Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
Mayer Steel Pipe's Sloan Ratio for the quarter that ended in Mar. 2026 was 7.03%.
As of Mar. 2026, Mayer Steel Pipe has a Sloan Ratio of 7.03%, indicating the company is in the safe zone and there is no funny business with accruals.
Mayer Steel Pipe (TPE:2020) 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, Mayer Steel Pipe has a Sloan Ratio of 7.03%, indicating the company is in the safe zone and there is no funny business with accruals.
Mayer Steel Pipe Sloan Ratio % Related Terms
Mayer Steel Pipe Sloan Ratio % Historical Data
* Premium members only.
The historical data trend for Mayer Steel Pipe'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.
TPE:2020 vs NUE, STLD, RS: Sloan Ratio % Comparison
For the Steel subindustry, Mayer Steel Pipe'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.
Mayer Steel Pipe Sloan Ratio % vs Steel Industry
For the Steel industry and Basic Materials sector, Mayer Steel Pipe's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Mayer Steel Pipe'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.
Mayer Steel Pipe's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Mayer Steel Pipe's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 129.381 (Jun. 2025 ) + 156.608 (Sep. 2025 ) + 125.073 (Dec. 2025 ) + 107.154 (Mar. 2026 ) = NT$518 Mil.
Mayer Steel Pipe's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -1326.011 (Jun. 2025 ) + 509.905 (Sep. 2025 ) + 341.958 (Dec. 2025 ) + 193.662 (Mar. 2026 ) = NT$-280 Mil.
Mayer Steel Pipe's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 306.736 (Jun. 2025 ) + -41.014 (Sep. 2025 ) + -38.436 (Dec. 2025 ) + -62.685 (Mar. 2026 ) = NT$165 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.
Mayer Steel Pipe (TPE:2020) has a Sloan Ratio % of 7.03% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Mayer Steel Pipe and its competitors.
Is Mayer Steel Pipe's Sloan Ratio % too high?
Mayer Steel Pipe's current Sloan Ratio % is 7.03%. Overall, Mayer Steel Pipe has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mayer Steel Pipe's Sloan Ratio % compare to NUE and STLD?
Mayer Steel Pipe's Sloan Ratio % of 7.03% can be compared against companies in the Steel 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 Steel company?
A good Sloan Ratio % depends on the Steel 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 Mayer Steel Pipe and its competitors. Mayer Steel Pipe's current Sloan Ratio % is 7.03%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mayer Steel Pipe stock overvalued right now?
Based on GuruFocus' analysis, Mayer Steel Pipe (TPE:2020) is currently considered Fairly Valued. The stock's GF Value™ is NT$21.19, compared to a current price of NT$21.15 — trading 0.2% below its estimated fair value. The current Sloan Ratio % is 7.03%. Mayer Steel Pipe's overall GF Score™ is 77/100 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 Mayer Steel Pipe (TPE:2020), the current Sloan Ratio % is 7.03% 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 Mayer Steel Pipe (TPE:2020) Overvalued in 2026?
Based on GuruFocus' analysis, Mayer Steel Pipe stock appears to be undervalued.
The current stock price of NT$21.15 is trading 0.2% below its estimated GF Value™ of NT$21.19.
GuruFocus considers Mayer Steel Pipe to be Fairly Valued.
Key valuation signals for TPE:2020:
Sloan Ratio %: 7.03%
GF Value™: NT$21.19 vs. price of NT$21.15 (0.2% below fair value)
No single metric tells the full story. See the TPE:2020 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mayer Steel Pipe Corp operates as a steel pipe manufacturer in Taiwan. The primary business of the company and its entities is engaged in the production and sales of black steel pipes, galvanized steel pipes and stainless-steel coils for pipes. The company's reportable segments are the Steel Segment, Real Estate Investment Segment, Investment Segment, and Hotel Services Segment. The majority of revenue is derived from the Steel department, which focuses on the production and sales of black steel pipes, zinc-coated steel pipes, and stainless-steel coils for Pipes. Geographically it generates maximum revenue from Taiwan and the rest from Vietnam, Thailand, and other regions.
77GF Score
Get the complete analysis for TPE:2020
Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:2020 has been successfully added to your 
