Thor Industries (THO) AI Stock Analysis

• Market Cap: $5.73B
• Dividend Yield: 1.94%
• Average Volume (3M): 457.04K
• Price to Earnings (P/E): 20.5
• Beta (1Y): 1.16
• Revenue Growth: 1.43%
• EPS Growth: 34.76%
• Country: US
• Employees: 22,300
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Recreational Vehicles
• EPS (TTM): 0.41
• Shares Outstanding: 52,838,665
• 10 Day Avg. Volume: 335,363
• 30 Day Avg. Volume: 457,042
• PEG Ratio: -8.46
• Price to Book (P/B): 1.13
• Price to Sales (P/S): 0.50
• P/FCF Ratio: 10.62
• Enterprise Value/Market Cap: 1.05
• Enterprise Value/Revenue: 0.61
• Enterprise Value/Gross Profit: 4.36
• Enterprise Value/Ebitda: 9.42
• 1Y Price Target: $118.83
• Price Target Upside: 14.53% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): 4.26
• Revenue Forecast (FY): $9.65B

• Rating: 69 Neutral
• Price Target: $131.00 ▲(26.27% Upside)
• Action: Reiterated Date: 12/19/25
• Date: Action: Reiterated 12/19/25

Thor Industries' overall score reflects a stable financial position with low leverage and effective cash management. However, challenges in profitability and cash flow growth are notable. The technical indicators suggest a stable trend, while recent corporate events highlight strategic improvements and shareholder value returns.

Positive Factors

Market share & brand portfolio

Sequential share gains in North America, combined with well-known brands (Airstream, Keystone, Jayco), create durable competitive advantages across dealer networks. Strong brands and expanding share support pricing power, distribution leverage, and volume stability over the next several quarters.

Low leverage / strong balance sheet

A low debt-to-equity ratio provides financial flexibility to fund working capital, capex, or strategic M&A without stressing cash flow. This capital structure reduces refinancing risk in cyclical demand periods and supports sustained investment in operations and dealer inventory management.

Diversified revenue streams & scale

Broad revenue mix — wholesale RVs plus parts and service — and scale from multiple established brands lower revenue volatility and increase cross-sell opportunities. Economies of scale and acquisitions strengthen purchasing, manufacturing efficiency, and long-term margin resilience.

Negative Factors

Thin profitability / low net margins

Persistently low net margins constrain internal funding for reinvestment, dividends, and debt reduction. With gross margins near 14% but net near 2.7%, the company has limited buffer against input cost inflation or volume declines, making earnings sensitive to operational swings.

Declining free cash flow growth

An 18% drop in free cash flow growth signals weaker cash generation despite good operating cash conversion metrics. If sustained, this trend could pressure funding for capex, acquisitions, dividends, or dealer support programs and reduce financial optionality over the medium term.

European operational challenges

Ongoing European segment issues introduce execution risk and can depress consolidated margins. International operational disruptions, supply chain complexity, or dealer channel recovery delays may require capex or restructuring, weighing on near-term profitability and management bandwidth.

Thor Industries Business Overview & Revenue Model

Company Description

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.

How the Company Makes Money

Thor Industries generates revenue primarily through the sale of recreational vehicles. The company produces a wide array of RV models, which are sold through a network of independent dealers across North America and internationally. Key revenue streams include wholesale sales of RVs to dealers, as well as parts and service sales, which contribute to income from existing RV owners. Additionally, Thor Industries benefits from economies of scale and operational efficiencies, allowing for competitive pricing. The company's strategic acquisitions of established RV brands also enhance its market presence and diversify its product offerings. Furthermore, the ongoing growth in outdoor recreation and travel trends bolsters demand for RVs, contributing to Thor's revenue growth.

Thor Industries Financial Statement Overview

Summary

Thor Industries demonstrates a stable financial position with low leverage and a solid equity base. Revenue growth shows signs of recovery, but profitability remains a challenge with low net margins. Cash flow metrics indicate effective cash management, although recent declines in free cash flow growth warrant attention.

Income Statement

Thor Industries shows a modest revenue growth of 2.57% in the TTM period, indicating a recovery from previous declines. The gross profit margin is stable at approximately 14%, but the net profit margin is relatively low at 2.7%, suggesting limited profitability. EBIT and EBITDA margins are also modest, reflecting operational challenges.

Balance Sheet

The company maintains a healthy debt-to-equity ratio of 0.22, indicating low leverage and financial stability. Return on equity is moderate at 6.26%, showing reasonable efficiency in generating returns. The equity ratio is strong, suggesting a solid capital structure with a significant portion of assets financed by equity.

Cash Flow

Thor Industries faces a decline in free cash flow growth by 18% in the TTM period, raising concerns about cash generation. However, the operating cash flow to net income ratio is strong at 4.97, indicating effective cash conversion. The free cash flow to net income ratio is also healthy, suggesting good cash profitability.

Breakdown	TTM	Jul 2025	Jul 2024	Jul 2023	Jul 2022	Jul 2021
Income Statement
Total Revenue	9.83B	9.58B	10.04B	11.12B	16.31B	12.32B
Gross Profit	1.38B	1.34B	1.45B	1.60B	2.81B	1.89B
EBITDA	639.27M	615.84M	714.50M	862.42M	1.82B	1.14B
Net Income	282.06M	258.56M	265.31M	374.27M	1.14B	659.87M
Balance Sheet
Total Assets	6.99B	7.07B	7.02B	7.26B	7.41B	6.65B
Cash, Cash Equivalents and Short-Term Investments	509.88M	586.60M	501.32M	441.23M	311.69M	445.85M
Total Debt	1.05B	922.98M	1.13B	1.30B	1.82B	1.59B
Total Liabilities	2.69B	2.78B	2.95B	3.28B	3.81B	3.71B
Stockholders Equity	4.30B	4.29B	4.07B	3.98B	3.57B	2.92B
Cash Flow
Free Cash Flow	373.02M	454.94M	405.91M	773.44M	747.90M	397.65M
Operating Cash Flow	502.32M	577.92M	545.55M	981.63M	990.25M	526.48M
Investing Cash Flow	-59.88M	-64.47M	-146.81M	-222.48M	-1.05B	-428.49M
Financing Cash Flow	-375.17M	-426.31M	-337.68M	-635.68M	-47.84M	-188.44M

Thor Industries Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 103.75
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For THO, the sentiment is Neutral. The current price of 103.75 is below the 20-day moving average (MA) of 115.09, below the 50-day MA of 110.88, and above the 200-day MA of 100.33, indicating a neutral trend. The MACD of -0.18 indicates Positive momentum. The RSI at 39.90 is Neutral, neither overbought nor oversold. The STOCH value of 8.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for THO.

Thor Industries Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WGO	72 Outperform	$1.24B	34.11	2.94%	3.42%	1.38%	―
THO	69 Neutral	$5.73B	20.52	6.75%	1.94%	1.43%	34.76%
LCII	68 Neutral	$3.42B	18.69	13.70%	3.72%	5.74%	39.40%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
BC	58 Neutral	$5.43B	-38.61	-7.73%	2.27%	-4.78%	-189.89%
HOG	54 Neutral	$2.30B	7.00	10.71%	3.47%	-15.99%	-6.76%
PII	51 Neutral	$3.63B	-7.61	-43.95%	3.99%	-9.39%	-173.86%

Thor Industries Corporate Events

Thor Industries Completes 2025 Shareholder Meeting Decisions

Thor Industries, Inc. held its 2025 annual meeting of shareholders on December 17, 2025, where 48,215,500 shares were represented. Shareholders voted on key proposals, including the election of nine directors, the approval of Deloitte & Touche LLP as the independent auditor for fiscal year 2026, an advisory approval of executive compensation, and the endorsement of an amended equity and incentive plan. The results ensured leadership continuity, confirmed Deloitte’s audit role, supported compensation structures for executives, and enabled updates to the company’s equity and incentive programs. These decisions strengthen the company’s governance, operational oversight, and incentive alignment for future growth and performance.

The most recent analyst rating on (THO) stock is a Hold with a $112.00 price target. To see the full list of analyst forecasts on Thor Industries stock, see the THO Stock Forecast page.

Thor Industries Declares Quarterly Dividend

On December 16, 2025, THOR Industries’ Board of Directors declared a regular quarterly cash dividend of $0.52 per share, payable on January 19, 2026, to shareholders recorded by January 5, 2026. This announcement reflects the company’s ongoing commitment to returning value to its shareholders, potentially enhancing its attractiveness to investors and solidifying its position in the recreational vehicle industry.

The most recent analyst rating on (THO) stock is a Hold with a $112.00 price target. To see the full list of analyst forecasts on Thor Industries stock, see the THO Stock Forecast page.

Thor Industries Reports Strong Q1 2026 Financial Results

Thor Industries reported its fiscal 2026 first-quarter results, showing significant financial improvements despite a challenging market environment. The company achieved a revenue of $2.39 billion, a net income of $21.7 million, and an adjusted EBITDA of $131.0 million for the quarter ending October 31, 2025. Thor Industries also noted an increase in its North American market share for the second consecutive quarter, attributed to strategic initiatives and improved dealer inventory management. The company is optimistic about its long-term prospects and is prepared to leverage market opportunities as they arise, while also addressing operational challenges in its European segment.

The most recent analyst rating on (THO) stock is a Hold with a $110.00 price target. To see the full list of analyst forecasts on Thor Industries stock, see the THO Stock Forecast page.