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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.
Thor Industries's Sloan Ratio for the quarter that ended in Apr. 2026 was -0.21%.
As of Apr. 2026, Thor Industries has a Sloan Ratio of -0.21%, indicating the company is in the safe zone and there is no funny business with accruals.
Thor Industries (NYSE:THO) 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 Apr. 2026, Thor Industries has a Sloan Ratio of -0.21%, indicating the company is in the safe zone and there is no funny business with accruals.
Thor Industries Sloan Ratio % Related Terms
Thor Industries Sloan Ratio % Historical Data
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The historical data trend for Thor Industries'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.
For the Recreational Vehicles subindustry, Thor Industries'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.
Thor Industries Sloan Ratio % vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Thor Industries's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Thor Industries'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.
Thor Industries's Sloan Ratio for the fiscal year that ended in Jul. 2025 is calculated as
Thor Industries's Net Income for the trailing twelve months (TTM) ended in Apr. 2026 was 125.757 (Jul. 2025 ) + 21.669 (Oct. 2025 ) + 17.803 (Jan. 2026 ) + 97.229 (Apr. 2026 ) = $262 Mil.
Thor Industries's Cash Flow from Operations for the trailing twelve months (TTM) ended in Apr. 2026 was 258.674 (Jul. 2025 ) + -44.867 (Oct. 2025 ) + -112.241 (Jan. 2026 ) + 234.154 (Apr. 2026 ) = $336 Mil.
Thor Industries's Cash Flow from Investing for the trailing twelve months (TTM) ended in Apr. 2026 was 2.877 (Jul. 2025 ) + -20.762 (Oct. 2025 ) + -10.448 (Jan. 2026 ) + -30.027 (Apr. 2026 ) = $-58 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.
Thor Industries (THO) has a Sloan Ratio % of -0.21% as of Apr. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Thor Industries and its competitors.
Is Thor Industries' Sloan Ratio % too high?
Thor Industries' current Sloan Ratio % is -0.21%. Overall, Thor Industries has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thor Industries' Sloan Ratio % compare to PII and PATK?
Thor Industries' Sloan Ratio % of -0.21% can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Sloan Ratio % depends on the Vehicles & Parts 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 Thor Industries and its competitors. Thor Industries's current Sloan Ratio % is -0.21%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thor Industries stock overvalued right now?
Based on GuruFocus' analysis, Thor Industries (THO) is currently considered Modestly Undervalued. The stock's GF Value™ is $95.28, compared to a current price of $76.54 — trading 19.7% below its estimated fair value. The current Sloan Ratio % is -0.21%. Thor Industries' overall GF Score™ is 73/100 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 Thor Industries (THO), the current Sloan Ratio % is -0.21% as of Apr. 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 Thor Industries (THO) Overvalued in 2026?
Based on GuruFocus' analysis, Thor Industries stock appears to be undervalued.
The current stock price of $76.54 is trading 19.7% below its estimated GF Value™ of $95.28.
GuruFocus considers Thor Industries to be Modestly Undervalued.
Key valuation signals for THO:
Sloan Ratio %: -0.21%
GF Value™: $95.28 vs. price of $76.54 (19.7% below fair value)
No single metric tells the full story. See the THO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Based in Elkhart, Indiana, Thor Industries manufactures Class A, Class B, and Class C motor homes along with travel trailers and fifth-wheel towables across about 35 brands. Through the acquisition of Erwin Hymer in 2019, the company expanded its geographic footprint and now produces various motorized and towable recreational vehicles for Europe, including motor caravans, camper vans, urban vehicles, caravans, and other RV-related products and services. The company has also begun generating revenue through aftermarket component parts via the acquisition of Airxcel in 2021; however, this is still a nascent part of the business, as it accounted for less than 10% of fiscal 2025 total sales. In fiscal 2025, the company wholesaled 181,388 units and generated $9.6 billion in revenue.
73GF Score
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