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Cash flow from operations refers to the cash brought in through a company's normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.
Thor Industries (NYSE:THO) Cash Flow from Operations Explanation
For companies reported in indirect method, cash flow from operations contains six items:
1. Net Income From Continuing Operations:
Net Income From Continuing Operations indicates the net income that a firm brings in from ongoing business activities. These activities are expected to continue into the next reporting period. It excludes extraordinary items, income from the cumulative effects of accounting changes, non-recurring items, income from tax loss carry forward, and preferred dividends.
Thor Industries's net income from continuing operations for the
three
months ended in Apr. 2026 was $96 Mil.
2. Depreciation, Depletion and Amortization:
Depreciation is a present expense that accounts for the past cost of an asset that is now providing benefits.
Depletion and amortization are synonyms for depreciation.
Generally:
The term depreciation is used when discussing man made tangible assets
The term depletion is used when discussing natural tangible assets
The term amortization is used when discussing intangible assets
Thor Industries's depreciation, depletion and amortization for the
three
months ended in Apr. 2026 was $66 Mil.
3. Change In Working Capital:
Working Capital is a measure of a company's short term liquidity or its ability to cover short term liabilities. It is defined as the difference between a company's current assets and current liabilities. Changes in Working Capital is reported in the cash flow statement since it is one of the major ways in which net income can differ from operating cash flow.
Thor Industries's change in working capital for the
three
months ended in Apr. 2026 was $84 Mil. It means Thor Industries's working capital
increased by $84 Mil
from Jan. 2026 to Apr. 2026 .
4. Deferred Tax:
It is the cash flow generated from deferred tax.
Thor Industries's cash flow from deferred tax for the
three
months ended in Apr. 2026 was $5 Mil.
Thor Industries's cash from discontinued operating Activities for the
three
months ended in Apr. 2026 was $0 Mil.
6. Asset Impairment Charge:
It is the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.
Thor Industries's asset impairment charge for the
three
months ended in Apr. 2026 was $0 Mil.
7. Stock Based Compensation:
It is a way corporations use stock options to reward employees. It provides executives and employees the opportunity to share in the growth of the company and, if structured properly, can align their interests with the interests of the company's shareholders and investors, without burning the company's cash on hand.
Thor Industries's stock based compensation for the
three
months ended in Apr. 2026 was $7 Mil.
8. Cash Flow from Others:
These are cash differences caused by the change of inventory, accounts payable, accounts receivable etc. For instance, if a company pays its suppliers slower, its cash position will build up faster. If a company receives payments from its customers slower, its account receivables will rise, and its cash position will grow more slowly (or even shrink).
Thor Industries's cash flow from others for the
three
months ended in Apr. 2026 was $-23 Mil.
Thor Industries Cash Flow from Operations Related Terms
Thor Industries Cash Flow from Operations Historical Data
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The historical data trend for Thor Industries's Cash Flow from Operations can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Thor Industries Cash Flow from Operations Calculation
Cash flow from operations refers to the cash brought in through a company's normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.
Thor Industries's Cash Flow from Operations for the fiscal year that ended in Jul. 2025 is calculated as:
Cash Flow from Operations for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $336 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Cash Flow from Operations of $336 Mil mean?
Thor Industries (THO) has a Cash Flow from Operations of $336 Mil as of Apr. 2026. Cash Flow from Operations is the amount of cash earned or paid from standard business operations. View historical data for Thor Industries and its competitors.
Is Thor Industries' Cash Flow from Operations too high?
Thor Industries' current Cash Flow from Operations is $336 Mil. Overall, Thor Industries has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thor Industries' Cash Flow from Operations compare to PII and PATK?
Thor Industries' Cash Flow from Operations of $336 Mil can be compared against companies in the Vehicles & Parts industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash Flow from Operations for a Vehicles & Parts company?
A good Cash Flow from Operations depends on the Vehicles & Parts industry context. However, Cash Flow from Operations should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash Flow from Operations mean?
A high Cash Flow from Operations can signal that a stock is expensive relative to its fundamentals. Cash Flow from Operations is the amount of cash earned or paid from standard business operations. View historical data for Thor Industries and its competitors. Thor Industries's current Cash Flow from Operations is $336 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thor Industries stock overvalued right now?
Based on GuruFocus' analysis, Thor Industries (THO) is currently considered Modestly Undervalued. The stock's GF Value™ is $94.70, compared to a current price of $79.55 — trading 16% below its estimated fair value. The current Cash Flow from Operations is $336 Mil. Thor Industries' overall GF Score™ is 80/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash Flow from Operations calculated?
Cash Flow from Operations is calculated from a company's financial statements. For Thor Industries (THO), the current Cash Flow from Operations is $336 Mil as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Thor Industries (THO) Overvalued in 2026?
Based on GuruFocus' analysis, Thor Industries stock appears to be undervalued.
The current stock price of $79.55 is trading 16% below its estimated GF Value™ of $94.70.
GuruFocus considers Thor Industries to be Modestly Undervalued.
Key valuation signals for THO:
Cash Flow from Operations: $336 Mil
GF Value™: $94.70 vs. price of $79.55 (16% below fair value)
No single metric tells the full story. See the THO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Based in Elkhart, Indiana, Thor Industries manufactures Class A, Class B, and Class C motor homes along with travel trailers and fifth-wheel towables across about 35 brands. Through the acquisition of Erwin Hymer in 2019, the company expanded its geographic footprint and now produces various motorized and towable recreational vehicles for Europe, including motor caravans, camper vans, urban vehicles, caravans, and other RV-related products and services. The company has also begun generating revenue through aftermarket component parts via the acquisition of Airxcel in 2021; however, this is still a nascent part of the business, as it accounted for less than 10% of fiscal 2025 total sales. In fiscal 2025, the company wholesaled 181,388 units and generated $9.6 billion in revenue.
80GF Score
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