Production cost& control       

• Gross Margin:22% (component supplier) 15% (manufacturers) 29% (dealers) 
• Gross Margin (before depreciation):16% (manufacturer)
• Depreciation/sales: 1% (manufacturer)
• Depreciation/ CAPEX: 0.7 (manufacturer)

Margins       

• Operating Margin:9% (component supplier) 9% (manufacturers) 8% (dealers)
• EBITDA / Sales: 12% (component supplier) 10% (manufacturers) 8% (dealers)
• Free Cash Flow before working capital / Sales: 5%(manufacturers)
• EBI/Sales:6% (component supplier) 6% (manufacturers) 5% (dealers
  
• EBI / Asset: 14%(manufacturers)

Marketing & general management expenses

•  Advertising / Sales:
•  SG&A / Sales:13% (component supplier) 6% (manufacturers) 21% (dealers)
  
•  R&D / Sales:

Financing &liquidity

•  Debt / Asset:  15%(manufacturers)
•  Interest / EBITDA: 5%(manufacturers)

 

 

Growth

                                                                                        2016                   2017                  2018 (annualized)

• Growth in RV shipment of industry:                          11%                   17%                   15%

• Growth in RV retail units:                                             10%                    12%                   11%

• Growth in same store RV sales:                                 12%                     17%                   2%

• Growth in towable trailer shipment of industry:     11%                   17%                   15%

• Growth in towable trailer retail units:                         10%                    12%                   11%

• Growth in motorized trailer shipment of industry: 16%                   14%                   13%

• Growth in motorized trailer retail units:                    11%                    15%                   9%

• AVG Increase in cash flow per share:                        45%                    36%                   76%

• AVG Increase in EBI per share:                                   22%                   72%                   71%

A philosophy behind our work is that, when selling the same products and services to the same type of customers, companies should always have opportunities to gain the same performance in terms of finance and operating. It should be relatively easier and less risky for a below-average company to improve its profitability by copying its peers’ winning strategies or management method with existing products and services than jumping into a segment where it has to face a market with new products and services. It is because copying a peer does not always need to invest considerable capital and resources and it does not need to face uncertainties in a new market as well. For most of times, it may only involve some of minor alternations of company’s management and operation such as an optimization of production or a reallocation of resource. It is certainly true that it is impossible for every company to improve its performance by taking our relatively analytical method without significant capital input. However, there is nothing to lose to make a pre-estimate for your company with our data.