Thor Industries, Inc.
THO Consumer Cyclical Recreational Vehicles
Thor Industries, Inc.’s revenue for fiscal 2026 (year ended July 2026) was $9.6 billion, roughly unchanged from fiscal 2025. In the quarter to July 2026, revenue fell 8.41%, EPS fell 67.0%, free cash flow fell 26.7% and total debt fell 5.96%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
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Thor Industries, Inc. (THO) Altman Z-score
Thor Industries, Inc.'s Altman Z-score for fiscal 2026 is 3.45, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 3.45 | (0.16) |
| FY2025 | 3.62 | (0.20) |
| FY2024 | 3.81 | (0.08) |
| FY2023 | 3.90 | (0.65) |
| FY2022 | 4.55 | 0.42 |
| FY2021 | 4.13 | 0.73 |
| FY2020 | 3.39 | 0.68 |
| FY2019 | 2.71 | (5.86) |
| FY2018 | 8.57 | 0.52 |
| FY2017 | 8.04 | 2.23 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.17 | — | 0.21 | |
| Retained earnings / total assets | 0.64 | — | 0.90 | |
| EBIT / total assets | 0.03 | — | 0.09 | |
| Market value of equity / total liabilities | 1.46 | — | 0.87 | |
| Sales / total assets | 1.38 | — | 1.38 | |
| Altman Z-score | Safe zone | 3.45 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 5.07 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| LCII LCI Industries compare | 3.5× |
| THO Thor Industries, Inc. | 3.5× |
| MCFT MASTERCRAFT BOAT HOLDINGS, INC. compare | 3.4× |
| WGO Winnebago Industries, Inc. compare | 3.4× |
| PATK Patrick Industries, Inc. compare | 3.3× |
| BC Brunswick Corporation compare | 2.8× |
| DOO BRP Inc. compare | 2.5× |
| HOG Harley-Davidson, Inc. compare | 2.1× |
| PII Polaris Inc. compare | 1.6× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets