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Thor Industries Inc key statistics and ratios

In fiscal 2026, Thor Industries Inc had return on equity of 4.2%, a net margin of 1.8%, debt equal to 21.8% of equity and a current ratio of 1.77. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2010Jul 20102011Jul 20112012Jul 20122013Jul 20132014Jul 20142015Jul 20152016Jul 20162017Jul 20172018Jul 20182019Jul 20192020Jul 20202021Jul 20212022Jul 20222023Jul 20232024Jul 20242025Jul 20252026Jul 2026
Gross margin13.5%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 margin4.8%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 margin3.9%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%
Return on equity16.7%14.2%14.4%17.5%19.1%19.5%22.0%26.3%24.5%6.6%10.1%25.2%34.9%9.9%6.6%6.2%4.2%
Return on assets11.4%9.8%10.0%11.9%13.1%13.7%13.4%15.3%16.1%3.2%3.9%10.6%16.2%5.1%3.7%3.7%2.5%
Asset turnover2.362.552.162.522.582.752.392.973.121.861.431.982.321.521.411.361.37
Current ratio2.342.242.202.302.282.051.561.511.711.411.391.561.741.631.691.751.77
Debt to equity0.0%0.0%0.0%0.0%0.0%0.0%28.5%9.2%4.1%93.8%73.8%56.2%50.1%34.0%29.6%22.9%21.8%
Effective tax rate35.8%35.0%32.6%31.7%30.6%31.0%32.7%32.7%32.0%28.3%18.9%21.8%22.0%25.1%23.9%13.4%26.8%
R&D as % of revenue———————0.0%0.0%0.1%————0.5%0.5%0.4%
SG&A as % of revenue6.5%6.6%5.6%6.0%5.9%6.3%6.7%5.8%5.7%6.8%7.8%7.1%6.8%7.8%8.9%9.6%9.4%
Capital spending as % of revenue0.5%1.2%0.4%0.7%0.9%1.1%1.1%1.6%1.7%1.6%1.3%1.1%1.5%1.9%1.4%1.3%1.6%
Free cash flow ÷ net income80.3%76.3%89.4%79.0%66.4%103.1%112.8%81.3%76.3%285.7%195.1%59.8%65.9%206.5%153.0%176.5%95.1%
Dividends ÷ net income38.5%21.0%26.6%25.0%27.4%28.8%24.5%18.5%18.1%63.1%39.6%13.8%8.3%25.6%38.5%41.0%61.3%
Dividends and buybacks ÷ free cash flow178.6%27.5%100.5%31.6%41.2%57.1%21.8%22.8%23.8%22.1%20.3%23.0%34.7%17.9%42.0%34.8%132.6%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

Head to head: THO vs XPEVRACE vs THONIO vs THORIVN vs THO

More: Automobile Manufacturers stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Thor Industries Inc's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Thor Industries Inc.