Filing Flows › Consumer Discretionary › Thor Industries (THO)
Thor Industries (THO) earnings and revenue breakdown
Latest: Q4 FY26 · 10-K filed Sep 22, 2026 · Thor Industries (THO) Q4 FY26 earnings results →
Q4 FY26 Revenue down 8% year over year to $2.3B · 2¢ of every $1 of revenue kept as net profit · operating margin 2.2%
Thor Industries made $2.3B in Q4 FY26 (-8% Y/Y). Operating margin 2.2%, net earnings $41.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Sep 22, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $2.3B in Q4 FY26, down 8% year over year and down 17% from the previous quarter.
Gross margin was 12.4%, down 2.3 points from Q4 FY25. Operating profit was $0.05B, a 2.2% margin (down 3.4 points year over year). Operating expenses grew 3% against a revenue fall of 8%. Net earnings were $0.04B, down 68% year over year. The effective tax rate was 20.2%.
Operating cash flow was $0.24B (down 6% year over year), 591% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items added $0.13B. Capital expenditures of $0.05B left free cash flow of $0.19B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q4 FY26 | 10-K | Sep 22, 2026 | $2.3B | -8% | 2.2% | $41.3M | $244M |
| Q3 FY26 | 10-Q | Jun 3, 2026 | $2.8B | -4% | 4.8% | $97.2M | $234M |
| Q2 FY26 | 10-Q | Mar 3, 2026 | $2.1B | +5% | 1.0% | $17.8M | −$112M |
| Q1 FY26 | 10-Q | Dec 3, 2025 | $2.4B | +12% | 1.4% | $23.2M | −$44.9M |
| Q4 FY25 | 10-K | Sep 24, 2025 | $2.5B | -0.4% | 5.7% | $127M | $259M |
| Q3 FY25 | 10-Q | Jun 4, 2025 | $2.9B | +3% | 5.4% | $135M | $258M |
| Q2 FY25 | 10-Q | Mar 5, 2025 | $2.0B | -9% | -0.1% | −$3.1M | $30.8M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- CWH — 34% of its revenue · Stated in 10-K (sentence) · source
- Freedom Roads, LLC — 13% of its revenue · Stated in 10-K (XBRL) · source
Buys from
About Thor Industries
Our Company was founded in 1980 and has grown to become the largest manufacturer of recreational vehicles (“RVs”) in the world. We are also the largest manufacturer of RVs in North America, and one of the largest manufacturers of RVs in Europe. The Company manufactures a wide variety of RVs in the United States (“U.S.”) and Europe, and sells those vehicles, as well as related parts and accessories, primarily to independent, non-franchise dealers throughout the United States, Canada and Europe. We are incorporated in Delaware and are the successor to a corporation of the same name which was incorporated in Nevada on July 29, 1980. Our principal executive office is located at 52700 Independence Ct., Elkhart, Indiana 46514 and our telephone number is (574) 970-7460. Our Internet address is www.thorindustries.com .
In its own words, from its annual report, filed Sep 24, 2025.
Thor Industries against its Motor Homes peers
The largest companies of the same SEC industry, each at its latest quarter.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| THO Thor Industries | Q4 FY26 | $2.3B | -8% | 2.2% |
| WGO Winnebago Industries | Q4 FY26 | $645M | -17% | 2.7% |
Source: Thor Industries 10-K on SEC EDGAR · CIK 730263 · Motor Homes
Guidance and outlook
13F: who owns THO and who is buying
More on THO
History
Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results