LCI Industries (LCII)
NYSE:LCII
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LCI Industries
(NYSE:LCII)
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Rating:69Neutral
Price Target:
$128.00
▲(3.70% 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
Balance-sheet de-risking
Material leverage reduction and stronger equity (debt-to-equity ~0.22) meaningfully improve financial flexibility. Lower interest burden and higher credit optionality support continued buybacks/dividends, M&A capacity, and resilience through RV cyclical troughs, sustaining strategic execution.
Negative Factors
Aftermarket margin compression
Significant decline in aftermarket margins undermines a typically stable, higher-margin revenue stream. If the mix shift, investments or price pass-through limitations persist, the aftermarket could contribute less to consolidated profitability, constraining margin recovery despite top-line growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet de-risking
Material leverage reduction and stronger equity (debt-to-equity ~0.22) meaningfully improve financial flexibility. Lower interest burden and higher credit optionality support continued buybacks/dividends, M&A capacity, and resilience through RV cyclical troughs, sustaining strategic execution.
Read all positive factors
LCI Industries (LCII) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.84B
Dividend Yield3.72%
Average Volume (3M)377.40K
Price to Earnings (P/E)16.0
Beta (1Y)0.79
Revenue Growth10.18%
EPS Growth34.83%
CountryUS
Employees11,500
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Recreational Vehicles
Share Statistics
EPS (TTM)0.89
Shares Outstanding24,284,477
10 Day Avg. Volume596,719
30 Day Avg. Volume377,404
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 Cap1.36
Enterprise Value/Revenue0.94
Enterprise Value/Gross Profit3.95
Enterprise Value/Ebitda9.39
Forecast
1Y Price Target
$153.40Price Target Upside24.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)8.73
Revenue Forecast (FY)$4.26B
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 05, 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
Neutral
123.43
Price Trends
131.65
Negative
129.42
Negative
112.99
Positive
Market Momentum
-1.58
Negative
47.38
Neutral
29.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LCII, the sentiment is Neutral. The current price of 123.43 is above the 20-day moving average (MA) of 122.84, below the 50-day MA of 131.65, and above the 200-day MA of 112.99, indicating a neutral trend. The MACD of -1.58 indicates Negative momentum. The RSI at 47.38 is Neutral, neither overbought nor oversold. The STOCH value of 29.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | $2.84B | 15.99 | 13.76% | 3.72% | 10.18% | 34.83% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $5.17B | 57.32 | -7.80% | 2.27% | 8.35% | -271.39% | |
61 Neutral | $3.78B | -16.50 | -45.60% | 3.99% | 4.30% | -1186.05% | |
55 Neutral | $905.07M | 58.59 | 3.39% | 3.42% | 5.81% | ― | |
52 Neutral | $2.67B | 7.26 | 10.26% | 3.47% | -13.76% | -21.10% | |
51 Neutral | $4.11B | 82.80 | 7.01% | 1.94% | 4.59% | 49.09% |
* Consumer Cyclical Sector Average
LCII
LCI Industries
116.79
41.40
54.91%
BC
Brunswick
79.42
34.03
74.95%
HOG
Harley-Davidson
24.48
1.45
6.27%
PII
Polaris
66.42
34.17
105.97%
THO
Thor Industries
78.18
5.29
7.26%
WGO
Winnebago Industries
32.02
0.72
2.29%
LCI Industries Corporate Events
Financial Disclosures
LCI Industries Schedules First Quarter 2026 Earnings Release
Neutral
Apr 20, 2026
On April 20, 2026, LCI Industries announced that it will release its first quarter 2026 financial results before the market opens on Tuesday, May 5, 2026. The company, a major supplier to recreation and transportation markets, is aiming to provide...
Business Operations and StrategyM&A Transactions
LCI Industries in Merger Talks With Patrick Industries
Neutral
Apr 17, 2026
On April 17, 2026, LCI Industries confirmed it is engaged in discussions with Patrick Industries regarding a potential merger of equals, signaling possible large-scale consolidation in the outdoor recreation and transportation supply chain. The co...
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.