What does LCI Industries do?

LCI Industries makes the parts that go into recreational vehicles, such as chassis, axles, slide-out rooms, windows, doors, furniture, awnings and appliances. It sells these parts to companies that build RVs, and also to builders of boats, trailers, buses, trucks, trains and manufactured homes. It also sells replacement parts and accessories to dealers, service centers and consumers.

What is LCI Industries's fair value?

On an owner-earnings DCF, LCI Industries's most-likely fair value is about $195, versus a recent price near $78. A margin-of-safety estimate, not a price target. Analysis, not advice.

Consumer Cyclical · Recreational Vehicles · LCII

What LCI Industries Does & How It Makes Money (LCII)

Updated October 2026 · reflects LCI Industries's latest reported financials

Maker of engineered components for RVs, boats, trailers and housing. It earns most of its revenue selling components in volume to RV makers and manufacturers in adjacent industries (OEM segment).

LCI Industries's story, moat and numbers — in a 3-minute visual book.

Explore LCI Industries on TacticScale →

How LCI Industries makes money

It earns most of its revenue selling components in volume to RV makers and manufacturers in adjacent industries (OEM segment). It also sells replacement parts and accessories through dealers, distributors, service centers, insurance claim fulfillment and online direct-to-consumer channels (Aftermarket segment).

What LCI Industries does

LCI Industries, founded in 1956 and headquartered in Elkhart, Indiana, is a major supplier of engineered components to the recreational vehicle industry. It was known as Drew Industries until 2016. Its OEM segment makes a broad range of parts for RV manufacturers, including chassis, axles, braking and suspension systems, leveling systems, slide-outs, windows, doors, furniture, appliances and electronics. It also serves adjacent markets such as boats, buses, cargo and utility trailers, trucks, trains, manufactured homes and modular housing. The Aftermarket segment sells replacement and upgrade components through retail dealers, wholesale distributors, service centers and online direct-to-consumer platforms. It also supplies replacement glass and awnings for insurance claims, plus marine and towing accessories. Because the company relies on RV and marine production, its results tend to move with consumer spending on outdoor recreation. The aftermarket business adds a steadier stream of revenue from repairs and upgrades.

Products & services

RV steel chassis, axles and suspension systems
Slide-out mechanisms and leveling systems
Awnings, windows and entry doors
RV furniture, mattresses and appliances
Towing products, hitches and truck accessories
Marine biminis, covers and fenders

What is LCI Industries worth?

On an owner-earnings DCF, LCI Industries's most-likely value is about $195 versus a recent price near $78 (148% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$114) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.

Verdict: Deeply discounted

Owner-earnings fair value · recent price ≈ $78

Fair value (most likely)

$195

Range

$147–$280

No-growth floor

$114

Price

~$78

On the financials alone, $78 is below even the no-growth floor ($114); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -5.0%/yr. A bargain only if that pessimism is overdone.

Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →

Sector Consumer Cyclical Industry Recreational Vehicles HQ United States Ticker LCII Official site

Related companies

LKQ (LKQ) · Patrick Industries (PATK) · Winnebago Industries (WGO) · Cavco Industries (CVCO) · LGI Homes (LGIH)

Understand LCI Industries in 3 minutes →