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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.
Southern Steel Bhd's Sloan Ratio for the quarter that ended in Sep. 2025 was 0.00%.
As of Sep. 2025, Southern Steel Bhd has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Southern Steel Bhd (XKLS:5665) 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 Sep. 2025, Southern Steel Bhd has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Southern Steel Bhd Sloan Ratio % Related Terms
Southern Steel Bhd Sloan Ratio % Historical Data
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The historical data trend for Southern Steel 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:5665 vs NUE, STLD, RS: Sloan Ratio % Comparison
For the Steel subindustry, Southern Steel 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 Steel Bhd Sloan Ratio % vs Steel Industry
For the Steel industry and Basic Materials sector, Southern Steel Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Southern Steel 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 Steel Bhd's Sloan Ratio for the fiscal year that ended in Jun. 2024 is calculated as
Southern Steel Bhd's Net Income for the trailing twelve months (TTM) ended in Sep. 2025 was -7.395 (Dec. 2024 ) + 2.772 (Mar. 2025 ) + 0.422 (Jun. 2025 ) + -30.536 (Sep. 2025 ) = RM-35 Mil.
Southern Steel Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2025 was 40.016 (Dec. 2024 ) + -148.265 (Mar. 2025 ) + 41.716 (Jun. 2025 ) + 0 (Sep. 2025 ) = RM-67 Mil.
Southern Steel Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2025 was 152.116 (Dec. 2024 ) + 427.58 (Mar. 2025 ) + 15.86 (Jun. 2025 ) + 0 (Sep. 2025 ) = RM596 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 Steel Bhd (XKLS:5665) has a Sloan Ratio % of 0.00% as of Sep. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Southern Steel Bhd and its competitors.
Is Southern Steel Bhd's Sloan Ratio % too high?
Southern Steel Bhd's current Sloan Ratio % is 0.00%. Overall, Southern Steel Bhd has a GF Score™ of 33/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Southern Steel Bhd's Sloan Ratio % compare to NUE and STLD?
Southern Steel Bhd's Sloan Ratio % of 0.00% can be compared against companies in the Steel 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 Steel company?
A good Sloan Ratio % depends on the Steel 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 Steel Bhd and its competitors. Southern Steel Bhd's current Sloan Ratio % is 0.00%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Southern Steel Bhd stock overvalued right now?
Based on GuruFocus' analysis, Southern Steel Bhd (XKLS:5665) is currently considered Significantly Overvalued. The stock's GF Value™ is RM0.25, compared to a current price of RM0.39 — trading 54% above its estimated fair value. The current Sloan Ratio % is 0.00%. Southern Steel Bhd's overall GF Score™ is 33/100 with 3 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 Steel Bhd (XKLS:5665), the current Sloan Ratio % is 0.00% as of Sep. 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 Southern Steel Bhd (XKLS:5665) Overvalued in 2026?
Based on GuruFocus' analysis, Southern Steel Bhd stock appears to be overvalued.
The current stock price of RM0.39 is trading 54% above its estimated GF Value™ of RM0.25.
GuruFocus considers Southern Steel Bhd to be Significantly Overvalued.
Key valuation signals for XKLS:5665:
Sloan Ratio %: 0.00%
GF Value™: RM0.25 vs. price of RM0.39 (54% above fair value)
No single metric tells the full story. See the XKLS:5665 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Southern Steel Bhd is an investment holding company involved in the manufacturing, sale and trading of steel bars and related products, while the principal activities of its subsidiaries include the manufacturing, sale and trading in billets, steel bars, wire rods, pre-stressed concrete strands, bars and wires, steel pipes, steel wires, and other related products, as well as rental of properties and investment holding. The company comprises the following reportable segments: Steel products, Investment holding and others and Hot rolled coil operation. The company derived the majority of revenue from the sale of its products: bars, wire rod, wire mesh, cut and bend and pre-stressed concrete wire.
33GF 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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