Thor Industries (THO) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Thor Industries

NYSE•Consumer Cyclical•Recreational Vehicles

$69.74-1.58(-0.02%)Pre-market

Market Cap

$3.54B

P/E

13.5x

P/S

0.4x

P/B

0.8x

THOR Industries, Inc. designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Germany, rest of Europe, Canada, and internationally. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; conventional motorhomes; luxury fifth wheels; and motorcaravans, campervans, urban vehicles, and caravans, as well as other RV-related products and services. It also provides aluminum extrusion and specialized component products to RV and other manufacturers. The company sells its products to independent and non-franchise dealers. THOR Industries, Inc. was founded in 1980 and is based in Elkhart, Indiana.

How this company scores

GoodMetricSide Score: 61/100

Strongest: Balance Sheet & Red Flags (22/25); weakest: Cash & Earnings Quality (6/25).

Profitability15/25

Growth18/25

Balance Sheet & Red Flags22/25

Cash & Earnings Quality6/25

Strengths

Rising earningsLow leverageInterest easily coveredProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 13.5x5y range 3.9x – 27.7x

Currently near its 20-quarter median.

P/S · 0.4x5y range 0.3x – 0.6x

Currently near its 20-quarter median.

P/B · 0.8x5y range 0.8x – 2.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 18.6% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $3.54B

Metrics at a Glance

as of April 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $9.82B
Q. Revenue: $2.78B
TTM EBITDA: $631.28M
TTM Op. Income: $363.04M
Q. Op. Income: $123.84M
TTM Net Income: $262.46M
Q. Net Income: $97.23M
EPS: $1.86
Shares Out.: $52.24M

$9.82B in TTM revenue grew 2.4% YoY, reaching $2.78B last quarter. TTM EBITDA of $631.28M and TTM operating income of $363.04M show growth is flowing through to the bottom line. TTM net income of $262.46M means revenue is converting into profit. Over the past year, TTM revenue is up 2% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 12.8%
EBITDA Margin: 6.8%
Op. Margin: 4.5%
Net Margin: 3.5%

Op. margin of 4.5% is down 2.6% YoY — costs are rising relative to revenue. Net margin at 3.5% and gross margin of 12.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 37% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 13.5x
P/S Ratio: 0.4x
P/B Ratio: 0.8x

At 13.5x P/E, the stock trades below typical market levels. P/S of 0.4x and P/B of 0.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 24% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $7.15B
Cash: $371.95M
Long-Term Debt: $871.44M
Book Value: $4.31B
D/E Ratio: 0.2
Debt/EBITDA: 4.6

With $7.15B in assets and $871.44M in long-term debt, D/E is 0.2and book value is $4.31B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $234.15M
TTM Free Cash Flow: $199.65M
FCF Margin: 2.0%
FCF / Net Income: 0.8

TTM FCF of $199.65M on $234.15M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 5 consecutive quarters — a weakening trend.