LCI Industries (LCII)
Market Price (7/20/2026): $107.68 | Market Cap: $2.6 BilSector: Consumer Discretionary | Industry: Automotive Parts & Equipment
LCI Industries (LCII)
Market Price (7/20/2026): $107.68Market Cap: $2.6 BilSector: Consumer DiscretionaryIndustry: Automotive Parts & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.8%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%, FCF Yield is 7.7% Low stock price volatilityVol 12M is 36% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech. | Weak multi-year price returns2Y Excs Rtn is -25%, 3Y Excs Rtn is -71% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.2% Key risksLCII key risks include [1] significant customer concentration, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.8%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%, FCF Yield is 7.7% |
| Low stock price volatilityVol 12M is 36% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech. |
| Weak multi-year price returns2Y Excs Rtn is -25%, 3Y Excs Rtn is -71% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.2% |
| Key risksLCII key risks include [1] significant customer concentration, Show more. |
Qualitative Assessment
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LCI Industries (LCII) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Weakening Demand in the RV and Marine Markets. The recreational vehicle (RV) and marine industries, key sectors for LCI Industries, have shown signs of softening demand during the period. A competitor, Dometic, reported a sales decline for fiscal Q2 2026 and anticipates continued weak demand and elevated uncertainty in these markets, indicating a broader industry headwind affecting LCI Industries as a primary supplier.
2. Persistent High Inflation and Elevated Interest Rates Dampening Consumer Discretionary Spending. Macroeconomic factors such as persistent and accelerating inflation, driven partly by a nearly 50% increase in oil prices due to geopolitical tensions and the closure of the Strait of Hormuz since February 28, 2026, have likely eroded consumers' real incomes. Concurrently, the Federal Reserve has maintained elevated interest rates in the range of 3.50-3.75% for fiscal Q2 2026, increasing borrowing costs for large discretionary purchases like RVs and boats and subsequently impacting consumer spending.
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LCI Industries (LCII) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Weakening Demand in the RV and Marine Markets. The recreational vehicle (RV) and marine industries, key sectors for LCI Industries, have shown signs of softening demand during the period. A competitor, Dometic, reported a sales decline for fiscal Q2 2026 and anticipates continued weak demand and elevated uncertainty in these markets, indicating a broader industry headwind affecting LCI Industries as a primary supplier.
2. Persistent High Inflation and Elevated Interest Rates Dampening Consumer Discretionary Spending. Macroeconomic factors such as persistent and accelerating inflation, driven partly by a nearly 50% increase in oil prices due to geopolitical tensions and the closure of the Strait of Hormuz since February 28, 2026, have likely eroded consumers' real incomes. Concurrently, the Federal Reserve has maintained elevated interest rates in the range of 3.50-3.75% for fiscal Q2 2026, increasing borrowing costs for large discretionary purchases like RVs and boats and subsequently impacting consumer spending.
3. Multiple Analyst Price Target Reductions. Several financial analysts adjusted their price targets for LCI Industries downwards within the analysis period, contributing to negative market sentiment. For instance, on June 23, 2026, Benchmark maintained a "Buy" rating but lowered its price target for LCII from $150 to $125. Similarly, in early May 2026, Robert W. Baird reduced its target from $145 to $140, and BMO Capital decreased its target from $155 to $140.
4. Significant Insider Selling Activity. The market has seen substantial insider selling activity, with an estimated $13.14 million in open market sales by company insiders over the last six months. Notably, filings from the CEO, Jason Lippert (June 5, 2026), and the CFO, Lillian Etzkorn (April 20, 2026), are within this period. This significant divestment by executives and directors can be interpreted by investors as a lack of confidence in the company's near-term stock performance.
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Stock Movement Drivers
Fundamental Drivers
The -11.1% change in LCII stock from 3/31/2026 to 7/19/2026 was primarily driven by a -17.2% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7192026 | Change |
|---|---|---|---|
| Stock Price ($) | 121.73 | 108.17 | -11.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,122 | 4,167 | 1.1% |
| Net Income Margin (%) | 4.6% | 4.8% | 6.0% |
| P/E Multiple | 15.7 | 13.0 | -17.2% |
| Shares Outstanding (Mil) | 24 | 24 | 0.1% |
| Cumulative Contribution | -11.1% |
Market Drivers
3/31/2026 to 7/19/2026| Return | Correlation | |
|---|---|---|
| LCII | -11.1% | |
| Market (SPY) | 14.3% | 35.7% |
| Sector (XLY) | 5.9% | 40.6% |
Fundamental Drivers
The -9.1% change in LCII stock from 12/31/2025 to 7/19/2026 was primarily driven by a -19.8% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7192026 | Change |
|---|---|---|---|
| Stock Price ($) | 118.98 | 108.17 | -9.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,992 | 4,167 | 4.4% |
| Net Income Margin (%) | 4.5% | 4.8% | 7.9% |
| P/E Multiple | 16.2 | 13.0 | -19.8% |
| Shares Outstanding (Mil) | 24 | 24 | 0.6% |
| Cumulative Contribution | -9.1% |
Market Drivers
12/31/2025 to 7/19/2026| Return | Correlation | |
|---|---|---|
| LCII | -9.1% | |
| Market (SPY) | 9.3% | 35.4% |
| Sector (XLY) | -3.1% | 40.4% |
Fundamental Drivers
The 23.5% change in LCII stock from 6/30/2025 to 7/19/2026 was primarily driven by a 18.7% change in the company's Net Income Margin (%).| (LTM values as of) | 6302025 | 7192026 | Change |
|---|---|---|---|
| Stock Price ($) | 87.57 | 108.17 | 23.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,819 | 4,167 | 9.1% |
| Net Income Margin (%) | 4.1% | 4.8% | 18.7% |
| P/E Multiple | 14.3 | 13.0 | -9.1% |
| Shares Outstanding (Mil) | 25 | 24 | 4.9% |
| Cumulative Contribution | 23.5% |
Market Drivers
6/30/2025 to 7/19/2026| Return | Correlation | |
|---|---|---|
| LCII | 23.5% | |
| Market (SPY) | 21.3% | 33.0% |
| Sector (XLY) | 6.8% | 42.2% |
Fundamental Drivers
The -3.5% change in LCII stock from 6/30/2023 to 7/19/2026 was primarily driven by a -8.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 6302023 | 7192026 | Change |
|---|---|---|---|
| Stock Price ($) | 112.05 | 108.17 | -3.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,536 | 4,167 | -8.1% |
| Net Income Margin (%) | 4.5% | 4.8% | 6.6% |
| P/E Multiple | 13.7 | 13.0 | -5.3% |
| Shares Outstanding (Mil) | 25 | 24 | 4.1% |
| Cumulative Contribution | -3.5% |
Market Drivers
6/30/2023 to 7/19/2026| Return | Correlation | |
|---|---|---|
| LCII | -3.5% | |
| Market (SPY) | 73.6% | 43.5% |
| Sector (XLY) | 39.1% | 49.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LCII Return | 23% | -38% | 41% | -15% | 23% | -9% | 2% |
| Peers Return | 32% | -23% | 53% | -13% | 6% | -10% | 28% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| LCII Win Rate | 58% | 33% | 58% | 50% | 67% | 29% | |
| Peers Win Rate | 60% | 33% | 50% | 48% | 57% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| LCII Max Drawdown | -18% | -42% | -22% | -21% | -31% | -42% | |
| Peers Max Drawdown | -27% | -38% | -22% | -28% | -34% | -36% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PATK, UFPI, THO, WGO, BC. See LCII Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/17/2026 (YTD)
How Low Can It Go
| Event | LCII | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.4% | -18.8% |
| % Gain to Breakeven | 43.7% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -19.1% | -9.5% |
| % Gain to Breakeven | 23.7% | 10.5% |
| Time to Breakeven | 60 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -10.4% | -6.7% |
| % Gain to Breakeven | 11.6% | 7.1% |
| Time to Breakeven | 36 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.9% | -24.5% |
| % Gain to Breakeven | 63.6% | 32.4% |
| Time to Breakeven | 1183 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -49.8% | -33.7% |
| % Gain to Breakeven | 99.1% | 50.9% |
| Time to Breakeven | 63 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.1% | -19.2% |
| % Gain to Breakeven | 33.5% | 23.8% |
| Time to Breakeven | 25 days | 105 days |
In The Past
LCI Industries's stock fell -30.4% during the 2025 US Tariff Shock. Such a loss loss requires a 43.7% gain to breakeven.
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| Event | LCII | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.4% | -18.8% |
| % Gain to Breakeven | 43.7% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.9% | -24.5% |
| % Gain to Breakeven | 63.6% | 32.4% |
| Time to Breakeven | 1183 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -49.8% | -33.7% |
| % Gain to Breakeven | 99.1% | 50.9% |
| Time to Breakeven | 63 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.1% | -19.2% |
| % Gain to Breakeven | 33.5% | 23.8% |
| Time to Breakeven | 25 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.5% | -17.9% |
| % Gain to Breakeven | 36.1% | 21.8% |
| Time to Breakeven | 79 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -34.2% | -15.4% |
| % Gain to Breakeven | 52.0% | 18.2% |
| Time to Breakeven | 310 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -80.9% | -53.4% |
| % Gain to Breakeven | 423.6% | 114.4% |
| Time to Breakeven | 1060 days | 1085 days |
In The Past
LCI Industries's stock fell -30.4% during the 2025 US Tariff Shock. Such a loss loss requires a 43.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About LCI Industries (LCII)
LCI Industries (LCII) is a leading global manufacturer and supplier of a vast array of engineered components primarily for the recreational vehicle (RV) industry. The company operates through two main segments: Original Equipment Manufacturers (OEM) and Aftermarket. Essentially, LCII provides much of the foundational and accessory content that goes into new RVs and related vehicles, as well as supplying components for repair and upgrades.
The OEM segment is comprehensive, offering products ranging from structural elements like steel chassis, axles, and slide-out mechanisms, to interior furnishings such as furniture, mattresses, bath/kitchen products, appliances, and electronics. They also supply exterior components like windows, doors, leveling systems, awnings, and steps. While RV manufacturers are their core OEM customers (including travel trailers, fifth-wheels, and truck campers), LCII also serves a diverse set of adjacent industries, supplying components to manufacturers of buses, various types of trailers (boat, livestock, equipment), trucks, boats, trains, and manufactured or modular homes.
LCII's Aftermarket segment focuses on supplying replacement parts and accessories to retail dealers, wholesale distributors, and service centers for RVs and adjacent industries. This includes items like replacement glass and awnings, often fulfilling insurance claims. Additionally, the Aftermarket segment serves the marine industry with specialized products such as biminis, covers, buoys, and fenders, expanding LCII's reach beyond its core vehicle manufacturing base into the broader leisure and transportation component market.
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Here are 1-2 brief analogies for LCI Industries (LCII):
- The 'Intel Inside' for the recreational vehicle industry.
- The Foxconn of the RV, boat, and manufactured home industries.
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- Chassis & Suspension Solutions: Manufactures steel chassis, axles, and suspension components essential for recreational vehicles and adjacent industries.
- Slide-out Mechanisms: Provides systems for expanding the interior living space of RVs.
- Interior Components & Furnishings: Offers thermoformed bath/kitchen products, furniture, mattresses, appliances, air conditioners, televisions, and sound systems.
- Windows & Doors: Produces vinyl, aluminum, frameless windows, and various types of entry, luggage, patio, and ramp doors.
- Stabilization & Leveling Systems: Supplies manual, electric, and hydraulic systems to stabilize and level vehicles.
- Entry Steps & Awnings: Manufactures electric and manual entry steps, along with awnings and their accessories.
- Towing & Truck Accessories: Provides products for vehicle towing and various truck enhancements.
- Marine & Specialty Components: Supplies biminis, covers, buoys, fenders, and other components primarily for the marine industry and other adjacent markets.
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Major Customers of LCI Industries (LCII)
LCI Industries primarily sells its products and components to other companies (Business-to-Business or B2B) rather than directly to individual consumers. The company's customer base consists of manufacturers and various distribution and service channels within the recreational vehicle (RV) and adjacent industries.
Based on the provided background information, specific names of major customer companies are not listed. However, its customers fall into the following categories:
- Original Equipment Manufacturers (OEMs): This segment supplies a wide range of components directly to manufacturers of finished products. These OEM customers are involved in the production of:
- Recreational Vehicles (RVs), including travel trailers, fifth-wheel travel trailers, folding camping trailers, and truck campers.
- Buses.
- Various types of trailers (e.g., those used for boats, livestock, equipment, and other cargo).
- Trucks.
- Boats.
- Trains.
- Manufactured homes and modular housing.
- Aftermarket Channels: This segment supplies components for RV and adjacent industries to entities that serve the post-manufacturing market. These customers include:
- Retail dealers.
- Wholesale distributors.
- Service centers.
- The marine industry (for products like biminis, covers, buoys, and fenders).
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Jason Lippert, President and Chief Executive Officer
Jason Lippert is a third-generation leader of LCI Industries, having joined the family company in 1994 and assuming the role of CEO in 2003. He was instrumental in diversifying LCI's brand portfolio and has overseen numerous acquisitions, significantly expanding the company's manufacturing operations. His family's business was acquired in the late 1990s, after which he guided LCI from private to public status, with listings on the AMEX in 1997 and the NYSE in 2001. Mr. Lippert also serves as an Independent Director at Quanex Building Products Corp.
Lillian Etzkorn, Executive Vice President and Chief Financial Officer
Lillian Etzkorn was appointed Executive Vice President and Chief Financial Officer of LCI Industries, effective April 17, 2023. Prior to joining LCI Industries, she served as CFO at Covia, and before that, held financial leadership roles as CFO of Shiloh Industries and CPI Card Group. Ms. Etzkorn also held various senior positions at publicly traded automotive companies, including Dana Holding Corp. and Ford Motor Co., where she began her career in finance.
Andrew Namenye, Executive Vice President, Chief Legal Officer, and Corporate Secretary
Andrew Namenye serves as the Executive Vice President, Chief Legal Officer, and Corporate Secretary for LCI Industries.
Jamie Schnur, Group President - Aftermarket
Jamie Schnur is the Group President for the Aftermarket segment at LCI Industries.
Ryan Smith, Group President - North America
Ryan Smith holds the position of Group President - North America at LCI Industries. His leadership has contributed to significant growth within Lippert, particularly expanding the Interior Division's revenue.
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Here are the key risks to LCI Industries (LCII):
- Cyclicality and Seasonality of the RV and Adjacent Industries: LCI Industries' financial performance is heavily dependent on the health of the recreational vehicle (RV) market and adjacent industries, which are inherently cyclical and seasonal. Economic downturns, changes in consumer confidence, and the availability of wholesale and consumer credit can significantly impact demand for RVs and, consequently, for LCI Industries' components. The company has experienced declining returns and revenues despite increased capital deployment, indicating struggles to maintain growth and profitability amidst challenging market conditions.
- Volatile Raw Material Costs and Supply Chain Risks: The company is exposed to fluctuations in the cost of key raw materials, such as steel and aluminum, which can adversely affect its financial condition and operating results. Additionally, LCI Industries faces supply chain risks, including reliance on a limited number of suppliers for crucial components, some of which are imported, and the impact of changes in global tariff frameworks.
- Customer Concentration: LCI Industries relies on a few major customers, with a significant portion of its consolidated net sales attributed to a small number of key relationships. For instance, two customers accounted for 34% of consolidated net sales in 2024. Any disruption or loss of these significant customer relationships could materially impact the company's sales and financial performance.
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LCI Industries, trading under the symbol LCII, primarily manufactures and supplies components for recreational vehicles (RVs) and adjacent industries such as marine and manufactured housing. The addressable markets for their main products and services are sizable across global and North American regions.
Recreational Vehicle (RV) Market
- The global recreational vehicle market was valued at approximately USD 51.59 billion in 2025 and is projected to reach USD 75.24 billion by 2034, growing at a CAGR of 4.40%. Other estimates place the global market at USD 56.7 billion in 2024, expected to reach USD 82.4 billion by 2034 with a 4% CAGR, or USD 56.35 billion in 2024, projected to reach USD 97.86 billion by 2033 with a CAGR of 6.5%.
- North America is a dominant region in the global RV market. In 2025, the North America market was valued at USD 24.98 billion, and in 2022, it generated a revenue of USD 35,044.0 million. The North America RV market is projected to reach USD 35.03 billion by 2031 with an 8.25% CAGR from 2026 to 2031, or USD 89,293.5 million by 2030 with a CAGR of 12.4% from 2023 to 2030. Another report indicates the North America RV market size was valued at US$ 59.8 billion in 2026 and is projected to reach US$ 83.0 billion by 2033, growing at a CAGR of 4.8%. The U.S. market alone is estimated to reach USD 17.86 billion by 2026.
Marine Industry (Parts, Accessories, and Equipment) Market
- The global recreational boat parts and accessories market is projected to reach USD 23.45 billion by 2034, exhibiting a CAGR of 3.47% from 2025 to 2034.
- North America dominates the Recreational Boat Parts and Accessories Market, accounting for approximately 45% of the global share. The global boat accessory market size reached USD 6.89 billion in 2024 and is expected to grow to USD 10.92 billion by 2033 at a CAGR of 5.2%. North America was the largest regional market for boat accessories, accounting for USD 2.45 billion of the global market in 2024.
- The global watercraft accessories market was valued at USD 8.437.18 million in 2025 and is expected to reach USD 12,586.21 million by 2032, growing at a CAGR of 5.9%. North America holds approximately 20% of this market. Another source states the global watercraft accessories market size was valued at USD 8.2 billion in 2023 and is projected to reach approximately USD 12.9 billion by 2032, with North America holding the largest share (approximately 35% in 2023).
- The global marine deck equipment market size was approximately USD 13650.3 million in 2025 and is projected to reach USD 19215.3 million by 2033, growing at a CAGR of 4.367% from 2025 to 2033. North America held 28.60% of the global market revenue for marine deck equipment in 2025.
- The North America marine engines market is projected to grow from USD 3,747.82 million in 2025 to USD 5,617.76 million by 2035, at a CAGR of 4.17%. The U.S. marine engine market holds a commanding share of approximately 85% of North America's total market value, estimated at USD 3,050.0 million in 2024.
Manufactured Housing Market
- The global manufactured housing market size was valued at USD 27,188 million in 2019 and is projected to reach USD 38,848 million by 2027, registering a CAGR of 6.5%.
- The Manufactured Housing Market is projected to grow at a 4.6% CAGR from 2025 to 2035. North America is the largest market for manufactured housing, accounting for approximately 80% of the global market share.
- The United States manufactured homes market was worth USD 14.6 billion in 2026 and is estimated to reach USD 19.8 billion by 2031, growing at a CAGR of 6.28% from 2026 to 2031.
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Expected Drivers of Future Revenue Growth for LCI Industries (LCII)
Over the next two to three years, LCI Industries (LCII) anticipates several key drivers to fuel its revenue growth:
- Market Share Gains: LCI Industries expects to expand its market share across its core OEM markets, particularly in the RV OEM segment and other OEM end markets such as transportation, marine, and housing. This is attributed to strategic execution and the company's competitive advantages.
- Product Innovation and New Product Launches: A central focus on innovation and the introduction of new products are expected to drive revenue growth. This includes increasing the content supplied per RV unit through new designs and advanced solutions, with recently launched products contributing significantly to annualized revenue.
- Growth in the Aftermarket Segment: The aftermarket segment is projected to experience mid-single-digit growth, supported by a substantial number of recreational vehicles (RVs) entering the repair and replacement cycle. Additionally, the company anticipates growth in automotive aftermarket sales.
- Diversification into Adjacent Industries and Markets: LCI Industries is actively expanding its footprint beyond the traditional RV market into various adjacent industries, including buses, utility trailers, marine, transportation, and residential building products like manufactured housing. This diversification strategy is aimed at unlocking new opportunities and mitigating cyclical impacts. Acquisitions also contribute to this diversification effort.
- Increased Content per RV Unit: The company is focused on increasing the value and number of components it supplies for each RV produced, both towable and motorized. This "content per unit" growth is a direct outcome of successful innovation and market share expansion efforts.
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Share Repurchases
- LCI Industries returned $243 million to shareholders in 2025, which included $129 million in share repurchases.
- The company completed buybacks of 1,060,916 shares since May 2025.
- Ongoing share repurchases are expected in 2026.
Outbound Investments
- LCI Industries utilized $112.7 million for business acquisitions in 2025.
- Key acquisitions in 2025 included Freedman Seating and Trans Air, which expanded the company into bus and transportation markets.
- The company plans to continue evaluating opportunities and remaining active in strategic, smaller tuck-in acquisitions within its core and adjacent markets.
Capital Expenditures
- Capital expenditures totaled $52.6 million for the twelve months ended December 31, 2025.
- For 2026, capital expenditures are projected to be between $60 million and $80 million.
- The focus of these expenditures is on investing in the business to support innovation, product development, and efficiency initiatives, including the consolidation of 8 to 10 facilities in 2026, following 5 consolidations in 2025.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 83.19 |
| Mkt Cap | 3.4 |
| Rev LTM | 4,843 |
| Op Inc LTM | 284 |
| FCF LTM | 201 |
| FCF 3Y Avg | 344 |
| CFO LTM | 306 |
| CFO 3Y Avg | 467 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.0% |
| Rev Chg 3Y Avg | -6.6% |
| Rev Chg Q | 1.8% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Inc Chg LTM | -5.6% |
| Op Inc Chg 3Y Avg | -28.7% |
| Op Mgn LTM | 5.5% |
| Op Mgn 3Y Avg | 6.5% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 6.5% |
| CFO/Rev 3Y Avg | 9.6% |
| FCF/Rev LTM | 4.8% |
| FCF/Rev 3Y Avg | 6.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.4 |
| P/S | 0.7 |
| P/Op Inc | 12.6 |
| P/EBIT | 11.1 |
| P/E | 16.4 |
| P/CFO | 10.2 |
| Total Yield | 6.7% |
| Dividend Yield | 1.9% |
| FCF Yield 3Y Avg | 9.2% |
| D/E | 0.5 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.5% |
| 3M Rtn | -8.9% |
| 6M Rtn | -25.2% |
| 12M Rtn | 0.7% |
| 3Y Rtn | -10.3% |
| 1M Excs Rtn | 2.4% |
| 3M Excs Rtn | -11.1% |
| 6M Excs Rtn | -29.3% |
| 12M Excs Rtn | -19.4% |
| 3Y Excs Rtn | -73.0% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Original equipment manufacturers (OEMs) | 3,190 | 2,860 | 2,904 | 4,316 | 3,644 |
| Aftermarket | 932 | 881 | 881 | 891 | 829 |
| Total | 4,122 | 3,741 | 3,785 | 5,207 | 4,473 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Original equipment manufacturers (OEMs) | 184 | 107 | 17 | 479 | 305 |
| Aftermarket | 96 | 111 | 106 | 74 | 94 |
| Total | 280 | 218 | 123 | 553 | 398 |
| $ Mil | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Original equipment manufacturers (OEMs) | 2,290 | 1,560 | 1,168 | 1,034 | 786 |
| Aftermarket | 836 | 615 | 596 | 130 | 76 |
| Corporate and Other | 162 | 123 | 99 | 80 | 84 |
| Total | 3,288 | 2,298 | 1,863 | 1,244 | 946 |
Price Behavior
| Market Price | $108.17 | |
| Market Cap ($ Bil) | 2.6 | |
| First Trading Date | 05/03/1989 | |
| Distance from 52W High | -29.8% | |
| 50 Days | 200 Days | |
| DMA Price | $103.00 | $114.69 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 5.0% | -5.7% |
| 3M | 1YR | |
| Volatility | 44.1% | 36.3% |
| Downside Capture | 130.12 | 82.75 |
| Upside Capture | 48.07 | 82.91 |
| Correlation (SPY) | 35.3% | 33.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.89 | 1.37 | 1.26 | 1.05 | 0.98 | 1.07 |
| Up Beta | 2.07 | 3.06 | 2.16 | 1.98 | 1.76 | 1.11 |
| Down Beta | 1.41 | 0.80 | 0.82 | 0.71 | 0.62 | 0.78 |
| Up Capture | 19% | 51% | 30% | 52% | 77% | 116% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 12 | 20 | 26 | 54 | 116 | 371 |
| Down Capture | 49% | 152% | 148% | 105% | 86% | 107% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 9 | 21 | 37 | 71 | 135 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LCII | |
|---|---|---|---|---|
| LCII | 16.9% | 36.2% | 0.49 | - |
| Sector ETF (XLY) | 5.8% | 18.7% | 0.17 | 41.9% |
| Equity (SPY) | 20.2% | 12.6% | 1.18 | 33.2% |
| Gold (GLD) | 19.6% | 28.0% | 0.63 | 10.9% |
| Commodities (DBC) | 30.0% | 19.0% | 1.25 | -18.1% |
| Real Estate (VNQ) | 15.7% | 14.0% | 0.81 | 35.3% |
| Bitcoin (BTCUSD) | -46.3% | 42.8% | -1.33 | 6.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LCII | |
|---|---|---|---|---|
| LCII | -0.4% | 39.3% | 0.09 | - |
| Sector ETF (XLY) | 5.6% | 23.9% | 0.20 | 54.5% |
| Equity (SPY) | 12.8% | 17.1% | 0.57 | 51.0% |
| Gold (GLD) | 16.9% | 18.4% | 0.74 | 2.6% |
| Commodities (DBC) | 8.7% | 19.5% | 0.34 | 2.3% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 49.6% |
| Bitcoin (BTCUSD) | 13.6% | 53.5% | 0.44 | 21.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LCII | |
|---|---|---|---|---|
| LCII | 5.5% | 39.9% | 0.26 | - |
| Sector ETF (XLY) | 12.4% | 22.1% | 0.51 | 57.2% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 56.4% |
| Gold (GLD) | 11.0% | 16.1% | 0.55 | 2.9% |
| Commodities (DBC) | 7.0% | 17.9% | 0.31 | 13.3% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 49.7% |
| Bitcoin (BTCUSD) | 58.5% | 66.2% | 0.99 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | 4.9% | 5.9% | 1.0% |
| 2/18/2026 | -0.2% | -8.2% | -20.5% |
| 10/30/2025 | 5.8% | 22.2% | 27.7% |
| 8/5/2025 | 0.1% | -0.6% | 8.6% |
| 5/6/2025 | 6.6% | 13.9% | 13.9% |
| 2/11/2025 | 5.7% | 8.0% | -9.5% |
| 11/7/2024 | -3.8% | -4.0% | -0.5% |
| 8/6/2024 | 7.1% | 4.2% | 12.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 11 |
| # Negative | 13 | 11 | 13 |
| Median Positive | 4.9% | 5.9% | 8.1% |
| Median Negative | -2.0% | -4.0% | -6.8% |
| Max Positive | 7.1% | 22.2% | 27.7% |
| Max Negative | -7.2% | -9.2% | -20.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | 4.9% | 5.9% | 1.0% |
| 2/18/2026 | -0.2% | -8.2% | -20.5% |
| 10/30/2025 | 5.8% | 22.2% | 27.7% |
| 8/5/2025 | 0.1% | -0.6% | 8.6% |
| 5/6/2025 | 6.6% | 13.9% | 13.9% |
| 2/11/2025 | 5.7% | 8.0% | -9.5% |
| 11/7/2024 | -3.8% | -4.0% | -0.5% |
| 8/6/2024 | 7.1% | 4.2% | 12.6% |
| 5/8/2024 | 5.9% | 9.0% | 1.7% |
| 2/13/2024 | -1.5% | 3.1% | -3.2% |
| 11/7/2023 | -2.3% | -3.5% | 1.8% |
| 8/8/2023 | -7.2% | -4.1% | -10.8% |
| 5/9/2023 | -5.3% | -5.0% | 8.1% |
| 2/14/2023 | 0.3% | -3.3% | -10.4% |
| 11/1/2022 | -2.0% | -9.2% | -6.8% |
| 8/2/2022 | -5.2% | 1.6% | -6.0% |
| 5/10/2022 | 3.4% | 4.7% | 8.0% |
| 2/10/2022 | -1.0% | 2.0% | -7.7% |
| 11/2/2021 | 0.3% | 6.1% | 8.1% |
| 8/3/2021 | -1.7% | -1.8% | -2.8% |
| 4/14/2021 | -2.0% | 0.7% | -3.8% |
| 2/9/2021 | -0.0% | -5.4% | -6.5% |
| 11/9/2020 | 3.5% | 9.7% | 15.3% |
| 8/11/2020 | -0.7% | -0.3% | -12.7% |
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 11 |
| # Negative | 13 | 11 | 13 |
| Median Positive | 4.9% | 5.9% | 8.1% |
| Median Negative | -2.0% | -4.0% | -6.8% |
| Max Positive | 7.1% | 22.2% | 27.7% |
| Max Negative | -7.2% | -9.2% | -20.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/02/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/04/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/02/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 11/05/2019 | 10-Q |
| 06/30/2019 | 08/06/2019 | 10-Q |
Recent Forward Guidance
Updated 7/12/2026Latest: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Net Sales | 374.00 Mil | ||||||
| 2026 North American RV wholesale shipments | 0.32 Mil | 0.32 Mil | 0.33 Mil | -5.8% | Lowered | Guidance: 0.34 Mil for 2026 | |
| 2026 Revenue | 4.20 Bil | 4.25 Bil | 4.30 Bil | 0 | Affirmed | Guidance: 4.25 Bil for 2026 | |
| 2026 Operating profit margin | 7.5% | 7.75% | 8.0% | 0 | Affirmed | Guidance: 7.75% for 2026 | |
| 2026 Adjusted EPS | 8.75 | 9 | 9.25 | 2.9% | Raised | Guidance: 8.75 for 2026 | |
| 2026 Capital expenditures | 55.00 Mil | 65.00 Mil | 75.00 Mil | -7.1% | Lowered | Guidance: 70.00 Mil for 2026 | |
| 2026 Depreciation and amortization | 115.00 Mil | 120.00 Mil | 125.00 Mil | 0 | Affirmed | Guidance: 120.00 Mil for 2026 | |
| 2026 Stock-based compensation expense | 24.00 Mil | 25.50 Mil | 27.00 Mil | 0 | Affirmed | Guidance: 25.50 Mil for 2026 | |
| 2026 Annual tax rate | 25.0% | 26.0% | 27.0% | 0 | Affirmed | Guidance: 26.0% for 2026 | |
Prior: Q4 2025 Earnings Reported 2/18/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Net Sales | 343.00 Mil | -9.7% | Lower New | Actual: 380.00 Mil for Q4 2025 | |||
| 2026 North American RV wholesale shipments | 0.34 Mil | 0.34 Mil | 0.35 Mil | -2.8% | Lowered | Guidance: 0.35 Mil for 2026 | |
| 2026 Revenue | 4.20 Bil | 4.25 Bil | 4.30 Bil | ||||
| 2026 Operating profit margin | 7.5% | 7.75% | 8.0% | 0.2% | Raised | Guidance: 7.5% for 2026 | |
| 2026 Adjusted EPS | 8.25 | 8.75 | 9.25 | ||||
| 2026 Capital expenditures | 60.00 Mil | 70.00 Mil | 80.00 Mil | 40.0% | Higher New | Actual: 50.00 Mil for 2025 | |
| 2026 Depreciation and amortization | 115.00 Mil | 120.00 Mil | 125.00 Mil | 0.0% | Same New | Actual: 120.00 Mil for 2025 | |
| 2026 Stock-based compensation expense | 24.00 Mil | 25.50 Mil | 27.00 Mil | 13.3% | Higher New | Actual: 22.50 Mil for 2025 | |
| 2026 Annual tax rate | 25.0% | 26.0% | 27.0% | 0.0% | Same New | Actual: 26.0% for 2025 | |
Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Net Sales | 380.00 Mil | ||||||
| 2025 Operating Profit Margin Improvement | 0.85% | ||||||
| 2026 Operating Margin | 7.0% | 7.5% | 8.0% | ||||
| 2025 North American RV wholesale shipments | 0.34 Mil | 0.34 Mil | 0.35 Mil | ||||
| 2026 North American RV wholesale shipments | 0.34 Mil | 0.35 Mil | 0.36 Mil | ||||
| 2025 Capital Expenditures | 45.00 Mil | 50.00 Mil | 55.00 Mil | -16.7% | Lowered | Guidance: 60.00 Mil for 2025 | |
| 2025 Depreciation and amortization | 115.00 Mil | 120.00 Mil | 125.00 Mil | 0 | Affirmed | Guidance: 120.00 Mil for 2025 | |
| 2025 Stock-based compensation expense | 21.00 Mil | 22.50 Mil | 24.00 Mil | 9.8% | Raised | Guidance: 20.50 Mil for 2025 | |
| 2025 Annual tax rate | 25.0% | 26.0% | 27.0% | 0 | Affirmed | Guidance: 26.0% for 2025 | |
Insider Activity
Updated 5/14/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lippert, Jason | President , CEO | Direct | Sell | 2242026 | 142.76 | 10,000 | 1,427,600 | 47,820,745 | Form |
| 2 | Schnur, Jamie | Group President - Aftermarket | Direct | Sell | 2242026 | 144.66 | 10,000 | 1,446,600 | 2,809,297 | Form |
| 3 | Lippert, Jason | President , CEO | Direct | Sell | 2242026 | 145.03 | 30,000 | 4,350,900 | 50,031,434 | Form |
| 4 | Smith, Ryan Richard | Group President - N.A. | Direct | Sell | 2242026 | 147.81 | 20,000 | 2,956,200 | 1,491,699 | Form |
| 5 | Schnur, Jamie | Group President - Aftermarket | Direct | Sell | 2242026 | 147.65 | 10,000 | 1,476,500 | 4,343,863 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lippert, Jason | President , CEO | Direct | Sell | 2242026 | 142.76 | 10,000 | 1,427,600 | 47,820,745 | Form |
| 2 | Schnur, Jamie | Group President - Aftermarket | Direct | Sell | 2242026 | 144.66 | 10,000 | 1,446,600 | 2,809,297 | Form |
| 3 | Lippert, Jason | President , CEO | Direct | Sell | 2242026 | 145.03 | 30,000 | 4,350,900 | 50,031,434 | Form |
| 4 | Smith, Ryan Richard | Group President - N.A. | Direct | Sell | 2242026 | 147.81 | 20,000 | 2,956,200 | 1,491,699 | Form |
| 5 | Schnur, Jamie | Group President - Aftermarket | Direct | Sell | 2242026 | 147.65 | 10,000 | 1,476,500 | 4,343,863 | Form |
| 6 | Lippert, Jason | President , CEO | Direct | Sell | 2242026 | 148.01 | 10,000 | 1,480,100 | 55,499,754 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Automotive Parts & Equipment Resources |
| AftermarketNews |
| Tire Review |
| Motor Age |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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