THOR Industries (THO) Financials

$72.17 +7.34 (+11.32%)

Closing price 04/9/2025 03:59 PM Eastern

Extended Trading

$71.15 -1.02 (-1.41%)

As of 07:00 AM Eastern

Annual Income Statements for THOR Industries

This table shows THOR Industries' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	199	257	374	430	248	223	660	1,138	374	265
Consolidated Net Income / (Loss)	199	257	374	430	247	221	661	1,138	374	265
Net Income / (Loss) Continuing Operations	202	258	374	430	247	221	661	1,138	374	265
Total Pre-Tax Income	293	383	556	633	300	273	845	1,460	499	349
Total Operating Income	291	383	560	632	361	377	908	1,533	585	424
Total Gross Profit	558	726	1,044	1,165	973	1,118	1,895	2,806	1,596	1,452
Total Revenue	4,007	4,582	7,247	8,329	7,865	8,168	12,317	16,313	11,122	10,043
Operating Revenue	4,007	4,582	7,247	8,329	7,865	8,168	12,317	16,313	11,122	10,043
Total Cost of Revenue	3,449	3,856	6,203	7,164	6,892	7,050	10,422	13,506	9,525	8,591
Operating Cost of Revenue	3,449	3,856	6,203	7,164	6,892	7,050	10,422	13,506	9,525	8,591
Total Operating Expenses	267	343	484	533	612	741	987	1,273	1,011	1,028
Selling, General & Admin Expense	251	306	420	477	536	634	870	1,116	870	896
Amortization Expense	16	28	64	55	76	97	117	157	141	133
Total Other Income / (Expense), net	2.26	0.33	-3.43	0.93	-62	-104	-63	-73	-86	-75
Interest & Investment Income	1.29	0.74	0.92	2.15	8.08	3.12	-	-90	-97	-89
Other Income / (Expense), net	1.14	1.18	5.38	3.96	-1.85	0.31	30	17	11	14
Income Tax Expense	91	125	182	203	52	52	184	322	125	83
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	-0.81	-1.59	1.00	0.44	-0.03	0.09
Basic Earnings per Share	$3.75	$4.89	$7.12	$8.17	$2.47	$4.04	$11.93	$20.67	$7.00	$4.98
Weighted Average Basic Shares Outstanding	53.17M	52.46M	52.56M	52.67M	53.91M	55.17M	55.33M	55.03M	53.48M	53.25M
Diluted Earnings per Share	$3.74	$4.88	$7.09	$8.14	$2.47	$4.02	$11.85	$20.59	$6.95	$4.94
Weighted Average Diluted Shares Outstanding	53.17M	52.46M	52.76M	52.85M	54.03M	55.40M	55.69M	55.26M	53.86M	53.69M
Weighted Average Basic & Diluted Shares Outstanding	53.17M	52.46M	52.60M	52.70M	54M	55.20M	55.37M	53.68M	53.31M	52.93M
Cash Dividends to Common per Share	-	-	$1.32	$1.48	$1.56	$1.60	$1.64	$1.72	$1.80	$1.92

This table shows THOR Industries' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Income / (Loss) Attributable to Common Shareholders	281	136	27	121	90	54	7.22	115	90	-1.83	-0.55
Consolidated Net Income / (Loss)	282	137	26	120	91	55	5.33	114	91	-0.87	-3.09
Net Income / (Loss) Continuing Operations	282	137	26	120	91	55	5.33	114	91	-0.87	-3.09
Total Pre-Tax Income	338	179	33	155	132	73	6.89	142	127	-1.16	-1.60
Total Operating Income	357	210	39	187	149	108	18	163	135	11	9.73
Total Gross Profit	668	486	283	433	394	358	271	422	401	281	245
Total Revenue	3,822	3,108	2,347	2,929	2,738	2,501	2,207	2,801	2,534	2,143	2,018
Operating Revenue	3,822	3,108	2,347	2,929	2,738	2,501	2,207	2,801	2,534	2,143	2,018
Total Cost of Revenue	3,154	2,622	2,064	2,496	2,344	2,143	1,937	2,379	2,133	1,861	1,773
Operating Cost of Revenue	3,154	2,622	2,064	2,496	2,344	2,143	1,937	2,379	2,133	1,861	1,773
Total Operating Expenses	311	277	244	245	245	250	253	259	266	270	235
Selling, General & Admin Expense	271	242	209	210	210	218	220	227	231	240	206
Amortization Expense	40	35	35	35	35	32	32	32	35	30	29
Total Other Income / (Expense), net	-18	-30	-6.28	-32	-17	-35	-11	-21	-7.90	-13	-11
Interest & Investment Income	-	-	-	-	-	-20	-28	-	-	-15	-12
Other Income / (Expense), net	4.16	-7.56	19	-5.67	5.17	-15	17	1.16	11	2.65	0.62
Income Tax Expense	57	42	6.91	36	41	18	1.57	29	36	-0.28	1.49
Net Income / (Loss) Attributable to Noncontrolling Interest	0.84	1.24	-1.27	-0.99	1.00	1.47	-1.89	-0.93	1.45	0.96	-2.54
Basic Earnings per Share	$5.16	$2.54	$0.51	$2.26	$1.69	$1.01	$0.14	$2.15	$1.68	($0.03)	($0.01)
Weighted Average Basic Shares Outstanding	55.03M	53.66M	53.52M	53.43M	53.48M	53.30M	53.32M	53.31M	53.25M	52.97M	53.21M
Diluted Earnings per Share	$5.14	$2.53	$0.50	$2.24	$1.68	$0.99	$0.13	$2.13	$1.69	($0.03)	($0.01)
Weighted Average Diluted Shares Outstanding	55.26M	53.93M	53.81M	53.82M	53.86M	53.85M	53.65M	53.72M	53.69M	52.97M	53.21M
Weighted Average Basic & Diluted Shares Outstanding	53.68M	53.52M	53.52M	53.31M	53.31M	53.32M	53.32M	53.20M	52.93M	53.22M	53.20M
Cash Dividends to Common per Share	-	$0.45	$0.45	$0.45	-	$0.48	$0.48	$0.48	-	$0.50	$0.50

This table details how cash moves in and out of THOR Industries' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-106	26	13	52	176	90	-93	-137	130	60
Net Cash From Operating Activities	248	341	419	467	508	541	526	990	982	546
Net Cash From Continuing Operating Activities	248	341	419	467	508	541	526	990	982	546
Net Income / (Loss) Continuing Operations	199	257	374	430	132	221	661	1,138	374	265
Consolidated Net Income / (Loss)	199	257	374	430	132	221	661	1,138	374	265
Depreciation Expense	15	25	34	38	73	99	113	128	136	145
Amortization Expense	16	28	65	57	82	108	133	168	152	151
Non-Cash Adjustments To Reconcile Net Income	6.55	18	10	16	90	34	32	24	36	28
Changes in Operating Assets and Liabilities, net	11	14	-65	-74	130	79	-412	-468	283	-44
Net Cash From Investing Activities	-235	-601	-117	-183	-1,866	-84	-428	-1,049	-222	-147
Net Cash From Continuing Investing Activities	-235	-601	-117	-183	-1,866	-84	-428	-1,049	-222	-147
Purchase of Property, Plant & Equipment	-42	-52	-115	-138	-130	-107	-129	-242	-208	-140
Acquisitions	-194	-558	-5.04	-50	-1,736	0.00	-311	-782	-6.18	-7.31
Sale of Property, Plant & Equipment	1.78	8.71	4.68	3.84	2.73	28	1.95	16	14	25
Other Investing Activities, net	0.02	-0.56	-1.27	1.27	-2.16	-5.23	9.33	-41	-22	-25
Net Cash From Financing Activities	-119	287	-289	-231	1,539	-393	-188	-48	-636	-338
Net Cash From Continuing Financing Activities	-119	287	-289	-231	1,539	-393	-188	-48	-636	-338
Repayment of Debt	-0.08	-8.18	-215	-145	-568	-680	-314	-269	-489	-337
Repurchase of Common Equity	-60	-	-	-	-	0.00	0.00	-165	-42	-68
Payment of Dividends	-57	-63	-69	-78	-84	-88	-91	-95	-96	-102
Issuance of Debt	-	360	0.00	0.00	2,196	379	226	500	0.00	187
Other Financing Activities, net	-1.43	-2.16	-4.57	-7.66	-4.82	-4.21	-9.07	-19	-8.53	-17
Effect of Exchange Rate Changes	-	-	-	0.00	-	-	-2.21	-30	-	-0.98
Cash Interest Paid	0.18	0.67	8.56	3.90	57	102	79	74	95	86
Cash Income Taxes Paid	115	128	199	219	88	57	227	381	143	147

This table details how cash moves in and out of THOR Industries' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Change in Cash & Equivalents	-20	-20	-10	72	88	-15	-86	32	129	-56	-71
Net Cash From Operating Activities	353	94	91	289	508	60	-104	252	338	31	31
Net Cash From Continuing Operating Activities	353	94	91	289	508	60	-104	252	338	31	31
Net Income / (Loss) Continuing Operations	282	137	26	120	91	55	5.33	114	91	-0.87	-3.09
Consolidated Net Income / (Loss)	282	137	26	120	91	55	5.33	114	91	-0.87	-3.09
Depreciation Expense	32	32	32	33	39	35	36	36	38	38	37
Amortization Expense	43	38	38	38	38	35	41	35	39	32	31
Non-Cash Adjustments To Reconcile Net Income	0.29	8.25	8.31	9.67	9.96	11	1.39	7.23	9.18	8.27	7.93
Changes in Operating Assets and Liabilities, net	-4.33	-121	-13	88	329	-76	-188	60	160	-46	-41
Net Cash From Investing Activities	-77	-58	-56	-58	-51	-51	-30	-22	-44	-25	-9.12
Net Cash From Continuing Investing Activities	-77	-58	-56	-58	-51	-51	-30	-22	-44	-25	-9.12
Purchase of Property, Plant & Equipment	-72	-56	-45	-49	-58	-38	-41	-27	-34	-25	-26
Sale of Property, Plant & Equipment	15	2.94	0.90	0.35	9.48	0.28	13	12	0.25	3.36	18
Other Investing Activities, net	-21	-5.00	-5.41	-8.68	-2.67	-9.13	-1.97	-6.59	-7.10	-3.43	-0.70
Net Cash From Financing Activities	-298	-53	-48	-164	-370	-19	46	-200	-164	-65	-102
Net Cash From Continuing Financing Activities	-298	-53	-48	-164	-370	-19	46	-200	-164	-65	-102
Repayment of Debt	452	-28	6.73	-124	-345	-42	-133	-161	0.11	-64	-33
Repurchase of Common Equity	-67	-25	-	-17	-	-30	-	-13	-25	0.00	-1.73
Other Financing Activities, net	-0.28	-0.31	-7.06	-0.30	-0.86	-0.18	-16	-0.19	-0.20	-0.20	-15
Cash Interest Paid	15	26	19	31	20	26	15	29	16	22	9.82
Cash Income Taxes Paid	111	17	93	7.94	24	7.15	83	21	36	9.23	45

This table presents THOR Industries' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	1,503	2,325	2,558	2,779	5,660	5,771	6,654	7,408	7,261	7,021
Total Current Assets	776	1,017	1,180	1,312	2,037	2,102	2,804	3,062	2,794	2,650
Cash & Equivalents	183	210	223	275	426	539	446	312	441	501
Accounts Receivable	270	393	485	487	716	814	950	944	643	701
Inventories, net	246	404	460	538	828	716	1,369	1,755	1,653	1,367
Prepaid Expenses	8.32	11	12	11	42	30	36	52	56	81
Plant, Property, & Equipment, net	234	344	425	522	1,092	1,108	0.00	0.00	0.00	1,391
Total Noncurrent Assets	493	964	953	945	2,531	2,562	3,851	4,346	4,467	2,980
Long-Term Investments	-	-	-	48	46	-	-	11	127	137
Goodwill	313	378	378	378	1,358	1,477	1,563	1,804	1,800	1,787
Intangible Assets	169	507	443	388	971	915	937	1,117	997	861
Noncurrent Deferred & Refundable Income Taxes	-	53	93	78	73	79	41	7.95	5.77	28
Other Noncurrent Operating Assets	12	26	38	52	82	92	1,309	1,405	1,537	166
Total Liabilities & Shareholders' Equity	1,503	2,325	2,558	2,779	5,660	5,771	6,654	7,408	7,261	7,021
Total Liabilities	438	1,060	981	841	3,565	3,426	3,706	3,807	3,277	2,947
Total Current Liabilities	378	652	781	769	1,448	1,515	1,795	1,756	1,716	1,567
Short-Term Debt	-	-	-	0.00	61	50	38	35	61	105
Accounts Payable	163	264	329	287	552	637	915	822	736	628
Accrued Expenses	128	242	263	324	385	350	396	452	509	482
Current Deferred & Payable Income Tax Liabilities	11	26	51	19	61	84	86	57	101	75
Current Employee Benefit Liabilities	52	81	100	97	136	160	250	255	189	185
Other Current Liabilities	25	39	38	42	253	235	110	135	121	92
Total Noncurrent Liabilities	60	409	200	72	2,117	1,911	1,911	2,052	1,561	1,380
Long-Term Debt	-	360	145	0.00	1,885	1,653	1,595	1,754	1,291	1,101
Noncurrent Deferred & Payable Income Tax Liabilities	33	9.98	10	12	147	137	129	133	91	87
Other Noncurrent Operating Liabilities	27	39	45	59	85	121	187	164	179	192
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,065	1,265	1,577	1,938	2,095	2,346	2,948	3,601	3,983	4,074
Total Preferred & Common Equity	1,065	1,265	1,577	1,938	2,084	2,320	2,922	3,593	3,976	4,067
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,065	1,265	1,577	1,938	2,084	2,320	2,922	3,593	3,976	4,067
Common Stock	222	231	242	258	423	443	467	505	546	584
Retained Earnings	1,172	1,366	1,671	2,023	2,067	2,201	2,770	3,813	4,092	4,255
Treasury Stock	-329	-331	-336	-344	-348	-352	-360	-543	-593	-677
Accumulated Other Comprehensive Income / (Loss)	-	-	-	0.00	-57	27	45	-182	-69	-94
Noncontrolling Interest	-	-	-	0.00	11	26	26	7.79	7.38	6.62

This table presents THOR Industries' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Total Assets	7,736	7,281	7,312	7,554	7,172	7,226	7,218	6,873	6,714
Total Current Assets	3,359	2,994	2,863	3,085	2,806	2,839	2,870	2,533	2,524
Cash & Equivalents	329	292	282	353	426	340	372	445	374
Accounts Receivable	1,247	809	651	812	617	626	830	638	653
Inventories, net	1,734	1,853	1,865	1,865	1,714	1,776	1,578	1,372	1,379
Prepaid Expenses	46	40	66	55	49	97	90	78	118
Plant, Property, & Equipment, net	1,234	1,269	1,325	1,360	1,378	1,382	1,380	1,380	1,320
Total Noncurrent Assets	3,143	3,019	3,124	3,109	2,989	3,004	2,968	2,960	2,870
Long-Term Investments	-	-	124	128	130	129	132	138	136
Goodwill	1,835	1,784	1,784	1,797	1,769	1,788	1,777	1,792	1,749
Intangible Assets	1,171	1,071	1,061	1,031	950	926	889	833	790
Noncurrent Deferred & Refundable Income Taxes	1.16	7.67	8.38	8.02	2.59	9.46	12	26	21
Other Noncurrent Operating Assets	136	156	147	145	137	153	157	171	175
Total Liabilities & Shareholders' Equity	7,736	7,281	7,312	7,554	7,172	7,226	7,218	6,873	6,714
Total Liabilities	4,294	3,630	3,524	3,656	3,249	3,283	3,210	2,811	2,761
Total Current Liabilities	1,972	1,622	1,466	1,721	1,717	1,626	1,739	1,482	1,474
Short-Term Debt	29	34	48	51	70	86	103	102	90
Accounts Payable	1,029	676	639	794	749	762	802	572	699
Accrued Expenses	433	453	454	498	469	453	473	457	423
Current Deferred & Payable Income Tax Liabilities	67	84	42	62	100	70	87	79	46
Current Employee Benefit Liabilities	281	236	157	196	204	148	191	173	136
Other Current Liabilities	132	116	126	120	100	109	83	73	80
Total Noncurrent Liabilities	2,323	2,008	2,057	1,935	1,532	1,657	1,471	1,330	1,286
Long-Term Debt	1,984	1,715	1,759	1,641	1,272	1,390	1,209	1,044	1,003
Noncurrent Deferred & Payable Income Tax Liabilities	167	133	126	122	92	84	77	84	79
Other Noncurrent Operating Liabilities	172	161	173	172	168	182	185	202	204
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,441	3,651	3,788	3,898	3,924	3,943	4,008	4,062	3,953
Total Preferred & Common Equity	3,434	3,642	3,781	3,892	3,915	3,936	4,003	4,054	3,952
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,434	3,642	3,781	3,892	3,915	3,936	4,003	4,054	3,952
Common Stock	497	516	524	534	558	567	576	596	604
Retained Earnings	3,556	3,925	3,928	4,025	4,120	4,101	4,190	4,226	4,199
Treasury Stock	-477	-576	-576	-592	-634	-639	-652	-686	-693
Accumulated Other Comprehensive Income / (Loss)	-143	-224	-96	-75	-128	-93	-111	-82	-158
Noncontrolling Interest	7.29	8.60	7.35	6.38	8.13	6.18	5.12	7.62	1.72

This table displays calculated financial ratios and metrics derived from THOR Industries' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.65%	14.36%	58.16%	14.93%	-5.57%	3.85%	50.80%	32.44%	-31.82%	-9.69%
EBITDA Growth	16.63%	35.18%	52.22%	9.90%	-29.60%	13.50%	102.76%	55.87%	-52.04%	-17.20%
EBIT Growth	16.13%	31.66%	47.12%	12.54%	-43.47%	4.88%	148.77%	65.22%	-61.50%	-26.69%
NOPAT Growth	16.40%	28.61%	46.07%	14.07%	-30.52%	2.43%	132.40%	68.21%	-63.28%	-26.51%
Net Income Growth	11.39%	28.66%	45.90%	14.94%	-42.50%	-10.49%	198.52%	72.23%	-67.12%	-29.08%
EPS Growth	11.64%	30.48%	45.29%	14.81%	-69.66%	62.75%	194.78%	73.76%	-66.25%	-28.92%
Operating Cash Flow Growth	66.06%	37.66%	22.90%	11.25%	8.90%	6.48%	-2.67%	88.06%	-0.86%	-44.42%
Free Cash Flow Firm Growth	-81.53%	-3,981.93%	206.45%	6.87%	-620.13%	121.04%	-75.29%	206.71%	183.84%	-39.28%
Invested Capital Growth	28.09%	60.52%	5.86%	7.73%	119.61%	-1.06%	17.84%	22.62%	-5.92%	-2.64%
Revenue Q/Q Growth	0.37%	5.39%	9.72%	-0.72%	5.89%	0.16%	11.48%	1.42%	-8.88%	-1.99%
EBITDA Q/Q Growth	2.60%	8.75%	9.96%	-6.82%	44.43%	-11.99%	15.26%	2.88%	-18.75%	-1.23%
EBIT Q/Q Growth	2.10%	7.53%	10.45%	-7.73%	55.53%	-17.47%	18.66%	2.67%	-25.70%	-2.04%
NOPAT Q/Q Growth	1.85%	5.76%	10.92%	-6.94%	95.31%	-24.37%	17.65%	4.81%	-30.84%	-1.88%
Net Income Q/Q Growth	1.21%	5.69%	10.87%	-6.77%	92.96%	-28.36%	20.32%	4.64%	-33.73%	0.07%
EPS Q/Q Growth	1.36%	6.09%	10.61%	-6.76%	2.07%	11.98%	20.06%	5.16%	-33.24%	0.20%
Operating Cash Flow Q/Q Growth	-9.61%	13.22%	10.60%	7.57%	14.13%	-5.01%	9.97%	0.12%	18.74%	-23.70%
Free Cash Flow Firm Q/Q Growth	-94.49%	-364.62%	201.53%	9.34%	11.49%	-48.75%	161.03%	6.67%	14.10%	-27.79%
Invested Capital Q/Q Growth	8.94%	49.15%	-5.02%	-7.88%	-5.45%	0.68%	-2.21%	-1.07%	-6.69%	-3.64%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	13.91%	15.85%	14.40%	13.98%	12.37%	13.69%	15.38%	17.20%	14.35%	14.46%
EBITDA Margin	8.07%	9.53%	9.18%	8.78%	6.54%	7.15%	9.61%	11.31%	7.96%	7.30%
Operating Margin	7.25%	8.36%	7.72%	7.59%	4.60%	4.61%	7.37%	9.40%	5.26%	4.22%
EBIT Margin	7.28%	8.38%	7.80%	7.64%	4.57%	4.62%	7.62%	9.50%	5.37%	4.36%
Profit (Net Income) Margin	4.98%	5.60%	5.16%	5.16%	3.14%	2.71%	5.37%	6.98%	3.37%	2.64%
Tax Burden Percent	68.07%	66.92%	67.27%	67.95%	82.57%	81.12%	78.25%	77.97%	74.95%	76.08%
Interest Burden Percent	100.38%	99.78%	98.44%	99.52%	83.30%	72.37%	90.03%	94.19%	83.67%	79.73%
Effective Tax Rate	31.03%	32.69%	32.73%	32.05%	17.43%	18.88%	21.75%	22.03%	25.06%	23.92%
Return on Invested Capital (ROIC)	25.53%	22.45%	25.85%	27.60%	11.57%	8.67%	18.60%	25.98%	8.92%	6.86%
ROIC Less NNEP Spread (ROIC-NNEP)	25.99%	30.11%	19.43%	27.29%	2.49%	2.21%	14.38%	21.70%	3.19%	-1.59%
Return on Net Nonoperating Assets (RNNOA)	-6.01%	-0.43%	0.49%	-3.12%	0.70%	1.30%	6.37%	8.78%	0.95%	-0.27%
Return on Equity (ROE)	19.52%	22.01%	26.34%	24.48%	12.27%	9.97%	24.97%	34.76%	9.87%	6.59%
Cash Return on Invested Capital (CROIC)	0.91%	-24.01%	20.15%	20.16%	-63.28%	9.74%	2.22%	5.66%	15.02%	9.53%
Operating Return on Assets (OROA)	20.04%	20.07%	23.15%	23.84%	8.52%	6.60%	15.10%	22.04%	8.14%	6.13%
Return on Assets (ROA)	13.69%	13.40%	15.33%	16.12%	5.86%	3.87%	10.64%	16.19%	5.10%	3.72%
Return on Common Equity (ROCE)	19.52%	22.01%	26.34%	24.48%	12.23%	9.89%	24.72%	34.58%	9.85%	6.58%
Return on Equity Simple (ROE_SIMPLE)	18.72%	20.27%	23.74%	22.20%	11.87%	9.54%	22.62%	31.68%	9.41%	6.53%
Net Operating Profit after Tax (NOPAT)	200	258	377	430	298	306	710	1,195	439	322
NOPAT Margin	5.00%	5.63%	5.20%	5.16%	3.79%	3.74%	5.77%	7.33%	3.95%	3.21%
Net Nonoperating Expense Percent (NNEP)	-0.45%	-7.67%	6.41%	0.31%	9.08%	6.46%	4.22%	4.28%	5.74%	8.45%
Cost of Revenue to Revenue	86.09%	84.15%	85.60%	86.02%	87.63%	86.31%	84.62%	82.80%	85.65%	85.54%
SG&A Expenses to Revenue	6.26%	6.68%	5.79%	5.73%	6.82%	7.76%	7.06%	6.84%	7.82%	8.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	6.66%	7.49%	6.68%	6.39%	7.78%	9.08%	8.01%	7.81%	9.09%	10.24%
Earnings before Interest and Taxes (EBIT)	292	384	565	636	360	377	938	1,550	597	438
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	323	437	665	731	515	584	1,184	1,846	885	733
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.31	2.72	3.06	2.27	1.42	2.51	2.11	1.23	1.52	1.39
Price to Tangible Book Value (P/TBV)	4.22	9.07	6.38	3.76	0.00	0.00	14.64	6.58	5.13	3.98
Price to Revenue (P/Rev)	0.61	0.75	0.66	0.53	0.38	0.71	0.50	0.27	0.54	0.56
Price to Earnings (P/E)	12.35	13.44	12.87	10.23	11.96	26.16	9.35	3.88	16.14	21.28
Dividend Yield	2.30%	1.83%	1.44%	1.77%	2.90%	1.51%	1.47%	2.12%	1.59%	1.81%
Earnings Yield	8.10%	7.44%	7.77%	9.77%	8.36%	3.82%	10.69%	25.78%	6.20%	4.70%
Enterprise Value to Invested Capital (EV/IC)	2.58	2.54	3.16	2.53	1.25	2.00	1.79	1.16	1.43	1.34
Enterprise Value to Revenue (EV/Rev)	0.57	0.78	0.65	0.49	0.56	0.86	0.60	0.36	0.61	0.62
Enterprise Value to EBITDA (EV/EBITDA)	7.05	8.23	7.13	5.58	8.60	12.02	6.23	3.19	7.72	8.49
Enterprise Value to EBIT (EV/EBIT)	7.81	9.36	8.39	6.41	12.31	18.62	7.87	3.80	11.45	14.22
Enterprise Value to NOPAT (EV/NOPAT)	11.36	13.95	12.59	9.49	14.84	22.97	10.39	4.93	15.57	19.29
Enterprise Value to Operating Cash Flow (EV/OCF)	9.19	10.54	11.30	8.74	8.71	12.98	14.02	5.95	6.96	11.40
Enterprise Value to Free Cash Flow (EV/FCFF)	320.63	0.00	16.15	13.00	0.00	20.45	87.00	22.63	9.25	13.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.28	0.09	0.00	0.93	0.73	0.55	0.50	0.34	0.30
Long-Term Debt to Equity	0.00	0.28	0.09	0.00	0.90	0.70	0.54	0.49	0.32	0.27
Financial Leverage	-0.23	-0.01	0.03	-0.11	0.28	0.59	0.44	0.40	0.30	0.17
Leverage Ratio	1.43	1.64	1.72	1.52	2.09	2.57	2.35	2.15	1.93	1.77
Compound Leverage Factor	1.43	1.64	1.69	1.51	1.74	1.86	2.11	2.02	1.62	1.41
Debt to Total Capital	0.00%	22.15%	8.42%	0.00%	48.16%	42.06%	35.65%	33.19%	25.34%	22.84%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	1.52%	1.23%	0.83%	0.64%	1.14%	1.98%
Long-Term Debt to Total Capital	0.00%	22.15%	8.42%	0.00%	46.64%	40.83%	34.81%	32.55%	24.20%	20.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.27%	0.64%	0.57%	0.14%	0.14%	0.13%
Common Equity to Total Capital	100.00%	77.85%	91.58%	100.00%	51.57%	57.30%	63.78%	66.66%	74.52%	77.03%
Debt to EBITDA	0.00	0.82	0.22	0.00	3.78	2.92	1.38	0.97	1.53	1.65
Net Debt to EBITDA	0.00	0.34	-0.12	0.00	2.82	1.99	1.00	0.79	0.89	0.77
Long-Term Debt to EBITDA	0.00	0.82	0.22	0.00	3.66	2.83	1.35	0.95	1.46	1.50
Debt to NOPAT	0.00	1.40	0.39	0.00	6.52	5.57	2.30	1.50	3.08	3.74
Net Debt to NOPAT	0.00	0.58	-0.21	0.00	4.86	3.80	1.67	1.23	1.79	1.76
Long-Term Debt to NOPAT	0.00	1.40	0.39	0.00	6.32	5.41	2.25	1.47	2.94	3.41
Altman Z-Score	8.09	5.48	7.61	8.15	2.73	3.31	4.08	4.52	3.88	3.82
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.27%	0.82%	0.98%	0.52%	0.20%	0.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.05	1.56	1.51	1.71	1.41	1.39	1.56	1.74	1.63	1.69
Quick Ratio	1.22	0.92	0.91	0.99	0.79	0.89	0.78	0.72	0.63	0.77
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7.11	-276	294	314	-1,632	343	85	260	739	448
Operating Cash Flow to CapEx	611.97%	788.70%	380.02%	347.20%	398.47%	684.56%	414.93%	437.54%	504.59%	475.60%
Free Cash Flow to Firm to Interest Expense	39.47	-173.25	30.17	60.49	-23.96	3.20	0.91	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	1,377.00	214.33	43.10	89.94	7.46	5.04	5.63	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	1,151.99	187.15	31.76	64.03	5.59	4.30	4.27	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.75	2.39	2.97	3.12	1.86	1.43	1.98	2.32	1.52	1.41
Accounts Receivable Turnover	14.58	13.84	16.52	17.14	13.07	10.67	13.96	17.22	14.01	14.94
Inventory Turnover	14.92	11.86	14.35	14.35	10.09	9.13	9.99	8.65	5.59	5.69
Fixed Asset Turnover	19.84	15.85	18.84	17.58	9.74	7.43	0.00	0.00	0.00	0.00
Accounts Payable Turnover	21.08	18.09	20.94	23.28	16.43	11.86	13.43	15.55	12.22	12.59
Days Sales Outstanding (DSO)	25.03	26.38	22.10	21.30	27.93	34.20	26.14	21.19	26.05	24.42
Days Inventory Outstanding (DIO)	24.47	30.76	25.43	25.43	36.17	39.98	36.52	42.21	65.29	64.14
Days Payable Outstanding (DPO)	17.31	20.18	17.43	15.68	22.21	30.76	27.17	23.48	29.86	28.98
Cash Conversion Cycle (CCC)	32.18	36.96	30.10	31.05	41.88	43.41	35.49	39.93	61.48	59.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	882	1,415	1,498	1,614	3,545	3,507	4,132	5,067	4,767	4,641
Invested Capital Turnover	5.10	3.99	4.97	5.35	3.05	2.32	3.22	3.55	2.26	2.13
Increase / (Decrease) in Invested Capital	193	534	83	116	1,930	-38	626	935	-300	-126
Enterprise Value (EV)	2,278	3,597	4,740	4,078	4,427	7,021	7,381	5,888	6,832	6,220
Market Capitalization	2,462	3,446	4,818	4,401	2,967	5,834	6,170	4,414	6,041	5,646
Book Value per Share	$20.33	$24.11	$29.98	$36.77	$37.85	$42.03	$52.77	$65.89	$74.59	$76.46
Tangible Book Value per Share	$11.14	$7.24	$14.36	$22.24	($4.44)	($1.30)	$7.61	$12.31	$22.11	$26.68
Total Capital	1,065	1,625	1,722	1,938	4,042	4,048	4,581	5,389	5,336	5,280
Total Debt	0.00	360	145	0.00	1,947	1,703	1,633	1,789	1,352	1,206
Total Long-Term Debt	0.00	360	145	0.00	1,885	1,653	1,595	1,754	1,291	1,101
Net Debt	-183	150	-78	-324	1,449	1,161	1,184	1,466	784	567
Capital Expenditures (CapEx)	41	43	110	134	127	79	127	226	195	115
Debt-free, Cash-free Net Working Capital (DFCFNWC)	214	155	176	267	199	95	598	1,030	697	686
Debt-free Net Working Capital (DFNWC)	398	365	399	542	650	637	1,047	1,341	1,138	1,188
Net Working Capital (NWC)	398	365	399	542	589	587	1,009	1,307	1,077	1,083
Net Nonoperating Expense (NNE)	1.07	1.28	2.30	-0.63	51	84	50	57	65	57
Net Nonoperating Obligations (NNO)	-183	150	-78	-324	1,449	1,161	1,184	1,466	784	567
Total Depreciation and Amortization (D&A)	31	53	100	95	155	207	246	296	288	295
Debt-free, Cash-free Net Working Capital to Revenue	5.34%	3.39%	2.43%	3.21%	2.53%	1.17%	4.86%	6.31%	6.26%	6.83%
Debt-free Net Working Capital to Revenue	9.92%	7.97%	5.51%	6.51%	8.27%	7.80%	8.50%	8.22%	10.23%	11.83%
Net Working Capital to Revenue	9.92%	7.97%	5.51%	6.51%	7.49%	7.19%	8.19%	8.01%	9.68%	10.78%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.75	$4.89	$7.12	$8.17	$2.47	$4.04	$11.93	$20.67	$7.00	$4.98
Adjusted Weighted Average Basic Shares Outstanding	52.39M	52.48M	52.59M	52.70M	53.91M	55.17M	55.33M	55.03M	53.48M	53.25M
Adjusted Diluted Earnings per Share	$3.74	$4.88	$7.09	$8.14	$2.47	$4.02	$11.85	$20.59	$6.95	$4.94
Adjusted Weighted Average Diluted Shares Outstanding	52.39M	52.48M	52.59M	52.70M	54.03M	55.40M	55.69M	55.26M	53.86M	53.69M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$8.17	$2.47	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	52.39M	52.48M	52.59M	52.70M	55.06M	55.20M	55.37M	53.68M	53.31M	52.93M
Normalized Net Operating Profit after Tax (NOPAT)	200	264	377	430	298	314	710	1,195	439	322
Normalized NOPAT Margin	5.00%	5.76%	5.20%	5.16%	3.79%	3.84%	5.77%	7.33%	3.95%	3.21%
Pre Tax Income Margin	7.31%	8.37%	7.68%	7.60%	3.81%	3.34%	6.86%	8.95%	4.49%	3.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1,621.02	241.31	58.09	122.63	5.28	3.51	10.03	0.00	0.00	0.00
NOPAT to Interest Expense	1,113.63	161.93	38.70	82.81	4.38	2.85	7.59	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	1,396.01	214.13	46.75	96.72	3.41	2.78	8.67	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	888.62	134.76	27.36	56.90	2.51	2.11	6.24	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.78%	24.55%	18.55%	18.13%	34.02%	39.89%	13.74%	8.34%	25.64%	38.48%
Augmented Payout Ratio	58.87%	24.55%	18.55%	18.13%	34.02%	39.89%	13.74%	22.85%	36.87%	64.25%

This table displays calculated financial ratios and metrics derived from THOR Industries' official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.37%	-21.48%	-39.44%	-37.12%	-28.36%	-19.54%	-5.93%	-4.36%	-7.45%	-14.31%	-8.57%
EBITDA Growth	13.45%	-32.18%	-71.34%	-54.79%	-46.86%	-40.08%	-12.93%	-6.91%	-3.95%	-48.51%	-30.77%
EBIT Growth	12.59%	-39.42%	-84.26%	-62.49%	-57.18%	-54.09%	-39.81%	-9.70%	-5.91%	-84.83%	-70.53%
NOPAT Growth	22.69%	-37.07%	-89.00%	-60.22%	-65.21%	-49.19%	-54.14%	-9.92%	-6.02%	-90.21%	-51.71%
Net Income Growth	21.82%	-43.86%	-90.29%	-65.40%	-67.61%	-59.95%	-79.36%	-5.14%	0.20%	-101.59%	-158.00%
EPS Growth	24.46%	-41.71%	-89.56%	-64.56%	-67.32%	-60.87%	-74.00%	-4.91%	0.60%	-103.03%	-107.69%
Operating Cash Flow Growth	0.33%	124.96%	-64.37%	-14.93%	43.95%	-36.53%	-213.76%	-12.83%	-33.40%	-48.48%	129.69%
Free Cash Flow Firm Growth	-66.32%	108.07%	95.24%	129.50%	163.22%	456.22%	1,030.78%	168.56%	-44.66%	-80.87%	66.41%
Invested Capital Growth	22.62%	1.48%	1.13%	-0.25%	-5.92%	-7.73%	-4.59%	-5.72%	-2.64%	-1.76%	-8.34%
Revenue Q/Q Growth	-17.94%	-18.67%	-24.50%	24.81%	-6.51%	-8.67%	-11.73%	26.90%	-9.53%	-15.44%	-5.82%
EBITDA Q/Q Growth	-22.08%	-37.60%	-52.60%	96.16%	-8.42%	-29.63%	-31.11%	109.71%	-5.51%	-62.28%	-7.38%
EBIT Q/Q Growth	-25.53%	-44.01%	-71.12%	211.59%	-14.99%	-39.97%	-62.14%	367.44%	-11.42%	-90.32%	-26.45%
NOPAT Q/Q Growth	-18.14%	-45.92%	-80.86%	369.51%	-28.41%	-21.01%	-82.73%	822.13%	-25.31%	-91.77%	-14.81%
Net Income Q/Q Growth	-18.56%	-51.23%	-81.22%	363.96%	-23.76%	-39.71%	-90.32%	2,032.50%	-19.47%	-100.95%	-253.84%
EPS Q/Q Growth	-18.67%	-50.78%	-80.24%	348.00%	-25.00%	-41.07%	-86.87%	1,538.46%	-20.66%	-101.78%	66.67%
Operating Cash Flow Q/Q Growth	3.85%	-73.33%	-2.88%	216.30%	75.73%	-88.24%	-274.08%	342.36%	34.28%	-90.91%	0.33%
Free Cash Flow Firm Q/Q Growth	-19.58%	113.49%	-131.53%	680.22%	156.30%	18.64%	-47.25%	67.41%	-47.19%	-58.99%	358.94%
Invested Capital Q/Q Growth	-1.07%	1.27%	1.11%	-1.53%	-6.69%	-0.68%	4.55%	-2.69%	-3.64%	0.21%	-2.46%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	17.48%	15.65%	12.06%	14.77%	14.40%	14.31%	12.27%	15.06%	15.84%	13.13%	12.15%
EBITDA Margin	11.40%	8.75%	5.49%	8.63%	8.46%	6.52%	5.08%	8.40%	8.78%	3.92%	3.85%
Operating Margin	9.34%	6.74%	1.66%	6.40%	5.46%	4.31%	0.83%	5.82%	5.32%	0.53%	0.48%
EBIT Margin	9.44%	6.50%	2.49%	6.21%	5.64%	3.71%	1.59%	5.86%	5.74%	0.66%	0.51%
Profit (Net Income) Margin	7.37%	4.42%	1.10%	4.09%	3.33%	2.20%	0.24%	4.05%	3.61%	-0.04%	-0.15%
Tax Burden Percent	83.28%	76.66%	78.87%	77.02%	69.20%	75.82%	77.26%	79.79%	72.01%	75.52%	193.06%
Interest Burden Percent	93.75%	88.71%	56.07%	85.50%	85.35%	78.23%	19.63%	86.70%	87.34%	-8.21%	-15.46%
Effective Tax Rate	16.72%	23.34%	21.13%	22.98%	30.80%	24.18%	22.74%	20.21%	27.99%	0.00%	0.00%
Return on Invested Capital (ROIC)	27.57%	15.69%	3.54%	11.76%	8.54%	6.96%	1.31%	9.59%	8.18%	0.77%	0.68%
ROIC Less NNEP Spread (ROIC-NNEP)	26.41%	14.33%	3.24%	10.06%	7.46%	4.64%	0.58%	7.95%	7.34%	-0.50%	-0.57%
Return on Net Nonoperating Assets (RNNOA)	10.69%	7.19%	1.51%	3.96%	2.22%	1.40%	0.18%	2.03%	1.23%	-0.09%	-0.11%
Return on Equity (ROE)	38.26%	22.89%	5.05%	15.73%	10.75%	8.36%	1.49%	11.62%	9.42%	0.68%	0.56%
Cash Return on Invested Capital (CROIC)	5.66%	20.14%	15.39%	12.65%	15.02%	15.33%	11.45%	12.51%	9.53%	7.09%	13.78%
Operating Return on Assets (OROA)	21.91%	13.36%	4.63%	9.91%	8.56%	5.40%	2.27%	8.13%	8.07%	0.91%	0.70%
Return on Assets (ROA)	17.11%	9.09%	2.05%	6.53%	5.06%	3.20%	0.34%	5.63%	5.08%	-0.06%	-0.21%
Return on Common Equity (ROCE)	38.06%	22.76%	5.02%	15.70%	10.73%	8.34%	1.49%	11.60%	9.40%	0.68%	0.56%
Return on Equity Simple (ROE_SIMPLE)	0.00%	28.30%	20.92%	14.51%	0.00%	7.45%	6.89%	6.63%	0.00%	5.17%	5.09%
Net Operating Profit after Tax (NOPAT)	297	161	31	144	103	82	14	130	97	8.00	6.81
NOPAT Margin	7.77%	5.17%	1.31%	4.93%	3.78%	3.27%	0.64%	4.64%	3.83%	0.37%	0.34%
Net Nonoperating Expense Percent (NNEP)	1.16%	1.37%	0.30%	1.71%	1.07%	2.32%	0.73%	1.63%	0.84%	1.27%	1.24%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	0.26%	-	-	-	0.14%
Cost of Revenue to Revenue	82.52%	84.35%	87.94%	85.23%	85.60%	85.69%	87.73%	84.94%	84.16%	86.87%	87.85%
SG&A Expenses to Revenue	7.10%	7.77%	8.90%	7.17%	7.66%	8.71%	9.97%	8.09%	9.12%	11.21%	10.22%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.14%	8.91%	10.40%	8.37%	8.95%	10.01%	11.44%	9.24%	10.51%	12.60%	11.67%
Earnings before Interest and Taxes (EBIT)	361	202	58	182	155	93	35	164	145	14	10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	436	272	129	253	232	163	112	235	222	84	78
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.23	1.16	1.31	1.06	1.52	1.18	1.50	1.32	1.39	1.35	1.39
Price to Tangible Book Value (P/TBV)	6.58	5.36	5.29	3.88	5.13	3.85	4.83	3.95	3.98	3.84	3.87
Price to Revenue (P/Rev)	0.27	0.27	0.36	0.34	0.54	0.44	0.57	0.51	0.56	0.57	0.58
Price to Earnings (P/E)	3.88	4.09	6.25	7.31	16.14	15.78	21.75	19.86	21.28	26.12	27.08
Dividend Yield	2.12%	2.21%	1.90%	2.31%	1.59%	2.12%	1.68%	1.91%	1.81%	1.85%	1.91%
Earnings Yield	25.78%	24.44%	15.99%	13.67%	6.20%	6.34%	4.60%	5.04%	4.70%	3.83%	3.69%
Enterprise Value to Invested Capital (EV/IC)	1.16	1.11	1.23	1.05	1.43	1.14	1.40	1.26	1.34	1.30	1.34
Enterprise Value to Revenue (EV/Rev)	0.36	0.37	0.46	0.44	0.61	0.51	0.67	0.59	0.62	0.63	0.64
Enterprise Value to EBITDA (EV/EBITDA)	3.19	3.31	4.56	4.91	7.72	6.95	9.12	8.20	8.49	9.26	9.78
Enterprise Value to EBIT (EV/EBIT)	3.80	4.01	5.75	6.66	11.45	11.07	14.91	13.63	14.22	16.87	18.14
Enterprise Value to NOPAT (EV/NOPAT)	4.93	5.17	7.47	8.43	15.57	15.02	20.22	18.52	19.29	24.26	25.17
Enterprise Value to Operating Cash Flow (EV/OCF)	5.95	5.46	7.25	6.47	6.96	5.70	9.21	8.51	11.40	11.72	9.30
Enterprise Value to Free Cash Flow (EV/FCFF)	22.63	5.54	8.02	8.26	9.25	7.14	11.93	9.80	13.87	18.18	9.27
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.50	0.48	0.48	0.43	0.34	0.34	0.37	0.33	0.30	0.28	0.28
Long-Term Debt to Equity	0.49	0.47	0.46	0.42	0.32	0.32	0.35	0.30	0.27	0.26	0.25
Financial Leverage	0.40	0.50	0.47	0.39	0.30	0.30	0.31	0.26	0.17	0.18	0.20
Leverage Ratio	2.15	2.22	2.13	2.08	1.93	1.91	1.88	1.87	1.77	1.76	1.77
Compound Leverage Factor	2.01	1.97	1.19	1.78	1.65	1.49	0.37	1.62	1.55	-0.14	-0.27
Debt to Total Capital	33.19%	32.38%	32.28%	30.27%	25.34%	25.48%	27.24%	24.67%	22.84%	22.00%	21.67%
Short-Term Debt to Total Capital	0.64%	0.62%	0.85%	0.92%	1.14%	1.33%	1.58%	1.94%	1.98%	1.96%	1.79%
Long-Term Debt to Total Capital	32.55%	31.76%	31.43%	29.35%	24.20%	24.16%	25.66%	22.72%	20.86%	20.04%	19.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.14%	0.16%	0.13%	0.11%	0.14%	0.15%	0.11%	0.10%	0.13%	0.15%	0.03%
Common Equity to Total Capital	66.66%	67.46%	67.58%	69.61%	74.52%	74.36%	72.64%	75.24%	77.03%	77.85%	78.30%
Debt to EBITDA	0.97	1.02	1.29	1.55	1.53	1.73	1.94	1.77	1.65	1.75	1.77
Net Debt to EBITDA	0.79	0.85	1.00	1.11	0.89	1.01	1.33	1.09	0.77	0.86	0.94
Long-Term Debt to EBITDA	0.95	1.00	1.26	1.51	1.46	1.64	1.83	1.63	1.50	1.60	1.62
Debt to NOPAT	1.50	1.59	2.12	2.67	3.08	3.73	4.31	3.99	3.74	4.59	4.54
Net Debt to NOPAT	1.23	1.32	1.64	1.91	1.79	2.19	2.94	2.46	1.76	2.26	2.42
Long-Term Debt to NOPAT	1.47	1.56	2.06	2.59	2.94	3.54	4.06	3.68	3.41	4.18	4.17
Altman Z-Score	3.99	3.89	3.76	3.34	3.67	3.35	3.53	3.48	3.68	3.63	3.67
Noncontrolling Interest Sharing Ratio	0.52%	0.56%	0.50%	0.19%	0.20%	0.22%	0.17%	0.15%	0.17%	0.20%	0.10%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.74	1.85	1.95	1.79	1.63	1.63	1.75	1.65	1.69	1.71	1.71
Quick Ratio	0.72	0.68	0.64	0.68	0.63	0.61	0.59	0.69	0.77	0.73	0.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-638	86	-27	157	403	478	252	422	223	91	420
Operating Cash Flow to CapEx	625.00%	177.56%	206.55%	587.78%	1,051.80%	157.29%	-369.73%	1,639.09%	1,014.42%	140.30%	366.34%
Free Cash Flow to Firm to Interest Expense	0.00	3.77	-1.06	5.97	0.00	0.00	0.00	19.35	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	4.12	3.56	10.96	0.00	0.00	0.00	11.53	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	1.80	1.84	9.09	0.00	0.00	0.00	10.83	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.32	2.05	1.86	1.60	1.52	1.45	1.43	1.39	1.41	1.38	1.36
Accounts Receivable Turnover	17.22	15.65	15.37	11.86	14.01	14.75	16.25	12.48	14.94	15.43	14.85
Inventory Turnover	8.65	7.28	6.60	5.74	5.59	5.07	4.90	5.11	5.69	5.39	5.16
Fixed Asset Turnover	0.00	0.00	10.97	9.41	0.00	7.95	7.66	7.48	0.00	7.02	7.03
Accounts Payable Turnover	15.55	14.82	14.24	11.34	12.22	12.70	12.73	11.03	12.59	12.59	11.15
Days Sales Outstanding (DSO)	21.19	23.32	23.75	30.78	26.05	24.75	22.46	29.24	24.42	23.65	24.58
Days Inventory Outstanding (DIO)	42.21	50.16	55.33	63.55	65.29	71.96	74.50	71.38	64.14	67.77	70.70
Days Payable Outstanding (DPO)	23.48	24.63	25.64	32.20	29.86	28.74	28.68	33.09	28.98	29.00	32.73
Cash Conversion Cycle (CCC)	39.93	48.84	53.44	62.13	61.48	67.97	68.28	67.53	59.59	62.42	62.55
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,067	5,131	5,188	5,109	4,767	4,735	4,950	4,817	4,641	4,651	4,537
Invested Capital Turnover	3.55	3.04	2.70	2.39	2.26	2.13	2.05	2.06	2.13	2.06	2.00
Increase / (Decrease) in Invested Capital	935	75	58	-13	-300	-397	-238	-292	-126	-83	-413
Enterprise Value (EV)	5,888	5,687	6,363	5,348	6,832	5,397	6,924	6,088	6,220	6,053	6,058
Market Capitalization	4,414	4,222	4,955	4,131	6,041	4,603	5,911	5,274	5,646	5,483	5,473
Book Value per Share	$65.89	$67.86	$70.64	$72.72	$74.59	$73.44	$73.82	$75.07	$76.46	$76.60	$74.25
Tangible Book Value per Share	$12.31	$14.67	$17.50	$19.89	$22.11	$22.44	$22.94	$25.06	$26.68	$27.01	$26.56
Total Capital	5,389	5,399	5,594	5,591	5,336	5,265	5,419	5,321	5,280	5,208	5,047
Total Debt	1,789	1,748	1,806	1,692	1,352	1,342	1,476	1,313	1,206	1,146	1,094
Total Long-Term Debt	1,754	1,715	1,759	1,641	1,291	1,272	1,390	1,209	1,101	1,044	1,003
Net Debt	1,466	1,456	1,400	1,211	784	786	1,008	808	567	563	584
Capital Expenditures (CapEx)	56	53	44	49	48	38	28	15	33	22	8.42
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,030	1,114	1,163	1,062	697	733	958	863	686	708	766
Debt-free Net Working Capital (DFNWC)	1,341	1,405	1,444	1,416	1,138	1,159	1,299	1,235	1,188	1,154	1,140
Net Working Capital (NWC)	1,307	1,372	1,397	1,364	1,077	1,089	1,213	1,131	1,083	1,051	1,050
Net Nonoperating Expense (NNE)	15	23	4.95	25	12	27	8.78	16	5.69	8.87	9.90
Net Nonoperating Obligations (NNO)	1,466	1,481	1,400	1,211	784	811	1,008	808	567	589	584
Total Depreciation and Amortization (D&A)	75	70	71	71	77	70	77	71	77	70	67
Debt-free, Cash-free Net Working Capital to Revenue	6.31%	7.20%	8.34%	8.70%	6.26%	6.97%	9.24%	8.42%	6.83%	7.31%	8.07%
Debt-free Net Working Capital to Revenue	8.22%	9.09%	10.36%	11.60%	10.23%	11.02%	12.52%	12.05%	11.83%	11.91%	12.01%
Net Working Capital to Revenue	8.01%	8.87%	10.02%	11.18%	9.68%	10.35%	11.69%	11.04%	10.78%	10.86%	11.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.16	$2.54	$0.51	$2.26	$1.69	$1.01	$0.14	$2.15	$1.68	($0.03)	($0.01)
Adjusted Weighted Average Basic Shares Outstanding	55.03M	53.66M	53.52M	53.43M	53.48M	53.30M	53.32M	53.31M	53.25M	52.97M	53.21M
Adjusted Diluted Earnings per Share	$5.14	$2.53	$0.50	$2.24	$1.68	$0.99	$0.13	$2.13	$1.69	($0.03)	($0.01)
Adjusted Weighted Average Diluted Shares Outstanding	55.26M	53.93M	53.81M	53.82M	53.86M	53.85M	53.65M	53.72M	53.69M	52.97M	53.21M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.68M	53.52M	53.52M	53.31M	53.31M	53.32M	53.32M	53.20M	52.93M	53.22M	53.20M
Normalized Net Operating Profit after Tax (NOPAT)	297	161	31	144	103	82	14	130	97	8.00	6.81
Normalized NOPAT Margin	7.77%	5.17%	1.31%	4.93%	3.78%	3.27%	0.64%	4.64%	3.83%	0.37%	0.34%
Pre Tax Income Margin	8.85%	5.77%	1.39%	5.31%	4.82%	2.90%	0.31%	5.08%	5.01%	-0.05%	-0.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	8.86	2.28	6.90	0.00	0.00	0.00	7.52	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	7.05	1.20	5.48	0.00	0.00	0.00	5.96	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	6.54	0.55	5.03	0.00	0.00	0.00	6.82	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	4.72	-0.52	3.61	0.00	0.00	0.00	5.25	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	8.34%	0.00%	12.04%	16.90%	25.64%	0.00%	36.46%	37.98%	38.48%	0.00%	51.80%
Augmented Payout Ratio	22.85%	18.48%	28.75%	36.16%	36.87%	15.98%	53.64%	54.20%	64.25%	18.31%	71.73%

Frequently Asked Questions About THOR Industries' Financials

When does THOR Industries's fiscal year end?

According to the most recent income statement we have on file, THOR Industries' financial year ends in July. Their financial year 2024 ended on July 31, 2024.

How has THOR Industries' net income changed over the last 9 years?

THOR Industries' net income appears to be on an upward trend, with a most recent value of $265.40 million in 2024, rising from $199.39 million in 2015. The previous period was $374.24 million in 2023. Check out THOR Industries' forecast to explore projected trends and price targets.

What is THOR Industries's operating income?

THOR Industries's total operating income in 2024 was $423.89 million, based on the following breakdown:

Total Gross Profit: $1.45 billion
Total Operating Expenses: $1.03 billion

How has THOR Industries revenue changed over the last 9 years?

Over the last 9 years, THOR Industries' total revenue changed from $4.01 billion in 2015 to $10.04 billion in 2024, a change of 150.7%.

How much debt does THOR Industries have?

THOR Industries' total liabilities were at $2.95 billion at the end of 2024, a 10.1% decrease from 2023, and a 572.7% increase since 2015.

How much cash does THOR Industries have?

In the past 9 years, THOR Industries' cash and equivalents has ranged from $183.48 million in 2015 to $538.52 million in 2020, and is currently $501.32 million as of their latest financial filing in 2024.

How has THOR Industries' book value per share changed over the last 9 years?

Over the last 9 years, THOR Industries' book value per share changed from 20.33 in 2015 to 76.46 in 2024, a change of 276.1%.

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This page (NYSE:THO) was last updated on 4/10/2025 by MarketBeat.com Staff

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THOR Industries (THO) Financials

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THOR Industries (THO) Financials

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