Short answer
WINNEBAGO INDUSTRIES INC (WGO) filed its fiscal 2025 10-K annual report with the SEC on Oct 22, 2025. It reported revenue of $2.8B (−5.9% year over year) and net income of $26M.
- Top risk flagged: Regulatory risk tied to NIST Cybersecurity Framework compliance impacting cybersecurity program design
FY2025 key financial metrics · XBRL
- Revenue
- $2.8B
- −5.9% YoY
- Net income
- $26M
- +97.7% YoY
- Operating margin
- 2.0%
- −1.3 pp YoY
- Gross margin
- 13.0%
- −1.5 pp YoY
- EPS (diluted)
- $0.91
- +106.8% YoY
- ROE
- 2.1%
- +1.1 pp YoY
- Operating cash flow
- $129M
- −10.4% YoY
Source: XBRL data from the WINNEBAGO INDUSTRIES INC (WGO) FY2025 10-K on SEC EDGAR. USD.
WINNEBAGO INDUSTRIES INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Manufacturing and selling outdoor lifestyle products including towable and motorhome RVs, marine boats, and specialty commercial vehicles
- New emphasis: Acquisition of Lithionics Battery LLC in April 2023, expanding into advanced lithium-ion battery solutions with proprietary NeverDie® Technology
- Strategic shift: Integration of battery solutions to support residential power features, enhancing product differentiation in RV, marine, and specialty vehicle markets
- Notable metric: Diverse RV product pricing from $20,000 up to $1,717,000; expanded manufacturing footprint including plants in Indiana, Iowa, Florida
- Unusual fact: Battery solutions segment added via 2023 acquisition, marking a significant move into energy solutions complementing traditional product lines
Management Discussion & Analysis
- Revenue $2,798.2M, down 5.9% YoY from $2,973.5M, decline driven by lower unit volume and reduced average selling price
- Operating income $57.2M (2.0% margin) vs $100.2M (3.4% margin), down 42.9% due to deleverage and higher warranty costs
- Best segment: Barletta marine and Grand Design motorhome investments noted; worst impact on Winnebago motorhome business from volume declines
- Net income $25.7M, up 98.1% from $13.0M, aided by an absence of goodwill impairment and lower tax provision ($4.4M vs $25.4M)
- Management cautious due to inflation, rates, consumer confidence; expects demand stabilization and dealer ordering normalization; monitoring tariff risks
Risk Factors
- Regulatory risk tied to NIST Cybersecurity Framework compliance impacting cybersecurity program design
- Macro risk from evolving cyber threats despite no material incidents in fiscal 2025
- Operational risk from reliance on third-party service providers for cybersecurity, monitored via contractual obligations
- Competitive risk from potential cybersecurity breaches affecting company reputation and market position
- Structural risk of key-person dependency on Vice President of Information Security leading cybersecurity program since 2021
Generated from the filing text; verify against the original. How to read a 10-K
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