Thor Industries (THO) AI Stock Analysis

• Market Cap: $4.96B
• Dividend Yield: 2.15%
• Average Volume (3M): 752.29K
• Price to Earnings (P/E): 22.4
• Beta (1Y): 1.33
• Revenue Growth: -6.41%
• EPS Growth: -15.85%
• Country: US
• Employees: 22,300
• Sector: Consumer Cyclical
• Sector Strength: 66
• Industry: Auto - Recreational Vehicles
• EPS (TTM): 2.53
• Shares Outstanding: 53,203,568
• 10 Day Avg. Volume: 605,231
• 30 Day Avg. Volume: 752,295
• PEG Ratio: 2.09
• Price to Book (P/B): 1.13
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 8.86
• Enterprise Value/Market Cap: 1.06
• Enterprise Value/Revenue: 0.14
• Enterprise Value/Gross Profit: 3.85
• Enterprise Value/Ebitda: 2.07
• 1Y Price Target: $90.40
• Price Target Upside: -3.04% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 9

• Rating: 73 Outperform
• Price Target: $100.00 ▲(7.26%Upside)

Thor Industries demonstrates strong financial management and positive corporate actions, boosting shareholder value. While technical indicators are favorable, the valuation suggests a degree of overvaluation. The company's robust equity and effective cash flow management are key strengths.

Positive Factors

Earnings

THO's FY3Q25 came in much better than expected, with FY25 guidance reiterated.

Industry Tailwinds

Thor benefits from RV industry tailwinds, including an aging population, ongoing replacement cycle, and popularity of RVs among millennials.

Market Share

THO gained 'meaningful' lot share, both at CWH and other dealers.

Negative Factors

European Market

The quarter was pressured by greater-than-expected weakness in Motorized and Europe, with ongoing destocking.

Financial Guidance

FY2025 guidance was lowered, with THO now expecting sales of $9.0-9.5 billion, gross margin between 13.8% and 14.5%, and EPS in the range of $3.30 to $4.00.

Retail Demand

Retail demand was softer than anticipated, and macro uncertainty will remain an ordering overhang until dealers gain more confidence.

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 makes money primarily through the design, manufacture, and sale of recreational vehicles. Its revenue model is heavily reliant on the sale of RVs, which are distributed through an extensive network of independent dealers across North America and Europe. The company benefits from a diverse product lineup that caters to various segments of the RV market, from entry-level to luxury offerings. In addition to direct sales, Thor Industries generates revenue through aftermarket parts and services, which provide ongoing support and maintenance options for RV owners. Strategic acquisitions and partnerships also play a significant role in Thor's business model, allowing the company to expand its brand portfolio and market reach. Key factors contributing to its earnings include consumer demand for outdoor recreational activities, favorable economic conditions, and the company's ability to innovate and adapt to changing market trends.

Thor Industries Financial Statement Overview

Summary

Thor Industries shows a resilient financial structure with strong cash flow management and a healthy balance sheet. Despite pressures on revenue and net income, the company maintains operational efficiency and a robust equity position, supported by strong cash flow metrics.

Income Statement

Thor Industries has demonstrated a decline in revenue over the last few years, with the TTM (Trailing-Twelve-Months) revenue at $9.59 billion compared to previous years. However, the company maintains a stable gross profit margin of 14.3% for TTM. The net profit margin for TTM is 2.32%, reflecting challenges in maintaining profitability. EBITDA and EBIT margins are somewhat stable, indicating operational efficiency despite revenue pressures.

Balance Sheet

The company maintains a solid equity base with a debt-to-equity ratio of 0.24, showing well-managed leverage. The equity ratio stands at 58.9%, indicating a strong financial position with a substantial portion of assets financed by equity. ROE for TTM is 5.27%, suggesting moderate returns on equity given the industry context.

Cash Flow

Thor Industries exhibits strong cash flow management, with a free cash flow growth rate of 32.7% from the previous year, highlighting efficiency in cash generation. The operating cash flow to net income ratio is 2.95, indicating robust cash flow relative to net income. The free cash flow to net income ratio is 2.42, showing effective cash conversion capabilities.

Breakdown	TTM	Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020
Income Statement
Total Revenue	9.59B	10.04B	11.12B	16.31B	12.32B	8.17B
Gross Profit	1.37B	1.45B	1.60B	2.81B	1.89B	1.12B
EBITDA	610.02M	714.50M	862.42M	1.82B	1.14B	583.02M
Net Income	222.82M	265.31M	374.27M	1.14B	659.87M	222.97M
Balance Sheet
Total Assets	7.17B	7.02B	7.26B	7.41B	6.65B	5.77B
Cash, Cash Equivalents and Short-Term Investments	508.32M	501.32M	441.23M	311.69M	445.85M	541.36M
Total Debt	1.02B	1.13B	1.30B	1.75B	1.59B	1.65B
Total Liabilities	2.95B	2.95B	3.28B	3.81B	3.71B	3.43B
Stockholders Equity	4.22B	4.07B	3.98B	3.57B	2.92B	2.35B
Cash Flow
Free Cash Flow	538.65M	405.91M	773.44M	747.90M	397.65M	434.24M
Operating Cash Flow	657.26M	545.55M	981.63M	990.25M	526.48M	540.94M
Investing Cash Flow	-111.27M	-146.81M	-222.48M	-1.05B	-428.49M	-84.25M
Financing Cash Flow	-408.44M	-337.68M	-635.68M	-47.84M	-188.44M	-392.92M

Thor Industries Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 93.23
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For THO, the sentiment is Positive. The current price of 93.23 is above the 20-day moving average (MA) of 89.16, above the 50-day MA of 83.84, and above the 200-day MA of 92.54, indicating a bullish trend. The MACD of 2.78 indicates Negative momentum. The RSI at 63.42 is Neutral, neither overbought nor oversold. The STOCH value of 81.25 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for THO.

Thor Industries Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
THO	73 Outperform	$4.96B	22.37	5.42%	2.15%	-6.41%	-15.85%
LCII	73 Outperform	$2.53B	16.40	11.44%	4.59%	1.04%	65.90%
PII	65 Neutral	$2.81B	70.32	3.09%	5.36%	-17.86%	-89.55%
BC	64 Neutral	$4.04B	50.70	5.16%	2.84%	-15.42%	-77.50%
Sector *	62 Neutral	C$5.19B	9.07	20.23%	3.58%	3.46%	8.83%
MBUU	59 Neutral	$674.94M	―	-1.68%	―	-27.18%	84.33%
WGO	48 Neutral	$934.26M	―	-1.35%	4.08%	-9.32%	-120.00%

Thor Industries Corporate Events

Thor Industries Announces New $400M Share Buyback Plan

On June 18, 2025, THOR Industries’ Board of Directors retired the existing share repurchase authorization and re-authorized a new plan allowing management to repurchase up to $400 million of the company’s common stock until July 31, 2027. This move reflects THOR’s commitment to enhancing shareholder value, particularly amidst a challenging RV market, and underscores the company’s confidence in its long-term growth potential.

The most recent analyst rating on (THO) stock is a Hold with a $100.00 price target. To see the full list of analyst forecasts on Thor Industries stock, see the THO Stock Forecast page.

Thor Industries Declares Quarterly Cash Dividend

On June 18, 2025, THOR Industries, Inc. announced that its Board of Directors declared a regular quarterly cash dividend of $0.50 per share, payable on July 15, 2025, to shareholders recorded by July 1, 2025. This decision underscores THOR’s commitment to providing consistent returns to its shareholders, reflecting its stable financial performance and reinforcing its position in the recreational vehicle industry.

The most recent analyst rating on (THO) stock is a Hold with a $100.00 price target. To see the full list of analyst forecasts on Thor Industries stock, see the THO Stock Forecast page.

Thor Industries Reports Strong Q3 2025 Financial Results

THOR Industries announced its fiscal 2025 third-quarter results, highlighting a 3.3% increase in net sales compared to the previous year, reaching $2.89 billion. The company achieved a gross profit margin of 15.3% and reported a net income of $135.2 million, reflecting an 18.1% increase from the prior year. Despite challenges in the RV industry, THOR’s strategic initiatives and operational efficiencies resulted in strong performance, with a 9.1% increase in North American Towable RV net sales. The company remains optimistic about its future prospects, reaffirming its full-year fiscal guidance.

The most recent analyst rating on (THO) stock is a Hold with a $100.00 price target. To see the full list of analyst forecasts on Thor Industries stock, see the THO Stock Forecast page.