Lci Industries (LCII) intrinsic value & 10-year financials
Lci Industries (LCII) has a Graham intrinsic value of $111.16 per share. At $83.89 on Oct 17, 2026, the stock trades 25% below that value. Over the last 10 fiscal years revenue grew 10.5% a year to $4.1B, with an average return on invested capital of 14.0%.
- Graham intrinsic value
- $111.16
- Share price (Oct 17, 2026)
- $83.89
- Price vs Graham value
- 25% below
- Market cap
- $2.1B
- Revenue (FY2025)
- $4.1B
- Revenue growth (10-yr CAGR)
- 10.5%
- ROIC (10-yr avg)
- 14.0%
- Free cash flow (FY2025)
- $278.3M
LCII 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.1B | $188.2M | $7.57 | $278.3M | 6.8% | 9.2% |
| FY2024 | $3.7B | $142.9M | $5.60 | $328.0M | 5.8% | 7.3% |
| FY2023 | $3.8B | $64.2M | $2.52 | $465.0M | 3.3% | 3.8% |
| FY2022 | $5.2B | $395.0M | $15.48 | $471.9M | 10.6% | 16.1% |
| FY2021 | $4.5B | $287.7M | $11.32 | -$210.1M | 8.9% | 14.4% |
| FY2020 | $2.8B | $158.4M | $6.27 | $174.1M | 8.0% | 10.7% |
| FY2019 | $2.4B | $146.5M | $5.84 | $211.3M | 8.4% | 12.5% |
| FY2018 | $2.5B | $148.6M | $5.83 | $36.8M | 8.0% | 18.5% |
| FY2017 | $2.1B | $132.9M | $5.24 | $67.9M | 10.0% | 22.5% |
| FY2016 | $1.7B | $129.7M | $5.20 | $158.7M | 12.0% | 25.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
LCI INDUSTRIES is a consistent compounder, expanding top-line revenue at 10.5% annually over the past decade.
LCI INDUSTRIES returns on capital have been average, hovering around 14.0% ROIC over the decade.
Over the decade, LCI INDUSTRIES shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, LCI INDUSTRIES is modeled at 4.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $111.16 per share.