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.
As of Mar. 2026, Pha Lai Thermal Power JSC has a Sloan Ratio of 2.01%, indicating the company is in the safe zone and there is no funny business with accruals.
Pha Lai Thermal Power JSC (STC:PPC) 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, Pha Lai Thermal Power JSC has a Sloan Ratio of 2.01%, indicating the company is in the safe zone and there is no funny business with accruals.
Pha Lai Thermal Power JSC Sloan Ratio % Related Terms
Pha Lai Thermal Power JSC 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.
STC:PPC vs CEG, VST, NRG: Sloan Ratio % Comparison
For the Utilities - Independent Power Producers subindustry, Pha Lai Thermal Power 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.
Pha Lai Thermal Power JSC Sloan Ratio % vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Pha Lai Thermal Power JSC's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Pha Lai Thermal Power JSC's Sloan Ratio % falls into.
Pha Lai Thermal Power JSC 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.
Pha Lai Thermal Power JSC's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Pha Lai Thermal Power JSC's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 6091.846 (Jun. 2025 ) + -14287.219 (Sep. 2025 ) + 125725.415 (Dec. 2025 ) + 95731.506 (Mar. 2026 ) = ₫213,262 Mil.
Pha Lai Thermal Power JSC's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -926.428 (Jun. 2025 ) + 27380.032 (Sep. 2025 ) + 342519.585 (Dec. 2025 ) + -343821.486 (Mar. 2026 ) = ₫25,152 Mil.
Pha Lai Thermal Power JSC's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 13625.403 (Jun. 2025 ) + 30517.656 (Sep. 2025 ) + -24811.94 (Dec. 2025 ) + 59608.239 (Mar. 2026 ) = ₫78,939 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.
Pha Lai Thermal Power JSC (STC:PPC) has a Sloan Ratio % of 2.01% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Pha Lai Thermal Power JSC and its competitors.
Is Pha Lai Thermal Power JSC's Sloan Ratio % too high?
Pha Lai Thermal Power JSC's current Sloan Ratio % is 2.01%. Overall, Pha Lai Thermal Power JSC has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pha Lai Thermal Power JSC's Sloan Ratio % compare to CEG and VST?
Pha Lai Thermal Power JSC's Sloan Ratio % of 2.01% can be compared against companies in the Utilities - Independent Power Producers 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 Utilities - Independent Power Producers company?
A good Sloan Ratio % depends on the Utilities - Independent Power Producers 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 Pha Lai Thermal Power JSC and its competitors. Pha Lai Thermal Power JSC's current Sloan Ratio % is 2.01%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pha Lai Thermal Power JSC stock overvalued right now?
Based on GuruFocus' analysis, Pha Lai Thermal Power JSC (STC:PPC) is currently considered Modestly Undervalued. The stock's GF Value™ is ₫11,880.56, compared to a current price of ₫9,480.00 — trading 20.2% below its estimated fair value. The current Sloan Ratio % is 2.01%. Pha Lai Thermal Power JSC's overall GF Score™ is 75/100 with 4 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 Pha Lai Thermal Power JSC (STC:PPC), the current Sloan Ratio % is 2.01% 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 Pha Lai Thermal Power JSC (STC:PPC) Overvalued in 2026?
Based on GuruFocus' analysis, Pha Lai Thermal Power JSC stock appears to be undervalued.
The current stock price of ₫9,480.00 is trading 20.2% below its estimated GF Value™ of ₫11,880.56.
GuruFocus considers Pha Lai Thermal Power JSC to be Modestly Undervalued.
Key valuation signals for STC:PPC:
Sloan Ratio %: 2.01%
GF Value™: ₫11,880.56 vs. price of ₫9,480.00 (20.2% below fair value)
No single metric tells the full story. See the STC:PPC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pha Lai Thermal Power JSC operates as a coal-fired power plant in Vietnam. It is engaged in the operation, maintenance, and management of the thermal power plant in Hai Duong Province for electricity generation and distribution.
75GF Score
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Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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