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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.
Zealand Pharma AS's Sloan Ratio for the quarter that ended in Mar. 2026 was 19.50%.
As of Mar. 2026, Zealand Pharma AS has a Sloan Ratio of 19.50%, indicating there is a warning stage of accrual build up.
Zealand Pharma AS (OTCPK:ZLDPF) 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, Zealand Pharma AS has a Sloan Ratio of 19.50%, indicating there is a warning stage of accrual build up.
Zealand Pharma AS Sloan Ratio % Related Terms
Zealand Pharma AS Sloan Ratio % Historical Data
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The historical data trend for Zealand Pharma AS'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.
ZLDPF vs VRTX, REGN, ALNY: Sloan Ratio % Comparison
For the Biotechnology subindustry, Zealand Pharma AS'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.
Zealand Pharma AS Sloan Ratio % vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Zealand Pharma AS's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Zealand Pharma AS'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.
Zealand Pharma AS's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Zealand Pharma AS's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 1170.949 (Jun. 2025 ) + -63.569 (Sep. 2025 ) + -59.437 (Dec. 2025 ) + -60.941 (Mar. 2026 ) = $987 Mil.
Zealand Pharma AS's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 1317.181 (Jun. 2025 ) + -69.787 (Sep. 2025 ) + -163.492 (Dec. 2025 ) + -103.939 (Mar. 2026 ) = $980 Mil.
Zealand Pharma AS's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -243.45 (Jun. 2025 ) + -134.523 (Sep. 2025 ) + -58.548 (Dec. 2025 ) + -17.942 (Mar. 2026 ) = $-454 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.
Zealand Pharma AS (ZLDPF) has a Sloan Ratio % of 19.50% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Zealand Pharma AS and its competitors.
Is Zealand Pharma AS's Sloan Ratio % too high?
Zealand Pharma AS's current Sloan Ratio % is 19.50%. Overall, Zealand Pharma AS has a GF Score™ of 48/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Zealand Pharma AS's Sloan Ratio % compare to VRTX and REGN?
Zealand Pharma AS's Sloan Ratio % of 19.50% can be compared against companies in the Biotechnology 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 Biotechnology company?
A good Sloan Ratio % depends on the Biotechnology 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 Zealand Pharma AS and its competitors. Zealand Pharma AS's current Sloan Ratio % is 19.50%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zealand Pharma AS stock overvalued right now?
Based on GuruFocus' analysis, Zealand Pharma AS (ZLDPF) is currently considered Possible Value Trap. The current Sloan Ratio % is 19.50%. Zealand Pharma AS's overall GF Score™ is 48/100 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 Zealand Pharma AS (ZLDPF), the current Sloan Ratio % is 19.50% 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.
Zealand Pharma AS is a biotechnology company. It is focused on the discovery, design, and development of peptide-based medicines. The company's product pipeline includes three product candidates in clinical development: glepaglutide, which is being developed to treat short bowel syndrome or SBS; dasiglucagon formulated for use in a dual-hormone artificial pancreas system for diabetes management; and dasiglucagon for use in the treatment of congenital hyperinsulinism. The company has out-licensed a peptide program to Boehringer Ingelheim that has been moved ahead into early clinical development: a once-weekly novel dual-acting GLP-1/glucagon agonist for the treatment of obesity and/or Type 2 diabetes.
48GF Score
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