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Winnebago Industries Balance Sheet 2025-2009 | WGO
Brief overview of Winnebago Industries's balance sheet structure
The review uses the five latest available annual reports between 2021 and 2025.
The size of the balance sheet remained broadly stable, moving from $2.1 billion to $2.2 billion. There was no meaningful expansion.
Liabilities grew more slowly than assets: -7.5% versus +4.5%. Expansion relied more on equity, improving funding quality.
Equity funds 56.8% of assets versus 51.2% initially. This creates a conservative balance sheet structure.
Net debt equals roughly 0.31x of equity. This is a moderate load and leaves room for maneuver.
Cash equals 8.1% of the balance sheet, compared with 21.1% five periods ago. This is the readily available cushion.
Retained earnings are $1.7 billion versus $1.2 billion initially. The direction shows how results contributed to equity.
Overall assessment
The indicators point to a strong balance sheet position for Winnebago Industries: funding is balanced and liability risks appear controlled.
Annual Balance Sheet Winnebago Industries
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
374 M | 313 M | 288 M | 268 M | 96.6 M | 223 M | 217 M | 289 M | 239 M | -85.6 M | -70.2 M | -57.8 M | -64.3 M | -62.7 M | -69.3 M | - | - |
Long Term Debt |
540 M | 637 M | 592 M | 546 M | 529 M | 513 M | 245 M | 291 M | 272 M | - | - | - | - | - | - | - | - |
Long Term Debt Current |
7.5 M | 6.4 M | 5.9 M | 4.7 M | 2.6 M | 2.66 M | 8.89 M | - | 2.85 M | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 274 M | 313 M | 294 M | 29.4 M | 59.6 M | 65.9 M | 68.1 M | 80.4 M | 79.9 M | - | - |
Total Current Liabilities |
327 M | 405 M | 396 M | 522 M | 407 M | 300 M | 198 M | 204 M | 167 M | 92.9 M | 81.6 M | 99.7 M | 70.4 M | 61 M | - | - | - |
Total Liabilities |
930 M | 1.11 B | 1.06 B | 1.15 B | 1.01 B | 886 M | 472 M | 517 M | 461 M | 122 M | 141 M | 166 M | 138 M | 141 M | 131 M | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | 4.46 M | 1.4 M | 18.8 M | 10 M | 9.64 M | - | 8.45 M | 649 K | - | - |
Retained Earnings |
1.71 B | 1.72 B | 1.75 B | 1.54 B | 1.17 B | 914 M | 867 M | 769 M | 679 M | 621 M | 586 M | 554 M | 509 M | 478 M | 432 M | - | - |
Total Assets |
2.15 B | 2.38 B | 2.43 B | 2.42 B | 2.06 B | 1.71 B | 1.1 B | 1.05 B | 903 M | 391 M | 362 M | 358 M | 309 M | 286 M | 240 M | - | - |
Cash and Cash Equivalents |
174 M | 331 M | 310 M | 282 M | 435 M | 293 M | 37.4 M | 2.34 M | 35.9 M | 85.6 M | 70.2 M | 57.8 M | 64.3 M | 62.7 M | 69.3 M | 69.3 M | 36.6 M |
Book Value |
1.22 B | 1.27 B | 1.37 B | 1.26 B | 1.06 B | 827 M | 632 M | 534 M | 442 M | 268 M | 221 M | 193 M | 171 M | 145 M | 109 M | - | - |
Total Shareholders Equity |
1.22 B | 1.27 B | 1.37 B | 1.26 B | 1.06 B | 827 M | 632 M | 534 M | 442 M | 268 M | 221 M | 193 M | 171 M | 145 M | 109 M | 97.5 M | 92.3 M |
All numbers in USD currency
Quarterly Balance Sheet Winnebago Industries
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
443 M | 442 M | 442 M | 540 M | 540 M | - | 638 M | 636 M | - | 695 M | 593 M | 592 M | 592 M | - | 590 M | 546 M | 541 M | 537 M | 533 M | 529 M | 529 M | 529 M | 517 M | 513 M | 513 M | 513 M | 451 M | 245 M | 245 M | 245 M | 253 M | 291 M | 291 M | 271 M | 268 M | 272 M | 272 M | 272 M | 335 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 592 M | 596 M | 586 M | 520 M | 586 M | 521 M | 306 M | 274 M | 306 M | 274 M | 313 M | 313 M | 313 M | 290 M | 294 M | 294 M | 294 M | 357 M | 29.4 M | 29.4 M | 29.4 M | 30.3 M | 59.6 M | 59.6 M | 59.6 M | 64.5 M | 65.8 M | 65.8 M | 65.8 M | 67.3 M | 68.1 M | 68.1 M | 68.1 M | 79.5 M | 80.4 M | 80.4 M | 80.4 M | 79.3 M | 79.9 M | 79.9 M | 79.9 M |
Total Liabilities |
804 M | 816 M | 816 M | 917 M | 917 M | - | 1.06 B | 1.11 B | - | 1.11 B | 1.01 B | 1.05 B | 1.05 B | - | 1.11 B | 1.15 B | 1.16 B | 1.1 B | 1.05 B | 1.01 B | 1.01 B | 1.01 B | - | 886 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
1.7 B | 1.71 B | 1.71 B | 1.71 B | 1.71 B | - | 1.72 B | 1.76 B | - | 1.75 B | 1.77 B | 1.71 B | 1.71 B | - | 1.63 B | 1.54 B | 1.46 B | 1.36 B | 1.27 B | 1.17 B | 1.17 B | 1.17 B | 967 M | 914 M | 914 M | 914 M | 877 M | 867 M | 867 M | 867 M | 788 M | 769 M | 769 M | 769 M | 694 M | 679 M | 679 M | 679 M | 629 M | 621 M | 621 M | 621 M | 592 M | 586 M | 586 M | 586 M | 562 M | 554 M | 554 M | 554 M | 521 M | 509 M | 509 M | 509 M | 485 M | 477 M | 477 M | 477 M | 434 M | 433 M | 433 M | 433 M |
Total Assets |
2.04 B | 2.05 B | 2.05 B | 2.13 B | 2.13 B | - | 2.3 B | 2.42 B | - | 2.43 B | 2.37 B | 2.41 B | 2.41 B | - | 2.39 B | 2.42 B | 2.43 B | 2.31 B | 2.21 B | 2.06 B | 2.06 B | 2.06 B | 1.78 B | 1.71 B | 1.71 B | 1.71 B | 1.55 B | 1.14 B | 1.1 B | 1.14 B | 1.03 B | 1.05 B | 1.05 B | 1.05 B | 925 M | 903 M | 903 M | 903 M | 883 M | 391 M | 391 M | 883 M | 354 M | 362 M | 362 M | 354 M | 355 M | 358 M | 358 M | 358 M | 315 M | 309 M | 309 M | 309 M | 292 M | 286 M | 286 M | 286 M | 232 M | 240 M | 240 M | 240 M |
Cash and Cash Equivalents |
57.1 M | 47.4 M | 47.4 M | 10.5 M | 10.5 M | 116 M | 262 M | 318 M | 318 M | 266 M | 220 M | 226 M | 226 M | 229 M | 272 M | 282 M | 238 M | 135 M | 211 M | 435 M | 406 M | 435 M | 273 M | 293 M | 293 M | 293 M | 101 M | 37.4 M | 37.4 M | 37.4 M | 702 K | 2.34 M | 2.34 M | 2.34 M | 54.5 M | 35.9 M | 35.9 M | 54.5 M | 25.6 M | 85.6 M | 85.6 M | 25.6 M | 55.7 M | 70.2 M | 70.2 M | 55.7 M | 27.8 M | 57.8 M | 57.8 M | 27.8 M | 49.7 M | 64.3 M | 64.3 M | 49.7 M | 44.1 M | 62.7 M | 62.7 M | 44.1 M | 71.3 M | 62.7 M | 69.3 M | 71.3 M |
Book Value |
1.23 B | 1.24 B | 1.24 B | 1.22 B | 1.22 B | - | 1.24 B | 1.32 B | - | 1.32 B | 1.35 B | 1.36 B | 1.36 B | - | 1.29 B | 1.26 B | 1.26 B | 1.21 B | 1.16 B | 1.06 B | 1.06 B | 1.06 B | 1.78 B | 827 M | 1.71 B | 1.71 B | 1.55 B | 1.14 B | 1.1 B | 1.14 B | 1.03 B | 1.05 B | 1.05 B | 1.05 B | 925 M | 903 M | 903 M | 903 M | 883 M | 391 M | 391 M | 883 M | 354 M | 362 M | 362 M | 354 M | 355 M | 358 M | 358 M | 358 M | 315 M | 309 M | 309 M | 309 M | 292 M | 286 M | 286 M | 286 M | 232 M | 240 M | 240 M | 240 M |
Total Shareholders Equity |
1.23 B | 1.24 B | 1.24 B | 1.22 B | 1.22 B | 1.22 B | 1.24 B | 1.32 B | 1.32 B | 1.32 B | 1.35 B | 1.36 B | 1.36 B | 1.34 B | 1.29 B | 1.26 B | 1.26 B | 1.21 B | 1.16 B | 1.06 B | 1.01 B | 942 M | 872 M | 827 M | 872 M | 872 M | 786 M | 632 M | 632 M | 786 M | 556 M | 534 M | 534 M | 534 M | 457 M | 442 M | 442 M | 442 M | 397 M | 268 M | 268 M | 397 M | 244 M | 221 M | 221 M | 221 M | 196 M | 193 M | 193 M | 193 M | 181 M | 171 M | 171 M | 171 M | 146 M | 145 M | 145 M | 145 M | 109 M | 109 M | 109 M | 109 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Winnebago Industries, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Recreational vehicle
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