# Thor Industries Inc. (THO)

**Exchange:** NYSE  
**Sector:** Consumer Cyclical  
**Market cap:** $4.10B  
**Price:** $76.73 (+2.53%)

> Thor Industries designs, manufactures, and sells recreational vehicles (RVs) and related products across North America and Europe. The company operates through three primary segments: North American Towable Recreational Vehicles, North American Motorized Recreational Vehicles, and European Recreational Vehicles. Its North American towable portfolio includes brands such as Airstream, Heartland, Jayco, Keystone, and KZ, offering travel trailers and fifth wheels. The motorized segment produces Class A, Class B, and Class C motorhomes in gasoline and diesel variants. Through its European operations, including the Erwin Hymer division acquired in 2019, Thor manufactures motorcaravans, camper vans, urban vehicles, and caravans for international markets. The company distributes its products through a network of dealers and retailers, serving recreational vehicle enthusiasts and travelers worldwide. Thor also provides associated parts, accessories, and related services to support its diverse RV customer base.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $9.58B | $1.34B | — | $259M | $4.84 |
| 2024 | $10.04B | $1.45B | — | $265M | $4.94 |
| 2023 | $11.12B | $1.60B | — | $374M | $6.95 |
| 2022 | $16.31B | $2.81B | — | $1.14B | $20.59 |
| 2021 | $12.32B | $1.89B | — | $660M | $11.85 |
| 2020 | $8.17B | $1.12B | — | $223M | $4.02 |
| 2019 | $7.86B | $973M | — | $133M | $2.47 |
| 2018 | $8.33B | $1.16B | — | $430M | $8.14 |
| 2017 | $7.25B | $1.04B | — | $374M | $7.09 |
| 2016 | $4.58B | $726M | — | $257M | $4.88 |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $7.07B | $2.78B | $4.29B | $587M | $923M |
| 2024 | $7.02B | $2.95B | $4.07B | $501M | $1.13B |
| 2023 | $7.26B | $3.28B | $3.98B | $441M | $1.30B |
| 2022 | $7.41B | $3.82B | $3.59B | $312M | $1.77B |
| 2021 | $6.65B | $3.73B | $2.92B | $446M | $1.61B |
| 2020 | $5.77B | $3.45B | $2.32B | $539M | $1.67B |
| 2019 | $5.66B | $3.58B | $2.08B | $426M | $1.90B |
| 2018 | $2.78B | $841M | $1.94B | $275M | — |
| 2017 | $2.56B | $981M | $1.58B | $223M | — |
| 2016 | $2.33B | $1.06B | $1.27B | $210M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $578M | — | — |
| 2024 | $546M | — | — |
| 2023 | $982M | — | — |
| 2022 | $990M | — | — |
| 2021 | $526M | — | — |
| 2020 | $541M | — | — |
| 2019 | $508M | — | — |
| 2018 | $467M | $138M | $328M |
| 2017 | $419M | $115M | $304M |
| 2016 | $341M | $52M | $289M |
| 2015 | $248M | $42M | $206M |
| 2014 | $149M | $30M | $119M |
| 2013 | $145M | $24M | $121M |
| 2012 | $119M | $10M | $109M |
| 2011 | $115M | $34M | $81M |

Source: [CompaniesByCap](https://companiesbycap.com/company/THO)