NYSE:THO

Stock Analysis Report

Executive Summary

Thor Industries, Inc., through its subsidiaries, designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories primarily in the United States, Canada, and Europe.


Snowflake Analysis

Very undervalued with adequate balance sheet.


Similar Companies

Share Price & News

How has Thor Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: THO's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

19.0%

THO

17.4%

US Auto

9.9%

US Market


1 Year Return

-31.3%

THO

3.0%

US Auto

-11.9%

US Market

Return vs Industry: THO underperformed the US Auto industry which returned 4.7% over the past year.

Return vs Market: THO underperformed the US Market which returned -11.5% over the past year.


Shareholder returns

THOIndustryMarket
7 Day19.0%17.4%9.9%
30 Day-43.3%-23.1%-15.0%
90 Day-42.4%-13.8%-21.5%
1 Year-29.6%-31.3%6.0%3.0%-10.0%-11.9%
3 Year-53.0%-55.5%10.9%1.3%12.3%5.1%
5 Year-26.8%-33.0%11.7%-7.6%32.5%18.1%

Price Volatility Vs. Market

How volatile is Thor Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Thor Industries undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: THO ($42.82) is trading below our estimate of fair value ($168.98)

Significantly Below Fair Value: THO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: THO is good value based on its PE Ratio (11.5x) compared to the Auto industry average (11.5x).

PE vs Market: THO is good value based on its PE Ratio (11.5x) compared to the US market (13x).


Price to Earnings Growth Ratio

PEG Ratio: THO is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: THO is good value based on its PB Ratio (1.1x) compared to the US Auto industry average (1.9x).


Next Steps

Future Growth

How is Thor Industries forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

28.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: THO's forecast earnings growth (28.3% per year) is above the savings rate (1.7%).

Earnings vs Market: THO's earnings (28.3% per year) are forecast to grow faster than the US market (12.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: THO's revenue (1.8% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: THO's revenue (1.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if THO's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Thor Industries performed over the past 5 years?

1.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: THO has a large one-off loss of $87.2M impacting its January 31 2020 financial results.

Growing Profit Margin: THO's current net profit margins (2.3%) are lower than last year (3.2%).


Past Earnings Growth Analysis

Earnings Trend: THO's earnings have grown by 1.3% per year over the past 5 years.

Accelerating Growth: THO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: THO had negative earnings growth (-11.3%) over the past year, making it difficult to compare to the Auto industry average (-14.5%).


Return on Equity

High ROE: THO's Return on Equity (9.6%) is considered low.


Next Steps

Financial Health

How is Thor Industries's financial position?


Financial Position Analysis

Short Term Liabilities: THO's short term assets ($2.1B) exceed its short term liabilities ($1.5B).

Long Term Liabilities: THO's short term assets ($2.1B) exceed its long term liabilities ($2.0B).


Debt to Equity History and Analysis

Debt Level: THO's debt to equity ratio (83.2%) is considered high.

Reducing Debt: Insufficient data to determine if THO's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: THO's debt is well covered by operating cash flow (21.5%).

Interest Coverage: THO's interest payments on its debt are well covered by EBIT (4x coverage).


Balance Sheet

Inventory Level: THO has a high level of physical assets or inventory.

Debt Coverage by Assets: THO's debt is covered by short term assets (assets are 1.2x debt).


Next Steps

Dividend

What is Thor Industries's current dividend yield, its reliability and sustainability?

3.74%

Current Dividend Yield


Upcoming Dividend Payment

TodayMar 29 2020Ex Dividend DateApr 01 2020Dividend Pay DateApr 16 202015 days from Ex DividendBuy in the next 3 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: THO's dividend (3.74%) is higher than the bottom 25% of dividend payers in the US market (1.98%).

High Dividend: THO's dividend (3.74%) is low compared to the top 25% of dividend payers in the US market (5.45%).


Stability and Growth of Payments

Stable Dividend: THO's dividend payments have been volatile in the past 10 years.

Growing Dividend: THO's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (42.6%), THO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.4yrs

Average management tenure


CEO

Bob Martin (50yo)

6.58s

Tenure

US$9,048,728

Compensation

Mr. Robert W. Martin, also known as Bob, has been the Chief Executive Officer of Thor Industries Inc. since August 1, 2013 and serves as its President. Mr. Martin served as the President and Chief Operatin ...


CEO Compensation Analysis

Compensation vs Market: Bob's total compensation ($USD9.05M) is above average for companies of similar size in the US market ($USD5.51M).

Compensation vs Earnings: Bob's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Robert Martin
President6.58yrsUS$9.05m0.21% $4.9m
Peter Orthwein
Co-Founder & Chairman Emeritus0.58yrUS$1.42m3.56% $84.2m
Colleen Zuhl
Senior VP & CFO6.42yrsUS$2.44m0.046% $1.1m
Kenneth Julian
Senior Vice President of Administration & Human Resources5.58yrsUS$1.59m0.047% $1.1m
W. Woelfer
Senior VP7.58yrsUS$2.08m0.040% $943.6k
Mark Trinske
Vice President of Investor Relations1.33yrsno datano data
Renee Jones
Senior Director of Marketing0.67yrno datano data
Troy James
Senior Vice President of International Operations1.08yrsno data0.0069% $163.8k
Robert Wheeler
CEO & President of Airstream14.67yrsno datano data
Bruce Byots
Senior Director of Investor Relationsno datano datano data

6.4yrs

Average Tenure

52.5yo

Average Age

Experienced Management: THO's management team is seasoned and experienced (6.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Robert Martin
President6.58yrsUS$9.05m0.21% $4.9m
Peter Orthwein
Co-Founder & Chairman Emeritus0.58yrUS$1.42m3.56% $84.2m
James Ziemer
Independent Director9.25yrsUS$289.93k0.034% $805.3k
Andrew Graves
Independent Chairman0.58yrUS$289.93k0.022% $526.8k
Jan Suwinski
Independent Director20.67yrsUS$297.43k0.039% $910.5k
J. Kosowsky
Independent Director10yrsUS$287.43k0.022% $525.2k
Christopher Klein
Independent Director2.25yrsUS$269.93k0.0023% $54.1k
Wilson Jones
Independent Director5.58yrsUS$269.93k0.0095% $225.3k
Amelia Huntington
Independent Director1.42yrsUS$127.50kno data

5.6yrs

Average Tenure

60yo

Average Age

Experienced Board: THO's board of directors are considered experienced (5.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: THO insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.5%.


Top Shareholders

Company Information

Thor Industries, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Thor Industries, Inc.
  • Ticker: THO
  • Exchange: NYSE
  • Founded: 1980
  • Industry: Automobile Manufacturers
  • Sector: Automobiles
  • Market Cap: US$2.364b
  • Shares outstanding: 55.20m
  • Website: https://www.thorindustries.com

Number of Employees


Location

  • Thor Industries, Inc.
  • 601 East Beardsley Avenue
  • Elkhart
  • Indiana
  • 46514
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
THONYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1984
TIVDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1984
0LF8LSE (London Stock Exchange)YesCommon StockGBUSDJan 1984
TIVBRSE (Berne Stock Exchange)YesCommon StockCHCHFJan 1984

Biography

Thor Industries, Inc., through its subsidiaries, designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories primarily in the United States, Canada, and Europe. It operates in three segments: North American Towable Recreational Vehicles, North American Motorized Recreational Vehicles, and European Recreational Vehicles. The company offers travel trailers under the Airstream Classic, Globetrotter, Serenity, Flying Cloud, Caravel, Bambi, Basecamp, and Nest travel trade names, as well as Interstate and Atlas series of Class B motorhomes; and gasoline and diesel Class A and Class C motorhomes under the Four Winds, Freedom Elite, Majestic, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, and A.C.E trade names. It also provides conventional travel trailers and fifth wheels under the Montana, Springdale, Hideout, Sprinter, Outback, Laredo, Bullet, Fuzion, Raptor, Passport, Cougar, Coleman, Kodiak, Aspen Trail, Aerolite, Voltage, Cruiser, Volante, Sunset Trail, Zinger, Landmark, Bighorn, Elkridge, Trail Runner, North Trail, Cyclone, Torque, Prowler, Wilderness, Shadow Cruiser, Fun Finder, MPG, Radiance, Stryker, Escape, Sportsmen, Connect, Venom, Durango, Sportster, Stratus, SportTrek, Sonic, Jay Flight, Jay Feather, Eagle, Pinnacle, Talon,, Autumn Ridge, Telluride, Highlander, Mesa Ridge, and Open Range trade names; and luxury fifth wheels under the RV Mobile Suites trade names. In addition, the company offers equestrian recreational vehicle products with living quarters under the trade names, such as Premiere, Ranger, Laredo, Trail Boss, and Trail Hand. Further, it provides aluminum extrusion and specialized component products to RV and other manufacturers. The company markets its recreational vehicles through independent dealers. Thor Industries, Inc. was founded in 1980 and is based in Elkhart, Indiana. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/28 23:55
End of Day Share Price2020/03/27 00:00
Earnings2020/01/31
Annual Earnings2019/07/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.