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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.
Gas Malaysia Bhd's Sloan Ratio for the quarter that ended in Mar. 2026 was 10.83%.
As of Mar. 2026, Gas Malaysia Bhd has a Sloan Ratio of 10.83%, indicating there is a warning stage of accrual build up.
Gas Malaysia Bhd (XKLS:5209) 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, Gas Malaysia Bhd has a Sloan Ratio of 10.83%, indicating there is a warning stage of accrual build up.
Gas Malaysia Bhd Sloan Ratio % Related Terms
Gas Malaysia Bhd Sloan Ratio % Historical Data
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The historical data trend for Gas Malaysia Bhd'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.
XKLS:5209 vs ATO, NI, UGI: Sloan Ratio % Comparison
For the Utilities - Regulated Gas subindustry, Gas Malaysia 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.
Gas Malaysia Bhd Sloan Ratio % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Gas Malaysia Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Gas Malaysia 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.
Gas Malaysia Bhd's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Gas Malaysia Bhd's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 99.12 (Jun. 2025 ) + 95.083 (Sep. 2025 ) + 87.361 (Dec. 2025 ) + 92.839 (Mar. 2026 ) = RM374 Mil.
Gas Malaysia Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 98.652 (Jun. 2025 ) + 72.623 (Sep. 2025 ) + 36.656 (Dec. 2025 ) + 134.701 (Mar. 2026 ) = RM343 Mil.
Gas Malaysia Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -69.241 (Jun. 2025 ) + -128.184 (Sep. 2025 ) + -99.042 (Dec. 2025 ) + -75.412 (Mar. 2026 ) = RM-372 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.
Gas Malaysia Bhd (XKLS:5209) has a Sloan Ratio % of 10.83% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Gas Malaysia Bhd and its competitors.
Is Gas Malaysia Bhd's Sloan Ratio % too high?
Gas Malaysia Bhd's current Sloan Ratio % is 10.83%. Overall, Gas Malaysia Bhd has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Gas Malaysia Bhd's Sloan Ratio % compare to ATO and NI?
Gas Malaysia Bhd's Sloan Ratio % of 10.83% can be compared against companies in the Utilities - Regulated 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 an Utilities - Regulated company?
A good Sloan Ratio % depends on the Utilities - Regulated 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 Gas Malaysia Bhd and its competitors. Gas Malaysia Bhd's current Sloan Ratio % is 10.83%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gas Malaysia Bhd stock overvalued right now?
Based on GuruFocus' analysis, Gas Malaysia Bhd (XKLS:5209) is currently considered Significantly Overvalued. The stock's GF Value™ is RM3.72, compared to a current price of RM5.07 — trading 36.3% above its estimated fair value. The current Sloan Ratio % is 10.83%. Gas Malaysia Bhd's overall GF Score™ is 76/100 with 5 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 Gas Malaysia Bhd (XKLS:5209), the current Sloan Ratio % is 10.83% 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 Gas Malaysia Bhd (XKLS:5209) Overvalued in 2026?
Based on GuruFocus' analysis, Gas Malaysia Bhd stock appears to be overvalued.
The current stock price of RM5.07 is trading 36.3% above its estimated GF Value™ of RM3.72.
GuruFocus considers Gas Malaysia Bhd to be Significantly Overvalued.
Key valuation signals for XKLS:5209:
Sloan Ratio %: 10.83%
GF Value™: RM3.72 vs. price of RM5.07 (36.3% above fair value)
No single metric tells the full story. See the XKLS:5209 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Gas Malaysia Bhd is engaged in the sale, marketing, and distribution of natural gas to residential, commercial, and industrial customers, as well as the development, operation, and maintenance of the Natural Gas Distribution System (NGDS) in Peninsular Malaysia. The company segments its operations into Natural Gas & LPG and Others. Nearly all of Gas Malaysia's revenue is derived from its Natural Gas and LPG division. Its revenue is mainly derived from the sales of natural gas to industrial, commercial, and residential customers. The group sells gas to customers in various forms, namely natural gas, LPG, and CNG.
76GF Score
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