$THO

THOR INDUSTRIES INC

CIK:0000730263|SEC Filings

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2024
Income Statement [Abstract]
Net sales	$ 9,608,145	$ 9,579,490	$ 10,043,408
Cost of products sold	8,395,515	8,238,849	8,591,446
Gross profit	1,212,630	1,340,641	1,451,962
Selling, general and administrative expenses	903,396	922,554	895,531
Amortization of intangible assets	112,159	119,027	132,544
Interest expense, net	36,836	48,441	88,666
Other income, net	78,482	45,572	13,623
Income before income taxes	238,721	296,191	348,844
Income taxes	64,067	39,600	83,444
Net income	174,654	256,591	265,400
Less: Net income (loss) attributable to non-controlling interests	(2,885)	(1,968)	92
Net income attributable to THOR Industries, Inc.	$ 177,539	$ 258,559	$ 265,308
Weighted-average common shares outstanding:
Basic (in shares)	52,365,109	53,085,577	53,248,488
Diluted (in shares)	52,562,672	53,400,306	53,687,377
Earnings per common share:
Basic (in dollars per share)	$ 3.39	$ 4.87	$ 4.98
Diluted (in dollars per share)	$ 3.38	$ 4.84	$ 4.94
Comprehensive income:
Net income	$ 174,654	$ 256,591	$ 265,400
Other comprehensive income (loss), net of tax
Foreign currency translation gain (loss), net of tax	4,259	99,230	(25,925)
Other income (loss), net of tax	929	1,265	(86)
Total other comprehensive income (loss), net of tax	5,188	100,495	(26,011)
Total comprehensive income	179,842	357,086	239,389
Comprehensive (loss) attributable to non-controlling interest	(2,531)	(5,569)	(760)
Comprehensive income attributable to THOR Industries, Inc.	$ 182,373	$ 362,655	$ 240,149

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2026

Jul. 31, 2025

Jul. 31, 2024

Jul. 31, 2023

Cash flows from operating activities:

Net income

$ 174,654

$ 256,591

$ 265,400

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

154,196

152,180

144,601

Amortization of intangibles

112,159

119,027

132,544

Amortization of debt issuance costs and extinguishment charges

3,835

7,342

18,274

Asset impairment charges

13,232

3,534

Unrealized (gain) loss on fair-value investments

(22,235)

(4,674)

2,937

Deferred income tax expense (benefit)

27,427

(29,502)

(24,970)

Gain on disposition of property, plant and equipment

(36,696)

(24,464)

(9,597)

Stock-based compensation expense

26,578

30,872

37,901

Changes in assets and liabilities:

Accounts receivable

4,272

6,690

(60,153)

Inventories

(73,282)

29,122

236,916

Prepaid income taxes, expenses and other

(27,028)

5,276

(12,569)

Accounts payable

(817)

90,409

(101,910)

Accrued liabilities and other

(27,164)

(63,535)

(85,081)

Long-term liabilities and other

(7,908)

(945)

1,255

Net cash provided by operating activities

321,223

577,923

545,548

Cash flows from investing activities:

Purchases of property, plant and equipment

(152,387)

(122,987)

(139,635)

Proceeds from dispositions of property, plant and equipment

67,875

63,305

24,927

Business acquisitions, net of cash acquired

(9,555)

(7,314)

Other

(31,376)

(4,783)

(24,790)

Net cash used in investing activities

(125,443)

(64,465)

(146,812)

Cash flows from financing activities:

Borrowings on term-loan credit facilities

186,723

Payments on term-loan credit facilities

(56,264)

(205,000)

(340,619)

Borrowings on revolving asset-based credit facilities

23,216

113,502

Payments on revolving asset-based credit facilities

(23,174)

(111,555)

Payments on other debt

(3,425)

(31,993)

(11,152)

Payments of debt issuance costs

(10,480)

Cash dividends paid

(108,765)

(106,130)

(102,137)

Payments on finance lease obligations

(968)

(855)

(755)

Purchase of treasury shares

(115,126)

(52,647)

(68,387)

(12,770)

(14,318)

(16,245)

Short-term financial obligations and other, net

657

(15,363)

23,428

Net cash used in financing activities

(296,619)

(426,306)

(337,677)

Effect of exchange rate changes on cash and cash equivalents

(3,769)

(1,872)

(975)

Net increase (decrease) in cash and cash equivalents

(104,608)

85,280

60,084

Cash and cash equivalents, beginning of period

481,988

586,596

501,316

$ 441,232

Cash and cash equivalents, end of period

481,988

586,596

501,316

$ 441,232

Supplemental cash flow information:

Income taxes paid

^[1]

61,802

108,822

147,126

Interest paid

43,633

58,626

86,421

Non-cash investing and financing transactions:

Capital expenditures in accounts payable

$ 6,303

$ 4,058

$ 5,429

[1]	Refer to Note 13 to the Consolidated Financial Statements for current-year details.

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2026	Jul. 31, 2025
Current assets:
Cash and cash equivalents	$ 481,988	$ 586,596
Accounts receivable, trade, net	486,751	541,713
Accounts receivable, other, net	214,145	165,650
Inventories, net	1,423,117	1,351,796
Prepaid income taxes, expenses and other	133,934	132,220
Total current assets	2,739,935	2,777,975
Property, plant and equipment, net	1,309,504	1,315,728
Other assets:
Goodwill	1,916,330	1,841,118
Amortizable intangible assets, net	684,494	758,758
Deferred income tax assets, net	3,707	35,668
Equity investments	63,815	136,784
Other	238,370	199,253
Total other assets	2,906,716	2,971,581
TOTAL ASSETS	6,956,155	7,065,284
Current liabilities:
Accounts payable	740,546	738,143
Current portion of long-term debt	2,814	3,367
Short-term financial obligations	60,839	60,112
Accrued liabilities:
Compensation and related items	156,884	178,259
Product warranties	273,724	291,130
Income and other taxes	58,479	59,392
Promotions and rebates	173,977	162,477
Product, property and related liabilities	19,777	18,634
Other	63,064	73,182
Total current liabilities	1,550,104	1,584,696
Long-term debt	865,145	919,612
Deferred income tax liabilities, net	49,776	54,404
Unrecognized tax benefits	10,345	12,175
Other liabilities	220,804	204,845
Total long-term liabilities	1,146,070	1,191,036
Contingent liabilities and commitments
Stockholders’ equity:
Preferred stock—authorized 1,000,000 shares; none outstanding	0	0
Common stock—par value of $.10 per share; authorized 250,000,000 shares; issued 67,659,100 and 67,282,807 shares, respectively	6,766	6,728
Additional paid-in capital	635,691	608,481
Retained earnings	4,475,937	4,407,163
Accumulated other comprehensive income, net of tax	15,224	10,390
Less treasury shares of 16,044,739 and 14,649,597, respectively, at cost	(872,160)	(744,264)
Stockholders’ equity attributable to THOR Industries, Inc.	4,261,458	4,288,498
Non-controlling interests	(1,477)	1,054
Total stockholders’ equity	4,259,981	4,289,552
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 6,956,155	$ 7,065,284