Tesla vs Winnebago Industries
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The short version
- Tesla is the larger business, with $94.8B of revenue in fiscal 2025 against $2.7B for Winnebago Industries, about 35 times as much.
- Tesla kept more of each dollar of sales as operating profit (4.6% operating margin, against 2.5%).
- Tesla turned more of its sales into free cash flow (6.6% FCF margin, against 5.4%).
- Tesla earned a higher return on the capital invested in it (7.2%, against 3.3%).
| Latest fiscal year | TSLA · FY25 | WGO · FY26 |
|---|---|---|
| Size | ||
| Market cap | $1.32T | $814M |
| Revenue | $94.8B | $2.7B |
| Free cash flow | $6.2B | $145M |
| Net income | $3.8B | $34.5M |
| Growth | ||
| Revenue growth | −2.9% | −3.4% |
| 5-year growth | 24.6% | −5.7% |
| Share count change | 0.9% | 0.4% |
| Profitability | ||
| Gross margin | 18.0% | 13.0% |
| Operating margin | 4.6% | 2.5% |
| Net margin | 4.0% | 1.3% |
| FCF margin | 6.6% | 5.4% |
| Return on capital | 7.2% | 3.3% |
| Return on equity | 4.9% | 2.8% |
| Balance sheet | ||
| Net debt | −$37.3B | $268M |
| Net debt / EBITDA | −4.0x | 2.1x |
| Dividends and buybacks | $0.0M | $41.6M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 5 | 6 |
Revenue
FY17
TSLA $11.8B
WGO $1.5B
FY18
TSLA $21.5B
WGO $2.0B
FY19
TSLA $24.6B
WGO $2.0B
FY20
TSLA $31.5B
WGO $2.4B
FY21
TSLA $53.8B
WGO $3.6B
FY22
TSLA $81.5B
WGO $5.0B
FY23
TSLA $96.8B
WGO $3.5B
FY24
TSLA $97.7B
WGO $3.0B
FY25
TSLA $94.8B
WGO $2.8B
FY26
TSLA —
WGO $2.7B
TSLA
WGO
Operating margin
FY17
TSLA −13.9%
WGO 8.1%
FY18
TSLA −1.8%
WGO 8.0%
FY19
TSLA −0.3%
WGO 7.8%
FY20
TSLA 6.3%
WGO 4.8%
FY21
TSLA 12.1%
WGO 11.2%
FY22
TSLA 16.8%
WGO 11.8%
FY23
TSLA 9.2%
WGO 8.6%
FY24
TSLA 7.2%
WGO 3.4%
FY25
TSLA 4.6%
WGO 2.0%
FY26
TSLA —
WGO 2.5%
TSLA
WGO
Free cash flow
FY17
TSLA −$3.5B
WGO $83.1M
FY18
TSLA −$3.0M
WGO $54.7M
FY19
TSLA $1.1B
WGO $92.9M
FY20
TSLA $2.8B
WGO $238M
FY21
TSLA $5.0B
WGO $192M
FY22
TSLA $7.6B
WGO $313M
FY23
TSLA $4.4B
WGO $211M
FY24
TSLA $3.6B
WGO $98.9M
FY25
TSLA $6.2B
WGO $89.5M
FY26
TSLA —
WGO $145M
TSLA
WGO
Return on capital
FY17
TSLA −12.2%
WGO 19.0%
FY18
TSLA −2.4%
WGO 15.3%
FY19
TSLA −0.4%
WGO 14.9%
FY20
TSLA 11.1%
WGO 9.5%
FY21
TSLA 35.5%
WGO 28.3%
FY22
TSLA 56.4%
WGO 32.9%
FY23
TSLA 28.3%
WGO 14.6%
FY24
TSLA 14.0%
WGO 3.1%
FY25
TSLA 7.2%
WGO 3.1%
FY26
TSLA —
WGO 3.3%
TSLA
WGO
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.