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托尔工业（THO）与WINNEBAGO INDUSTRIES INC（WGO）财务数据对比。点击上方公司名可切换其他公司
托尔工业的季度营收约是WINNEBAGO INDUSTRIES INC的3.4倍（$2.4B vs $702.7M）。托尔工业净利率更高（0.9% vs 0.8%，领先0.1%）。WINNEBAGO INDUSTRIES INC同比增速更快（12.3% vs 11.5%）。WINNEBAGO INDUSTRIES INC自由现金流更多（$19.8M vs $-74.8M）。过去两年托尔工业的营收复合增速更高（4.0% vs -4.0%）
托尔工业是美国知名休闲房车（RV）生产商，旗下拥有Airstream、Heartland RV、Jayco等多个子品牌，主营拖挂式及自行式休闲房车的生产销售，总部位于印第安纳州埃尔克哈特，在密歇根、俄亥俄、爱达荷、俄勒冈等多个州设有生产基地。
温尼贝戈工业是美国知名的房车制造商，主营 recreational vehicle（ recreational vehicle 即休闲旅居车）生产制造，2018年收购克里斯-克拉夫特公司后进军摩托艇制造领域，企业也曾产出中轻型多用途车等相关产品，公司名称源自其原总部所在地爱荷华州的温纳贝戈县。
THO vs WGO — 直观对比
营收规模更大
THO
是对方的3.4倍
$702.7M
营收增速更快
WGO
高出0.8%
11.5%
净利率更高
THO
高出0.1%
0.8%
自由现金流更多
WGO
多$94.6M
$-74.8M
两年增速更快
THO
近两年复合增速
-4.0%
损益表 — Q1 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $702.7M |
| 净利润 | $21.7M | $5.5M |
| 毛利率 | 13.4% | 12.7% |
| 营业利润率 | 1.4% | 2.0% |
| 净利率 | 0.9% | 0.8% |
| 营收同比 | 11.5% | 12.3% |
| 净利润同比 | 1282.8% | 205.8% |
| 每股收益（稀释后） | $0.41 | $0.19 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收THOWGO
| Q4 25 | $2.4B | $702.7M | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.9B | $775.1M | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.1B | $625.6M | ||
| Q3 24 | $2.5B | $720.9M | ||
| Q2 24 | $2.8B | $786.0M | ||
| Q1 24 | $2.2B | $703.6M |
净利润THOWGO
| Q4 25 | $21.7M | $5.5M | ||
| Q3 25 | $125.8M | — | ||
| Q2 25 | $135.2M | $17.6M | ||
| Q1 25 | $-551.0K | — | ||
| Q4 24 | $-1.8M | $-5.2M | ||
| Q3 24 | $90.0M | $-29.1M | ||
| Q2 24 | $114.5M | $29.0M | ||
| Q1 24 | $7.2M | $-12.7M |
毛利率THOWGO
| Q4 25 | 13.4% | 12.7% | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 15.3% | 13.7% | ||
| Q1 25 | 12.1% | — | ||
| Q4 24 | 13.1% | 12.3% | ||
| Q3 24 | 15.8% | 13.1% | ||
| Q2 24 | 15.1% | 15.0% | ||
| Q1 24 | 12.3% | 15.0% |
营业利润率THOWGO
| Q4 25 | 1.4% | 2.0% | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | 5.4% | 3.9% | ||
| Q1 25 | -0.1% | — | ||
| Q4 24 | -0.1% | -0.1% | ||
| Q3 24 | 5.0% | -2.5% | ||
| Q2 24 | 5.1% | 5.5% | ||
| Q1 24 | 0.3% | 5.0% |
净利率THOWGO
| Q4 25 | 0.9% | 0.8% | ||
| Q3 25 | 5.0% | — | ||
| Q2 25 | 4.7% | 2.3% | ||
| Q1 25 | -0.0% | — | ||
| Q4 24 | -0.1% | -0.8% | ||
| Q3 24 | 3.6% | -4.0% | ||
| Q2 24 | 4.1% | 3.7% | ||
| Q1 24 | 0.3% | -1.8% |
每股收益（稀释后）THOWGO
| Q4 25 | $0.41 | $0.19 | ||
| Q3 25 | $2.35 | — | ||
| Q2 25 | $2.53 | $0.62 | ||
| Q1 25 | $-0.01 | — | ||
| Q4 24 | $-0.03 | $-0.18 | ||
| Q3 24 | $1.69 | $-0.87 | ||
| Q2 24 | $2.13 | $0.96 | ||
| Q1 24 | $0.13 | $-0.43 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $509.9M | $181.7M |
| 总债务越低越好 | $916.0M | $541.0M |
| 股东权益账面价值 | $4.3B | $1.2B |
| 总资产 | $7.0B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.21× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资THOWGO
| Q4 25 | $509.9M | $181.7M | ||
| Q3 25 | $586.6M | — | ||
| Q2 25 | $508.3M | $10.5M | ||
| Q1 25 | $373.8M | — | ||
| Q4 24 | $445.2M | $262.5M | ||
| Q3 24 | $501.3M | $330.9M | ||
| Q2 24 | $371.8M | $318.1M | ||
| Q1 24 | $340.2M | $265.7M |
总债务THOWGO
| Q4 25 | $916.0M | $541.0M | ||
| Q3 25 | $923.0M | — | ||
| Q2 25 | $1.0B | $539.9M | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.1B | $637.7M | ||
| Q3 24 | $1.1B | $637.1M | ||
| Q2 24 | $1.2B | $636.4M | ||
| Q1 24 | $1.4B | $694.8M |
股东权益THOWGO
| Q4 25 | $4.3B | $1.2B | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.2B | $1.2B | ||
| Q1 25 | $4.0B | — | ||
| Q4 24 | $4.1B | $1.2B | ||
| Q3 24 | $4.1B | $1.3B | ||
| Q2 24 | $4.0B | $1.3B | ||
| Q1 24 | $3.9B | $1.3B |
总资产THOWGO
| Q4 25 | $7.0B | $2.1B | ||
| Q3 25 | $7.1B | — | ||
| Q2 25 | $7.2B | $2.1B | ||
| Q1 25 | $6.7B | — | ||
| Q4 24 | $6.9B | $2.3B | ||
| Q3 24 | $7.0B | $2.4B | ||
| Q2 24 | $7.2B | $2.4B | ||
| Q1 24 | $7.2B | $2.4B |
负债/权益比THOWGO
| Q4 25 | 0.21× | 0.44× | ||
| Q3 25 | 0.22× | — | ||
| Q2 25 | 0.24× | 0.44× | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 0.27× | 0.51× | ||
| Q3 24 | 0.28× | 0.50× | ||
| Q2 24 | 0.31× | 0.48× | ||
| Q1 24 | 0.36× | 0.52× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-44.9M | $25.4M |
| 自由现金流经营现金流 - 资本支出 | $-74.8M | $19.8M |
| 自由现金流率自由现金流/营收 | -3.1% | 2.8% |
| 资本支出强度资本支出/营收 | 1.3% | 0.8% |
| 现金转化率经营现金流/净利润 | -2.07× | 4.62× |
| 过去12个月自由现金流最近4个季度 | $375.1M | — |
8季度趋势，按日历期对齐
经营现金流THOWGO
| Q4 25 | $-44.9M | $25.4M | ||
| Q3 25 | $258.7M | — | ||
| Q2 25 | $257.7M | — | ||
| Q1 25 | $30.8M | — | ||
| Q4 24 | $30.7M | $-16.7M | ||
| Q3 24 | $338.0M | $40.7M | ||
| Q2 24 | $251.7M | $99.4M | ||
| Q1 24 | $-103.9M | $25.2M |
自由现金流THOWGO
| Q4 25 | $-74.8M | $19.8M | ||
| Q3 25 | $221.6M | — | ||
| Q2 25 | $222.5M | — | ||
| Q1 25 | $5.8M | — | ||
| Q4 24 | $6.4M | $-26.7M | ||
| Q3 24 | $301.3M | $29.5M | ||
| Q2 24 | $225.4M | $88.4M | ||
| Q1 24 | $-140.2M | $14.2M |
自由现金流率THOWGO
| Q4 25 | -3.1% | 2.8% | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.3% | -4.3% | ||
| Q3 24 | 11.9% | 4.1% | ||
| Q2 24 | 8.0% | 11.2% | ||
| Q1 24 | -6.4% | 2.0% |
资本支出强度THOWGO
| Q4 25 | 1.3% | 0.8% | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.2% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.1% | 1.6% | ||
| Q3 24 | 1.4% | 1.6% | ||
| Q2 24 | 0.9% | 1.4% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率THOWGO
| Q4 25 | -2.07× | 4.62× | ||
| Q3 25 | 2.06× | — | ||
| Q2 25 | 1.91× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.76× | — | ||
| Q2 24 | 2.20× | 3.43× | ||
| Q1 24 | -14.39× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
WGO
| Travel Trailer | $139.2M | 20% |
| Class C And Other | $131.0M | 19% |
| Fifth Wheel | $116.0M | 17% |
| Class A | $97.4M | 14% |
| Marine Segment | $79.2M | 11% |
| Class B | $76.3M | 11% |
| Other | $56.4M | 8% |
