Top 20 Japanese stocks by Accruals ratio (earnings quality) — as of 2026-09-03
We screened 131 Japanese stocks by Accruals ratio (earnings quality) and publish the top 20. As of 2026-09-03, market median -2%. Formula and limitations included.
- Universe
- 131
- Market median
- -2%
- Top decile cutoff
- -11.3%
| Rank | Stock | Accruals ratio |
|---|---|---|
| 1 | ＨＯＵＳＥＩ5035.T | -24.8% |
| 2 | いい生活3796.T | -24.3% |
| 3 | セキド9878.T | -21.4% |
| 4 | インバウンドプラットフォーム5587.T | -17.7% |
| 5 | 大氣社1979.T | -17.7% |
| 6 | 大戸屋ホールディングス2705.T | -16.1% |
| 7 | ＧＡ ｔｅｃｈｎｏｌｏｇｉｅｓ3491.T | -15.1% |
| 8 | 魚喜2683.T | -14.6% |
| 9 | 全保連5845.T | -14.3% |
| 10 | ダイダン1980.T | -14.2% |
| 11 | 大成温調1904.T | -12.5% |
| 12 | Ｈｅａｒｔｓｅｅｄ219A.T | -12.1% |
| 13 | 資生堂4911.T | -11.6% |
| 14 | 日本食品化工2892.T | -11.3% |
| 15 | ユナイテッド＆コレクティブ3557.T | -10.9% |
| 16 | 堺化学工業4078.T | -9.8% |
| 17 | イノベーション3970.T | -9.6% |
| 18 | ベステラ1433.T | -9.4% |
| 19 | 三社電機製作所6882.T | -9% |
| 20 | サイゼリヤ7581.T | -8.7% |
As of 2026-09-03
What this metric measures
The accruals ratio is the share of reported net income not yet backed by cash. Richard Sloan's 1996 paper showed that companies with high accruals subsequently underperform, establishing it as the standard earnings-quality measure. The lower the value, the more of the reported profit is confirmed by actual cash.
How we calculate it
(Net income minus operating cash flow) divided by total assets, sorted ascending. The top of this list is therefore companies whose cash collection exceeds their reported profit.
Limitations of this list
Accruals vary structurally by business model. Subscription and insurance businesses that collect in advance skew negative, while shipbuilding and construction with long receivable cycles skew positive. Do not read a positive value as evidence of manipulation.
Frequently asked questions
Why are low accruals better?
Sloan (1996) showed that earnings driven by accruals revert faster, because profit that never converts to cash cannot persist. A low accruals ratio means the reported profit has been confirmed in cash.
Is a negative accruals ratio always good?
No. One-off charges such as bad debt provisions or asset impairments depress net income and push accruals negative. In that case the driver is a loss, not superior earnings quality.
Can it detect accounting fraud?
It is a warning signal, not a verdict. Dedicated detection models such as the Beneish M-Score exist, and individual stock pages show that value alongside.
Other screens
Cite or embed this data
Top 20 Japanese stocks by Accruals ratio (earnings quality) — as of 2026-09-03 — Market median -2%, Universe 131. Margin Call, https://margincall.online/screener/earnings-quality-jp
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This list is the output of a financial-metric calculation, not investment advice. No single metric supports a buy or sell decision, and past financial data does not guarantee future returns.
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