A Business at a Glance
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ITEM 1. BUSINESS Our Company was founded in 1980 and has grown to become the largest manufacturer of recreational vehicles (“RVs”) in the world. We are also the largest manufacturer of RVs in North America, and one of the largest manufacturers of RVs in Europe. The Company manufactures a wide variety of RVs in the United States (“U.S.”) and Europe, and sells those vehicles, as well as related parts and accessories, primarily to independent, non-franchise dealers throughout the United States, Canada and Europe. We are incorporated in Delaware and are the successor to a corporation of the same name which was incorporated in Nevada on July 29, 1980. Our principal executive office is located at 52700 Independence Ct., Elkhart, Indiana 46514 and our telephone number is (574) 970-7460. Our Internet address is www.thorindustries.com. We maintain copies of our recent filings with the Securities and Exchange Commission (“SEC”), available free of charge, on our web site.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 9.9B | 9.6B | 10.0B | 11.1B | 16.3B | 12.3B |
| Net Income | 300M | 259M | 265M | 374M | 1.1B | 660M |
| EPS | $4.46 | $4.84 | $4.94 | $6.95 | $20.59 | $11.85 |
| Free Cash Flow | 224M | 456M | 406M | 773M | 750M | 395M |
| ROIC | 0.0% | 6.7% | 7.2% | 9.1% | 26.5% | 19.5% |
| Gross Margin | 14.0% | 14.0% | 14.5% | 14.4% | 17.2% | 15.4% |
| Debt/Equity | 0.22 | 0.22 | 0.28 | 0.33 | 0.49 | 0.55 |
| Dividends/Share | $0.00 | $2.00 | $1.92 | $1.80 | $1.72 | $1.64 |
| Operating Income | 0 | 359M | 449M | 597M | 1.5B | 937M |
| Operating Margin | 0.0% | 3.8% | 4.5% | 5.4% | 9.5% | 7.6% |
| ROE | 6.9% | 6.2% | 6.6% | 9.9% | 34.9% | 25.2% |
| Shares Outstanding | 68M | 53M | 54M | 54M | 55M | 56M |
THOR INDUSTRIES INC passes 3 of 9 quality checks, indicating weak fundamentals.
THOR INDUSTRIES INC trades at 14.9x trailing earnings, compared to its 15-year median P/E of 14.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 8.3x vs a median of 12.0x. The company's 5-year average ROIC is 13.8% with a gross margin of 15.1%. Total shareholder yield (dividends + buybacks) is 4.1%. At current prices, the estimated annualized return to fair value is +5.9%.
THOR INDUSTRIES INC (THO) has a current P/E ratio of 14.9, compared to its historical median P/E of 14.2. The stock is currently considered Fair based on its historical valuation range.
THOR INDUSTRIES INC (THO) has a 5-year average return on invested capital (ROIC) of 13.8%. This indicates solid capital allocation.
THOR INDUSTRIES INC (THO) has a market capitalization of $5.3B. It is classified as a mid-cap stock.
Yes, THOR INDUSTRIES INC (THO) pays a dividend with a trailing twelve-month yield of 2.54%. The company also returns capital through share buybacks, with a buyback yield of 1.52%.
Based on historical P/E analysis, THOR INDUSTRIES INC (THO) appears fair. The current P/E of 14.9 is 5% above its historical median of 14.2. The estimated fair value CAGR (P/E method) is 1.3%.
THOR INDUSTRIES INC (THO) operates in the Motor Homes industry, within the Consumer Cyclical sector.
THOR INDUSTRIES INC (THO) reported annual revenue of $9.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
THOR INDUSTRIES INC (THO) has a net profit margin of 2.7%. This is a modest margin.
THOR INDUSTRIES INC (THO) generated $456 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
THOR INDUSTRIES INC (THO) has a debt-to-equity ratio of 0.22. This indicates a conservatively financed balance sheet.
THOR INDUSTRIES INC (THO) reported earnings per share (EPS) of $4.84 in its most recent fiscal year.
THOR INDUSTRIES INC (THO) has a return on equity (ROE) of 6.2%. This indicates moderate shareholder returns.
THOR INDUSTRIES INC (THO) has a 5-year average gross margin of 15.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for THOR INDUSTRIES INC (THO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
THOR INDUSTRIES INC (THO) has a book value per share of $80.28, based on its most recent annual SEC filing.