TH
Thor Industries Inc
THO—
Thor Industries Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 1.9B is 43% of equity - acquisition-heavy strategy creates impairment risk if RV demand weakens further.[Goodwill]
- EPS down 45% over 3Y while revenue down only 8% - operating leverage working in reverse as volumes decline.[EPS Growth 3Y]
- FCF of 373M TTM (3.8% yield) despite earnings pressure - working capital release from inventory drawdown.[Free Cash Flow TTM]
Watch Triggers
- Inventory: Rises above 1.6B or turns >90 days — Signals demand weaker than production cuts - margin compression ahead
- Gross Margin TTM: Falls below 12% — Would indicate pricing pressure or input cost inflation eroding economics
- Goodwill: Any impairment charge announced — 43% of equity at risk - would signal permanent value destruction
Bull Case
Asset turnover of 1.42x is 2.1x industry median (0.66x) - capital-light manufacturing model generates superior returns when volumes recover.
Asset Turnover TTMROIC TTM
Debt/equity of 0.21 with 510M cash provides flexibility for cycle downturn and M&A optionality.
Debt to EquityCash and Equivalents
Bear Case
Revenue down 8% over 3Y with EPS down 45% - high fixed cost structure amplifies downside in cyclical downturn.
Total Revenue 3Y GrowthEPS Growth 3Y
Gross margin 14% vs industry median 19% - limited pricing power in commoditized RV market.
Gross Margin TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
40%
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Forward Thesis
Margin recovery likely as inventory normalization completes and dealer destocking ends.
1-3ymed
- Inventory at 1.5B down from cycle peak
- Operating margin 3.3% vs historical 5-7% range
- AP decline of 80M signals production cuts working
Operating margin TTM 3.3% vs median 3.7%Inventory turnover improving per AP trendsFCF positive despite revenue decline
Valuation Context
Caveats
Public Strategies Rankings
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THO Fundamentals
Manufacturing → Transportation Equipment Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$6.08B | — | ||
$6.49B | — | ||
22 | — | ||
$9.83B | +1.4% | — | |
$5.28 | +34.7% | — | |
3.32% | -0.1% | — | |
2.87% | +0.7% | — | |
$373.02M | -4.3% | — | |
0.07 | +1.5% | — | |
Beta 5Y (Monthly) | unknown | — |
THO Dividend History
106 dividends
2026
$0.520001/05/26$0.5200
2025
$2.020010/23/25$0.5200
07/01/25$0.5000
04/08/25$0.5000
01/06/25$0.5000
2024
$1.460011/01/24$0.5000
07/03/24$0.4800
04/08/24$0.4800
2023
$1.860012/27/23$0.4800
10/31/23$0.4800
07/06/23$0.4500
04/11/23$0.4500
2022
$1.760012/29/22$0.4500
10/25/22$0.4500
07/01/22$0.4300
04/05/22$0.4300
2021
$1.680012/29/21$0.4300
10/21/21$0.4300
07/01/21$0.4100
03/31/21$0.4100
2020
$1.620012/31/20$0.4100
10/22/20$0.4100
06/29/20$0.4000
04/01/20$0.4000
2019
$1.580012/24/19$0.4000
10/24/19$0.4000
06/28/19$0.3900
04/03/19$0.3900
2018
$1.520012/26/18$0.3900
10/24/18$0.3900
06/29/18$0.3700
03/28/18$0.3700
2017
$1.400012/22/17$0.3700
10/23/17$0.3700
06/21/17$0.3300
03/28/17$0.3300
2016
$1.260012/21/16$0.3300
10/20/16$0.3300
06/16/16$0.3000
03/30/16$0.3000
2015
$1.140012/18/15$0.3000
10/14/15$0.3000
06/24/15$0.2700
04/01/15$0.2700
2014
$1.000012/19/14$0.2700
10/15/14$0.2700
06/11/14$0.2300
03/26/14$0.2300
2013
$1.820012/24/13$0.2300
11/01/13$1.0000
10/16/13$0.2300
06/14/13$0.1800
04/05/13$0.1800
2012
$2.160012/19/12$1.6800
09/20/12$0.1800
06/15/12$0.1500
03/30/12$0.1500
2011
$0.500012/27/11$0.1500
09/28/11$0.1500
06/16/11$0.1000
04/06/11$0.1000
2010
$0.340012/21/10$0.1000
10/14/10$0.1000
06/24/10$0.0700
03/18/10$0.0700
2009
$0.780012/21/09$0.0700
10/14/09$0.5700
06/18/09$0.0700
03/18/09$0.0700
2008
$0.280012/19/08$0.0700
10/15/08$0.0700
06/12/08$0.0700
03/18/08$0.0700
2007
$2.280012/05/07$0.0700
09/25/07$2.0700
06/13/07$0.0700
03/15/07$0.0700
2006
$1.280012/06/06$0.0700
09/25/06$1.0700
06/13/06$0.0700
03/15/06$0.0700
2005
$0.410012/14/05$0.0500
09/14/05$0.0500
07/20/05$0.2500
06/13/05$0.0300
03/16/05$0.0300
2004
$0.120012/15/04$0.0300
10/04/04$0.0300
06/14/04$0.0300
03/10/04$0.0300
2003
$0.045012/17/03$0.0150
10/02/03$0.0150
06/12/03$0.0100
03/12/03$0.0050
2002
$0.020012/18/02$0.0050
09/26/02$0.0050
06/12/02$0.0050
03/13/02$0.0050
2001
$0.020012/19/01$0.0050
09/27/01$0.0050
06/13/01$0.0050
03/14/01$0.0050
2000
$0.020012/20/00$0.0050
09/27/00$0.0050
06/14/00$0.0050
03/15/00$0.0050
THO Stock Splits
2 stock splits
01/27/040.5:1 split
07/09/021:2 split
THO SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
12/03/25 | 10/31/25 | 10-Q | |
09/24/25 | 07/31/25 | Unknown | |
06/04/25 | 04/30/25 | 10-Q | |
03/05/25 | 01/31/25 | 10-Q | |
12/04/24 | 10/31/24 | 10-Q | |
09/24/24 | 07/31/24 | 10-K | |
06/05/24 | 04/30/24 | 10-Q | |
03/06/24 | 01/31/24 | 10-Q | |
12/06/23 | 10/31/23 | 10-Q | |
09/25/23 | 07/31/23 | 10-K | |
06/06/23 | 04/30/23 | 10-Q | |
03/07/23 | 01/31/23 | 10-Q | |
12/07/22 | 10/31/22 | 10-Q | |
09/28/22 | 07/31/22 | 10-K | |
06/08/22 | 04/30/22 | 10-Q | |
03/09/22 | 01/31/22 | 10-Q | |
12/08/21 | 10/31/21 | 10-Q | |
09/28/21 | 07/31/21 | 10-K | |
06/08/21 | 04/30/21 | 10-Q | |
03/09/21 | 01/31/21 | 10-Q | |
12/08/20 | 10/31/20 | 10-Q | |
09/28/20 | 07/31/20 | 10-K | |
06/08/20 | 04/30/20 | 10-Q | |
03/09/20 | 01/31/20 | 10-Q | |
12/09/19 | 10/31/19 | 10-Q | |
09/30/19 | 07/31/19 | 10-K | |
06/10/19 | 04/30/19 | 10-Q | |
03/06/19 | 01/31/19 | 10-Q | |
12/06/18 | 10/31/18 | 10-Q | |
09/20/18 | 07/31/18 | 10-K | |
06/06/18 | 04/30/18 | 10-Q | |
03/07/18 | 01/31/18 | 10-Q | |
11/27/17 | 10/31/17 | 10-Q | |
09/27/17 | 07/31/17 | 10-K | |
06/05/17 | 04/30/17 | 10-Q | |
03/06/17 | 01/31/17 | 10-Q | |
11/28/16 | 10/31/16 | 10-Q | |
09/26/16 | 07/31/16 | 10-K | |
06/06/16 | 04/30/16 | 10-Q | |
03/07/16 | 01/31/16 | 10-Q | |
11/30/15 | 10/31/15 | 10-Q | |
09/21/15 | 07/31/15 | 10-K | |
06/04/15 | 04/30/15 | 10-Q | |
03/05/15 | 01/31/15 | 10-Q | |
12/01/14 | 10/31/14 | 10-Q | |
09/25/14 | 07/31/14 | 10-K | |
06/05/14 | 04/30/14 | 10-Q | |
03/06/14 | 01/31/14 | 10-Q | |
12/02/13 | 10/31/13 | 10-Q | |
09/26/13 | 07/31/13 | 10-K | |
06/06/13 | 04/30/13 | 10-Q | |
03/07/13 | 01/31/13 | 10-Q | |
11/26/12 | 10/31/12 | 10-Q | |
09/26/12 | 07/31/12 | 10-K | |
06/07/12 | 04/30/12 | 10-Q | |
03/08/12 | 01/31/12 | 10-Q | |
11/28/11 | 10/31/11 | 10-Q | |
09/28/11 | 07/31/11 | 10-K | |
06/08/11 | 04/30/11 | 10-Q | |
03/08/12 | 01/31/11 | 10-Q | |
11/30/10 | 10/31/10 | 10-Q | |
09/29/10 | 07/31/10 | 10-K | |
07/01/10 | 04/30/10 | 10-Q | |
03/10/11 | 01/31/10 | 10-Q | |
03/08/10 | 01/31/10 | 10-Q | |
11/30/09 | 10/30/09 | 10-Q | |
09/29/09 | 07/31/09 | 10-K | |
06/09/09 | 04/30/09 | 10-Q | |
03/09/09 | 01/28/09 | 10-Q | |
12/01/08 | 10/30/08 | Unknown | -- |
09/29/08 | 07/31/08 | 10-K | |
06/09/08 | 04/30/08 | 10-Q | |
03/10/08 | 01/29/08 | Unknown | -- |
11/26/07 | 10/30/07 | Unknown | -- |
10/01/07 | 07/31/07 | 10-K | |
07/03/07 | 04/30/07 | NT 10-Q | |
06/19/07 | 01/28/07 | Unknown | -- |
11/27/06 | 10/30/06 | Unknown | -- |
09/28/06 | 07/31/06 | 10-K | |
05/30/06 | 04/30/06 | 10-Q | |
02/28/06 | 01/28/06 | Unknown | -- |
11/28/05 | 10/30/05 | Unknown | -- |
10/14/05 | 07/31/05 | 10-K | |
06/02/05 | 04/30/05 | 10-Q | |
03/10/05 | 01/28/05 | Unknown | -- |
11/30/04 | 10/30/04 | Unknown | -- |
10/12/04 | 07/31/04 | 10-K | |
06/04/04 | 04/30/04 | 10-Q | |
03/08/04 | 01/29/04 | Unknown | -- |
12/02/03 | 10/30/03 | Unknown | -- |
10/29/03 | 07/31/03 | 10-K | |
06/05/03 | 04/30/03 | 10-Q | |
02/28/03 | 01/28/03 | Unknown | -- |
12/02/02 | 10/30/02 | Unknown | -- |
10/25/02 | 07/31/02 | 10-K | |
05/30/02 | 04/30/02 | 10-Q | |
03/13/02 | 01/28/02 | Unknown | -- |
12/12/01 | 10/30/01 | Unknown | -- |
10/24/01 | 07/31/01 | 10-K405 | |
06/14/01 | 04/30/01 | 10-Q | |
03/16/01 | 01/28/01 | Unknown | -- |
12/13/00 | 10/30/00 | Unknown | -- |
10/25/00 | 07/31/00 | 10-K405 | |
06/13/00 | 04/30/00 | 10-Q | |
03/16/00 | 01/29/00 | Unknown | -- |