Analysts have turned bearish after recent results, leading to reduced revenue forecasts and a significant cut to EPS estimates. Despite this, the price target remains unchanged, implying analysts don't see a significant impact on THOR Industries' intrinsic value. However, the company's revenues are expected to underperform the wider industry.
THOR Industries' high P/E ratio is alarming considering its recent earnings drop. Investors seem overly optimistic, unwilling to sell their stock. If the current medium-term earnings trend persists, it could jeopardize shareholders' investments and potential investors might overpay.
Thor Industries' CEO warns higher interest rates could dampen consumers' willingness for large discretionary purchases. The slowdown in RV sales aligns with the rise in the Fed funds rate. Analysts predict a rebound for Thor Industries, but not until FY2025.
Rising interest rates have led to cautious wholesale ordering patterns, impacting Thor Industries' dealers. This has resulted in a significant drop in the company's stock and a cut in its 2024 guidance.
Insiders owning a significant number of THOR Industries shares is seen positively, aligning management's incentives with shareholders. However, the absence of insider buying over the past year is concerning. The company also has 2 warning signs that should not be ignored.
The diminishing returns on increasing amounts of capital at THOR Industries is a cause for concern. Despite the stock delivering a 97% return to shareholders over the last five years, the fundamentals do not inspire confidence for future investment.
THOR's revenue growth could be behind the share price increase over the years. The high-value dividend yield effectively attracts more investors, offsetting the share price return. Recent share price momentum could present an opportunity for new investors.
Shares of THOR Industries trade above fair value, hinting the market has already priced in its positive outlook. Though the price exceeds true value, the potential for future profit remains due to optimistic growth forecast.
索尔工业股票讨论区
5年来营收除2019年萎缩5.6%以外,有4年增长;营业利润和净利润在2019年暴跌后,直到2021年才真正走出谷底,净利润5年平均增速21%,近3年平均增速15.4%。每股收益曲线和净利润曲线基本吻合。2022前两季度营收增长49%,营业利润增长98%,净利润增长106%。
利润表显示利息费用2020年达到1亿,占营业利润的26%,2021年减少到了9354万,占营业利润的10%。2019和2020年净利润不如往年主要由于这两年的营业费用增加非常快。
净资产收益率在25%左右,2020和2021年分别降到了6.6%和10.1%,2021年恢复到了25%,这个水平还不错。
5年来资产负债率从38.4%提高到了63%后,逐步降回57.6%,是个相对重资产的公司。
应收帐款占营收9.4%,存货占营收14%,水平正常。商誉和无形资产32.3亿,占总资产42%,超过了32.5亿的总权益。
目前市盈率6.6,如果用两年平均利润4.4亿计算,市盈率为9.8,估值不算高,可以谨慎选择(⭐️)
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