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Thor IndustriesTHO -1.50%73 Graham Number is $61.45 as of Apr. 2026, which is 3101% above its 10-year median of 1.92. GuruFocus rates THO with a GF Score™ of 73/100 and a GF Value™ of $95.54 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 984 Vehicles & Parts companies, Thor Industries ranks worse than 53.15% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-18), the stock price of Thor Industries is $76.27. Thor Industries's graham number for the quarter that ended in Apr. 2026 was $61.45. Therefore, Thor Industries's Price to Graham Number ratio for today is 1.24.
The historical rank and industry rank for Thor Industries's Graham Number or its related term are showing as below:
THO'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.03 Med: 1.92 Max: 11.32
Current: 1.24
During the past 13 years, the highest Price to Graham Number ratio of Thor Industries was 11.32. The lowest was 1.03. And the median was 1.92.
THO's Price-to-Graham-Number is ranked worse than 53.15% of 984
companies
in the Vehicles & Parts industry
Industry Median: 1.14
vs THO: 1.24
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Thor Industries (NYSE:THO) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Thor Industries's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Apr. 2026 )
=
76.27
/
61.45
=
1.24
* 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.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Thor Industries Graham Number Related Terms
Thor Industries Graham Number Historical Data
* Premium members only.
The historical data trend for Thor Industries's Graham Number 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.
For the Recreational Vehicles subindustry, Thor Industries's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number 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 Price-to-Graham-Number vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Thor Industries's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Thor Industries's Price-to-Graham-Number falls into.
* 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 (THO) has a Graham Number of $61.45 as of Apr. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Thor Industries and its competitors. This is 3101% above median its historical median of 1.92. Over the past decade, Thor Industries' Graham Number has ranged from 1.03 to 11.32. According to the industry distribution chart, Thor Industries ranks #523 out of 984 companies in the Vehicles & Parts industry, placing it in the top 53.2%.
Is Thor Industries' Graham Number too high?
Thor Industries' current Graham Number of $61.45 is 3101% above median its 10-year median of 1.92. Over the past 10 years, this metric has ranged from a low of 1.03 to a high of 11.32. The Vehicles & Parts industry median Graham Number is 1.14. Thor Industries' value of $61.45 is 5290.4% above this industry median. Based on the distribution chart, Thor Industries ranks #523 out of 984 companies in the Vehicles & Parts industry, which is below the industry midpoint. Overall, Thor Industries has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thor Industries' Graham Number compare to PII and PATK?
According to the Vehicles & Parts industry distribution chart, Thor Industries ranks #523 out of 984 companies for Graham Number. This places Thor Industries in the lower half of its industry. The industry median Graham Number is 1.14. Thor Industries' value of $61.45 is 5290.4% above this benchmark. Historically, Thor Industries' own Graham Number has ranged from 1.03 to 11.32 over the past decade. While the company's 10-year median is 1.92 vs. the industry median of 1.14, Thor Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Vehicles & Parts company?
The median Graham Number among Vehicles & Parts companies is 1.14, based on 984 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thor Industries's current Graham Number of $61.45 is 5290.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Thor Industries and its competitors. For the Vehicles & Parts industry, the median Graham Number is 1.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thor Industries's current Graham Number is $61.45, which is 3101% above median its own 10-year median of 1.92. 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 $95.54, compared to a current price of $76.27 — trading 20.2% below its estimated fair value. The current Graham Number is $61.45, which is 3101% above median its 10-year median of 1.92 and 5290.4% above the Vehicles & Parts industry median of 1.14. Thor Industries' overall GF Score™ is 73/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Thor Industries (THO), the current Graham Number is $61.45 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 $76.27 is trading 20.2% below its estimated GF Value™ of $95.54.
GuruFocus considers Thor Industries to be Modestly Undervalued.
Key valuation signals for THO:
Graham Number: $61.45 (3101% above median its 10-year median of 1.92)
GF Value™: $95.54 vs. price of $76.27 (20.2% below fair value)
Industry Position: 5290.4% above the Vehicles & Parts median (#523 of 984)
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.
73GF Score
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