THOR INDUSTRIES INC THO
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.
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 | $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 | 4.87 | 4.98 | 7.00 | 20.67 | 11.93 | 4.04 | 2.47 | 8.17 | 7.12 | 4.89 |
| EPS, diluted | 4.84 | 4.94 | 6.95 | 20.59 | 11.85 | 4.02 | 2.47 | 8.14 | 7.09 | 4.88 |
| Shares, diluted (wtd. avg.) | $53.4M | $53.7M | $53.9M | $55.3M | $55.7M | $55.4M | $54.0M | $52.9M | $52.8M | $52.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
Others in SIC 3716
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| WGO | WINNEBAGO INDUSTRIES INC | $877.2M | 34.1x | -5.9% |