Winnebago Industries
Maker of Winnebago, Grand Design, Newmar, Chris-Craft, and Barletta motorhomes, towable RVs, and boats.
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Profile
Designs and manufactures motorhomes, towable RVs, and recreational boats sold under the Winnebago, Grand Design, Newmar, Chris-Craft, and Barletta brands, distributed exclusively through independent dealers across the US and Canada. Revenue has declined for several consecutive years as dealers work through post-pandemic inventory, with the motorhome business affected most.
Builds recreational vehicles and boats under five consumer brands — Winnebago, Grand Design, Newmar, Chris-Craft, and Barletta — organized into three reportable lines: towable RVs, motorhomes, and marine. An internal unit, Lithionics, supplies lithium-ion batteries for electrified RVs.
Manufacturing is anchored in Forest City, Iowa, with additional plants across Indiana's RV corridor and in Sarasota, Florida for the marine brands. Products reach buyers exclusively through independent dealers across the US and Canada, so dealer ordering and inventory levels directly shape factory output.
Demand tracks discretionary household spending and dealer restocking cycles. A period of dealer destocking following the pandemic-era demand surge has weighed on revenue for several consecutive years, with the motorhome business affected most. Headquarters sit in Eden Prairie, Minnesota, while the company remains incorporated in Iowa, where it was founded in 1958.
Company facts
Categories
Key statistics
Year to date −25.0% · Average volume (30d) 470.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 27, 2026 | Seaport Global | Initiate | Neutral | |||
| Jul 8, 2026 | Truist Financial | Target | $43 | $35 | ||
| Jun 26, 2026 | BMO Capital | Reiterate | Outperform | $48 | $38 | |
| Jun 23, 2026 | Roth Capital | Reiterate | Neutral | $38 | $32 | |
| Jun 15, 2026 | Griffin | Target | $40 | $35 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 25, 2026Q3 FY26 | $0.82 | $0.66 | −19.5% | $755.7M | $698.7M | −7.5% | +1.52% |
| Mar 25, 2026Q2 FY26 | $0.25 | $0.27 | +8.0% | $627.2M | $657.4M | +4.8% | +0.55% |
| Dec 19, 2025Q1 FY26 | $0.13 | $0.38 | +186.8% | $629.9M | $702.7M | +11.6% | −2.97% |
| Oct 22, 2025Q4 FY25 | $0.53 | $0.71 | +33.2% | $727.8M | $777.3M | +6.8% | −3.08% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $620.2M | $775.1M | $777.3M | $702.7M | $657.4M | $698.7M | |
| Gross profit | $83.1M | $106.0M | $99.2M | $89.0M | $85.6M | $94.9M | |
| Operating income | $7.8M | $30.2M | $20.1M | $13.8M | $11.8M | $23.0M | |
| Net income | −$400.0K | $17.6M | $13.7M | $5.5M | $4.8M | $14.5M | |
| Diluted EPS | −$0.01 | $0.62 | $0.49 | $0.19 | $0.17 | $0.51 | |
| Gross margin | 13.4% | 13.7% | 12.8% | 12.7% | 13.0% | 13.6% | |
| Operating margin | 1.3% | 3.9% | 2.6% | 2.0% | 1.8% | 3.3% |
Fiscal years (4-quarter sums)FY21 $3.63B · FY22 $4.96B · FY23 $3.49B · FY24 $2.97B · FY25 $2.80B
Revenue by product · Q3 FY26
Revenue by geography · FY25
Balance sheet, May 30, 2026Cash & short-term investments $57.1M · Total debt $477.0M · Total assets $2.04B · Shareholders' equity $1.23B
Dividends
Raised for 11 straight years — most recently to $0.35 from $0.34 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 10, 2026 | Jun 10 | Jun 24 | $0.35 | |
| Apr 15, 2026 | Apr 15 | Apr 29 | $0.35 | |
| Jan 14, 2026 | Jan 14 | Jan 28 | $0.35 | |
| Sep 10, 2025 | Sep 10 | Sep 24 | $0.35 | raised from $0.34 |
| Jun 11, 2025 | Jun 11 | Jun 25 | $0.34 | |
| Apr 16, 2025 | Apr 16 | Apr 30 | $0.34 | |
| Jan 15, 2025 | Jan 15 | Jan 29 | $0.34 | |
| Sep 11, 2024 | Sep 11 | Sep 25 | $0.34 | raised from $0.31 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 28.27M · Float 27.23M · 96.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 4.87M | 17.23% | 13F | Aug 7, 2026 |
| Pzena Investment Management LLC | 1.71M | 6.00% | 13G | Jul 17, 2026 |
| Maple Rock Capital Partners Inc. | 1.56M | 5.50% | 13G | Aug 14, 2026 |
| Cooke & Bieler LP | 1.28M | 4.52% | 13F | Jul 30, 2026 |
| Vanguard Capital Management LLC | 1.20M | 4.23% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Bret A. Woodson | officer: SVP-CHRO | −1,235 | $31.73 |
| Aug 13, 2026 | Bret A. Woodson | officer: SVP-CHRO | −2,414 | $32.66 |
| Aug 13, 2026 | Michael J. Happe | director, officer: PRESIDENT & CEO | −12,045 | $32.68 |
| Oct 27, 2025 | Michael J. Happe | director, officer: PRESIDENT & CEO | −7,105 | $41.38 |
| Oct 24, 2025 | Sara E. Armbruster | director | +2,700 | $40.27 |
Peers
- Thor Industries
World's largest RV maker; broad towable and motorhome overlap
- Brunswick
Runs Sea Ray, Boston Whaler, and Harris pontoons, overlapping WGO Marine
- MasterCraft Boat
Five-brand powerboat maker after 2026 Marine Products (Chaparral/Robalo) merger
- Polaris
Powersports and pontoon-boat maker; Bennington competes directly with Barletta
- Malibu Boats
Sport boat and sterndrive cruiser maker via Cobalt, Pursuit, Saxdor
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Winnebago Industries | $30.60 | −0.13% | $865.0M | 22.5 | 13.9 | 0.3 | −9.9% |
| Thor Industries | $77.02 | 0.00% | $4.01B | 15.5 | 19.3 | 0.4 | −3.9% |
| Brunswick | $76.64 | −0.01% | $4.98B | — | 15.6 | 0.9 | +7.7% |
| MasterCraft Boat | $23.89 | +0.21% | $578.7M | 36.0 | 13.1 | 1.9 | +3.0% |
| Polaris | $63.78 | 0.00% | $3.63B | — | 22.0 | 0.5 | +9.2% |
| Malibu Boats | $27.36 | −0.04% | $537.3M | 371.2 | 11.4 | 0.6 | +42.7% |
| Median | 36.0 | 15.6 | 0.6 | +7.7% |