Thor Industries, Inc.

Thor Industries, Inc.

THOยทNYSE

$79.76

+2.5%
Consumer CyclicalAuto - Recreational Vehicles

Thor Industries, Inc. designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles. It also provides aluminum extrusion and specialized component products to RV and other manufacturers; and digital products and services for RVs. The company provides its products through independent and non-franchise dealers. The company was founded in 1980 and is based in Elkhart, Indiana.

At a Glance

Live Snapshot
Market Cap$4.20B
EPS4.8700
P/E Ratio16.38
Earnings Date06/03/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is mid-range (P/E 16.4).

Valuation inputs: P/E 16.4, earnings yield +6.1%, momentum +2.5%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE +6.0%, ROIC +4.7%).

Profitability stack: net margin +2.7%, ROE +6.0%, ROIC +4.7%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +39.3%, momentum +2.5%, net margin +2.7%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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Thor Industries, Inc. Market vs Earnings Trajectory

THO ยท NYSE

Loading price and EPS data...

Thor Industries, Inc.

Thor Industries, Inc. Fair Value Envelope

THO ยท NYSE

Our analysis suggests that THO has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $79.76, this represents a potential HIDDEN relative to our calculated worth for Thor Industries, Inc..

Intrinsic Value
Current Price: $79.76
3Y-76.0%
5Y+21.0%
10Y-
3Y-41.0%
5Y+17.0%
10Y+109.0%
3Y-77.0%
5Y+16.0%
10Y+1.0%
3Y-42.0%
5Y+7.0%
10Y+69.0%
3Y-39.0%
5Y+5.0%
10Y+57.0%
3Y-5.0%
5Y+22.0%
10Y+204.0%
Thor Industries, Inc.

Thor Industries, Inc. Profit Bridge

THO ยท NYSE
Revenue9.58B
Cost of Goods Sold (8.38B)
Gross Profit1.20B
Operating Expenses (897.13M)
Operating Income299.62M
Interest Expense (48.44M)
Other Income/Expense-3.43M
Pretax Income296.19M
Income Tax (39.60M)
Net Income258.56M
Net Income
258.56M

Profitability Analysis

Gross Margin

12.5%

Thin margins leave little room for error. Cost management and pricing strategy are critical.

Operating Margin

3.1%

Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.

Net Profit Margin

2.7%

Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.

Effective Tax Rate

13.4%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.

12.49%
Gross Profit Margin
-21%
3Y-32.0%
5Y-9.0%
10Y-21.0%
3.13%
Operating Profit Margin
-26%
3Y-67.0%
5Y+41.0%
10Y-63.0%
2.70%
Net Profit Margin
2%
3Y-61.0%
5Y-1.0%
10Y-52.0%
6.03%
Return on Equity
-8%
3Y-81.0%
5Y-37.0%
10Y-70.0%
3.66%
Return on Assets
-3%
3Y-76.0%
5Y-5.0%
10Y-67.0%
4.72%
Return on Invested Capital
-20%
3Y-78.0%
5Y+38.0%
10Y-70.0%
THO

Thor Industries, Inc. Cash Conversion Engine

THO ยท NYSE
Net Income258.56M
Depreciation & Amortization271.21M
Stock-Based Compensation30.87M
Change in Working Capital65.88M
Others-19.09M
Capital Expenditures-122.99M
Free Cash Flow454.94M

Cash Flow Quality Analysis

FCF Conversion Rate

176.0%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

21.3%

Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.

FCF Growth Trend

+12.1%

Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.

Working Capital Impact

+$65.88M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

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Thor Industries, Inc. Funding & Solvency Profile

THO ยท NYSE
Cash & Cash Equivalents371.95M
Net Receivables707.05M
Inventory1.53B
Other Current Assets276.86M
Total Current Assets3 B
Property, Plant & Equipment1.32B
Goodwill & Intangible Assets2.56B
Long-Term Investments143.35M
Other Non-Current Assets228.59M
Total Non-Current Assets2 B
Total Assets
7.15B

Financial Health Analysis

Current Ratio

1.71x

Strong liquidity. The company has adequate resources to meet short-term liabilities.

Debt-to-Equity Ratio

0.19x

Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.

Working Capital

1 B

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

40% Current

Balanced asset mix between current and non-current assets, typical of many stable businesses.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

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Thor Industries, Inc. Street Expectations Map

THO ยท NYSE

Wall Street analysts project that THO stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 114.25, with estimates ranging from a low of 97.00 to a high of 133.00.

Lowest Target
97.00
21.61%
Consensus Target
114.25
43.24%
Highest Target
133.00
66.75%

The consensus 1-year price target stands at 114.25, with estimates ranging from a low of 97.00 to a high of 133.00.

Analyst Consensus Analysis

Upside Potential

+43.2%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

31.5% spread

Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.

Analyst Conviction

High

Positive outlook with reasonable agreement. Analysts generally optimistic about prospects with manageable uncertainty.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

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Thor Industries, Inc. Insider Positioning

THO ยท NYSE

During the last 12 months, insiders have purchased $486K and sold $703K worth of THO shares, resulting in $217K of net selling activity.

3 Months

Bought

2.6K

229.45K

Sold

0

0.00

Net Activity

+229K

+$229K

3-6 Months

Bought

0

0.00

Sold

6.3K

702.84K

Net Activity

-703K

-$703K

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

3.0K

256.20K

Sold

0

0.00

Net Activity

+256K

+$256K

Top Buyers

1
OPB

Orthwein Peter Busch

Director

5.6K sharesโ€ข2 transactions

$486K

Top Sellers

1
WWT

Woelfer W. Todd

Officer: Svp, Chief Operating Officer

6.3K sharesโ€ข2 transactions

$703K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Slightly bearish with $217K net selling. Selling modestly exceeds buying, which could be routine diversification rather than concern.

Buy/Sell Ratio

0.69:1

Moderately negative ratio. Selling is roughly double the buying, which may be routine or signal caution.

Recent Trend (3 Months)

$229K

Very strong recent buying momentum. Recent insider purchases significantly outpace sales, suggesting near-term optimism.

Insider Participation

Balanced

1 insider buyers and 1 sellers. Equal participation suggests mixed or neutral insider views.

0.01%
Dividend Yield
-99%
3Y-98.0%
5Y-97.0%
10Y-97.0%
ย 

tho Dividend History

THO
10Y CAGR +6%
Latest $0.52
Annual $2.56
5 year growth trend
Last Period: +0%