LCI Industries (LCII)
NYSE:LCII
Top Page
LCI Industries
(NYSE:LCII)
Select Model
Select Model
Rating:69Neutral
Price Target:
$129.00
▲(1.65% Upside)
Action:ReiteratedDate:02/28/26
The score is driven by improving fundamentals and a materially strengthened balance sheet, reinforced by upbeat 2026 guidance and continued capital returns. Near-term technical weakness and oversold signals temper the outlook, while valuation appears reasonable with a solid dividend yield.
Positive Factors
De-risked balance sheet
Material debt reduction materially increases financial flexibility and resiliency. Lower leverage supports sustained investment in product development, facility consolidations, M&A and capital returns while reducing refinancing risk through cyclical downturns, strengthening long-term solvency and strategic optionality.
Negative Factors
Aftermarket margin compression
Sustained aftermarket margin erosion reduces the value of the installed-base revenue stream that normally cushions cyclicality. If product mix shifts toward lower-margin items or investments depress margins longer-term, the company's higher-margin recurring revenue advantage could be structurally weakened.
Read all positive and negative factors
Positive Factors
Negative Factors
De-risked balance sheet
Material debt reduction materially increases financial flexibility and resiliency. Lower leverage supports sustained investment in product development, facility consolidations, M&A and capital returns while reducing refinancing risk through cyclical downturns, strengthening long-term solvency and strategic optionality.
Read all positive factors
LCI Industries (LCII) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.07B
Dividend Yield3.72%
Average Volume (3M)274.87K
Price to Earnings (P/E)16.0
Beta (1Y)0.86
Revenue Growth5.74%
EPS Growth39.40%
CountryUS
Employees11,500
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Recreational Vehicles
Share Statistics
EPS (TTM)0.89
Shares Outstanding24,201,069
10 Day Avg. Volume200,790
30 Day Avg. Volume274,867
Financial Highlights & Ratios
PEG Ratio0.45
Price to Book (P/B)2.21
Price to Sales (P/S)0.73
P/FCF Ratio10.81
Enterprise Value/Market Cap1.33
Enterprise Value/Revenue0.99
Enterprise Value/Gross Profit4.16
Enterprise Value/Ebitda9.90
Forecast
1Y Price Target
$156.20Price Target Upside23.08% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)8.78
Revenue Forecast (FY)$4.27B
LCI Industries Business Overview & Revenue Model
Company Description
LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equip...
How the Company Makes Money
LCI Industries makes money mainly by selling manufactured components and assemblies to original equipment manufacturers (OEMs), especially RV manufacturers, and by selling replacement parts and accessories into the aftermarket.
1) OEM component s...
LCI Industries Earnings Call Summary
Earnings Call Date:Feb 20, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call communicated strong operational execution and several clear positives: double-digit organic and acquisition-driven revenue growth, meaningful margin and adjusted EBITDA expansion, improving ROIC, robust cash generation, active capital returns, and a constructive 2026 guide (revenue $4.2–4.3B; operating margin 7.5%–8%). Near-term headwinds include aftermarket margin pressure from material/tariff inflation, investments that depress near-term aftermarket margins, dealer-level caution and weather impacts moderating industry demand, and restructuring/divestiture actions that carry one-time costs and potential revenue reductions. On balance, the company presented more and larger positive developments than negatives, while acknowledging manageable near-term challenges and a pathway to further margin improvement via consolidations, mix, and share gains.Positive Updates
Strong Quarterly and Full-Year Revenue Growth
Consolidated Q4 net sales of $933,000,000, up 16% year-over-year; company commentary also cited ~15% top-line growth in Q4. 2026 revenue guidance of $4.2–$4.3 billion.
Negative Updates
Aftermarket Margin Compression
Q4 aftermarket operating profit margin declined to 4.3% from 7.9% a year earlier, driven by higher material costs (tariffs, steel, aluminum, freight), a shift toward lower-margin products, and investments in capacity/distribution/technology.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Quarterly and Full-Year Revenue Growth
Consolidated Q4 net sales of $933,000,000, up 16% year-over-year; company commentary also cited ~15% top-line growth in Q4. 2026 revenue guidance of $4.2–$4.3 billion.
Read all positive updates
Company Guidance
For 2026 management guided consolidated revenue of $4.2–$4.3 billion, an operating margin of 7.5%–8%, and adjusted diluted EPS of $8.25–$9.25, with RV wholesale shipments expected at 335,000–350,000 units, marine flat to up low single digits, transportation flat, housing up low single digits, and aftermarket mid‑single‑digit growth (January net sales were ~$343M, up 4% YOY). They expect 70–120 basis points of incremental operating margin improvement (building on 2025’s 6.8% operating margin and ROIC of 13.5%), plan eight to ten facility consolidations in 2026 (in addition to five in 2025), target net debt/adjusted EBITDA of 1.5–2.0x (ended 2025 at 1.8x with $223M cash and $595M revolver availability), forecast $60–$80M of capital expenditures, and intend to continue returning capital via a $300M repurchase program and dividend strategy (returned $243M in 2025 — $114M dividends/$129M repurchases; dividend yield ~3%).LCI Industries Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.12B | 3.74B | 3.78B | 5.21B | 4.47B |
| Gross Profit | 980.29M | 879.72M | 776.19M | 1.27B | 1.04B |
| EBITDA | 412.01M | 343.93M | 255.20M | 682.24M | 513.03M |
| Net Income | 188.25M | 142.87M | 64.19M | 394.97M | 287.74M |
Balance Sheet | |||||
| Total Assets | 3.18B | 2.89B | 2.96B | 3.25B | 3.29B |
| Cash, Cash Equivalents and Short-Term Investments | 222.62M | 165.76M | 66.16M | 47.50M | 62.90M |
| Total Debt | 1.24B | 995.85M | 1.11B | 1.38B | 1.48B |
| Total Liabilities | 1.82B | 1.51B | 1.60B | 1.87B | 2.20B |
| Stockholders Equity | 1.36B | 1.39B | 1.36B | 1.38B | 1.09B |
Cash Flow | |||||
| Free Cash Flow | 278.33M | 327.95M | 465.02M | 471.87M | -210.11M |
| Operating Cash Flow | 330.98M | 370.28M | 527.23M | 602.51M | -111.57M |
| Investing Cash Flow | -147.07M | -61.10M | -83.75M | -241.79M | -281.22M |
| Financing Cash Flow | -125.49M | -208.22M | -426.18M | -374.87M | 404.56M |
LCI Industries Technical Analysis
Positive
126.91
Price Trends
135.01
Negative
128.10
Negative
111.76
Positive
Market Momentum
-2.52
Negative
51.95
Neutral
61.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LCII, the sentiment is Positive. The current price of 126.91 is above the 20-day moving average (MA) of 122.54, below the 50-day MA of 135.01, and above the 200-day MA of 111.76, indicating a neutral trend. The MACD of -2.52 indicates Negative momentum. The RSI at 51.95 is Neutral, neither overbought nor oversold. The STOCH value of 61.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LCII.
LCI Industries Risk Analysis
LCI Industries disclosed 40 risk factors in its most recent earnings report. LCI Industries reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
LCI Industries Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $3.07B | 15.99 | 13.76% | 3.72% | 5.74% | 39.40% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $5.06B | -35.47 | -7.80% | 2.27% | -4.78% | -189.89% | |
53 Neutral | $931.36M | 58.59 | 3.39% | 3.42% | 1.38% | ― | |
52 Neutral | $2.53B | 7.26 | 10.26% | 3.47% | -15.99% | -6.76% | |
51 Neutral | $3.14B | ― | -42.42% | 3.99% | -9.39% | -173.86% | |
51 Neutral | $4.22B | 82.80 | 7.01% | 1.94% | 1.43% | 34.76% |
* Consumer Cyclical Sector Average
LCII
LCI Industries
126.77
52.52
70.73%
BC
Brunswick
77.99
34.91
81.05%
HOG
Harley-Davidson
22.66
1.84
8.85%
PII
Polaris
56.46
24.71
77.81%
THO
Thor Industries
80.28
13.11
19.53%
WGO
Winnebago Industries
32.95
2.91
9.67%
LCI Industries Corporate Events
Dividends
LCI Industries Declares Regular Quarterly Cash Dividend
Positive
Feb 27, 2026
LCI Industries, through its Lippert subsidiary, is a global supplier of engineered components to the outdoor recreation and transportation markets, serving both OEM and aftermarket customers with an emphasis on innovation and advanced manufacturin...
Business Operations and StrategyFinancial Disclosures
LCI Industries Reports Strong Q4 Growth and Margins
Positive
Feb 20, 2026
On its 18 February 2026 call discussing fourth-quarter 2025 results, LCI Industries reported 15% year-over-year revenue growth and more than doubled operating margins, underpinned by strong OEM and aftermarket performance. Management highlighted 1...
Executive/Board Changes
LCI Industries Announces Retirement of Longtime Board Director
Neutral
Feb 13, 2026
LCI Industries, a major supplier of engineered components to the outdoor recreation and transportation sectors, operates globally through its Lippert subsidiary and targets both OEM and aftermarket customers. The company emphasizes innovation and ...
Business Operations and StrategyFinancial Disclosures
LCI Industries Schedules Q4 and Full-Year 2025 Results
Neutral
Feb 4, 2026
On February 4, 2026, LCI Industries announced it will release its fourth quarter and full-year 2025 financial results before U.S. markets open on Wednesday, February 18, 2026, and will discuss the numbers on a conference call and webcast at 8:30 a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.