Winnebago Industries

WGO

Auto - Recreational Vehicles · Consumer Cyclical

Price

$31.78

-0.19 (-0.59%)

Market Cap

$898.4M

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Strong

Stability

Good

Valuation

Strong

Dividends

Good

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Share count falling — buybacks

−16.9% over 4y

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

Diluted shares outstanding: 34.1M (2021) → 28.3M (2025)

Winston Score History

The full picture

Winnebago Industries makes recreational vehicles (RVs) — motorhomes, travel trailers, and fifth-wheel campers — sold to everyday consumers who want to travel or live on the road. The company owns well-known brands including Winnebago, Grand Design, and Newmar, covering a wide range of price points from entry-level towable trailers to luxury motorcoaches. It also makes pontoon and fiberglass boats under the Chris-Craft and Barletta brands, giving it a broader footprint in outdoor recreation.

Winnebago earns money by manufacturing and selling these vehicles through a network of independent dealers across North America. The company is a top-three player in the U.S. RV market, which gives it some scale advantage, but the business is highly cyclical — demand drops sharply when interest rates rise or consumer confidence falls. With margins already thin and RV industry wholesale shipments still recovering from a post-pandemic correction, the key risk is whether consumer demand stabilizes before inventory and pricing pressure further squeeze profitability.

Politician Trades

3 trades / 12mo

1 Congressional buy and 2 sells on WGO 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

-9.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-17.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

3.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$85M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

Winnebago 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

13.6%

Thin — 13.6% gross margin

Profit after running costs

Operating Margin

3.3%

Thin — 3.3% operating margin

Return on the money invested

ROCE

4.1%

Weak — 4.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+3.4%

Slow sales growth (+3.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

539%

Turns 539% of profit into real cash

Spare cash per sale

FCF Margin

6.4%

Modest free cash flow (6.4%)

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

0.36

Conservative — low debt load (0.36)

Covers its interest

Interest Cover

3.00x

Tight — interest eats into profit (3.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

23.4x

Growth-priced — P/E 23.4

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+6.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (23.4 → 17.3)

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Dividends

Dividend

Dividend Yield

4.47%

Healthy income — 4.47% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+2.9%

Dividend flat

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