Winnebago Industries Inc. (WGO) intrinsic value & 10-year financials
Winnebago Industries Inc. (WGO) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 12.4% a year to $2.8B, with an average return on invested capital of 16.3%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $24.00
- Market cap
- $679.2M
- Revenue (FY2025)
- $2.8B
- Revenue growth (10-yr CAGR)
- 12.4%
- ROIC (10-yr avg)
- 16.3%
- Free cash flow (FY2025)
- $89.5M
WGO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.8B | $25.7M | $0.91 | $89.5M | 2.0% | 2.9% |
| FY2024 | $3.0B | $13.0M | $0.44 | $98.9M | 3.4% | 3.0% |
| FY2023 | $3.5B | $215.9M | $6.23 | $211.3M | 8.6% | 14.2% |
| FY2022 | $5.0B | $390.6M | $11.84 | $312.7M | 11.8% | 32.1% |
| FY2021 | $3.6B | $281.9M | $8.28 | $192.4M | 11.2% | 27.6% |
| FY2020 | $2.4B | $61.4M | $1.84 | $238.1M | 4.8% | 9.4% |
| FY2019 | $2.0B | $111.8M | $3.52 | $92.9M | 7.8% | 14.9% |
| FY2018 | $2.0B | $102.4M | $3.22 | $54.7M | 8.0% | 15.3% |
| FY2017 | $1.5B | $71.3M | $2.32 | $83.1M | 8.1% | 19.0% |
| FY2016 | $975.2M | $45.5M | $1.68 | $28.2M | 6.7% | 24.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
WINNEBAGO INDUSTRIES INC is a consistent compounder, expanding top-line revenue at 12.4% annually over the past decade.
WINNEBAGO INDUSTRIES INC has earned high returns on invested capital, averaging 16.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, WINNEBAGO INDUSTRIES INC shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, WINNEBAGO INDUSTRIES INC is modeled at -6.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-3.67 per share.