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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.
KLX Energy Services Holdings (NAS:KLXE) 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 Jun. 2026, KLX Energy Services Holdings has a Sloan Ratio of -16.59%, indicating there is a warning stage of accrual build up.
KLX Energy Services Holdings Sloan Ratio % Related Terms
KLX Energy Services Holdings 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.
KLXE vs KLNG, STAK, GWTI: Sloan Ratio % Comparison
For the Oil & Gas Equipment & Services subindustry, KLX Energy Services 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.
KLX Energy Services Holdings Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, KLX Energy Services Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where KLX Energy Services Holdings's Sloan Ratio % falls into.
KLX Energy Services Holdings Sloan Ratio % Calculation
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.
KLX Energy Services Holdings's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was -14.3 (Sep. 2025 ) + -15 (Dec. 2025 ) + -24 (Mar. 2026 ) + -8.4 (Jun. 2026 ) = $-61.7 Mil.
KLX Energy Services Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 13.5 (Sep. 2025 ) + 12.5 (Dec. 2025 ) + 0.3 (Mar. 2026 ) + 10.5 (Jun. 2026 ) = $36.8 Mil.
KLX Energy Services Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -7.8 (Sep. 2025 ) + -3.8 (Dec. 2025 ) + -5.3 (Mar. 2026 ) + -19.9 (Jun. 2026 ) = $-36.8 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.
KLX Energy Services Holdings (KLXE) has a Sloan Ratio % of -16.59% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on KLX Energy Services Holdings and its competitors.
Is KLX Energy Services Holdings' Sloan Ratio % too high?
KLX Energy Services Holdings' current Sloan Ratio % is -16.59%. Overall, KLX Energy Services Holdings has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does KLX Energy Services Holdings' Sloan Ratio % compare to KLNG and STAK?
KLX Energy Services Holdings' Sloan Ratio % of -16.59% can be compared against companies in the Oil & Gas 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 an Oil & Gas company?
A good Sloan Ratio % depends on the Oil & Gas 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 KLX Energy Services Holdings and its competitors. KLX Energy Services Holdings's current Sloan Ratio % is -16.59%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KLX Energy Services Holdings stock overvalued right now?
Based on GuruFocus' analysis, KLX Energy Services Holdings (KLXE) is currently considered Possible Value Trap. The stock's GF Value™ is $3.12, compared to a current price of $1.52 — trading 51.3% below its estimated fair value. The current Sloan Ratio % is -16.59%. KLX Energy Services Holdings' overall GF Score™ is 42/100 with 4 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 KLX Energy Services Holdings (KLXE), the current Sloan Ratio % is -16.59% as of Jun. 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 KLX Energy Services Holdings (KLXE) Overvalued in 2026?
Based on GuruFocus' analysis, KLX Energy Services Holdings stock appears to be undervalued.
The current stock price of $1.52 is trading 51.3% below its estimated GF Value™ of $3.12.
GuruFocus considers KLX Energy Services Holdings to be Possible Value Trap.
Key valuation signals for KLXE:
Sloan Ratio %: -16.59%
GF Value™: $3.12 vs. price of $1.52 (51.3% below fair value)
No single metric tells the full story. See the KLXE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KLX Energy Services Holdings Inc is a growth-oriented provider of diversified oilfield services to onshore oil and natural gas exploration and production (E&P) companies operating in both conventional and unconventional plays in all of the active basins throughout the United States. It serves the companies engaged in the exploration and development of onshore conventional and unconventional oil and natural gas reserves. Its products and services offerings include surface facilities and equipment, pressure control services, wireline services, fishing services, and engineered products. The company's segments include Southwest; Rocky Mountains and Northeast/Mid-Con region. It derives maximum revenue from Southwest region.
42GF Score
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