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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.
As of Mar. 2026, Thoresen Thai Agencies PCL has a Sloan Ratio of -9.54%, indicating the company is in the safe zone and there is no funny business with accruals.
Thoresen Thai Agencies PCL (OTCPK:THAFF) 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, Thoresen Thai Agencies PCL has a Sloan Ratio of -9.54%, indicating the company is in the safe zone and there is no funny business with accruals.
Thoresen Thai Agencies PCL Sloan Ratio % Related Terms
Thoresen Thai Agencies PCL 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 Conglomerates subindustry, Thoresen Thai Agencies PCL'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.
Thoresen Thai Agencies PCL Sloan Ratio % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Thoresen Thai Agencies PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Thoresen Thai Agencies PCL's Sloan Ratio % falls into.
Thoresen Thai Agencies PCL 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.
Thoresen Thai Agencies PCL's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 2.765 (Jun. 2025 ) + 15.733 (Sep. 2025 ) + 2.237 (Dec. 2025 ) + 6.223 (Mar. 2026 ) = $27.0 Mil.
Thoresen Thai Agencies PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 13.288 (Jun. 2025 ) + -3.161 (Sep. 2025 ) + 105.258 (Dec. 2025 ) + 44.637 (Mar. 2026 ) = $160.0 Mil.
Thoresen Thai Agencies PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -31.19 (Jun. 2025 ) + 44.944 (Sep. 2025 ) + 6.977 (Dec. 2025 ) + 4.07 (Mar. 2026 ) = $24.8 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.
Thoresen Thai Agencies PCL (THAFF) has a Sloan Ratio % of -9.54% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Thoresen Thai Agencies PCL and its competitors.
Is Thoresen Thai Agencies PCL's Sloan Ratio % too high?
Thoresen Thai Agencies PCL's current Sloan Ratio % is -9.54%. Overall, Thoresen Thai Agencies PCL has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does Thoresen Thai Agencies PCL's Sloan Ratio % compare to MMM and HON?
Thoresen Thai Agencies PCL's Sloan Ratio % of -9.54% can be compared against companies in the Conglomerates 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 Conglomerates company?
A good Sloan Ratio % depends on the Conglomerates 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 Thoresen Thai Agencies PCL and its competitors. Thoresen Thai Agencies PCL's current Sloan Ratio % is -9.54%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thoresen Thai Agencies PCL stock overvalued right now?
Thoresen Thai Agencies PCL (THAFF) has a current Sloan Ratio % of -9.54%. The stock's GF Value™ is $0.21, compared to a current price of $0.20 — trading 4.8% below its estimated fair value. The current Sloan Ratio % is -9.54%. Thoresen Thai Agencies PCL's overall GF Score™ is 79/100 with 6 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 Thoresen Thai Agencies PCL (THAFF), the current Sloan Ratio % is -9.54% 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 Thoresen Thai Agencies PCL (THAFF) Overvalued in 2026?
Based on GuruFocus' analysis, Thoresen Thai Agencies PCL stock appears to be undervalued.
The current stock price of $0.20 is trading 4.8% below its estimated GF Value™ of $0.21.
Key valuation signals for THAFF:
Sloan Ratio %: -9.54%
GF Value™: $0.21 vs. price of $0.20 (4.8% below fair value)
No single metric tells the full story. See the THAFF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thoresen Thai Agencies PCL is an investment holding company. The company operates in five main segments: shipping, offshore service, agrochemical, food and beverage, and investment. Its activities include ownership of dry bulk vessels, certain shipping services, offshore services related to oil and gas, production and sales of fertilizers, coal trading, warehouse, and logistics services, and food and beverage. The maximum revenue is derived from the Offshore Service segment.
79GF Score
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