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Thor Industries

THO on NYSE. THOR Industries sells recreational vehicles and parts to dealers in North America and Europe. Market value $3.5bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to July 2026.

The company doesn't report operating profit, so we work it out from pre-tax profit and interest.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Retail & consumer stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to July 2026
4.8%fair

For every $100 of what the whole company costs, it produced $4.84 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to July 2026
13.7×fair

You pay 13.7 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to July 2026
7.5%five-year median

Each dollar kept in the business earns 8 cents a year. Above 10 is good.

Quality score: 56 of 100. Price score: 85 of 100. Our list needs 70 on quality and 60 on price.

$67.63 a share, 3% above its 1-year low

Over the past year the price has ranged from $65.90 to $122.83.

Dividend: 3.1% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.7
0.8
0.4
0.5
0.2
20222023202420252026
Revenue
$16.3bn$11.1bn$10.0bn$9.6bn$9.6bn
Operating margin
9.5%5.4%4.5%3.7%3.0%
Debt to equity
0.490.330.280.220.20
Shares outstanding
0.05bn0.05bn0.05bn0.05bn0.05bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)7 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt0.20× equity
  • Revenue growth, five yearsShrinking, 4.8% a year
  • Buying back its own sharesYes, 3% fewer since 2022

The quarter to July 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $2.3 billion last quarter, down 8% on a year ago.
  • Profit: $41 million, down 68% on a year ago.
  • Spare cash over the past 12 months: $169 million, down from $456 million.
  • Debt is $387 million more than cash, up from $338 million a year ago.
  • Sales grew on a year ago in 2 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
October 2024$2.1bn
January 2025$2.0bn
April 2025$2.9bn
July 2025$2.5bn
October 2025$2.4bn
January 2026$2.1bn
April 2026$2.8bn
July 2026$2.3bn
Profit by quarter
Profit by quarter
Quarter toAmount
October 2024-$2m
January 2025-$551,000
April 2025$135m
July 2025$126m
October 2025$22m
January 2026$18m
April 2026$97m
July 2026$41m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
22 September 2026
Next quarterly (estimated, 10-Q)
2 September 2026

Who owns it

8 long-term investors we follow own it, up from 7 last quarter. 407 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $229,450 of shares on the open market. 1 sold $702,866.

  • ORTHWEIN PETER BUSCH
    Director
    Bought
    Date
    6 March 2026
    Shares
    2,600
    Price
    $88.25
    Value
    $229,450
  • WOELFER W. TODD
    SVP, CHIEF OPERATING OFFICER
    Sold
    Date
    15 January 2026
    Shares
    4,567
    Price
    $114.85
    Value
    $524,520
  • WOELFER W. TODD
    SVP, CHIEF OPERATING OFFICER
    Sold
    Date
    12 December 2025
    Shares
    1,729
    Price
    $103.15
    Value
    $178,346

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

  • Sales have shrunk: 4.8% a year.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.