THOR Industries, Inc.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $177.5M | $258.6M | $265.3M | $374.3M | $1.14B | $659.9M | $223.0M | $133.3M |
| Depreciation & Amortization | $266.4M | $271.2M | $277.1M | $276.9M | $284.5M | $230.6M | $196.2M | $148.8M |
| Depreciation | $154.2M | $152.2M | $144.6M | $136.1M | $127.5M | $113.4M | $98.9M | $73.1M |
| Amortization | $112.2M | $119.0M | $132.5M | $140.8M | $156.9M | $117.2M | $97.2M | $75.6M |
| Stock-Based Compensation | $26.6M | $30.9M | $37.9M | $39.5M | $31.4M | $30.5M | $19.9M | $19.0M |
| Net Cash from Operating Activities | $321.2M | $577.9M | $545.5M | $981.6M | $990.1M | $526.5M | $540.9M | $508.0M |
| Investing Activities | ||||||||
| Capital Expenditures | $152.4M | $123.0M | $139.6M | $208.2M | $242.4M | $128.8M | $106.7M | $130.2M |
| Business Acquisitions | $9.6M | $0 | $7.3M | $6.2M | $782.0M | $310.9M | $0 | $1.66B |
| Net Cash from Investing Activities | $-125.4M | $-64.5M | $-146.8M | $-222.5M | $-1.05B | $-428.5M | $-84.2M | $-1.87B |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | $84.1M |
| Stock Repurchases | $115.1M | $52.6M | $68.4M | $42.0M | $165.1M | $0 | $0 | — |
| Net Cash from Financing Activities | $-296.6M | $-426.3M | $-337.7M | $-635.7M | $-47.8M | $-188.4M | $-392.9M | $1.54B |
| Net Change in Cash | $-104.6M | $85.3M | $60.1M | $129.7M | $-137.2M | $-92.7M | $90.1M | $176.0M |
| Free Cash Flow | $168.8M | $454.9M | $405.9M | $773.4M | $747.8M | $397.6M | $434.2M | $377.8M |