Financials THOR Industries, Inc.

Equities

THO

US8851601018

Recreational Products

Real-time Estimate Cboe BZX Other stock markets 15:42:35 2025-07-18 EDT			5-day change	1st Jan Change
89.22 ^USD	-0.54%		-3.66%	-6.15%

06-25	US Recreational Vehicle Market Drops 15.1 Percent in May - RVIA	FW
06-23	Thor Industries Insider Bought Shares Worth $256,200, According to a Recent SEC Filing	MT

Projected Income Statement: THOR Industries, Inc.

Fiscal Period: July	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	8,168	12,317	16,313	11,122	10,043	9,395	9,726	10,360
Change	-	50.8%	32.44%	-31.82%	-9.69%	-6.46%	3.53%	6.52%
EBITDA ¹	583	1,169	1,817	862.4	701	609	641.9	748
Change	-	100.5%	55.44%	-52.54%	-18.71%	-13.13%	5.41%	16.52%
EBIT ¹	386.9	907.9	1,533	585.5	423.9	298.2	356.2	450
Change	-	134.68%	68.81%	-61.8%	-27.6%	-29.64%	19.45%	26.32%
Interest Paid ¹	-104.2	-93.54	-90.09	-97.45	-88.67	-51.05	-53.17	-44.73
Earnings before Tax (EBT) ¹	272.9	844.6	1,460	499.4	348.8	241.7	301.2	395.7
Change	-	209.49%	72.85%	-65.79%	-30.14%	-30.71%	24.6%	31.38%
Net income ¹	223	659.9	1,138	374.3	265.3	197.8	239.9	316.9
Change	-	195.95%	72.42%	-67.11%	-29.11%	-25.45%	21.3%	32.08%
Announcement Date	9/28/20	9/28/21	9/28/22	9/25/23	9/24/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: July	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	2,324	2,537	2,728	3,459	3,593	3,958	3,875	4,658	3,822	3,108	2,347	2,929	2,738	2,501	2,207	2,801	2,534	2,143	2,018	2,895	2,346	2,121	2,065	2,968	2,511	2,284	2,149	3,087
Change	-	9.17%	7.5%	26.82%	3.87%	10.17%	-2.1%	20.19%	-17.94%	-18.67%	-24.5%	24.81%	-6.51%	-8.67%	-11.73%	26.9%	-9.53%	-15.44%	-5.82%	43.44%	-18.97%	-9.57%	-2.65%	43.72%	-15.39%	-9.05%	-5.91%	43.65%
EBITDA ¹	219.2	223.9	236.2	301.7	385.8	391.3	440.4	556.7	428.7	276.6	106.7	255.6	223.5	175	86.38	231.2	208.5	107.8	87.02	254.8	182.2	102	92.74	251.9	203.3	138	125	300
Change	-	2.14%	5.51%	27.71%	27.89%	1.42%	12.55%	26.41%	-22.98%	-35.48%	-61.44%	139.64%	-12.57%	-21.71%	-50.63%	167.63%	-9.8%	-48.31%	-19.27%	192.85%	-28.52%	-44.01%	-9.06%	171.65%	-19.32%	-32.11%	-9.42%	140%
EBIT ¹	167.6	169.7	179.5	243	315.8	326.3	364.5	485	356.8	209.6	38.99	187.5	149.4	107.7	18.26	163	134.9	11.42	9.731	175.2	102.5	29.2	21.86	182.1	124.1	57	46	220
Change	-	1.22%	5.79%	35.37%	29.96%	3.35%	11.69%	33.08%	-26.44%	-41.24%	-81.4%	380.8%	-20.32%	-27.91%	-83.05%	792.87%	-17.24%	-91.53%	-14.81%	1,700.86%	-41.53%	-71.5%	-25.13%	732.75%	-31.83%	-54.07%	-19.3%	378.26%
Charge d'intérêts ¹	-24.88	-24.28	-23.96	-26.81	-18.96	-20.91	-24.6	-22.29	-22.58	-22.81	-25.63	-26.36	-22.64	-20.2	-28.23	-21.83	-18.41	-15.23	-11.95	-11.2	-13.11	-13.56	-13.36	-12.7	-12.09	-	-	-
Earnings before Tax (EBT) ¹	148.2	146.3	164	232.7	301.6	312.8	346.3	462.4	338.4	179.3	32.72	155.5	131.9	72.58	6.894	142.4	127	-1.156	-1.6	155.6	86.99	14.91	11.97	168.6	115.6	-	-	-
Change	-	-1.25%	12.06%	41.91%	29.63%	3.72%	10.68%	33.55%	-26.83%	-47.02%	-81.75%	375.12%	-15.14%	-44.98%	-90.5%	1,964.84%	-10.77%	-100.91%	-38.41%	9,823.75%	-44.09%	-82.86%	-19.73%	1,308%	-31.43%	-	-	-
Net income ¹	119.2	113.8	132.5	183.3	230.3	242.2	266.6	348.1	280.9	136.2	27.08	120.7	90.29	53.56	7.217	114.5	90.02	-1.832	-0.551	135.2	65.81	11.24	8.9	135.8	91.86	-	-	-
Change	-	-4.54%	16.5%	38.32%	25.63%	5.19%	10.04%	30.57%	-19.28%	-51.53%	-80.12%	345.79%	-25.21%	-40.67%	-86.53%	1,486.68%	-21.39%	-102.04%	69.92%	24,634.48%	-51.32%	-82.92%	-20.84%	1,425.82%	-32.36%	-	-	-
Announcement Date	9/28/20	12/8/20	3/9/21	6/8/21	9/28/21	12/8/21	3/9/22	6/8/22	9/28/22	12/7/22	3/7/23	6/6/23	9/25/23	12/6/23	3/6/24	6/5/24	9/24/24	12/4/24	3/5/25	6/4/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: THOR Industries, Inc.

Fiscal Period: July	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	1,161	1,456	861	633	485	446	437
Change	-	-	25.41%	-40.87%	-26.48%	-23.33%	-8.04%	-2.02%
Announcement Date	9/28/20	9/28/21	9/28/22	9/25/23	9/24/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: THOR Industries, Inc.

Fiscal Period: July	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	106.7	128.8	242.4	208.2	139.6	150	193.8	195
Change	-	20.75%	88.11%	-14.09%	-32.93%	7.44%	29.19%	0.62%
Free Cash Flow (FCF) ¹	434.2	397.6	747.9	773.4	405.9	360.9	280.6	169
Change	-	-8.43%	88.08%	3.42%	-47.52%	-11.09%	-22.25%	-39.79%
Announcement Date	9/28/20	9/28/21	9/28/22	9/25/23	9/24/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: THOR Industries, Inc.

Fiscal Period: July	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	7.14%	9.49%	11.14%	7.75%	6.98%	6.48%	6.6%	7.22%
EBIT Margin (%)	4.74%	7.37%	9.4%	5.26%	4.22%	3.17%	3.66%	4.34%
EBT Margin (%)	3.34%	6.86%	8.95%	4.49%	3.47%	2.57%	3.1%	3.82%
Net margin (%)	2.73%	5.36%	6.98%	3.37%	2.64%	2.11%	2.47%	3.06%
FCF margin (%)	5.32%	3.23%	4.58%	6.95%	4.04%	3.84%	2.89%	1.63%
FCF / Net Income (%)	194.75%	60.26%	65.73%	206.65%	153%	182.47%	116.96%	53.32%
Profitability
ROA	4.04%	10.62%	-	-	3.73%	2.9%	3.8%	5.1%
ROE	10.5%	25.18%	34.93%	9.89%	6.57%	5.15%	5.82%	7.67%
Financial Health
Leverage (Debt/EBITDA)	-	0.99x	0.8x	1x	0.9x	0.8x	0.7x	0.58x
Debt / Free cash flow	-	2.92x	1.95x	1.11x	1.56x	1.34x	1.59x	2.59x
Capital Intensity
CAPEX / Current Assets (%)	1.31%	1.05%	1.49%	1.87%	1.39%	1.6%	1.99%	1.88%
CAPEX / EBITDA (%)	18.3%	11.02%	13.34%	24.14%	19.92%	24.64%	30.19%	26.07%
CAPEX / FCF (%)	24.57%	32.4%	32.41%	26.92%	34.4%	41.57%	69.07%	115.42%
Items per share
Cash flow per share ¹	-	9.454	17.92	18.23	10.16	8.459	8.678	10.01
Change	-	-	89.54%	1.71%	-44.25%	-16.75%	2.59%	15.35%
Dividend per Share ¹	1.6	1.64	1.72	1.8	1.92	1.983	2.054	2.111
Change	-	2.5%	4.88%	4.65%	6.67%	3.28%	3.58%	2.8%
Book Value Per Share ¹	42.03	52.77	66.93	73.83	75.76	78.3	79.9	82.6
Change	-	25.57%	26.83%	10.3%	2.62%	3.35%	2.04%	3.38%
EPS ¹	4.02	11.85	20.59	6.95	4.94	3.748	4.443	5.967
Change	-	194.78%	73.76%	-66.25%	-28.92%	-24.13%	18.55%	34.28%
Nbr of stocks (in thousands)	55,199	55,366	54,531	53,308	53,198	53,204	53,204	53,204
Announcement Date	9/28/20	9/28/21	9/28/22	9/25/23	9/24/24	-	-	-