Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Thor Industries's retained earnings for the quarter that ended in Apr. 2026 was $4,462 Mil.
Thor Industries's quarterly retained earnings
declined
from Oct. 2025 ($4,401 Mil) to Jan. 2026 ($4,392 Mil) but then
increased
from Jan. 2026 ($4,392 Mil) to Apr. 2026 ($4,462 Mil).
Thor Industries's annual retained earnings
increased
from Jul. 2023 ($4,092 Mil) to Jul. 2024 ($4,255 Mil) and
increased
from Jul. 2024 ($4,255 Mil) to Jul. 2025 ($4,407 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Thor Industries Retained Earnings Historical Data
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The historical data trend for Thor Industries's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
Thor Industries (THO) has a Retained Earnings of $4,462 Mil as of Apr. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Thor Industries and its competitors.
Is Thor Industries' Retained Earnings too high?
Thor Industries' current Retained Earnings is $4,462 Mil. 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' Retained Earnings compare to PII and PATK?
Thor Industries' Retained Earnings of $4,462 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 Retained Earnings for a Vehicles & Parts company?
A good Retained Earnings depends on the Vehicles & Parts industry context. However, Retained Earnings 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 Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Thor Industries and its competitors. Thor Industries's current Retained Earnings is $4,462 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 $95.71, compared to a current price of $72.86 — trading 23.9% below its estimated fair value. The current Retained Earnings is $4,462 Mil. 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 Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Thor Industries (THO), the current Retained Earnings is $4,462 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 $72.86 is trading 23.9% below its estimated GF Value™ of $95.71.
GuruFocus considers Thor Industries to be Modestly Undervalued.
Key valuation signals for THO:
Retained Earnings: $4,462 Mil
GF Value™: $95.71 vs. price of $72.86 (23.9% 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.
73GF Score
Get the complete analysis for THO
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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