THOR INDUSTRIES INC (THO) Stock Fundamental Analysis
NYSE:THO - New York Stock Exchange, Inc. - US8851601018 - Common Stock - Currency: USD
THO gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 37 industry peers in the Automobiles industry. THO has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. THO has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year THO was profitable.
In the past year THO had a positive cash flow from operations.
In the past 5 years THO has always been profitable.
Each year in the past 5 years THO had a positive operating cash flow.
1.2 Ratios
With an excellent Return On Assets value of 3.11%, THO belongs to the best of the industry, outperforming 86.49% of the companies in the same industry.
THO has a Return On Equity of 5.28%. This is in the better half of the industry: THO outperforms 75.68% of its industry peers.
The Return On Invested Capital of THO (4.61%) is better than 83.78% of its industry peers.
THO had an Average Return On Invested Capital over the past 3 years of 11.53%. This is above the industry average of 6.78%.
The 3 year average ROIC (11.53%) for THO is well above the current ROIC(4.61%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.11% | ||
| ROE | 5.28% | ||
| ROIC | 4.61% |
ROA(3y)8.1%
ROA(5y)7.61%
ROE(3y)15.87%
ROE(5y)15.96%
ROIC(3y)11.53%
ROIC(5y)11.18%
1.3 Margins
THO has a Profit Margin of 2.32%. This is in the better half of the industry: THO outperforms 75.68% of its industry peers.
In the last couple of years the Profit Margin of THO has grown nicely.
With a decent Operating Margin value of 3.55%, THO is doing good in the industry, outperforming 78.38% of the companies in the same industry.
In the last couple of years the Operating Margin of THO has remained more or less at the same level.
THO has a better Gross Margin (14.30%) than 62.16% of its industry peers.
In the last couple of years the Gross Margin of THO has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 3.55% | ||
| PM (TTM) | 2.32% | ||
| GM | 14.3% |
OM growth 3Y-17.3%
OM growth 5Y-1.19%
PM growth 3Y-21%
PM growth 5Y9.28%
GM growth 3Y-2.05%
GM growth 5Y3.16%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so THO is still creating some value.
The number of shares outstanding for THO has been reduced compared to 1 year ago.
Compared to 5 years ago, THO has less shares outstanding
The debt/assets ratio for THO has been reduced compared to a year ago.
2.2 Solvency
THO has an Altman-Z score of 3.52. This indicates that THO is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of THO (3.52) is better than 91.89% of its industry peers.
The Debt to FCF ratio of THO is 2.01, which is a good value as it means it would take THO, 2.01 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of THO (2.01) is better than 94.59% of its industry peers.
A Debt/Equity ratio of 0.26 indicates that THO is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.26, THO is in the better half of the industry, outperforming 78.38% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.26 | ||
| Debt/FCF | 2.01 | ||
| Altman-Z | 3.52 |
ROIC/WACC0.57
WACC8.09%
2.3 Liquidity
THO has a Current Ratio of 1.71. This is a normal value and indicates that THO is financially healthy and should not expect problems in meeting its short term obligations.
THO has a Current ratio of 1.71. This is in the better half of the industry: THO outperforms 70.27% of its industry peers.
A Quick Ratio of 0.90 indicates that THO may have some problems paying its short term obligations.
THO has a Quick ratio of 0.90. This is comparable to the rest of the industry: THO outperforms 56.76% of its industry peers.
THO does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.71 | ||
| Quick Ratio | 0.9 |
3. Growth
3.1 Past
The earnings per share for THO have decreased strongly by -19.03% in the last year.
The Earnings Per Share has been decreasing by -0.50% on average over the past years.
THO shows a decrease in Revenue. In the last year, the revenue decreased by -6.42%.
The Revenue has been growing slightly by 5.01% on average over the past years.
EPS 1Y (TTM)-19.03%
EPS 3Y-24.23%
EPS 5Y-0.5%
EPS Q2Q%18.78%
Revenue 1Y (TTM)-6.42%
Revenue growth 3Y-6.58%
Revenue growth 5Y5.01%
Sales Q2Q%3.35%
3.2 Future
THO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 21.06% yearly.
THO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.06% yearly.
EPS Next Y-24.85%
EPS Next 2Y-4.24%
EPS Next 3Y7.13%
EPS Next 5Y21.06%
Revenue Next Year-6.08%
Revenue Next 2Y-1.34%
Revenue Next 3Y1.15%
Revenue Next 5Y7.06%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 22.36 indicates a rather expensive valuation of THO.
THO's Price/Earnings ratio is rather cheap when compared to the industry. THO is cheaper than 86.49% of the companies in the same industry.
When comparing the Price/Earnings ratio of THO to the average of the S&P500 Index (27.24), we can say THO is valued inline with the index average.
With a Price/Forward Earnings ratio of 19.74, THO is valued on the expensive side.
72.97% of the companies in the same industry are more expensive than THO, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.42, THO is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.36 | ||
| Fwd PE | 19.74 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of THO indicates a rather cheap valuation: THO is cheaper than 86.49% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, THO is valued cheaply inside the industry as 94.59% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.21 | ||
| EV/EBITDA | 8.74 |
4.3 Compensation for Growth
The excellent profitability rating of THO may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-4.24%
EPS Next 3Y7.13%
5. Dividend
5.1 Amount
THO has a Yearly Dividend Yield of 2.20%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.67, THO pays a better dividend. On top of this THO pays more dividend than 83.78% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.40, THO has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.2% |
5.2 History
The dividend of THO has a limited annual growth rate of 4.27%.
THO has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)4.27%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
THO pays out 47.20% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of THO is growing, but earnings are growing more, so the dividend growth is sustainable.
DP47.2%
EPS Next 2Y-4.24%
EPS Next 3Y7.13%
93.24
+1.93 (+2.11%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobiles
Earnings (Last)
Earnings (Next)
Inst Owners105.83%
Inst Owner Change-0.17%
Ins Owners4.51%
Ins Owner Change-0.89%
Market Cap4.96B
Analysts56.67
Price Target86.42 (-7.31%)
Short Float %7.98%
Short Ratio5.62
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.2% |
Yearly Dividend1.92
Dividend Growth(5Y)4.27%
DP47.2%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-36.72%
Min EPS beat(2)-114.48%
Max EPS beat(2)41.04%
EPS beat(4)2
Avg EPS beat(4)-37.43%
Min EPS beat(4)-114.48%
Max EPS beat(4)41.04%
EPS beat(8)5
Avg EPS beat(8)-13.79%
EPS beat(12)8
Avg EPS beat(12)1.59%
EPS beat(16)12
Avg EPS beat(16)10.15%
Revenue beat(2)2
Avg Revenue beat(2)5.79%
Min Revenue beat(2)1.26%
Max Revenue beat(2)10.32%
Revenue beat(4)3
Avg Revenue beat(4)1.95%
Min Revenue beat(4)-5.35%
Max Revenue beat(4)10.32%
Revenue beat(8)5
Avg Revenue beat(8)2.14%
Revenue beat(12)8
Avg Revenue beat(12)1.8%
Revenue beat(16)12
Avg Revenue beat(16)3.73%
PT rev (1m)0%
PT rev (3m)2.31%
EPS NQ rev (1m)-1.2%
EPS NQ rev (3m)-30.73%
EPS NY rev (1m)-0.35%
EPS NY rev (3m)7.02%
Revenue NQ rev (1m)-0.34%
Revenue NQ rev (3m)-5.69%
Revenue NY rev (1m)-0.07%
Revenue NY rev (3m)1.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.36 | ||
| Fwd PE | 19.74 | ||
| P/S | 0.52 | ||
| P/FCF | 9.21 | ||
| P/OCF | 7.55 | ||
| P/B | 1.17 | ||
| P/tB | 3.1 | ||
| EV/EBITDA | 8.74 |
EPS(TTM)4.17
EY4.47%
EPS(NY)4.72
Fwd EY5.06%
FCF(TTM)10.13
FCFY10.86%
OCF(TTM)12.35
OCFY13.25%
SpS180.26
BVpS79.39
TBVpS30.11
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.11% | ||
| ROE | 5.28% | ||
| ROCE | 6.18% | ||
| ROIC | 4.61% | ||
| ROICexc | 5.07% | ||
| ROICexgc | 10.49% | ||
| OM | 3.55% | ||
| PM (TTM) | 2.32% | ||
| GM | 14.3% | ||
| FCFM | 5.62% |
ROA(3y)8.1%
ROA(5y)7.61%
ROE(3y)15.87%
ROE(5y)15.96%
ROIC(3y)11.53%
ROIC(5y)11.18%
ROICexc(3y)12.36%
ROICexc(5y)12.16%
ROICexgc(3y)26.95%
ROICexgc(5y)27.77%
ROCE(3y)15.37%
ROCE(5y)14.9%
ROICexcg growth 3Y-27.81%
ROICexcg growth 5Y-5.33%
ROICexc growth 3Y-25.87%
ROICexc growth 5Y-1.71%
OM growth 3Y-17.3%
OM growth 5Y-1.19%
PM growth 3Y-21%
PM growth 5Y9.28%
GM growth 3Y-2.05%
GM growth 5Y3.16%
F-Score7
Asset Turnover1.34
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.26 | ||
| Debt/FCF | 2.01 | ||
| Debt/EBITDA | 1.76 | ||
| Cap/Depr | 43.38% | ||
| Cap/Sales | 1.24% | ||
| Interest Coverage | 5.09 | ||
| Cash Conversion | 107.03% | ||
| Profit Quality | 241.75% | ||
| Current Ratio | 1.71 | ||
| Quick Ratio | 0.9 | ||
| Altman-Z | 3.52 |
F-Score7
WACC8.09%
ROIC/WACC0.57
Cap/Depr(3y)70.25%
Cap/Depr(5y)64.21%
Cap/Sales(3y)1.58%
Cap/Sales(5y)1.42%
Profit Quality(3y)141.79%
Profit Quality(5y)136.07%
High Growth Momentum
Growth
EPS 1Y (TTM)-19.03%
EPS 3Y-24.23%
EPS 5Y-0.5%
EPS Q2Q%18.78%
EPS Next Y-24.85%
EPS Next 2Y-4.24%
EPS Next 3Y7.13%
EPS Next 5Y21.06%
Revenue 1Y (TTM)-6.42%
Revenue growth 3Y-6.58%
Revenue growth 5Y5.01%
Sales Q2Q%3.35%
Revenue Next Year-6.08%
Revenue Next 2Y-1.34%
Revenue Next 3Y1.15%
Revenue Next 5Y7.06%
EBIT growth 1Y-22.93%
EBIT growth 3Y-22.74%
EBIT growth 5Y3.77%
EBIT Next Year47.97%
EBIT Next 3Y28.16%
EBIT Next 5Y25.93%
FCF growth 1Y-10.92%
FCF growth 3Y0.69%
FCF growth 5Y1.45%
OCF growth 1Y-20.51%
OCF growth 3Y1.19%
OCF growth 5Y1.44%