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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.
Travel+Leisure Co's Sloan Ratio for the quarter that ended in Jun. 2026 was -2.96%.
As of Jun. 2026, Travel+Leisure Co has a Sloan Ratio of -2.96%, indicating the company is in the safe zone and there is no funny business with accruals.
Travel+Leisure Co (NYSE:TNL) 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, Travel+Leisure Co has a Sloan Ratio of -2.96%, indicating the company is in the safe zone and there is no funny business with accruals.
Travel+Leisure Co Sloan Ratio % Related Terms
Travel+Leisure Co Sloan Ratio % Historical Data
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The historical data trend for Travel+Leisure Co'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 Travel Services subindustry, Travel+Leisure Co'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.
Travel+Leisure Co Sloan Ratio % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Travel+Leisure Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Travel+Leisure Co'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.
Travel+Leisure Co's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Travel+Leisure Co's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 111 (Sep. 2025 ) + -61 (Dec. 2025 ) + 79 (Mar. 2026 ) + 109 (Jun. 2026 ) = $238 Mil.
Travel+Leisure Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 163 (Sep. 2025 ) + 124 (Dec. 2025 ) + 38 (Mar. 2026 ) + 220 (Jun. 2026 ) = $545 Mil.
Travel+Leisure Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -30 (Sep. 2025 ) + -29 (Dec. 2025 ) + -18 (Mar. 2026 ) + -26 (Jun. 2026 ) = $-103 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.
Travel+Leisure Co (TNL) has a Sloan Ratio % of -2.96% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Travel+Leisure Co and its competitors.
Is Travel+Leisure Co's Sloan Ratio % too high?
Travel+Leisure Co's current Sloan Ratio % is -2.96%. Overall, Travel+Leisure Co has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Travel+Leisure Co's Sloan Ratio % compare to MMYT and GBTG?
Travel+Leisure Co's Sloan Ratio % of -2.96% 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 Travel+Leisure Co and its competitors. Travel+Leisure Co's current Sloan Ratio % is -2.96%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Travel+Leisure Co stock overvalued right now?
Based on GuruFocus' analysis, Travel+Leisure Co (TNL) is currently considered Modestly Overvalued. The stock's GF Value™ is $59.40, compared to a current price of $71.10 — trading 19.7% above its estimated fair value. The current Sloan Ratio % is -2.96%. Travel+Leisure Co's overall GF Score™ is 82/100 with 8 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 Travel+Leisure Co (TNL), the current Sloan Ratio % is -2.96% 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 Travel+Leisure Co (TNL) Overvalued in 2026?
Based on GuruFocus' analysis, Travel+Leisure Co stock appears to be overvalued.
The current stock price of $71.10 is trading 19.7% above its estimated GF Value™ of $59.40.
GuruFocus considers Travel+Leisure Co to be Modestly Overvalued.
Key valuation signals for TNL:
Sloan Ratio %: -2.96%
GF Value™: $59.40 vs. price of $71.10 (19.7% above fair value)
No single metric tells the full story. See the TNL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Travel+Leisure Co is a membership and leisure travel company. It provides hospitality services and travel products. The company operates in the segments of Vacation Ownership, which is the key revenue-driving segment, develops, markets and sells vacation ownership interests (VOIs) to individual consumers, provides consumer financing in connection with the sale of VOIs, and provides property management services at resorts, and Travel and Membership which operates a variety of travel businesses, including two vacation exchange brands, Vacation Ownership and Travel and Membership The majority of the revenue is earned from the United States.
82GF Score
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