Polaris Inc. (PII) vs Winnebago Industries, Inc. (WGO)

Polaris Inc. and Winnebago Industries, Inc. are both Recreational Vehicles companies. Polaris Inc. is the larger, with a market value of $3.0B against $696.8M — 4.3× the size. Polaris Inc. has negative trailing earnings, so its P/E is not meaningful; Winnebago Industries, Inc. trades at 17.2×. Polaris Inc. grew revenue faster over the last twelve months: 8.43% against 3.44%. Winnebago Industries, Inc. has the higher net margin (1.36% vs −3.50%) and the higher return on invested capital (2.65% vs −4.84%). Both pay a dividend; Winnebago Industries, Inc. yields more (6.04% vs 5.25%). Across the 22 metrics below, Winnebago Industries, Inc. leads on 18 and Polaris Inc. on 4.

Valuation

Metric PII WGO Recreational Vehicles median
P/E n/m 17.17 16.59
P/S 0.40 0.23 0.46
P/B 3.53 0.54 0.89
Price to free cash flow 44.35 3.55 10.19
EV/EBITDA 65.25 8.41 8.43
EV/Sales 0.69 0.39 0.63
Earnings yield (8.91%) 5.82% 0.16%
Free cash flow yield 2.25% 28.16% 6.91%

Profitability

Metric PII WGO Recreational Vehicles median
Gross margin 21.19% 13.00% 22.03%
Operating margin (2.55%) 2.42% 0.17%
Net margin (3.50%) 1.36% (0.15%)
Free cash flow margin 0.90% 6.56% 4.02%
Return on equity (25.65%) 3.14% 0.16%
Return on assets (4.92%) 1.85% 0.10%
Return on invested capital (4.84%) 2.65% 0.16%

Growth

Metric PII WGO Recreational Vehicles median
Revenue growth (TTM) 8.43% 3.44% 4.05%
EPS growth (last fiscal year) (519.49%) 106.82% (7.99%)
Revenue growth, 5-year CAGR 2.63% 3.50% 4.29%
Net income growth, 5-year CAGR 0.00% (16.00%) 0.00%

Health

Metric PII WGO Recreational Vehicles median
Debt to equity 2.28 0.36 0.48
Current ratio 1.20 2.37 1.81
Net debt to EBITDA (21.97) 3.03 0.53

Dividend

Metric PII WGO Recreational Vehicles median
Dividend yield 5.25% 6.04% 3.11%
Payout ratio — 1.04 0.50

Size

Metric PII WGO Recreational Vehicles median
Market cap 3.01b 696.82m 585.72m

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