LCI INDUSTRIES

Listed Company

LCIICIK 0000763744NYSELarge AcceleratedMotor Vehicle Parts & AccessoriesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$4.12B

Net Income

$188.25M

Total Assets

$3.18B

Equity

$1.36B

Shares Out

24.20M

Op. Cash Flow

$330.98M

Business

LCI INDUSTRIES is a global supplier of engineered components to the outdoor recreation, transportation, and building products industries through its Lippert Components operations. It offers chassis and suspension systems, awnings and slide-out mechanisms, windows, doors and steps, interior and appliance solutions, towing and truck accessories, electronics, and aftermarket accessories and replacement parts. The company operates two reportable segments: OEM, serving vehicle and housing manufacturers, and Aftermarket, providing discretionary accessories, parts, and upgrades. It distributes products across North America and Europe via OEM channels, retail dealers, wholesale distributors, service centers, and direct-to-consumer online.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	4,122	3,741	3,785	5,207	4,473
Cost of sales	3,142	2,861	3,009	3,934	3,430
Gross profit	980	880	776	1,273	1,043
Warehouse and transportation	205	196	199	—	—
Selling, general and administrative expenses	495	465	453	720	645
Operating profit	280	218	123	553	398
Interest expense, net	36	29	40	28	16
Loss on extinguishment of debt	9	0	0	—	—
Gain on sale of real estate	−20	0	0	—	—
Income before income taxes	255	189	83	525	382
Provision for income taxes	67	46	19	130	94
Net income	188	143	64	395	288
Basic (in usd per share)	7.59	5.61	2.54	15.57	11.39
Diluted (in usd per share)	7.57	5.6	2.52	15.48	11.32
Basic (in shares)	25	25	25	25	25
Diluted (in shares)	25	26	25	26	25

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	223	166	66	48	63
Accounts receivable, net of allowances of $6,828 and $5,439 at December 31, 2025 and 2024, respectively	243	200	215	214	320
Inventories, net	809	737	768	1,030	1,096
Prepaid expenses and other current assets	75	58	68	99	88
Total current assets	1,350	1,160	1,117	1,391	1,567
Fixed assets, net	428	433	466	482	426
Goodwill (tax deductible)	622	586	590	567	543
Other intangible assets, net	403	392	449	503	520
Operating lease right-of-use assets	273	224	245	247	165
Other long-term assets	101	100	93	57	67
Total assets	3,176	2,895	2,959	3,247	3,288
Current maturities of long-term indebtedness	4	423,000	589,000	23	71
Accounts payable, trade	202	188	184	144	282
Current portion of operating lease obligations	44	39	36	35	31
Accrued expenses and other current liabilities	223	185	174	219	243
Total current liabilities	473	412	395	421	627
Long-term indebtedness	942	757	847	1,096	1,232
Operating lease obligations	246	200	223	222	143
Deferred taxes	27	26	32	31	43
Other long-term liabilities	127	113	107	96	149
Total liabilities	1,815	1,508	1,604	1,866	2,195
Common stock, par value $.01 per share	289,000	288,000	287,000	285,000	284,000
Paid-in capital	255	257	246	235	220
Retained earnings	1,280	1,208	1,177	1,221	931
Accumulated other comprehensive (loss) income	38	3	14	7	−501,000
Stockholders equity before treasury stock	1,573	1,469	1,437	1,463	1,151
Treasury stock, at cost	−212	−82	−82	−82	−58
Total stockholders equity	1,361	1,387	1,355	1,381	1,093
Total liabilities and stockholders equity	3,176	2,895	2,959	3,247	3,288

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	121	126	132	129	112
Stock-based compensation expense	23	19	18	24	27
Deferred taxes	16	−7	2	−9	−3
Other non-cash items	18	7	8	3	7
Accounts receivable, net	−26	13	2	116	−59
Inventories, net	−35	46	235	117	−517
Prepaid expenses and other assets	−12	5	26	15	−13
Accounts payable, trade	4	3	39	−161	69
Accrued expenses and other liabilities	44	15	2	−27	−23
Net cash flows provided by operating activities	331	370	527	603	−112
Capital expenditures	−53	−42	−62	−131	−99
Acquisitions of businesses	−113	−20	−26	−108	−194
Proceeds from sale of real estate	23	0	0	—	—
Other investing activities	−4	1	4	−3	11
Net cash flows used in investing activities	−147	−61	−84	−242	−281
Vesting of stock-based awards, net of shares tendered for payment of taxes	−5	−9	−10	−11	−8
Proceeds from revolving credit facility	0	86	249	1,128	1,303
Repayments under revolving credit facility	−19	−139	−465	−1,234	−1,281
Proceeds from term loan borrowings	391	0	0	0	124
Repayments under term loan and other borrowings	−284	−37	−61	−73	−21
Proceeds from issuance of convertible notes	449	0	0	0	460
Repurchase of convertible notes	−369	0	0	—	—
Purchases of convertible note hedge contracts	−68	0	0	0	−100
Proceeds from issuance of warrants concurrent with note hedge contracts	28	0	0	0	48
Payment of dividends	−114	−109	−106	−103	−87
Payment of contingent consideration and holdbacks related to acquisitions	−893,000	−2,000	−32	−60	−23
Repurchases of common stock	−129	0	0	−24	0
Other financing activities	−4	−430,000	−1	1	2
Net cash flows used in financing activities	−125	−208	−426	−375	405
Effect of exchange rate changes on cash and cash equivalents	−2	−1	1	−1	−697,000
Net increase in cash and cash equivalents	57	100	19	−15	11
Interest	36	32	40	25	15
US Federal	33	42	3	—	—
Total cash paid for income taxes	40	46	8	170	94
Contribution of net assets for investment in unconsolidated joint venture	0	0	34	0	0
Purchase of property and equipment in accrued expenses	572,000	293,000	531,000	2	4

Filings

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