LCI Industries (LCII) Balance Sheet
LCII balance sheet, 2025
December 31, 2025 · U.S. dollars$3.18B assets = $1.82B liabilities + $1.36B equity
Both columns are drawn to the same scale: what LCII owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LCII financial health
Descriptive bands, not a rating. Fiscal 2025.
LCII balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $786.0M2016 | $3.18B2025 | +16.8%/yr | |
| Total liabilities | $235.7M2016 | $1.82B2025 | +25.5%/yr | |
| Shareholders’ equity | $550.3M2016 | $1.36B2025 | +10.6%/yr | |
| Cash & short-term investments | $86.2M2016 | $222.6M2025 | +11.1%/yr | |
| Total debt | $49.9M2016 | $1.24B2025 | +42.8%/yr | |
| Net cash (debt) | $36.2M2016 | −$1.01B2025 | −$1.0B | |
| Working capital | $218.0M2016 | $876.3M2025 | +$658.3M | |
| Book value per share | $22.072016 | $54.752025 | +10.6%/yr | |
| Current ratio | 2.462016 | 2.852025 | +0.39 | |
| Debt / equity | 0.092016 | 0.912025 | +0.82 | |
| Shares outstanding | 24.9M2016 | 24.9M2025 | −0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LCII assets
LCII liabilities and equity
LCII debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LCII balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $222.6M | $165.8M | $66.2M | $47.5M | $62.9M | $51.8M | $35.4M | $14.9M | $26.0M | $86.2M |
| Cash & equivalents | $222.6M | $165.8M | $66.2M | $47.5M | $62.9M | $51.8M | $35.4M | $14.9M | $26.0M | $86.2M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $243.4M | $199.6M | $214.7M | $214.3M | $319.8M | $268.6M | $200.0M | $121.8M | $82.2M | $57.4M |
| Inventory | $809.1M | $736.6M | $768.4M | $1.03B | $1.10B | $493.9M | $393.6M | $340.6M | $274.7M | $188.7M |
| Other current assets | $74.6M | $58.3M | $67.6M | $99.3M | $88.3M | $55.5M | $41.8M | $49.3M | $34.1M | $35.1M |
| Total current assets | $1.35B | $1.16B | $1.12B | $1.39B | $1.57B | $869.8M | $670.8M | $526.7M | $417.1M | $367.4M |
| Property, plant & equipment (net) | $701.0M | $657.0M | $711.2M | $729.2M | $591.1M | $491.4M | $465.1M | $322.9M | $228.9M | $172.7M |
| Goodwill & intangible assets | $1.02B | $977.8M | $1.04B | $1.07B | $1.06B | $875.6M | $692.5M | $356.5M | $254.3M | $202.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $100.5M | $99.7M | $93.0M | $56.6M | $67.0M | $61.2M | $34.2M | $37.9M | $45.5M | $43.7M |
| Total assets | $3.18B | $2.89B | $2.96B | $3.25B | $3.29B | $2.30B | $1.86B | $1.24B | $945.9M | $786.0M |
| Liabilities | ||||||||||
| Accounts payable | $202.3M | $187.7M | $183.7M | $143.5M | $282.2M | $184.9M | $99.3M | $78.4M | $79.2M | $50.6M |
| Short-term debt | $47.9M | $39.1M | $36.9M | $58.5M | $101.6M | $43.3M | $39.6M | $596,000 | $49.9M | $49.9M |
| Deferred revenue | — | — | $36.3M | — | $170.5M | $118.7M | $89.6M | −$596,000 | — | — |
| Total current liabilities | $473.4M | $412.1M | $395.0M | $421.3M | $627.2M | $416.4M | $271.3M | $177.6M | $182.0M | $149.4M |
| Long-term debt | $941.5M | $756.8M | $846.8M | $1.10B | $1.23B | $720.4M | $612.9M | $293.5M | $49.9M | $49.9M |
| Lease obligations | $290.2M | $238.6M | $258.9M | $257.9M | $174.0M | $108.1M | $101.5M | — | — | — |
| Other long-term liabilities | $400.3M | $339.0M | $362.5M | $348.7M | $336.0M | $252.9M | $177.8M | $66.5M | $61.2M | $36.4M |
| Total liabilities | $1.82B | $1.51B | $1.60B | $1.87B | $2.20B | $1.39B | $1.06B | $537.6M | $293.1M | $235.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $289,000 | $288,000 | $287,000 | $285,000 | $284,000 | $282,000 | $281,000 | $280,000 | $277,000 | $274,000 |
| Retained earnings (deficit) | $1.28B | $1.21B | $1.18B | $1.22B | $930.8M | $731.7M | $644.9M | $563.5M | $475.5M | $395.3M |
| Treasury stock | — | — | — | −$82.2M | −$58.2M | −$58.2M | −$58.2M | −$58.2M | −$29.5M | −$29.5M |
| Accumulated other comprehensive income | $37.7M | $3.2M | $14.3M | $6.7M | −$501,000 | $7.1M | $1.1M | −$2.6M | $2.4M | −$1.8M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $1.36B | $1.39B | $1.36B | $1.38B | $1.09B | $908.3M | $800.7M | $706.3M | $652.7M | $550.3M |
| Key figures | ||||||||||
| Total debt | $1.24B | $995.9M | $1.11B | $1.38B | $1.48B | $846.4M | $732.3M | $294.1M | $49.9M | $49.9M |
| Net cash (debt) | −$1.01B | −$830.1M | −$1.04B | −$1.33B | −$1.41B | −$794.6M | −$697.0M | −$279.2M | −$23.9M | $36.2M |
| Working capital | $876.3M | $748.2M | $721.9M | $969.5M | $939.7M | $453.4M | $399.5M | $349.1M | $235.1M | $218.0M |
| Tangible book value | $336.1M | $409.1M | $316.7M | $310.6M | $29.7M | $32.7M | $108.1M | $349.7M | $398.4M | $348.1M |
| Book value per share | $54.75 | $54.37 | $53.27 | $54.13 | $42.98 | $35.97 | $31.91 | $27.74 | $25.72 | $22.07 |
| Shares outstanding | 24.9M | 25.5M | 25.4M | 25.5M | 25.4M | 25.3M | 25.1M | 25.5M | 25.4M | 24.9M |
| Current ratio | 2.85 | 2.82 | 2.83 | 3.30 | 2.50 | 2.09 | 2.47 | 2.97 | 2.29 | 2.46 |
| Quick ratio | 0.98 | 0.89 | 0.71 | 0.62 | 0.61 | 0.77 | 0.87 | 0.77 | 0.59 | 0.96 |
| Debt / equity | 0.91 | 0.72 | 0.82 | 1.00 | 1.35 | 0.93 | 0.91 | 0.42 | 0.08 | 0.09 |
| Equity / assets | 42.8% | 47.9% | 45.8% | 42.5% | 33.2% | 39.5% | 43.0% | 56.8% | 69.0% | 70.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $216.5M | $142.2M | $142.2M | $199.7M | $191.9M | $231.2M | $165.8M | $161.2M | $130.4M | $22.6M | $66.2M | $31.2M |
| Cash & equivalents | $216.5M | $142.2M | $142.2M | $199.7M | $191.9M | $231.2M | $165.8M | $161.2M | $130.4M | $22.6M | $66.2M | $31.2M |
| Receivables | $383.0M | $376.1M | $376.1M | $363.9M | $386.1M | $357.1M | $199.6M | $319.2M | $333.1M | $344.4M | $214.7M | $338.8M |
| Inventory | $769.0M | $834.5M | $834.5M | $741.3M | $710.3M | $717.4M | $736.6M | $705.4M | $687.9M | $734.4M | $768.4M | $791.9M |
| Other current assets | $116.2M | $67.1M | $67.1M | $64.3M | $70.0M | $61.3M | $58.3M | $59.1M | $67.6M | $68.1M | $67.6M | $68.7M |
| Total current assets | $1.48B | $1.42B | $1.42B | $1.37B | $1.36B | $1.37B | $1.16B | $1.24B | $1.22B | $1.17B | $1.12B | $1.23B |
| Property, plant & equipment (net) | $690.0M | $691.8M | $691.8M | $666.3M | $672.9M | $650.9M | $657.0M | $676.6M | $687.8M | $696.5M | $460.1M | $706.3M |
| Goodwill & intangible assets | $992.0M | $1.01B | $1.01B | $1.03B | $1.04B | $983.8M | $977.8M | $1.01B | $1.01B | $1.02B | $1.04B | $1.04B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $101.2M | $99.1M | $99.1M | $102.2M | $101.1M | $98.3M | $99.7M | $96.8M | $94.9M | $94.8M | $344.0M | $54.6M |
| Total assets | $3.27B | $3.22B | $3.22B | $3.17B | $3.17B | $3.10B | $2.89B | $3.02B | $3.01B | $2.98B | $2.96B | $3.03B |
| Liabilities | ||||||||||||
| Accounts payable | $208.9M | $211.5M | $211.5M | $220.7M | $228.1M | $220.8M | $187.7M | $193.6M | $202.6M | $193.9M | $183.7M | $198.9M |
| Short-term debt | $48.9M | — | $48.6M | $43.9M | $43.1M | $41.2M | $39.1M | $39.3M | $39.2M | $37.9M | $36.9M | $34.6M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | $125.6M | — | — |
| Total current liabilities | $597.2M | $488.0M | $488.0M | $492.2M | $484.3M | $461.3M | $412.1M | $432.0M | $432.5M | $409.0M | $395.0M | $414.0M |
| Long-term debt | $848.9M | $941.3M | $941.5M | $944.2M | $944.3M | $934.6M | $756.8M | $822.3M | $829.2M | $854.8M | $846.8M | $908.2M |
| Lease obligations | $293.6M | $290.3M | $290.2M | $251.7M | $255.1M | $237.3M | $238.6M | $247.0M | $253.1M | $255.6M | $258.9M | $245.9M |
| Other long-term liabilities | $390.0M | $400.3M | $400.1M | $370.6M | $360.4M | $337.4M | $339.0M | $352.3M | $355.9M | $360.6M | $362.5M | $339.4M |
| Total liabilities | $1.84B | $1.83B | $1.83B | $1.81B | $1.79B | $1.73B | $1.51B | $1.61B | $1.62B | $1.62B | $1.60B | $1.66B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $290,000 | — | $290,000 | $289,000 | $289,000 | $289,000 | $288,000 | $288,000 | $288,000 | $288,000 | $287,000 | $287,000 |
| Retained earnings (deficit) | $1.35B | $1.31B | $1.31B | $1.29B | $1.26B | $1.23B | $1.21B | $1.23B | $1.22B | $1.19B | $1.18B | $1.21B |
| Accumulated other comprehensive income | $28.8M | — | $30.4M | $35.1M | $35.9M | $13.7M | $3.2M | $19.6M | $9.2M | $11.0M | $14.3M | $6.6M |
| Total shareholders' equity | $1.43B | $1.39B | $1.39B | $1.36B | $1.39B | $1.37B | $1.39B | $1.42B | $1.39B | $1.36B | $1.36B | $1.37B |
| Key figures | ||||||||||||
| Total debt | $1.15B | $941.3M | $1.24B | $1.20B | $1.20B | $1.18B | $995.9M | $1.07B | $1.08B | $1.11B | $1.11B | $1.15B |
| Net cash (debt) | −$929.7M | −$799.1M | −$1.09B | −$999.8M | −$1.01B | −$944.3M | −$830.1M | −$908.3M | −$952.4M | −$1.09B | −$1.04B | −$1.12B |
| Working capital | $887.5M | $931.9M | $931.9M | $877.0M | $873.9M | $905.8M | $748.2M | $812.9M | $786.5M | $760.4M | $721.9M | $816.6M |
| Tangible book value | $439.8M | $381.2M | $381.2M | $330.7M | $343.2M | $383.0M | $409.1M | $411.6M | $384.2M | $336.4M | $316.7M | $329.8M |
| Book value per share | $58.70 | $57.12 | $55.68 | $55.66 | $55.06 | $53.75 | $54.18 | $55.49 | $54.67 | $53.44 | $53.47 | $53.80 |
| Shares outstanding | 24.4M | 24.3M | 24.9M | 24.5M | 25.2M | 25.4M | 25.6M | 25.6M | 25.5M | 25.4M | 25.3M | 25.5M |
| Current ratio | 2.49 | 2.91 | 2.91 | 2.78 | 2.80 | 2.96 | 2.82 | 2.88 | 2.82 | 2.86 | 2.83 | 2.97 |
| Quick ratio | 1.00 | 1.06 | 1.06 | 1.15 | 1.19 | 1.28 | 0.89 | 1.11 | 1.07 | 0.90 | 0.71 | 0.89 |
| Debt / equity | 0.80 | 0.68 | 0.89 | 0.88 | 0.87 | 0.86 | 0.72 | 0.75 | 0.78 | 0.82 | 0.82 | 0.84 |
| Equity / assets | 43.8% | 43.1% | 43.1% | 43.0% | 43.6% | 44.1% | 47.9% | 46.9% | 46.3% | 45.5% | 45.8% | 45.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
LCII financial position
At the end of fiscal 2025 (December 31, 2025), LCI Industries had total assets of $3.2 billion (up 9.7% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $1.4 billion. It held $222.6 million in cash and short-term investments against $1.2 billion of debt, net debt of $1.0 billion. Its current ratio was 2.85. In the latest quarter (ended June 30, 2026) total assets were $3.3 billion and equity $1.4 billion.
Related: LCII income statement, LCII cash flow statement, LCII key metrics. See the LCII stock overview for the latest quote and news.
LCII balance sheet FAQ
What are LCI Industries's total assets?
LCI Industries reported total assets of $3.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.9 billion a year earlier.
How much debt does LCI Industries have?
LCI Industries had $1.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.91.
How much cash does LCI Industries have?
LCI Industries held $222.6 million in cash and short-term investments at the end of fiscal 2025; with $1.2 billion of debt that is net debt of $1.0 billion.
What is LCI Industries's book value?
LCI Industries's shareholders' equity (book value) was $1.4 billion at the end of fiscal 2025, or $54.75 per share.
What is LCI Industries's current ratio?
LCI Industries had current assets of $1.3 billion and current liabilities of $473.4 million, a current ratio of 2.85 (it can cover its short-term obligations).
How much goodwill does LCI Industries have?
LCI Industries carried $1.0 billion of goodwill and intangible assets, 32.3% of total assets, at the end of fiscal 2025.