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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, Forest Water Environmental Eng'g Co has a Sloan Ratio of -4.20%, indicating the company is in the safe zone and there is no funny business with accruals.
Forest Water Environmental Eng'g Co (TPE:8473) 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, Forest Water Environmental Eng'g Co has a Sloan Ratio of -4.20%, indicating the company is in the safe zone and there is no funny business with accruals.
Forest Water Environmental Eng'g Co Sloan Ratio % Related Terms
Forest Water Environmental Eng'g 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.
Forest Water Environmental Eng'g Co Sloan Ratio % Chart
TPE:8473 vs WM, RSG, WCN: Sloan Ratio % Comparison
For the Waste Management subindustry, Forest Water Environmental Eng'g 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.
Forest Water Environmental Eng'g Co Sloan Ratio % vs Waste Management Industry
For the Waste Management industry and Industrials sector, Forest Water Environmental Eng'g Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Forest Water Environmental Eng'g Co's Sloan Ratio % falls into.
Forest Water Environmental Eng'g Co 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.
Forest Water Environmental Eng'g Co's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 97.841 (Sep. 2025 ) + 90.246 (Dec. 2025 ) + 222.042 (Mar. 2026 ) + 218.112 (Jun. 2026 ) = NT$628 Mil.
Forest Water Environmental Eng'g Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 579.808 (Sep. 2025 ) + 1001.414 (Dec. 2025 ) + -66.246 (Mar. 2026 ) + -82.552 (Jun. 2026 ) = NT$1,432 Mil.
Forest Water Environmental Eng'g Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -12.917 (Sep. 2025 ) + -147.601 (Dec. 2025 ) + -21.559 (Mar. 2026 ) + 80.663 (Jun. 2026 ) = NT$-101 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.
Forest Water Environmental Eng'g Co (TPE:8473) has a Sloan Ratio % of -4.20% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Forest Water Environmental Eng'g Co and its competitors.
Is Forest Water Environmental Eng'g Co's Sloan Ratio % too high?
Forest Water Environmental Eng'g Co's current Sloan Ratio % is -4.20%. Overall, Forest Water Environmental Eng'g Co has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Forest Water Environmental Eng'g Co's Sloan Ratio % compare to WM and RSG?
Forest Water Environmental Eng'g Co's Sloan Ratio % of -4.20% can be compared against companies in the Waste Management 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 Waste Management company?
A good Sloan Ratio % depends on the Waste Management 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 Forest Water Environmental Eng'g Co and its competitors. Forest Water Environmental Eng'g Co's current Sloan Ratio % is -4.20%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forest Water Environmental Eng'g Co stock overvalued right now?
Based on GuruFocus' analysis, Forest Water Environmental Eng'g Co (TPE:8473) is currently considered Fairly Valued. The stock's GF Value™ is NT$41.42, compared to a current price of NT$38.30 — trading 7.5% below its estimated fair value. The current Sloan Ratio % is -4.20%. Forest Water Environmental Eng'g Co's overall GF Score™ is 84/100 with 4 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 Forest Water Environmental Eng'g Co (TPE:8473), the current Sloan Ratio % is -4.20% 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 Forest Water Environmental Eng'g Co (TPE:8473) Overvalued in 2026?
Based on GuruFocus' analysis, Forest Water Environmental Eng'g Co stock appears to be undervalued.
The current stock price of NT$38.30 is trading 7.5% below its estimated GF Value™ of NT$41.42.
GuruFocus considers Forest Water Environmental Eng'g Co to be Fairly Valued.
Key valuation signals for TPE:8473:
Sloan Ratio %: -4.20%
GF Value™: NT$41.42 vs. price of NT$38.30 (7.5% below fair value)
No single metric tells the full story. See the TPE:8473 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forest Water Environmental Eng'g Co Ltd is engaged includes engineering projects for environmental protection, sewage treatment, waste treatment and recycling, and the recycling and decomposition of compostable food waste. It also provides the construction of a water purification plant, the construction of a sewage treatment plant in the scientific industrial park, and the construction of a sewage treatment plant.
84GF 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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