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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.
As of Mar. 2026, Iovance Biotherapeutics has a Sloan Ratio of -13.62%, indicating there is a warning stage of accrual build up.
Iovance Biotherapeutics (NAS:IOVA) 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, Iovance Biotherapeutics has a Sloan Ratio of -13.62%, indicating there is a warning stage of accrual build up.
Iovance Biotherapeutics Sloan Ratio % Related Terms
Iovance Biotherapeutics Sloan Ratio % Historical Data
* 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.
IOVA vs SNDX, GLUE, TYRA: Sloan Ratio % Comparison
For the Biotechnology subindustry, Iovance Biotherapeutics'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.
Iovance Biotherapeutics Sloan Ratio % vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Iovance Biotherapeutics's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Iovance Biotherapeutics'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.
Iovance Biotherapeutics's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Iovance Biotherapeutics's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -111.658 (Jun. 2025 ) + -91.253 (Sep. 2025 ) + -71.904 (Dec. 2025 ) + -79.045 (Mar. 2026 ) = $-353.9 Mil.
Iovance Biotherapeutics's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -67.447 (Jun. 2025 ) + -78.702 (Sep. 2025 ) + -52.565 (Dec. 2025 ) + -72.074 (Mar. 2026 ) = $-270.8 Mil.
Iovance Biotherapeutics's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 13.842 (Jun. 2025 ) + 17.012 (Sep. 2025 ) + 0.775 (Dec. 2025 ) + 11.394 (Mar. 2026 ) = $43.0 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.
Iovance Biotherapeutics (IOVA) has a Sloan Ratio % of -13.62% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Iovance Biotherapeutics and its competitors.
Is Iovance Biotherapeutics' Sloan Ratio % too high?
Iovance Biotherapeutics' current Sloan Ratio % is -13.62%. Overall, Iovance Biotherapeutics has a GF Score™ of 45/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Iovance Biotherapeutics' Sloan Ratio % compare to SNDX and GLUE?
Iovance Biotherapeutics' Sloan Ratio % of -13.62% 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 Iovance Biotherapeutics and its competitors. Iovance Biotherapeutics's current Sloan Ratio % is -13.62%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Iovance Biotherapeutics stock overvalued right now?
Based on GuruFocus' analysis, Iovance Biotherapeutics (IOVA) is currently considered Significantly Undervalued. The stock's GF Value™ is $19.12, compared to a current price of $5.31 — trading 72.2% below its estimated fair value. The current Sloan Ratio % is -13.62%. Iovance Biotherapeutics' overall GF Score™ is 45/100 with 5 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 Iovance Biotherapeutics (IOVA), the current Sloan Ratio % is -13.62% 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 Iovance Biotherapeutics (IOVA) Overvalued in 2026?
Based on GuruFocus' analysis, Iovance Biotherapeutics stock appears to be undervalued.
The current stock price of $5.31 is trading 72.2% below its estimated GF Value™ of $19.12.
GuruFocus considers Iovance Biotherapeutics to be Significantly Undervalued.
Key valuation signals for IOVA:
Sloan Ratio %: -13.62%
GF Value™: $19.12 vs. price of $5.31 (72.2% below fair value)
No single metric tells the full story. See the IOVA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Iovance Biotherapeutics Inc is a clinical-stage biopharmaceutical company, pioneering a transformational approach to treating cancer by harnessing the human immune system's ability to recognize and destroy diverse cancer cells using therapies personalized for each patient. The company is preparing for potential U.S. regulatory approvals and commercialization of the first autologous T-cell therapy to address a solid tumor cancer. It operates in one segment, focusing on innovating, developing, and commercializing therapies using its autologous TIL cell therapies for patients with solid tumor cancers. Geographically, the company operates in United States and Rest of the World.
45GF Score
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