Winnebago is a cheaply valued RV maker with excellent cash conversion and 3 beats in the last 4 quarters, but revenue is shrinking, quality is below the minimum and the price is in a confirmed downtrend with little room to the analyst target.
Thesis pillars
- Quality Below Minimum↓Deteriorating
- Cheap Valuation Strong Cash↓Deteriorating
- Shrinking Revenue→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Oct 24, 2026, based on the 10-K filed Oct 21, 2026
Winnebago Industries, Inc. (WGO) Stock Analysis
Recovery setup · Inst Constrain edge
Consumer Cyclical · Recreational Vehicles
Sell if holding. Engine safety override at $28.63: Quality below floor (3.6 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.7/10. Specifically: High short interest: 13%; Below-average business quality; Below long-term trend.
Winnebago Industries manufactures towable and motorhome RVs, boats and lithium-ion batteries under the Winnebago, Grand Design, Newmar, Chris-Craft, Barletta and Lithionics brands. It reports Towable RV, Motorhome RV and Marine segments and sells almost entirely through... Read more
Sell if holding. Engine safety override at $28.63: Quality below floor (3.6 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.7/10. Specifically: High short interest: 13%; Below-average business quality; Below long-term trend. Chart setup: Death cross but MACD improving, RSI 66. Score 4.7/10, moderate confidence.
Passes 6/8 gates (positive momentum, clean insider activity, no SEC red flags, earnings proximity 49d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: speculative.
About Winnebago Industries, Inc.
About Winnebago Industries, Inc.
Winnebago Industries sells RVs, boats and lithium-ion batteries under the Winnebago, Grand Design, Newmar, Chris-Craft, Barletta and Lithionics brands, mainly through more than 750 physical independent dealer locations in the U.S. and Canada as of August 29, 2026. Foreign sales accounted for less than 10% of net revenues in each of the past three fiscal years. The company employed approximately 5,000 people, none covered by a collective bargaining agreement, and builds towable RVs in Indiana, motorhomes in Iowa and Indiana, and boats in Indiana and Florida.
Three reportable segments organize the business: Towable RV, Motorhome RV and Marine. Towable travel trailers and fifth wheels carry suggested retail prices of about $23,000 to $204,000, motorhomes range from about $134,000 to $1,893,000, and boats from about $33,000 to $893,000. Products are generally built to order for dealers, so production volumes follow incoming dealer orders and the company maintains limited finished goods backlog. No dealer organization accounted for more than 10% of net revenues in any of the past three fiscal years. Parts and service work adds revenue at facilities in Elkhart, Middlebury, Forest City and Nappanee. Most raw materials such as steel, aluminum, fiberglass and wood are available from numerous sources, but motorhome chassis come from a small group led by Mercedes-Benz, Stellantis, Freightliner, Ford and Spartan RV Chassis, generally without contractual commitments, and one supplier accounted for approximately 12% of consolidated raw material purchases in fiscal 2026. Marine products depend significantly on motors from Mercury Marine.
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Discretionary demand and dealer financing shape the outlook. The filing describes RV and marine purchases as consumer discretionary, so weak confidence, higher interest rates or fuel prices, including increases tied to Middle East conflicts, could reduce retail demand and prompt dealers to trim inventory. Most dealers finance inventory through floorplan lenders, and one financial flooring institution held approximately 33% of financed dealer inventory dollars, so a decision to limit dealer financing may affect results. The company also signs repurchase agreements with lenders, covering up to 18 months for RV units and 24 months for marine units after financing, which could create costs if dealers default. Tariffs on components sourced from China, Mexico and Canada have raised the cost of goods sold.
See also: Consumer Cyclical · Recreational Vehicles
From Winnebago Industries, Inc.'s most recent 10-K filing, extracted October 25, 2026.
Recent developments
updated 2026-10-29Recent Developments — Winnebago Industries, Inc.
Latest news
- NEWS White Gold Corp. Reports Additional 2026 Diamond Drill Results — fiscal.ai Oct 27, 2026 neutral
- NEWS Winnebago Industries Announces Board Nomination and Cooperation Agreement — fiscal.ai Oct 23, 2026 neutral
- NEWS Winnebago Industries Announces Intention to Nominate Jay L. Johnson to Board of Directors — fiscal.ai Oct 23, 2026 neutral
- NEWS White Gold Corp. Announces Completion of First Tranches of $10M W2 Critical Minerals Corp. Financing — fiscal.ai Oct 22, 2026 neutral
- NEWS Winnebago Analysts Cut Their Forecasts Following Q4 Earnings — benzinga Oct 22, 2026 negative
Generated 2026-10-29T11:53:52Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- LOWSupplierone supplier share of raw material purchases12%10-K Item 1A: 'In Fiscal 2026, one of our suppliers individually accounted for approximately 12% of our consolidated raw material purchases.'
- MEDIUMSupplierMercury Marine motors10-K Item 1A: 'Within our marine businesses, we purchase a significant portion of our motors from Mercury Marine'
- MEDIUMcounterpartyone financial flooring institution dealer financing10-K Item 1A: 'one financial flooring institution held approximately 33% of our total outstanding financed dealer inventory dollars'
- MEDIUMGeographicmanufacturing in northern Iowa and northern Indiana10-K Item 1A: 'We currently manufacture most of our products in northern Iowa and northern Indiana.'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
3 floor-breakers
Revenue shrinking — -17.0% YoY. Growth thesis broken unless recovery story develops.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Quality below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $28.63: Quality below floor (3.6 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.7/10. Specifically: High short interest: 13%; Below-average business quality; Below long-term trend. Chart setup: Death cross but MACD improving, RSI 66. Prior stop was $26.63. Score 4.7/10, moderate confidence.
Analyst target: $30.94 (+8.1% upside). Prior stop was $26.63. Stop-loss: $26.63.
Quality below floor (3.6 < 4.0).
Winnebago Industries, Inc. trades at a P/E of 23.7 (forward 11.6). TrendMatrix value score: 8.0/10. Verdict: Sell.
19 analysts cover WGO with a consensus score of 3.5/5. Average price target: $36.
What does Winnebago Industries, Inc. do?Winnebago Industries manufactures towable and motorhome RVs, boats and lithium-ion batteries under the Winnebago, Grand...
Winnebago Industries manufactures towable and motorhome RVs, boats and lithium-ion batteries under the Winnebago, Grand Design, Newmar, Chris-Craft, Barletta and Lithionics brands. It reports Towable RV, Motorhome RV and Marine segments and sells almost entirely through independent dealers, with over 750 physical dealer locations in the U.S. and Canada and foreign sales under 10% of net revenues. Production is mostly made to order in Indiana, Iowa and Florida.