THO

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Thor Industries, Inc.

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Key Metrics

Previous Close: $80.07
52-Week Range: $69.71 – $122.83
Market Cap: $4.10B
P/E (TTM): 15.94
EPS (TTM): 4.94
Dividend Yield: 2.60%

Advanced Metrics

Price/Book: 0.95
PEG Ratio: 0.78
Return on Equity: 6.09%
Return on Assets: 2.23%
Gross Margin: 13.22%
Operating Margin: 3.45%
Profit Margin: 2.67%
Current Ratio: 1.71
Debt/Equity: 0.21
Total Debt: $919.26M
Free Cash Flow: $148.25M
Revenue Growth: -3.90%
Earnings Growth: -26.50%
Enterprise Value: $4.64B

THO Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$16.31B	$11.12B	$10.04B	$9.58B
Cost of Revenue	$13.51B	$9.53B	$8.59B	$8.24B
Gross Profit	$2.81B	$1.60B	$1.45B	$1.34B
Selling, General & Admin	$1.12B	$870.05M	$895.53M	$922.55M
Operating Expenses	$1.27B	$1.01B	$1.03B	$1.04B
Operating Income	$1.53B	$585.49M	$423.89M	$299.06M
EBITDA	$1.83B	$873.73M	$714.65M	$615.84M
Pretax Income	$1.46B	$499.35M	$348.84M	$296.19M
Income Tax	$321.62M	$125.11M	$83.44M	$39.60M
Net Income	$1.14B	$374.27M	$265.31M	$258.56M
Diluted EPS	20.59	6.95	4.94	4.84
Diluted Shares	55.26M	53.86M	53.69M	53.40M

THO Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$311.55M	$441.23M	$501.32M	$586.60M
Receivables	$944.18M	$643.22M	$700.89M	$707.36M
Inventory	$1.75B	$1.65B	$1.37B	$1.35B
Current Assets	$3.06B	$2.79B	$2.65B	$2.78B
Total Assets	$7.41B	$7.26B	$7.02B	$7.07B
Current Liabilities	$1.76B	$1.72B	$1.57B	$1.58B
Long-Term Debt	$1.75B	$1.29B	$1.10B	$919.61M
Total Debt	$1.77B	$1.30B	$1.13B	$922.98M
Total Liabilities	$3.81B	$3.28B	$2.95B	$2.78B
Retained Earnings	$3.81B	$4.09B	$4.25B	$4.41B
Shareholders' Equity	$3.59B	$3.98B	$4.07B	$4.29B
Working Capital	$1.31B	$1.08B	$1.08B	$1.19B
Net Debt	$1.46B	$861.45M	$632.60M	$336.38M

THO Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$990.12M	$981.63M	$545.55M	$577.92M
Capital Expenditure	-$242.36M	-$208.19M	-$139.63M	-$122.99M
Free Cash Flow	$747.76M	$773.44M	$405.91M	$454.94M
Depreciation & Amortisation	$284.45M	$276.93M	$277.14M	$271.21M
Stock-Based Compensation	$31.42M	$39.51M	$37.90M	$30.87M
Investing Cash Flow	-$1.05B	-$222.48M	-$146.81M	-$64.47M
Financing Cash Flow	-$47.84M	-$635.68M	-$337.68M	-$426.31M
Dividends Paid	-$94.94M	-$95.97M	-$102.14M	-$106.13M
Share Repurchases	-$165.11M	-$42.01M	-$68.39M	-$52.65M
Net Change in Cash	-$106.98M	$123.47M	$61.06M	$87.15M

THO Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$2.89B	$2.52B	$2.39B	$2.13B	$2.78B
Cost of Revenue	$2.45B	$2.15B	$2.07B	$1.87B	$2.43B
Gross Profit	$443.12M	$370.88M	$320.97M	$251.25M	$354.77M
Selling, General & Admin	$238.27M	$237.86M	$254.03M	$212.02M	$230.93M
Operating Expenses	$267.88M	$268.22M	$281.96M	$239.82M	$258.75M
Operating Income	$175.24M	$102.66M	$39.02M	$11.44M	$96.02M
EBITDA	$232.96M	$224.80M	$107.54M	$95.29M	$209.08M
Pretax Income	$155.58M	$143.37M	$32.49M	$20.99M	$133.47M
Income Tax	$21.65M	$16.74M	$9.32M	$6.35M	$37.94M
Net Income	$135.19M	$125.76M	$21.67M	$17.80M	$97.23M
Diluted EPS	2.53	2.36	0.41	0.34	1.86
Diluted Shares	53.43M	53.29M	52.98M	52.84M	52.40M

THO Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$508.32M	$586.60M	$509.88M	$242.18M	$371.95M
Receivables	$855.92M	$707.36M	$655.64M	$767.43M	$879.28M
Inventory	$1.35B	$1.35B	$1.46B	$1.59B	$1.53B
Current Assets	$2.84B	$2.78B	$2.72B	$2.72B	$2.89B
Total Assets	$7.17B	$7.07B	$6.99B	$7.02B	$7.15B
Current Liabilities	$1.66B	$1.58B	$1.51B	$1.54B	$1.69B
Long-Term Debt	$1.01B	$919.61M	$913.13M	$877.77M	$871.44M
Total Debt	$1.02B	$922.98M	$915.96M	$880.69M	$874.31M
Total Liabilities	$2.95B	$2.78B	$2.69B	$2.69B	$2.84B
Retained Earnings	$4.31B	$4.41B	$4.40B	$4.39B	$4.46B
Shareholders' Equity	$4.22B	$4.29B	$4.30B	$4.32B	$4.31B
Working Capital	$1.18B	$1.19B	$1.21B	$1.18B	$1.20B
Net Debt	$507.78M	$336.38M	$406.08M	$638.51M	$502.37M

THO Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$257.67M	$258.67M	-$44.87M	-$112.24M	$234.15M
Capital Expenditure	-$33.51M	-$37.94M	-$31.58M	-$28.44M	-$38.12M
Free Cash Flow	$224.16M	$220.74M	-$76.45M	-$140.68M	$196.04M
Depreciation & Amortisation	$66.17M	$71.38M	$66.03M	$64.88M	$65.95M
Stock-Based Compensation	$8.19M	$4.07M	$10.95M	$7.95M	$6.70M
Investing Cash Flow	-$32.88M	$2.88M	-$20.76M	-$10.45M	-$30.03M
Financing Cash Flow	-$77.08M	-$182.22M	-$13.48M	-$135.97M	-$79.62M
Dividends Paid	-$26.60M	-$26.38M	—	—	-$27.07M
Share Repurchases	$0.00	-$50.92M	-$5.05M	-$25.23M	-$50.50M
Net Change in Cash	$147.70M	$79.33M	-$79.11M	-$258.66M	$124.51M

Market Snapshot

About

Thor Industries, Inc. is a leading manufacturer of recreational vehicles including motorhomes, travel trailers, and fifth wheels. The company produces RVs under well-known brands such as Airstream, Grand Design, and Jayco. Thor serves the North American and European markets through a network of independent dealers.