WGO
Winnebago Industries, Inc.
WGO's fundamentals are mixed, but it looks expensive: trading at 26x earnings, above its usual 16x. Analysts expect strong earnings growth, though they disagree widely on how much.
WGO Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Healthy | |
| Healthy | |
| Stable |
WGO's profitability and cash flow are currently healthy, and its balance sheet is stable, but its revenue is under pressure.
WGO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6x | $7.31 | -76% |
| Fair | 15x | $18.48 | -40% |
| Forward | 16x | $31.04 | — |
| Expensive | 26x | $31.82 | +2.5% |
| Current | 26x | $31.04 | — |
Historical ranges are pointers, not guarantees.
WGO's PE is in its expensive range at 26x. If earnings grow as analysts expect, today's price would be 16x next year's earnings, in its fair range.
WGO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect WGO's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
WGO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.98 | +63% |
| Q3 2026 | $1.21 | +33% |
| Q2 2026 | $1.36 | +$1.81 |
| Q1 2026 | $1.47 | +$1.58 |
| Q4 2025 | $1.28 | +$1.80 |
| Q3 2025 | $0.91 | +107% |
| Q2 2025 | -$0.45 | -117% |
| Q1 2025 | -$0.11 | -103% |
| Q4 2024 | -$0.52 | -110% |
WGO's earnings per share have fallen from their peak: $1.21 over the past year, against $11.84 in mid-2022.
WGO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $645.1M | -17% |
| Q2 2026 | $698.7M | -9.9% |
| Q1 2026 | $657.4M | +6% |
| Q4 2025 | $702.7M | +12% |
| Q3 2025 | $777.3M | +7.8% |
| Q2 2025 | $775.1M | -1.4% |
| Q1 2025 | $620.2M | -12% |
| Q4 2024 | $625.6M | -18% |
WGO's revenue fell from its 2022 peak and has held roughly level since: $645M last quarter, down 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.7% | +0.1 points |
| Q2 2026 | 3.3% | -0.6 points |
| Q1 2026 | 1.8% | +0.5 points |
| Q4 2025 | 2% | +2.1 points |
| Q3 2025 | 2.6% | +5.1 points |
| Q2 2025 | 3.9% | -1.6 points |
| Q1 2025 | 1.3% | -3.8 points |
| Q4 2024 | -0.1% | -5.3 points |
WGO's operating margin was 2.7% last quarter, about level with the same quarter a year ago.
WGO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $135.2M | -21% |
| Q2 2026 | $18.7M | +$54.8M |
| Q1 2026 | -$29.1M | -$10.2M |
| Q4 2025 | $19.8M | +$46.5M |
| Q3 2025 | $171.2M | +480% |
| Q2 2025 | -$36.1M | -141% |
| Q1 2025 | -$18.9M | -233% |
| Q4 2024 | -$26.7M | +$6.5M |
WGO still generates free cash flow, though less than at its 2022 peak: $145M over the past year.
WGO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.4% | +100K shares |
| 3 years | -20% | -7M shares |
| 5 years | -17% | -5.7M shares |
| Available history | -12% | -3.9M shares |
WGO has 28M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $1.7M |
| Q3 2025 | $100,000 |
| Q2 2025 | — |
| Q1 2025 | $20M |
| Q4 2024 | $33.6M |
WGO spent $2M buying back its own shares over the past year, down 97% from the year before.
WGO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.1x | Moderate |
| Q2 2026 | 3.0x | Moderate |
| Q1 2026 | 2.9x | Moderate |
| Q4 2025 | 2.7x | Moderate |
| Q3 2025 | 3.1x | Elevated |
| Q2 2025 | 6.5x | High |
| Q1 2025 | 5.2x | High |
| Q4 2024 | 3.6x | Elevated |
WGO's net debt is about 2.1 years of its operating earnings (EBITDA), down from 3.1 years a year ago.
WGO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.5 | Neutral |
| Stochastic | 72.5 | Neutral |
WGO's weekly RSI is 53 (neutral) and its Stochastic is 72 (neutral).
WGO PE vs Consumer Cyclical Sector
| Metric | WGO | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 18x | 42% above |
| PE % | 82 | 47 | 35 pts above |
WGO is trading at 26x earnings, a 42% premium to the Consumer Cyclical sector's median of 18x.
WGO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $27.8 | 12% above |
| 20 week MA | $29.3 | 5.8% above |
| 50 week MA | $33.8 | 8.2% below |
| 100 week MA | $35.1 | 12% below |
| 200 week MA | $48.6 | 36% below |
WGO has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 36% below its 200-week average.
WGO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $53.2 | $65.3 | +23% |
| 2021 | $65.3 | $71.2 | +8.9% |
| 2022 | $71.2 | $53.3 | -25% |
| 2023 | $53.3 | $72.9 | +37% |
| 2024 | $72.9 | $46.9 | -36% |
| 2025 | $46.9 | $41.9 | -11% |
| 2026 YTD | $41.9 | $31.0 | -26% |
WGO has finished lower in three of the last six years. It's down 26% so far in 2026.