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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 Jun. 2026, Good Will Instrument Co has a Sloan Ratio of 4.07%, indicating the company is in the safe zone and there is no funny business with accruals.
Good Will Instrument Co (TPE:2423) 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 Jun. 2026, Good Will Instrument Co has a Sloan Ratio of 4.07%, indicating the company is in the safe zone and there is no funny business with accruals.
Good Will Instrument Co Sloan Ratio % Related Terms
Good Will Instrument Co 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.
TPE:2423 vs GRMN, COHR, KEYS: Sloan Ratio % Comparison
For the Scientific & Technical Instruments subindustry, Good Will Instrument Co'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.
Good Will Instrument Co Sloan Ratio % vs Hardware Industry
For the Hardware industry and Technology sector, Good Will Instrument Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Good Will Instrument Co'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.
Good Will Instrument Co's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Good Will Instrument Co's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 115.042 (Sep. 2025 ) + 134.645 (Dec. 2025 ) + 188.308 (Mar. 2026 ) + 173.575 (Jun. 2026 ) = NT$612 Mil.
Good Will Instrument Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -22.668 (Sep. 2025 ) + 238.871 (Dec. 2025 ) + 163.815 (Mar. 2026 ) + 183.698 (Jun. 2026 ) = NT$564 Mil.
Good Will Instrument Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -109.682 (Sep. 2025 ) + -13.142 (Dec. 2025 ) + 6.889 (Mar. 2026 ) + -12.633 (Jun. 2026 ) = NT$-129 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.
Good Will Instrument Co (TPE:2423) has a Sloan Ratio % of 4.07% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Good Will Instrument Co and its competitors.
Is Good Will Instrument Co's Sloan Ratio % too high?
Good Will Instrument Co's current Sloan Ratio % is 4.07%. Overall, Good Will Instrument Co has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Good Will Instrument Co's Sloan Ratio % compare to GRMN and COHR?
Good Will Instrument Co's Sloan Ratio % of 4.07% can be compared against companies in the Hardware 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 Hardware company?
A good Sloan Ratio % depends on the Hardware 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 Good Will Instrument Co and its competitors. Good Will Instrument Co's current Sloan Ratio % is 4.07%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Good Will Instrument Co stock overvalued right now?
Based on GuruFocus' analysis, Good Will Instrument Co (TPE:2423) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$50.11, compared to a current price of NT$73.00 — trading 45.7% above its estimated fair value. The current Sloan Ratio % is 4.07%. Good Will Instrument Co's overall GF Score™ is 77/100. 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 Good Will Instrument Co (TPE:2423), the current Sloan Ratio % is 4.07% as of Jun. 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 Good Will Instrument Co (TPE:2423) Overvalued in 2026?
Based on GuruFocus' analysis, Good Will Instrument Co stock appears to be overvalued.
The current stock price of NT$73.00 is trading 45.7% above its estimated GF Value™ of NT$50.11.
GuruFocus considers Good Will Instrument Co to be Significantly Overvalued.
Key valuation signals for TPE:2423:
Sloan Ratio %: 4.07%
GF Value™: NT$50.11 vs. price of NT$73.00 (45.7% above fair value)
No single metric tells the full story. See the TPE:2423 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Good Will Instrument Co Ltd manufactures and sells electrical testing instruments, communication equipment, and related products. Its products include oscilloscopes, spectrum analyzers, signal sources, power supplies, public broadcasting and video monitoring systems, environmental testing equipment, constant temperature and humidity equipment, and vibration test equipment, among others. Geographically, the company generates a majority of its revenue from China and the rest from Japan, Taiwan, America, Europe, and other countries.
77GF Score
Get the complete analysis for TPE:2423
Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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