| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 93 | 10.6x | 17.8x | Top tier | |
Growth | 39 | 4.1% | 7.1% | Bottom tier | |
Quality | 65 | 8.8% | 4.5% | Around median | |
Safety | 66 | 2.2x | 2.6x | Top tier | |
Capital Return | 79 | 5.05% | 2.12% | Top tier | |
Momentum | 22 | 2.2% | 2.9% | Bottom tier | |
Sentiment | 76 | 7 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
LCI Industries manufactures a broad range of high-quality engineered products and related services for the outdoor recreation, transportation, and housing markets. It generates revenue through its Original Equipment Manufacturers segment, which supplies recreational vehicle manufacturers and adjacent markets with components, and its Aftermarket segment, which benefits from repair, replacement, and upgrades through a network of dealers, factory service centers, and mobile service; more than $15 billion of replaceable LCI content entered the recreational vehicle market during the decade ended in 2026.
In Q2 of fiscal year 2026, adjusted net sales declined 4% to $1.1 billion, as Original Equipment Manufacturers sales fell 10% while Aftermarket sales grew 11%. Despite a 20% decline in wholesale production of towable recreational vehicles, adjusted operating profit increased 8% to $99 million, and its margin expanded 110 basis points to 9.3%; the Original Equipment Manufacturers segment margin was 7.5% versus 14% for the Aftermarket segment.
GAAP net income reached $67 million in Q2 of fiscal year 2026, up 16%, and diluted earnings per share increased to $2.75 from $2.29. Adjusted earnings before interest, taxes, depreciation, and amortization also rose 7% to $129 million, and its margin expanded to 12.2% from 11%, demonstrating that cost reductions and increased content per vehicle offset a significant portion of weak demand.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus on LCII is neutral, with an average price target of $123.83 and a target range of $114 to $137. The average target is approximately 22% below the 52-week high of $159.66, and even the highest target remains below that peak, balancing the impact of improved margins against a cautious view of weakness in the recreational vehicle market and reduced shipment and revenue forecasts; the provided data did not include a usable earnings multiple.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Adjusted net sales were $1.1 billion, down 4% year over year. Adjusted operating profit increased 8% to $99 million and its margin expanded to 9.3%, while adjusted earnings before interest, taxes, depreciation, and amortization increased to $129 million. GAAP net income was $67 million, and diluted earnings per share rose to $2.75 from $2.29.
Wholesale production of towable vehicles declined 20% in Q2 of fiscal year 2026, but the company's adjusted sales declined only 4%. Actions to reduce general and administrative expenses, improve indirect spending, source materials, and consolidate facilities delivered a 160-basis-point year-over-year improvement in margins. The company's content per towable vehicle also increased 11% to $5,831, helping offset lower volumes.
The segment's adjusted net sales grew 11% in Q2 of fiscal year 2026, and its adjusted operating margin reached 14%, up 30 basis points. The opportunity is based on more than $15 billion of replaceable LCI content that entered the recreational vehicle market during the previous decade and approximately 1.5 million vehicles entering repair cycles over several years. The company supports this business with more than 400 care and technical support employees, factory and mobile service centers, and additional distribution capacity.
Management expects adjusted revenue of between $3.9 billion and $4.1 billion in fiscal year 2026 and an adjusted operating margin of between 7.5% and 8%. The expected adjusted earnings per share range is $8.25 to $8.75, with capital expenditures of between $55 million and $65 million. The estimate for wholesale recreational vehicle industry shipments was also reduced to between 280 thousand and 300 thousand units from a previous range of 315 thousand to 330 thousand units.
Management estimated on August 5, 2026, that the five largest innovations generate an annual revenue run rate of approximately $270 million. It also expected approximately $140 million in additional annual revenue from new product placements during the 2027 model changeover. Examples mentioned include Furrion Chill AC, as well as windshields, powered shades, arches, and premium furniture in the marine market.
Management described the transaction on the August 5, 2026 call as a proposed merger subject to regulatory review, with integration planning being conducted within applicable legal safeguards. It confirmed that operations at LCI would continue as usual until the transaction closes and that Ryan Smith and Jamie Schnor would continue leading the two segments as group presidents. Management did not provide additional details on regulatory risks or the closing date during the call.
