Thor Industries Inc Stock Research

Market Summary

USD77.17+1.16

Market Closedas of 27 Mar 2023, 09:32 am

1.53%

THO Alerts

Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)

THO Stock Price

THO RSI Chart

THO Valuation

Market Cap

4.1B

Price/Earnings (Trailing)

5.15

Price/Sales (Trailing)

0.29

EV/EBITDA

4.65

Price/Free Cashflow

4.65

THO Price/Sales (Trailing)

THO Profitability

EBT Margin

7.27%

Return on Equity

20.91%

Return on Assets

10.84%

Free Cashflow Yield

21.52%

THO Fundamentals

THO Revenue

Revenue (TTM)

13.9B

Revenue Y/Y

-39.44%

Revenue Q/Q

-24.5%

THO Earnings

Earnings (TTM)

792.3M

Earnings Y/Y

-89.84%

Earnings Q/Q

-80.12%

Price Action

52 Week Range

65.51105.36

(Low)(High)

Last 7 days

-5.7%

Last 30 days

-17.7%

Last 90 days

-1.6%

Trailing 12 Months

-7.5%

THO Financial Health

Current Ratio

1.95

Debt/Equity

0.46

Debt/Cashflow

0.51

THO Investor Care

Dividend Yield

2.32%

Dividend/Share (TTM)

1.76

Buy Backs (1Y)

3.19%

Diluted EPS (TTM)

14.5

Peers (Alternatives to Thor Industries)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
TSLA	602.5B	81.5B	-5.20%	-43.66%	47.98	7.4	51.35%	127.50%
GM	48.8B	156.7B	-17.56%	-23.65%	4.91	0.31	23.41%	-0.85%
F	46.3B	158.1B	-5.73%	-29.74%	-21.51	0.29	15.93%	-112.02%
APTV	29.0B	17.5B	-7.68%	-9.77%	48.89	1.66	11.98%	0.68%
BWA	11.1B	15.8B	-4.74%	23.53%	11.75	0.7	6.49%	75.79%
MID-CAP
ALV	7.7B	8.8B	-1.32%	18.04%	18.19	0.87	7.44%	-2.76%
HOG	6.3B	5.8B	-24.54%	-5.82%	10.14	1.18	7.85%	14.06%
GNTX	6.3B	1.9B	-5.37%	-6.37%	19.67	3.27	10.85%	-11.65%
THO	4.1B	13.9B	-17.72%	-7.51%	5.15	0.29	-6.39%	-14.11%
SMALL-CAP
TEN	1.7B	18.6B	8.17%	58.15%	-7.03	0.09	1.85%	-200.42%
WGO	1.7B	4.8B	-12.87%	-2.37%	4.75	0.35	19.08%	8.38%
AXL	843.5M	5.8B	-16.55%	-8.91%	13.12	0.15	12.52%	989.83%
SRI	485.0M	899.9M	-23.34%	-1.77%	-23.72	0.54	16.80%	-255.49%
CPS	226.2M	2.5B	-16.22%	29.61%	-1.05	0.09	8.38%	33.28%
FUV	3.2M	5.0M	-27.69%	-80.22%	-0.05	0.65	17.40%	-129.43%

Financials for Thor Industries

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	-9.9%	13,934	15,462	16,313	16,084	14,885
Gross Profit	-14.9%	2,245	2,637	2,806	2,734	2,432
S&GA Expenses	-5.5%	1,003	1,062	1,116	1,095	1,045
EBITDA	-20.9%	1,188	1,501	1,679	1,784	-
EBITDA Margin	-12.2%	0.09*	0.10*	0.10*	0.11*	-
Earnings Before Taxes	-23.6%	1,013	1,326	1,460	1,423	1,193
EBT Margin	-15.3%	0.07*	0.09*	0.09*	0.09*	-
Interest Expenses	-47.9%	48.00	91.00	46.00	50.00	-
Net Income	-23.2%	792	1,032	1,138	1,087	922
Net Income Margin	-14.8%	0.06*	0.07*	0.07*	0.07*	-
Free Cahsflow	-15.8%	878	1,042	990	989	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	0.4%	7,312	7,281	7,408	7,736	7,665
Current Assets	-4.4%	2,863	2,994	3,062	3,359	3,201
Cash Equivalents	-3.5%	282	292	312	329	305
Inventory	0.6%	1,865	1,853	1,755	1,734	1,679
Goodwill	0.0%	1,784	1,784	1,804	1,835	1,889
Current Liabilities	-9.6%	1,466	1,622	1,756	1,972	1,904
Long Term Debt	-2.4%	1,725	1,767	1,995	2,179	-
LT Debt, Current	9.3%	11.00	10.00	13.00	11.00	12.00
LT Debt, Non Current	2.6%	1,759	1,715	1,754	1,984	2,168
Shareholder's Equity	4.0%	3,788	3,642	3,593	3,434	3,254
Retained Earnings	0.1%	3,928	3,925	3,813	3,556	3,231
Additional Paid-In Capital	1.6%	518	510	498	491	480
Shares Outstanding	-2.3%	54.00	55.00	55.00	-	-
Minority Interest	-14.5%	7.00	9.00	8.00	7.00	28.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-15.8%	878	1,042	990	989	913
Share Based Compensation	4.7%	35.00	34.00	31.00	32.00	30.00
Cashflow From Investing	16.5%	-264	-316	-1,049	-1,019	-969
Cashflow From Financing	14.0%	-640	-744	-47.84	105	215
Dividend Payments	4.2%	95.00	91.00	-	-	-
Buy Backs	-30.6%	132	191	165	98.00	58.00

Risks for THO

What is the probability of a big loss on THO?

100%

Probability that Thor Industries stock will be more than 20% underwater in next one year

80%

Probability that Thor Industries stock will be more than 30% underwater in next one year.

59.2%

Probability that Thor Industries stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does THO drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Thor Industries was unfortunately bought at previous high price.

Drawdowns

Returns for THO

Cumulative Returns on THO

9.9%

10-Year Cumulative Returns

4.9%

7-Year Cumulative Returns

-5.3%

5-Year Cumulative Returns

28.8%

3-Year Cumulative Returns

What are the long-term rolling returns for THO?

FIve years rolling returns for Thor Industries.

Annualized Returns

Which funds bought or sold THO recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-1.56	3,132,500	53,712,500	0.06%
2023-03-08	Capital Asset Advisory Services LLC	sold off	-100	-351,000	-	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-94.49	-8,000	-	-%
2023-02-28	Voya Investment Management LLC	added	59.88	759,967	1,808,970	-%
2023-02-27	Parallax Volatility Advisers, L.P.	added	73.84	373,213	799,213	-%
2023-02-24	SRS Capital Advisors, Inc.	unchanged	-	1,704	23,704	-%
2023-02-24	NATIXIS	reduced	-47.44	-2,605,850	3,412,150	0.02%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	reduced	-2.00	101,000	1,850,000	0.02%
2023-02-22	CVA Family Office, LLC	unchanged	-	813	5,813	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	164	5,984	8,984	-%

Latest Funds Activity

Are funds buying THO calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own THO

No. of Funds

Thor Industries News

Schedule 13G FIlings of Thor Industries

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	harris associates l p	5.3%	2,861,284	SC 13G
Feb 14, 2023	kayne anderson rudnick investment management llc	9.57%	5,119,657	SC 13G/A
Feb 13, 2023	capital research global investors	4.7%	2,526,116	SC 13G/A
Feb 09, 2023	royal london asset management ltd	7165%	2,658,377	SC 13D
Feb 09, 2023	vanguard group inc	9.90%	5,296,944	SC 13G/A
Feb 03, 2023	royal london asset management ltd	-	12	SC 13D/A
Jan 25, 2023	blackrock inc.	8.8%	4,716,362	SC 13G/A
Feb 11, 2022	capital research global investors	8.7%	4,863,269	SC 13G/A
Feb 10, 2022	vanguard group inc	9.46%	5,259,362	SC 13G/A
Feb 10, 2022	kayne anderson rudnick investment management llc	10.30%	5,727,422	SC 13G/A

THO Fair Value

Thor Industries fair value in different scenarios

The table shows the Fair Value estimates for Thor Industries for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	- -	- -	- -	- -
Current Inflation	231.94 200.56%	302.11 291.49%	466.52 504.54%	784.04 915.99%	993.90 1187.94%
Very High Inflation	- -	- -	- -	- -	- -

Historical Thor Industries Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Thor Industries

View All Filings

Date Filed	Form Type	Document
Mar 07, 2023	8-K	Current Report
Mar 07, 2023	10-Q	Quarterly Report
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 14, 2023	SC 13G	Major Ownership Report
Feb 13, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13D	13D - Major Acquisition
Feb 03, 2023	SC 13D/A	13D - Major Acquisition
Jan 25, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for THO

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-12-09	ORTHWEIN PETER BUSCH	gifted	-	-	-400	-
2022-10-17	ORTHWEIN PETER BUSCH	gifted	-476,160	79.36	-6,000	-
2022-10-11	JULIAN KENNETH D	acquired	-	-	11,862	svp of admin and hr
2022-10-11	ZUHL COLLEEN A	acquired	-	-	21,603	sr. vp and chief fin. officer
2022-10-11	KLEIN CHRISTOPHER J	acquired	-	-	1,658	-
2022-10-11	Huntington Amelia	acquired	-	-	1,658	-
2022-10-11	Graves Andrew E	acquired	-	-	1,658	-
2022-10-11	ORTHWEIN PETER BUSCH	acquired	-	-	1,658	-
2022-10-11	Kelley William J. JR	acquired	-	-	1,658	-
2022-10-11	HENNINGTON CHRISTINA	acquired	-	-	1,658	-

About Thor Industries

Robert W. Martin

www.thorindustries.com

31000

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

THO Income Statement

2023-01-31

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Income Statement [Abstract]
Net sales	$ 2,346,635	$ 3,875,018	$ 5,454,719	$ 7,833,242
Cost of products sold	2,063,700	3,199,744	4,685,308	6,502,544
Gross profit	282,935	675,274	769,411	1,330,698
Selling, general and administrative expenses	208,743	267,450	450,367	563,333
Amortization of intangible assets	35,199	43,349	70,418	76,563
Interest expense, net	25,633	24,507	48,440	45,227
Other income, net	19,358	6,285	11,803	13,520
Income before income taxes	32,718	346,253	211,989	659,095
Income tax provision	6,912	80,618	48,760	148,657
Net income	25,806	265,635	163,229	510,438
Less: Net income (loss) attributable to non-controlling interests	(1,274)	(933)	(36)	1,628
Net income attributable to THOR Industries, Inc.	$ 27,080	$ 266,568	$ 163,265	$ 508,810
Weighted-average common shares outstanding:
Basic (in shares)	53,518,878	55,493,622	53,587,646	55,458,238
Diluted (in shares)	53,810,910	55,649,445	53,869,830	55,720,079
Earnings per common share:
Basic (in dollars per share)	$ 0.51	$ 4.80	$ 3.05	$ 9.17
Diluted (in dollars per share)	$ 0.50	$ 4.79	$ 3.03	$ 9.13
Comprehensive income:
Net income	$ 25,806	$ 265,635	$ 163,229	$ 510,438
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment	128,377	(69,974)	85,048	(105,141)
Unrealized gain (loss) on derivatives, net of tax	(661)	2,129	143	4,484
Other (loss), net of tax	(39)	(372)	(39)	(372)
Total other comprehensive income (loss), net of tax	127,677	(68,217)	85,152	(101,029)
Total Comprehensive income	153,483	197,418	248,381	409,409
Less: Comprehensive income (loss) attributable to non-controlling interests	(1,249)	(1,478)	(445)	923
Comprehensive income attributable to THOR Industries, Inc.	$ 154,732	$ 198,896	$ 248,826	$ 408,486

THO Balance Sheet

2023-01-31

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jan. 31, 2023	Jul. 31, 2022
Current assets:
Cash and cash equivalents	$ 281,556	$ 311,553
Accounts receivable, trade, net	572,301	848,814
Accounts receivable, other, net	78,659	95,367
Inventories, net	1,864,647	1,754,773
Prepaid income taxes, expenses and other	65,864	51,972
Total current assets	2,863,027	3,062,479
Property, plant and equipment, net	1,325,032	1,258,159
Other assets:
Goodwill	1,783,776	1,804,151
Amortizable intangible assets, net	1,060,563	1,117,492
Deferred income tax assets, net	8,381	7,950
Equity investments	124,290	10,811
Other	146,891	147,090
Total other assets	3,123,901	3,087,494
TOTAL ASSETS	7,311,960	7,408,132
Current liabilities:
Accounts payable	639,440	822,449
Current portion of long-term debt	11,116	13,190
Short-term financial obligations	36,427	21,403
Accrued liabilities:
Compensation and related items	157,283	254,772
Product warranties	326,665	317,908
Income and other taxes	41,871	57,391
Promotions and rebates	127,571	134,298
Product, property and related liabilities	60,897	61,700
Other	65,219	72,805
Total current liabilities	1,466,489	1,755,916
Long-term debt, net	1,758,506	1,754,239
Deferred income tax liabilities, net	107,218	115,931
Unrecognized tax benefits	18,375	17,243
Other liabilities	173,242	164,149
Total long-term liabilities	2,057,341	2,051,562
Contingent liabilities and commitments
Stockholders’ equity:
Preferred stock – authorized 1,000,000 shares; none outstanding	0	0
Common stock – par value of $.10 per share; authorized 250,000,000 shares; issued 66,334,072 and 66,059,403 shares, respectively	6,633	6,606
Additional paid-in capital	517,510	497,946
Retained earnings	3,928,361	3,813,261
Accumulated other comprehensive loss, net of tax	(96,046)	(181,607)
Less treasury shares of 12,815,099 and 12,382,441, respectively, at cost	(575,675)	(543,344)
Stockholders’ equity attributable to THOR Industries, Inc.	3,780,783	3,592,862
Non-controlling interests	7,347	7,792
Total stockholders’ equity	3,788,130	3,600,654
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 7,311,960	$ 7,408,132