Thor Industries (THO) Gross Margin (2009 - 2026)
Thor Industries (THO) reported Gross Margin of 11.82% for Q1 2026, down 33.0% year-over-year from 17.64% in Q1 2025, and down 12.03% on a QoQ basis from 13.43% in Q4 2025.
Thor Industries (THO) has 18 years of Gross Margin data on file, last reported at 11.82% in Q1 2026.
- Quarterly Gross Margin fell 33.0% year-over-year to 11.82% in Q1 2026, while the trailing twelve-month figure through Jan 2026 was 13.95% (down 26.0% YoY) and the FY2025 annual result came in at 13.99%, down 46.0% from the prior year.
- Gross Margin fell 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.
- The 5-year median for Gross Margin is 14.7% (2025), against an average of 14.54%.
- The widest annual swing landed in 2022, when Gross Margin soared 273 bps; it then plunged 537 bps in 2023.
- Tracing THO's Gross Margin over 5 years: stood at 15.65% in 2022, then slipped by 9 bps to 14.31% in 2023, then retreated by 8 bps to 13.13% in 2024, then rose by 2 bps to 13.43% in 2025, then dropped by 12 bps to 11.82% in 2026.
- Per Business Quant, the three latest THO Gross Margin figures stand at 11.82% (Q1 2026), 13.43% (Q4 2025), and 14.7% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Brunswick | 5.48 Bn | 5.20 Bn | 343.60 Mn | 24.93% |
| 2 | Thor Industries | 4.17 Bn | 3.93 Bn | 251.25 Mn | 11.82% |
| 3 | Polaris | 4.05 Bn | 3.77 Bn | - | - |
| 4 | Brp | 3.05 Bn | 2.70 Bn | 398.91 Mn | 22.53% |
| 5 | Patrick Industries | 2.94 Bn | 2.90 Bn | 226.86 Mn | 22.75% |
| 6 | Harley-Davidson | 2.66 Bn | 2.68 Bn | 266.45 Mn | 25.12% |
| 7 | Lci Industries | 2.64 Bn | 2.50 Bn | 273.67 Mn | 25.09% |
| 8 | Winnebago Industries | 837.26 Mn | 789.86 Mn | 85.60 Mn | 13.02% |
| 9 | Malibu Boats | 526.29 Mn | 480.05 Mn | 41.28 Mn | 17.51% |
| 10 | MasterCraft Boat Holdings | 376.07 Mn | 291.65 Mn | 19.54 Mn | 24.99% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Apr 30, 2021 | 14.61% |
| Jan 31, 2021 | 15.21% |
| Oct 31, 2020 | 14.93% |
| Jul 31, 2020 | 14.94% |
| Apr 30, 2020 | 12.23% |
| Jan 31, 2020 | 12.80% |
| Oct 31, 2019 | 14.30% |
| Jul 31, 2019 | 14.35% |
| Apr 30, 2019 | 11.67% |
| Jan 31, 2019 | 10.97% |
| Oct 31, 2018 | 11.80% |
| Jul 31, 2018 | 13.04% |
| Apr 30, 2018 | 14.07% |
| Jan 31, 2018 | 13.71% |
| Oct 31, 2017 | 14.93% |
| Jul 31, 2017 | 15.57% |
| Apr 30, 2017 | 14.58% |
| Jan 31, 2017 | 13.33% |
| Oct 31, 2016 | 13.86% |
| Jul 31, 2016 | 17.28% |
| Apr 30, 2016 | 15.73% |
| Jan 31, 2016 | 15.26% |
| Oct 31, 2015 | 14.77% |
| Jul 31, 2015 | 16.19% |
| Apr 30, 2015 | 14.19% |
| Jan 31, 2015 | 11.97% |
| Oct 31, 2014 | 12.76% |
| Jul 31, 2014 | 14.65% |
| Apr 30, 2014 | 13.57% |
| Jan 31, 2014 | 11.07% |
| Oct 31, 2013 | 13.15% |
| Jul 31, 2013 | 15.33% |
| Apr 30, 2013 | 13.40% |
| Jan 31, 2013 | 10.61% |
| Oct 31, 2012 | 12.12% |
| Jul 31, 2012 | 17.07% |
| Apr 30, 2012 | 11.82% |
| Jan 31, 2012 | 9.95% |
| Oct 31, 2011 | 11.14% |
| Jul 31, 2011 | -4.26% |
| Apr 30, 2011 | 12.73% |
| Jan 31, 2011 | 9.05% |
| Oct 31, 2010 | 12.62% |
| Jul 31, 2010 | 14.28% |
| Apr 30, 2010 | 13.60% |
| Jan 31, 2010 | 11.63% |
| Oct 31, 2009 | 13.88% |