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Thor Industries Inc (THO) stock

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NYSE: THO NYSE Automobile Manufacturers Next results ~December 2, 2026

B Fundamentals grade

Thor Industries Inc is a US-listed company in the automobile manufacturers industry. Its financial year ends in July.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$120

Cash-flow model

Base case. Range ~$88–$160 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 51% above it.

Price used: $79.49, November 2, 2026

Thor Industries Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 1 selling1 purchase and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds174 adding, 217 cuttingOf 48 active managers that changed their stake, 20 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Thor Industries files

Where Thor Industries stands after its latest 10-K

Revenue for the twelve months to July 2026 was $9.61bn, up 0.3% on a year earlier, slower than 2.4% a quarter earlier. That puts it 823 of 931 for growth among all the companies we cover. Free-cash-flow margin fell to 1.8% from 4.8% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 4 of our 5 financial-health checks. Our cash-flow model value is $105 a share, against a share price of $66.95. At that price, our model says the market is pricing in cash flow shrinking about 5.1% a year for five years, close to the -4.8% a year revenue growth it has delivered.

Source: 10-K filed September 22, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 2, 2026 (estimated)

Thor Industries Inc's trailing-twelve-month revenue grew 0.3% year on year, with a free-cash-flow margin of 1.8%. Where it stands out: stock pay as % of revenue of 0.3% ranks 2 of 15 automobile manufacturers companies we cover.

Our discounted-cash-flow model values the business at ~$120 per share in the base case (~$88–$160 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 63.0% while net income fell 31.3%: a 32pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $79.49 is 51% below our value per share of $120.
  • Shrinking share count. Diluted shares fell 1.6% in a year, so each share owns more of the business.

Things to watch

  • Growth easing. The growth rate is 2.1 points lower than a quarter earlier.
  • Heavily shorted. 13.9% of the shares available to trade are sold short (5.3 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 16.0% over 90 days.

Latest results: FY2026 Q4

Filed September 22, 2026
Earnings per share
$0.78 against an average estimate of $0.92: missed by 15.2%
Revenue
$2.31bn, down 8.4% on a year earlier
Share reaction
+3.4% in the first session after the results on September 22, 2026, against -0.7% for the S&P 500
Guidance given
cumulative cost savings from strategic initiatives and restructuring activities $100m (once the initiatives are fully implemented)
Next report
December 2, 2026; average EPS estimate $0.14

Thor Industries' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+7.6%
  • 1 week+14.2%
  • 1 month+15.2%
  • This year-20.5%
  • 1 year-21.8%
  • 5 years-20.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$9.6B
Net margin
1.8%
EPS (TTM, diluted)
$3.38

Growth

Revenue growth
+0.3%
Change in growth rate
−2.1 pts
Share count change
−1.6%

Cash

Free cash flow (TTM)
$169M
FCF margin
1.8%
Stock pay % of revenue
0.3%

Earnings

Last results
September 22, 2026
Next results (est.)
December 22, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Dividend
  2. Announcement
  3. Results
  4. Guidance
  5. Announcement
  6. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Thor Industries Inc valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 4.8% a year for five years.That is close to the -4.8% a year revenue growth Thor Industries has delivered.

  • Priced in-4.8%
  • Last 12 months0.3%
  • 3 years a year-4.8%
  • 5 years a year-4.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($77.18, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$120
Price used
$77.18close November 3, 2026
Implied change
▲ +55%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Thor Industries Inc's free cash flow after stock-based pay with after-tax interest added back ($400M, FY2026 Q4 TTM), growing 1.1% and 2.9% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$88–~$160 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Thor Industries Inc's free cash flow after stock-based pay ( $400M, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Thor Industries Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$120 ~$88–$160 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$100 ~$78–$140 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$110 ~$97–$130 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$110 ~$100–$120 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Thor Industries Inc with Automobile Manufacturers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −29%
  • Revenue growth 5 points higher ▲ +38%
  • Free-cash-flow margin 1 point lower ▼ −54%
  • Last year's free-cash-flow margin change, if it persists ▼ −62%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $102$142$195$264$354$471
8.5% $76$105$143$192$257$340
10% $61$83$112$150$199$262

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$62.22$86.82$79.14$51.06$100.13$105.59$76.70$107.36$100.56$88.20$74.39
Market value$3.3bn$4.6bn$4.2bn$2.8bn$5.5bn$5.9bn$4.2bn$5.8bn$5.4bn$4.7bn$3.9bn
+ Net debt (− = net cash)$150m−$78m−$195m$1.5bn$1.2bn$1.2bn$1.5bn$911m$705m$396m$447m
Enterprise value$3.4bn$4.5bn$4.0bn$4.3bn$6.7bn$7.1bn$5.7bn$6.7bn$6.1bn$5.1bn$4.4bn
Multiples
Price / sales 0.7x0.6x0.5x0.4x0.7x0.5x0.3x0.5x0.5x0.5x0.4x
Price / earnings 12.8x12.2x9.7x20.7x24.9x8.9x3.7x15.4x20.4x18.2x22.0x
Price / free cash flow 11.3x15.1x12.7x7.2x12.7x14.9x5.7x7.5x13.3x10.3x23.2x
EV / EBITDA ———————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

54 /100

Moderate moat

How hard Thor Industries's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.4% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 14.2%, moving by 1.3 percentage points (standard deviation) across 10 years.

  • Durability 8 / 20

    Net margin has been a median 3.0%; its worst year was 1.7%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 10 of 10 years, at a median 4.4% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 5.6% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (60 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 2, 2026, before the open. Analysts expect revenue of $2.3bn and EPS of $0.14 (range −$0.01 to $0.53) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.63 +8% $9.7bn +1%
Next $4.80 +32% $10.1bn +5%

Next year's EPS estimate has moved −16.0% in 90 days, across 12 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −22.0% on 90 days ago. In the last 30 days, 0 analysts raised Thor Industries Inc's forecast and 12 cut it.

Consensus EPS forecast Thor Industries Inc, last 90 days
$3.00 $4.00 $5.00 $6.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.66 Current fiscal year, 60 days ago: $4.58 Current fiscal year, 30 days ago: $4.44 Current fiscal year, 7 days ago: $3.72 Current fiscal year, Now: $3.63 $3.63 Next fiscal year, 90 days ago: $5.71 Next fiscal year, 60 days ago: $5.49 Next fiscal year, 30 days ago: $5.30 Next fiscal year, 7 days ago: $4.84 Next fiscal year, Now: $4.80 $4.80

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.66$5.71
60 days ago $4.58$5.49
30 days ago $4.44$5.30
7 days ago $3.72$4.84
Now $3.63$4.80

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $0.92 $0.78 −15.2%
Apr 2026 $1.93 $1.86 −3.7%
Jan 2026 $0.04 $0.34 +860.2%
Oct 2025 −$0.07 $0.41 +707.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 22, 2026
  • cumulative cost savings from strategic initiatives and restructuring activities once the initiatives are fully implemented about $100m New
    “In the meantime, we can share that we expect the cumulative impact of our key strategic initiatives and restructuring activities to drive costs out of our business and improve our earnings profile in excess of $100 million annually once the initiatives are fully implemented.” source

How earlier guidance turned out

  • Diluted earnings per share, fiscal 2026 guided $3.30 to $3.80 Within range: $3.38
  • Consolidated net sales, fiscal 2026 guided $9bn to $9.5bn Above range: $9.608145bn

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Thor Industries Inc's revenue by +1.1% next year and +2.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+0.7%, weight 68%) and the company's own record (+2.0%, weight 32%) . How the weights are set.

Analyst recommendations

17 analysts, Oct 2026
Buy529%
Hold1165%
Sell16%

Monthly trend

  1. Oct 202641117
  2. Sep 202641218
  3. Aug 202641218

Counts of recommendations published by analysts covering Thor Industries Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.9%
of tradable shares
Days to cover
5.35
at average volume
Short interest, 1 month
−5%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
5.0%
of shares
Employees
19,500
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −21.8%

$101.64 on October 31, 2025 to $79.49

ThenNowEffect
Revenue (last 12 months) $9.6bn $9.6bn +0.3%
Net margin 2.7% 1.8% −31.5%
P/E multiple 21.0x 23.5x +12.1%
Share count 53m 53m +1.6%

Biggest factor: net margin.

Last 3 years −13.0%

$91.37 on November 3, 2023 to $79.49

ThenNowEffect
Revenue (last 12 months) $11.1bn $9.6bn −13.6%
Net margin 3.4% 1.8% −45.1%
P/E multiple 13.1x 23.5x +79.0%
Share count 54m 53m +2.5%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
THO+13%−26%+60%−18%+10%−21%
Industry peers (median)+26%−65%+7%−43%−50%−57%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
THO50%25%42%42%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
THO−38%−35%−27%−31%−38%−46%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 77% from January 24, 2018 to March 18, 2020. Getting back needed a 334% gain, reached on March 15, 2021, 362 days after the low.

Price behaviour

52-week range
$63.38 – $117.79
From 52-week high
−32.5%
vs 50-day average
+12.4%
vs 200-day average
−1.1%
Volatility (1 year)
39%
Beta vs S&P 500
0.90

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±5.4%
After a week
6 up, 6 down
typical move ±6.7%
After a month
4 up, 8 down
typical move ±9.2%
Results releasedNext dayS&P 500 next day5 days21 days
September 22, 2026 +3.4% −0.7% +0.3% −5.0%
June 3, 2026 −3.5% −0.3% −3.5% −1.7%
March 3, 2026 −5.0% −0.2% −11.5% −18.6%
December 3, 2025 −7.4% +0.4% −2.8% −4.2%
September 24, 2025 +3.5% −0.8% +1.8% +7.1%
June 4, 2025 +4.3% −0.5% +6.6% +11.2%
March 5, 2025 −9.2% −0.7% −17.6% −25.4%
December 4, 2024 −4.1% +0.5% −2.3% −11.1%
September 24, 2024 +3.1% +0.1% +6.9% +1.0%
June 5, 2024 +1.7% +1.2% +1.5% −3.4%
March 6, 2024 −15.9% +1.5% −18.9% −11.2%
December 6, 2023 +4.0% +0.4% +6.9% +10.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Thor Industries Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Thor Industries Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Thor Industries Inc
$9B $9.5B $10B $10.5B $11B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $10.5B Revenue (TTM), FY24 Q2: $10.4B Revenue (TTM), FY24 Q3: $10.2B Revenue (TTM), FY24 Q4: $10B Revenue (TTM), FY25 Q1: $9.7B Revenue (TTM), FY25 Q2: $9.5B Revenue (TTM), FY25 Q3: $9.6B Revenue (TTM), FY25 Q4: $9.6B Revenue (TTM), FY26 Q1: $9.8B Revenue (TTM), FY26 Q2: $9.9B Revenue (TTM), FY26 Q3: $9.8B Revenue (TTM), FY26 Q4: $9.6B $9.6B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $10.5B
FY24 Q2 $10.4B
FY24 Q3 $10.2B
FY24 Q4 $10B
FY25 Q1 $9.7B
FY25 Q2 $9.5B
FY25 Q3 $9.6B
FY25 Q4 $9.6B
FY26 Q1 $9.8B
FY26 Q2 $9.9B
FY26 Q3 $9.8B
FY26 Q4 $9.6B
Revenue growth, TTM YoY Thor Industries Inc
-40% -30% -20% -10% 0% 10% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: -32.0% Revenue growth, TTM YoY, FY24 Q2: -25.5% Revenue growth, TTM YoY, FY24 Q3: -16.0% Revenue growth, TTM YoY, FY24 Q4: -9.7% Revenue growth, TTM YoY, FY25 Q1: -7.9% Revenue growth, TTM YoY, FY25 Q2: -8.5% Revenue growth, TTM YoY, FY25 Q3: -6.4% Revenue growth, TTM YoY, FY25 Q4: -4.6% Revenue growth, TTM YoY, FY26 Q1: 1.4% Revenue growth, TTM YoY, FY26 Q2: 4.6% Revenue growth, TTM YoY, FY26 Q3: 2.4% Revenue growth, TTM YoY, FY26 Q4: 0.3% 0.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 -32.0%
FY24 Q2 -25.5%
FY24 Q3 -16.0%
FY24 Q4 -9.7%
FY25 Q1 -7.9%
FY25 Q2 -8.5%
FY25 Q3 -6.4%
FY25 Q4 -4.6%
FY26 Q1 1.4%
FY26 Q2 4.6%
FY26 Q3 2.4%
FY26 Q4 0.3%
FCF margin (TTM) Thor Industries Inc
0% 2% 4% 6% 8% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 7.2% FCF margin (TTM), FY24 Q2: 5.5% FCF margin (TTM), FY24 Q3: 5.4% FCF margin (TTM), FY24 Q4: 4.0% FCF margin (TTM), FY25 Q1: 4.1% FCF margin (TTM), FY25 Q2: 5.7% FCF margin (TTM), FY25 Q3: 5.6% FCF margin (TTM), FY25 Q4: 4.8% FCF margin (TTM), FY26 Q1: 3.8% FCF margin (TTM), FY26 Q2: 2.3% FCF margin (TTM), FY26 Q3: 2.0% FCF margin (TTM), FY26 Q4: 1.8% 1.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 7.2%
FY24 Q2 5.5%
FY24 Q3 5.4%
FY24 Q4 4.0%
FY25 Q1 4.1%
FY25 Q2 5.7%
FY25 Q3 5.6%
FY25 Q4 4.8%
FY26 Q1 3.8%
FY26 Q2 2.3%
FY26 Q3 2.0%
FY26 Q4 1.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jul 2010 2011 Jul 2011 2012 Jul 2012 2013 Jul 2013 2014 Jul 2014 2015 Jul 2015 2016 Jul 2016 2017 Jul 2017 2018 Jul 2018 2019 Jul 2019 2020 Jul 2020 2021 Jul 2021 2022 Jul 2022 2023 Jul 2023 2024 Jul 2024 2025 Jul 2025 2026 Jul 2026
Income
Revenue 2.3 2.8 2.6 3.2 3.5 4.0 4.6 7.2 8.3 7.9 8.2 12.3 16.3 11.1 10.0 9.6 9.6
Gross profit 0.3 0.3 0.3 0.4 0.5 0.6 0.7 1.0 1.2 1.0 1.1 1.9 2.8 1.6 1.5 1.3 1.2
Net income 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.4 0.4 0.1 0.2 0.7 1.1 0.4 0.3 0.3 0.2
Diluted EPS $2.07 $1.92 $2.26 $2.88 $3.35 $3.74 $4.88 $7.09 $8.14 $2.47 $4.02 $11.85 $20.59 $6.95 $4.94 $4.84 $3.38
Growth (year on year)
Revenue +49.6% +21.0% −4.2% +22.8% +8.8% +13.7% +14.4% +58.2% +14.9% −5.6% +3.9% +50.8% +32.4% −31.8% −9.7% −4.6% +0.3%
Net income — −3.4% +14.6% +25.6% +17.1% +11.4% +28.7% +45.9% +14.9% −69.0% — +195.9% +72.4% −67.1% −29.1% −2.5% −31.3%
Diluted EPS — −7.2% +17.7% +27.4% +16.3% +11.6% +30.5% +45.3% +14.8% −69.7% — +194.8% +73.8% −66.2% −28.9% −2.0% −30.2%
Margins
Gross margin 13.5% 12.1% 12.1% 13.1% 13.3% 13.9% 15.9% 14.4% 14.0% 12.4% 13.7% 15.4% 17.2% 14.4% 14.5% 14.0% 12.6%
Net margin 4.8% 3.9% 4.6% 4.7% 5.1% 5.0% 5.6% 5.2% 5.2% 1.7% 2.7% 5.4% 7.0% 3.4% 2.6% 2.7% 1.8%
Free-cash-flow margin 3.9% 2.9% 4.1% 3.7% 3.4% 5.1% 6.3% 4.2% 3.9% 4.8% 5.3% 3.2% 4.6% 6.9% 4.0% 4.8% 1.8%
Cash flow
Cash from operations 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.4 0.5 0.5 0.5 0.5 1.0 1.0 0.5 0.6 0.3
Capital spending 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.1 0.1 0.2
Free cash flow 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.3 0.4 0.4 0.4 0.7 0.8 0.4 0.5 0.2
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow after stock pay 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.3 0.4 0.4 0.4 0.7 0.7 0.4 0.4 0.1
Balance sheet
Cash 0.2 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.3 0.4 0.5 0.4 0.3 0.4 0.5 0.6 0.5
Total debt 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.1 0.1 2.0 1.7 1.6 1.8 1.4 1.2 1.0 0.9
Net debt (negative = net cash) −0.2 −0.2 −0.2 −0.2 −0.3 −0.2 0.2 −0.1 −0.2 1.5 1.2 1.2 1.5 0.9 0.7 0.4 0.4
Diluted shares 53m 55m 54m 53m 53m 53m 53m 53m 53m 54m 55m 56m 55m 54m 54m 53m 53m
Returned to shareholders
Dividends 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Buybacks 0.1 — 0.1 — — 0.1 — — — — 0.0 0.0 0.2 0.0 0.1 0.1 0.1
Total returned 0.2 0.0 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.1 0.2 0.2 0.2

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 5 checks passed · July 31, 2026
What it owns · $7.0bn
Short-term assets $2.7bnLonger-term assets $4.2bn
What it owes, and who funded it · $5.8bn
Short-term liabilities $1.6bnShareholders' equity $4.3bn
  • Short-term assets cover short-term liabilities $2.7bn of assets due within a year against $1.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $482m of cash against $868m of debt.
  • Debt below 40% of shareholders' equity Debt is 20% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 67% to 20% over five years.
  • A year's operating cash flow covers at least 20% of debt $321m of operating cash flow against $868m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Thor Industries Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q4 TTM
Buybacks (TTM)
$115M
Buybacks, last 3 fiscal years
$236M
Diluted share count
−1.6%
year over year
Total shareholder yield
2.8%
dividends 0.0% + buybacks 2.8% of market value
Sales & admin spending
9.4%
of revenue
Days sales outstanding
18 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in automobile manufacturers
Last 12 months unless stated THO XPEV RACE NIO RIVN LI Median
Revenue, last 12 months $9.6bn $10.7bn $8.1bn $12.2bn $6.5bn $15.6bn $6.5bn
Revenue growth, last 12 months 0.3% 88.0% 11.8% 33.3% 11.1% −22.2% 1.7%
Revenue growth, 3-year average −4.8% — — — 19.7% — 2.7%
Revenue growth, latest quarter −8.4% — — — 38.3% — −2.0%
Gross margin 12.6% 18.9% 51.7% 13.6% 9.2% 18.7% 13.3%
Operating margin — −3.6% 29.5% −16.0% −52.9% −0.5% −16.2%
Operating margin, 3-year average — — 25.8% — −78.2% — 0.0%
Net margin 1.8% −1.5% 22.3% −17.8% −45.9% 1.0% −14.5%
Cash from operations / revenue 3.3% 10.8% 32.9% 3.4% −40.6% −7.7% 3.4%
Free-cash-flow margin 1.8% 6.7% 26.1% −3.5% −64.7% −11.4% 2.1%
Free-cash-flow margin, 3-year average 3.5% — 20.6% — −61.8% — 4.0%
Stock pay / revenue 0.3% 0.7% — 2.0% 12.2% 1.1% 1.1%
Change in share count −1.6% 0.7% −0.9% 10.6% 14.9% 0.6% 0.5%

Median of all 23 companies we cover in automobile manufacturers. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 automobile manufacturers companies
Measure Company Peer median Rank
Revenue growth Growth 0.3% 1.7% 13 of 23
Change in growth rate Growth -2.1pp -2.1pp 12 of 23
Gross margin Profitability 12.6% 13.0% 13 of 21
Net margin Profitability 1.8% -14.5% 5 of 23
Free-cash-flow margin Cash generation 1.8% 2.4% 12 of 22
Stock pay as % of revenue Cash generation 0.3% 1.1% 2 of 15
Long-term debt as % of assets Balance sheet 12.4% 16.3% 9 of 18
Change in share count Balance sheet -1.6% 0.5% 6 of 21
Days sales outstanding Balance sheet 18 days 34 days 5 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to July 31, 2026
Geography
Region Revenue Share YoY
United States $5.8B 60.6% ▼ 4.8%
Germany $2B 20.9% ▲ 4.5%
Other Europe $1.3B 13.5% ▲ 17.7%
Canada $440M 4.6% ▲ 12.0%
Other Country $35M 0.4% ▼ 13.4%

From Thor Industries Inc's 10-K filed September 22, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.2B
Institutions reporting
405
Shares held vs prior quarter
▲ 2.5%
Positions opened / closed
57 / 67

Top buyers and sellers, Q2 2026: 174 institutions bought and 217 sold ; the biggest buyer was Canada Pension Plan Investment Board (+864K shares) and the biggest seller Jpmorgan Chase & Co (−1.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
ACR Alpine Capital Research, LLC $415M 5.5M 10.0% ▲ 12.7%
Blackrock, Inc. $363M 4.8M 8.7% ▲ 1.6%
Life Cycle Investment Partners Ltd $308M 4.1M 7.4% ▲ 25.2%
Kayne Anderson Rudnick Investment Management LLC $272M 3.6M 6.6% ▼ 15.5%
Dimensional Fund Advisors LP $232M 3.1M 5.6% ▼ 1.8%
Vanguard Portfolio Management LLC $200M 2.7M 4.8% ▲ 0.8%
Timucuan Asset Management Inc $192M 2.6M 4.6% ▲ 0.3%
Vanguard Capital Management LLC $172M 2.3M 4.1% ▲ 0.7%
State Street Corp $127M 1.7M 3.1% ▲ 2.7%
Capital Research Global Investors $106M 1.4M 2.6% ▼ 8.5%
Geode Capital Management, LLC $75.1M 999K 1.8% ▲ 0.5%
Envestnet Asset Management Inc $74.2M 988K 1.8% ▲ 9.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Thor Industries Inc's complete shareholder register. Values are as reported by the filers ; 5 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $229,450 1 trade by 1 insider, last 12 months Insider sales History → $702,866 2 trades by 1 insider · 0% under pre-set plans
Net ▼ $473,416 net selling
Insider Date Trade Shares Price Value
Orthwein Peter Busch Director March 6, 2026 Buy 2,600 $88.25 $229,450
Woelfer W. Todd SVP, CHIEF OPERATING OFFICER January 15, 2026 Sell 4,567 $114.85 $524,520
Woelfer W. Todd SVP, CHIEF OPERATING OFFICER December 12, 2025 Sell 1,729 $103.15 $178,346

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 12 trades and filings

No trades in Thor Industries Inc disclosed in the last 12 months; 12 earlier trades on record.

  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded July 14, 2023, filed August 13, 2023
  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded April 10, 2023, filed May 19, 2023
  • Thomas MacArthur(NJ):Sale (full), $15,001 - $50,000, traded December 7, 2018, filed January 11, 2019

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 22, 2026 estimated from the company's past filing pattern, not announced

  • September 22, 2026
  • June 3, 2026
  • March 3, 2026
  • December 3, 2025
  • September 24, 2025
  • June 4, 2025

Recent SEC filings

Data status

When each part of this page on Thor Industries Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Thor Industries Inc in brief

What does Thor Industries Inc do?
Thor Industries Inc is a US-listed company in the automobile manufacturers industry. Its financial year ends in July.
What is Thor Industries Inc's stock ticker?
Thor Industries Inc trades under the ticker THO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Thor Industries Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Thor Industries Inc reported revenue of $9.6B, 0.3% higher than a year earlier, according to its SEC filings.
What is Thor Industries Inc's free cash flow?
Thor Industries Inc's free-cash-flow margin is 1.8% of revenue over the trailing twelve months, ranking 12 of the 22 automobile manufacturers companies we cover.
What is Thor Industries Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Thor Industries Inc's free cash flow after stock-based pay gives ~$120 per share in the base case, and ~$88–$160 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Thor Industries Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are ACR Alpine Capital Research, LLC, Blackrock, Inc. and Life Cycle Investment Partners Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Thor Industries Inc buying back stock, and does it pay a dividend?
Thor Industries Inc spent $115M on share repurchases over the trailing twelve months, and its diluted share count fell 1.6% over the year.
What is Thor Industries Inc's market cap?
On July 31, 2026, Thor Industries Inc's market capitalisation was about $3.9B, with a price-to-earnings ratio of 22.0 and net debt of $447M. Market figures come from third-party market data and may be delayed.
How much debt does Thor Industries Inc have?
Thor Industries Inc's debt-to-equity ratio is 20.4%, from its latest balance sheet (67.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Thor Industries Inc's competitors?
In our Automobile Manufacturers peer group, the companies closest to Thor Industries Inc are Xpeng Inc., Ferrari N.V., NIO Inc., Rivian Automotive, Inc. / DE and Li Auto Inc. The side-by-side comparison below sets their revenue, margins and growth against Thor Industries Inc's.
Are insiders buying or selling Thor Industries Inc stock?
Over the last 12 months, Thor Industries Inc's directors and officers reported 1 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Thor Industries Inc's next earnings date?
Around December 2, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Thor Industries Inc announces its own schedule.