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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, Southern Acids (M) Bhd has a Sloan Ratio of 1.67%, indicating the company is in the safe zone and there is no funny business with accruals.
Southern Acids (M) Bhd (XKLS:5134) 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, Southern Acids (M) Bhd has a Sloan Ratio of 1.67%, indicating the company is in the safe zone and there is no funny business with accruals.
Southern Acids (M) Bhd Sloan Ratio % Related Terms
Southern Acids (M) 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.
For the Conglomerates subindustry, Southern Acids (M) 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.
Southern Acids (M) Bhd Sloan Ratio % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Southern Acids (M) Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Southern Acids (M) 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.
Southern Acids (M) Bhd's Sloan Ratio for the fiscal year that ended in Mar. 2026 is calculated as
Southern Acids (M) Bhd's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -0.321 (Jun. 2025 ) + 9.287 (Sep. 2025 ) + 4.85 (Dec. 2025 ) + 23.562 (Mar. 2026 ) = RM37.4 Mil.
Southern Acids (M) Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 19.389 (Jun. 2025 ) + 20.886 (Sep. 2025 ) + 19.09 (Dec. 2025 ) + 56.554 (Mar. 2026 ) = RM115.9 Mil.
Southern Acids (M) Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -3.37 (Jun. 2025 ) + -6.083 (Sep. 2025 ) + -2.778 (Dec. 2025 ) + -83.451 (Mar. 2026 ) = RM-95.7 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.
Southern Acids (M) Bhd (XKLS:5134) has a Sloan Ratio % of 1.67% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Southern Acids (M) Bhd and its competitors.
Is Southern Acids (M) Bhd's Sloan Ratio % too high?
Southern Acids (M) Bhd's current Sloan Ratio % is 1.67%. Overall, Southern Acids (M) Bhd has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Southern Acids (M) Bhd's Sloan Ratio % compare to MMM and HON?
Southern Acids (M) Bhd's Sloan Ratio % of 1.67% can be compared against companies in the Conglomerates 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 Conglomerates company?
A good Sloan Ratio % depends on the Conglomerates 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 Southern Acids (M) Bhd and its competitors. Southern Acids (M) Bhd's current Sloan Ratio % is 1.67%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Southern Acids (M) Bhd stock overvalued right now?
Based on GuruFocus' analysis, Southern Acids (M) Bhd (XKLS:5134) is currently considered Fairly Valued. The stock's GF Value™ is RM2.87, compared to a current price of RM3.02 — trading 5.2% above its estimated fair value. The current Sloan Ratio % is 1.67%. Southern Acids (M) Bhd's overall GF Score™ is 66/100 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 Southern Acids (M) Bhd (XKLS:5134), the current Sloan Ratio % is 1.67% 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.
Is Southern Acids (M) Bhd (XKLS:5134) Overvalued in 2026?
Based on GuruFocus' analysis, Southern Acids (M) Bhd stock appears to be overvalued.
The current stock price of RM3.02 is trading 5.2% above its estimated GF Value™ of RM2.87.
GuruFocus considers Southern Acids (M) Bhd to be Fairly Valued.
Key valuation signals for XKLS:5134:
Sloan Ratio %: 1.67%
GF Value™: RM2.87 vs. price of RM3.02 (5.2% above fair value)
No single metric tells the full story. See the XKLS:5134 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Southern Acids (M) Bhd is an investment holding and the provision of a management service company. The company's operating segment includes Oleochemical; Healthcare; Milling and Cultivation and Investments and services. It generates maximum revenue from the Milling and Cultivation segment. The Oleochemical Segment is involved in the manufacturing and marketing of fatty acids and glycerine. Its Milling and Cultivation Segment is principally engaged in the processing of Fresh Fruit Bunches. Geographically, it has a presence in Malaysia, Indonesia, Europe, America, and Other Countries.
66GF Score
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