Thor Industries, Inc. (THO) Income Statement
THO FY2026 at a glance
Fiscal year ended July 31, 2026 · U.S. dollarsTHO revenue and net income
Where THO's revenue goes
FY2026Each bar shows an amount and its share of revenue. THO kept 1.8% of revenue as net income.
THO profit margins
THO growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.3% | −4.8% | −4.8% | +7.7% |
| Gross profit | +1.3% | −5.9% | −7.1% | +5.7% |
| Operating income | −34.2% | −30.4% | −26.3% | −6.6% |
| Net income | −31.3% | −22.0% | −23.1% | −3.6% |
| EPS (diluted) | −30.1% | −21.3% | −22.1% | −3.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
THO quarterly EPS vs estimates
Thor Industries beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: December 2, 2026 (estimate $0.17).
THO income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.61B | $9.58B | $10.04B | $11.12B | $16.31B | $12.32B | $8.17B | $7.86B | $8.33B | $7.25B |
| Cost of revenue | $8.40B | $8.38B | $8.46B | $9.67B | $13.32B | $10.56B | $7.16B | $6.98B | $6.96B | $6.27B |
| Gross profit | $1.21B | $1.20B | $1.59B | $1.46B | $2.99B | $1.76B | $1.01B | $889.0M | $1.36B | $973.9M |
| Research & development | — | $48.6M | $49.4M | $36.6M | $39.0M | $26.8M | $19.1M | $9.4M | $2.0M | $2.6M |
| Sales, general & admin | — | $837.5M | $895.5M | $803.9M | $1.12B | $825.3M | $567.1M | $497.4M | $477.4M | $394.9M |
| Total operating expenses | $1.02B | $897.1M | $1.16B | $870.1M | $1.46B | $847.5M | $619.1M | $527.7M | $732.3M | $414.1M |
| Operating income | $197.1M | $299.6M | $424.8M | $585.0M | $1.53B | $907.9M | $387.2M | $361.3M | $632.1M | $559.8M |
| Interest income | — | — | — | — | $1.1M | $797,000 | $3.1M | $8.1M | $2.1M | $923,000 |
| Interest expense | $36.8M | $48.4M | $88.7M | $97.4M | $91.2M | $94.3M | $107.3M | $68.1M | $5.2M | $9.7M |
| Income before taxes | $238.7M | $296.2M | $348.8M | $499.4M | $1.46B | $844.6M | $272.9M | $184.7M | $633.0M | $556.4M |
| Income taxes | $64.1M | $39.6M | $83.4M | $125.1M | $321.6M | $183.7M | $51.5M | $52.2M | $202.9M | $182.1M |
| Net income | $177.5M | $258.6M | $265.3M | $374.3M | $1.14B | $659.9M | $223.0M | $133.3M | $430.2M | $374.3M |
| EBITDA | $541.9M | $615.8M | $714.7M | $873.7M | $1.84B | $1.17B | $583.4M | $510.1M | $725.3M | $658.1M |
| EPS (diluted) | $3.39 | $4.85 | $4.93 | $6.95 | $20.60 | $11.84 | $4.16 | $5.28 | $8.14 | $7.09 |
| Gross margin | 12.6% | 12.5% | 15.8% | 13.1% | 18.3% | 14.3% | 12.3% | 11.3% | 16.4% | 13.4% |
| Operating margin | 2.1% | 3.1% | 4.2% | 5.3% | 9.4% | 7.4% | 4.7% | 4.6% | 7.6% | 7.7% |
| Net margin | 1.8% | 2.7% | 2.6% | 3.4% | 7.0% | 5.4% | 2.7% | 1.7% | 5.2% | 5.2% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.31B | $2.78B | $2.13B | $2.39B | $2.52B | $2.89B | $2.02B | $2.14B | $2.53B | $2.80B | $2.21B | $2.50B |
| Cost of revenue | $1.97B | $2.43B | $1.90B | $2.10B | $2.18B | $2.41B | $1.75B | $1.83B | $2.10B | $2.33B | $1.90B | $2.10B |
| Gross profit | $341.3M | $354.8M | $223.5M | $293.1M | $340.6M | $482.2M | $267.8M | $313.8M | $431.8M | $474.1M | $305.1M | $399.9M |
| Research & development | — | — | — | — | $48.6M | — | — | — | $49.4M | — | — | — |
| Sales, general & admin | — | $230.9M | $212.0M | $254.0M | $159.6M | $238.3M | $206.2M | $240.2M | $231.0M | $226.5M | $220.1M | $217.9M |
| Total operating expenses | $290.8M | $258.7M | $212.0M | $254.0M | $237.9M | $306.9M | $258.1M | $301.9M | $296.2M | $310.8M | $286.6M | $292.3M |
| Operating income | $50.5M | $96.0M | $11.4M | $39.1M | $102.7M | $175.3M | $9.7M | $11.9M | $135.5M | $163.3M | $18.5M | $107.5M |
| Interest expense | $8.8M | $9.7M | $9.4M | $9.0M | $10.1M | $11.2M | $11.9M | $15.2M | $18.4M | $21.8M | $28.0M | $20.2M |
| Income before taxes | $51.8M | $133.5M | $21.0M | $32.5M | $143.4M | $155.6M | −$1.6M | −$1.2M | $127.0M | $142.3M | $6.9M | $72.6M |
| Income taxes | $10.5M | $37.9M | $6.4M | $9.3M | $16.7M | $21.7M | $1.5M | −$283,000 | $35.6M | $28.8M | $1.6M | $17.5M |
| Net income | $42.5M | $95.5M | $17.8M | $21.7M | $125.8M | $135.2M | −$551,000 | −$1.8M | $90.0M | $114.5M | $7.2M | $53.6M |
| EBITDA | $130.0M | $209.1M | $95.3M | $107.5M | $224.8M | $233.0M | $76.3M | $81.7M | $219.0M | $232.3M | $103.0M | $160.1M |
| EPS (diluted) | $0.78 | $1.86 | $0.34 | $0.41 | $2.36 | $2.53 | −$0.01 | −$0.03 | $1.68 | $2.13 | $0.13 | $0.99 |
| Gross margin | 14.8% | 12.8% | 10.5% | 12.3% | 13.5% | 16.7% | 13.3% | 14.6% | 17.0% | 16.9% | 13.8% | 16.0% |
| Operating margin | 2.2% | 3.5% | 0.5% | 1.6% | 4.1% | 6.1% | 0.5% | 0.6% | 5.3% | 5.8% | 0.8% | 4.3% |
| Net margin | 1.8% | 3.4% | 0.8% | 0.9% | 5.0% | 4.7% | −0.0% | −0.1% | 3.6% | 4.1% | 0.3% | 2.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in THO's financial statements (latest annual report filed September 22, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
THO financial results
In fiscal year 2026 (ended July 31, 2026), Thor Industries reported revenue of $9.6 billion, up 0.3% from the year before. It had net income of $177.5 million (down 31.3%), a net profit margin of 1.8%. Diluted earnings per share came to $3.39. Over five years revenue grew at an average rate of −4.8% a year.
See the THO stock overview for the latest quote and news, or the THO chart for price history and technical indicators.
THO income statement FAQ
What is Thor Industries's annual revenue?
Thor Industries reported total revenue of $9.6 billion for fiscal year 2026, which ended on July 31, 2026. That was up 0.3% from $9.6 billion the previous year.
Is Thor Industries profitable?
Yes. Thor Industries reported net income of $177.5 million in fiscal 2026, a net profit margin of 1.8%; its operating margin was 2.1%.
What is Thor Industries's gross margin?
Thor Industries's gross margin was 12.6% in fiscal 2026: for every $100 of revenue, Thor Industries kept $13 after the direct cost of its products and services.
How fast is Thor Industries growing?
Revenue grew −4.8% a year on average over the last five fiscal years, from $12.3 billion to $9.6 billion.
What are Thor Industries's earnings per share?
Thor Industries earned $3.39 per diluted share in fiscal 2026, compared with $4.85 a year earlier.
When will Thor Industries report its next earnings?
Thor Industries is expected to report results for the quarter ending October 31, 2026 on December 2, 2026 before the market opens.
When does Thor Industries's fiscal year end?
Thor Industries's fiscal year ends in July. The latest annual report covers the year ended July 31, 2026 and was filed on September 22, 2026.