Thor Industries Inc (THO)
Debt-to-equity ratio
| Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,101,260 | 1,209,050 | 1,390,470 | 1,271,880 | 1,291,310 | 1,641,080 | 1,758,510 | 1,714,640 | 1,754,240 | 1,983,600 | 2,167,730 | 2,232,270 | 1,594,820 | 1,718,130 | 1,821,520 | 1,585,020 | 1,652,830 | 1,965,980 | 1,746,610 | 1,780,090 |
| Total stockholders’ equity | US$ in thousands | 4,067,430 | 4,003,230 | 3,936,420 | 3,915,460 | 3,976,020 | 3,891,900 | 3,780,780 | 3,642,360 | 3,592,860 | 3,433,890 | 3,225,660 | 3,102,840 | 2,921,840 | 2,732,700 | 2,570,240 | 2,392,740 | 2,319,780 | 2,086,670 | 2,112,840 | 2,113,530 |
| Debt-to-equity ratio | 0.27 | 0.30 | 0.35 | 0.32 | 0.32 | 0.42 | 0.47 | 0.47 | 0.49 | 0.58 | 0.67 | 0.72 | 0.55 | 0.63 | 0.71 | 0.66 | 0.71 | 0.94 | 0.83 | 0.84 |
July 31, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,101,260K ÷ $4,067,430K
= 0.27
The debt-to-equity ratio of Thor Industries Inc has fluctuated over the past few years. From October 2019 to July 2020, the ratio steadily increased from 0.84 to 0.71, indicating a decrease in the proportion of debt relative to equity. However, from July 2020 to October 2021, there was a notable increase in the ratio to as high as 0.72, suggesting a greater reliance on debt financing during this period.
Subsequently, from October 2021 to January 2023, the debt-to-equity ratio continued to rise, reaching a peak of 0.47 in January 2023, signifying a significant increase in debt compared to equity. However, there was a slight decline in the ratio by October 2023 to 0.32, indicating a relative decrease in the level of debt in the capital structure.
From October 2023 to January 2024, there was a slight increase in the debt-to-equity ratio to 0.35, indicating a slight shift towards higher debt levels. However, the ratio decreased to 0.27 by July 2024, suggesting a more favorable position with less reliance on debt relative to equity at that point in time.
Overall, the trend in Thor Industries Inc's debt-to-equity ratio indicates some fluctuations in the company's capital structure management over the analyzed periods, with varying levels of debt utilization compared to equity.
Peer comparison
Jul 31, 2024