A Business at a Glance
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WINNEBAGO INDUSTRIES INC
WGO
$869M
Mkt Cap
$30.77
+2.33%
WINNEBAGO INDUSTRIES INC (WGO) has a current P/E ratio of 24.0, compared to its historical median P/E of 10.5. The stock is currently considered Expensive based on its historical valuation range.
WINNEBAGO INDUSTRIES INC (WGO) has a 5-year average return on invested capital (ROIC) of 16.6%. This indicates strong capital allocation and a potential competitive advantage.
WINNEBAGO INDUSTRIES INC (WGO) has a market capitalization of $1.6B. It is classified as a small-cap stock.
Yes, WINNEBAGO INDUSTRIES INC (WGO) pays a dividend with a trailing twelve-month yield of 2.46%. The company also returns capital through share buybacks, with a buyback yield of 0.11%.
Based on historical P/E analysis, WINNEBAGO INDUSTRIES INC (WGO) appears expensive. The current P/E of 24.0 is 129% above its historical median of 10.5. The estimated fair value CAGR (P/E method) is -9.1%.
WINNEBAGO INDUSTRIES INC (WGO) operates in the Motor Homes industry, within the Consumer Cyclical sector.
The use of the terms "Winnebago Industries," "Winnebago," "we," "our," and "us" in this Annual Report on Form 10-K, unless the context otherwise requires, refer to Winnebago Industries, Inc. and its wholly-owned subsidiaries. Winnebago Industries, Inc. is a leading North American manufacturer of outdoor lifestyle products under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta brands, which are used primarily in leisure travel and outdoor recreation activities. We also design and manufacture advanced battery solutions that deliver “house power,” supporting internal electrical features and appliances for a variety of outdoor products including RVs, boats, specialty and other low-speed vehicles, as well as other industrial applications. Other products manufactured by us consist primarily of original equipment manufacturing parts for other manufacturers and commercial vehicles.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.9B | 2.8B | 3.0B | 3.5B | 5.0B | 3.6B |
| Net Income | 42M | 26M | 13M | 216M | 391M | 282M |
| EPS | $0.80 | $0.91 | $0.44 | $6.23 | $11.84 | $8.28 |
| Free Cash Flow | 126M | 90M | 99M | 211M | 313M | 192M |
| ROIC | 3.8% | 3.1% | 3.7% | 14.6% | 33.1% | 28.4% |
| Gross Margin | 13.0% | 13.0% | 14.6% | 16.8% | 18.7% | 17.9% |
| Debt/Equity | 0.36 | 0.44 | 0.55 | 0.43 | 0.43 | 0.50 |
| Dividends/Share | $0.76 | $1.37 | $1.27 | $1.12 | $0.81 | $0.66 |
| Operating Income | 76M | 57M | 100M | 301M | 584M | 407M |
| Operating Margin | 2.6% | 2.0% | 3.4% | 8.6% | 11.8% | 11.2% |
| ROE | 3.4% | 2.1% | 1.0% | 16.4% | 33.7% | 29.9% |
| Shares Outstanding | 52M | 28M | 30M | 35M | 33M | 34M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 945M | 977M | 975M | 1.5B | 2.0B | 2.0B | 2.4B | 3.6B | 5.0B | 3.5B | 3.0B | 2.8B | 2.9B |
| Gross Margin | 11.0% | 10.7% | 11.6% | 14.4% | 14.9% | 15.5% | 13.3% | 17.9% | 18.7% | 16.8% | 14.6% | 13.0% | 13.0% |
| R&D | 4.3M | 3.9M | 4.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 22M | 30M | 33M | 98M | 130M | 142M | 177M | 229M | 316M | 268M | 280M | 286M | 282M |
| EBIT | 64M | 59M | 66M | 125M | 160M | 155M | 114M | 407M | 584M | 301M | 100M | 57M | 76M |
| Op. Margin | 6.8% | 6.1% | 6.7% | 8.1% | 8.0% | 7.8% | 4.8% | 11.2% | 11.8% | 8.6% | 3.4% | 2.0% | 2.6% |
| Net Income | 45M | 41M | 45M | 71M | 102M | 112M | 61M | 282M | 391M | 216M | 13M | 26M | 42M |
| Net Margin | 4.8% | 4.2% | 4.7% | 4.6% | 5.1% | 5.6% | 2.6% | 7.8% | 7.9% | 6.2% | 0.4% | 0.9% | 1.4% |
| Non-Recurring | 691K | 476K | -2K | 0 | 0 | 0 | 0 | 4.8M | 0 | 0 | 30M | 2.9M | 2.9M |
| Returns on Capital | |||||||||||||
| ROIC | 36.9% | 28.8% | 27.1% | 19.0% | 15.3% | 14.9% | 9.6% | 28.4% | 33.1% | 14.6% | 3.7% | 3.1% | 3.8% |
| ROE | 24.8% | 19.9% | 18.6% | 20.1% | 21.0% | 19.2% | 8.4% | 29.9% | 33.7% | 16.4% | 1.0% | 2.1% | 3.4% |
| ROA | 13.5% | 11.4% | 12.1% | 11.0% | 10.5% | 10.4% | 4.4% | 14.9% | 17.4% | 8.9% | 0.5% | 1.1% | 2.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 23M | 45M | 53M | 97M | 83M | 134M | 270M | 237M | 401M | 295M | 144M | 129M | 157M |
| Free Cash Flow | 13M | 29M | 28M | 83M | 55M | 93M | 238M | 192M | 313M | 211M | 99M | 90M | 126M |
| Owner Earnings | 16M | 38M | 44M | 62M | 57M | 103M | 226M | 189M | 330M | 237M | 71M | 52M | 297M |
| CapEx | 10M | 17M | 25M | 14M | 29M | 41M | 32M | 45M | 88M | 83M | 45M | 39M | 31M |
| Maint. CapEx | 4.0M | 4.5M | 5.7M | 32M | 19M | 23M | 38M | 33M | 54M | 47M | 59M | 61M | -156M |
| Growth CapEx | 6.5M | 12M | 19M | 0 | 9.5M | 18M | 0 | 12M | 34M | 36M | 0 | 0 | 187M |
| D&A | 4.0M | 4.5M | 5.7M | 32M | 19M | 23M | 38M | 33M | 54M | 47M | 59M | 61M | -156M |
| CapEx/OCF | 45.1% | 36.7% | 46.5% | 14.4% | 34.4% | 30.5% | 12.0% | 18.9% | 22.0% | 28.3% | 31.3% | 30.6% | 19.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 9.8M | 11M | 13M | 13M | 14M | 15M | 16M | 24M | 33M | 37M | 39M | 39M |
| Dividend Yield | N/A | 2.0% | 2.3% | 1.6% | 1.1% | 1.5% | 1.0% | 0.8% | 1.3% | 1.7% | 2.1% | 3.3% | 2.5% |
| Share Buybacks | 26M | 6.5M | 3.1M | 1.5M | 6.5M | 8.2M | 1.8M | 48M | 214M | 55M | 75M | 54M | 1.8M |
| Buyback Yield | 4.8% | 1.4% | 0.6% | 0.2% | 0.6% | 0.9% | 0.1% | 2.1% | 11.6% | 2.7% | 4.5% | 5.4% | 0.1% |
| Stock-Based Comp | 3.4M | 3.1M | 3.3M | 3.0M | 7.4M | 7.1M | 6.5M | 15M | 17M | 11M | 15M | 16M | 16M |
| Debt Repayment | 0 | 0 | 0 | 11M | 589K | 0 | 18M | 200K | 1.2M | 0 | 69M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | -86M | 239M | 289M | 217M | 220M | 95M | 265M | 283M | 365M | 367M | 395M |
| Cash & Equiv. | 58M | 70M | 86M | 36M | 2.3M | 37M | 293M | 435M | 282M | 310M | 331M | 174M | 47M |
| Long-Term Debt | N/A | N/A | 0 | 272M | 291M | 245M | 513M | 529M | 546M | 592M | 637M | 541M | 442M |
| Debt/Equity | 0.86 | 0.64 | 0.00 | 0.62 | 0.55 | 0.40 | 0.62 | 0.50 | 0.43 | 0.43 | 0.55 | 0.44 | 0.36 |
| Interest Coverage | N/A | N/A | N/A | 7.4 | 8.8 | 8.7 | 3.0 | 10.1 | 14.1 | 14.7 | 4.7 | 2.2 | 2.2 |
| Equity | 193M | 221M | 268M | 442M | 534M | 632M | 828M | 1.1B | 1.3B | 1.4B | 1.3B | 1.2B | 1.2B |
| Total Assets | 358M | 362M | 391M | 903M | 1.1B | 1.1B | 1.7B | 2.1B | 2.4B | 2.4B | 2.4B | 2.2B | 2.1B |
| Total Liabilities | 166M | 141M | 122M | 461M | 517M | 472M | 886M | 1.0B | 1.2B | 1.1B | 1.1B | 930M | 816M |
| Intangibles | N/A | N/A | 0 | 228M | 266M | 256M | 405M | 390M | 472M | 502M | 479M | 457M | 446M |
| Retained Earnings | 554M | 586M | 621M | 679M | 769M | 867M | 914M | 1.2B | 1.5B | 1.7B | 1.7B | 1.7B | 1.7B |
| Working Capital | 172M | 185M | 188M | 147M | 168M | 213M | 413M | 652M | 572M | 601M | 584M | 465M | 403M |
| Current Assets | 272M | 266M | 281M | 314M | 372M | 411M | 714M | 1.1B | 1.1B | 997M | 989M | 792M | 715M |
| Current Liabilities | 100M | 82M | 93M | 167M | 204M | 198M | 300M | 407M | 522M | 396M | 405M | 327M | 311M |
| Per Share Data | |||||||||||||
| EPS | 1.64 | 1.52 | 1.68 | 2.32 | 3.22 | 3.52 | 1.84 | 8.28 | 11.84 | 6.23 | 0.44 | 0.91 | 0.80 |
| Owner EPS | 0.58 | 1.39 | 1.61 | 2.02 | 1.78 | 3.25 | 6.76 | 5.56 | 10.00 | 6.83 | 2.39 | 1.86 | 5.74 |
| Book Value | 7.02 | 8.15 | 9.91 | 14.37 | 16.81 | 19.91 | 24.78 | 31.04 | 38.28 | 39.48 | 43.10 | 43.36 | 23.84 |
| Cash Flow/Share | 0.85 | 1.67 | 1.95 | 3.16 | 2.62 | 4.21 | 8.10 | 6.97 | 12.14 | 8.50 | 4.87 | 4.56 | -2.21 |
| Dividends/Share | 0.00 | 0.36 | 0.40 | 0.40 | 0.40 | 0.43 | 0.45 | 0.66 | 0.81 | 1.12 | 1.27 | 1.37 | 0.76 |
| Shares Out. | 27.5M | 27.1M | 27.1M | 30.7M | 31.8M | 31.8M | 33.4M | 34.0M | 33.0M | 34.7M | 29.5M | 28.2M | 51.8M |
| Valuation | |||||||||||||
| P/E Ratio | 12.3 | 11.3 | 12.2 | 13.6 | 10.5 | 8.1 | 28.5 | 8.0 | 4.7 | 9.5 | 128.6 | 38.7 | 38.3 |
| P/FCF | 43.4 | 16.3 | 19.7 | 11.7 | 19.7 | 9.7 | 7.3 | 11.7 | 5.9 | 9.7 | 16.9 | 11.1 | 12.7 |
| EV/EBIT | N/A | N/A | 5.8 | 9.4 | 8.5 | 7.0 | 14.7 | 4.7 | 3.1 | 6.7 | 17.6 | 20.7 | 26.2 |
| Price/Book | 2.9 | 2.1 | 2.1 | 2.2 | 2.0 | 1.4 | 2.1 | 2.1 | 1.5 | 1.5 | 1.3 | 0.8 | 1.3 |
| Price/Sales | 0.6 | 0.5 | 0.5 | 0.5 | 0.6 | 0.5 | 0.6 | 0.6 | 0.4 | 0.6 | 0.6 | 0.4 | 0.5 |
| FCF Yield | 2.3% | 6.2% | 5.1% | 8.6% | 5.1% | 10.3% | 13.6% | 8.6% | 16.9% | 10.3% | 5.9% | 9.0% | 7.9% |
| Market Cap | 554M | 465M | 555M | 972M | 1.1B | 901M | 1.7B | 2.2B | 1.8B | 2.1B | 1.7B | 994M | 1.6B |
| Avg. Price | 21.36 | 18.38 | 17.67 | 26.26 | 37.87 | 28.40 | 44.31 | 59.33 | 57.14 | 55.51 | 59.31 | 41.74 | 30.77 |
| Year-End Price | 20.15 | 17.15 | 20.48 | 31.60 | 33.82 | 28.37 | 52.39 | 66.07 | 55.98 | 59.27 | 56.58 | 35.18 | 30.77 |
WINNEBAGO INDUSTRIES INC passes 2 of 9 quality checks, indicating weak fundamentals.
WINNEBAGO INDUSTRIES INC trades at 24.0x trailing earnings, compared to its 15-year median P/E of 10.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 6.4x vs a median of 11.4x. The company's 5-year average ROIC is 16.6% with a gross margin of 16.2%. Total shareholder yield (dividends + buybacks) is 2.6%. At current prices, the estimated annualized return to fair value is +1.5%.
WINNEBAGO INDUSTRIES INC (WGO) reported annual revenue of $2.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
WINNEBAGO INDUSTRIES INC (WGO) has a net profit margin of 0.9%. This is a modest margin.
WINNEBAGO INDUSTRIES INC (WGO) generated $90 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
WINNEBAGO INDUSTRIES INC (WGO) has a debt-to-equity ratio of 0.44. This indicates a conservatively financed balance sheet.
WINNEBAGO INDUSTRIES INC (WGO) reported earnings per share (EPS) of $0.91 in its most recent fiscal year.
WINNEBAGO INDUSTRIES INC (WGO) has a return on equity (ROE) of 2.1%. This indicates moderate shareholder returns.
WINNEBAGO INDUSTRIES INC (WGO) has a 5-year average gross margin of 16.2%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for WINNEBAGO INDUSTRIES INC (WGO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
WINNEBAGO INDUSTRIES INC (WGO) has a book value per share of $43.36, based on its most recent annual SEC filing.