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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.
Song Hong Garment JSC's Sloan Ratio for the quarter that ended in Mar. 2026 was 29.20%.
As of Mar. 2026, Song Hong Garment JSC has a Sloan Ratio of 29.20%, indicating there is a warning stage of accrual build up.
Song Hong Garment JSC (STC:MSH) 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, Song Hong Garment JSC has a Sloan Ratio of 29.20%, indicating there is a warning stage of accrual build up.
Song Hong Garment JSC Sloan Ratio % Related Terms
Song Hong Garment JSC Sloan Ratio % Historical Data
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The historical data trend for Song Hong Garment JSC'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.
STC:MSH vs RL, LEVI, VFC: Sloan Ratio % Comparison
For the Apparel Manufacturing subindustry, Song Hong Garment JSC'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.
Song Hong Garment JSC Sloan Ratio % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Song Hong Garment JSC's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Song Hong Garment JSC'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.
Song Hong Garment JSC's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Song Hong Garment JSC's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 179956.395 (Jun. 2025 ) + 200704.625 (Sep. 2025 ) + 202993.569 (Dec. 2025 ) + 81659.458 (Mar. 2026 ) = ₫665,314 Mil.
Song Hong Garment JSC's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -23517.132 (Jun. 2025 ) + 534650.518 (Sep. 2025 ) + 92394.02 (Dec. 2025 ) + -275809.49 (Mar. 2026 ) = ₫327,718 Mil.
Song Hong Garment JSC's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -742955.863 (Jun. 2025 ) + -142749.027 (Sep. 2025 ) + 187172.77 (Dec. 2025 ) + -225274.481 (Mar. 2026 ) = ₫-923,807 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.
Song Hong Garment JSC (STC:MSH) has a Sloan Ratio % of 29.20% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Song Hong Garment JSC and its competitors.
Is Song Hong Garment JSC's Sloan Ratio % too high?
Song Hong Garment JSC's current Sloan Ratio % is 29.20%. Overall, Song Hong Garment JSC has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Song Hong Garment JSC's Sloan Ratio % compare to RL and LEVI?
Song Hong Garment JSC's Sloan Ratio % of 29.20% can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?
A good Sloan Ratio % depends on the Manufacturing - Apparel & Accessories 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 Song Hong Garment JSC and its competitors. Song Hong Garment JSC's current Sloan Ratio % is 29.20%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Song Hong Garment JSC stock overvalued right now?
Based on GuruFocus' analysis, Song Hong Garment JSC (STC:MSH) is currently considered Modestly Undervalued. The stock's GF Value™ is ₫34,381.41, compared to a current price of ₫30,900.00 — trading 10.1% below its estimated fair value. The current Sloan Ratio % is 29.20%. Song Hong Garment JSC's overall GF Score™ is 80/100 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 Song Hong Garment JSC (STC:MSH), the current Sloan Ratio % is 29.20% 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 Song Hong Garment JSC (STC:MSH) Overvalued in 2026?
Based on GuruFocus' analysis, Song Hong Garment JSC stock appears to be undervalued.
The current stock price of ₫30,900.00 is trading 10.1% below its estimated GF Value™ of ₫34,381.41.
GuruFocus considers Song Hong Garment JSC to be Modestly Undervalued.
Key valuation signals for STC:MSH:
Sloan Ratio %: 29.20%
GF Value™: ₫34,381.41 vs. price of ₫30,900.00 (10.1% below fair value)
No single metric tells the full story. See the STC:MSH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Song Hong Garment JSC is a Vietnam-based manufacturer and distributor of garment and textile products. The company has a market presence in Vietnam and the international market. Its product offerings include bedding and all lines of clothing for men, women, and children. the principal activities includes Producing clothes for domestic market; Producing carpets, blankets; Trading on industrial products for domestic market; Sewing clothes (except for clothes made of animal leather and feather); Trading on other kinds of materials, equipments and spare parts for the garment-textile industry; Producing knitted clothes; Wholesaler of fabrics, clothes and shoes; Trading on domestic cigarettes, alcohol and cosmetics; Warehousing and storing services; and Others.
80GF Score
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