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Winnebago Industries
(NYSE:WGO)
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Rating:58Neutral
Price Target:
$30.00
â–¼(-2.63% Downside)
Action:Reiterated
Date:10/23/26
The score is held back primarily by weak financial performance trends (declining revenue and compressed margins), partially offset by a strong, low-debt balance sheet and continued positive free cash flow. Technical indicators are mixed and not strongly supportive, while valuation is helped by a high dividend yield but tempered by a ~21 P/E in a pressured cycle. Guidance and cost-savings plans add modest upside, and recent governance/liquidity events are supportive but secondary.
Positive Factors
Conservative balance sheet
Very low debt relative to equity gives Winnebago substantial financial flexibility through the current cycle. This reduces refinancing exposure, supports continued investment in products and operations, and leaves greater capacity to manage volatility without relying heavily on external funding.
Negative Factors
Declining revenue and thin margins
The prolonged revenue decline and compressed profitability indicate limited operating leverage in the present cycle. Thin margins leave less room to absorb weaker volume, unfavorable mix, or cost inflation, making earnings more sensitive to modest changes in demand and execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low debt relative to equity gives Winnebago substantial financial flexibility through the current cycle. This reduces refinancing exposure, supports continued investment in products and operations, and leaves greater capacity to manage volatility without relying heavily on external funding.
Read all positive factors
Winnebago Industries (WGO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$654.99M
Dividend Yield5.5%
Average Volume (3M)716.17K
Price to Earnings (P/E)21.0
Beta (1Y)1.04
Revenue Growth-3.37%
EPS Growth32.39%
CountryUS
Employees5,300
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Recreational Vehicles
Share Statistics
EPS (TTM)1.21
Shares Outstanding28,268,892
10 Day Avg. Volume873,923
30 Day Avg. Volume716,169
Financial Highlights & Ratios
PEG Ratio0.74
Price to Book (P/B)0.70
Price to Sales (P/S)0.32
P/FCF Ratio5.97
Enterprise Value/Market Cap1.81
Enterprise Value/Revenue0.44
Enterprise Value/Gross Profit3.39
Enterprise Value/Ebitda9.48
Forecast
1Y Price Target
$29.67Price Target Upside-3.71% Downside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)1.99
Revenue Forecast (FY)$2.70B
Winnebago Industries Business Overview & Revenue Model
Company Description
Winnebago Industries, Inc. specializes in the production and sale of recreational vehicles (RVs) and marine products, primarily catering to the leisure travel and outdoor recreation markets. The company's operations are divided into six distinct s...
How the Company Makes Money
Winnebago Industries makes money primarily by manufacturing and selling outdoor recreation products to a dealer and distributor network. Its core revenue stream is the sale of RVs, including motorhomes (self-propelled) and towable RVs (trailers), ...
Winnebago Industries Earnings Call Summary
Earnings Call Date:Oct 21, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Dec 18, 2026
Earnings Call Sentiment Positive
The call was cautiously optimistic. Management acknowledged subdued retail demand, cautious dealers, lower unit volumes, mix pressure, inflation, competitive intensity, and near-term sales and earnings declines. However, these challenges were outweighed by market-share gains, improved dealer inventory turns, motorhome margin expansion, strong free cash flow, lower leverage, a 9% adjusted EPS growth midpoint for fiscal 2027, and identified structural savings of $70 million to $80 million over fiscal years 2027 through 2029. The company expressed confidence in its ability to improve performance through internal actions without assuming a broad market recovery.Positive Updates
Fourth-Quarter Financial Results
Fourth-quarter net revenues were approximately $645.1 million, adjusted EBITDA was approximately $32.6 million, representing a 5.1% margin, and adjusted earnings per diluted share was $0.49.
Negative Updates
Challenging RV and Marine Market
Management described fiscal 2026 as another challenging year for the RV and marine industries. Affordability pressures, elevated financing costs, and broader macroeconomic uncertainty continued to delay conversion of consumer interest into new-product purchases.
Read all updates
Q4-2026 Updates
Positive
Negative
Fourth-Quarter Financial Results
Fourth-quarter net revenues were approximately $645.1 million, adjusted EBITDA was approximately $32.6 million, representing a 5.1% margin, and adjusted earnings per diluted share was $0.49.
Read all positive updates
Company Guidance
For fiscal 2027, guidance assumes North American RV wholesale shipments of 265 thousand to 295 thousand units in calendar year 2027, consolidated net revenues of $2.65 billion to $2.8 billion, reported earnings per diluted share of $0.90 to $1.50, and adjusted earnings per diluted share of $1.65 to $2.25; the midpoint of the adjusted earnings per share range, $1.95, would represent an increase of 9% from fiscal year 26, while the midpoint of the top-line guidance is a 1% increase over fiscal 2026 actuals. First-quarter net sales are expected to decrease at a mid to high single digit percentage rate, with adjusted EBITDA margin expected to be on par to slightly below the prior year first quarter level, and the first half is not likely where EPS growth is going to occur. Previously announced manufacturing footprint actions and broader structural cost initiatives are expected to generate as much as $70 million to $80 million in cumulative gross savings over fiscal years 2027 through 2029, with a significant portion expected to offset inflation, while same SKU inflation is expected in the 2.5% to 3.5% range, the fiscal 2027 dealer inventory turns goal remains at 2 times, and expected restructuring charges are approximately $6 million to occur in fiscal 2020.Winnebago Industries Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
63
Positive
| Breakdown | Aug 2026 | Aug 2025 | Aug 2024 | Aug 2023 | Aug 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.70B | 2.80B | 2.97B | 3.49B | 4.96B |
| Gross Profit | 350.20M | 365.10M | 433.50M | 586.10M | 929.34M |
| EBITDA | 125.30M | 116.60M | 118.10M | 350.70M | 609.69M |
| Net Income | 34.50M | 25.70M | 13.00M | 215.90M | 390.60M |
Balance Sheet | |||||
| Total Assets | 2.10B | 2.26B | 2.38B | 2.51B | 2.48B |
| Cash, Cash Equivalents and Short-Term Investments | 181.40M | 174.00M | 330.90M | 309.90M | 282.17M |
| Total Debt | 36.30M | 595.40M | 741.80M | 649.30M | 598.66M |
| Total Liabilities | 864.90M | 1.04B | 1.11B | 1.14B | 1.22B |
| Stockholders Equity | 1.24B | 1.22B | 1.27B | 1.37B | 1.26B |
Cash Flow | |||||
| Free Cash Flow | 144.60M | 89.50M | 98.90M | 211.30M | 312.65M |
| Operating Cash Flow | 168.70M | 128.90M | 143.90M | 294.50M | 400.62M |
| Investing Cash Flow | -18.50M | -34.80M | -45.90M | -170.00M | -315.67M |
| Financing Cash Flow | -142.80M | -251.00M | -77.00M | -96.80M | -237.34M |
Winnebago Industries Technical Analysis
Positive
30.81
Price Trends
27.70
Positive
28.71
Negative
32.40
Negative
Market Momentum
-0.69
Negative
62.65
Neutral
76.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WGO, the sentiment is Positive. The current price of 30.81 is above the 20-day moving average (MA) of 25.02, above the 50-day MA of 27.70, and below the 200-day MA of 32.40, indicating a neutral trend. The MACD of -0.69 indicates Negative momentum. The RSI at 62.65 is Neutral, neither overbought nor oversold. The STOCH value of 76.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WGO.
Winnebago Industries Risk Analysis
Winnebago Industries disclosed 23 risk factors in its most recent earnings report. Winnebago Industries reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Winnebago Industries Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $2.00B | 9.57 | 15.25% | 5.53% | 4.05% | 44.68% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $3.09B | -11.83 | -29.22% | 4.99% | 8.43% | -143.55% | |
58 Neutral | $654.99M | 21.02 | 2.38% | 5.50% | -3.37% | 32.39% | |
56 Neutral | $2.85B | 16.47 | 6.27% | 2.72% | -5.25% | -14.29% | |
55 Neutral | $3.44B | 19.60 | 4.13% | 3.13% | 0.31% | -30.23% | |
54 Neutral | $4.26B | -50.76 | -5.32% | 2.73% | 10.46% | -305.37% |
* Consumer Cyclical Sector Average
WGO
Winnebago Industries
28.57
-9.18
-24.31%
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THO
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Winnebago Industries Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Winnebago Industries Reaches Governance Agreement With Activist Investor
Positive
Oct 23, 2026
On October 22, 2026, Winnebago Industries entered into a cooperation agreement with activist investor Vision One, under which the company will nominate Lamar Advertising CFO Jay L. Johnson as an independent director at the December 2026 annual sha...
Business Operations and StrategyPrivate Placements and Financing
Winnebago Industries Amends and Extends Credit Facility
Positive
Aug 21, 2026
On August 20, 2026, Winnebago Industries and several RV-focused subsidiaries entered into a Third Amended and Restated Credit Agreement that replaces a prior asset-based lending facility of up to $350 million. The new agreement extends the facilit...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.