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Thor Industries (THO)
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Thor Industries Income Statement 2025-2008 | THO
Brief overview of financial performance at Thor Industries
The figures are compared over a five-year interval. According to figures from Thor Industries, revenue changed from 8.2 billion dollars to 9.6 billion dollars over five years. Across the full period, sales moved by +17.3%; the average annual rate was 3.2%. Revenue was effectively stagnant over the period.
At the gross-profit level, the result moved from $1.1 billion to $1.3 billion, a change of +19.9%. Cost of revenue moved broadly in line with sales. Gross profit as a share of revenue changed from 13.7% to 14%. The gross margin stayed within a similar range.
EBITDA changed from $196 million to $271 million (+38.3%). Additional revenue translated efficiently into EBITDA. Comparing the endpoints gives EBITDA margins of 2.4% and 2.8%. Operating efficiency did not change materially.
Net profit was $223 million at the start and $259 million at the end. There was no meaningful strengthening in net profitability.
The five-year change in capitalization reached +16%: from $5 billion to $5.8 billion. The market broadly confirmed the positive direction of the business.
Financial takeaway
The figures do not all move in the same direction. Key strengths include stable operating profitability, consistent sales economics and improving net profitability. The overall view is constrained by limited revenue growth and a narrow EBITDA buffer. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Thor Industries
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
5.76 B | 5.83 B | 5.07 B | 4.14 B | 5.7 B | 4.97 B | 2.47 B | 4.99 B | 5.71 B | 4.27 B | 2.88 B | 2.86 B | 2.72 B | 1.69 B | 1.22 B | 1.49 B | - | - |
Shares |
53.1 M | 53.2 M | 53.5 M | 55 M | 55.3 M | 55.2 M | 53.9 M | 52.7 M | 52.6 M | 52.5 M | 53.2 M | 53.3 M | 53 M | 53.8 M | 55.3 M | 53 M | 55.4 M | - |
Historical Prices |
108 | 109 | 94.8 | 75.2 | 103 | 90.8 | 70.8 | 48.2 | 138 | 90.4 | 49.7 | 48.5 | 46.4 | 29.8 | 21.4 | 28.2 | - | 28 |
Net Income |
259 M | 265 M | 374 M | 1.14 B | 660 M | 223 M | 133 M | 430 M | 374 M | 257 M | 199 M | 179 M | 153 M | 122 M | 106 M | 110 M | 17.1 M | - |
Revenue |
9.58 B | 10 B | 11.1 B | 16.3 B | 12.3 B | 8.17 B | 7.86 B | 8.33 B | 7.25 B | 4.58 B | 4.01 B | 3.53 B | 3.24 B | 3.08 B | 2.76 B | - | - | - |
Cost of Revenue |
8.24 B | 8.59 B | 9.53 B | 13.5 B | 10.4 B | 7.05 B | 6.89 B | 7.16 B | 6.2 B | 3.86 B | 3.45 B | 3.06 B | 2.82 B | 2.32 B | 2.42 B | 1.97 B | 1.37 B | - |
Gross Profit |
1.34 B | 1.45 B | 1.6 B | 2.81 B | 1.89 B | 1.12 B | 973 M | 1.16 B | 1.04 B | 726 M | 558 M | 470 M | 425 M | 357 M | 333 M | 307 M | 153 M | - |
Interest Expense |
45.6 M | 13.6 M | 97.4 M | 90.1 M | 93.5 M | 107 M | 68.1 M | 5.19 M | 9.73 M | 1.59 M | 180 K | 10 K | 6 K | 47 K | 212 K | 395 K | 525 K | - |
EBITDA |
271 M | 277 M | 277 M | 284 M | 231 M | 196 M | 437 M | 687 M | 624 M | 420 M | 307 M | 262 M | 230 M | 188 M | 152 M | 13.2 M | 13.5 M | - |
Operating Expenses |
- | - | - | - | - | - | 612 M | 533 M | 484 M | 334 M | 267 M | 222 M | 205 M | 180 M | 191 M | - | - | - |
General and Administrative Expenses |
923 M | 896 M | 870 M | 1.12 B | 870 M | 634 M | 536 M | 477 M | 420 M | 306 M | 251 M | 209 M | 195 M | 169 M | 181 M | 147 M | 125 M | - |
All numbers in USD currency
Quarterly Income Statement Thor Industries
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
52.2 M | 52.7 M | 52.7 M | 52.7 M | 52.7 M | 53.2 M | 53.2 M | 53.2 M | 53 M | 53.3 M | 53.3 M | 53.3 M | 53.3 M | 53.5 M | 53.4 M | 53.5 M | 53.7 M | - | 54.9 M | 55.4 M | 55.4 M | 55.3 M | 55.4 M | 55.2 M | 55.2 M | 55.1 M | 55.2 M | 52.8 M | 55.1 M | 52.8 M | 55.1 M | 52.7 M | 52.7 M | 52.7 M | 52.7 M | 52.6 M | 52.6 M | 52.5 M | 52.6 M | 52.5 M | 52.5 M | 52.4 M | 52.5 M | 53.4 M | 52.4 M | 53.4 M | 52.4 M | 53.3 M | 53.3 M | 53.2 M | 53.3 M | 53 M | 53.2 M | 53 M | 53.2 M | 54.6 M | 52.9 M | 54.8 M | 52.9 M | 55.8 M | 55 M | 54.7 M | 55 M |
Net Income |
97.2 M | 17.8 M | 21.7 M | 17.8 M | 21.7 M | -551 K | 135 M | -551 K | -1.83 M | 7.22 M | 115 M | 7.22 M | 53.6 M | 27.1 M | 121 M | 27.1 M | 136 M | - | 348 M | 133 M | 242 M | 246 M | 183 M | 28.7 M | 114 M | 79.7 M | 114 M | -5.42 M | 51.1 M | 8.54 M | 51.1 M | - | 14 M | 208 M | 14 M | - | 128 M | 144 M | 128 M | - | 78.7 M | 95.2 M | 78.7 M | 28.6 M | 50.5 M | 67.6 M | 50.5 M | 16.2 M | 38.9 M | 57.3 M | 38.9 M | 19.9 M | 41.1 M | 50.9 M | 41.1 M | 13.7 M | 31 M | 36 M | 31 M | 5.69 M | 22.4 M | 29.4 M | 22.4 M |
Revenue |
2.78 B | 2.13 B | 2.39 B | 2.13 B | 2.39 B | 2.02 B | 2.89 B | 2.02 B | 2.14 B | 2.21 B | 2.8 B | 2.21 B | 2.5 B | 2.35 B | 2.93 B | 2.35 B | 3.11 B | - | 4.66 B | 3.88 B | 3.96 B | 5.27 B | 3.46 B | 2 B | 2.54 B | 4.16 B | 2.54 B | 1.29 B | 2.16 B | 3.05 B | 2.16 B | 1.97 B | 1.76 B | 4.2 B | 1.76 B | - | 2.23 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
2.43 B | 1.87 B | 2.07 B | 1.87 B | 2.07 B | 1.77 B | 2.45 B | 1.77 B | 1.86 B | 1.94 B | 2.38 B | 1.94 B | 2.14 B | 2.06 B | 2.5 B | 2.06 B | 2.62 B | - | 3.85 B | 2.31 B | 3.3 B | 4.47 B | 2.95 B | 1.75 B | 2.16 B | 3.6 B | 2.16 B | 1.15 B | 1.85 B | 2.7 B | 1.85 B | 1.7 B | 1.55 B | 3.6 B | 1.55 B | 1.38 B | 1.9 B | 2.85 B | 1.9 B | 826 M | 1.47 B | 1.7 B | 1.47 B | 750 M | 878 M | 1.55 B | 878 M | 565 M | 804 M | 1.26 B | 804 M | 569 M | 695 M | 1.24 B | 695 M | 538 M | 669 M | 1.14 B | 775 M | 479 M | 598 M | 1.01 B | 598 M |
Gross Profit |
355 M | 251 M | 321 M | 251 M | 321 M | 245 M | 443 M | 245 M | 281 M | 271 M | 422 M | 271 M | 358 M | 283 M | 433 M | 283 M | 486 M | - | 807 M | 415 M | 655 M | 794 M | 505 M | 256 M | 379 M | 565 M | 379 M | 142 M | 309 M | 349 M | 309 M | 270 M | 207 M | 604 M | 207 M | 212 M | 333 M | 448 M | 333 M | 149 M | 237 M | 301 M | 237 M | 102 M | 152 M | 220 M | 152 M | 70.3 M | 118 M | 176 M | 118 M | 67.5 M | 105 M | 160 M | 105 M | 59.4 M | 92.3 M | 134 M | 101 M | 47.6 M | 75 M | 124 M | 75 M |
Interest Expense |
47.1 M | 19 M | 2.49 M | 19 M | 2.49 M | 619 K | -8.46 M | 619 K | 2.65 M | 7.57 M | 1.16 M | 16.9 M | -14.9 M | 19.4 M | -5.67 M | 19.4 M | -7.56 M | - | -348 K | 24.2 M | 7.24 M | 48.4 M | 26.8 M | 27.2 M | 24.3 M | 55.3 M | 24.3 M | 859 K | 28 M | 1.74 M | 28 M | 1.35 M | 876 K | 2.77 M | 876 K | 2.49 M | 1.41 M | 5.05 M | 1.41 M | 168 K | 2.56 M | 342 K | 2.56 M | 1 K | 174 K | 1 K | 174 K | 2 K | 7 K | 7 K | 352 K | 2 K | 5 K | 5 K | 5 K | 127 K | 3 K | 270 K | 80 K | 37 K | 143 K | 107 K | 143 K |
EBITDA |
66 M | 64.9 M | 66 M | 64.9 M | 66 M | 66 M | 66.2 M | 66 M | 67.7 M | 68.1 M | 68.2 M | 68.1 M | 67.3 M | 67.7 M | 68.2 M | 67.7 M | 67 M | - | 71.6 M | 56.7 M | 65 M | 111 M | 58.7 M | 48.9 M | 54.2 M | 99.2 M | 54.2 M | 23.5 M | 50.2 M | 46.6 M | 50.2 M | 23.3 M | 23.1 M | 46 M | 23.1 M | 23.8 M | 22.7 M | 50.4 M | 22.7 M | 11.4 M | 26.6 M | 22.8 M | 26.6 M | 3.97 M | 11.4 M | 6.79 M | 5.4 M | 3.23 M | 3.32 M | 6.39 M | 3.32 M | 2.62 M | 3.41 M | 6.89 M | 3.41 M | 2.78 M | 3.44 M | 6.97 M | 3.44 M | 2.49 M | 3.51 M | 6.7 M | 3.51 M |
General and Administrative Expenses |
231 M | 212 M | 254 M | 212 M | 254 M | 206 M | 238 M | 206 M | 240 M | 220 M | 227 M | 220 M | 218 M | 209 M | 210 M | 209 M | 242 M | - | 282 M | 206 M | 296 M | 388 M | 232 M | 162 M | 182 M | 351 M | 182 M | 85.1 M | 188 M | 188 M | 188 M | 117 M | 103 M | 251 M | 103 M | 97 M | 134 M | 199 M | 134 M | 67.4 M | 102 M | 136 M | 102 M | 54.3 M | 68.5 M | 112 M | 68.5 M | 43.8 M | 58 M | 92.1 M | 58 M | 41.6 M | 48.3 M | 88.3 M | 48.3 M | 36.2 M | 46.7 M | 74.7 M | 51.5 M | 40.7 M | 38.5 M | 85.6 M | 38.5 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Thor Industries (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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