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LCII

LCI Industries

LCII

LCI Industries • NYSE
$113.67 ▼ -0.79% (-0.90)
Market Cap $2.75 B
52w High $122.48
52w Low $72.31
Dividend Yield 4.60%
P/E 15.9
Volume 190.01K
Outstanding Shares 24.20M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.036B ▼ $177.174M ▼ $62.493M ▲ 6.029% ▲ $2.56 ▲ $124.834M ▲
Q2-2025 $1.107B ▲ $182.217M ▲ $57.635M ▲ 5.205% ▲ $2.29 ▲ $118.127M ▲
Q1-2025 $1.046B ▲ $170.432M ▲ $49.438M ▲ 4.728% ▲ $1.94 ▲ $102.806M ▲
Q4-2024 $803.138M ▼ $153.272M ▼ $9.547M ▼ 1.189% ▼ $0.37 ▼ $45.827M ▼
Q3-2024 $915.497M $166.07M $35.612M 3.89% $1.4 $85.16M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $199.721M ▲ $3.169B ▼ $1.807B ▲ $1.362B ▼
Q2-2025 $191.931M ▼ $3.174B ▲ $1.789B ▲ $1.385B ▲
Q1-2025 $231.243M ▲ $3.1B ▲ $1.733B ▲ $1.367B ▼
Q4-2024 $165.756M ▲ $2.895B ▼ $1.508B ▼ $1.387B ▼
Q3-2024 $161.184M $3.025B $1.607B $1.418B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $62.493M ▲ $97.167M ▼ $1.714M ▲ $-92.114M ▼ $7.79M ▲ $80.87M ▼
Q2-2025 $57.635M ▲ $112.219M ▲ $-81.31M ▼ $-70.973M ▼ $-39.312M ▼ $99.483M ▲
Q1-2025 $49.438M ▲ $42.718M ▼ $-42.04M ▼ $66.871M ▲ $65.487M ▲ $33.68M ▼
Q4-2024 $9.547M ▼ $106.596M ▲ $-10.532M ▼ $-91.033M ▼ $4.572M ▼ $95.653M ▲
Q3-2024 $35.612M $78.406M $-9.833M $-38.095M $30.766M $68.344M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aftermarket Segment
Aftermarket Segment
 $180.00M ▲$220.00M ▲$270.00M ▲$250.00M ▼
Motorhomes
Motorhomes
 $50.00M ▲$60.00M ▲$60.00M ▲$60.00M ▲
OEM Segment
OEM Segment
 $0 ▲$0 ▲$0 ▲$790.00M ▲
OEMs Adjacent Industries
OEMs Adjacent Industries
 $250.00M ▲$290.00M ▲$340.00M ▲$320.00M ▼
Travel Trailer And Fifth Wheels
Travel Trailer And Fifth Wheels
 $330.00M ▲$470.00M ▲$440.00M ▼$410.00M ▼

Five-Year Company Overview

Income Statement

Income Statement LCI’s results clearly show a cyclical pattern. Sales surged during the pandemic boom and have since pulled back to a more normal level, landing below the peak but no longer falling sharply. Profit margins tightened when demand cooled but have started to recover, with operating and net profits improving from last year, though still well below the best years. Overall, the income statement tells a story of a company that rode a very strong upcycle, absorbed a meaningful downturn, and is now stabilizing with signs of margin repair but not yet back to peak profitability.

Balance Sheet

Balance Sheet The balance sheet looks gradually stronger over time. Total assets have held relatively steady, while shareholder equity has grown, which supports a more resilient financial base. Debt rose earlier in the period but has been brought down meaningfully, easing leverage and financial risk. Cash remains modest, but the combination of lower debt and higher equity suggests a more balanced and less stretched financial position than a few years ago, though not overly cash-rich.

Cash Flow

Cash Flow Cash generation has been a relative bright spot. After a year of strained operating cash flow during the boom and inventory build, the business has since produced solid, consistent cash from operations. Free cash flow has been positive in most years, even through the demand reset, helped by disciplined, modest investment spending. This pattern indicates the core business can throw off cash in normal conditions, giving LCI flexibility to service debt, fund dividends or buybacks, and support selective growth initiatives, as long as industry conditions do not deteriorate sharply.

Competitive Edge

Competitive Edge LCI holds a strong and entrenched position in the RV supply chain. It acts as a one‑stop supplier for many manufacturers, providing a wide range of components from chassis and suspension to furniture, appliances, and electronics. Its scale, broad catalog, and proximity to large OEMs deepen relationships and make it harder for smaller rivals to displace. A sizable aftermarket business adds a more recurring stream of sales. The main risk is exposure to a very cyclical end market, but within that market LCI appears to be one of the key, hard‑to‑replace partners.

Innovation and R&D

Innovation and R&D Innovation is a central part of LCI’s strategy. The company has moved beyond basic parts and into smart, connected systems like its OneControl platform, which integrates many RV functions into a single app. It is also investing in advanced safety systems, improved suspension and leveling solutions, and more efficient appliances through brands like Furrion. Behind the scenes, LCI uses tools like augmented reality, automation, and robotics to improve design and manufacturing. Combined with a steady stream of acquisitions that bring in new technologies and product lines, this creates a technology and portfolio edge that supports its moat, although it requires ongoing investment and careful integration.

Summary

LCI looks like a leading, innovation‑driven supplier operating in a very cyclical niche. Financially, it has come off an exceptional boom, weathered a downturn, and is now in a phase of normalization with improving margins and healthier leverage. The business generates solid cash, which helps offset limited cash on hand and supports its acquisition‑heavy growth approach. Strategically, its wide product range, tight OEM relationships, aftermarket presence, and focus on smart and safety technologies give it a clear competitive edge. The key things to watch are RV demand cycles, execution on new technologies and acquisitions, and the company’s discipline in maintaining a strong balance sheet through future ups and downs.

NEWS

November 13, 2025 · 4:15 PM UTC

LCI Industries Declares Quarterly Cash Dividend

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November 6, 2025 · 7:00 AM UTC

LCI Industries to Participate in Upcoming Truist Conference

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October 30, 2025 · 7:00 AM UTC

LCI Industries Reports Third Quarter Financial Results

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October 14, 2025 · 7:00 AM UTC

LCI Industries Third Quarter 2025 Conference Call Scheduled for October 30, 2025, at 8:30 a.m. ET

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October 13, 2025 · 7:00 AM UTC

Lippert Acquires Bigfoot Hydraulic Systems From Leveltron

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