Harley-Davidson, Inc. (HOG) vs Thor Industries, Inc. (THO)

Harley-Davidson, Inc. and Thor Industries, Inc. are both Recreational Vehicles companies. Thor Industries, Inc. is the larger, with a market value of $3.7B against $2.7B — 1.4× the size. Harley-Davidson, Inc. trades at the lower P/E: 15.1× against 21.2×. Thor Industries, Inc. grew revenue faster over the last twelve months: 0.30% against −5.25%. Harley-Davidson, Inc. has the higher net margin (4.78% vs 1.85%) and the higher return on invested capital (3.85% vs 2.65%). Both pay a dividend; Harley-Davidson, Inc. yields more (2.13% vs 1.21%). Across the 22 metrics below, Harley-Davidson, Inc. leads on 15 and Thor Industries, Inc. on 7.

Valuation

Metric HOG THO Recreational Vehicles median
P/E 15.15 21.23 17.55
P/S 0.63 0.39 0.53
P/B 0.86 0.89 0.91
Price to free cash flow n/m 15.96 10.77
EV/EBITDA 7.25 8.91 9.09
EV/Sales 0.71 0.43 0.63
Earnings yield 6.60% 4.71% 0.15%
Free cash flow yield (4.97%) 6.27% 6.30%

Profitability

Metric HOG THO Recreational Vehicles median
Gross margin 26.89% 12.62% 22.03%
Operating margin 5.03% 2.05% 0.17%
Net margin 4.78% 1.85% (0.15%)
Free cash flow margin (3.14%) 2.46% 4.02%
Return on equity 6.31% 4.15% 0.16%
Return on assets 2.10% 2.53% 0.10%
Return on invested capital 3.85% 2.65% 0.16%

Growth

Metric HOG THO Recreational Vehicles median
Revenue growth (TTM) (5.25%) 0.30% 4.05%
EPS growth (last fiscal year) (19.19%) (30.85%) —
Revenue growth, 5-year CAGR 1.99% (4.85%) 4.29%
Net income growth, 5-year CAGR 204.31% (23.09%) 0.00%

Health

Metric HOG THO Recreational Vehicles median
Debt to equity 0.72 0.20 0.48
Current ratio 1.90 1.77 1.81
Net debt to EBITDA (0.20) 0.83 0.53

Dividend

Metric HOG THO Recreational Vehicles median
Dividend yield 2.13% 1.21% 1.87%
Payout ratio 0.12 0.26 0.05

Size

Metric HOG THO Recreational Vehicles median
Market cap 2.66b 3.66b 628.11m

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