AllAnalyst Report
logoMorningstarOctober 22, 2020

Winnebago Industries, Inc.: Winnebago Finishes Fiscal 2020 With Great Quarter; RV Demand Should Remain High in Fiscal 2021

Symbols
WGO
Sector(s)
Consumer Cyclical
Rating
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Current Price
$58.49
Fair Value
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Economic Moat
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Stewardship
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Summary

Winnebago Industries manufactures Class A, B, and C motor homes along with towables, customized specialty vehicles, and parts and services. With headquarters in Eden Prairie, Minnesota, Winnebago has been producing recreational vehicles since 1958. Revenue was about $2 billion in fiscal 2019. Class A motor homes account for 21% of motorized unit sales, Class B about 37%, and Class C holds the rest. Winnebago expanded into towables in 2011 with the acquisition of SunnyBrook and acquired Grand Design in November 2016. Towables made up 83% of unit volume, up from 31% in fiscal 2016. The company's total RV unit volume was 44,420 in fiscal 2019. Winnebago expanded into boating in 2018 with the purchase of Chris-Craft and bought premium motorhome maker Newmar in November 2019.

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