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How Thor Industries (THO) makes money
Thor Industries (THO) made $2.3B of revenue in the fourth quarter fiscal 2026 (Q4 FY26), -8% from a year earlier. Of every dollar of revenue, 12¢ was left as gross profit, 2¢ was left as operating profit, 2¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q4 FY26 | % of revenue |
|---|---|---|
| Revenue | $2.3B | 100.0% |
| Cost of revenue | $2.0B | 87.6% |
| Gross profit | $286M | 12.4% |
| Operating expenses | $234M | 10.1% |
| Operating profit | $51.8M | 2.2% |
| Income tax | $10.5M | 0.5% |
| Net earnings | $41.3M | 1.8% |
| Operating cash flow | $244M | 10.6% |
| Free cash flow | $190M | 8.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q4 FY26 | $2.3B | -8% |
| Q3 FY26 | $2.8B | -4% |
| Q2 FY26 | $2.1B | +5% |
| Q1 FY26 | $2.4B | +12% |
| Q4 FY25 | $2.5B | -0.4% |
| Q3 FY25 | $2.9B | +3% |
| Q2 FY25 | $2.0B | -9% |
From Thor Industries' 10-K filed Sep 22, 2026 (on EDGAR).
Questions
How does Thor Industries make money?
Thor Industries (THO) made $2.3B of revenue in the fourth quarter fiscal 2026 (Q4 FY26), -8% from a year earlier. Of every dollar of revenue, 12¢ was left as gross profit, 2¢ was left as operating profit, 2¢ was left as net earnings.
What is Thor Industries' profit margin?
Net earnings were $41.3M, 1.8% of revenue, in the fourth quarter fiscal 2026; the operating margin was 2.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.