LCII · NYSE · Consumer Cyclical
LCI Industries (LCII) — Rank #217 by gross profitability (GP/assets 0.30) · ROE 13.1% · Piotroski F-Score 8 / 9.
As-of 2026-10-30 · CIK 0000763744 · all metrics point-in-time as of the filing date.
About
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.
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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 and awnings; 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. LCI Industries was formerly known as Drew Industries Incorporated and changed its name to LCI Industries in December 2016.
The company was founded in 1956 and is headquartered in Elkhart, Indiana.
- Industry
- Recreational Vehicles
- Sector
- Consumer Cyclical
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- corporate.lippert.com
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
12,300
Industry
Recreational Vehicles
Exchange
NYSE
12/12
Flags passed
LCII passes 12/12 quality flags
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Revenue growth accelerating · Operating leverage expanding · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passFCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Does it make money well?
No warning flags · GP/assets 0.30
Gross profitability (GP / assets)
0.30
Primary signal (Novy-Marx).
1st of 11 SIC 3714 peers
Return on equity
13.1%
Gross margin
23.8%
4th of 11 SIC 3714 peers
Revenue growth (YoY)
10.2%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
-7.5%
Revenue CAGR (5Y)
8.1%
Earnings CAGR (3Y)
-21.9%
FCF CAGR (3Y)
-16.1%
Cash Flow Health
Is the cash real?
No warning flags · FCF 48% above net income
Free cash flow
$278.33M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
47.9%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.6%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net debt $636.08M, F-Score 8/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.28
6th of 10 SIC 3714 peers (best = lowest)
Current ratio
2.49×
5th of 11 SIC 3714 peers
Quick ratio
1.00×
Net cash
-$636.08M
Cash & equivalents minus total debt.
Piotroski F-Score
8 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Dividend safety
Composite score
3.2 / 5
Capital allocation quality
Composite score
3.3 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports