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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 Dec. 2025, Cleanaway Waste Management has a Sloan Ratio of 6.22%, indicating the company is in the safe zone and there is no funny business with accruals.
Cleanaway Waste Management (OTCPK:TSPCF) 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 Dec. 2025, Cleanaway Waste Management has a Sloan Ratio of 6.22%, indicating the company is in the safe zone and there is no funny business with accruals.
Cleanaway Waste Management Sloan Ratio % Related Terms
Cleanaway Waste Management 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.
For the Waste Management subindustry, Cleanaway Waste Management'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.
Cleanaway Waste Management Sloan Ratio % vs Waste Management Industry
For the Waste Management industry and Industrials sector, Cleanaway Waste Management's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Cleanaway Waste Management's Sloan Ratio % falls into.
Cleanaway Waste Management 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.
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Cleanaway Waste Management's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was 54.427 (Jun. 2025 ) + 24.784 (Dec. 2025 ) = $79 Mil.
Cleanaway Waste Management's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was 190.56 (Jun. 2025 ) + 108.372 (Dec. 2025 ) = $299 Mil.
Cleanaway Waste Management's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was -120.247 (Jun. 2025 ) + -394.02 (Dec. 2025 ) = $-514 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.
Cleanaway Waste Management (TSPCF) has a Sloan Ratio % of 6.22% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Cleanaway Waste Management and its competitors.
Is Cleanaway Waste Management's Sloan Ratio % too high?
Cleanaway Waste Management's current Sloan Ratio % is 6.22%. Overall, Cleanaway Waste Management has a GF Score™ of 83/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Cleanaway Waste Management's Sloan Ratio % compare to WM and RSG?
Cleanaway Waste Management's Sloan Ratio % of 6.22% 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 Cleanaway Waste Management and its competitors. Cleanaway Waste Management's current Sloan Ratio % is 6.22%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cleanaway Waste Management stock overvalued right now?
Based on GuruFocus' analysis, Cleanaway Waste Management (TSPCF) is currently considered Possible Value Trap. The stock's GF Value™ is $2.24, compared to a current price of $1.47 — trading 34.3% below its estimated fair value. The current Sloan Ratio % is 6.22%. Cleanaway Waste Management's overall GF Score™ is 83/100 with 6 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 Cleanaway Waste Management (TSPCF), the current Sloan Ratio % is 6.22% as of Dec. 2025. 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 Cleanaway Waste Management (TSPCF) Overvalued in 2026?
Based on GuruFocus' analysis, Cleanaway Waste Management stock appears to be undervalued.
The current stock price of $1.47 is trading 34.3% below its estimated GF Value™ of $2.24.
GuruFocus considers Cleanaway Waste Management to be Possible Value Trap.
Key valuation signals for TSPCF:
Sloan Ratio %: 6.22%
GF Value™: $2.24 vs. price of $1.47 (34.3% below fair value)
No single metric tells the full story. See the TSPCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cleanaway Waste Management is Australia's largest waste management business with a national footprint in the collection and disposal of waste. It is active in municipal and commercial and industrial waste stream segments and in nonhazardous and hazardous liquid and medical waste. While Cleanaway is allocating greater capital to waste processing and treatment, earnings remain skewed toward waste collection. The company is particularly strong in commercial, industrial, and municipal waste collection with strong market share in all large Australian metro waste collection markets.
83GF 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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