is a professional securities brokerage firm in Vietnam. It provides a comprehensive suite of financial services to institutional & private clients. The company focuses on professional investment advisory services backed by a highly recognized research team.
62GF Score
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