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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.
Warisan TC Holdings Bhd (XKLS:5016) 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, Warisan TC Holdings Bhd has a Sloan Ratio of -12.52%, indicating there is a warning stage of accrual build up.
Warisan TC Holdings Bhd Sloan Ratio % Related Terms
Warisan TC Holdings Bhd 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.
For the Conglomerates subindustry, Warisan TC Holdings Bhd'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.
Warisan TC Holdings Bhd Sloan Ratio % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Warisan TC Holdings Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Warisan TC Holdings Bhd'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.
Warisan TC Holdings Bhd's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Warisan TC Holdings Bhd's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -17.339 (Jun. 2025 ) + -8.796 (Sep. 2025 ) + -16.843 (Dec. 2025 ) + -7.631 (Mar. 2026 ) = RM-50.6 Mil.
Warisan TC Holdings Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 3.008 (Jun. 2025 ) + 30.768 (Sep. 2025 ) + -8.979 (Dec. 2025 ) + 1.355 (Mar. 2026 ) = RM26.2 Mil.
Warisan TC Holdings Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -4.211 (Jun. 2025 ) + -5.698 (Sep. 2025 ) + 2.641 (Dec. 2025 ) + 33.622 (Mar. 2026 ) = RM26.4 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.
Warisan TC Holdings Bhd (XKLS:5016) has a Sloan Ratio % of -12.52% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Warisan TC Holdings Bhd and its competitors.
Is Warisan TC Holdings Bhd's Sloan Ratio % too high?
Warisan TC Holdings Bhd's current Sloan Ratio % is -12.52%. Overall, Warisan TC Holdings Bhd has a GF Score™ of 37/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Warisan TC Holdings Bhd's Sloan Ratio % compare to MMM and HON?
Warisan TC Holdings Bhd's Sloan Ratio % of -12.52% can be compared against companies in the Conglomerates 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 Conglomerates company?
A good Sloan Ratio % depends on the Conglomerates 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 Warisan TC Holdings Bhd and its competitors. Warisan TC Holdings Bhd's current Sloan Ratio % is -12.52%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Warisan TC Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, Warisan TC Holdings Bhd (XKLS:5016) is currently considered Possible Value Trap. The stock's GF Value™ is RM1.43, compared to a current price of RM0.63 — trading 55.9% below its estimated fair value. The current Sloan Ratio % is -12.52%. Warisan TC Holdings Bhd's overall GF Score™ is 37/100 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 Warisan TC Holdings Bhd (XKLS:5016), the current Sloan Ratio % is -12.52% 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 Warisan TC Holdings Bhd (XKLS:5016) Overvalued in 2026?
Based on GuruFocus' analysis, Warisan TC Holdings Bhd stock appears to be undervalued.
The current stock price of RM0.63 is trading 55.9% below its estimated GF Value™ of RM1.43.
GuruFocus considers Warisan TC Holdings Bhd to be Possible Value Trap.
Key valuation signals for XKLS:5016:
Sloan Ratio %: -12.52%
GF Value™: RM1.43 vs. price of RM0.63 (55.9% below fair value)
No single metric tells the full story. See the XKLS:5016 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Warisan TC Holdings Bhd is an investment holding company in Malaysia. Its business segments comprise Travel and car rental, Machinery, Automotive, and Others. The travel and car rental division provides inbound tours, corporate travel, outbound tours, airline ticketing, and car and coach rental services. The machinery division provides material handling equipment, forklifts, factory scrubbers, and sweepers; construction equipment (road, earthwork, quarry, and mining), agricultural tractors, golf and turf equipment, engines and generators, and air compressors. The automotive division provides light commercial trucks, heavy commercial trucks, and pickup trucks. Others segment includes property investment, assembly of a passenger vehicle, and consumers product as cosmetics & lingerie.
37GF Score
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