Lci Industries

Consumer Discretionary
Auto Parts:O.E.M.
www.lci1.com

Earnings Score
Moat Score
Safety Score

Market Cap $3.00B
PE 23
Debt $822.77M
Cash $161.18M
EV $3.66B
FCF $358.12M

Earnings

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Sales & Net Margins

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Earnings	$130.94M
EBIT	$204.72M
ROE	9%
ROA	7%
FCF	$358.12M
Equity	$1.42B
Growth Stability	23%
PE	22.92
PEG	-2.31
PB	2.12
P/FCF	8.38
P/S	0.79
Price/Cash	0.05
Debt/Equity	0.58
Debt/FCF	2.3
Net Margins	5%
Gross Margins	23%
Op. Margins	5%
Earnings CAGR	6%
Sales Growth YoY	-5%
Sales Growth QoQ	-13%
Sales CAGR	18%
FCF CAGR	16%
Equity CAGR	15%
Earnings Stability	0.08
Earnings Growth YoY	38%
Earnings Growth QoQ	-42%
Earnings CAGR 5Y	-10%

Sales CAGR 5Y	12%
FCF CAGR 5Y	23%
Equity CAGR 5Y	15%
Earnings CAGR 3Y	-13%
Sales CAGR 3Y	-13%
FCF CAGR 3Y	47%
Equity CAGR 3Y	5%
Market Cap	$3.00B
Revenue	$3.78B
Dividend Yield	4%
Payout Ratio	82%
Assets	$3.02B
Total Debt	$822.77M
Cash	$161.18M
Shares Outstanding	25.44M
EV	3.66B
Earnings Score	7%
Moat Score	82%
Safety Score	63%
Final Score	51%
Working Capital	812.9M
Current Ratio	2.88
Gross Profit	$871.36M
Shares Growth 3y	0%
Equity Growth QoQ	2%
Equity Growth YoY	3%

Assets & ROA

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Stockholders Equity & ROE

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LCI Industries Inc supplies domestically and internationally components for the original equipment manufacturers of recreational vehicles and adjacent industries including buses; trailers used to haul boats, livestock, equipment and other cargo. It has two reportable segments the original equipment manufacturers segment and the aftermarket segment. The OEM Segment manufactures or distributes components for the OEMs of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; pontoon boats; trains; manufactured homes; and modular housing. Its products are sold primarily to major manufacturers of RVs such as Thor Industries, Forest River, Winnebago and other RV OEMs, and to manufacturers in adjacent industries.

SEC Filings

Direct access to Lci Industries (LCII) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Lci Industries compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Lci Industries compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 6%

Stability 8%

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Lci Industries Discounted Cash Flow

Fully customizable DCF calculator online for Lci Industries.

Years

Calculation mode

= $11B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$358M	$416M	$483M	$560M	$650M	$755M	$876M	$1B	$1.2B	$1.4B	$1.6B	$16B
DCF		$378M	$399M	$421M	$444M	$469M	$495M	$522M	$551M	$581M	$613M	$6.1B
Value	$11B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	09/2016	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	5%	5%	-	8%	6%	6%	6%	6%	6%	8%	2%	5%
ROA	-	19%	-	26%	23%	16%	11%	10%	12%	17%	4%	7%
ROE	-	17%	-	24%	20%	21%	18%	17%	26%	29%	5%	9%

Bad Net Margins (4.54%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	09/2016	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	0.76	-	0.31	0.74	8.01	3.07	4.34	-6.54	2.42	1.82	2.3
Debt over Equity	0.04	0.11	-	0.09	0.08	0.42	0.81	0.83	1.26	0.83	0.63	0.58
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	100%	23%	23%

Neutral Debt/FCF ratio (2.3)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.58)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (23%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	09/2016	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	18%	-	-	28%	15%	-4%	18%	60%	16%	-27%	12%
Earnings YoY growth	-	19%	-	-	2%	12%	-1%	8%	82%	37%	-84%	-10%
Equity YoY growth	-	11%	-	-	19%	8%	13%	13%	20%	26%	-2%	15%
FCF YoY growth	-	2%	-	-	-57%	-46%	475%	-18%	-221%	-325%	-1%	23%