Top 20 Korean stocks by Accruals ratio (earnings quality) — as of 2026-09-03
We screened 429 Korean stocks by Accruals ratio (earnings quality) and publish the top 20. As of 2026-09-03, market median -2.4%. Formula and limitations included.
- Universe
- 429
- Market median
- -2.4%
- Top decile cutoff
- -11.4%
| Rank | Stock | Accruals ratio |
|---|---|---|
| 1 | 아센디오012170.KS | -52.3% |
| 2 | 광명전기017040.KS | -46.5% |
| 3 | 한국첨단소재062970.KQ | -43.7% |
| 4 | 팜젠사이언스004720.KS | -43.6% |
| 5 | 드래곤플라이030350.KQ | -40.3% |
| 6 | 루트K195990.KQ | -39.1% |
| 7 | STX011810.KS | -38.7% |
| 8 | 티웨이홀딩스004870.KS | -33.7% |
| 9 | LK삼양225190.KQ | -33.3% |
| 10 | 파라택시스코리아288330.KQ | -31.5% |
| 11 | 진원생명과학011000.KS | -26.1% |
| 12 | 아이톡시052770.KQ | -23.1% |
| 13 | 디와이에이002880.KS | -22.2% |
| 14 | 지누스013890.KS | -20.8% |
| 15 | 엠젠솔루션032790.KQ | -20.6% |
| 16 | 보성파워텍006910.KQ | -20.3% |
| 17 | 이원컴포텍088290.KQ | -19.5% |
| 18 | 아이에이038880.KQ | -19.4% |
| 19 | 파인디앤씨049120.KQ | -18.8% |
| 20 | 제이스코홀딩스023440.KQ | -18.5% |
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 Korean stocks by Accruals ratio (earnings quality) — as of 2026-09-03 — Market median -2.4%, Universe 429. Margin Call, https://margincall.online/screener/earnings-quality-kr
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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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