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Thor Industries Altman Z-Score

: 4.29 (As of Today)
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Good Sign:

Altman Z-score of 4.31 is strong.

Thor Industries has a Altman Z-Score of 4.29, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.

The zones of discrimination were as such:

When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.

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

THO' s Altman Z-Score Range Over the Past 10 Years
Min: 2.56   Med: 7.41   Max: 10.46
Current: 4.31

During the past 13 years, Thor Industries's highest Altman Z-Score was 10.46. The lowest was 2.56. And the median was 7.41.


Thor Industries Altman Z-Score Historical Data

The historical data trend for Thor Industries's Altman Z-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
Altman Z-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.05 8.58 2.73 3.39 4.14

Thor Industries Quarterly Data
Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22
Altman Z-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 3.92 4.14 3.69 4.00 4.17

Competitive Comparison

For the Recreational Vehicles subindustry, Thor Industries's Altman Z-Score, along with its competitors' market caps and Altman Z-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 Altman Z-Score Distribution

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

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



Thor Industries Altman Z-Score Calculation

Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

Thor Industries's Altman Z-Score for today is calculated with this formula:

Z=1.2*X1+1.4*X2+3.3*X3+0.6*X4+1.0*X5
=1.2*0.1793+1.4*0.4597+3.3*0.1953+0.6*1.1866+1.0*2.0792
=4.29

* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.

Trailing Twelve Months (TTM) ended in Apr. 2022:
Total Assets was $7,736 Mil.
Total Current Assets was $3,359 Mil.
Total Current Liabilities was $1,972 Mil.
Retained Earnings was $3,556 Mil.
Pre-Tax Income was 462.407 + 346.253 + 312.842 + 301.624 = $1,423 Mil.
Interest Expense was -22.859 + -24.598 + -20.913 + -19.094 = $-87 Mil.
Revenue was 4657.517 + 3875.018 + 3958.224 + 3592.968 = $16,084 Mil.
Market Cap (Today) was $5,096 Mil.
Total Liabilities was $4,294 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(3358.514 - 1971.657)/7735.5
=0.1793

X2=Retained Earnings/Total Assets
=3555.766/7735.5
=0.4597

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(1423.126 - -87.464)/7735.5
=0.1953

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=5095.662/4294.317
=1.1866

X5=Revenue/Total Assets
=16083.727/7735.5
=2.0792

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

Thor Industries has a Altman Z-Score of 4.29 indicating it is in Safe Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


Thor Industries  (NYSE:THO) Altman Z-Score Explanation

X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.

X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.

X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.

X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.

X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


Thor Industries Altman Z-Score Related Terms

Thank you for viewing the detailed overview of Thor Industries's Altman Z-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

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