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LCII 
LCI Industries (LCII)
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Upturn Advisory Summary
11/05/2025: LCII (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
9 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $115.11
1 Year Target Price $115.11
| 2 | Strong Buy |
| 1 | Buy |
| 5 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -28.42% | Avg. Invested days 36 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 11/05/2025 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 2.67B USD | Price to earnings Ratio 15.45 | 1Y Target Price 115.11 |
Price to earnings Ratio 15.45 | 1Y Target Price 115.11 | ||
Volume (30-day avg) 9 | Beta 1.33 | 52 Weeks Range 70.60 - 123.69 | Updated Date 11/6/2025 |
52 Weeks Range 70.60 - 123.69 | Updated Date 11/6/2025 | ||
Dividends yield (FY) 4.31% | Basic EPS (TTM) 7.15 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-11-04 | When Before Market | Estimate 1.44 | Actual 1.97 |
Profitability
Profit Margin 4.49% | Operating Margin (TTM) 7.28% |
Management Effectiveness
Return on Assets (TTM) 5.26% | Return on Equity (TTM) 12.89% |
Valuation
Trailing PE 15.45 | Forward PE 13 | Enterprise Value 3278529346 | Price to Sales(TTM) 0.67 |
Enterprise Value 3278529346 | Price to Sales(TTM) 0.67 | ||
Enterprise Value to Revenue 0.85 | Enterprise Value to EBITDA 9.32 | Shares Outstanding 24198010 | Shares Floating 23268080 |
Shares Outstanding 24198010 | Shares Floating 23268080 | ||
Percent Insiders 3.8 | Percent Institutions 113.01 |
Upturn AI SWOT
LCI Industries
Company Overview
History and Background
LCI Industries, formerly Drew Industries, was founded in 1969. It initially focused on manufacturing components for the manufactured housing industry. Over time, it expanded into the recreational vehicle (RV) industry and related aftermarket sectors through organic growth and acquisitions.
Core Business Areas
- RV OEM: Supplies a wide range of components to original equipment manufacturers (OEMs) in the RV industry, including chassis, axles, suspension, windows, doors, furniture, and appliances.
- Adjacent Industries OEM: Provides components to the marine, transportation, and building products industries, expanding beyond the RV market.
- Aftermarket: Sells replacement parts and accessories to RV dealers, service centers, and consumers through retail channels.
Leadership and Structure
LCI Industries is led by Jason Lippert (CEO). The organizational structure is hierarchical, with various business units reporting to the corporate headquarters.
Top Products and Market Share
Key Offerings
- Chassis and Suspension Systems: LCI Industries is a major supplier of chassis and suspension systems for RVs. Estimated market share in North America is around 40-50%. Competitors include Dexter Axle and AL-KO Vehicle Technology.
- Estimated Revenue: Estimated between 40 and 60% of LCI's RV OEM segment revenue, depending on the year.
- Estimated Revenue: Estimated to be a significant portion of the RV OEM segment revenue (20-30%), but more difficult to pinpoint exact numbers due to product bundling.
- Windows and Doors: LCI Industries manufactures windows and doors for RVs and other applications. Market share is significant, likely in the 30-40% range. Competitors include Kinro and Hehr International.
- Estimated Revenue: Represents a variable portion of revenue, dependent on the segment demand each period.
- Furniture and Appliances: LCI Industries supplies furniture and appliances for RVs. This is a more fragmented market. Market share likely in the 15-25% range. Competitors include Dometic and Norcold.
Market Dynamics
Industry Overview
The RV industry is cyclical, influenced by consumer confidence, economic conditions, and fuel prices. The industry has seen growth in recent years, driven by changing demographics and lifestyle preferences. However, it remains sensitive to economic downturns.
Positioning
LCI Industries is a leading supplier in the RV components market, known for its wide range of products and strong relationships with OEMs. Its size and scale provide a competitive advantage. Also, LCI tries to create a moat for it's business by the sheer number of products and services that it offers. Thus making it more difficult for competitors to compete for the top RV manufacturers business.
Total Addressable Market (TAM)
The total addressable market is estimated to be around $20 billion. LCI Industries holds a significant portion of this market, with opportunities for further expansion in related industries.
Upturn SWOT Analysis
Strengths
- Dominant market share in RV components
- Diversified product portfolio
- Strong relationships with RV OEMs
- Extensive distribution network
- Acquisition strategy
Weaknesses
- Dependence on the cyclical RV industry
- Exposure to commodity price fluctuations
- Potential for warranty claims
- Integration risks from acquisitions
Opportunities
- Expansion into adjacent industries (marine, transportation)
- Growth in the aftermarket sector
- Increased demand for RVs among younger generations
- International expansion
Threats
- Economic downturns affecting RV sales
- Increased competition from low-cost manufacturers
- Changes in consumer preferences
- Supply chain disruptions
- Rising interest rates
Competitors and Market Share
Key Competitors
- THO
- WGO
- PATK
Competitive Landscape
LCI Industries has a competitive advantage due to its size, scale, and broad product portfolio. It also has strong relationships with RV OEMs, which are top customers for the company. The challenge is to maintain its market share and adapt to changing consumer preferences.
Major Acquisitions
Lavanture Products
- Year: 2021
- Acquisition Price (USD millions): 92
- Strategic Rationale: Expansion into the marine industry, diversifying beyond RVs.
ASA Electronics
- Year: 2020
- Acquisition Price (USD millions): 67
- Strategic Rationale: Expand LCI's electronics and technology offerings.
Growth Trajectory and Initiatives
Historical Growth: LCI Industries has experienced significant growth over the past decade, fueled by acquisitions and organic expansion. The company has successfully diversified its product portfolio and entered new markets.
Future Projections: Analysts project moderate growth for LCI Industries in the coming years, driven by the long-term trends in the RV industry and expansion into adjacent markets. Revenue growth is estimated at 5-10% annually.
Recent Initiatives: Recent initiatives include acquisitions of companies in the marine and transportation industries, expansion of the aftermarket business, and investments in new product development.
Summary
LCI Industries is a strong player in the RV components market, with a dominant market share and diversified product portfolio. The company has experienced significant growth in recent years, driven by acquisitions and organic expansion. However, the company is exposed to the cyclical RV industry and needs to manage its dependence on this market. LCI Industries has growth opportunities in adjacent industries and aftermarket sectors, but it must also address the threats of increased competition and economic downturns.
Similar Stocks
Sources and Disclaimers
Data Sources:
- LCI Industries Investor Relations
- SEC Filings (10-K, 10-Q)
- Industry Reports (RV Industry Association)
- Analyst Reports
Disclaimers:
The information provided is for informational purposes only and should not be considered investment advice. Market data is as of the last update. Financial data is based on past performance and is not indicative of future results. Actual results may vary.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About LCI Industries
Exchange NYSE | Headquaters Elkhart, IN, United States | ||
IPO Launch date 1989-05-03 | CEO, President & Director Mr. Jason D. Lippert | ||
Sector Consumer Cyclical | Industry Recreational Vehicles | Full time employees 11500 | Website https://corporate.lippert.com |
Full time employees 11500 | Website https://corporate.lippert.com | ||
LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures and distributes a range of engineered components, such as steel chassis, axles, anti-lock braking systems, and suspension systems; manual, electric, and hydraulic stabilizer and leveling systems; awnings, slide-out mechanisms, and accessories; vinyl, aluminum, and frameless windows; entry, luggage, patio, and ramp doors; electric and manual entry steps; thermoformed bath and kitchen products; furniture, mattresses, tankless water heaters, air conditioners, appliances, electronic components, televisions, and sound systems; windshields; and hitches, pin boxes, grill guards, towing electrical, and towing and truck accessories. This segment serves OEMs of RVs and adjacent industries, including boats, buses, cargo and utility trailers used to haul boats, livestock, equipment, and other cargo; trucks; trains; manufactured homes; and modular housing. The Aftermarket segment supplies engineered components to aftermarket channels of the recreation and transportation markets for retail dealers, wholesale distributors, and service centers, as well as direct-to-consumer sales through online platforms. This segment also sells replacement glass and awnings to fulfill insurance claims; and biminis, covers, buoys, fenders, towing products, truck accessories, appliances, air conditioners, televisions, sound systems, and tankless water heaters. The company was formerly known as Drew Industries Incorporated and changed its name to LCI Industries in December 2016. LCI Industries was founded in 1956 and is headquartered in Elkhart, Indiana.
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