Rivian Automotive vs Winnebago Industries
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The short version
- Rivian Automotive is the larger business, with $5.4B of revenue in fiscal 2025 against $2.7B for Winnebago Industries, about 2.0 times as much.
- Rivian Automotive grew revenue faster (8.4%, against β3.4%).
- Winnebago Industries kept more of each dollar of sales as operating profit (2.5% operating margin, against β66.6%).
- Winnebago Industries turned more of its sales into free cash flow (5.4% FCF margin, against β46.2%).
- Winnebago Industries earned a higher return on the capital invested in it (3.3%, against β88.0%).
| Latest fiscal year | RIVN Β· FY25 | WGO Β· FY26 |
|---|---|---|
| Size | ||
| Market cap | $15.7B | $814M |
| Revenue | $5.4B | $2.7B |
| Free cash flow | β$2.5B | $145M |
| Net income | β$3.6B | $34.5M |
| Growth | ||
| Revenue growth | 8.4% | β3.4% |
| 5-year growth | β | β5.7% |
| Share count change | 17.1% | 0.4% |
| Profitability | ||
| Gross margin | 2.7% | 13.0% |
| Operating margin | β66.6% | 2.5% |
| Net margin | β67.7% | 1.3% |
| FCF margin | β46.2% | 5.4% |
| Return on capital | β88.0% | 3.3% |
| Return on equity | β65.4% | 2.8% |
| Balance sheet | ||
| Net debt | β$1.5B | $268M |
| Net debt / EBITDA | β | 2.1x |
| Dividends and buybacks | $0.0M | $41.6M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 4 | 6 |
Revenue
FY17
RIVN β
WGO $1.5B
FY18
RIVN β
WGO $2.0B
FY19
RIVN $0.0M
WGO $2.0B
FY20
RIVN $0.0M
WGO $2.4B
FY21
RIVN $55.0M
WGO $3.6B
FY22
RIVN $1.7B
WGO $5.0B
FY23
RIVN $4.4B
WGO $3.5B
FY24
RIVN $5.0B
WGO $3.0B
FY25
RIVN $5.4B
WGO $2.8B
FY26
RIVN β
WGO $2.7B
RIVN
WGO
Operating margin
FY17
RIVN β
WGO 8.1%
FY18
RIVN β
WGO 8.0%
FY19
RIVN β
WGO 7.8%
FY20
RIVN β
WGO 4.8%
FY21
RIVN β7,672.7%
WGO 11.2%
FY22
RIVN β413.5%
WGO 11.8%
FY23
RIVN β129.4%
WGO 8.6%
FY24
RIVN β94.4%
WGO 3.4%
FY25
RIVN β66.6%
WGO 2.0%
FY26
RIVN β
WGO 2.5%
RIVN
WGO
Free cash flow
FY17
RIVN β
WGO $83.1M
FY18
RIVN β
WGO $54.7M
FY19
RIVN β$552M
WGO $92.9M
FY20
RIVN β$1.8B
WGO $238M
FY21
RIVN β$4.4B
WGO $192M
FY22
RIVN β$6.4B
WGO $313M
FY23
RIVN β$5.9B
WGO $211M
FY24
RIVN β$2.9B
WGO $98.9M
FY25
RIVN β$2.5B
WGO $89.5M
FY26
RIVN β
WGO $145M
RIVN
WGO
Return on capital
FY17
RIVN β
WGO 19.0%
FY18
RIVN β
WGO 15.3%
FY19
RIVN β
WGO 14.9%
FY20
RIVN β
WGO 9.5%
FY21
RIVN β
WGO 28.3%
FY22
RIVN β178.5%
WGO 32.9%
FY23
RIVN β117.1%
WGO 14.6%
FY24
RIVN β96.6%
WGO 3.1%
FY25
RIVN β88.0%
WGO 3.1%
FY26
RIVN β
WGO 3.3%
RIVN
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.