THOR INDUSTRIES INC THO

Consumer discretionary SIC 3716 - Motor Homes NAICS Manufacturing › Transportation Equipment Manufacturing › Motor Vehicle Body and Trailer Manufacturing › Motor Home Manufacturing derived NYSE

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. Unless the context otherwise requires or indicates, all references to "THOR", the "Company", "we", "our" and "us" refer to THOR Industries, Inc. and its subsidiaries.

Last close 70.10 2026-10-23
Market cap $3.65B 2026-04-30 share count
52-week range 62.83 - 122.83

Valuation FY2025 figures against the last close

P/S0.4x
P/E14.5x
P/FCF8.0x
EV/EBITDA—
Dividend yield—
Diluted EPS4.84

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Germany
  • Other Europe
  • Canada
  • Other
Revenue by geography, 5 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 6.1B (63.9%) 64% United States Germany, FY2025: 1.9B (20.1%) 20% Germany Other Europe, FY2025: 1.1B (11.5%) 12% Other Europe Canada, FY2025: 393M (4.1%) 4% Other, FY2025: 40.4M (0.4%) FY2024 United States, FY2024: 6.2B (61.6%) 62% Germany, FY2024: 2B (20.1%) 20% Other Europe, FY2024: 1.3B (13.4%) 13% Canada, FY2024: 435.8M (4.3%) 4% Other, FY2024: 50.3M (0.5%) FY2023 United States, FY2023: 7.4B (66.9%) 67% Germany, FY2023: 1.8B (16.3%) 16% Other Europe, FY2023: 1.2B (11.0%) 11% Canada, FY2023: 587.6M (5.3%) 5% Other, FY2023: 53.6M (0.5%)
Region FY2025FY2024FY2023
United States $6.12B $6.19B $7.44B
Germany $1.92B $2.02B $1.82B
Other Europe $1.10B $1.34B $1.22B
Canada $393.0M $435.8M $587.6M
Other $40.4M $50.3M $53.6M

As the company reported it, from the “BUSINESS SEGMENTS - Schedule of Segment Reporting Information, by Segment Geographic Region Item (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $9.58B$10.04B$11.12B$16.31B$12.32B$8.17B$7.86B$8.33B$7.25B$4.58B
Cost of revenue $8.24B$8.59B$9.53B$13.51B$10.42B$7.05B$6.89B$7.16B$6.20B$3.86B
Gross profit $1.34B$1.45B$1.60B$2.81B$1.89B$1.12B$973.1M$1.16B$1.04B$726.3M
R&D ——————$9.4M$2.0M$2.6M—
SG&A $922.6M$895.5M$870.1M$1.12B$869.9M$634.1M$536.0M$477.4M$419.8M$306.3M
Interest expense ——$97.4M$90.1M$93.5M$107.3M$68.1M$5.2M$9.7M$1.6M
Pre-tax income $296.2M$348.8M$499.4M$1.46B$844.6M$272.9M$184.7M$633.0M$556.4M$383.3M
Income tax $39.6M$83.4M$125.1M$321.6M$183.7M$51.5M$52.2M$202.9M$182.1M$125.3M
Net income $258.6M$265.3M$374.3M$1.14B$659.9M$223.0M$133.3M$430.2M$374.3M$256.5M
EPS, basic 4.874.987.0020.6711.934.042.478.177.124.89
EPS, diluted 4.844.946.9520.5911.854.022.478.147.094.88
Shares, diluted (wtd. avg.) 53.4M53.7M53.9M55.3M55.7M55.4M54.0M52.9M52.8M52.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $586.6M$501.3M$441.2M$311.6M$448.7M$541.4M$451.3M$275.2M$223.3M$209.9M
Receivables $541.7M$502.3M$543.9M$848.8M$796.5M$588.1M$478.5M$467.5M$453.8M$370.1M
Inventory $1.35B$1.37B$1.65B$1.75B$1.37B$716.3M$828.0M$537.9M$460.5M$403.9M
Total current assets $2.78B$2.65B$2.79B$3.06B$2.80B$2.10B$2.04B$1.31B$1.18B$1.02B
Property, plant and equipment $1.32B$1.39B$1.39B$1.26B$1.19B$1.11B$1.09B$522.1M$425.2M$344.3M
Goodwill $1.84B$1.79B$1.80B$1.80B$1.56B$1.48B$1.36B$377.7M$377.7M$377.7M
Other intangibles $758.8M$861.1M$997.0M$1.12B$937.2M$914.7M$970.8M$388.3M$443.5M$507.4M
Total assets $7.07B$7.02B$7.26B$7.41B$6.65B$5.77B$5.66B$2.78B$2.56B$2.33B
Accounts payable $738.1M$628.1M$736.3M$822.4M$915.0M$636.5M$551.8M$287.0M$328.6M$263.8M
Short-term debt $3.4M$32.6M$11.4M$13.2M$12.4M$13.8M$17.4M———
Total current liabilities $1.58B$1.57B$1.72B$1.76B$1.79B$1.52B$1.45B$769.3M$781.0M$651.7M
Long-term debt $919.6M$1.10B$1.29B$1.75B$1.59B$1.65B$1.89B———
Retained earnings $4.41B$4.25B$4.09B$3.81B$2.77B$2.20B$2.07B$2.02B$1.67B$1.37B
Total equity $4.29B$4.07B$3.98B$3.60B$2.95B$2.35B$2.10B$1.94B$1.58B$1.27B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $577.9M$545.5M$981.6M$990.1M$526.5M$540.9M$508.0M$466.5M$419.3M$341.2M
Depreciation and amortisation $271.2M$277.1M$276.9M$284.5M$230.6M$196.2M$148.8M$93.2M$98.3M$52.6M
Stock-based compensation $30.9M$37.9M$39.5M$31.4M$30.5M$19.9M$18.9M$17.0M$12.5M$9.4M
Capital expenditure $121.6M$139.6M$208.9M$240.6M$131.7M$105.8M$127.2M$137.3M$117.8M$52.0M
Investing cash flow -$64.5M-$146.8M-$222.5M-$1.05B-$428.5M-$84.2M-$1.87B-$183.5M-$116.7M-$601.5M
Financing cash flow -$426.3M-$337.7M-$635.7M-$47.8M-$188.4M-$392.9M$1.54B-$231.0M-$289.3M$286.7M
Dividends paid ——————$84.1M$78.0M$69.4M$63.0M
Buybacks $52.6M$68.4M$42.0M$165.1M$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 0000730263-25-000019.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B 20B Revenue, FY2016: 4.6B Gross profit, FY2016: 726.3M Net income, FY2016: 256.5M Revenue, FY2017: 7.2B Gross profit, FY2017: 1B Net income, FY2017: 374.3M Revenue, FY2018: 8.3B Gross profit, FY2018: 1.2B Net income, FY2018: 430.2M Revenue, FY2019: 7.9B Gross profit, FY2019: 973.1M Net income, FY2019: 133.3M Revenue, FY2020: 8.2B Gross profit, FY2020: 1.1B Net income, FY2020: 223M Revenue, FY2021: 12.3B Gross profit, FY2021: 1.9B Net income, FY2021: 659.9M Revenue, FY2022: 16.3B Gross profit, FY2022: 2.8B Net income, FY2022: 1.1B Revenue, FY2023: 11.1B Gross profit, FY2023: 1.6B Net income, FY2023: 374.3M Revenue, FY2024: 10B Gross profit, FY2024: 1.5B Net income, FY2024: 265.3M Revenue, FY2025: 9.6B Gross profit, FY2025: 1.3B Net income, FY2025: 258.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $4.58B $7.25B $8.33B $7.86B $8.17B $12.32B $16.31B $11.12B $10.04B $9.58B
Gross profit $726.3M $1.04B $1.16B $973.1M $1.12B $1.89B $2.81B $1.60B $1.45B $1.34B
Net income $256.5M $374.3M $430.2M $133.3M $223.0M $659.9M $1.14B $374.3M $265.3M $258.6M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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