Thor Industries, Inc. (THO) Key Metrics
THO valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.53B
- Enterprise value
- $4.12B
- P/E (TTM)
- 20.2 10-yr median 17.7
- Forward P/E
- 16.4
- PEG ratio
- 0.70
- Price / sales
- 0.4 10-yr median 0.5
- Price / book
- 0.9 10-yr median 1.5
- EV / EBITDA
- 7.6 10-yr median 8.2
- Dividend yield
- 3.16% $2.16 a year
- Beta
- 1.42
THO key metrics, FY2017–FY2026
Fiscal year ended July 31, 2026 · U.S. dollarsTHO valuation Price multiples at each fiscal year-end price.
THO returns How much profit the business earns on the capital it uses.
THO per-share figures Results divided by the shares outstanding at year-end.
THO financial health Debt, liquidity and how easily interest is covered.
THO efficiency & capital use Working capital cycle and where the cash goes.
THO valuation history
THO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
THO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
THO cash returned to shareholders
THO price vs earnings per share
THO key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.94B | $4.86B | $5.70B | $6.22B | $4.66B | $6.59B | $6.31B | $3.22B | $5.01B | $5.56B |
| Enterprise value | $4.33B | $5.20B | $6.33B | $7.08B | $6.12B | $7.76B | $7.44B | $4.67B | $4.74B | $5.48B |
| P/E ratio | 22.2 | 18.8 | 21.5 | 16.6 | 4.1 | 10.0 | 28.3 | 24.2 | 11.7 | 14.9 |
| Price / sales | 0.4 | 0.5 | 0.6 | 0.6 | 0.3 | 0.5 | 0.8 | 0.4 | 0.6 | 0.8 |
| Price / book | 0.9 | 1.1 | 1.4 | 1.6 | 1.3 | 2.2 | 2.7 | 1.5 | 2.6 | 3.5 |
| Price / free cash flow | 23.3 | 10.7 | 14.0 | 8.0 | 6.2 | 16.6 | 14.5 | 8.5 | 15.3 | 18.3 |
| Price / operating cash flow | 12.3 | 8.4 | 10.4 | 6.3 | 4.7 | 12.5 | 11.7 | 6.3 | 10.7 | 13.3 |
| EV / sales | 0.5 | 0.5 | 0.6 | 0.6 | 0.4 | 0.6 | 0.9 | 0.6 | 0.6 | 0.8 |
| EV / EBITDA | 8.0 | 8.4 | 8.9 | 8.1 | 3.3 | 6.6 | 12.8 | 9.2 | 6.5 | 8.3 |
| EV / free cash flow | 25.6 | 11.4 | 15.6 | 9.2 | 8.2 | 19.5 | 17.1 | 12.4 | 14.4 | 18.0 |
| Earnings yield | 4.5% | 5.3% | 4.7% | 6.0% | 24.4% | 10.0% | 3.5% | 4.1% | 8.6% | 6.7% |
| Free cash flow yield | 4.3% | 9.4% | 7.1% | 12.4% | 16.0% | 6.0% | 6.9% | 11.7% | 6.5% | 5.5% |
| Dividend yield | 2.8% | 2.2% | 1.8% | 1.5% | 2.0% | 1.4% | 1.4% | 2.6% | 1.6% | 1.2% |
| Shareholder yield (dividends + buybacks) | 5.7% | 3.3% | 3.0% | 2.2% | 5.6% | 1.4% | 1.4% | 2.6% | 1.6% | 1.2% |
| Share price at fiscal year-end | $74.97 | $90.99 | $106.14 | $115.49 | $84.33 | $118.36 | $113.99 | $59.60 | $94.85 | $105.35 |
| Per share | ||||||||||
| Revenue per share | $182.79 | $179.40 | $187.09 | $206.49 | $295.17 | $221.19 | $147.45 | $145.57 | $157.59 | $137.36 |
| Earnings per share | $3.38 | $4.84 | $4.94 | $6.95 | $20.59 | $11.85 | $4.02 | $2.47 | $8.14 | $7.09 |
| Operating cash flow per share | $6.11 | $10.82 | $10.16 | $18.23 | $17.92 | $9.45 | $9.76 | $9.40 | $8.83 | $7.95 |
| Free cash flow per share | $3.21 | $8.52 | $7.56 | $14.36 | $13.53 | $7.14 | $7.84 | $6.99 | $6.21 | $5.77 |
| Cash per share | $9.17 | $10.98 | $9.34 | $8.19 | $5.64 | $8.01 | $9.77 | $8.35 | $5.21 | $4.23 |
| Book value per share | $81.07 | $80.31 | $75.76 | $73.96 | $65.15 | $52.94 | $42.34 | $38.78 | $36.66 | $29.88 |
| Tangible book value per share | $31.59 | $31.62 | $26.44 | $22.02 | $12.29 | $8.04 | −$0.82 | −$4.32 | $22.17 | $14.32 |
| Dividends per share | $2.07 | $1.99 | $1.90 | $1.78 | $1.72 | $1.63 | $1.59 | $1.56 | $1.48 | $1.32 |
| Capex per share | $2.90 | $2.30 | $2.60 | $3.87 | $4.39 | $2.31 | $1.93 | $2.41 | $2.61 | $2.18 |
| Debt per share | $16.51 | $17.28 | $21.12 | $24.24 | $32.04 | $28.95 | $30.17 | $35.22 | $0.12 | $2.76 |
| Shares outstanding | 52.6M | 53.4M | 53.7M | 53.9M | 55.3M | 55.7M | 55.4M | 54.0M | 52.9M | 52.8M |
| Change in shares outstanding | −1.6% | −0.5% | −0.3% | −2.5% | −0.8% | +0.5% | +2.5% | +2.2% | +0.2% | +0.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 4.2% | 6.2% | 6.6% | 9.9% | 34.7% | 24.9% | 10.0% | 6.6% | 24.5% | 26.3% |
| Return on invested capital (ROIC) | 3.1% | 5.6% | 6.8% | 8.9% | 26.1% | 18.7% | 8.9% | 9.9% | 27.1% | 25.8% |
| Return on assets (ROA) | 2.5% | 3.7% | 3.7% | 5.1% | 16.2% | 10.6% | 3.9% | 3.2% | 16.1% | 15.3% |
| Return on tangible assets | 4.1% | 5.8% | 6.1% | 8.4% | 25.4% | 15.9% | 6.6% | 4.0% | 21.4% | 21.5% |
| Free cash flow margin | 1.8% | 4.7% | 4.0% | 7.0% | 4.6% | 3.2% | 5.3% | 4.8% | 3.9% | 4.2% |
| Income quality (OCF / net income) | 1.81 | 2.24 | 2.06 | 2.62 | 0.87 | 0.80 | 2.43 | 3.81 | 1.08 | 1.12 |
| Financial health | ||||||||||
| Total debt | $868.0M | $923.0M | $1.13B | $1.31B | $1.77B | $1.61B | $1.67B | $1.90B | $6.1M | $145.4M |
| Cash & short-term investments | $482.0M | $586.6M | $501.3M | $441.2M | $311.7M | $445.9M | $541.4M | $451.3M | $275.2M | $223.3M |
| Net debt | $386.0M | $336.4M | $632.6M | $864.2M | $1.46B | $1.17B | $1.13B | $1.45B | −$269.2M | −$77.9M |
| Debt / equity | 0.20 | 0.22 | 0.28 | 0.33 | 0.49 | 0.55 | 0.71 | 0.91 | 0.00 | 0.09 |
| Debt / assets | 0.12 | 0.13 | 0.16 | 0.18 | 0.24 | 0.24 | 0.29 | 0.34 | 0.00 | 0.06 |
| Net debt / EBITDA | 0.71 | 0.55 | 0.89 | 0.99 | 0.79 | 1.00 | 1.94 | 2.85 | −0.37 | −0.12 |
| Current ratio | 1.77 | 1.75 | 1.69 | 1.63 | 1.74 | 1.56 | 1.39 | 1.41 | 1.70 | 1.51 |
| Quick ratio | 0.85 | 0.90 | 0.82 | 0.66 | 0.74 | 0.80 | 0.91 | 0.84 | 1.01 | 0.92 |
| Interest coverage | 5.4 | 6.2 | 4.8 | 6.0 | 16.8 | 9.6 | 3.6 | 5.3 | 121.9 | 57.5 |
| Working capital | $1.19B | $1.19B | $1.08B | $1.08B | $1.31B | $1.01B | $587.0M | $589.0M | $542.3M | $399.1M |
| Invested capital | $4.65B | $4.62B | $4.70B | $4.85B | $5.06B | $4.11B | $3.48B | $3.55B | $1.67B | $1.50B |
| Tangible asset value | $1.66B | $1.69B | $1.43B | $1.19B | $679.0M | $447.7M | −$45.7M | −$233.6M | $1.17B | $755.4M |
| Net current asset value | $43.8M | $2.2M | −$296.7M | −$483.9M | −$745.0M | −$902.5M | −$1.32B | −$1.53B | $470.8M | $198.8M |
| Graham number | $78.49 | $93.54 | $91.78 | $107.54 | $173.73 | $118.81 | $61.92 | $46.40 | $81.94 | $69.06 |
| Graham net-net per share | −$21.64 | −$18.40 | −$23.03 | −$28.36 | −$34.57 | −$33.45 | −$34.58 | −$40.03 | $1.30 | −$3.11 |
| Capital allocation | ||||||||||
| Dividends paid | $108.8M | $106.1M | $102.1M | $96.0M | $94.9M | $90.8M | $88.3M | $84.1M | $78.0M | $69.4M |
| Share buybacks (net) | $115.1M | $52.6M | $68.4M | $42.0M | $165.1M | $0 | $0 | — | $0 | $0 |
| Dividend payout ratio | 61.3% | 41.0% | 38.5% | 25.6% | 8.3% | 13.8% | 39.6% | 63.1% | 18.1% | 18.5% |
| Dividends + buybacks / free cash flow | 132.6% | 34.9% | 42.0% | 17.8% | 34.8% | 22.8% | 20.3% | 22.3% | 23.8% | 22.8% |
| Capex / revenue | 1.6% | 1.3% | 1.4% | 1.9% | 1.5% | 1.0% | 1.3% | 1.7% | 1.7% | 1.6% |
| Capex / operating cash flow | 47.4% | 21.3% | 25.6% | 21.2% | 24.5% | 24.5% | 19.7% | 25.6% | 29.6% | 27.4% |
| Capex / depreciation | 0.57 | 0.45 | 0.50 | 0.75 | 0.85 | 0.56 | 0.54 | 0.88 | 1.48 | 1.17 |
| Stock-based compensation / revenue | 0.3% | 0.3% | 0.4% | 0.4% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| R&D / revenue | — | 0.5% | 0.5% | 0.3% | 0.2% | 0.2% | 0.2% | 0.1% | 0.0% | 0.0% |
| SG&A / revenue | — | 8.7% | 8.9% | 7.2% | 6.8% | 6.7% | 6.9% | 6.3% | 5.7% | 5.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 22.7 | 26.8 | 24.4 | 26.0 | 21.2 | 26.1 | 34.2 | 27.9 | 21.3 | 22.1 |
| Days of inventory on hand | 60.3 | 59.2 | 65.2 | 64.3 | 42.8 | 36.0 | 39.4 | 35.7 | 26.2 | 25.1 |
| Days payables outstanding | 32.1 | 29.7 | 29.4 | 29.4 | 23.8 | 26.8 | 30.3 | 21.9 | 16.1 | 17.2 |
| Cash conversion cycle (days) | 50.9 | 56.3 | 60.1 | 61.0 | 40.2 | 35.4 | 43.3 | 41.7 | 31.3 | 30.0 |
| Receivables turnover | 16.09 | 13.61 | 14.95 | 14.01 | 17.22 | 13.96 | 10.67 | 13.07 | 17.14 | 16.52 |
| Payables turnover | 11.36 | 12.27 | 12.40 | 12.40 | 15.34 | 13.61 | 12.05 | 16.63 | 22.63 | 21.18 |
| Inventory turnover | 6.05 | 6.17 | 5.60 | 5.67 | 8.53 | 10.13 | 9.28 | 10.21 | 13.95 | 14.51 |
| Asset turnover | 1.37 | 1.36 | 1.41 | 1.52 | 2.32 | 1.98 | 1.43 | 1.86 | 3.12 | 2.97 |
| Average receivables | $597.1M | $704.1M | $672.1M | $793.7M | $947.1M | $882.1M | $765.2M | $601.7M | $486.0M | $438.7M |
| Average payables | $739.3M | $683.1M | $682.2M | $779.4M | $868.7M | $775.8M | $594.2M | $419.4M | $307.8M | $296.2M |
| Average inventory | $1.39B | $1.36B | $1.51B | $1.70B | $1.56B | $1.04B | $772.1M | $682.9M | $499.2M | $432.2M |
| Intangibles / total assets | 37.4% | 36.8% | 37.7% | 38.5% | 39.4% | 37.6% | 41.4% | 41.1% | 27.6% | 32.1% |
Computed from THO's annual financial statements (latest annual report filed September 22, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
THO valuation and financial ratios
At the end of fiscal 2026 (July 31, 2026), Thor Industries traded at 22.2 times earnings, against a 10-year median of 17.7. Based on the latest twelve months, the trailing P/E is 20.2 and the forward P/E is 16.4. Thor Industries earned a return on equity of 4.2% and a return on invested capital of 3.1% in fiscal 2026. It ended the year with $868.0 million of debt and $482.0 million in cash and short-term investments, net debt of $386.0 million. It returned $223.9 million to shareholders: $108.8 million in dividends and $115.1 million in share buybacks, 133% of free cash flow.
See the THO income statement, the THO chart for price history, or the THO stock overview for the latest quote and news.
THO key metrics FAQ
What is Thor Industries's P/E ratio?
Thor Industries's trailing P/E ratio is 20.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 16.4. At the end of fiscal 2026 it was 22.2, compared with a 10-year median of 17.7.
What is Thor Industries's EV/EBITDA?
Thor Industries's enterprise value was 8.0 times EBITDA at the end of fiscal 2026 (enterprise value $4.3 billion, EBITDA $541.9 million); the current EV/EBITDA is 7.6.
What is Thor Industries's return on equity?
Thor Industries's return on equity (ROE) was 4.2% in fiscal 2026: net income of $177.5 million on average shareholders' equity of $4.3 billion.
What is Thor Industries's ROIC?
Thor Industries's return on invested capital was 3.1% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Thor Industries have?
Thor Industries had total debt of $868.0 million at the end of fiscal 2026, a debt-to-equity ratio of 0.20 and $386.0 million of net debt (0.71 times EBITDA).
What is Thor Industries's dividend yield?
Thor Industries's forward dividend yield is 3.16%. Thor Industries paid $108.8 million in dividends in fiscal 2026 ($2.07 per share), a payout ratio of 61.3%.
Does Thor Industries buy back its shares?
Yes. Thor Industries spent $115.1 million on net share repurchases in fiscal 2026 Shares outstanding changed −1.6% over the year, to 52.6M..
What is Thor Industries's free cash flow yield?
Thor Industries generated $168.8 million of free cash flow in fiscal 2026, a free cash flow yield of 4.3% on its market value at year-end ($3.9 billion).
What is Thor Industries's current ratio?
Thor Industries's current ratio was 1.77 at the end of fiscal 2026: current assets were 1.77 times current liabilities.