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WGO

Winnebago Industries, Inc.

WGO

Winnebago Industries, Inc. • NYSE
$36.19 ▼ -0.69% (-0.25)
Market Cap $1.02 B
52w High $58.74
52w Low $28.00
Dividend Yield 1.37%
P/E 39.77
Volume 149.53K
Outstanding Shares 28.20M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $777.3M ▲ $79.1M ▲ $13.7M ▼ 1.763% ▼ $0.91 ▲ $19.9M ▼
Q3-2025 $775.1M ▲ $75.8M ▲ $17.6M ▲ 2.271% ▲ $0.62 ▲ $45.7M ▲
Q2-2025 $620.2M ▼ $75.3M ▼ $-400K ▲ -0.064% ▲ $-0.014 ▲ $21.4M ▲
Q1-2025 $625.6M ▼ $77.7M ▼ $-5.2M ▲ -0.831% ▲ $-0.18 ▲ $-900K ▼
Q4-2024 $720.9M $112M $-29.1M -4.037% $-0.99 $29.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $174M ▲ $2.265B ▲ $1.04B ▲ $1.225B ▲
Q3-2025 $10.5M ▼ $2.133B ▼ $916.8M ▼ $1.216B ▼
Q2-2025 $115.5M ▼ $2.194B ▼ $977.7M ▼ $1.216B ▼
Q1-2025 $262.5M ▼ $2.298B ▼ $1.058B ▼ $1.24B ▼
Q4-2024 $330.9M $2.384B $1.111B $1.273B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $17.6M ▲ $-25.3M ▼ $-10.3M ▼ $-69.4M ▲ $-105M ▲ $-36.1M ▼
Q2-2025 $-400K ▲ $-10.5M ▲ $-7.2M ▲ $-129.3M ▼ $-147M ▼ $-18.9M ▲
Q1-2025 $-5.2M ▲ $-16.7M ▼ $-8M ▲ $-43.7M ▼ $-68.4M ▼ $-26.7M ▼
Q4-2024 $-29.1M ▼ $40.7M ▼ $-9.5M ▲ $-18.4M ▲ $12.8M ▼ $29.5M ▼
Q3-2024 $29M $99.4M $-10.9M $-36.1M $52.4M $88.4M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q4-2025
Marine Segment
Marine Segment
 $90.00M ▲$80.00M ▼$100.00M ▲$90.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue and profit have come down meaningfully from the post‑pandemic boom. Sales peaked a few years ago and have gradually declined, reflecting a softer RV cycle and more cautious consumer spending. Profit margins have narrowed quite a bit as fixed costs meet lower volumes and pricing power eases. Earnings per share, which were very strong during the surge in demand, have fallen to a much lower level more recently. Overall, the business is still profitable, but operating performance is much less robust than during the peak years, and results look more like a normalization after an unusually strong period.

Balance Sheet

Balance Sheet The balance sheet looks generally sound and more conservative than a year ago. Total assets have held fairly steady over several years, suggesting controlled growth and no aggressive expansion. Debt has been reduced sharply in the most recent year, which lowers financial risk and interest burden. Cash balances have come down from prior highs but remain reasonable, and equity has trended upward over time, indicating that the company has retained value even through a weaker demand environment. In simple terms, the company appears to have used the good years to strengthen its financial footing rather than over‑leveraging.

Cash Flow

Cash Flow Winnebago continues to generate positive cash from its core operations, even as earnings have cooled. Operating cash flow was strongest during the demand boom and has eased since, but it remains solidly positive. Free cash flow follows the same pattern: lower than the peak years but still in the black, which gives the company flexibility to invest, pay down debt, and support shareholder returns. Capital spending has been steady and measured, not overly aggressive, signaling a disciplined approach to plant, equipment, and capacity. Overall, cash generation is respectable for a cyclical business in a softer part of the cycle.

Competitive Edge

Competitive Edge Winnebago holds a strong competitive position in RVs and has extended that into marine products. Its brand is highly recognizable and often synonymous with RV travel, which supports customer trust and repeat purchases. The company’s portfolio spans multiple well‑known brands and product categories, from luxury motorhomes to more affordable towables and high‑end pontoons, helping it reach different customer segments and smooth out demand swings. A broad, generally well‑regarded dealer network improves distribution and service, which is important for large, infrequent purchases like RVs. Vertical integration—making key components in‑house—adds cost and quality control that many rivals do not fully match. Together, these factors create a moat that is not bulletproof but is meaningful in a fragmented, competitive industry.

Innovation and R&D

Innovation and R&D Innovation is a clear focus and a key part of Winnebago’s story. The company is pushing into smart, connected RVs through its Winnebago Connect platform, making vehicles easier to monitor and control via mobile apps. It is also investing in electrification, with projects like the eRV2 electric motorhome and electric concepts in its marine brands, supported by its ownership of a specialized battery company. On the manufacturing side, proprietary construction methods and corrosion‑resistant processes aim to improve durability and perceived quality. The dedicated Advanced Technology Group coordinates work on alternative energy, connectivity, materials, and even early‑stage autonomous features. Product innovations like off‑road‑oriented vans, accessibility‑enhanced RVs, and differentiated pontoon designs show that R&D is feeding directly into real offerings, not just concepts.

Summary

Winnebago today looks like a cyclical manufacturer coming off an exceptionally strong upcycle but entering a more normal, slower environment. Revenue and profits have cooled, and margins are thinner, but the company remains profitable. The balance sheet is relatively strong, with reduced debt and stable asset and equity levels, suggesting prudent financial management. Cash flows are positive and adequate to fund investment and maintain flexibility. Competitively, Winnebago benefits from a powerful brand, diversified product lines, a broad dealer network, and meaningful in‑house capabilities. Its commitment to smart technology, electrification, and advanced manufacturing supports a differentiated offering and may help it capture future shifts in consumer preferences. The main uncertainty is how long the weaker demand cycle in RVs will last and how well innovation and brand strength can offset cyclical pressures over time.

NEWS

October 22, 2025 · 7:00 AM UTC

Winnebago Industries Reports Fourth Quarter and Full Year Fiscal 2025 Results

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September 25, 2025 · 4:05 PM UTC

Winnebago Industries to Announce Fourth Quarter and Fiscal 2025 Financial Results on October 22, 2025

Read more

September 9, 2025 · 11:16 AM UTC

Hershey RV Show Marks Multiple New RV Models and Breakthrough Technologies for Winnebago Industries' Premium RV Portfolio

Read more