THOR INDUSTRIES INC (THO)

Motor Homes

Latest Price

$71.32

TTM P/E

14.38

Normalized P/E

8.48

Div Yield

2.89%

Book Value

82.10

P/B Ratio

0.87

Valuation metrics

EPS: $4.84

Book value / share: $80.31

Formula: √(22.5 × EPS × BVPS)

Graham Number

$93.52

+31% upside

Norm. op. income: $380M (median of 7yr)

Tax rate: 22%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$49.22

31% downside

Base FCF: $456M (median of recent 5yr)

Growth: 8%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$172.25

+142% upside

EPS: $4.84

Target P/E: 8×

Formula: EPS × P/E

P/E Fair Value

$38.72

46% downside

99.3% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
ACR Alpine Capital Research, LLC	5.53M	$415.0M	10.58%	+624.4K	2026-06-30
BlackRock, Inc.	4.83M	$363.0M	9.25%	+75.7K	2026-06-30
Life Cycle Investment Partners Ltd	4.10M	$308.0M	7.85%	+825.2K	2026-06-30
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC	3.62M	$272.0M	6.94%	-665.2K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	3.09M	$232.0M	5.92%	-56.2K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	2.67M	$200.0M	5.10%	+21.8K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	2.29M	$171.0M	4.37%	+14.9K	2026-06-30
STATE STREET CORP	1.69M	$127.0M	3.23%	+44.1K	2026-06-30
Capital Research Global Investors	1.42M	$106.0M	2.71%	-131.6K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	999.0K	$75.0M	1.91%	+5.4K	2026-06-30