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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.
TSRC's Sloan Ratio for the quarter that ended in Mar. 2026 was -2.54%.
As of Mar. 2026, TSRC has a Sloan Ratio of -2.54%, indicating the company is in the safe zone and there is no funny business with accruals.
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, TSRC has a Sloan Ratio of -2.54%, indicating the company is in the safe zone and there is no funny business with accruals.
TSRC Sloan Ratio % Related Terms
TSRC Sloan Ratio % Historical Data
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The historical data trend for TSRC'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:2103 vs LIN, SHW, ECL: Sloan Ratio % Comparison
For the Specialty Chemicals subindustry, TSRC'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.
TSRC Sloan Ratio % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, TSRC's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where TSRC'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.
TSRC's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
TSRC's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -67.954 (Jun. 2025 ) + -82.249 (Sep. 2025 ) + 268.774 (Dec. 2025 ) + 435.719 (Mar. 2026 ) = NT$554 Mil.
TSRC's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 2639.059 (Jun. 2025 ) + 101.332 (Sep. 2025 ) + 374.083 (Dec. 2025 ) + -342.526 (Mar. 2026 ) = NT$2,772 Mil.
TSRC's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -276.496 (Jun. 2025 ) + -191.211 (Sep. 2025 ) + -53.533 (Dec. 2025 ) + -557.589 (Mar. 2026 ) = NT$-1,079 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.
TSRC (TPE:2103) has a Sloan Ratio % of -2.54% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on TSRC and its competitors.
Is TSRC's Sloan Ratio % too high?
TSRC's current Sloan Ratio % is -2.54%. Overall, TSRC has a GF Score™ of 66/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TSRC's Sloan Ratio % compare to LIN and SHW?
TSRC's Sloan Ratio % of -2.54% can be compared against companies in the Chemicals 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 Chemicals company?
A good Sloan Ratio % depends on the Chemicals 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 TSRC and its competitors. TSRC's current Sloan Ratio % is -2.54%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSRC stock overvalued right now?
Based on GuruFocus' analysis, TSRC (TPE:2103) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$24.44, compared to a current price of NT$27.35 — trading 11.9% above its estimated fair value. The current Sloan Ratio % is -2.54%. TSRC's overall GF Score™ is 66/100 with 11 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 TSRC (TPE:2103), the current Sloan Ratio % is -2.54% 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 TSRC (TPE:2103) Overvalued in 2026?
Based on GuruFocus' analysis, TSRC stock appears to be overvalued.
The current stock price of NT$27.35 is trading 11.9% above its estimated GF Value™ of NT$24.44.
GuruFocus considers TSRC to be Modestly Overvalued.
Key valuation signals for TPE:2103:
Sloan Ratio %: -2.54%
GF Value™: NT$24.44 vs. price of NT$27.35 (11.9% above fair value)
No single metric tells the full story. See the TPE:2103 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TSRC Corporation is a rubber manufacturer based out of Taiwan. The company offers tire products globally, with Asian markets accounting for the majority of the company's sales. Product offerings are divided into the Synthetic Rubber business and Applied polymer business. Under the Synthetic Rubber business, tires are built to improve abrasion resistance and provide low rolling resistance and wet grip resistance. Consumers of TSRC Corp tire products depend on products to deliver reduced fuel consumption and meet a host of regulations and environmental conditions. Products under the Applied Polymers business are often used in high-grade shoe soles, asphalt modification, plastic modification, adhesives, and other end markets. Its geographical segments are Asia, America, Europe, and Others.
66GF 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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