4 models fit Thor Industries Inc. Common Stock and they disagree: 1 of 4 land within 15% of the average. The price is below every model.
Two or more of our models back this value.
Large discount(i)Silver60
Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, Discounted cash flow, and Graham number.
ACCE opinionThor Industries Inc. Common Stock (THO)
Fair value (4 models)
$108
ACCE price target
$66.00
Rating
Undervalued
Horizon
12 months
Fair value published on 18 Oct 2026, 16:04 CEST; previously $106 since 14 Oct 2026, 00:00 CEST.
ACCE price target published on 11 Oct 2026, 00:00 CEST.
Rating published on 18 Oct 2026, 16:04 CEST.
Price used: $70.10 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
34.8% below
+53.4% to fair value
ACCE score
33
out of 100
Analysts
29% buy
17 covering
P/E
20.7x
forward 15.6x
1-year return
-35.7%
Dividend yield
2.94%
Thor Industries Inc. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Thor Industries builds recreational vehicles, including towable travel trailers, motorhomes and specialty vehicles sold through independent dealers across North America and Europe, with brands such as Airstream, Jayco and Heartland. The company's scale as the largest RV manufacturer in the US gives it purchasing and dealer-network advantages, but the cyclicality of discretionary leisure spending dominates its results. Revenue fell 8.4% over the latest reported period, and a 12.6% gross margin and 2.2% operating margin leave little cushion against further volume declines, so any recovery in dealer restocking or interest rates would be the main near-term swing factor. At 16.4x forward earnings versus 20.2x trailing, the market is pricing in a meaningful earnings rebound, and the 4.1% return on equity shows how far current profitability sits from that. The name scores 34/100 and sits outside major index memberships, which fits a cyclical story that has not yet shown evidence of a turn. It is worth a deeper look only if the work supports a credible path back to normalized margins.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
high
Earnings and revenue contracting
Revenue fell 8.4% year over year and earnings fell 66.5%, with a 5-year revenue CAGR of -4.8%. Operating margin of 2.2% leaves little cushion if the downturn continues.
moderate
Heavy short interest
Short interest stands at 14.6%, and the ACCE score slipped from 39 to 34 over the past 90 days. Insider sales of $1.41M outweighed $0.46M in buys over the last 10 disclosed trades.
AI research notes
AI-assisted·How I use AIWritten Oct 13, 2026 · figures from 2026-07-31 · prices to Oct 23, 2026
Why it could do well
Free cash flow of $169M over the last twelve months gives a 5.1% yield at the current price.
The consensus fair value of $117.56 sits 83.8% above the share price, and all four valuation models agree on that direction.
At a forward P/E of 13.2x, the stock trades below the sector median of 17.4x, and the share count fell 1.6% last year.
Why it could disappoint
Revenue fell 8.4% in the last year and has declined 4.8% a year on average over five years.
Net margin of 1.8% and return on equity of 4.1% leave little profit for shareholders from each dollar of sales.
Earnings per share missed expectations by 16.1% in the latest quarter, with 0.78 reported against 0.93 expected.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Dec 2, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where THO's valuation models land
Price
$70.10
Model fair value
$108
Model range
$79.21 to $141
Fair value $108
Price $70.10
The price is below the whole model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
Graham number
P/E comparison
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Quality
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