LCI INDUSTRIES LCII
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, marine, and housing 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 direct-to-consumer sales through online platforms.
Our operations are global in scope, supporting a diverse customer base across North America and Europe. In 2025, we generated consolidated net sales of $4.1 billion, reflecting strong demand for our broad catalog of innovative and high-quality products. Our diverse portfolio of innovative and high-quality products includes:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.12B | $3.74B | $3.78B | $5.21B | $4.47B | $2.80B | $2.37B | $2.48B | $2.15B | $1.68B |
| Cost of revenue | $3.14B | $2.86B | $3.01B | $3.93B | $3.43B | $2.09B | $1.83B | $1.96B | $1.65B | $1.25B |
| Gross profit | $980.3M | $879.7M | $776.2M | $1.27B | $1.04B | $706.1M | $539.2M | $520.3M | $493.1M | $428.9M |
| SG&A | $495.3M | $465.0M | $453.3M | $720.3M | $644.6M | $483.2M | $339.0M | $321.6M | $278.8M | $228.1M |
| Operating income | $279.9M | $218.2M | $123.4M | $553.0M | $398.4M | $222.9M | $200.2M | $198.8M | $214.3M | $200.8M |
| Interest expense | $35.7M | $28.9M | $40.4M | $27.6M | $16.4M | $13.5M | $8.8M | $6.4M | $1.4M | $1.7M |
| Pre-tax income | $255.1M | $189.3M | $83.0M | $525.5M | $382.0M | $209.5M | $191.4M | $192.4M | $212.8M | $199.2M |
| Income tax | $66.8M | $46.5M | $18.8M | $130.5M | $94.3M | $51.0M | $44.9M | $43.8M | $80.0M | $69.5M |
| Net income | $188.2M | $142.9M | $64.2M | $395.0M | $287.7M | $158.4M | $146.5M | $148.6M | $132.9M | $129.7M |
| EPS, basic | 7.59 | 5.61 | 2.54 | 15.57 | 11.39 | 6.30 | 5.86 | 5.90 | 5.31 | 5.26 |
| EPS, diluted | 7.57 | 5.60 | 2.52 | 15.48 | 11.32 | 6.27 | 5.84 | 5.83 | 5.24 | 5.20 |
| Shares, diluted (wtd. avg.) | $24.9M | $25.5M | $25.4M | $25.5M | $25.4M | $25.3M | $25.1M | $25.5M | $25.4M | $24.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $222.6M | $165.8M | $66.2M | $47.5M | $62.9M | $51.8M | $35.4M | $14.9M | $26.0M | $86.2M |
| Receivables | $243.4M | $199.6M | $214.7M | $214.3M | $319.8M | $268.6M | $200.0M | $121.8M | $82.2M | $57.4M |
| Inventory | $809.1M | $736.6M | $768.4M | $1.03B | $1.10B | $493.9M | $393.6M | $340.6M | $274.7M | $188.7M |
| Total current assets | $1.35B | $1.16B | $1.12B | $1.39B | $1.57B | $869.8M | $670.8M | $526.7M | $417.1M | $367.4M |
| Property, plant and equipment | $428.0M | $432.7M | $465.8M | $482.2M | $426.5M | $387.2M | $366.3M | $322.9M | $228.9M | $172.7M |
| Goodwill | $622.2M | $585.8M | $589.5M | $567.1M | $543.2M | $454.7M | $351.1M | $180.2M | $124.2M | $89.2M |
| Other intangibles | $402.6M | $392.0M | $448.8M | $503.3M | $520.0M | $420.9M | $341.4M | $176.3M | $130.1M | $112.9M |
| Total assets | $3.18B | $2.89B | $2.96B | $3.25B | $3.29B | $2.30B | $1.86B | $1.24B | $945.9M | $786.9M |
| Short-term debt | $3.7M | $423.0K | $589.0K | $23.1M | $71.0M | $17.8M | $17.9M | $596.0K | $0 | — |
| Total current liabilities | $473.4M | $412.1M | $395.0M | $421.3M | $627.2M | $416.4M | $271.3M | $177.6M | $182.0M | $149.4M |
| Long-term debt | $941.5M | $756.8M | $846.8M | $1.10B | $1.23B | $720.4M | $612.9M | $293.5M | $49.9M | $49.9M |
| Total liabilities | $1.82B | $1.51B | $1.60B | $1.87B | $2.20B | $1.39B | $1.06B | $537.6M | $293.1M | $236.6M |
| Retained earnings | $1.28B | $1.21B | $1.18B | $1.22B | $930.8M | $731.7M | $644.9M | $563.5M | $475.5M | $395.3M |
| Total equity | $1.36B | $1.39B | $1.36B | $1.38B | $1.09B | $908.3M | $800.7M | $706.3M | $652.7M | $550.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $331.0M | $370.3M | $527.2M | $602.5M | -$111.6M | $231.4M | $269.5M | $156.6M | $152.7M | $201.7M |
| Depreciation and amortisation | $121.2M | $125.7M | $131.8M | $129.2M | $112.3M | $98.0M | $75.4M | $67.5M | $54.7M | $46.2M |
| Stock-based compensation | $22.7M | $18.7M | $18.2M | $23.7M | $27.2M | $18.5M | $16.1M | $14.1M | $20.0M | $15.4M |
| Capital expenditure | $52.6M | $42.3M | $62.2M | $130.6M | $98.5M | $57.3M | $58.2M | $119.8M | $87.2M | $44.7M |
| Investing cash flow | -$147.1M | -$61.1M | -$83.7M | -$241.8M | -$281.2M | -$232.3M | -$503.8M | -$302.8M | -$145.9M | -$91.7M |
| Financing cash flow | -$125.5M | -$208.2M | -$426.2M | -$374.9M | $404.6M | $14.0M | $255.0M | $135.1M | -$66.9M | -$36.1M |
| Dividends paid | $114.0M | $109.5M | $106.3M | $102.7M | $87.2M | $70.4M | $63.8M | $59.3M | $51.1M | $34.4M |
| Buybacks | $128.6M | $0 | $0 | $24.1M | $0 | $0 | $0 | $28.7M | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000763744-26-000011.
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