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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.
Icelandair Group hf's Sloan Ratio for the quarter that ended in Jun. 2026 was -10.39%.
As of Jun. 2026, Icelandair Group hf has a Sloan Ratio of -10.39%, indicating there is a warning stage of accrual build up.
Icelandair Group hf (OISE:ICEAIR) 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, Icelandair Group hf has a Sloan Ratio of -10.39%, indicating there is a warning stage of accrual build up.
Icelandair Group hf Sloan Ratio % Related Terms
Icelandair Group hf Sloan Ratio % Historical Data
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The historical data trend for Icelandair Group hf'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.
OISE:ICEAIR vs DAL, UAL, LUV: Sloan Ratio % Comparison
For the Airlines subindustry, Icelandair Group hf'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.
Icelandair Group hf Sloan Ratio % vs Transportation Industry
For the Transportation industry and Industrials sector, Icelandair Group hf's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Icelandair Group hf'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.
Icelandair Group hf's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Icelandair Group hf's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 6947.532 (Sep. 2025 ) + -4319.327 (Dec. 2025 ) + -5488.506 (Mar. 2026 ) + -3916.391 (Jun. 2026 ) = kr-6,777 Mil.
Icelandair Group hf's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was -3160.056 (Sep. 2025 ) + 1018.757 (Dec. 2025 ) + 23832.778 (Mar. 2026 ) + 5122.541 (Jun. 2026 ) = kr26,814 Mil.
Icelandair Group hf's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -3182.77 (Sep. 2025 ) + -5922.13 (Dec. 2025 ) + 513.97 (Mar. 2026 ) + 2547.98 (Jun. 2026 ) = kr-6,043 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.
Icelandair Group hf (OISE:ICEAIR) has a Sloan Ratio % of -10.39% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Icelandair Group hf and its competitors.
Is Icelandair Group hf's Sloan Ratio % too high?
Icelandair Group hf's current Sloan Ratio % is -10.39%. Overall, Icelandair Group hf has a GF Score™ of 58/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Icelandair Group hf's Sloan Ratio % compare to DAL and UAL?
Icelandair Group hf's Sloan Ratio % of -10.39% can be compared against companies in the Transportation 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 Transportation company?
A good Sloan Ratio % depends on the Transportation 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 Icelandair Group hf and its competitors. Icelandair Group hf's current Sloan Ratio % is -10.39%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Icelandair Group hf stock overvalued right now?
Based on GuruFocus' analysis, Icelandair Group hf (OISE:ICEAIR) is currently considered Possible Value Trap. The stock's GF Value™ is kr1.33, compared to a current price of kr0.70 — trading 47.1% below its estimated fair value. The current Sloan Ratio % is -10.39%. Icelandair Group hf's overall GF Score™ is 58/100 with 3 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 Icelandair Group hf (OISE:ICEAIR), the current Sloan Ratio % is -10.39% 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 Icelandair Group hf (OISE:ICEAIR) Overvalued in 2026?
Based on GuruFocus' analysis, Icelandair Group hf stock appears to be undervalued.
The current stock price of kr0.70 is trading 47.1% below its estimated GF Value™ of kr1.33.
GuruFocus considers Icelandair Group hf to be Possible Value Trap.
Key valuation signals for OISE:ICEAIR:
Sloan Ratio %: -10.39%
GF Value™: kr1.33 vs. price of kr0.70 (47.1% below fair value)
No single metric tells the full story. See the OISE:ICEAIR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Icelandair Group hf operates in the international airline sector. Its segment is the Route network, which generates maximum revenue and provides passenger air travel to, from, via, and within Iceland. The Cargo operation offers air-freight services to, from, via, and within Iceland by utilizing capacity within the aircraft of the Icelandair passenger network as well as its own freighter and The Leasing operation, provided by Loftleioir-Icelandic ehf., offers aircraft leasing and consulting services to international passenger airlines and tour operators. The Group operates in North America, which generates maximum revenue, as well as Europe, Iceland, and other regions.
58GF Score
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