THO THOR INDUSTRIES INC

Overview and Growth

Fiscal 2026 results for THOR INDUSTRIES INC combined $9.61B of revenue with net income of $177.54M and an operating cash inflow of $321.22M. The $9.61B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $9.58B in fiscal 2025, revenue recorded a 0.3% year-over-year increase. Diluted earnings per share were $3.38, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS decreased by 30.2% from $4.84 in fiscal 2025, showing how the earnings change reached shareholders on a per-share basis. The company employed $6.96B of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 1.38x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $1.21B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 12.6% of revenue, quantifying the portion retained before operating expenses were recognized. After all reported below-operating-line items, the company recorded net income of $177.54M for the fiscal year. Measured against reported revenue, net income produced a 1.8% margin after operating costs and the remaining recognized items. The earnings statement records $238.72M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 2.5%, relating income before taxes directly to revenue. The reported income-tax provision was $64.07M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 26.8%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end equity was 4.2%, relating annual net income to the equity capital on the balance sheet. Net income represented 2.6% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

At period end, the $6.96B asset base was financed through $2.70B of liabilities and $4.26B of equity. Current assets were $2.74B against $1.55B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 1.77x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $481.99M in cash and equivalents, a narrower liquidity measure than total current assets. Measured only with cash and equivalents, coverage of current liabilities was 31.1%, excluding receivables and other current assets. The company carried $867.96M of total debt at period end, which frames its leverage and debt-service burden. The debt-to-equity relationship was 0.2x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 12.5%, comparing borrowing with the total asset balance. Liabilities represented 38.8% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 6.9%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 1.5% from $7.07B in fiscal 2025, leaving current total assets lower year over year. Reported equity changed 0.7% from $4.29B in fiscal 2025, placing the current capital base lower year over year. Cash and equivalents were 17.8% lower than fiscal 2025 cash of $586.60M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was $321.22M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 1.81x of net income, showing how strongly accounting earnings converted into cash from operations.

Based on the annual report for the fiscal year ending Jul 31, 2026. Analysis generated Oct 21, 2026.