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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, Associated Industries China has a Sloan Ratio of -2.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Associated Industries China (TPE:9912) 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, Associated Industries China has a Sloan Ratio of -2.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Associated Industries China Sloan Ratio % Related Terms
Associated Industries China 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:9912 vs APH, GLW, TEL: Sloan Ratio % Comparison
For the Electronic Components subindustry, Associated Industries China'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.
Associated Industries China Sloan Ratio % vs Hardware Industry
For the Hardware industry and Technology sector, Associated Industries China's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Associated Industries China's Sloan Ratio % falls into.
Associated Industries China 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.
Associated Industries China's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was -14.329 (Sep. 2025 ) + 1.523 (Dec. 2025 ) + -10.227 (Mar. 2026 ) + -12.915 (Jun. 2026 ) = NT$-35.9 Mil.
Associated Industries China's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -41.266 (Sep. 2025 ) + 33.102 (Dec. 2025 ) + 26.14 (Mar. 2026 ) + -30.234 (Jun. 2026 ) = NT$-12.3 Mil.
Associated Industries China's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -0.409 (Sep. 2025 ) + -4.3 (Dec. 2025 ) + -0.096 (Mar. 2026 ) + -0.862 (Jun. 2026 ) = NT$-5.7 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.
Associated Industries China (TPE:9912) has a Sloan Ratio % of -2.23% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Associated Industries China and its competitors.
Is Associated Industries China's Sloan Ratio % too high?
Associated Industries China's current Sloan Ratio % is -2.23%. Overall, Associated Industries China has a GF Score™ of 66/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Associated Industries China's Sloan Ratio % compare to APH and GLW?
Associated Industries China's Sloan Ratio % of -2.23% 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 Associated Industries China and its competitors. Associated Industries China's current Sloan Ratio % is -2.23%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Associated Industries China stock overvalued right now?
Based on GuruFocus' analysis, Associated Industries China (TPE:9912) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$11.84, compared to a current price of NT$14.10 — trading 19.1% above its estimated fair value. The current Sloan Ratio % is -2.23%. Associated Industries China's overall GF Score™ is 66/100 with 8 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 Associated Industries China (TPE:9912), the current Sloan Ratio % is -2.23% 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 Associated Industries China (TPE:9912) Overvalued in 2026?
Based on GuruFocus' analysis, Associated Industries China stock appears to be overvalued.
The current stock price of NT$14.10 is trading 19.1% above its estimated GF Value™ of NT$11.84.
GuruFocus considers Associated Industries China to be Modestly Overvalued.
Key valuation signals for TPE:9912:
Sloan Ratio %: -2.23%
GF Value™: NT$11.84 vs. price of NT$14.10 (19.1% above fair value)
No single metric tells the full story. See the TPE:9912 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Associated Industries China Inc is engaged in the research, development, and sale of LCD monitors, Medical equipment and Healthcare products, Other accessories, and the Real estate rental business. The company earns maximum revenue from LCD monitors, and geographically, the company earns maximum revenue from the Netherlands, followed by the United States, Taiwan, and others.
66GF Score
Get the complete analysis for TPE:9912
Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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