Rivian Automotive vs Winnebago Industries
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KIRAβs take AI analyst
I put Rivian Automotive and Winnebago Industries side by side, using each oneβs latest annual report. Here is what stands out:
- 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%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Rivian Automotive
RIVN
1/9
Revenue growth
Winnebago Industries
WGO
8/9
Gross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | RIVN FY25 | WGO FY26 |
|---|---|---|
| Size | ||
| Market cap | $15.1B | $798M |
| 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 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

