Thor Industries (THO) Gross Margin (2009 - 2026)
Thor Industries (THO) posted quarterly Gross Margin of 11.82% for Q1 2026, down 33.0% year-over-year from 17.64% in Q1 2025, and down 12.03% quarter-over-quarter from 13.43% in Q4 2025.
Thor Industries (THO) Gross Margin (2009 - 2026) Analysis & Trends
Thor Industries (THO) has reported Gross Margin for 18 consecutive years, with 11.82% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin fell 33.0% year-over-year to 11.82%; the TTM figure through Jan 2026 stood at 13.95% (down 26.0% YoY), while the FY2025 annual figure was 13.99%, down 46.0% from the prior year.
- Gross Margin slipped to 11.82% in Q1 2026 per THO's latest filing, from 13.43% in the prior quarter.
- Across five years, Gross Margin topped out at 17.48% in Q3 2022 and bottomed at 11.82% in Q1 2026.
- Historically, Gross Margin has averaged 14.54% across 5 years, with a median of 14.7% in 2025.
- Annual changes were most pronounced in 2022 — Gross Margin surged 273 bps — and 2023, when it slumped 537 bps.
- Thor Industries' Gross Margin stood at 15.65% in 2022, then fell by 9 bps to 14.31% in 2023, then dropped by 8 bps to 13.13% in 2024, then climbed by 2 bps to 13.43% in 2025, then retreated by 12 bps to 11.82% in 2026.
- Business Quant data shows THO's Gross Margin at 11.82% in Q1 2026, 13.43% in Q4 2025, and 14.7% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Brp | 4.87 Bn | 4.32 Bn | 409.69 Mn | 23.48% |
| 2 | Thor Industries | 4.09 Bn | 3.72 Bn | 354.77 Mn | 12.75% |
| 3 | Polaris | 3.70 Bn | 3.39 Bn | - | - |
| 4 | Harley-Davidson | 2.89 Bn | 998.64 Mn | 421.12 Mn | 34.23% |
| 5 | Patrick Industries | 2.71 Bn | 2.68 Bn | 247.58 Mn | 23.77% |
| 6 | Lci Industries | 2.54 Bn | 2.33 Bn | 301.14 Mn | 31.09% |
| 7 | Brunswick | 1.55 Bn | 1.24 Bn | 437.80 Mn | 28.10% |
| 8 | Winnebago Industries | 909.85 Mn | 852.75 Mn | 94.90 Mn | 13.58% |
| 9 | Malibu Boats | 553.51 Mn | 503.34 Mn | 41.28 Mn | 17.51% |
| 10 | MasterCraft Boat Holdings | 404.21 Mn | 319.59 Mn | 19.54 Mn | 24.99% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 12.75% |
| Jan 31, 2026 | 11.82% |
| Oct 31, 2025 | 13.43% |
| Jul 31, 2025 | 14.70% |
| Apr 30, 2025 | 15.31% |
| Jan 31, 2025 | 12.15% |
| Oct 31, 2024 | 13.13% |
| Jul 31, 2024 | 15.84% |
| Apr 30, 2024 | 15.06% |
| Jan 31, 2024 | 12.27% |
| Oct 31, 2023 | 14.31% |
| Jul 31, 2023 | 14.40% |
| Apr 30, 2023 | 14.77% |
| Jan 31, 2023 | 12.06% |
| Oct 31, 2022 | 15.65% |
| Jul 31, 2022 | 17.48% |
| Apr 30, 2022 | 17.34% |
| Jan 31, 2022 | 17.43% |
| Oct 31, 2021 | 16.56% |
| Jul 31, 2021 | 16.59% |