LCI Industries (LCII) - Net Assets
Based on the latest financial reports, LCI Industries (LCII) has net assets worth $1.39 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($3.22 Billion) and total liabilities ($1.83 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible equity quality of LCI Industries to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.39 Billion |
| % of Total Assets | 43.12% |
| Annual Growth Rate | 10.46% |
| 5-Year Change | 24.52% |
| 10-Year Change | 147.3% |
| Growth Volatility | 31.36 |
LCI Industries - Net Assets Trend (1985–2025)
This chart illustrates how LCI Industries's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of LCI Industries to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for LCI Industries (1985–2025)
The table below shows the annual net assets of LCI Industries from 1985 to 2025. For live valuation and market cap data, see LCII market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.36 Billion | -1.88% |
| 2024-12-31 | $1.39 Billion | +2.35% |
| 2023-12-31 | $1.36 Billion | -1.88% |
| 2022-12-31 | $1.38 Billion | +26.36% |
| 2021-12-31 | $1.09 Billion | +20.32% |
| 2020-12-31 | $908.33 Million | +13.45% |
| 2019-12-31 | $800.67 Million | +13.37% |
| 2018-12-31 | $706.25 Million | +8.20% |
| 2017-12-31 | $652.75 Million | +18.62% |
| 2016-12-31 | $550.27 Million | +25.47% |
| 2015-12-31 | $438.57 Million | +11.06% |
| 2014-12-31 | $394.90 Million | +25.92% |
| 2013-12-31 | $313.61 Million | +10.33% |
| 2012-12-31 | $284.25 Million | +2.51% |
| 2011-12-31 | $277.30 Million | +13.90% |
| 2010-12-31 | $243.46 Million | -0.27% |
| 2009-12-31 | $244.12 Million | -5.70% |
| 2008-12-31 | $258.88 Million | +2.92% |
| 2007-12-31 | $251.54 Million | +22.77% |
| 2006-12-31 | $204.89 Million | +22.17% |
| 2005-12-31 | $167.71 Million | +37.42% |
| 2004-12-31 | $122.04 Million | +30.32% |
| 2003-12-31 | $93.65 Million | +33.59% |
| 2002-12-31 | $70.10 Million | -13.68% |
| 2001-12-31 | $81.21 Million | +12.54% |
| 2000-12-31 | $72.16 Million | -14.19% |
| 1999-12-31 | $84.10 Million | +22.24% |
| 1998-12-31 | $68.80 Million | +32.31% |
| 1997-12-31 | $52.00 Million | +49.43% |
| 1996-12-31 | $34.80 Million | +117.50% |
| 1995-12-31 | $16.00 Million | +97.53% |
| 1994-12-31 | $8.10 Million | -63.84% |
| 1993-12-31 | $22.40 Million | +41.77% |
| 1992-12-31 | $15.80 Million | +51.92% |
| 1991-12-31 | $10.40 Million | +19.54% |
| 1990-12-31 | $8.70 Million | -60.81% |
| 1989-12-31 | $22.20 Million | -6.33% |
| 1988-12-31 | $23.70 Million | +0.85% |
| 1987-12-31 | $23.50 Million | -1.26% |
| 1986-12-31 | $23.80 Million | -6.30% |
| 1985-12-31 | $25.40 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to LCI Industries's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 128405700000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.28 Billion | 94.03% |
| Common Stock | $289.00K | 0.02% |
| Other Comprehensive Income | $37.68 Million | 2.77% |
| Other Components | $43.20 Million | 3.17% |
| Total Equity | $1.36 Billion | 100.00% |
LCI Industries Competitors by Market Cap
The table below lists competitors of LCI Industries ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Anhui Heli Co Ltd
SHG:600761
|
$2.18 Billion |
|
BioCryst Pharmaceuticals Inc
NASDAQ:BCRX
|
$2.18 Billion |
|
Ströer SE & Co. KGaA
F:SAX
|
$2.18 Billion |
|
Genting Bhd
KLSE:3182
|
$2.18 Billion |
|
Treasury Wine Estates Limited
F:T7W
|
$2.18 Billion |
|
Remy Cointreau
PA:RCO
|
$2.18 Billion |
|
Henan Dayou Energy Co Ltd
SHG:600403
|
$2.18 Billion |
|
Arion banki hf
ST:ARION-SDB
|
$2.17 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in LCI Industries's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,386,886,000 to 1,360,833,000, a change of -26,053,000 (-1.9%).
- Net income of 188,250,000 contributed positively to equity growth.
- Dividend payments of 114,043,000 reduced retained earnings.
- Share repurchases of 128,571,000 reduced equity.
- Other comprehensive income increased equity by 34,450,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $188.25 Million | +13.83% |
| Dividends Paid | $114.04 Million | -8.38% |
| Share Repurchases | $128.57 Million | -9.45% |
| Other Comprehensive Income | $34.45 Million | +2.53% |
| Other Changes | $-6.14 Million | -0.45% |
| Total Change | $- | -1.88% |
Book Value vs Market Value Analysis
This analysis compares LCI Industries's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.64x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 56.52x to 1.64x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $1.59 | $89.73 | x |
| 1986-12-31 | $1.37 | $89.73 | x |
| 1987-12-31 | $1.18 | $89.73 | x |
| 1988-12-31 | $1.26 | $89.73 | x |
| 1989-12-31 | $1.20 | $89.73 | x |
| 1990-12-31 | $0.47 | $89.73 | x |
| 1991-12-31 | $0.58 | $89.73 | x |
| 1992-12-31 | $0.84 | $89.73 | x |
| 1993-12-31 | $1.14 | $89.73 | x |
| 1994-12-31 | $0.45 | $89.73 | x |
| 1995-12-31 | $0.81 | $89.73 | x |
| 1996-12-31 | $1.50 | $89.73 | x |
| 1997-12-31 | $2.58 | $89.73 | x |
| 1998-12-31 | $3.03 | $89.73 | x |
| 1999-12-31 | $3.69 | $89.73 | x |
| 2000-12-31 | $3.50 | $89.73 | x |
| 2001-12-31 | $4.18 | $89.73 | x |
| 2002-12-31 | $3.51 | $89.73 | x |
| 2003-12-31 | $4.53 | $89.73 | x |
| 2004-12-31 | $5.74 | $89.73 | x |
| 2005-12-31 | $7.79 | $89.73 | x |
| 2006-12-31 | $9.38 | $89.73 | x |
| 2007-12-31 | $11.39 | $89.73 | x |
| 2008-12-31 | $11.81 | $89.73 | x |
| 2009-12-31 | $11.19 | $89.73 | x |
| 2010-12-31 | $10.93 | $89.73 | x |
| 2011-12-31 | $12.36 | $89.73 | x |
| 2012-12-31 | $12.45 | $89.73 | x |
| 2013-12-31 | $13.20 | $89.73 | x |
| 2014-12-31 | $16.23 | $89.73 | x |
| 2015-12-31 | $17.79 | $89.73 | x |
| 2016-12-31 | $22.07 | $89.73 | x |
| 2017-12-31 | $25.72 | $89.73 | x |
| 2018-12-31 | $27.74 | $89.73 | x |
| 2019-12-31 | $31.91 | $89.73 | x |
| 2020-12-31 | $35.97 | $89.73 | x |
| 2021-12-31 | $42.98 | $89.73 | x |
| 2022-12-31 | $54.13 | $89.73 | x |
| 2023-12-31 | $53.27 | $89.73 | x |
| 2024-12-31 | $54.37 | $89.73 | x |
| 2025-12-31 | $54.75 | $89.73 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently LCI Industries utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.83%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.57%
- • Asset Turnover: 1.30x
- • Equity Multiplier: 2.33x
- Recent ROE (13.83%) is above the historical average (11.51%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 3.15% | 1.50% | 0.97x | 2.16x | $-1.74 Million |
| 1986 | -5.46% | -1.79% | 1.51x | 2.02x | $-3.68 Million |
| 1987 | 6.38% | 1.70% | 1.36x | 2.74x | $-850.00K |
| 1988 | 7.59% | 1.82% | 1.65x | 2.52x | $-570.00K |
| 1989 | -5.86% | -1.06% | 1.81x | 3.06x | $-3.52 Million |
| 1990 | -154.02% | -14.53% | 1.99x | 5.33x | $-14.27 Million |
| 1991 | 16.35% | 1.84% | 2.31x | 3.86x | $660.00K |
| 1992 | 10.13% | 4.31% | 0.85x | 2.75x | $20.00K |
| 1993 | 25.00% | 4.28% | 2.42x | 2.41x | $3.36 Million |
| 1994 | 67.90% | 6.63% | 3.76x | 2.73x | $4.69 Million |
| 1995 | 48.75% | 7.79% | 3.55x | 1.76x | $6.20 Million |
| 1996 | 38.51% | 7.97% | 3.04x | 1.59x | $9.92 Million |
| 1997 | 23.08% | 5.76% | 1.60x | 2.51x | $6.80 Million |
| 1998 | 22.09% | 4.60% | 2.14x | 2.24x | $8.32 Million |
| 1999 | 20.45% | 5.30% | 2.08x | 1.85x | $8.79 Million |
| 2000 | 2.14% | 0.54% | 1.81x | 2.21x | $-5.67 Million |
| 2001 | 11.00% | 3.32% | 1.72x | 1.93x | $813.00K |
| 2002 | -20.82% | -4.49% | 2.24x | 2.07x | $-21.61 Million |
| 2003 | 20.74% | 5.50% | 2.21x | 1.71x | $10.06 Million |
| 2004 | 20.57% | 4.73% | 2.23x | 1.95x | $12.90 Million |
| 2005 | 20.04% | 5.02% | 2.18x | 1.83x | $16.83 Million |
| 2006 | 15.14% | 4.25% | 2.34x | 1.52x | $10.53 Million |
| 2007 | 15.81% | 5.95% | 1.93x | 1.37x | $14.61 Million |
| 2008 | 4.51% | 2.29% | 1.64x | 1.20x | $-14.21 Million |
| 2009 | -9.85% | -6.05% | 1.38x | 1.18x | $-48.46 Million |
| 2010 | 11.51% | 4.89% | 1.87x | 1.26x | $3.69 Million |
| 2011 | 10.84% | 4.41% | 1.94x | 1.27x | $2.33 Million |
| 2012 | 13.14% | 4.14% | 2.41x | 1.32x | $8.92 Million |
| 2013 | 15.98% | 4.94% | 2.24x | 1.45x | $18.76 Million |
| 2014 | 15.77% | 5.23% | 2.19x | 1.38x | $22.78 Million |
| 2015 | 16.95% | 5.30% | 2.25x | 1.42x | $30.49 Million |
| 2016 | 23.57% | 7.72% | 2.14x | 1.43x | $74.64 Million |
| 2017 | 20.36% | 6.19% | 2.27x | 1.45x | $67.61 Million |
| 2018 | 21.03% | 6.00% | 1.99x | 1.76x | $77.93 Million |
| 2019 | 18.30% | 6.18% | 1.27x | 2.33x | $66.44 Million |
| 2020 | 17.44% | 5.67% | 1.22x | 2.53x | $67.61 Million |
| 2021 | 26.33% | 6.43% | 1.36x | 3.01x | $178.45 Million |
| 2022 | 28.60% | 7.59% | 1.60x | 2.35x | $256.87 Million |
| 2023 | 4.74% | 1.70% | 1.28x | 2.18x | $-71.31 Million |
| 2024 | 10.30% | 3.82% | 1.29x | 2.09x | $4.18 Million |
| 2025 | 13.83% | 4.57% | 1.30x | 2.33x | $52.17 Million |
Industry Comparison
This section compares LCI Industries's net assets metrics with peer companies in the Recreational Vehicles industry.
Industry Context
- Industry: Recreational Vehicles
- Average net assets among peers: $239,835,506
- Average return on equity (ROE) among peers: 26.61%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| LCI Industries (LCII) | $1.39 Billion | 3.15% | 1.32x | $2.18 Billion |
| Brunswick Corporation (BC) | $824.00 Million | 8.60% | 1.30x | $5.25 Billion |
| BRP Inc. (DOO) | $-323.11 Million | 0.00% | 0.00x | $2.31 Billion |
| EZGO Technologies Ltd (EZGO) | $50.96 Million | -17.06% | 0.36x | $3.53 Million |
| Forza X1 Inc (FRZA) | $13.70 Million | -26.33% | 0.04x | $3.15 Million |
| Harley-Davidson Inc (HOG) | $826.70 Million | 21.06% | 0.93x | $2.67 Billion |
| Kandi Technologies Group Inc (KNDI) | $225.62 Million | -2.52% | 0.90x | $55.63 Million |
| Massimo Group Common Stock (MAMO) | $15.32 Million | 67.98% | 1.81x | $41.22 Million |
| Malibu Boats Inc (MBUU) | $513.57 Million | 21.39% | 0.66x | $501.34 Million |
| MCBC Holdings Inc (MCFT) | $11.76 Million | 166.40% | 6.08x | $368.25 Million |
About LCI Industries
LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures and distributes a range of engineered components, such as steel c… Read more