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

$73.90+0.28(<0.01%)Market closed

Market Cap

$4.01B

P/E

22.6x

P/S

0.4x

P/B

0.9x

THOR Industries, Inc. manufactures and sells recreational vehicles (RVs), and related parts and accessories in the United States, Germany, rest of Europe, Canada, and internationally. It operates through three segments: North American Towable Recreational Vehicles; North American Motorized Recreational Vehicles; and European Recreational Vehicles. The company offers travel trailers and motorhomes; Class A, Class C and Class B motorhomes; and fifth wheels under the Airstream Classic, Globetrotter, International, Tradewind, Flying Cloud, Caravel, Bambi, World Traveler, Basecamp, Interstate, Atlas, Rangeline, Jay Flight, Jay Feather, Eagle, Pinnacle, Colt, Range Lite, 3X, Prowler, North Trail, Big Horn, Odyssey, Esteem, Emblem, Insignia, Montana, Springdale, Hideout, Sprinter, Arcadia, Bullet, Fuzion, Raptor, Reign, Passport, Sprout, Cougar, Coleman, Kodiak, Aspen Trail, Astoria, Voltage, Colorado, Sunset Trail, Zinger, Redwood, Classic, Sportsmen, Connect, Ridgeway, Durango, Durango Gold, Sportster X, Sienna, Sonic, Stratus, and SportTrek brands. It also provides gasoline and diesel Class A products under the ACE, Resonate, Hurricane, Windsport, Outlaw, Indigo, Luminate, Vegas, Axis, Rize, Scope, Sequence, Tellaro, Palladium, Talavera, Sanctuary, Tranquility, Four Winds, Chateau, Compass, Gemini, Magnitude, Omni, Inception, Pasadena, Inception HD, Pasadena SV, Palazzo, Riviera, Aria, Allegro, Allegro Bay, Allegro Breeze, Allegro Bus, Allegro Red, Byway, GH1, GH2, GT1, GT2, Midas, Open Trail, Phaeton, Wayfarer, and Zephyr. In addition, the company offers recreational vehicles; and motorized and towable recreational vehicles, including motorcaravans, campervans, urban vehicles, and caravan. Further, it sells RV-related products; and manufactures and sells aluminum extrusions and specialized component products. 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

AverageMetricSide Score: 41/100

Strongest: Balance Sheet & Red Flags (20/25); weakest: Profitability (4/25).

Profitability4/25

Growth11/25

Balance Sheet & Red Flags20/25

Cash & Earnings Quality6/25

Strengths

Low leverageConsistent growthNo share dilution

Valuation vs. 5-year range

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

P/E · 22.6x5y range 3.9x – 27.7x

Currently above its 20-quarter median.

P/S · 0.4x5y range 0.3x – 0.6x

Currently near its 20-quarter median.

P/B · 0.9x5y range 0.9x – 1.8x

Watch items

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

High Risk

Margin Pressure

Red Flag

Operating margins dropped 22.7% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

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

Price & Volume

Market Cap $4.01B

Metrics at a Glance

as of July 2026

Revenue & Profit

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

TTM Revenue: $9.61B
Q. Revenue: $2.31B
TTM EBITDA: $575.59M
TTM Op. Income: $309.23M
Q. Op. Income: $79.22M
TTM Net Income: $177.54M
Q. Net Income: $40.84M
EPS: $0.788
Shares Out.: $51.82M

$9.61B in TTM revenue grew 0.3% YoY, reaching $2.31B last quarter. TTM EBITDA of $575.59M and TTM operating income of $309.23M show growth is flowing through to the bottom line. TTM net income of $177.54M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 2 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 12.4%
EBITDA Margin: 6.4%
Op. Margin: 3.4%
Net Margin: 1.8%

Op. margin of 3.4% is down 1.8% YoY — costs are rising relative to revenue. Net margin at 1.8% and gross margin of 12.4% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 35% — a weakening trend.

Price Ratios

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

P/E Ratio: 22.6x
P/S Ratio: 0.4x
P/B Ratio: 0.9x

At 22.6x P/E, the stock trades within typical market levels. P/S of 0.4x and P/B of 0.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 18% — a weakening trend.

Assets & Liabilities

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

Total Assets: $6.96B
Cash: $481.99M
Long-Term Debt: $865.14M
Book Value: $4.26B
D/E Ratio: 0.2
Debt/EBITDA: 5.8

With $6.96B in assets and $865.14M in long-term debt, D/E is 0.2and book value is $4.26B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 5% — a weakening trend.

Cash Flow

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

Op. Cash Flow: $244.18M
TTM Free Cash Flow: $168.84M
FCF Margin: 1.8%
FCF / Net Income: 1.0

TTM FCF of $168.84M on $244.18M in operating cash flow. The FCF / Net Income ratio of 1.0x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 6 consecutive quarters — a weakening trend.