Abstract This paper investigates whether the stock market precisely price non-financial indicators, namely, whether the stock market exists non-financial indicators based anomaly?Data obtaining limitation, we simply acquire patents and trademarks information, both are the main resources of the company’s profit. Hence, we examine two non-financial indicators-patents and trademarks. If the stock market misprices non-financial indicators, we can extend a portfolio strategy to earn abnormal returns according to non-financial indicators. Further, we investigate whether the stock market in Taiwan exists accrual-based anomaly and whether it relates to the non-financial indicators anomaly.