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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.
Taiwan Paiho's Sloan Ratio for the quarter that ended in Jun. 2026 was 5.13%.
As of Jun. 2026, Taiwan Paiho has a Sloan Ratio of 5.13%, 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 Jun. 2026, Taiwan Paiho has a Sloan Ratio of 5.13%, indicating the company is in the safe zone and there is no funny business with accruals.
Taiwan Paiho Sloan Ratio % Related Terms
Taiwan Paiho Sloan Ratio % Historical Data
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The historical data trend for Taiwan Paiho'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.
For the Textile Manufacturing subindustry, Taiwan Paiho'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.
Taiwan Paiho Sloan Ratio % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Taiwan Paiho's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Taiwan Paiho'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.
Taiwan Paiho's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Taiwan Paiho's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 344.677 (Sep. 2025 ) + 218.162 (Dec. 2025 ) + 260.126 (Mar. 2026 ) + 145.553 (Jun. 2026 ) = NT$969 Mil.
Taiwan Paiho's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 194.739 (Sep. 2025 ) + 828.48 (Dec. 2025 ) + 11.374 (Mar. 2026 ) + 475.869 (Jun. 2026 ) = NT$1,510 Mil.
Taiwan Paiho's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -479.002 (Sep. 2025 ) + -418.315 (Dec. 2025 ) + -439.94 (Mar. 2026 ) + -1041.809 (Jun. 2026 ) = NT$-2,379 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.
Taiwan Paiho (TPE:9938) has a Sloan Ratio % of 5.13% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Taiwan Paiho and its competitors.
Is Taiwan Paiho's Sloan Ratio % too high?
Taiwan Paiho's current Sloan Ratio % is 5.13%. Overall, Taiwan Paiho has a GF Score™ of 81/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Taiwan Paiho's Sloan Ratio % compare to competitors?
Taiwan Paiho's Sloan Ratio % of 5.13% can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?
A good Sloan Ratio % depends on the Manufacturing - Apparel & Accessories 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 Taiwan Paiho and its competitors. Taiwan Paiho's current Sloan Ratio % is 5.13%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Paiho stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Paiho (TPE:9938) is currently considered Possible Value Trap. The stock's GF Value™ is NT$68.38, compared to a current price of NT$42.10 — trading 38.4% below its estimated fair value. The current Sloan Ratio % is 5.13%. Taiwan Paiho's overall GF Score™ is 81/100 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 Taiwan Paiho (TPE:9938), the current Sloan Ratio % is 5.13% 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 Taiwan Paiho (TPE:9938) Overvalued in 2026?
Based on GuruFocus' analysis, Taiwan Paiho stock appears to be undervalued.
The current stock price of NT$42.10 is trading 38.4% below its estimated GF Value™ of NT$68.38.
GuruFocus considers Taiwan Paiho to be Possible Value Trap.
Key valuation signals for TPE:9938:
Sloan Ratio %: 5.13%
GF Value™: NT$68.38 vs. price of NT$42.10 (38.4% below fair value)
No single metric tells the full story. See the TPE:9938 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Taiwan Paiho Ltd manufactures and sells touch fasteners, webbing, shoelaces, elastic, easy tape, and related superficial materials, as well as residential buildings constructed by entrusted construction contractors. The Group is also engaged in the construction business, including the sale of housing, shopping centers, and office buildings constructed by entrusted construction contractors. The Group operates through two reportable segments: Production, which generates maximum revenue, and Construction. Its business mainly operates in Taiwan, China, and Vietnam, with maximum revenue generated from Vietnam.
81GF Score
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