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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 Mar. 2026, Smart Asia Chemical Bhd has a Sloan Ratio of 3.04%, indicating the company is in the safe zone and there is no funny business with accruals.
Smart Asia Chemical Bhd (XKLS:0306) 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 Mar. 2026, Smart Asia Chemical Bhd has a Sloan Ratio of 3.04%, indicating the company is in the safe zone and there is no funny business with accruals.
Smart Asia Chemical Bhd Sloan Ratio % Related Terms
Smart Asia Chemical Bhd 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.
XKLS:0306 vs LIN, SHW, ECL: Sloan Ratio % Comparison
For the Specialty Chemicals subindustry, Smart Asia Chemical Bhd'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.
Smart Asia Chemical Bhd Sloan Ratio % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Smart Asia Chemical Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Smart Asia Chemical Bhd'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.
Smart Asia Chemical Bhd's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Smart Asia Chemical Bhd's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -0.198 (Jun. 2025 ) + 0.673 (Sep. 2025 ) + -0.231 (Dec. 2025 ) + 3.183 (Mar. 2026 ) = RM3.43 Mil.
Smart Asia Chemical Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 4.653 (Jun. 2025 ) + 0.572 (Sep. 2025 ) + 5.981 (Dec. 2025 ) + 0.793 (Mar. 2026 ) = RM12.00 Mil.
Smart Asia Chemical Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -0.405 (Jun. 2025 ) + -1.572 (Sep. 2025 ) + -8.61 (Dec. 2025 ) + -3.205 (Mar. 2026 ) = RM-13.79 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.
Smart Asia Chemical Bhd (XKLS:0306) has a Sloan Ratio % of 3.04% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Smart Asia Chemical Bhd and its competitors.
Is Smart Asia Chemical Bhd's Sloan Ratio % too high?
Smart Asia Chemical Bhd's current Sloan Ratio % is 3.04%. Overall, Smart Asia Chemical Bhd has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does Smart Asia Chemical Bhd's Sloan Ratio % compare to LIN and SHW?
Smart Asia Chemical Bhd's Sloan Ratio % of 3.04% can be compared against companies in the Chemicals 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 Chemicals company?
A good Sloan Ratio % depends on the Chemicals 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 Smart Asia Chemical Bhd and its competitors. Smart Asia Chemical Bhd's current Sloan Ratio % is 3.04%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smart Asia Chemical Bhd stock overvalued right now?
Smart Asia Chemical Bhd (XKLS:0306) has a current Sloan Ratio % of 3.04%. The current Sloan Ratio % is 3.04%. Smart Asia Chemical Bhd's overall GF Score™ is 29/100 with 7 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 Smart Asia Chemical Bhd (XKLS:0306), the current Sloan Ratio % is 3.04% as of Mar. 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.
Smart Asia Chemical Bhd is an investment holding company. Through its subsidiaries, it is involved in the development, manufacturing, distribution, and sale of decorative paints and protective coatings for household and industrial applications. Also involved in the development, manufacturing, distribution and sale of related products, namely colourants, and binding and coating chemicals; sale and trading of painting tools and accessories, aerosol spray paints and other related products to complement decorative paints and protective coatings offerings, ODM services of decorative paints, protective coatings as well as binding and coating chemicals for third party brand owners. Company has three segments manufacturing, sale and trading and other.
29GF Score
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