Loading...

Thor Industries

NYSE:THO
Snowflake Description

Good value with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
THO
NYSE
$3B
Market Cap
  1. Home
  2. US
  3. Automobiles
Company description

Thor Industries, Inc., through its subsidiaries, designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories primarily in the United States and Canada. The last earnings update was 36 days ago. More info.


Add to Portfolio Compare Print
THO Share Price and Events
7 Day Returns
5.7%
NYSE:THO
4%
US Auto
1.1%
US Market
1 Year Returns
-41.1%
NYSE:THO
-7%
US Auto
4.7%
US Market
THO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Thor Industries (THO) 5.7% 10% -16% -41.1% -19% 11.3%
US Auto 4% 10.8% 1.6% -7% 15.3% -14%
US Market 1.1% 4.3% 2.9% 4.7% 37.7% 43.6%
1 Year Return vs Industry and Market
  • THO underperformed the Auto industry which returned -7% over the past year.
  • THO underperformed the Market in United States of America which returned 4.7% over the past year.
Price Volatility
THO
Industry
5yr Volatility vs Market

Value

 Is Thor Industries undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Thor Industries to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Thor Industries.

NYSE:THO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:THO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Auto Unlevered Beta Simply Wall St/ S&P Global 0.62
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.625 (1 + (1- 21%) (73.87%))
0.993
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.993 * 5.96%)
8.65%

Discounted Cash Flow Calculation for NYSE:THO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Thor Industries is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:THO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.65%)
2020 490.43 Analyst x2 451.40
2021 507.01 Analyst x1 429.52
2022 522.97 Est @ 3.15% 407.78
2023 538.77 Est @ 3.02% 386.67
2024 554.59 Est @ 2.93% 366.34
2025 570.52 Est @ 2.87% 346.87
2026 586.67 Est @ 2.83% 328.30
2027 603.09 Est @ 2.8% 310.63
2028 619.85 Est @ 2.78% 293.85
2029 636.99 Est @ 2.76% 277.94
Present value of next 10 years cash flows $3,599.29
NYSE:THO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $636.99 × (1 + 2.73%) ÷ (8.65% – 2.73%)
$11,059.37
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $11,059.37 ÷ (1 + 8.65%)10
$4,825.63
NYSE:THO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,599.29 + $4,825.63
$8,424.92
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $8,424.92 / 55.06
$153
NYSE:THO Discount to Share Price
Calculation Result
Value per share (USD) From above. $153.00
Current discount Discount to share price of $59.67
= -1 x ($59.67 - $153.00) / $153.00
61%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Thor Industries is available for.
Intrinsic value
>50%
Share price is $59.67 vs Future cash flow value of $153
Current Discount Checks
For Thor Industries to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Thor Industries's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Thor Industries's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Thor Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Thor Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:THO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-04-30) in USD $2.43
NYSE:THO Share Price ** NYSE (2019-07-16) in USD $59.67
United States of America Auto Industry PE Ratio Median Figure of 6 Publicly-Listed Auto Companies 12.84x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Thor Industries.

NYSE:THO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:THO Share Price ÷ EPS (both in USD)

= 59.67 ÷ 2.43

24.58x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thor Industries is overvalued based on earnings compared to the US Auto industry average.
  • Thor Industries is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Thor Industries's expected growth come at a high price?
Raw Data
NYSE:THO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
47.6%per year
United States of America Auto Industry PEG Ratio Median Figure of 6 Publicly-Listed Auto Companies 1.69x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

NYSE:THO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 24.58x ÷ 47.6%

0.52x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thor Industries is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Thor Industries's assets?
Raw Data
NYSE:THO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-04-30) in USD $36.84
NYSE:THO Share Price * NYSE (2019-07-16) in USD $59.67
United States of America Auto Industry PB Ratio Median Figure of 11 Publicly-Listed Auto Companies 5.18x
United States of America Market PB Ratio Median Figure of 5,240 Publicly-Listed Companies 1.81x
NYSE:THO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:THO Share Price ÷ Book Value per Share (both in USD)

= 59.67 ÷ 36.84

1.62x

* Primary Listing of Thor Industries.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thor Industries is good value based on assets compared to the US Auto industry average.
X
Value checks
We assess Thor Industries's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto industry average (and greater than 0)? (1 check)
  5. Thor Industries has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Thor Industries expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
47.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Thor Industries expected to grow at an attractive rate?
  • Thor Industries's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Thor Industries's earnings growth is expected to exceed the United States of America market average.
  • Thor Industries's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:THO Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:THO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 47.6%
NYSE:THO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 12.3%
United States of America Auto Industry Earnings Growth Rate Market Cap Weighted Average 22.8%
United States of America Auto Industry Revenue Growth Rate Market Cap Weighted Average 7.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:THO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:THO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-07-31 9,333 623 380 2
2020-07-31 9,535 483 350 10
2019-07-31 8,006 320 170 10
NYSE:THO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-04-30 7,427 445 129
2019-01-31 7,172 544 231
2018-10-31 7,853 437 316
2018-07-31 8,329 467 430
2018-04-30 8,389 434 461
2018-01-31 8,153 423 439
2017-10-31 7,770 431 424
2017-07-31 7,247 419 374
2017-04-30 6,605 379 338
2017-01-31 5,874 342 306
2016-10-31 5,260 324 286
2016-07-31 4,582 341 258

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Thor Industries's earnings are expected to grow significantly at over 20% yearly.
  • Thor Industries's revenue is expected to grow by 12.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:THO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Thor Industries Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:THO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-07-31 6.84 7.32 6.35 2.00
2020-07-31 6.24 7.20 5.49 5.00
2019-07-31 3.08 5.07 2.15 4.00
NYSE:THO Past Financials Data
Date (Data in USD Millions) EPS *
2019-04-30 2.43
2019-01-31 4.37
2018-10-31 5.99
2018-07-31 8.17
2018-04-30 8.76
2018-01-31 8.34
2017-10-31 8.06
2017-07-31 7.12
2017-04-30 6.43
2017-01-31 5.82
2016-10-31 5.45
2016-07-31 4.92

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Thor Industries is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Thor Industries's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Thor Industries has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Thor Industries performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Thor Industries's growth in the last year to its industry (Auto).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Thor Industries's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Thor Industries's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Thor Industries's 1-year earnings growth is negative, it can't be compared to the US Auto industry average.
Earnings and Revenue History
Thor Industries's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Thor Industries Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:THO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-04-30 7,427.25 129.43 471.39
2019-01-31 7,172.23 230.53 413.86
2018-10-31 7,853.22 315.70 445.87
2018-07-31 8,328.91 430.15 477.44
2018-04-30 8,389.47 461.41 480.25
2018-01-31 8,153.12 438.89 471.92
2017-10-31 7,770.09 423.92 451.80
2017-07-31 7,246.95 374.25 419.85
2017-04-30 6,604.92 337.64 400.02
2017-01-31 5,873.75 305.57 369.73
2016-10-31 5,260.29 286.03 340.13
2016-07-31 4,582.11 258.02 306.27
2016-04-30 4,347.63 244.17 286.31
2016-01-31 4,237.83 228.52 274.42
2015-10-31 4,115.18 213.54 261.36
2015-07-31 4,006.82 202.01 250.89
2015-04-30 3,992.00 199.80 240.88
2015-01-31 3,864.57 191.37 228.90
2014-10-31 3,647.49 178.32 218.36
2014-07-31 3,525.46 175.52 208.71
2014-04-30 3,396.12 163.93 202.80
2014-01-31 3,279.06 157.52 198.42
2013-10-31 3,280.33 159.32 196.29
2013-07-31 3,241.80 151.68 193.54
2013-04-30 2,771.16 130.54 166.39
2013-01-31 2,767.86 123.17 160.79
2012-10-31 2,728.22 117.83 155.40
2012-07-31 2,639.80 111.44 148.26

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Thor Industries has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Thor Industries used its assets less efficiently than the US Auto industry average last year based on Return on Assets.
  • Thor Industries's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Thor Industries's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Thor Industries has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Thor Industries's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Thor Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Thor Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Thor Industries's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Thor Industries's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Thor Industries Company Filings, last reported 2 months ago.

NYSE:THO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-04-30 2,039.53 2,427.16 461.11
2019-01-31 1,906.93 0.00 305.83
2018-10-31 1,928.35 0.00 224.92
2018-07-31 1,937.74 0.00 275.25
2018-04-30 1,865.63 80.00 147.02
2018-01-31 1,747.93 80.00 109.78
2017-10-31 1,684.11 90.00 151.46
2017-07-31 1,576.54 145.00 223.26
2017-04-30 1,471.96 295.00 189.41
2017-01-31 1,375.56 325.00 134.66
2016-10-31 1,325.65 340.00 161.71
2016-07-31 1,265.22 360.00 209.90
2016-04-30 1,196.19 0.00 247.30
2016-01-31 1,131.39 0.00 185.37
2015-10-31 1,100.37 0.00 179.32
2015-07-31 1,065.19 0.00 183.48
2015-04-30 1,068.78 0.00 259.42
2015-01-31 1,018.65 0.00 248.26
2014-10-31 1,002.77 0.00 313.63
2014-07-31 977.70 0.00 289.34
2014-04-30 921.40 0.00 120.94
2014-01-31 877.42 0.00 204.86
2013-10-31 872.08 0.00 294.98
2013-07-31 892.61 0.00 236.60
2013-04-30 838.69 0.00 137.49
2013-01-31 803.91 0.00 108.14
2012-10-31 873.62 0.00 214.50
2012-07-31 850.83 0.00 218.64
  • Thor Industries's level of debt (119%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 119% today).
  • Debt is not well covered by operating cash flow (18.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.9x coverage).
X
Financial health checks
We assess Thor Industries's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Thor Industries has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.61%
Current annual income from Thor Industries dividends. Estimated to be 2.65% next year.
If you bought $2,000 of Thor Industries shares you are expected to receive $52 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Thor Industries's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.42%).
  • Thor Industries's dividend is below the markets top 25% of dividend payers in United States of America (3.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:THO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United States of America Auto Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:THO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-07-31 1.60 2.00
2020-07-31 1.59 4.00
2019-07-31 1.56 4.00
NYSE:THO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-17 1.560 2.713
2019-03-21 1.560 2.571
2018-12-13 1.560 2.560
2018-10-11 1.560 2.275
2018-06-18 1.480 1.572
2018-03-15 1.480 1.419
2017-12-11 1.480 1.067
2017-10-10 1.480 1.086
2017-06-08 1.320 1.215
2017-03-16 1.320 1.399
2016-12-08 1.320 1.262
2016-10-10 1.320 1.546
2016-06-08 1.200 1.599
2016-03-17 1.200 1.890
2015-12-08 1.200 2.223
2015-10-01 1.200 2.175
2015-06-11 1.080 1.958
2015-03-20 1.080 1.756
2014-12-09 1.080 1.865
2014-10-03 1.080 2.014
2014-05-30 1.920 3.521
2014-03-14 1.920 3.169
2013-12-10 1.920 3.541
2013-10-04 1.920 3.463
2013-06-06 0.720 1.388
2013-03-25 0.720 1.870
2012-12-11 0.720 1.867
2012-09-10 0.720 1.913
2012-03-19 0.600 1.982
2011-12-14 0.600 2.007
2011-08-10 0.600 2.603
2011-06-10 0.400 1.548
2011-03-28 0.400 1.279
2010-12-16 0.400 1.171
2010-10-01 0.400 1.231
2010-09-29 0.280 0.836
2010-09-28 0.280 0.908
2010-07-01 0.280 1.069
2010-06-10 0.280 1.121
2010-03-09 0.280 0.876
2010-03-08 0.280 0.810
2009-10-05 0.280 0.904
2009-09-29 0.280 0.922
2009-06-12 0.280 1.237
2009-06-10 0.280 1.255
2009-06-09 0.280 1.280
2009-03-09 0.280 1.609
2008-12-01 0.280 2.319
2008-09-29 2.280 13.019

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Thor Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.2x coverage).
X
Income/ dividend checks
We assess Thor Industries's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Thor Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Thor Industries has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Thor Industries's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bob Martin
COMPENSATION $14,993,153
AGE 50
TENURE AS CEO 5.9 years
CEO Bio

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 Operating Officer of Thor Industries Inc. from August 1, 2012 to July 2013. Mr. Martin served as the President of Recreation Vehicle Group at Thor Industries Inc. from February 1, 2012 to August 1, 2013. Previously, he served as the Chief Operating Officer and Executive Vice President of Keystone RV Company, Inc. He served as the President of Keystone RV of Thor Industries Inc. since January 2010 until January 2012. He served as an Executive Vice President of Keystone RV. He has been a Director at Thor Industries Inc. since August 1, 2013.

CEO Compensation
  • Bob's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bob's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Thor Industries management team in years:

5.8
Average Tenure
52.5
Average Age
  • The average tenure for the Thor Industries management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Peter Orthwein

TITLE
Co-Founder & Executive Chairman of the Board
COMPENSATION
$2M
AGE
74
TENURE
39.5 yrs

Bob Martin

TITLE
President
COMPENSATION
$15M
AGE
50
TENURE
5.9 yrs

Colleen Zuhl

TITLE
Senior VP & CFO
COMPENSATION
$4M
AGE
53
TENURE
5.8 yrs

Ken Julian

TITLE
Senior Vice President of Administration & Human Resources
COMPENSATION
$2M
AGE
52
TENURE
4.9 yrs

W. Woelfer

TITLE
Senior VP
COMPENSATION
$3M
AGE
52
TENURE
6.9 yrs

Mark Trinske

TITLE
Vice President of Investor Relations
TENURE
0.7 yrs

James Rigney

TITLE
Senior Director of Marketing

Troy James

TITLE
Senior Vice President of International Operations
TENURE
0.4 yrs

Bob Wheeler

TITLE
CEO & President of Airstream
TENURE
14 yrs

Bruce Byots

TITLE
Senior Director of Investor Relations
AGE
61
Board of Directors Tenure

Average tenure and age of the Thor Industries board of directors in years:

5.9
Average Tenure
60
Average Age
  • The tenure for the Thor Industries board of directors is about average.
Board of Directors

Peter Orthwein

TITLE
Co-Founder & Executive Chairman of the Board
COMPENSATION
$2M
AGE
74
TENURE
5.9 yrs

Bob Martin

TITLE
President
COMPENSATION
$15M
AGE
50
TENURE
5.9 yrs

J. Kosowsky

TITLE
Independent Director
COMPENSATION
$308K
AGE
71
TENURE
9.3 yrs

Jim Ziemer

TITLE
Independent Director
COMPENSATION
$318K
AGE
69
TENURE
8.6 yrs

Andrew Graves

TITLE
Independent Director
COMPENSATION
$308K
AGE
60
TENURE
8.6 yrs

Jan Suwinski

TITLE
Lead Independent Director
COMPENSATION
$328K
AGE
78
TENURE
5.6 yrs

Wilson Jones

TITLE
Independent Director
COMPENSATION
$298K
AGE
58
TENURE
4.9 yrs

Chris Klein

TITLE
Independent Director
COMPENSATION
$85K
AGE
55
TENURE
1.6 yrs

Amelia Huntington

TITLE
Independent Director
AGE
53
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Thor Industries individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
09. Jul 19 Buy James Ziemer Individual 08. Jul 19 08. Jul 19 3,545 $57.23 $202,880
12. Dec 18 Buy J. Kosowsky Individual 11. Dec 18 11. Dec 18 2,000 $59.17 $118,340
12. Dec 18 Buy Jan Suwinski Individual 10. Dec 18 11. Dec 18 2,000 $58.62 $116,390
11. Oct 18 Buy James Ziemer Individual 09. Oct 18 09. Oct 18 5,000 $81.74 $408,700
X
Management checks
We assess Thor Industries's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Thor Industries has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Does Thor Industries, Inc.'s (NYSE:THO) P/E Ratio Tell You?

The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Thor Industries: P/E of 23.98 = $58.22 ÷ $2.43 (Based on the year to April 2019.) Is A High Price-to-Earnings Ratio Good? … All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' How Growth Rates Impact P/E Ratios Companies that shrink earnings per share quickly will rapidly decrease the 'E' in the equation. … Thor Industries shrunk earnings per share by 72% over the last year.

Simply Wall St -

Is Thor Industries, Inc.'s (NYSE:THO) ROE Of 6.3% Concerning?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Thor Industries: 6.3% = US$129m ÷ US$2.0b (Based on the trailing twelve months to April 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Thor Industries Have A Good Return On Equity? … Combining Thor Industries's Debt And Its 6.3% Return On Equity It's worth noting the significant use of debt by Thor Industries, leading to its debt to equity ratio of 1.19.

Simply Wall St -

Why You Should Like Thor Industries, Inc.’s (NYSE:THO) ROCE

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Thor Industries: 0.22 = US$443m ÷ (US$2.7b - US$751m) (Based on the trailing twelve months to January 2019.) So, Thor Industries has an ROCE of 22%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise. … Our Take On Thor Industries's ROCE This is good to see, and with such a high ROCE, Thor Industries may be worth a closer look.

Simply Wall St -

Why Thor Industries, Inc. (NYSE:THO) Is A Star In A Falling Market

Characteristics I value in a long term investment are proven in Thor Industries, and I can continue to sleep easy at night with the stock as part of my portfolio. … Thor Industries tick the boxes in terms of its scale, financial health and proven track record, but there are a few other things I have yet to consider. … The intrinsic value infographic in our free research report helps visualize whether THO is currently mispriced by the market.

Simply Wall St -

Should You Take Comfort From Insider Transactions At Thor Industries, Inc. (NYSE:THO)?

In the last twelve months, the biggest single purchase by an insider was when Independent Director James Ziemer bought US$409k worth of shares at a price of US$81.74 per share. … That means that even when the share price was higher than US$67.16 (the recent price), an insider wanted to purchase shares … Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.

Simply Wall St -

Does Thor Industries, Inc. (NYSE:THO) Have A Particularly Volatile Share Price?

(NYSE:THO), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Is It Time To Consider Buying Thor Industries, Inc. (NYSE:THO)?

received a lot of attention from a substantial price increase on the NYSE over the last few months. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine Thor Industries’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

A Closer Look At Thor Industries, Inc.'s (NYSE:THO) Uninspiring ROE

To keep the lesson grounded in practicality, we'll use ROE to better understand Thor Industries, Inc. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.12 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Thor Industries, Inc. (NYSE:THO) Earns Among The Best Returns In Its Industry

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Buy Thor Industries, Inc. (NYSE:THO) When Everyone Panics

Today I want to bring to light the market's darling - Thor Industries, Inc.. … Looking at its size, financial health and track record, I believe there's an opportunity with Thor Industries during these volatile times. … See our latest analysis for Thor Industries.

Simply Wall St -

Company Info

Description

Thor Industries, Inc., through its subsidiaries, designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories primarily in the United States and Canada. It operates in two segments, Towable Recreational Vehicles and Motorized Recreational Vehicles. The company offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, Basecamp, and Nest travel trade names, as well as Interstate 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, Venom, Durango, SportTrek, Connect, Sportster, Sonic, Jay Flight, Jay Feather, Eagle, Pinnacle, Talon, Launch, Autumn Ridge, Telluride, Highlander, Mesa Ridge, and Open Range trade names; and luxury fifth wheels under the Redwood and DRV Mobile Suites trade names. In addition, the company offers equestrian recreational vehicle products with living quarters under the trade names, such as Premiere, Silverado, 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.

Details
Name: Thor Industries, Inc.
THO
Exchange: NYSE
Founded: 1980
$3,285,637,433
55,063,473
Website: http://www.thorindustries.com
Address: Thor Industries, Inc.
601 East Beardsley Avenue,
Elkhart,
Indiana, 46514,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE THO Common Stock New York Stock Exchange US USD 10. Jan 1984
DB TIV Common Stock Deutsche Boerse AG DE EUR 10. Jan 1984
LSE 0LF8 Common Stock London Stock Exchange GB USD 10. Jan 1984
Number of employees
Current staff
Staff numbers
17,500
Thor Industries employees.
Industry
Automobile Manufacturers
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 23:44
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/06/10
Last earnings reported: 2019/04/30
Last annual earnings reported: 2018/07/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.