Tearsheet

Winnebago Industries (WGO)


Market Price (3/21/2026): $33.65 | Market Cap: $948.9 Mil
Sector: Consumer Discretionary | Industry: Automobile Manufacturers

Winnebago Industries (WGO)


Market Price (3/21/2026): $33.65
Market Cap: $948.9 Mil
Sector: Consumer Discretionary
Industry: Automobile Manufacturers

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
FCF Yield is 14%
Weak multi-year price returns
2Y Excs Rtn is -72%, 3Y Excs Rtn is -103%
Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -14%
1 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech, and Luxury Consumer Goods.
  Key risks
WGO key risks include [1] a significant debt burden with poor interest coverage from earnings and [2] operational efficiency challenges related to managing dealer inventory and production costs.
0 Attractive yield
FCF Yield is 14%
1 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech, and Luxury Consumer Goods.
2 Weak multi-year price returns
2Y Excs Rtn is -72%, 3Y Excs Rtn is -103%
3 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -14%
4 Key risks
WGO key risks include [1] a significant debt burden with poor interest coverage from earnings and [2] operational efficiency challenges related to managing dealer inventory and production costs.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Winnebago Industries (WGO) stock has lost about 5% since 11/30/2025 because of the following key factors:

1. Weakening Retail Demand and Inventory Management in the RV Market. Winnebago's stock trend was impacted by a challenging retail environment for RVs, despite the company's strong Q1 FY26 unit volume growth. Industry-wide RV retail registrations declined 7.6% year-over-year in October. This was coupled with dealer preferences for lower inventories and a shift towards a buyer's market where used RV prices are expected to continue lowering throughout 2026. Winnebago itself projected a sequential decline in Q2 sales and EPS due to normal seasonality and dealer inventory management.

2. Persistent Softness in the Marine Segment Driven by Macroeconomic Pressures. The marine industry, where Winnebago operates with brands like Chris-Craft and Barletta, experienced continued softness. New retail powerboat sales were down 9.7% through the first half of 2025 compared to 2024. Elevated borrowing costs and general consumer financial uncertainty continued to impact discretionary big-ticket purchases, leading to cautious market conditions. While Winnebago's marine segment saw 2.2% revenue growth in Q1 FY26, its performance was still slightly below the prior year, reflecting these industry headwinds.

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Stock Movement Drivers

Fundamental Drivers

The -7.0% change in WGO stock from 11/30/2025 to 3/20/2026 was primarily driven by a -33.6% change in the company's P/E Multiple.
(LTM values as of)113020253202026Change
Stock Price ($)35.9233.41-7.0%
Change Contribution By: 
Total Revenues ($ Mil)2,7982,8752.8%
Net Income Margin (%)0.9%1.3%37.8%
P/E Multiple39.025.9-33.6%
Shares Outstanding (Mil)2828-1.1%
Cumulative Contribution-7.0%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/20/2026
ReturnCorrelation
WGO-7.0% 
Market (SPY)-4.8%27.3%
Sector (XLY)-8.9%24.8%

Fundamental Drivers

The -5.5% change in WGO stock from 8/31/2025 to 3/20/2026 was primarily driven by a -9.2% change in the company's P/S Multiple.
(LTM values as of)83120253202026Change
Stock Price ($)35.3533.41-5.5%
Change Contribution By: 
Total Revenues ($ Mil)2,7422,8754.9%
P/S Multiple0.40.3-9.2%
Shares Outstanding (Mil)2828-0.7%
Cumulative Contribution-5.5%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/20/2026
ReturnCorrelation
WGO-5.5% 
Market (SPY)1.1%17.9%
Sector (XLY)-6.9%23.1%

Fundamental Drivers

The -14.0% change in WGO stock from 2/28/2025 to 3/20/2026 was primarily driven by a -16.4% change in the company's P/S Multiple.
(LTM values as of)22820253202026Change
Stock Price ($)38.8733.41-14.0%
Change Contribution By: 
Total Revenues ($ Mil)2,8362,8751.4%
P/S Multiple0.40.3-16.4%
Shares Outstanding (Mil)29281.4%
Cumulative Contribution-14.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/20/2026
ReturnCorrelation
WGO-14.0% 
Market (SPY)10.4%41.9%
Sector (XLY)0.4%48.8%

Fundamental Drivers

The -43.0% change in WGO stock from 2/28/2023 to 3/20/2026 was primarily driven by a -82.9% change in the company's Net Income Margin (%).
(LTM values as of)22820233202026Change
Stock Price ($)58.6433.41-43.0%
Change Contribution By: 
Total Revenues ($ Mil)4,7542,875-39.5%
Net Income Margin (%)7.4%1.3%-82.9%
P/E Multiple5.125.9410.0%
Shares Outstanding (Mil)30287.8%
Cumulative Contribution-43.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/20/2026
ReturnCorrelation
WGO-43.0% 
Market (SPY)70.3%42.0%
Sector (XLY)51.6%47.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
WGO Return26%-29%41%-33%-12%-18%-39%
Peers Return30%-31%47%-11%6%-13%9%
S&P 500 Return27%-19%24%23%16%-3%76%

Monthly Win Rates [3]
WGO Win Rate67%17%50%42%50%33% 
Peers Win Rate57%35%53%48%58%33% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
WGO Max Drawdown0%-41%-0%-36%-39%-19% 
Peers Max Drawdown-1%-40%-5%-23%-31%-15% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-3% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: THO, BC, LCII, PATK, CWH. See WGO 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 3/20/2026 (YTD)

How Low Can It Go

Unique KeyEventWGOS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-49.4%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven97.7%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-67.1%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven204.2%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven78 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-65.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven190.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven414 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-90.8%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven982.7%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven2,832 days1,480 days

Compare to THO, BC, LCII, PATK, CWH

In The Past

Winnebago Industries's stock fell -49.4% during the 2022 Inflation Shock from a high on 3/17/2021. A -49.4% loss requires a 97.7% gain to breakeven.

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About Winnebago Industries (WGO)

Winnebago Industries, Inc. manufactures and sells recreation vehicles and marine products primarily for use in leisure travel and outdoor recreation activities. The company operates in six segments: Grand Design Towables, Winnebago Towables, Winnebago Motorhomes, Newmar motorhomes, Chris-Craft Marine, and Winnebago Specialty Vehicles. It provides towable products that are non-motorized vehicles to be towed by automobiles, pickup trucks, SUVs, or vans for use as temporary living quarters for recreational travel, such as conventional travel trailers, fifth wheels, folding camper trailers, and truck campers under the Winnebago and Grand Design brand names. The company also offers motorhomes, which are self-propelled mobile dwellings used primarily as temporary living quarters during vacation and camping trips, or to support active and mobile lifestyles under the Winnebago and Newmar brand names. In addition, it offers other specialty commercial vehicles for law enforcement command centers, mobile medical clinics, and mobile office spaces; commercial vehicles as bare shells to third-party up fitters; and boats in the recreational powerboat industry under the Chris-Craft and Barletta brand names. Further, the company is involved in the original equipment manufacturing of parts for other manufacturers and commercial vehicles. The company sells its products primarily through independent dealers in the United States, Canada, and internationally. Winnebago Industries, Inc. was incorporated in 1958 and is based in Forest City, Iowa.

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Here are 1-3 brief analogies for Winnebago Industries (WGO):

  • Winnebago is like the General Motors for recreational vehicles and boats.
  • Think of Winnebago as the Polaris for RVs and recreational boats.

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  • Towable RVs: Non-motorized vehicles designed for recreational travel, towed by automobiles, pickup trucks, SUVs, or vans.
  • Motorhomes: Self-propelled mobile dwellings primarily used as temporary living quarters during vacation and camping trips.
  • Specialty Commercial Vehicles: Custom-built vehicles adapted for specific professional uses such as law enforcement command centers, mobile medical clinics, or mobile office spaces.
  • Recreational Powerboats: Leisure boats sold under the Chris-Craft and Barletta brand names for use in outdoor recreation.
  • OEM Parts: Original equipment manufacturing of parts supplied to other manufacturers and for commercial vehicles.

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Winnebago Industries (WGO) Major Customers

Winnebago Industries (WGO) primarily sells its products to other companies rather than directly to individual consumers.

Based on the provided company description, its major customers are categorized as follows:

  • Independent Dealers: For its core recreation vehicles (including towables and motorhomes under Winnebago, Grand Design, and Newmar brands) and marine products (Chris-Craft and Barletta brand boats), Winnebago Industries sells primarily through a network of independent dealers located in the United States, Canada, and internationally. The provided background information does not list the specific names of these independent dealer companies or their public symbols.
  • Third-Party Upfitters: The company supplies commercial vehicle bare shells to these entities, which then customize the vehicles for various specialized purposes.
  • Other Manufacturers: Winnebago Industries also engages in original equipment manufacturing (OEM) of parts for other manufacturers and commercial vehicles.
  • Organizations for Specialty Vehicles: Customers for its specialty commercial vehicles include entities requiring specialized applications such as law enforcement command centers, mobile medical clinics, and mobile office spaces. These would typically encompass government agencies, healthcare providers, and various businesses.

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  • Ford (Symbol: F)
  • Freightliner (a subsidiary of Daimler Truck Holding AG, Symbol: DTG)

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Michael Happe, President and Chief Executive Officer

Michael Happe was appointed President and Chief Executive Officer and a director of Winnebago Industries in January 2016. He is responsible for the overall vision, strategic direction, and performance of the company. Under his leadership, Winnebago Industries has grown significantly through organic growth and major acquisitions, including Grand Design RV, Chris-Craft, Newmar, Barletta Boats, and Lithionics. Prior to joining Winnebago Industries, Mr. Happe spent 19 years at The Toro Company, where he held various senior leadership positions, most recently as an Executive Officer and Group Vice President of Toro's Residential and Contractor businesses.

Bryan Hughes, Senior Vice President, Chief Financial Officer, Investor Relations, Information Technology and Business Development

Bryan Hughes has served as Chief Financial Officer since May 15, 2017. In his role, he also oversees information technology and business development. Before joining Winnebago Industries, Mr. Hughes accumulated over 25 years of financial leadership experience, including 20 years at Ecolab, Inc., a global leader in water, hygiene, and energy technologies. At Ecolab, he most recently held the position of Senior Vice President and Corporate Controller, and previously served as Vice President of Finance for the company’s Global Institutional business. He began his career as a CPA with Ernst & Young.

Donald Clark, Group President, Towable RV Segment; President, Grand Design RV

Don Clark is a co-founder of Grand Design RV, which he started in 2012 with Bill and Ron Fenech. Grand Design RV was acquired by Winnebago Industries in 2016. Mr. Clark has over 30 years of experience in the RV industry, with a history of leading and growing companies, including distressed company turnarounds and successful startups. Prior to co-founding Grand Design, he was president of Dutchmen, a division of Thor Industries, and was part of the management team that helped Keystone RV become the world's largest towable RV manufacturer.

Stephen Heese, President, Chris-Craft Corporation; Senior Vice President, Winnebago Power Systems

Stephen Heese has been the President of Chris-Craft Corporation since January 2001. He, along with financial partner Stephen Julius, acquired Chris-Craft around the end of the last century, transforming it to profitability and selling it to Winnebago Industries in 2018. Mr. Heese also co-acquired and resurrected the Indian Motorcycle brand in 2004, selling it to Polaris Industries in 2011. His career includes serving as a Partner at Stellican Limited, focusing on operational improvements in middle-market companies, and various roles at Erico International Corporation, including Managing Director of regions in Europe, Asia, and Australia, and President of Indian Motorcycle Company. He also worked as a Senior Accountant at Price Waterhouse. In 1997, Heese and Julius also acquired Riva Yachts, an Italian yacht builder, which they later sold to Ferretti.

Stacy Bogart, Senior Vice President, General Counsel, Secretary and Corporate Responsibility; President, Winnebago Industries Foundation

Stacy Bogart joined Winnebago Industries on January 2, 2018, as Senior Vice President, General Counsel, Secretary, and Corporate Responsibility. She also serves as President of the Winnebago Industries Foundation. Before her tenure at Winnebago Industries, Ms. Bogart was Senior Vice President, General Counsel, Compliance Officer, and Corporate Secretary at Polaris Industries, a position she held since November 2009. Her previous experience includes serving as General Counsel of Liberty Diversified International, Assistant General Counsel and Assistant Secretary at The Toro Company, and a Senior Attorney for Honeywell Inc. Ms. Bogart has experience in both private and public companies.

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Winnebago Industries (WGO) faces several key risks to its business, primarily driven by its position in the cyclical recreational vehicle and marine markets.

  1. Macroeconomic Headwinds and Cyclicality of Demand: The company's performance is highly susceptible to broader economic conditions, including inflation, rising interest rates, and shifts in consumer confidence. As a manufacturer of discretionary products like RVs and boats, Winnebago experiences significant cyclical downturns during economic slowdowns, leading to reduced consumer spending, lower sales volumes, and pressure on pricing. Recent fiscal years have shown revenue contraction driven by a tough macro environment and a challenging outdoor recreation market.
  2. Dependence on Dealer Network and Inventory Management: Winnebago Industries relies heavily on an independent dealer network for the distribution of its products. This reliance exposes the company to risks associated with the financial health of its dealers and effective inventory management. An imbalance in dealer inventory or financial difficulties among dealers can directly impact sales and profitability, requiring the company to carefully align production with retail demand.
  3. Competitive Market Landscape: The recreational vehicle and boating industries are characterized by intense competition from numerous established manufacturers and new entrants. This competitive environment can lead to erosion of market share, pressure on profit margins, and the need for continuous innovation and product differentiation to maintain customer loyalty and a competitive edge.
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Winnebago Industries (symbol: WGO) operates in several addressable markets for its main products and services, primarily recreational vehicles, marine products, and specialty commercial vehicles.

Recreational Vehicles (RVs)

The U.S. recreational vehicle market generated a revenue of approximately USD 31.61 billion in 2022 and is projected to reach about USD 83.04 billion by 2030, with a compound annual growth rate (CAGR) of 12.8% from 2023 to 2030. In North America, the recreational vehicle market was valued at approximately USD 35.04 billion in 2022 and is expected to grow to about USD 89.29 billion by 2030, demonstrating a CAGR of 12.4% from 2023 to 2030. Globally, the recreational vehicle market is estimated at USD 81.56 billion in 2025 and is anticipated to reach around USD 238.10 billion by 2035, expanding at a CAGR of 11.31% between 2026 and 2035.

  • **Towable RVs:** In 2022, towable RVs represented the largest revenue-generating vehicle type in both the U.S. and North American markets. In 2025, towable RVs held 63.52% of the North American Recreational Vehicle market share.
  • **Motorhomes:** Motorhomes are identified as the most lucrative vehicle type segment, expected to register the fastest growth during the forecast period in the U.S. and North America. In North America, motorhomes are projected to expand at a 12.93% CAGR through 2031.

Marine Products (Recreational Boating)

The U.S. recreational boat market is projected to be valued at approximately USD 7.1 billion in 2025 and is expected to grow to about USD 12.9 billion by 2034, at a CAGR of 6.9%. Similarly, another estimate for the U.S. Recreational Boats Market projects growth from approximately USD 5.82 billion in 2025 to USD 9.10 billion by 2033, with a CAGR of 5.76%. The North America recreational boating market was valued at approximately USD 10.52 billion in 2025 and is anticipated to grow to about USD 15.67 billion by 2034, at a CAGR of 4.53% from 2026. North America held a dominant share of over 60% in the global recreational boat market in 2023. The global recreational boat market is estimated to have a value of USD 21.5 billion in 2025 and is expected to reach USD 40.4 billion by the end of 2034, growing at a CAGR of 7.3% over the forecasted period.

Specialty Commercial Vehicles

The global specialty commercial vehicle market was valued at approximately USD 99.5 billion in 2024 and is estimated to reach about USD 138.5 billion by 2034, exhibiting a CAGR of 3.6% between 2025 and 2034. Another source valued the global specialty commercial vehicle market at USD 109.17 billion in 2024, anticipating it to reach USD 157.60 billion by 2034 with a CAGR of 3.74%. North America is the largest market for specialty commercial vehicles, holding approximately 40% of the global market share. Specifically, North America held a dominant share of USD 35.31 billion in 2025. The U.S. segment within the North American specialty vehicle market is expected to grow to USD 33.56 billion by 2030.

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For Winnebago Industries (WGO), the following are expected drivers of future revenue growth over the next 2-3 years:

1. Product Innovation and Portfolio Expansion: Winnebago Industries is focusing on developing and launching new products and expanding its existing brand portfolios across both its RV and Marine segments. This includes introducing lower price-point models in Towable RVs, such as the Grand Design Transcend series and the new Winnebago Thrive travel trailer, to attract new buyers and address affordability concerns in the market. In the Motorhome segment, new product entries from Newmar and the expanding Grand Design Motorhome Lineage Series are expected to drive growth. Furthermore, the Marine segment is seeing new models like Barletta's Sanza pontoon boats, aimed at first-time owners and value-minded buyers, contributing to the diversified product offering.

2. Market Share Gains: The company anticipates revenue growth through continued market share expansion, particularly in its Motorhome and Marine segments. Barletta has been notably successful in capturing market share within the aluminum pontoon category. Efforts in the Motorhome segment, including the strategic rollout of Grand Design motorized products and new offerings from Newmar, are also contributing to market share gains.

3. Recovery and Stabilization of RV Industry Demand: After a period of industry-wide challenges, the recreational vehicle market is showing signs of gradual recovery and stabilization. Industry forecasts project modest growth in North American RV wholesale shipments over calendar years 2025 and 2026. An anticipated easing of macroeconomic pressures, such as potential interest rate reductions by 2025-2026, is expected to reduce borrowing costs for RV loans, thereby stimulating consumer demand.

4. Growth in the Marine Segment: Despite some softness in the broader marine market, Winnebago's marine brands, Chris-Craft and Barletta, are identified as strong growth engines. The Marine segment's net revenues have shown growth, and these brands continue to increase market share. The company expects the marine market recovery to contribute to future revenue, although it may lag the RV market slightly.

5. Operational Efficiencies and Strategic Pricing: Winnebago Industries is focused on disciplined execution, operational efficiencies, and cost controls to enhance its financial performance. While primarily affecting profitability, these initiatives indirectly support revenue growth by allowing for more competitive pricing strategies and reinvestment in the business. The company has also implemented targeted price increases, particularly linked to new product introductions and a favorable product mix, which contributed to revenue growth in recent quarters.

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Share Repurchases

  • In October 2021, Winnebago Industries' Board of Directors authorized a new share repurchase program of up to $200 million, replacing a previous $70 million program.
  • The company's Board of Directors approved a new share repurchase authorization of up to $350 million in August 2022, which superseded the fully utilized $200 million program that saw $80 million in repurchases during the fourth quarter of fiscal 2022.
  • Winnebago Industries returned $50 million to shareholders through share repurchases in Fiscal Year 2025, including $20 million repurchased in the second quarter of Fiscal 2025.

Share Issuance

  • In Fiscal Year 2025, Winnebago Industries repurchased $240.7 million of its 2025 Convertible Notes using proceeds from the issuance of $350.0 million in 2030 Convertible Notes.

Outbound Investments

  • Winnebago Industries acquired Barletta Boat Company for $255 million in July 2021.
  • In March 2023, the company acquired Lithionics Battery, a provider of battery management systems for lithium batteries.

Capital Expenditures

  • Winnebago Industries' capital expenditures were $44.9 million in Fiscal Year 2021, $88.0 million in Fiscal Year 2022, and $92.8 million in Fiscal Year 2025.
  • The company plans to invest $35.0 million to $45.0 million in capital expenditures for Fiscal Year 2026.
  • Planned capital expenditures for Fiscal Year 2026 will focus on facility improvements, operational enhancements, and digital capabilities.

Better Bets vs. Winnebago Industries (WGO)

Trade Ideas

Select ideas related to WGO.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MBLY_2272026_Dip_Buyer_HighCashEquity_ExInd02272026MBLYMobileye GlobalDip BuyDB | Cash/EquityDip Buyer with High Net Cash % Equity
Buying dips for companies with significant net cash as a % of market cap along with meaningful cash flow generation
0.0%0.0%0.0%
SAH_2202026_Insider_Buying_GTE_1Mil_EBITp+DE_V202202026SAHSonic AutomotiveInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
-5.9%-5.9%-6.1%
MAT_2132026_Insider_Buying_GTE_1Mil_EBITp+DE_V202132026MATMattelInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
2.9%2.9%0.0%
SONO_2132026_Insider_Buying_GTE_1Mil_EBITp+DE_V202132026SONOSonosInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
-0.7%-0.7%-4.6%
DECK_2062026_Dip_Buyer_ValueBuy02062026DECKDeckers OutdoorDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
1.6%1.6%-0.8%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

WGOTHOBCLCIIPATKCWHMedian
NameWinnebag.Thor Ind.BrunswickLCI Indu.Patrick .Camping . 
Mkt Price33.4175.2070.47117.48108.216.1372.84
Mkt Cap0.94.04.62.93.50.43.2
Rev LTM2,8759,9345,3634,1223,9516,3694,742
Op Inc LTM72328312280276179278
FCF LTM136228396278242-384235
FCF 3Y Avg139444368357271-43314
CFO LTM171359562331329-132330
CFO 3Y Avg188588576409355141382

Growth & Margins

WGOTHOBCLCIIPATKCWHMedian
NameWinnebag.Thor Ind.BrunswickLCI Indu.Patrick .Camping . 
Rev Chg LTM1.4%4.6%2.4%10.2%6.3%4.4%4.5%
Rev Chg 3Y Avg-14.4%-9.8%-7.3%-6.1%-5.2%-2.7%-6.7%
Rev Chg Q12.3%5.3%15.5%16.1%9.2%-2.6%10.8%
QoQ Delta Rev Chg LTM2.8%1.1%3.5%3.2%2.0%-0.5%2.4%
Op Mgn LTM2.5%3.3%5.8%6.8%7.0%2.8%4.6%
Op Mgn 3Y Avg4.5%3.7%8.8%5.3%7.1%3.3%4.9%
QoQ Delta Op Mgn LTM0.5%-0.0%0.2%0.3%0.3%-0.6%0.2%
CFO/Rev LTM5.9%3.6%10.5%8.0%8.3%-2.1%7.0%
CFO/Rev 3Y Avg6.2%5.9%10.1%10.6%9.6%2.3%7.9%
FCF/Rev LTM4.7%2.3%7.4%6.8%6.1%-6.0%5.4%
FCF/Rev 3Y Avg4.6%4.5%6.5%9.3%7.4%-0.6%5.5%

Valuation

WGOTHOBCLCIIPATKCWHMedian
NameWinnebag.Thor Ind.BrunswickLCI Indu.Patrick .Camping . 
Mkt Cap0.94.04.62.93.50.43.2
P/S0.30.40.90.70.90.10.5
P/EBIT13.310.1-192.69.813.91.210.0
P/E25.913.2-33.715.225.9-4.314.2
P/CFO5.511.08.28.610.6-2.98.4
Total Yield4.9%7.6%-0.5%8.6%5.4%-13.2%5.2%
Dividend Yield1.0%0.0%2.4%2.0%1.6%10.1%1.8%
FCF Yield 3Y Avg9.3%7.9%7.0%12.2%10.4%-13.7%8.6%
D/E0.60.20.50.40.410.60.5
Net D/E0.40.20.40.40.410.00.4

Returns

WGOTHOBCLCIIPATKCWHMedian
NameWinnebag.Thor Ind.BrunswickLCI Indu.Patrick .Camping . 
1M Rtn-28.2%-34.9%-21.0%-22.9%-21.3%-49.7%-25.5%
3M Rtn-23.0%-28.7%-6.5%-4.1%-1.9%-38.7%-14.8%
6M Rtn1.7%-26.1%12.5%22.9%2.9%-62.6%2.3%
12M Rtn-0.3%-4.2%28.4%38.1%30.1%-63.0%14.0%
3Y Rtn-37.8%0.3%-6.1%22.5%148.3%-68.0%-2.9%
1M Excs Rtn-22.1%-28.4%-13.6%-13.5%-15.2%-43.7%-18.6%
3M Excs Rtn-15.5%-24.2%-2.5%0.6%0.5%-36.2%-9.0%
6M Excs Rtn1.8%-24.8%10.8%22.7%3.4%-62.7%2.6%
12M Excs Rtn-16.7%-19.9%12.7%24.4%14.1%-78.5%-2.0%
3Y Excs Rtn-103.4%-66.9%-73.0%-38.2%84.4%-134.7%-69.9%

Comparison Analyses

Financials

Segment Financials

Assets by Segment
$ Mil20252024202320222021
Motorhome recreation vehicles (RV)788802823728600
Towable recreation vehicles (RV)719751875790718
Corporate / All Other499452302441395
Marine378427416103 
Total2,3842,4322,4172,0631,714


Price Behavior

Price Behavior
Market Price$33.41 
Market Cap ($ Bil)0.9 
First Trading Date11/01/1984 
Distance from 52W High-33.0% 
   50 Days200 Days
DMA Price$42.91$36.32
DMA Trendupindeterminate
Distance from DMA-22.1%-8.0%
 3M1YR
Volatility38.0%57.4%
Downside Capture124.9395.47
Upside Capture-5.9480.22
Correlation (SPY)35.9%42.5%
WGO Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta0.371.120.980.861.261.23
Up Beta-0.510.640.521.781.631.46
Down Beta1.442.141.661.921.211.20
Up Capture-66%71%111%28%78%71%
Bmk +ve Days9203170142431
Stock +ve Days8223262124365
Down Capture141%82%45%0%99%106%
Bmk -ve Days12213054109320
Stock -ve Days13192962127387

[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 WGO
WGO-2.0%57.3%0.16-
Sector ETF (XLY)10.0%23.6%0.3449.8%
Equity (SPY)15.8%18.9%0.6442.2%
Gold (GLD)48.2%27.0%1.45-2.9%
Commodities (DBC)17.8%17.4%0.8317.6%
Real Estate (VNQ)1.0%16.4%-0.1147.5%
Bitcoin (BTCUSD)-19.0%44.2%-0.3523.0%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with WGO
WGO-15.6%44.7%-0.24-
Sector ETF (XLY)5.8%23.6%0.2150.7%
Equity (SPY)11.8%17.0%0.5445.9%
Gold (GLD)20.7%17.5%0.97-0.2%
Commodities (DBC)10.9%19.0%0.466.6%
Real Estate (VNQ)2.8%18.8%0.0641.2%
Bitcoin (BTCUSD)4.7%56.7%0.3018.2%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with WGO
WGO6.7%48.6%0.32-
Sector ETF (XLY)12.0%21.9%0.5050.1%
Equity (SPY)14.2%17.9%0.6847.8%
Gold (GLD)13.3%15.7%0.70-0.8%
Commodities (DBC)8.3%17.6%0.3916.5%
Real Estate (VNQ)5.0%20.7%0.2141.2%
Bitcoin (BTCUSD)66.9%66.8%1.0614.0%

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Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity2.2 Mil
Short Interest: % Change Since 2152026-6.3%
Average Daily Volume0.5 Mil
Days-to-Cover Short Interest4.5 days
Basic Shares Quantity28.2 Mil
Short % of Basic Shares7.7%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/22/202528.5%28.4%3.0%
6/5/2025-6.0%-4.2%-8.7%
3/27/20258.1%3.1%-4.7%
10/23/2024-10.8%-0.9%-1.2%
6/20/2024-3.5%-7.0%0.2%
3/21/20246.2%10.3%-4.1%
10/18/2023-3.2%-1.2%13.1%
6/21/2023-1.3%-0.2%6.0%
...
SUMMARY STATS   
# Positive569
# Negative13129
Median Positive8.1%10.2%3.0%
Median Negative-6.0%-3.8%-4.7%
Max Positive28.5%28.4%50.8%
Max Negative-11.8%-13.2%-13.4%

SEC Filings

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Report DateFiling DateFiling
11/30/202512/19/202510-Q
08/31/202510/22/202510-K
05/31/202506/25/202510-Q
02/28/202503/27/202510-Q
11/30/202412/20/202410-Q
08/31/202410/23/202410-K
05/31/202406/20/202410-Q
02/29/202403/21/202410-Q
11/30/202312/20/202310-Q
08/31/202310/18/202310-K
05/31/202306/21/202310-Q
02/28/202303/22/202310-Q
11/30/202212/16/202210-Q
08/31/202210/19/202210-K
05/31/202206/22/202210-Q
02/28/202203/23/202210-Q

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Happe, Michael JPRESIDENT & CEODirectSell1029202541.387,105294,00514,379,591Form
2Armbruster, Sara EDirectBuy1027202540.272,700108,729580,935Form
3Miles, David WDirectBuy403202534.684,341150,546972,115Form
4Bryant, Kevin EDirectBuy402202534.124,200143,304469,321Form