Thor Industries Inc. (THO) intrinsic value & 10-year financials
Thor Industries Inc. (THO) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 3.2% a year to $9.6B, with an average return on invested capital of 9.3%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $68.44
- Market cap
- $3.6B
- Revenue (FY2026)
- $9.6B
- Revenue growth (10-yr CAGR)
- 3.2%
- ROIC (10-yr avg)
- 9.3%
- Free cash flow (FY2026)
- $168.8M
THO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $9.6B | $177.5M | $3.38 | $168.8M | — | 3.8% |
| FY2025 | $9.6B | $258.6M | $4.84 | $454.9M | — | 5.5% |
| FY2024 | $10.0B | $265.3M | $4.94 | $405.9M | — | 5.5% |
| FY2023 | $11.1B | $374.3M | $6.95 | $773.4M | — | 7.5% |
| FY2022 | $16.3B | $1.1B | $20.59 | $747.9M | — | 24.7% |
| FY2021 | $12.3B | $659.9M | $11.85 | $397.6M | — | 17.4% |
| FY2020 | $8.2B | $223.0M | $4.02 | $434.2M | — | 6.3% |
| FY2019 | $7.9B | $133.3M | $2.47 | $377.8M | — | 3.7% |
| FY2018 | $8.3B | $430.2M | $8.14 | $328.3M | — | — |
| FY2017 | $7.2B | $374.3M | $7.09 | $304.3M | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
THOR INDUSTRIES INC has demonstrated mature, steady growth, with revenue compounding at 3.2% annually over the past decade.
THOR INDUSTRIES INC returns on capital have been average, hovering around 9.3% ROIC over the decade.
THOR INDUSTRIES INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, THOR INDUSTRIES INC is modeled at -7.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-21.29 per share.