LCI Industries

LCII

Auto - Recreational Vehicles · Consumer Cyclical

Price

$101.98

-3.46 (-3.28%)

Market Cap

$2.48B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Strong

Cash Flow

Strong

Stability

Strong

Valuation

Good

Dividends

Good

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Share count falling — buybacks

−2.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 25.4M (2021) → 24.9M (2025)

Winston Score History

The full picture

LCI Industries makes the parts that go inside recreational vehicles (RVs) — things like furniture, windows, doors, axles, and hitches. Its main customers are RV manufacturers, and it also sells parts to the marine, manufactured housing, and transportation industries. It is one of the largest suppliers of RV components in North America.

The company earns money by selling these parts directly to manufacturers and through aftermarket channels to repair shops and dealers. LCI operates mostly in the United States, with some international presence, and generates roughly $3–4 billion in annual revenue. Its competitive edge comes from deep relationships with major RV makers and the sheer breadth of parts it supplies, making it hard for customers to switch suppliers easily. The biggest risk is that RV sales are highly sensitive to consumer confidence and interest rates, so a slowdown in discretionary spending can quickly reduce demand for LCI's products.

Politician Trades

6 trades / 12mo

3 Congressional buys and 3 sells on LCII in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-12.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+20.5% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

3.1%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

$217M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

LCI Industries's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

31.1%

Modest — 31.1% gross margin

Profit after running costs

Operating Margin

9.9%

Modest — 9.9% operating margin

Return on the money invested

ROCE

13.2%

Good — 13.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+4.1%

Slow sales growth (+4.1% YoY)

Profit growth

EPS YoY

+44.8%

Earnings growing fast (+44.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

178%

Turns 178% of profit into real cash

Spare cash per sale

FCF Margin

7.6%

Modest free cash flow (7.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.60

Conservative — low debt load (0.60)

Covers its interest

Interest Cover

8.33x

Comfortably covers interest (8.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

11.7x

Attractive valuation — P/E 11.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-0.1

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

4.44%

Healthy income — 4.44% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+2.2%

Dividend flat

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