Short answer

Thor Industries Inc (THO) filed its fiscal 2017 10-K annual report with the SEC on Sep 27, 2017. It reported revenue of $7.2B and net income of $374M.

Top risk flagged: NHTSA recall authority under the National Traffic and Motor Vehicle Safety Act, creating vehicle recall and repair exposure

FY2017 key financial metrics · XBRL

Revenue: $7.2B
Net income: $374M
Gross margin: 14.4%
EPS (diluted): $7.09
ROE: 23.7%
Operating cash flow: $419M

Source: XBRL data from the Thor Industries Inc (THO) FY2017 10-K on SEC EDGAR. USD.

Thor Industries Inc FY2017 10-K analysis

AI summary of each section, grounded in the filing text

Business Overview

North America’s largest RV manufacturer, producing towable and motorized recreational vehicles for independent dealers
Jayco acquisition fully reflected, expanding towable and motorized offerings through Jayco, Starcraft, Highland Ridge and Entegra Coach
Net sales reached $7,246,952, including towables $5,127,491 and motorized vehicles $1,971,466
Backlog nearly doubled, towables up 92.7% to $1,416,240 and motorized up 98.3% to $915,559
Combined market share reached 50.7% for travel trailers and fifth wheels, and 39.6% for motorhomesETwitter

Management Discussion & Analysis

Revenue $7,246,952, up $2,664,840 or 58.2% YoY, with Jayco contributing $1,814,048
Gross margin 14.4% vs 15.9%; pretax margin 7.7% vs 8.4%
Best segment, towables: revenue $5,127,491, up 53.6%; pretax margin 9.0% vs 9.6%
Worst segment, motorized: revenue $1,971,466, up 80.2%; pretax margin 6.4% vs 8.1%
Operating cash flow $419,333; capex $115,027; dividends $69,409; debt payments $215,000; fiscal 2018 capex outlook approximately $175,000

Risk Factors

NHTSA recall authority under the National Traffic and Motor Vehicle Safety Act, creating vehicle recall and repair exposure
FreedomRoads accounted for 20% of fiscal 2017 consolidated net sales, creating dealer concentration risk
Northern Indiana operational concentration, exposing production to skilled-labor shortages and regional natural disasters
LCI Industries supplied key components including windows, doors, axles and slide-out mechanisms, creating supplier dependency
$500 million secured credit facility, with covenant breaches potentially restricting dividends and other transactions

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