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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.
Packaging of America's Sloan Ratio for the quarter that ended in Mar. 2026 was 17.24%.
As of Mar. 2026, Packaging of America has a Sloan Ratio of 17.24%, indicating there is a warning stage of accrual build up.
Packaging of America (STU:PKA) 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, Packaging of America has a Sloan Ratio of 17.24%, indicating there is a warning stage of accrual build up.
Packaging of America Sloan Ratio % Related Terms
Packaging of America Sloan Ratio % Historical Data
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The historical data trend for Packaging of America'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.
For the Packaging & Containers subindustry, Packaging of America'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.
Packaging of America Sloan Ratio % vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Packaging of America's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Packaging of America'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.
Packaging of America's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Packaging of America's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 209.38 (Jun. 2025 ) + 193.319 (Sep. 2025 ) + 86.937 (Dec. 2025 ) + 147.828 (Mar. 2026 ) = €637 Mil.
Packaging of America's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 259.753 (Jun. 2025 ) + 402.314 (Sep. 2025 ) + 381.396 (Dec. 2025 ) + 284.844 (Mar. 2026 ) = €1,328 Mil.
Packaging of America's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -123.808 (Jun. 2025 ) + -1704.341 (Sep. 2025 ) + -243.817 (Dec. 2025 ) + -225.678 (Mar. 2026 ) = €-2,298 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.
Packaging of America (STU:PKA) has a Sloan Ratio % of 17.24% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Packaging of America and its competitors.
Is Packaging of America's Sloan Ratio % too high?
Packaging of America's current Sloan Ratio % is 17.24%. Overall, Packaging of America has a GF Score™ of 89/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Packaging of America's Sloan Ratio % compare to IP and AMCR?
Packaging of America's Sloan Ratio % of 17.24% can be compared against companies in the Packaging & Containers 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 Packaging & Containers company?
A good Sloan Ratio % depends on the Packaging & Containers 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 Packaging of America and its competitors. Packaging of America's current Sloan Ratio % is 17.24%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Packaging of America stock overvalued right now?
Based on GuruFocus' analysis, Packaging of America (STU:PKA) is currently considered Modestly Overvalued. The stock's GF Value™ is €195.42, compared to a current price of €217.80 — trading 11.5% above its estimated fair value. The current Sloan Ratio % is 17.24%. Packaging of America's overall GF Score™ is 89/100 with 7 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 Packaging of America (STU:PKA), the current Sloan Ratio % is 17.24% 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 Packaging of America (STU:PKA) Overvalued in 2026?
Based on GuruFocus' analysis, Packaging of America stock appears to be overvalued.
The current stock price of €217.80 is trading 11.5% above its estimated GF Value™ of €195.42.
GuruFocus considers Packaging of America to be Modestly Overvalued.
Key valuation signals for STU:PKA:
Sloan Ratio %: 17.24%
GF Value™: €195.42 vs. price of €217.80 (11.5% above fair value)
No single metric tells the full story. See the STU:PKA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Packaging Corp. of America is the third-largest containerboard and corrugated packaging manufacturer in the United States. It produces over 5 million tons of containerboard annually. The company's share of the domestic containerboard market is roughly 10%. PCA differentiates itself from larger competitors by focusing on smaller customers and operating with a high degree of flexibility.
89GF Score
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