LCI INDUSTRIES (LCII) FY2025 10-K Annual Report
LCI INDUSTRIES (LCII) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
LCI INDUSTRIES FY2025 10-K Analysis
Business Overview
- • Core business: global engineered components supplier for outdoor recreation, transportation, marine, housing industries with OEM and aftermarket focus
- • New service launch: Lippert Factory Service network for expert installation, service, repairs, and upfits in aftermarket segment
- • Strategic shift: increased emphasis on adjacent industries and aftermarket expansion alongside North American RV market leadership
- • Quantitative highlight: consolidated net sales $4.1B in 2025, up 10% YoY; net income $188.3M, EPS $7.57 vs $142.9M, $5.60 in 2024
- • Noteworthy fact: $124.5M of 2025 sales from acquisitions completed in 2024 and 2025, supporting growth and diversification
Management Discussion & Analysis
- • Revenue $4.12B in 2025, up 10% YoY from $3.74B; driven by acquisitions ($124.5M), higher sales prices, and RV market growth
- • Operating margin 6.8% in 2025 vs 5.8% in 2024; OEM margin 5.8% vs 3.7%, Aftermarket margin 10.3% vs 12.6%
- • OEM Segment best performer: sales $3.19B (+12%), operating profit $184.1M (+$77M); Aftermarket worst: sales $932.4M (+6%), operating profit $95.8M (-$15.4M)
- • Cash flow: Operating cash flow $331M (down from $370M); Capex $52.6M; Acquisitions $112.7M; Share repurchases $128.6M; Dividends $114M
- • 2026 outlook: Capital expenditures $60-$80M; effective tax rate ~25-27%; risk from tariffs, material costs, and automotive aftermarket volume declines
Risk Factors
- • Cybersecurity risk oversight by Board Risk Committee with VP of Global Information Security reporting periodic and annual updates
- • Key-person dependency on VP of Global Information Security with 20+ years of experience and CISSP certification
- • Cybersecurity risk management involves internal staff plus retained external cybersecurity consultants
- • Cyber threat monitoring includes intelligence from governmental, public, and private sources plus security tool alerts
LCI INDUSTRIES FY2025 Key Financial MetricsXBRL
Revenue
$4.1B
▲ +10.2% YoY
Net Income
$188M
▲ +31.8% YoY
Gross Margin
23.8%
▲ +27bp YoY
Operating Margin
6.8%
▲ +96bp YoY
Net Margin
4.6%
▲ +75bp YoY
ROE
13.8%
▲ +353bp YoY
Total Assets
$3.2B
▲ +9.7% YoY
EPS (Diluted)
$7.57
▲ +35.2% YoY
Operating Cash Flow
$331M
▼ -10.6% YoY
Source: XBRL data from LCI INDUSTRIES FY2025 10-K filing on SEC EDGAR. All figures in USD.
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