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Winnebago Industries Inc key statistics and ratios

In fiscal 2026, Winnebago Industries Inc had return on equity of 2.8%, an operating margin of 2.4%, debt equal to 36.4% of equity and a current ratio of 2.17. 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 year2010Aug 20102011Aug 20112012Aug 20122013Aug 20132014Aug 20142015Aug 20152016Aug 20162017Aug 20172018Aug 20182019Aug 20192020Aug 20202021Aug 20212022Aug 20222023Aug 20232024Aug 20242025Aug 20252026Aug 2026
Gross margin5.8%8.0%7.5%10.5%11.0%10.7%11.6%14.4%14.9%15.5%13.3%17.9%18.7%16.8%14.6%13.0%13.0%
Operating margin0.1%2.3%1.6%5.5%6.8%6.1%6.7%8.1%8.0%7.8%4.8%11.2%11.8%8.6%3.4%2.0%2.4%
Net margin2.3%2.4%7.7%4.0%4.8%4.2%4.7%4.6%5.1%5.6%2.6%7.8%7.9%6.2%0.4%0.9%1.3%
Free-cash-flow margin6.9%−2.5%−0.4%0.7%1.4%2.9%2.9%5.4%2.7%4.7%10.1%5.3%6.3%6.1%3.3%3.2%5.3%
Return on equity10.5%11.5%35.5%20.3%24.8%19.9%18.6%20.1%21.0%19.2%8.4%29.9%33.7%16.4%1.0%2.1%2.8%
Return on assets—4.9%17.1%10.7%13.5%11.4%12.1%11.0%10.5%10.2%4.3%14.9%17.4%8.9%0.5%1.1%1.6%
Asset turnover—2.072.212.702.832.712.592.392.061.811.651.922.211.441.231.231.27
Current ratio—3.213.073.182.723.263.021.881.822.062.382.602.102.522.442.422.17
Debt to equity0.0%0.0%0.0%0.0%0.0%0.0%0.0%64.3%55.9%40.2%72.5%56.8%47.5%43.9%55.7%44.9%36.4%
Interest cover (operating income ÷ interest)———————7.4x8.8x8.7x3.0x10.1x14.1x14.7x4.7x2.2x3.2x
Effective tax rate—0.8%—29.1%30.3%30.8%31.3%34.3%28.2%19.5%20.5%23.3%24.1%22.7%66.1%14.6%22.3%
R&D as % of revenue0.7%0.6%0.6%0.5%0.5%0.4%0.4%——————————
SG&A as % of revenue———————6.3%6.5%7.2%7.5%6.3%6.4%7.7%9.4%10.2%9.7%
Capital spending as % of revenue0.4%0.4%0.4%0.6%1.1%1.7%2.5%0.9%1.4%2.1%1.4%1.2%1.8%2.4%1.5%1.4%0.9%
Free cash flow ÷ net income304.1%−103.3%−4.7%18.2%28.3%69.4%62.0%116.5%53.4%83.1%387.4%68.3%80.0%97.9%760.8%348.2%419.1%
Dividends ÷ net income———0.0%0.0%23.7%23.9%17.9%12.4%12.2%23.7%5.7%6.1%15.4%283.1%151.4%115.7%
Dividends and buybacks ÷ free cash flow0.8%——218.7%206.4%56.9%49.5%17.2%35.1%23.5%6.9%33.2%76.2%41.8%112.5%103.5%28.8%

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

5 of 7 checks passed · August 29, 2026
What it owns · $2.1bn
Short-term assets $778mLonger-term assets $1.3bn
What it owes, and who funded it · $2.1bn
Short-term liabilities $359mLonger-term liabilities $506mShareholders' equity $1.2bn
  • Short-term assets cover short-term liabilities $778m of assets due within a year against $359m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $778m short-term assets against $506m of longer-dated liabilities.
  • More cash than debt $181m of cash against $443m of debt.
  • Debt below 40% of shareholders' equity Debt is 36% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 44% to 36% over five years.
  • A year's operating cash flow covers at least 20% of debt $169m of operating cash flow against $443m of debt.
  • Operating profit covers interest at least five times over Operating income of $66m against $21m of interest.

From Winnebago 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

51 /100

Moderate moat

How hard Winnebago 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 10 / 20

    Cash operating profit has been a median 8.6% of total assets over 9 years.

  • Pricing power 8 / 20

    Gross margin has been a median 14.7%, moving by 1.9 percentage points (standard deviation) across 10 years.

  • Durability 5 / 20

    Operating margin has been a median 7.9%; its worst year was 2.0%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 10 of 10 years, at a median 5.3% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 16.7% over five years; stock-based pay has been a median 0.4% 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 (56 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

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Figures from Winnebago Industries Inc's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Winnebago Industries Inc.