A Business at a Glance
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LCI INDUSTRIES
LCII
$2.6B
Mkt Cap
$103.35
-1.20%
LCI INDUSTRIES (LCII) has a current P/E ratio of 13.7, compared to its historical median P/E of 16.1. The stock is currently considered Fair based on its historical valuation range.
LCI INDUSTRIES (LCII) has a 5-year average return on invested capital (ROIC) of 10.4%. This indicates solid capital allocation.
LCI INDUSTRIES (LCII) has a market capitalization of $2.5B. It is classified as a mid-cap stock.
Yes, LCI INDUSTRIES (LCII) pays a dividend with a trailing twelve-month yield of 4.49%. The company also returns capital through share buybacks, with a buyback yield of 4.00%.
Based on historical P/E analysis, LCI INDUSTRIES (LCII) appears fair. The current P/E of 13.7 is 15% below its historical median of 16.1. The estimated fair value CAGR (P/E method) is -5.2%.
LCI INDUSTRIES (LCII) operates in the Motor Vehicle Parts & Accessories industry, within the Consumer Cyclical sector.
LCI INDUSTRIES (LCII) reported annual revenue of $4.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Business Focus LCI Industries ("LCII" and collectively with its subsidiaries, the "Company," the "Registrant," "we," "us," or "our"), through its wholly-owned subsidiary, Lippert Components, Inc. and its subsidiaries (collectively, "Lippert Components," "LCI" or "Lippert"), is a global leader in supplying engineered components to the outdoor recreation, transportation, and building products industries. In addition to serving original equipment manufacturers ("OEMs"), we also cater to aftermarket needs, selling through retail dealers, wholesale distributors, and service centers, as well as directly to consumers online. Our operations are global in scope, supporting a diverse customer base across North America and Europe. In 2024, we generated consolidated net sales of $3.7 billion, reflecting strong demand for our broad catalog of innovative and high-quality products.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Chassis, Chassis Parts and Slide-out Mechanisms | $1.32B | $1.56B | $785M | $812M | $895M | 28% |
Windows and Doors | $1.01B | $1.09B | $852M | $839M | $883M | 28% |
Furniture and Mattresses | $702M | $791M | $464M | $404M | $501M | 16% |
Axles and Suspension Solutions | $248M | $307M | $313M | $307M | $317M | 10% |
Appliances | — | — | $216M | $252M | $310M | 10% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.2B | 4.1B | 3.7B | 3.8B | 5.2B | 4.5B |
| Net Income | 202M | 188M | 143M | 64M | 395M | 288M |
| EPS | $8.27 | $7.57 | $5.60 | $2.52 | $15.48 | $11.32 |
| Free Cash Flow | 202M | 278M | 328M | 465M | 472M | -210M |
| ROIC | 9.9% | 9.5% | 7.6% | 3.9% | 16.5% | 14.6% |
| Gross Margin | 24.1% | 23.8% | 23.5% | 20.5% | 24.5% | 23.3% |
| Debt/Equity | 0.68 | 0.91 | 0.72 | 0.82 | 1.00 | 1.35 |
| Dividends/Share | $4.64 | $4.60 | $4.30 | $4.20 | $4.05 | $3.45 |
| Operating Income | 294M | 280M | 218M | 123M | 553M | 398M |
| Operating Margin | 7.0% | 6.8% | 5.8% | 3.3% | 10.6% | 8.9% |
| ROE | 14.5% | 13.7% | 10.4% | 4.7% | 31.9% | 28.8% |
| Shares Outstanding | 24M | 25M | 26M | 25M | 26M | 25M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | N/A | 1.7B | 2.1B | 2.5B | 2.4B | 2.8B | 4.5B | 5.2B | 3.8B | 3.7B | 4.1B | 4.2B |
| Gross Margin | N/A | N/A | 25.5% | 23.0% | 21.0% | 22.7% | 25.3% | 23.3% | 24.5% | 20.5% | 23.5% | 23.8% | 24.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 157M | 186M | 228M | 279M | 322M | 339M | 483M | 645M | 720M | 453M | 465M | 495M | 448M |
| EBIT | 95M | 116M | 201M | 214M | 199M | 200M | 223M | 398M | 553M | 123M | 218M | 280M | 294M |
| Op. Margin | N/A | N/A | 12.0% | 10.0% | 8.0% | 8.4% | 8.0% | 8.9% | 10.6% | 3.3% | 5.8% | 6.8% | 7.0% |
| Net Income | 62M | 74M | 130M | 133M | 149M | 147M | 158M | 288M | 395M | 64M | 143M | 188M | 202M |
| Net Margin | N/A | N/A | 7.7% | 6.2% | 6.0% | 6.2% | 5.7% | 6.4% | 7.6% | 1.7% | 3.8% | 4.6% | 4.8% |
| Non-Recurring | -2.0M | 3.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20M | 20M |
| Returns on Capital | |||||||||||||
| ROIC | 14.6% | 17.0% | 26.2% | 22.5% | 18.4% | 12.3% | 10.9% | 14.6% | 16.5% | 3.9% | 7.6% | 9.5% | 9.9% |
| ROE | 17.6% | 17.8% | 26.2% | 22.1% | 21.9% | 19.4% | 18.5% | 28.8% | 31.9% | 4.7% | 10.4% | 13.7% | 14.5% |
| ROA | 12.5% | 12.7% | 18.4% | 15.3% | 13.6% | 9.4% | 7.6% | 10.3% | 12.1% | 2.1% | 4.9% | 6.2% | 6.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 107M | 95M | 202M | 153M | 157M | 270M | 231M | -112M | 603M | 527M | 370M | 331M | 255M |
| Free Cash Flow | 65M | 66M | 157M | 65M | 37M | 211M | 174M | -210M | 472M | 465M | 328M | 278M | 202M |
| Owner Earnings | 64M | 39M | 140M | 78M | 75M | 178M | 115M | -251M | 450M | 377M | 226M | 187M | 110M |
| CapEx | 42M | 29M | 45M | 87M | 120M | 58M | 57M | 99M | 131M | 62M | 42M | 53M | 53M |
| Maint. CapEx | 33M | 42M | 46M | 55M | 68M | 75M | 98M | 112M | 129M | 132M | 126M | 121M | 121M |
| Growth CapEx | 9.9M | 0 | 0 | 32M | 52M | 0 | 0 | 0 | 1.4M | 0 | 0 | 0 | 0 |
| D&A | 33M | 42M | 46M | 55M | 68M | 75M | 98M | 112M | 129M | 132M | 126M | 121M | 121M |
| CapEx/OCF | 39.7% | 30.5% | 22.0% | 57.1% | 76.5% | 21.6% | 24.8% | N/A | 21.7% | 11.8% | 11.4% | 15.9% | 20.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 48M | 34M | 51M | 59M | 64M | 70M | 87M | 103M | 106M | 109M | 114M | 113M |
| Dividend Yield | N/A | 4.6% | 2.3% | 2.5% | 3.2% | 3.6% | 3.2% | 2.9% | 4.1% | 4.0% | 4.0% | 4.8% | 4.5% |
| Share Buybacks | 0 | 0 | 0 | 0 | 29M | 0 | 0 | 0 | 24M | 0 | 0 | 129M | 100M |
| Buyback Yield | N/A | N/A | N/A | N/A | 2.2% | N/A | N/A | N/A | 1.2% | N/A | N/A | 4.2% | 4.0% |
| Stock-Based Comp | 11M | 14M | 15M | 20M | 14M | 16M | 19M | 27M | 24M | 18M | 19M | 23M | 23M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12M | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 16M | 38M | -36M | 24M | 279M | 697M | 795M | 1.4B | 1.3B | 1.0B | 830M | 1.0B | 803M |
| Cash & Equiv. | 4K | 12M | 86M | 26M | 15M | 35M | 52M | 63M | 47M | 66M | 166M | 223M | 142M |
| Long-Term Debt | 16M | 50M | 50M | 50M | 294M | 613M | 720M | 1.2B | 1.1B | 847M | 757M | 942M | 941M |
| Debt/Equity | 0.04 | 0.11 | 0.09 | 0.08 | 0.42 | 0.91 | 0.93 | 1.35 | 1.00 | 0.82 | 0.72 | 0.91 | 0.68 |
| Interest Coverage | 222.1 | 61.7 | 119.7 | 149.1 | 30.9 | 22.8 | 16.6 | 24.3 | 20.1 | 3.1 | 7.6 | 7.8 | 9.2 |
| Equity | 395M | 439M | 550M | 653M | 706M | 801M | 908M | 1.1B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B |
| Total Assets | 544M | 623M | 787M | 946M | 1.2B | 1.9B | 2.3B | 3.3B | 3.2B | 3.0B | 2.9B | 3.2B | 3.2B |
| Total Liabilities | 149M | 184M | 237M | 293M | 538M | 1.1B | 1.4B | 2.2B | 1.9B | 1.6B | 1.5B | 1.8B | 1.8B |
| Intangibles | 97M | 101M | 113M | 130M | 176M | 341M | 421M | 520M | 503M | 449M | 392M | 403M | 386M |
| Retained Earnings | 277M | 301M | 395M | 476M | 563M | 645M | 732M | 931M | 1.2B | 1.2B | 1.2B | 1.3B | 1.3B |
| Working Capital | 100M | 147M | 218M | 235M | 349M | 400M | 453M | 940M | 969M | 722M | 748M | 876M | 932M |
| Current Assets | 208M | 246M | 367M | 417M | 527M | 671M | 870M | 1.6B | 1.4B | 1.1B | 1.2B | 1.3B | 1.4B |
| Current Liabilities | 107M | 99M | 149M | 182M | 178M | 271M | 416M | 627M | 421M | 395M | 412M | 473M | 488M |
| Per Share Data | |||||||||||||
| EPS | 2.56 | 3.02 | 5.20 | 5.24 | 5.83 | 5.84 | 6.27 | 11.32 | 15.48 | 2.52 | 5.60 | 7.57 | 8.27 |
| Owner EPS | 2.62 | 1.60 | 5.62 | 3.07 | 2.94 | 7.10 | 4.55 | -9.88 | 17.62 | 14.81 | 8.86 | 7.52 | 4.54 |
| Book Value | 16.24 | 17.82 | 22.07 | 25.74 | 27.72 | 31.92 | 35.95 | 43.00 | 54.13 | 53.19 | 54.36 | 54.72 | 57.12 |
| Cash Flow/Share | 4.40 | 3.86 | 8.09 | 6.02 | 6.15 | 10.74 | 9.16 | -4.39 | 23.61 | 20.70 | 14.51 | 13.31 | 13.31 |
| Dividends/Share | 2.00 | 2.00 | 1.40 | 2.05 | 2.35 | 2.55 | 2.80 | 3.45 | 4.05 | 4.20 | 4.30 | 4.60 | 4.64 |
| Shares Out. | 24.3M | 24.6M | 24.9M | 25.4M | 25.5M | 25.1M | 25.3M | 25.4M | 25.5M | 25.5M | 25.5M | 24.9M | 24.3M |
| Valuation | |||||||||||||
| P/E Ratio | 14.5 | 15.0 | 15.9 | 19.4 | 8.9 | 15.2 | 17.9 | 11.6 | 5.3 | 47.1 | 17.5 | 16.3 | 12.5 |
| P/FCF | 14.0 | 16.9 | 13.2 | 39.3 | 35.8 | 10.5 | 16.3 | N/A | 4.4 | 6.5 | 7.6 | 11.1 | 12.5 |
| EV/EBIT | 9.6 | 9.8 | 9.7 | 12.0 | 8.0 | 14.0 | 15.6 | 11.5 | 5.6 | 30.3 | 13.4 | 12.8 | 11.3 |
| Price/Book | 2.3 | 2.6 | 3.8 | 3.9 | 1.9 | 2.8 | 3.1 | 3.0 | 1.5 | 2.2 | 1.8 | 2.3 | 1.8 |
| Price/Sales | 0.7 | 0.7 | 0.9 | 1.0 | 0.8 | 0.8 | 0.8 | 0.7 | 0.5 | 0.7 | 0.7 | 0.6 | 0.6 |
| FCF Yield | 7.1% | 5.9% | 7.6% | 2.5% | 2.8% | 9.5% | 6.1% | -6.3% | 22.7% | 15.4% | 13.1% | 9.0% | 8.0% |
| Market Cap | 905M | 1.1B | 2.1B | 2.6B | 1.3B | 2.2B | 2.8B | 3.3B | 2.1B | 3.0B | 2.5B | 3.1B | 2.5B |
| Avg. Price | 34.58 | 42.44 | 60.76 | 81.66 | 72.96 | 71.58 | 88.32 | 119.42 | 99.25 | 104.48 | 106.34 | 95.54 | 103.35 |
| Year-End Price | 37.23 | 45.44 | 82.81 | 101.45 | 51.67 | 88.58 | 112.14 | 130.95 | 81.38 | 118.70 | 98.12 | 123.71 | 103.35 |
LCI INDUSTRIES passes 4 of 9 quality checks, suggesting mixed fundamentals.
LCI INDUSTRIES trades at 13.7x trailing earnings, compared to its 15-year median P/E of 16.1x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 9.0x vs a median of 11.1x. The company's 5-year average ROIC is 10.4% with a gross margin of 23.1%. Total shareholder yield (dividends + buybacks) is 8.5%. At current prices, the estimated annualized return to fair value is +26.9%.
LCI INDUSTRIES (LCII) has a net profit margin of 4.6%. This is a modest margin.
LCI INDUSTRIES (LCII) generated $278 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LCI INDUSTRIES (LCII) has a debt-to-equity ratio of 0.91. This indicates moderate leverage.
LCI INDUSTRIES (LCII) reported earnings per share (EPS) of $7.57 in its most recent fiscal year.
LCI INDUSTRIES (LCII) has a return on equity (ROE) of 13.7%. This indicates moderate shareholder returns.
LCI INDUSTRIES (LCII) has a 5-year average gross margin of 23.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for LCI INDUSTRIES (LCII), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LCI INDUSTRIES (LCII) has a book value per share of $54.72, based on its most recent annual SEC filing.