NYSE : THO
THOR Industries, Inc. — Financial statements
Consumer Discretionary · Recreational Vehicles · United States
Last price 73.62 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.80B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
THOR Industries, Inc. (THO) reported revenue of 9.61B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 9.61B | 9.61B | 9.58B | 10.04B | 11.12B | 16.31B |
| Cost of Revenue | 8.40B | 8.40B | 8.24B | 8.59B | 9.53B | 13.51B |
| Gross Profit | 1.21B | 1.21B | 1.34B | 1.45B | 1.60B | 2.81B |
| Selling, General & Admin | 903.40M | 903.40M | 922.55M | 895.53M | 870.05M | 1.12B |
| Amortization of Goodwill & Intangibles | 112.16M | 112.16M | 119.03M | 132.54M | 140.81M | 156.95M |
| Operating Expenses | 1.02B | 1.02B | 1.04B | 1.03B | 1.01B | 1.27B |
| Operating Income | 197.07M | 197.07M | 299.06M | 423.89M | 585.49M | 1.53B |
| Interest Expense | -45.26M | -45.26M | -61.22M | -99.97M | -97.45M | -90.09M |
| Interest & Investment Income | 8.43M | 8.43M | 12.78M | 11.30M | ||
| Earnings From Equity Investments | 1.07M | 1.07M | -3.77M | -13.11M | -10.13M | |
| Other Non Operating Income (Expenses) | 48.53M | 48.53M | 12.73M | 17.13M | 21.44M | 17.33M |
| EBT Excluding Unusual Items | 209.85M | 209.85M | 259.57M | 339.25M | 499.35M | 1.46B |
| Gain (Loss) on Sale of Assets | 36.70M | 36.70M | 24.46M | 9.60M | ||
| Asset Writedown | -7.82M | -7.82M | ||||
| Pretax Income | 238.72M | 238.72M | 296.19M | 348.84M | 499.35M | 1.46B |
| Income Tax Expense | 64.07M | 64.07M | 39.60M | 83.44M | 125.11M | 321.62M |
| Earnings From Continuing Operations | 174.65M | 174.65M | 256.59M | 265.40M | 374.24M | 1.14B |
| Net Income to Company | 174.65M | 174.65M | 256.59M | 265.40M | 374.24M | 1.14B |
| Minority Interest in Earnings | 2.88M | 2.88M | 1.97M | -92.00K | 31.00K | -439.00K |
| Net Income | 177.54M | 177.54M | 258.56M | 265.31M | 374.27M | 1.14B |
| Net Income to Common | 177.54M | 177.54M | 258.56M | 265.31M | 374.27M | 1.14B |
| Shares Outstanding (Basic) | 52.37M | 52.37M | 53.09M | 53.25M | 53.48M | 55.03M |
| Shares Outstanding (Diluted) | 52.56M | 52.56M | 53.40M | 53.69M | 53.86M | 55.26M |
| EPS (Basic) | 3.39 | 3.39 | 4.87 | 4.98 | 7.00 | 20.67 |
| EPS (Diluted) | 3.38 | 3.38 | 4.84 | 4.94 | 6.95 | 20.59 |
| Free Cash Flow | 168.84M | 168.84M | 454.94M | 405.91M | 773.44M | 747.76M |
| Free Cash Flow Per Share | 3.21 | 3.21 | 8.52 | 7.56 | 14.36 | 13.53 |
| Dividend Per Share | 2.08 | 2.08 | 2.00 | 1.92 | 1.80 | 1.72 |
| Gross Margin | 12.62% | 12.62% | 13.99% | 14.46% | 14.35% | 17.20% |
| Operating Margin | 2.05% | 2.05% | 3.12% | 4.22% | 5.26% | 9.40% |
| Profit Margin | 1.85% | 1.85% | 2.70% | 2.64% | 3.36% | 6.98% |
| Free Cash Flow Margin | 1.76% | 1.76% | 4.75% | 4.04% | 6.95% | 4.58% |
| EBITDA | 463.43M | 463.43M | 570.27M | 701.03M | 862.42M | 1.82B |
| EBITDA Margin | 4.82% | 4.82% | 5.95% | 6.98% | 7.75% | 11.14% |
| D&A For EBITDA | 266.36M | 266.36M | 271.21M | 277.14M | 276.93M | 284.45M |
| EBIT | 197.07M | 197.07M | 299.06M | 423.89M | 585.49M | 1.53B |
| EBIT Margin | 2.05% | 2.05% | 3.12% | 4.22% | 5.26% | 9.40% |
| Effective Tax Rate | 26.84% | 26.84% | 13.37% | 23.92% | 25.05% | 22.03% |
| Advertising Expenses | 81.81M | 81.81M | 78.35M | 77.03M | 66.17M | 55.46M |
Balance sheet
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 481.99M | 481.99M | 586.60M | 501.32M | 441.23M | 311.55M |
| Cash & Short-Term Investments | 481.99M | 481.99M | 586.60M | 501.32M | 441.23M | 311.55M |
| Accounts Receivable | 486.75M | 486.75M | 541.71M | 502.30M | 543.87M | 848.81M |
| Other Receivables | 214.15M | 214.15M | 165.65M | 198.59M | 99.35M | 95.37M |
| Receivables | 700.90M | 700.90M | 707.36M | 700.89M | 643.22M | 944.18M |
| Inventory | 1.42B | 1.42B | 1.35B | 1.37B | 1.65B | 1.75B |
| Other Current Assets | 133.93M | 133.93M | 132.22M | 81.18M | 56.06M | 51.97M |
| Total Current Assets | 2.74B | 2.74B | 2.78B | 2.65B | 2.79B | 3.06B |
| Property, Plant & Equipment | 1.31B | 1.31B | 1.32B | 1.39B | 1.39B | 1.26B |
| Long-Term Investments | 63.81M | 63.81M | 136.78M | 137.27M | 126.91M | 10.81M |
| Goodwill | 1.92B | 1.92B | 1.84B | 1.79B | 1.80B | 1.80B |
| Other Intangible Assets | 684.49M | 684.49M | 758.76M | 861.13M | 996.98M | 1.12B |
| Long-Term Deferred Tax Assets | 3.71M | 3.71M | 35.67M | 28.41M | 5.77M | 7.95M |
| Long-Term Deferred Charges | 5.94M | |||||
| Other Long-Term Assets | 238.37M | 238.37M | 199.25M | 166.29M | 149.36M | 141.15M |
| Total Assets | 6.96B | 6.96B | 7.07B | 7.02B | 7.26B | 7.41B |
| Accounts Payable | 740.55M | 740.55M | 738.14M | 628.13M | 736.27M | 822.45M |
| Accrued Expenses | 393.93M | 393.93M | 413.92M | 415.30M | 418.86M | 461.88M |
| Current Portion of Long-Term Debt | 2.81M | 2.81M | 3.37M | 32.65M | 11.37M | 13.19M |
| Current Portion of Leases | 11.44M | 11.44M | 13.08M | 12.26M | 11.99M | 10.62M |
| Current Income Taxes Payable | 58.48M | 58.48M | 59.39M | 74.99M | 99.47M | 54.44M |
| Other Current Liabilities | 342.90M | 342.90M | 356.80M | 403.70M | 438.51M | 393.34M |
| Total Current Liabilities | 1.55B | 1.55B | 1.58B | 1.57B | 1.72B | 1.76B |
| Long-Term Debt | 865.14M | 865.14M | 919.61M | 1.10B | 1.29B | 1.75B |
| Long-Term Leases | 30.57M | 30.57M | 30.98M | 33.87M | 39.50M | 38.31M |
| Long-Term Deferred Tax Liabilities | 49.78M | 49.78M | 54.40M | 74.40M | 75.67M | 115.93M |
| Other Long-Term Liabilities | 200.58M | 200.58M | 186.04M | 170.21M | 154.47M | 143.09M |
| Total Liabilities | 2.70B | 2.70B | 2.78B | 2.95B | 3.28B | 3.81B |
| Common Stock | 6.77M | 6.77M | 6.73M | 6.69M | 6.63M | 6.61M |
| Additional Paid-In Capital | 635.69M | 635.69M | 608.48M | 577.01M | 539.03M | 497.95M |
| Retained Earnings | 4.48B | 4.48B | 4.41B | 4.25B | 4.09B | 3.81B |
| Treasury Stock | -872.16M | -872.16M | -744.26M | -677.30M | -592.67M | -543.34M |
| Comprehensive Income & Other | 15.22M | 15.22M | 10.39M | -93.71M | -68.55M | -181.61M |
| Total Common Equity | 4.26B | 4.26B | 4.29B | 4.07B | 3.98B | 3.59B |
| Minority Interest | -1.48M | -1.48M | 1.05M | 6.62M | 7.38M | 7.79M |
| Shareholders' Equity | 4.26B | 4.26B | 4.29B | 4.07B | 3.98B | 3.60B |
| Total Liabilities & Equity | 6.96B | 6.96B | 7.07B | 7.02B | 7.26B | 7.41B |
| Total Debt | 909.98M | 909.98M | 967.03M | 1.18B | 1.35B | 1.82B |
| Net Cash (Debt) | -427.99M | -427.99M | -380.44M | -678.73M | -912.94M | -1.50B |
| Net Cash Per Share | -8.14 | -8.14 | -7.12 | -12.64 | -16.95 | -27.23 |
| Filing Date Shares Outstanding | 51.61M | 51.61M | 52.63M | 52.93M | 53.31M | 53.68M |
| Total Common Shares Outstanding | 51.61M | 51.61M | 52.63M | 52.93M | 53.31M | 53.68M |
| Working Capital | 1.19B | 1.19B | 1.19B | 1.08B | 1.08B | 1.31B |
| Book Value Per Share | 82.56 | 82.56 | 81.48 | 76.84 | 74.58 | 66.93 |
| Tangible Book Value | 1.66B | 1.66B | 1.69B | 1.42B | 1.18B | 671.22M |
| Tangible Book Value Per Share | 32.17 | 32.17 | 32.08 | 26.81 | 22.11 | 12.50 |
| Land | 146.61M | 146.61M | 146.25M | 151.16M | 147.63M | 142.22M |
| Buildings | 1.06B | 1.06B | 1.03B | 1.05B | 1.04B | 926.49M |
| Machinery | 978.51M | 978.51M | 934.19M | 865.33M | 771.86M | 668.89M |
| Order Backlog | 3.30B | 3.30B | 3.06B |
Cash flow statement
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 177.54M | 177.54M | 258.56M | 265.31M | 374.27M | 1.14B |
| Depreciation & Amortization | 266.36M | 266.36M | 271.21M | 277.14M | 276.93M | 284.45M |
| Other Amortization | 3.83M | 3.83M | 7.34M | 18.27M | 11.46M | 11.32M |
| Loss (Gain) From Sale of Assets | -36.70M | -36.70M | -24.46M | -9.60M | -3.32M | -7.56M |
| Asset Writedown & Restructuring Costs | 13.23M | 13.23M | 3.53M | |||
| Loss (Gain) From Sale of Investments | -22.23M | -22.23M | -4.67M | 2.94M | ||
| Stock-Based Compensation | 26.58M | 26.58M | 30.87M | 37.90M | 39.51M | 31.42M |
| Other Operating Activities | 24.54M | 24.54M | -31.47M | -24.88M | -34.51M | -51.45M |
| Change in Accounts Receivable | 4.27M | 4.27M | 6.69M | -60.15M | 313.41M | 39.25M |
| Change in Inventory | -73.28M | -73.28M | 29.12M | 236.92M | 109.97M | -381.54M |
| Change in Accounts Payable | -817.00K | -817.00K | 90.41M | -101.91M | -120.68M | -116.61M |
| Change in Income Taxes | -27.03M | -27.03M | 5.28M | -12.57M | 1.05M | -13.88M |
| Change in Other Net Operating Assets | -35.07M | -35.07M | -64.48M | -83.83M | 13.54M | 56.91M |
| Operating Cash Flow | 321.22M | 321.22M | 577.92M | 545.55M | 981.63M | 990.12M |
| Capital Expenditures | -152.39M | -152.39M | -122.99M | -139.63M | -208.19M | -242.36M |
| Sale of Property, Plant & Equipment | 67.88M | 67.88M | 63.30M | 24.93M | 13.65M | 16.07M |
| Cash Acquisitions | -9.55M | -9.55M | -7.31M | -6.18M | -781.97M | |
| Other Investing Activities | -31.38M | -31.38M | -4.78M | -24.79M | -21.76M | -41.00M |
| Investing Cash Flow | -125.44M | -125.44M | -64.47M | -146.81M | -222.48M | -1.05B |
| Short-Term Debt Issued | 657.00K | 657.00K | 23.43M | 25.14M | ||
| Long-Term Debt Issued | 23.22M | 23.22M | 300.23M | 1.16B | ||
| Total Debt Issued | 23.87M | 23.87M | 323.65M | 25.14M | 1.16B | |
| Short-Term Debt Repaid | -15.36M | |||||
| Long-Term Debt Repaid | -83.83M | -83.83M | -237.85M | -464.08M | -515.54M | -904.56M |
| Total Debt Repaid | -83.83M | -83.83M | -253.21M | -464.08M | -515.54M | -904.56M |
| Net Debt Issued (Repaid) | -59.96M | -59.96M | -253.21M | -140.43M | -490.39M | 255.53M |
| Repurchase of Common Stock | -115.13M | -115.13M | -52.65M | -68.39M | -42.01M | -165.11M |
| Common Dividends Paid | -108.77M | -108.77M | -106.13M | -102.14M | -95.97M | -94.94M |
| Other Financing Activities | -12.77M | -12.77M | -14.32M | -26.73M | -7.32M | -43.32M |
| Financing Cash Flow | -296.62M | -296.62M | -426.31M | -337.68M | -635.68M | -47.84M |
| Foreign Exchange Rate Adjustments | -3.77M | -3.77M | -1.87M | -975.00K | 6.21M | -30.17M |
| Net Cash Flow | -104.61M | -104.61M | 85.28M | 60.08M | 129.68M | -137.15M |
| Free Cash Flow | 168.84M | 168.84M | 454.94M | 405.91M | 773.44M | 747.76M |
| Free Cash Flow Margin | 1.76% | 1.76% | 4.75% | 4.04% | 6.95% | 4.58% |
| Free Cash Flow Per Share | 3.21 | 3.21 | 8.52 | 7.56 | 14.36 | 13.53 |
| Levered Free Cash Flow | 140.29M | 140.29M | 338.56M | 428.76M | 784.32M | 552.92M |
| Unlevered Free Cash Flow | 164.74M | 164.74M | 369.48M | 472.97M | 833.77M | 597.91M |
| Cash Interest Paid | 43.63M | 43.63M | 58.63M | 86.42M | 95.38M | 74.45M |
| Cash Income Tax Paid | 61.80M | 61.80M | 108.82M | 147.13M | 143.08M | 380.87M |
| Change in Working Capital | -131.93M | -131.93M | 67.02M | -21.54M | 317.29M | -415.87M |
Ratios
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.00B | 3.90B | 4.84B | 5.65B | 6.16B | 4.60B |
| Enterprise Value | 4.43B | 4.45B | 5.39B | 6.57B | 7.52B | 6.32B |
| Last Close Price | 73.90 | 74.39 | 88.20 | 100.56 | 107.36 | 76.70 |
| PE Ratio | 22.96 | 21.98 | 18.72 | 21.28 | 16.45 | 4.04 |
| Forward PE | 21.15 | 18.69 | 22.21 | 17.89 | 18.67 | 7.27 |
| PS Ratio | 0.40 | 0.41 | 0.51 | 0.56 | 0.55 | 0.28 |
| PB Ratio | 0.90 | 0.92 | 1.13 | 1.39 | 1.55 | 1.28 |
| P/TBV Ratio | 2.30 | 2.35 | 2.87 | 3.98 | 5.22 | 6.85 |
| P/FCF Ratio | 22.59 | 23.12 | 10.64 | 13.91 | 7.96 | 6.15 |
| P/OCF Ratio | 11.87 | 12.15 | 8.38 | 10.35 | 6.27 | 4.64 |
| PEG Ratio | 0.76 | 1.59 | 1.94 | 0.76 | 0.76 | 1.93 |
| EV/Sales Ratio | 0.44 | 0.46 | 0.56 | 0.65 | 0.68 | 0.39 |
| EV/EBITDA Ratio | 9.15 | 9.60 | 9.46 | 9.37 | 8.71 | 3.48 |
| EV/EBIT Ratio | 21.53 | 22.57 | 18.04 | 15.50 | 12.84 | 4.13 |
| EV/FCF Ratio | 25.13 | 26.35 | 11.86 | 16.19 | 9.72 | 8.46 |
| Debt / Equity Ratio | 0.21 | 0.21 | 0.23 | 0.29 | 0.34 | 0.50 |
| Debt / EBITDA Ratio | 1.82 | 1.82 | 1.60 | 1.61 | 1.52 | 0.98 |
| Debt / FCF Ratio | 5.39 | 5.39 | 2.13 | 2.91 | 1.75 | 2.43 |
| Net Debt / Equity Ratio | 0.10 | 0.10 | 0.09 | 0.17 | 0.23 | 0.42 |
| Net Debt / EBITDA Ratio | 0.92 | 0.92 | 0.67 | 0.97 | 1.06 | 0.83 |
| Net Debt / FCF Ratio | 2.54 | 2.54 | 0.84 | 1.67 | 1.18 | 2.01 |
| Asset Turnover | 1.37 | 1.37 | 1.36 | 1.41 | 1.52 | 2.32 |
| Inventory Turnover | 6.05 | 6.05 | 6.06 | 5.69 | 5.59 | 8.65 |
| Quick Ratio | 0.76 | 0.76 | 0.82 | 0.77 | 0.63 | 0.71 |
| Current Ratio | 1.77 | 1.77 | 1.75 | 1.69 | 1.63 | 1.74 |
| Return on Equity (ROE) | 4.09% | 4.09% | 6.14% | 6.59% | 9.87% | 34.76% |
| Return on Assets (ROA) | 1.76% | 1.76% | 2.65% | 3.71% | 4.99% | 13.62% |
| Return on Invested Capital (ROIC) | 3.02% | 3.08% | 5.50% | 6.68% | 8.77% | 25.80% |
| Return on Capital Employed (ROCE) | 3.60% | 3.60% | 5.50% | 7.80% | 10.60% | 27.10% |
| Earnings Yield | 4.36% | 4.55% | 5.34% | 4.70% | 6.08% | 24.74% |
| FCF Yield | 4.43% | 4.33% | 9.40% | 7.19% | 12.56% | 16.26% |
| Dividend Yield | 2.81% | 2.75% | 2.17% | 1.80% | 1.56% | 2.01% |
| Payout Ratio | 63.91% | 61.26% | 41.05% | 38.50% | 25.64% | 8.34% |
| Buyback Yield / Dilution | 1.57% | 1.57% | 0.53% | 0.32% | 2.55% | 0.76% |
| Total Shareholder Return | 4.49% | 4.32% | 2.71% | 2.11% | 4.11% | 2.77% |