GURUFOCUS.COM » STOCK LIST » USA » NYSE » Thor Industries Inc (NYSE:THO) » Definitions » Piotroski F-Score
Switch to:

Thor Industries Piotroski F-Score

: 8 (As of Today)
View and export this data going back to 1986. Start your Free Trial

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Thor Industries has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Thor Industries's Piotroski F-Score or its related term are showing as below:

THO' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of Thor Industries was 9. The lowest was 1. And the median was 6.


Thor Industries Piotroski F-Score Historical Data

The historical data trend for Thor Industries's Piotroski F-Score 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.

* Premium members only.

Thor Industries Annual Data
Trend Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 Jul20 Jul21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 7.00 3.00 5.00 7.00

Thor Industries Quarterly Data
Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 7.00 6.00 7.00 8.00

Competitive Comparison

For the Recreational Vehicles subindustry, Thor Industries's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Thor Industries Piotroski F-Score Distribution

For the Vehicles & Parts industry and Consumer Cyclical sector, Thor Industries's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Thor Industries's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Apr22) TTM:Last Year (Apr21) TTM:
Net Income was 230.28 + 242.242 + 266.568 + 348.051 = $1,087 Mil.
Cash Flow from Operations was 351.409 + 41.792 + 256.26 + 339.497 = $989 Mil.
Revenue was 3592.968 + 3958.224 + 3875.018 + 4657.517 = $16,084 Mil.
Gross Profit was 595.964 + 655.424 + 675.274 + 807.445 = $2,734 Mil.
Average Total Assets from the begining of this year (Apr21)
to the end of this year (Apr22) was
(6713.967 + 6654.088 + 7768.771 + 7665.145 + 7735.5) / 5 = $7307.4942 Mil.
Total Assets at the begining of this year (Apr21) was $6,714 Mil.
Long-Term Debt & Capital Lease Obligation was $1,984 Mil.
Total Current Assets was $3,359 Mil.
Total Current Liabilities was $1,972 Mil.
Net Income was 119.168 + 113.757 + 132.524 + 183.311 = $549 Mil.

Revenue was 2324.28 + 2537.36 + 2727.788 + 3459.264 = $11,049 Mil.
Gross Profit was 347.357 + 378.852 + 414.877 + 505.28 = $1,646 Mil.
Average Total Assets from the begining of last year (Apr20)
to the end of last year (Apr21) was
(5612.29 + 5771.46 + 5860.922 + 6369.546 + 6713.967) / 5 = $6065.637 Mil.
Total Assets at the begining of last year (Apr20) was $5,612 Mil.
Long-Term Debt & Capital Lease Obligation was $1,718 Mil.
Total Current Assets was $2,846 Mil.
Total Current Liabilities was $1,952 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Thor Industries's current Net Income (TTM) was 1,087. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Thor Industries's current Cash Flow from Operations (TTM) was 989. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Apr21)
=1087.141/6713.967
=0.1619223

ROA (Last Year)=Net Income/Total Assets (Apr20)
=548.76/5612.29
=0.09777827

Thor Industries's return on assets of this year was 0.1619223. Thor Industries's return on assets of last year was 0.09777827. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Thor Industries's current Net Income (TTM) was 1,087. Thor Industries's current Cash Flow from Operations (TTM) was 989. ==> 989 <= 1,087 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Apr22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr21 to Apr22
=1983.596/7307.4942
=0.27144681

Gearing (Last Year: Apr21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr20 to Apr21
=1718.127/6065.637
=0.28325582

Thor Industries's gearing of this year was 0.27144681. Thor Industries's gearing of last year was 0.28325582. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Apr22)=Total Current Assets/Total Current Liabilities
=3358.514/1971.657
=1.70339669

Current Ratio (Last Year: Apr21)=Total Current Assets/Total Current Liabilities
=2845.788/1951.921
=1.4579422

Thor Industries's current ratio of this year was 1.70339669. Thor Industries's current ratio of last year was 1.4579422. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Thor Industries's number of shares in issue this year was 55.069. Thor Industries's number of shares in issue last year was 55.723. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2734.107/16083.727
=0.16999213

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1646.366/11048.692
=0.14901004

Thor Industries's gross margin of this year was 0.16999213. Thor Industries's gross margin of last year was 0.14901004. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Apr21)
=16083.727/6713.967
=2.39556241

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Apr20)
=11048.692/5612.29
=1.96866021

Thor Industries's asset turnover of this year was 2.39556241. Thor Industries's asset turnover of last year was 1.96866021. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+1+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Thor Industries has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Thor Industries  (NYSE:THO) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Thor Industries Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Thor Industries's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Thor Industries Business Description

Thor Industries logo
Traded in Other Exchanges
Address
601 East Beardsley Avenue, Elkhart, IN, USA, 46514-3305
Thor Industries Inc is an American manufacturer of recreational vehicles through its subsidiaries. The company reports through three segments: North American towable recreational vehicles, North American motorized recreational vehicles, and European recreational vehicles. The North American towable RV business segments operations by brand: Airstream, Heartland, Jayco, Keystone, and KZ. North American motorized RV does the same through the Airstream, Jayco, and Thor Motor Coach brands. Thor's European RV business consists solely of the Erwin Hymer Group, which manufactures both towable and recreational vehicles in Europe. EHG's operations include miscellaneous RV-related products and services. Across all segments, the firm distributes its RVs to independent dealers.
Executives
Gasper Trevor Q. officer: VP, General Counsel and Sec. 601 EAST BEARDSLEY AVE. ELKHART IN 46514
Hennington Christina director 1000 NICOLLET MALL MINNEAPOLIS MN 55403
Hurd Laurel director C/O NEWELL BRANDS INC. 6655 PEACHTREE DUNWOODY ROAD ATLANTA GA 30328
Kelley William J. Jr director USG CORPORATION 550 WEST ADAMS STREET CHICAGO IL 60661
Hjelmaker Josef officer: Chief Innovation Officer C/O THOR INDUSTRIES, INC. 601 E. BEARDSLEY AVE. ELKHART IN 46514-3305
James Troy officer: SVP International Operations C/O THOR INDUSTRIES, INC. 601 EAST BEARDSLEY AVENUE ELKHART IN 46514-3305
Huntington Amelia director C/O THOR INDUSTRIES, INC. 601 EAST BEARDSLEY AVE. ELKHART IN 46514-3305
Klein Christopher J director 520 LAKE COOK ROAD DEERFIELD IL 60015
Ziemer James L director C/O HARLEY DAVIDSON 3700 W. JUNEAU AVE MILWAUKEE WI 53208
Siegel Alan director C/O THE WET SEAL, INC. 26972 BURBANK FOOTHILL RANCH CA 92610
Kosowsky J Allen director C/O THOR INDUSTRIES, INC. 419 WEST PIKE STREET JACKSON CENTER OH 45334-0629
Suwinski Jan director 9450 SEWARD RD C/O OHIO CASUALTY GROUP FAIRFIELD OH 45014
Zuhl Colleen A officer: VP & Chief Financial Officer PO BOX 3300 ELKHART IN 46515
Woelfer W. Todd officer: Sr. VP, Gen Counsel & Sec. PO BOX 3300 ELKHART IN 46515
Graves Andrew E director BRUNSWICK CORPORATION 1 N FIELD COURT LAKE FOREST IL 60045

Thor Industries Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)