Investment Thesis
Thor Industries (THO) was a great compounder of wealth from the depth of the last recession until January 2018. The stock returned an incredible 35% per year excluding dividends in those 9 years. Shareholders also enjoyed a 20% CAGR dividend growth during that time, with dividend going from $0.28 to $1.48 and more than quadrupling income investors' yield on their initial investment. After the recent 70% drop in the share price, the largest global RV maker currently offers a 3.4% dividend yield and trades well below its average historical valuations.