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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.
Booking Holdings's Sloan Ratio for the quarter that ended in Mar. 2026 was -10.50%.
As of Mar. 2026, Booking Holdings has a Sloan Ratio of -10.50%, indicating there is a warning stage of accrual build up.
Booking Holdings (FRA:PCE) 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, Booking Holdings has a Sloan Ratio of -10.50%, indicating there is a warning stage of accrual build up.
Booking Holdings Sloan Ratio % Related Terms
Booking Holdings Sloan Ratio % Historical Data
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The historical data trend for Booking Holdings'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.
FRA:PCE vs ABNB, RCL, VIK: Sloan Ratio % Comparison
For the Travel Services subindustry, Booking Holdings'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.
Booking Holdings Sloan Ratio % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Booking Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Booking Holdings'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.
Booking Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Booking Holdings's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 775.965 (Jun. 2025 ) + 2341.296 (Sep. 2025 ) + 1219.512 (Dec. 2025 ) + 936.795 (Mar. 2026 ) = €5,274 Mil.
Booking Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 2775.267 (Jun. 2025 ) + 1222.62 (Sep. 2025 ) + 1272.46 (Dec. 2025 ) + 2780.975 (Mar. 2026 ) = €8,051 Mil.
Booking Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -52.887 (Jun. 2025 ) + -53.676 (Sep. 2025 ) + -60.634 (Dec. 2025 ) + -92.555 (Mar. 2026 ) = €-260 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.
Booking Holdings (FRA:PCE) has a Sloan Ratio % of -10.50% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Booking Holdings and its competitors.
Is Booking Holdings' Sloan Ratio % too high?
Booking Holdings' current Sloan Ratio % is -10.50%. Overall, Booking Holdings has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Booking Holdings' Sloan Ratio % compare to ABNB and RCL?
Booking Holdings' Sloan Ratio % of -10.50% can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Sloan Ratio % depends on the Travel & Leisure 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 Booking Holdings and its competitors. Booking Holdings's current Sloan Ratio % is -10.50%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Booking Holdings stock overvalued right now?
Based on GuruFocus' analysis, Booking Holdings (FRA:PCE) is currently considered Modestly Undervalued. The stock's GF Value™ is €20.97, compared to a current price of €18.90 — trading 9.9% below its estimated fair value. The current Sloan Ratio % is -10.50%. Booking Holdings' overall GF Score™ is 94/100 with 2 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 Booking Holdings (FRA:PCE), the current Sloan Ratio % is -10.50% 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.
Is Booking Holdings (FRA:PCE) Overvalued in 2026?
Based on GuruFocus' analysis, Booking Holdings stock appears to be undervalued.
The current stock price of €18.90 is trading 9.9% below its estimated GF Value™ of €20.97.
GuruFocus considers Booking Holdings to be Modestly Undervalued.
Key valuation signals for FRA:PCE:
Sloan Ratio %: -10.50%
GF Value™: €20.97 vs. price of €18.90 (9.9% below fair value)
No single metric tells the full story. See the FRA:PCE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Booking is the world's largest online travel agency by sales, offering booking and payment services for hotel and alternative accommodation rooms, airlines, rental cars, restaurants, cruises, experiences, and other vacation packages. The company operates several branded travel booking sites, including Booking.com, Agoda, OpenTable, Rentalcars.com, and Kayak. Transaction fees for online bookings account for the bulk of revenue and profits.
94GF 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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