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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.
Excelsior Medical Co's Sloan Ratio for the quarter that ended in Jun. 2026 was -1.86%.
As of Jun. 2026, Excelsior Medical Co has a Sloan Ratio of -1.86%, indicating the company is in the safe zone and there is no funny business with accruals.
Excelsior Medical Co (TPE:4104) 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, Excelsior Medical Co has a Sloan Ratio of -1.86%, indicating the company is in the safe zone and there is no funny business with accruals.
Excelsior Medical Co Sloan Ratio % Related Terms
Excelsior Medical Co Sloan Ratio % Historical Data
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The historical data trend for Excelsior Medical Co'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:4104 vs MCK, COR, CAH: Sloan Ratio % Comparison
For the Medical Distribution subindustry, Excelsior Medical 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.
Excelsior Medical Co Sloan Ratio % vs Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, Excelsior Medical Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Excelsior Medical 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.
Excelsior Medical Co's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Excelsior Medical Co's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 186.918 (Sep. 2025 ) + 193.877 (Dec. 2025 ) + 205.18 (Mar. 2026 ) + 308.497 (Jun. 2026 ) = NT$894 Mil.
Excelsior Medical Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -254.405 (Sep. 2025 ) + 241.419 (Dec. 2025 ) + 223.998 (Mar. 2026 ) + 321.612 (Jun. 2026 ) = NT$533 Mil.
Excelsior Medical Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was 84.408 (Sep. 2025 ) + -20.479 (Dec. 2025 ) + -17.032 (Mar. 2026 ) + 707.952 (Jun. 2026 ) = NT$755 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.
Excelsior Medical Co (TPE:4104) has a Sloan Ratio % of -1.86% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Excelsior Medical Co and its competitors.
Is Excelsior Medical Co's Sloan Ratio % too high?
Excelsior Medical Co's current Sloan Ratio % is -1.86%. Overall, Excelsior Medical Co has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Excelsior Medical Co's Sloan Ratio % compare to MCK and COR?
Excelsior Medical Co's Sloan Ratio % of -1.86% can be compared against companies in the Medical Distribution 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 Medical Distribution company?
A good Sloan Ratio % depends on the Medical Distribution 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 Excelsior Medical Co and its competitors. Excelsior Medical Co's current Sloan Ratio % is -1.86%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Excelsior Medical Co stock overvalued right now?
Based on GuruFocus' analysis, Excelsior Medical Co (TPE:4104) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$86.54, compared to a current price of NT$72.60 — trading 16.1% below its estimated fair value. The current Sloan Ratio % is -1.86%. Excelsior Medical Co's overall GF Score™ is 85/100 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 Excelsior Medical Co (TPE:4104), the current Sloan Ratio % is -1.86% 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 Excelsior Medical Co (TPE:4104) Overvalued in 2026?
Based on GuruFocus' analysis, Excelsior Medical Co stock appears to be undervalued.
The current stock price of NT$72.60 is trading 16.1% below its estimated GF Value™ of NT$86.54.
GuruFocus considers Excelsior Medical Co to be Modestly Undervalued.
Key valuation signals for TPE:4104:
Sloan Ratio %: -1.86%
GF Value™: NT$86.54 vs. price of NT$72.60 (16.1% below fair value)
No single metric tells the full story. See the TPE:4104 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Excelsior Medical Co Ltd is engaged in the sale of medical supplies and medicines, home medical devices, and medical equipment with brand names of local and foreign manufacturers. Its product offerings include Fasflo hollow fiber dialyzer, Renabio sodium chloride injection, acid concentrates, Sunder blood purification tubing set, JMS blood bags, etc. The Group's reportable segments include Excelsior, Dynamic, Arich, and Others. Maximum revenue is generated from the Excelsior segment. Geographically, it derives key revenue from Taiwan and also has a presence in Hong Kong, China, the Philippines, Malaysia, and Indonesia.
85GF Score
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