What is Thor Industries, Inc.'s earnings per share (EPS)?

Thor Industries, Inc. (THO) reported diluted earnings per share of $3.38 for fiscal year 2026. This represents a -30.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Thor Industries, Inc. (THO) Financials

THO

FY2026 annual

Revenue $9.6B +0.3% YoY

Net Income $177.5M -31.3% YoY

EPS (Diluted) $3.38 -30.2% YoY

Operating Cash Flow $321.2M -44.4% YoY

Market Cap $3.6B as of Oct 23, 2026

Price / Sales 0.4x on $9.6B revenue, FY2026

Price / Earnings 20.4x on $177.5M net income, FY2026

Price / Book 0.8x on $4.3B equity, Q4 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2026, ended Jul 31, 2026 Reported Sep 22, 2026 Currency USD FYE July

Newest figures come from the 10-K for FY2026, filed Sep 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the THO SEC filings page.

Thor Industries, Inc. (THO) reported $9.6B in revenue for fiscal year 2026, up 0.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI THO FY2026 2026-10-04

THOR now operates on thinner margins and lower volume, while deleveraging has kept its financial structure steadier than earnings.

From FY2022 to FY2026, revenue declined from $16.3B to $9.6B while gross margin compressed from 17.2% to 12.6%, indicating weaker profitability is tied to both scale and per-sale economics. By FY2026, net income was $178M against operating cash flow of $321M, so cash generation exceeded reported earnings even though both were below FY2022 levels.

The earnings decline has not been matched by balance-sheet expansion: debt-to-equity fell from 0.5x in FY2022 to 0.2x in FY2026. A current ratio near 1.8x in FY2026 indicates short-term obligations remain covered without the earlier debt load.

Inventory fell from $1.8B to $1.4B between FY2022 and FY2026, but its smaller dollar balance did not keep pace with the revenue contraction. That points to a business still carrying meaningful production stock relative to sales rather than becoming fully asset-light.

Financial Health Signals

Financial Health Score 48/100

Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Thor Industries, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Growth

Thor Industries, Inc.'s revenue grew a modest 0.3% year-over-year to $9.6B. This slow but positive growth earns a score of 23/100.

Leverage

Thor Industries, Inc. carries a low D/E ratio of 0.20, meaning only $0.20 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 75/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Thor Industries, Inc.'s current ratio of 1.77 indicates adequate short-term liquidity, earning a score of 52/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Returns

Thor Industries, Inc.'s ROE of 4.2% shows moderate profitability relative to equity, earning a score of 50/100. This is down from 6.0% the prior year.

Piotroski F-Score Strong

7/9

Thor Industries, Inc. passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.

Earnings Quality Cash-Backed

1.81x

For every $1 of reported earnings, Thor Industries, Inc. generates $1.81 in operating cash flow ($321.2M OCF vs $177.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.3B

YoY-8.4%

QoQ-16.9%

5Y CAGR-8.4%

10Y CAGR+6.0%

Thor Industries, Inc. generated $2.3B in revenue in Q4 2026. This represents a decrease of 8.4% from the same quarter a year earlier. Against the prior quarter it is down 16.9%.

Net Income

$40.8M

YoY-67.5%

QoQ-58.0%

5Y CAGR-29.2%

Thor Industries, Inc. reported $40.8M in net income in Q4 2026. This represents a decrease of 67.5% from the same quarter a year earlier. Against the prior quarter it is down 58.0%.

EPS (Diluted)

$0.79

YoY-66.4%

QoQ-57.5%

5Y CAGR-28.2%

10Y CAGR-6.6%

Thor Industries, Inc. earned $0.79 per diluted share (EPS) in Q4 2026. This represents a decrease of 66.4% from the same quarter a year earlier. Against the prior quarter it is down 57.5%.

EBITDA

Not reported for Q4 2026.

Cash & Balance Sheet

Cash & Debt

$482.0M

YoY-17.8%

QoQ+29.6%

5Y CAGR+1.6%

10Y CAGR+8.7%

Thor Industries, Inc. held $482.0M in cash against $865.1M in long-term debt as of Q4 2026.

Dividends Per Share

$0.52

YoY+4.0%

QoQ0.0%

5Y CAGR+4.9%

Thor Industries, Inc. paid $0.52 per share in dividends in Q4 2026. This represents an increase of 4.0% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

52M

YoY-1.9%

QoQ-0.9%

5Y CAGR-1.4%

10Y CAGR-0.2%

Thor Industries, Inc. had 52M shares outstanding in Q4 2026. This represents a decrease of 1.9% from the same quarter a year earlier. Against the prior quarter it is down 0.9%.

Free Cash Flow

Not reported for Q4 2026.

Margins & Returns

Gross Margin

12.4%

YoY-2.3pp

QoQ-0.4pp

5Y change-4.2pp

10Y change-4.9pp

Thor Industries, Inc.'s gross margin was 12.4% in Q4 2026, indicating the percentage of revenue retained after direct costs. This is down 2.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.

Net Margin

1.8%

YoY-3.2pp

QoQ-1.7pp

5Y change-4.6pp

Thor Industries, Inc.'s net profit margin was 1.8% in Q4 2026, showing the share of revenue converted to profit. This is down 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.7 percentage points.

Return on Equity

1.0%

YoY-2.0pp

QoQ-1.3pp

5Y change-6.9pp

Thor Industries, Inc.'s quarterly ROE was 1.0% in Q4 2026: one quarter's net income over shareholder equity, not annualized. This is down 2.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.3 percentage points.

Operating Margin

Not reported for Q4 2026.

Capital Allocation

Share Buybacks

$34.3M

YoY-32.6%

QoQ-32.0%

5Y CAGRn/m

Thor Industries, Inc. spent $34.3M on share buybacks in Q4 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 32.6% from the same quarter a year earlier. Against the prior quarter it is down 32.0%.

R&D Spending

Not reported for Q4 2026.

Capital Expenditures

Not reported for Q4 2026.

THO Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

THO quarterly income statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$9.6B+0.3%	$9.6B-4.6%	$10.0B-9.7%	$11.1B-31.8%	$16.3B+32.4%	$12.3B+50.8%	$8.2B+3.9%	$7.9B-5.6%	$8.3B+14.9%	$7.2B+58.2%	$4.6B+14.4%	$4.0B+13.7%	$3.5B+8.8%	$3.2B+22.8%	$2.6B
Cost of Revenue	$8.4B+1.9%	$8.2B-4.1%	$8.6B-9.8%	$9.5B-29.5%	$13.5B+29.6%	$10.4B+47.8%	$7.0B+2.3%	$6.9B-3.8%	$7.2B+15.5%	$6.2B+60.9%	$3.9B+11.8%	$3.4B+12.9%	$3.1B+8.4%	$2.8B+21.4%	$2.3B
Gross Profit	$1.2B-9.5%	$1.3B-7.7%	$1.5B-9.0%	$1.6B-43.1%	$2.8B+48.1%	$1.9B+69.5%	$1.1B+14.9%	$973.1M-16.4%	$1.2B+11.6%	$1.0B+43.7%	$726.3M+30.3%	$557.5M+18.5%	$470.4M+10.8%	$424.5M+32.9%	$319.5M
R&D Expenses	$41.6M-14.4%	$48.6M-1.6%	$49.4M	N/A	N/A	N/A	N/A	$9.4M+366.9%	$2.0M-22.0%	$2.6M	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$903.4M-2.1%	$922.6M+3.0%	$895.5M+2.9%	$870.1M-22.1%	$1.1B+28.3%	$869.9M+37.2%	$634.1M+18.3%	$536.0M+12.3%	$477.4M+13.7%	$419.8M+37.1%	$306.3M+22.1%	$250.9M+20.2%	$208.7M+7.2%	$194.7M+31.3%	$148.3M
Interest Expense	$45.3M-26.1%	$61.2M-38.8%	$100.0M+7.5%	$93.0M+20.2%	$77.3M-17.3%	$93.5M+0.1%	$93.5M+64.2%	$56.9M+997.6%	$5.2M-46.7%	$9.7M+511.2%	$1.6M+784.4%	$180K+1700.0%	$10K+66.7%	$6K-87.2%	$47K
Income Tax	$64.1M+61.8%	$39.6M-52.5%	$83.4M-33.3%	$125.1M-61.1%	$321.6M+75.1%	$183.7M+256.6%	$51.5M-1.3%	$52.2M-74.3%	$202.9M+11.4%	$182.1M+45.4%	$125.3M+37.9%	$90.9M+17.6%	$77.3M+10.0%	$70.3M+30.3%	$54.0M
Net Income	$177.5M-31.3%	$258.6M-2.5%	$265.3M-29.1%	$374.3M-67.1%	$1.1B+72.4%	$659.9M+195.9%	$223.0M+67.3%	$133.3M-69.0%	$430.2M+14.9%	$374.3M+45.9%	$256.5M+28.7%	$199.4M+11.4%	$179.0M+17.1%	$152.9M+25.6%	$121.7M
EPS (Basic)	$3.39-30.4%	$4.87-2.2%	$4.98-28.9%	$7.00-66.1%	$20.67+73.3%	$11.93+195.3%	$4.04+63.6%	$2.47-69.8%	$8.17+14.7%	$7.12+45.6%	$4.89+30.4%	$3.75+11.6%	$3.36+16.7%	$2.88+27.4%	$2.26
EPS (Diluted)	$3.38-30.2%	$4.84-2.0%	$4.94-28.9%	$6.95-66.2%	$20.59+73.8%	$11.85+194.8%	$4.02+62.8%	$2.47-69.7%	$8.14+14.8%	$7.09+45.3%	$4.88+30.5%	$3.74+11.6%	$3.35+16.3%	$2.88+27.4%	$2.26
Diluted Shares (Avg)	53M-1.6%	53M-0.5%	54M-0.3%	54M-2.5%	55M-0.8%	56M+0.5%	55M+2.5%	54M+2.2%	53M+0.2%	53M+0.3%	53M-1.3%	53M-0.2%	53M+0.5%	53M-1.5%	54M

Metric	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Revenue	$2.3B-8.4%	$2.8B-3.9%	$2.1B+5.3%	$2.4B+11.5%	$2.5B-0.4%	$2.9B+3.3%	$2.0B-8.6%	$2.1B-14.3%
Cost of Revenue	$2.0B-5.9%	$2.4B-1.0%	$1.9B+5.7%	$2.1B+11.1%	$2.2B+0.9%	$2.5B+3.0%	$1.8B-8.4%	$1.9B-13.1%
Gross Profit	$285.6M-23.0%	$354.8M-19.9%	$251.3M+2.5%	$321.0M+14.0%	$370.9M-7.6%	$443.1M+5.0%	$245.2M-9.5%	$281.4M-21.4%
SG&A Expenses	$206.4M-13.2%	$230.9M-3.1%	$212.0M+2.8%	$254.0M+5.8%	$237.9M+3.0%	$238.3M+5.2%	$206.2M-6.3%	$240.2M+10.2%
Interest Expense	$10.8M-23.5%	$10.8M-23.0%	$11.7M-24.1%	$11.9M-32.3%	$14.2M-35.2%	$14.0M-42.5%	$15.5M-49.4%	$17.6M-24.2%
Income Tax	$10.5M-37.5%	$37.9M+75.2%	$6.4M+326.5%	$9.3Mn/m	$16.7M-52.9%	$21.7M-24.7%	$1.5M-5.0%	-$283K-101.6%
Net Income	$40.8M-67.5%	$97.2M-28.1%	$17.8Mn/m	$21.7Mn/m	$125.8M+39.7%	$135.2M+18.1%	-$551K-107.6%	-$1.8M-103.4%
EPS (Basic)	$0.79-66.7%	$1.86-26.8%	$0.34n/m	$0.41n/m	$2.37+40.2%	$2.54+18.1%	-$0.01-107.1%	-$0.03-103.0%
EPS (Diluted)	$0.79-66.4%	$1.86-26.5%	$0.34n/m	$0.41n/m	$2.35+39.9%	$2.53+18.8%	-$0.01-107.7%	-$0.03-103.0%
Diluted Shares (Avg)	N/A	52M-1.9%	53M-0.7%	53M0.0%	N/A	53M-0.5%	53M-0.8%	53M-1.6%

Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA.

THO Balance Sheet

THO quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$7.0B-1.5%	$7.1B+0.6%	$7.0B-3.3%	$7.3B-2.0%	$7.4B+11.3%	$6.7B+15.3%	$5.8B+2.0%	$5.7B+103.7%	$2.8B+8.6%	$2.6B+10.0%	$2.3B+54.7%	$1.5B+6.7%	$1.4B+6.1%	$1.3B+6.9%	$1.2B
Current Assets	$2.7B-1.4%	$2.8B+4.8%	$2.7B-5.1%	$2.8B-8.8%	$3.1B+9.2%	$2.8B+33.4%	$2.1B+3.2%	$2.0B+55.3%	$1.3B+11.1%	$1.2B+16.1%	$1.0B+31.1%	$775.8M-8.1%	$844.0M+1.6%	$830.7M+21.3%	$684.9M
Cash & Equivalents	$482.0M-17.8%	$586.6M+17.0%	$501.3M+13.6%	$441.2M+41.6%	$311.6M-30.1%	$445.9M-17.2%	$538.5M+26.5%	$425.6M+54.6%	$275.2M+23.3%	$223.3M+6.4%	$209.9M+14.4%	$183.5M-36.6%	$289.3M+22.3%	$236.6M+8.2%	$218.6M
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Inventory	$1.4B+5.3%	$1.4B-1.1%	$1.4B-17.3%	$1.7B-5.8%	$1.8B+28.1%	$1.4B+91.2%	$716.3M-13.5%	$828.0M+53.9%	$537.9M+16.8%	$460.5M+14.0%	$403.9M+64.1%	$246.1M+13.8%	$216.4M+41.4%	$153.0M-17.8%	$186.1M
Accounts Receivable	$486.8M-10.1%	$541.7M+7.8%	$502.3M-7.6%	$543.9M-35.9%	$848.8M+6.6%	$796.5M+35.4%	$588.1M+22.9%	$478.5M+2.4%	$467.5M+3.0%	$453.8M+22.6%	$370.1M+51.6%	$244.1M-7.9%	$264.9M+14.8%	$230.9M+4.1%	$221.7M
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Goodwill	$1.9B+4.1%	$1.8B+3.0%	$1.8B-0.7%	$1.8B-0.2%	$1.8B+15.4%	$1.6B+5.9%	$1.5B+8.7%	$1.4B+259.6%	$377.7M0.0%	$377.7M0.0%	$377.7M+20.8%	$312.6M+21.8%	$256.6M+7.8%	$238.1M-2.9%	$245.2M
Total Liabilities	$2.7B-3.0%	$2.8B-6.0%	$3.0B-10.1%	$3.3B-13.9%	$3.8B+2.2%	$3.7B+8.1%	$3.5B-3.5%	$3.6B+325.2%	$840.9M-14.3%	$981.4M-7.4%	$1.1B+142.0%	$438.1M+1.6%	$431.0M-1.1%	$435.7M+11.1%	$392.2M
Current Liabilities	$1.6B-2.2%	$1.6B+1.1%	$1.6B-8.7%	$1.7B-2.2%	$1.8B-2.2%	$1.8B+18.4%	$1.5B+4.6%	$1.4B+88.3%	$769.3M-1.5%	$781.0M+19.9%	$651.7M+72.2%	$378.3M+2.1%	$370.7M+2.5%	$361.7M+16.3%	$311.1M
Non-Current Liabilities	$1.1B-3.8%	$1.2B-13.7%	$1.4B-11.6%	$1.6B-23.9%	$2.1B+7.3%	$1.9B0.0%	$1.9B-9.7%	$2.1B+2856.8%	$71.6M-64.3%	$200.3M-51.0%	$408.6M+584.1%	$59.7M-1.0%	$60.3M-18.5%	$74.0M-8.8%	$81.1M
Long-Term Debt	$865.1M-5.9%	$919.6M-16.5%	$1.1B-14.7%	$1.3B-26.4%	$1.8B+10.0%	$1.6B-3.5%	$1.7B-12.3%	$1.9B	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$4.3B-0.6%	$4.3B+5.4%	$4.1B+2.3%	$4.0B+10.7%	$3.6B+23.0%	$2.9B+26.0%	$2.3B+11.3%	$2.1B+7.6%	$1.9B+22.9%	$1.6B+24.6%	$1.3B+18.8%	$1.1B+8.9%	$977.7M+9.5%	$892.6M+4.9%	$850.8M
Retained Earnings	$4.5B+1.6%	$4.4B+3.6%	$4.3B+4.0%	$4.1B+7.3%	$3.8B+37.6%	$2.8B+25.9%	$2.2B+6.5%	$2.1B+2.2%	$2.0B+21.1%	$1.7B+22.3%	$1.4B+16.5%	$1.2B+13.8%	$1.0B+8.0%	$953.7M+3.8%	$918.6M

Metric	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Total Assets	$7.0B-1.5%	$7.2B-0.2%	$7.0B+4.5%	$7.0B+1.7%	$7.1B+0.6%	$7.2B-0.7%	$6.7B-7.1%	$6.9B-4.2%
Current Assets	$2.7B-1.4%	$2.9B+1.8%	$2.7B+7.6%	$2.7B+7.4%	$2.8B+4.8%	$2.8B-1.2%	$2.5B-11.1%	$2.5B-9.7%
Cash & Equivalents	$482.0M-17.8%	$371.9M-26.8%	$242.2M-35.2%	$509.9M+14.5%	$586.6M+17.0%	$508.3M+36.7%	$373.8M+9.9%	$445.2M+4.6%
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Inventory	$1.4B+5.3%	$1.5B+13.1%	$1.6B+15.1%	$1.5B+6.7%	$1.4B-1.1%	$1.4B-14.2%	$1.4B-22.3%	$1.4B-20.0%
Accounts Receivable	$486.8M-10.1%	$707.0M-1.5%	$632.4M+18.2%	$556.6M+7.8%	$541.7M+7.8%	$717.8M+11.7%	$535.1M+0.1%	$516.4M-5.9%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Goodwill	$1.9B+4.1%	$1.9B+2.1%	$1.9B+7.6%	$1.9B+3.3%	$1.8B+3.0%	$1.8B+3.2%	$1.7B-2.2%	$1.8B+1.3%
Total Liabilities	$2.7B-3.0%	$2.8B-3.6%	$2.7B-2.5%	$2.7B-4.4%	$2.8B-6.0%	$2.9B-8.3%	$2.8B-16.0%	$2.8B-13.5%
Current Liabilities	$1.6B-2.2%	$1.7B+2.2%	$1.5B+4.5%	$1.5B+1.6%	$1.6B+1.1%	$1.7B-4.8%	$1.5B-9.3%	$1.5B-13.7%
Non-Current Liabilities	$1.1B-3.8%	$1.2B-10.8%	$1.2B-10.3%	$1.2B-10.7%	$1.2B-13.7%	$1.3B-12.2%	$1.3B-22.4%	$1.3B-13.2%
Long-Term Debt	$865.1M-5.9%	$871.4M-13.8%	$877.8M-12.5%	$913.1M-12.5%	$919.6M-16.5%	$1.0B-16.4%	$1.0B-27.8%	$1.0B-17.9%
Total Equity	$4.3B-0.6%	$4.3B+2.1%	$4.3B+9.4%	$4.3B+6.0%	$4.3B+5.4%	$4.2B+5.5%	$4.0B+0.4%	$4.1B+3.5%
Retained Earnings	$4.5B+1.6%	$4.5B+3.6%	$4.4B+4.6%	$4.4B+4.1%	$4.4B+3.6%	$4.3B+2.8%	$4.2B+2.4%	$4.2B+2.6%

THO Cash Flow Statement

THO quarterly cash flow statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$321.2M-44.4%	$577.9M+5.9%	$545.5M-44.4%	$981.6M-0.9%	$990.1M+88.1%	$526.5M-2.7%	$540.9M+6.5%	$508.0M+8.9%	$466.5M+11.3%	$419.3M+22.9%	$341.2M+37.7%	$247.9M+66.1%	$149.3M+2.9%	$145.1M+22.1%	$118.8M
Depreciation & Amortization	$266.4M-1.8%	$271.2M-2.1%	$277.1M+0.1%	$276.9M-2.6%	$284.5M+23.4%	$230.6M+17.5%	$196.2M+31.9%	$148.8M+59.6%	$93.2M-5.1%	$98.3M+86.9%	$52.6M+67.5%	$31.4M+21.5%	$25.8M+3.4%	$25.0M0.0%	$25.0M
Stock-Based Compensation	$26.6M-13.9%	$30.9M-18.5%	$37.9M-4.1%	$39.5M+25.8%	$31.4M+3.0%	$30.5M+53.4%	$19.9M+5.0%	$18.9M+11.5%	$17.0M+36.0%	$12.5M+33.2%	$9.4M+38.5%	$6.8M+29.5%	$5.2M+85.8%	$2.8M+309.3%	$688K
Capital Expenditures	N/A	$121.6M-12.9%	$139.6M-33.2%	$208.9M-13.2%	$240.6M+82.7%	$131.7M+24.4%	$105.8M-16.8%	$127.2M-7.9%	$138.2M+20.1%	$115.0M+121.3%	$52.0M+22.9%	$42.3M+39.1%	$30.4M+25.1%	$24.3M+141.5%	$10.1M
Free Cash Flow	N/A	$456.3M+12.4%	$405.9M-47.5%	$772.7M+3.1%	$749.6M+89.9%	$394.8M-9.3%	$435.1M+14.3%	$380.8M+16.0%	$328.3M+7.9%	$304.3M+5.2%	$289.2M+40.7%	$205.6M+73.0%	$118.9M-1.6%	$120.8M+11.0%	$108.8M
Investing Cash Flow	-$125.4Mn/m	-$64.5Mn/m	-$146.8Mn/m	-$222.5Mn/m	-$1.0Bn/m	-$428.5Mn/m	-$84.2Mn/m	-$1.9Bn/m	-$183.5Mn/m	-$116.7Mn/m	-$601.5Mn/m	-$235.0M-8124.9%	$2.9Mn/m	-$14.0Mn/m	-$7.9M
Financing Cash Flow	-$296.6Mn/m	-$426.3Mn/m	-$337.7Mn/m	-$635.7Mn/m	-$47.8Mn/m	-$188.4Mn/m	-$392.9M-125.5%	$1.5Bn/m	-$231.0Mn/m	-$289.3M-200.9%	$286.7Mn/m	-$118.8Mn/m	-$99.5Mn/m	-$113.1Mn/m	-$107.8M
Dividends Paid	$108.8M+2.5%	$106.1M+3.9%	$102.1M+6.4%	$96.0M+1.1%	$94.9M+4.6%	$90.8M+2.8%	$88.3M+5.0%	$84.1M+7.9%	$78.0M+12.4%	$69.4M+10.2%	$63.0M+9.7%	$57.4M+17.0%	$49.0M+28.5%	$38.2M+18.1%	$32.3M
Share Buybacks	$115.1M+118.7%	$52.6M-23.0%	$68.4M+62.8%	$42.0M-74.6%	$165.1Mn/m	$0n/m	$0	N/A	N/A	N/A	N/A	$60.0M	N/A	N/A	$77.0M

Metric	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Operating Cash Flow	$244.2M-5.6%	$234.2M-9.1%	-$112.2M-463.9%	-$44.9M-246.0%	$258.7M-23.5%	$257.7M+2.4%	$30.8Mn/m	$30.7M-48.5%
Depreciation & Amortization	$69.5M-2.6%	$66.0M-0.3%	$64.9M-1.7%	$66.0M-2.4%	$71.4M-3.0%	$66.2M-2.9%	$66.0M-3.1%	$67.7M+0.6%
Stock-Based Compensation	N/A	$6.7M-18.1%	$7.9M-1.6%	$10.9M+3.9%	N/A	$8.2M-12.4%	$8.1M-12.7%	$10.5M+0.8%
Capital Expenditures	N/A	N/A	$33.0M+31.8%	$29.9M+22.9%	$37.1M+1.0%	$35.2M+33.5%	$25.0M-31.2%	$24.3M-39.4%
Free Cash Flow	N/A	N/A	-$145.2M-2588.1%	-$74.8M-1270.1%	$221.6M-26.5%	$222.5M-1.3%	$5.8Mn/m	$6.4M-67.2%
Investing Cash Flow	-$64.2M-2331.7%	-$30.0Mn/m	-$10.4Mn/m	-$20.8Mn/m	$2.9Mn/m	-$32.9Mn/m	-$9.1Mn/m	-$25.3Mn/m
Financing Cash Flow	-$67.5Mn/m	-$79.6Mn/m	-$136.0Mn/m	-$13.5Mn/m	-$182.2Mn/m	-$77.1Mn/m	-$102.4M-323.0%	-$64.6Mn/m
Dividends Paid	$26.9M+1.9%	$27.1M+1.8%	N/A	N/A	$26.4M+3.8%	$26.6M+3.9%	N/A	N/A
Share Buybacks	$34.3M-32.6%	$50.5Mn/m	$25.2M+1362.8%	$5.0Mn/m	$50.9M+100.9%	$0-100.0%	$1.7Mn/m	$0-100.0%

THO Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

THO quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	12.6%-1.4pp	14.0%-0.5pp	14.5%+0.1pp	14.3%-2.8pp	17.2%+1.8pp	15.4%+1.7pp	13.7%+1.3pp	12.4%-1.6pp	14.0%-0.4pp	14.4%-1.5pp	15.8%+1.9pp	13.9%+0.6pp	13.3%+0.2pp	13.1%+1.0pp	12.1%
Net Margin	1.8%-0.9pp	2.7%+0.1pp	2.6%-0.7pp	3.4%-3.6pp	7.0%+1.6pp	5.4%+2.6pp	2.7%+1.0pp	1.7%-3.5pp	5.2%0.0pp	5.2%-0.4pp	5.6%+0.6pp	5.0%-0.1pp	5.1%+0.4pp	4.7%+0.1pp	4.6%
Return on Equity	4.2%-1.9pp	6.0%-0.5pp	6.5%-2.9pp	9.4%-22.3pp	31.7%+9.1pp	22.6%+13.0pp	9.6%+3.2pp	6.4%-15.8pp	22.2%-1.5pp	23.7%+3.5pp	20.3%+1.5pp	18.7%+0.4pp	18.3%+1.2pp	17.1%+2.8pp	14.3%
Return on Assets	2.5%-1.1pp	3.7%-0.1pp	3.8%-1.4pp	5.1%-10.2pp	15.4%+5.4pp	9.9%+6.1pp	3.9%+1.5pp	2.4%-13.1pp	15.5%+0.8pp	14.6%+3.6pp	11.0%-2.2pp	13.3%+0.6pp	12.7%+1.2pp	11.5%+1.7pp	9.8%
Current Ratio	1.770.0x	1.75+0.1x	1.69+0.1x	1.63-0.1x	1.74+0.2x	1.56+0.2x	1.390.0x	1.41-0.3x	1.71+0.2x	1.510.0x	1.56-0.5x	2.05-0.2x	2.280.0x	2.30+0.1x	2.20
Debt-to-Equity	0.200.0x	0.21-0.1x	0.27-0.1x	0.32-0.2x	0.49-0.1x	0.55-0.2x	0.71-0.2x	0.90	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Liabilities-to-Equity	0.630.0x	0.65-0.1x	0.73-0.1x	0.83-0.2x	1.06-0.2x	1.28-0.2x	1.49-0.2x	1.72+1.3x	0.43-0.2x	0.62-0.2x	0.84+0.4x	0.410.0x	0.440.0x	0.490.0x	0.46
Asset Turnover	1.380.0x	1.36-0.1x	1.43-0.1x	1.53-0.7x	2.20+0.4x	1.85+0.4x	1.420.0x	1.39-1.6x	3.00+0.2x	2.83+0.9x	1.97-0.7x	2.67+0.2x	2.50+0.1x	2.44+0.3x	2.12
FCF Margin	N/A	4.8%+0.7pp	4.0%-2.9pp	7.0%+2.4pp	4.6%+1.4pp	3.2%-2.1pp	5.3%+0.5pp	4.8%+0.9pp	3.9%-0.3pp	4.2%-2.1pp	6.3%+1.2pp	5.1%+1.8pp	3.4%-0.4pp	3.7%-0.4pp	4.1%

Metric	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Gross Margin	12.4%-2.3pp	12.8%-2.6pp	11.8%-0.3pp	13.4%+0.3pp	14.7%-1.1pp	15.3%+0.3pp	12.2%-0.1pp	13.1%-1.2pp
Net Margin	1.8%-3.2pp	3.5%-1.2pp	0.8%+0.9pp	0.9%+1.0pp	5.0%+1.4pp	4.7%+0.6pp	0.0%-0.4pp	-0.1%-2.2pp
Return on Equity	1.0%-2.0pp	2.3%-1.0pp	0.4%+0.4pp	0.5%+0.5pp	2.9%+0.7pp	3.2%+0.3pp	0.0%-0.2pp	-0.1%-1.4pp
Return on Assets	0.6%-1.2pp	1.4%-0.5pp	0.3%+0.3pp	0.3%+0.3pp	1.8%+0.5pp	1.9%+0.3pp	0.0%-0.1pp	0.0%-0.8pp
Current Ratio	1.770.0x	1.710.0x	1.76+0.1x	1.81+0.1x	1.75+0.1x	1.71+0.1x	1.710.0x	1.71+0.1x
Debt-to-Equity	0.200.0x	0.200.0x	0.20-0.1x	0.210.0x	0.21-0.1x	0.24-0.1x	0.25-0.1x	0.26-0.1x
Liabilities-to-Equity	0.630.0x	0.660.0x	0.62-0.1x	0.63-0.1x	0.65-0.1x	0.70-0.1x	0.70-0.1x	0.70-0.1x
Asset Turnover	0.330.0x	0.390.0x	0.300.0x	0.340.0x	0.360.0x	0.400.0x	0.300.0x	0.310.0x
FCF Margin	N/A	N/A	-6.8%-7.1pp	-3.1%-3.4pp	8.8%-3.1pp	7.7%-0.4pp	0.3%+6.6pp	0.3%-0.5pp

Not reported in any period shown, so not listed: Operating Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Thor Industries, Inc. THO	FY2026	$9.6B	$177.5M	1.8%	$3.6B	48/100
Brunswick Corporation BC	FY2025	$5.4B	-$137.3M	-2.6%	$4.3B	34/100
Polaris Inc. PII	FY2025	$7.2B	-$465.5M	-6.5%	$3.1B	29/100
Harley-Davidson, Inc. HOG	FY2025	$4.5B	$338.7M	7.6%	$3.0B	60/100
LCI Industries LCII	FY2025	$4.1B	$188.3M	4.6%	$2.1B	55/100

Where Thor Industries, Inc. Ranks

Frequently Asked Questions

What is Thor Industries, Inc.'s annual revenue?

Thor Industries, Inc. (THO) reported $9.6B in total revenue for fiscal year 2026. This represents a 0.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Thor Industries, Inc.'s revenue growing?

Thor Industries, Inc. (THO) revenue grew by 0.3% year-over-year, from $9.6B to $9.6B in fiscal year 2026.

Is Thor Industries, Inc. profitable?

Yes, Thor Industries, Inc. (THO) reported a net income of $177.5M in fiscal year 2026, with a net profit margin of 1.8%.

How much debt does Thor Industries, Inc. have?

As of fiscal year 2026, Thor Industries, Inc. (THO) had $482.0M in cash and equivalents against $865.1M in long-term debt.

What is Thor Industries, Inc.'s gross margin?

Thor Industries, Inc. (THO) had a gross margin of 12.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Thor Industries, Inc.'s net profit margin?

Thor Industries, Inc. (THO) had a net profit margin of 1.8% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Does Thor Industries, Inc. pay dividends?

Yes, Thor Industries, Inc. (THO) paid $2.08 per share in dividends during fiscal year 2026.

What is Thor Industries, Inc.'s return on equity (ROE)?

Thor Industries, Inc. (THO) has a return on equity of 4.2% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Thor Industries, Inc.'s operating cash flow?

Thor Industries, Inc. (THO) generated $321.2M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Thor Industries, Inc.'s total assets?

Thor Industries, Inc. (THO) had $7.0B in total assets as of fiscal year 2026, including both current and long-term assets.

How much does Thor Industries, Inc. spend on research and development?

Thor Industries, Inc. (THO) invested $41.6M in research and development during fiscal year 2026.

Does Thor Industries, Inc. buy back shares?

Yes, Thor Industries, Inc. (THO) spent $115.1M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does Thor Industries, Inc. have outstanding?

Thor Industries, Inc. (THO) had 52M shares outstanding as of fiscal year 2026.

What is Thor Industries, Inc.'s current ratio?

Thor Industries, Inc. (THO) had a current ratio of 1.77 as of fiscal year 2026, which is generally considered healthy.

What is Thor Industries, Inc.'s debt-to-equity ratio?

Thor Industries, Inc. (THO) had a debt-to-equity ratio of 0.20 as of fiscal year 2026. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is Thor Industries, Inc.'s liabilities-to-equity ratio?

Thor Industries, Inc. (THO) had a liabilities-to-equity ratio of 0.63 as of fiscal year 2026, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

What is Thor Industries, Inc.'s return on assets (ROA)?

Thor Industries, Inc. (THO) had a return on assets of 2.5% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Thor Industries, Inc.'s P/E ratio?

Thor Industries, Inc. (THO) trades at 20.4x earnings, its market capitalization divided by $177.5M net income, FY2026. The market capitalization is $3.6B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Thor Industries, Inc.'s price-to-sales ratio?

Thor Industries, Inc. (THO) trades at 0.4x sales, its market capitalization divided by $9.6B revenue, FY2026. The market capitalization is $3.6B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Thor Industries, Inc.'s Piotroski F-Score?

Thor Industries, Inc. (THO) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Thor Industries, Inc.'s earnings high quality?

Thor Industries, Inc. (THO) has an earnings quality ratio of 1.81x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Thor Industries, Inc.?

Thor Industries, Inc. (THO) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.