Thor IndustriesTHO +1.85%73 ROC (Joel Greenblatt) % is 25.91% as of Apr. 2026, which is 50% below its 10-year median of 51.84. GuruFocus rates THO with a GF Score™ of 73/100 and a GF Value™ of $95.90 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,334 Vehicles & Parts companies, Thor Industries ranks better than 66.94% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Thor Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 25.91%.
The historical rank and industry rank for Thor Industries's ROC (Joel Greenblatt) % or its related term are showing as below:
THO'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 18.39 Med: 51.84 Max: 108.13
Current: 18.39
During the past 13 years, Thor Industries's highest ROC (Joel Greenblatt) % was 108.13%. The lowest was 18.39%. And the median was 51.84%.
THO's ROC (Joel Greenblatt) % is ranked better than 66.94% of 1334
companies
in the Vehicles & Parts industry
Industry Median: 11.99
vs THO: 18.39
Thor Industries's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -18.60% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Thor Industries ROC (Joel Greenblatt) % Related Terms
Thor Industries ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Thor Industries's ROC (Joel Greenblatt) % 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.
THO vs PII, PATK, HOG: ROC (Joel Greenblatt) % Comparison
For the Recreational Vehicles subindustry, Thor Industries's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Thor Industries's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Thor Industries's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Apr. 2026) EBIT data.
* 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 ROC (Joel Greenblatt) % of 25.91% mean?
Thor Industries (THO) has a ROC (Joel Greenblatt) % of 25.91% as of Apr. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Thor Industries and its competitors. This is 50% below median its historical median of 51.84. Over the past decade, Thor Industries' ROC (Joel Greenblatt) % has ranged from 18.39 to 108.13. According to the industry distribution chart, Thor Industries ranks #441 out of 1334 companies in the Vehicles & Parts industry, placing it in the top 33.1%.
Is Thor Industries' ROC (Joel Greenblatt) % too high?
Thor Industries' current ROC (Joel Greenblatt) % of 25.91% is 50% below median its 10-year median of 51.84. Over the past 10 years, this metric has ranged from a low of 18.39 to a high of 108.13. The Vehicles & Parts industry median ROC (Joel Greenblatt) % is 11.99. Thor Industries' value of 25.91% is 116.1% above this industry median. Based on the distribution chart, Thor Industries ranks #441 out of 1334 companies in the Vehicles & Parts industry, which is above 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' ROC (Joel Greenblatt) % compare to PII and PATK?
According to the Vehicles & Parts industry distribution chart, Thor Industries ranks #441 out of 1334 companies for ROC (Joel Greenblatt) %. This puts Thor Industries in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.99. Thor Industries' value of 25.91% is 116.1% above this benchmark. Historically, Thor Industries' own ROC (Joel Greenblatt) % has ranged from 18.39 to 108.13 over the past decade. While the company's 10-year median is 51.84 vs. the industry median of 11.99, 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 ROC (Joel Greenblatt) % for a Vehicles & Parts company?
The median ROC (Joel Greenblatt) % among Vehicles & Parts companies is 11.99, based on 1,334 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thor Industries's current ROC (Joel Greenblatt) % of 25.91% is 116.1% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Thor Industries and its competitors. For the Vehicles & Parts industry, the median ROC (Joel Greenblatt) % is 11.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thor Industries's current ROC (Joel Greenblatt) % is 25.91%, which is 50% below median its own 10-year median of 51.84. 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 $95.90, compared to a current price of $76.50 — trading 20.2% below its estimated fair value. The current ROC (Joel Greenblatt) % is 25.91%, which is 50% below median its 10-year median of 51.84 and 116.1% above the Vehicles & Parts industry median of 11.99. 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 ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Thor Industries (THO), the current ROC (Joel Greenblatt) % is 25.91% 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 $76.50 is trading 20.2% below its estimated GF Value™ of $95.90.
GuruFocus considers Thor Industries to be Modestly Undervalued.
Key valuation signals for THO:
ROC (Joel Greenblatt) %: 25.91% (50% below median its 10-year median of 51.84)
GF Value™: $95.90 vs. price of $76.50 (20.2% below fair value)
Industry Position: 116.1% above the Vehicles & Parts median (#441 of 1334)
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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