Winnebago Industries, Inc. manufactures and sells recreation outdoor lifestyle products primarily for use in leisure travel and outdoor recreation activities. It operates through three segments: Towable RV, Motorhome RV, and Marine. The company provides towable products that are non-motorized vehicles to be towed by automobiles, pickup trucks, SUVs, or vans for use as temporary living quarters, such as conventional travel trailers, fifth wheels, folding camper trailers, truck campers, and park models under the Winnebago and Grand Design brand names. It also offers motorhome RV, a self-propelled mobile dwelling used primarily as temporary living quarters during vacation and camping trips, or to support active and mobile lifestyles under the Winnebago, Newmar, and Grand Design brand names. In addition, the company 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, as well as manufactures and sells recreational boats under the Chris-Craft and Barletta brand names. Further, it 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 Eden Prairie, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.8B | $117M | $26M | $90M | 2.1% | -5.9% | 97.7% |
| 2024 | $3.0B | $118M | $13M | $99M | 1.0% | -14.8% | -94.0% |
| 2023 | $3.5B | $347M | $216M | $211M | 15.8% | -29.6% | -44.7% |
| 2022 | $5.0B | $610M | $391M | $313M | 30.9% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,957.70 | 3,490.70 | 2,973.50 | 2,798.20 |
| Operating Revenue | - | 4,957.70 | 3,490.70 | 2,973.50 | 2,798.20 |
| Cost Of Revenue | - | 4,028.40 | 2,904.60 | 2,540 | 2,433.10 |
| Gross Profit | - | 929.30 | 586.10 | 433.50 | 365.10 |
| Operating Expense | - | 345.80 | 285.40 | 303 | 307.90 |
| Selling General And Administration | - | 316.40 | 267.70 | 280 | 285.80 |
| Total Expenses | - | 4,374.20 | 3,190 | 2,843 | 2,741 |
| Operating Income | - | 583.50 | 300.70 | 130.50 | 57.20 |
| Total Operating Income As Reported | - | 583.50 | 300.70 | 100.20 | 57.20 |
| EBITDA | - | 609.60 | 346.60 | 118.10 | 116.60 |
| Normalized EBITDA | - | 609.60 | 346.60 | 181.10 | 118.60 |
| EBIT | - | 556 | 299.70 | 59.50 | 56 |
| Interest Expense | - | 41.30 | 20.50 | 21.10 | 25.90 |
| Net Interest Income | - | -41.30 | -20.50 | -21.10 | -25.90 |
| Other Non Operating Income Expenses | - | -27.50 | -1 | -8 | 0.80 |
| Other Income Expense | - | -27.50 | -1 | -71 | -1.20 |
| Interest Expense Non Operating | - | 41.30 | 20.50 | 21.10 | 25.90 |
| Net Non Operating Interest Income Expense | - | -41.30 | -20.50 | -21.10 | -25.90 |
| Pretax Income | - | 514.70 | 279.20 | 38.40 | 30.10 |
| Tax Provision | - | 124.10 | 63.30 | 25.40 | 4.40 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -13.23 | -0.29 |
| Net Income Continuous Operations | - | 390.60 | 215.90 | 13 | 25.70 |
| Net Income From Continuing And Discontinued Operation | - | 390.60 | 215.90 | 13 | 25.70 |
| Net Income From Continuing Operation Net Minority Interest | - | 390.60 | 215.90 | 13 | 25.70 |
| Net Income | - | 390.60 | 215.90 | 13 | 25.70 |
| Net Income Common Stockholders | - | 390.60 | 215.90 | 13 | 25.70 |
| Net Income Including Noncontrolling Interests | - | 390.60 | 215.90 | 13 | 25.70 |
| Normalized Income | - | 390.60 | 215.90 | 62.77 | 27.41 |
| Diluted NI Availto Com Stockholders | - | 390.60 | 215.90 | 13 | 25.70 |
| Basic Average Shares | - | 32.48 | 30.30 | 29.20 | 28.20 |
| Diluted Average Shares | - | 32.98 | 35.40 | 29.50 | 28.30 |
| Reconciled Depreciation | - | 53.60 | 46.90 | 58.60 | 60.60 |
| Reconciled Cost Of Revenue | - | 4,004.20 | 2,875.40 | 2,504.40 | 2,394.60 |
| Total Unusual Items | - | 0 | 0 | -63 | -2 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -63 | -2 |
| Special Income Charges | - | 0 | 0 | -63 | -2 |
| Other Special Charges | - | - | - | 32.70 | 2 |
| Impairment Of Capital Assets | - | 0 | 0 | 30.30 | 0 |
| Depreciation Amortization Depletion Income Statement | - | 29.40 | 17.70 | 23 | 22.10 |
| Depreciation And Amortization In Income Statement | - | 29.40 | 17.70 | 23 | 22.10 |
| Amortization | - | 29.40 | 17.70 | 23 | 22.10 |
| Amortization Of Intangibles Income Statement | - | 29.40 | 17.70 | 23 | 22.10 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Winnebago Industries, Inc.this co. | WGO | $795M | 30.93β premium | 0.65 | 2.1% | 10.30 |
| Arko Corp. | ARKO | $871M | 38.28 | 3.26 | 8.5% | 12.26 |
| Movado Group, Inc. | MOV | $834M | 31.40 | 1.64 | 5.2% | 15.40 |
| EVgo, Inc. | EVGO | $782M | -18.80 | -6.69 | 35.6% | -46.15 |
| MarineMax, Inc. | HZO | $768M | - |
| - |
| - |
| - |
| - |
| - |
| - |
| 0.82 |
| -3.4% |
| 22.13 |
| Golden Entertainment, Inc. | GDEN | $754M | -124.72 | 1.79 | -1.4% | 10.88 |
| Solid Power, Inc. | SLDP | $747M | -8.00 | 1.79 | -22.4% | -9.95 |
| Fox Factory Holding Corp. | FOXF | $744M | - | 1.11 | -81.3% | - |
| Cracker Barrel Old Country Store, Inc. | CBRL | $738M | 15.90 | 1.60 | 10.0% | 9.72 |
| Peer Median | - | 3.95 | 1.62 | 1.9% | 10.88 | |