Thor Industries Inc THO
Our Company was founded in 1980 and has grown to become the largest manufacturer of recreational vehicles (“RVs”) in the world. 10-K, Item 1
- Employees
- 19,500
- Headquarters
- Elkhart, IN
- CEO
- Robert W. Martin
- Next results
- around Dec 2, 2026
Where each dollar of revenue went, FY2026
Revenue of $9.6B through the costs to a net profit of $177.5M · income statement of the 10-K
THO among Consumer discretionary peers
Six ratios from the latest 10-K. Each corner is the share of 168 peers the company is above, not a score.
What changed
24 new risk paragraphs. 10-K filed Sep 22, 2026 against Sep 24, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
11 checks on the latest 10-K. Checks, not verdicts.
0facts worth reading about all 11 checks found nothing to note
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Receivables -10.1% ($541.7M to $486.8M) vs revenue +0.3% ($9.6B to $9.6B), -10.4 pts apart
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Cash from operations $321.2M vs net income $177.5M (FY ending Jul 31, 2026)
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Inventory +5.3% ($1.4B to $1.4B) vs revenue +0.3% ($9.6B to $9.6B), +5.0 pts apart
8 more checks with nothing to note
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Same auditor in both 10-Ks: Deloitte & Touche LLP
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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The same matters as last year: Valuation of Goodwill - Airxcel Reporting Unit
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
24 paragraphs in Risk Factors that were not in the 10-K filed Sep 24, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Sep 24, 2025 10-K, ITEM 1A
The market price of our common stock may experience significant volatility due to factors both related and unrelated to our operating performance, including changes in economic and industry conditions, interest rates and credit availability, trade and regulatory developments, competitive activity, investor expectations regarding our…
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Item 1A · new paragraph · not in the 10-K filed Sep 24, 2025 10-K, ITEM 1A
Our success depends on our ability to develop, commercialize and market innovative products and technologies. A key driver of our historical performance and growth has been our ability to maintain strong brands and develop and introduce innovative products at competitive costs that meet evolving consumer demand. Technological advances,…
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Item 1A · new paragraph · not in the 10-K filed Sep 24, 2025 10-K, ITEM 1A
Our manufacturing operations require substantial quantities of raw materials and component parts, including aluminum, lumber, petroleum-based products, chassis, electronics, appliances, furniture and other components. The prices of these materials and components are subject to volatility due to inflation, changes in supply and demand,…
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Item 1A · new paragraph · not in the 10-K filed Sep 24, 2025 10-K, ITEM 1A
In addition, increased restrictions have been, and may in the future be, imposed on various products and chemicals utilized in the production of our vehicles. These include a class of chemicals known as per- and polyfluoroalkyl substances ("PFAS") and products containing, or capable of releasing, formaldehyde. PFAS are widely used in…
New risk paragraphs, against peers
Latest 10-K of each, Consumer discretionary companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|
| Revenue | $11.1B | $10.0B | $9.6B | $9.6B |
| Net income | $374.3M | $265.3M | $258.6M | $177.5M |
| Operating cash flow | $981.6M | $545.5M | $577.9M | $321.2M |
| Free cash flow | $772.7M | $405.9M | $456.3M |
Revenue, FY2017 to FY2026
Ten fiscal years, each from its own 10-K · XBRL · USD
$9.6B ▲ 0.3% in FY2026$177.5M ▼ 31.3% in FY2026
Recent filings
No new filings in the last 30 days · SEC EDGAR
Nothing new. The most recent filings:
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8-KOct 13, 2026Other events 8-K item 8.01
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8-KSep 22, 2026Quarterly results, Regulation FD disclosure 8-K items 2.02, 7.01
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10-KSep 22, 2026Annual report (10-K) period ended Jul 31, 2026
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8-KJun 16, 2026Other events 8-K item 8.01
About the company
Thor Industries Inc, Elkhart, IN · from the 10-K filed Sep 22, 2026
Our Company was founded in 1980 and has grown to become the largest manufacturer of recreational vehicles (“RVs”) in the world. We are also the largest manufacturer of RVs in North America, and one of the largest manufacturers of RVs in Europe. The Company manufactures a wide variety of RVs in the United States (“U.S.”) and Europe, and sells those vehicles, as well as related parts and accessories, primarily to independent, non-franchise dealers throughout the United States, Canada and Europe. We are incorporated in Delaware and are the successor to a corporation of the same name which was incorporated in Nevada on July 29, 1980.
- Headquarters
- Elkhart, IN
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- July 31
- Last results
- Sep 22, 2026
- Incorporated in
- DE
Employees, at the top of the page: "At July 31, 2026, we employed approximately 19,500 full-time employees worldwide, including approximately 11,900 full-time employees in the United States, of which approximately 2,000 were salaried, and approximately 7,600 full-time employees in Europe, of which approximately 3,800 were salaried" (10-K). Address and exchange: SEC's company file.
Email alerts
Sources
The 10-K filed Sep 22, 2026 (open at SEC), compared with the 10-K filed Sep 24, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/THO/export.csv") into a cell.