THR · Thermon Group Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $108.90M | $147.31M | $131.72M | $115.13M | $134.35M | $114.65M | $106.89M | $136.43M | $123.66M | $95.44M |
| Cost of Revenue | $60.85M | $78.66M | $70.65M | $64.69M | $72.23M | $63.74M | $59.58M | $79.02M | $69.20M | $58.22M |
| Gross Profit | $48.05M | $68.65M | $61.08M | $50.43M | $62.12M | $50.91M | $47.31M | $57.41M | $54.46M | $37.23M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $32.17M | $38.30M | $35.51M | $31.09M | $34.12M | $31.26M | $28.65M | $31.85M | $30.49M | $24.40M |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $5.56M | $5.62M | $5.57M | $5.56M | $2.16M | $2.17M | $4.44M | $2.15M | $2.14M | $4.89M |
| Operating Income | $11.73M | $26.65M | $21.58M | $13.73M | $27.69M | $15.20M | $15.41M | $21.45M | $21.68M | $11.21M |
| Interest Expense | $1.96M | $2.16M | $2.02M | $2.85M | $2.54M | $1.93M | $1.58M | $1.75M | $1.93M | $835.0K |
| Income Tax | $2.43M | $6.33M | $5.06M | $2.52M | $6.49M | $3.48M | $3.23M | $4.51M | $4.76M | $2.91M |
| Net Income | $8.58M | $18.29M | $14.95M | $8.51M | $18.54M | $9.49M | $10.94M | $15.84M | $14.73M | $6.56M |
| EPS - Basic | $0.26 | $0.56 | $0.45 | $0.25 | $0.55 | $0.28 | $0.33 | $0.47 | $0.44 | $0.20 |
| EPS - Diluted | $0.26 | $0.55 | $0.45 | $0.25 | $0.54 | $0.28 | $0.32 | $0.46 | $0.43 | $0.20 |
Balance Sheet
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $52.27M | $46.86M | $29.75M | $39.54M | $38.74M | $37.00M | $48.63M | $55.40M | $30.53M | $35.63M |
| Accounts Receivable | $125.41M | $111.88M | $102.13M | $109.83M | $114.59M | $93.50M | $107.32M | $120.62M | $101.56M | $97.63M |
| Inventory | $118.15M | $116.99M | $110.98M | $88.98M | $92.31M | $93.60M | $86.32M | $96.30M | $92.55M | $82.13M |
| Accounts Payable | $41.11M | $38.89M | $41.33M | $31.18M | $29.70M | $30.42M | $31.40M | $26.61M | $34.60M | $27.33M |
| Current Assets | $341.20M | $320.62M | $288.85M | $274.29M | $280.23M | $275.02M | $274.60M | $309.73M | $269.88M | $250.94M |
| Total Assets | $830.58M | $816.70M | $778.18M | $755.45M | $763.39M | $761.53M | $767.74M | $805.09M | $663.72M | $649.63M |
| Current Liabilities | $126.84M | $110.60M | $102.46M | $112.66M | $109.68M | $98.27M | $109.27M | $139.74M | $117.93M | $110.07M |
| Long-term Debt | $113.56M | $115.82M | $118.09M | $120.37M | $134.77M | $143.17M | $151.96M | - | - | $87.71M |
| Total Liabilities | $291.87M | $278.00M | $262.95M | $260.14M | $274.71M | $271.25M | $292.85M | $337.66M | $221.42M | $230.64M |
| Stockholders' Equity | $538.71M | $538.70M | $515.23M | $495.31M | $488.69M | $490.29M | $474.89M | $467.43M | $442.31M | $418.99M |
| Retained Earnings | $386.87M | $384.12M | $365.83M | $342.30M | $325.33M | $306.79M | $288.78M | $278.70M | $262.86M | $237.19M |
Cash Flow
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $10.74M | - | - | $12.66M | - | - | $868.0K | - | - | $11.86M |
| Investing Cash Flow | ($2.35M) | - | - | ($3.90M) | - | - | ($2.79M) | - | - | ($36.89M) |
| Financing Cash Flow | ($12.64M) | - | - | ($8.00M) | - | - | ($1.85M) | - | - | $22.76M |
| CapEx | $2.42M | - | - | $3.92M | - | - | $2.80M | - | $2.81M | $1.62M |
| Free Cash Flow | $8.32M | - | - | $8.74M | - | - | ($1.93M) | - | - | $10.24M |
Ratios
| Metric | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 44.1% | 46.6% | 46.4% | 43.8% | 46.2% | 44.4% | 44.3% | 42.1% | 44.0% | 39.0% |
| Operating margin | 10.8% | 18.1% | 16.4% | 11.9% | 20.6% | 13.3% | 14.4% | 15.7% | 17.5% | 11.7% |
| EBITDA margin | 15.9% | 21.9% | 20.6% | 16.8% | 22.2% | 15.2% | 18.6% | 17.3% | 19.3% | 16.9% |
| Net margin | 7.9% | 12.4% | 11.4% | 7.4% | 13.8% | 8.3% | 10.2% | 11.6% | 11.9% | 6.9% |
| Free cash flow margin | 7.6% | - | - | 7.6% | - | - | -1.8% | - | - | 10.7% |
| FCF / Net income | 0.97 | - | - | 1.03 | - | - | -0.18 | - | - | 1.56 |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 29.5% | 26.0% | 27.0% | 27.0% | 25.4% | 27.3% | 26.8% | 23.3% | 24.7% | 25.6% |
| Effective tax rate | 22.0% | 25.7% | 25.3% | 22.8% | 25.9% | 26.8% | 22.8% | 22.2% | 24.4% | 30.7% |
| Return on assets | 1.0% | 2.2% | 1.9% | 1.1% | 2.4% | 1.2% | 1.4% | 2.0% | 2.2% | 1.0% |
| Return on equity | 1.6% | 3.4% | 2.9% | 1.7% | 3.8% | 1.9% | 2.3% | 3.4% | 3.3% | 1.6% |
| Return on invested capital | 1.4% | 3.0% | 2.5% | 1.7% | 3.3% | 1.8% | 1.9% | - | - | 1.5% |
| Liquidity | ||||||||||
| Current ratio | 2.69 | 2.90 | 2.82 | 2.43 | 2.56 | 2.80 | 2.51 | 2.22 | 2.29 | 2.28 |
| Quick ratio | 1.76 | 1.84 | 1.74 | 1.64 | 1.71 | 1.85 | 1.72 | 1.53 | 1.50 | 1.53 |
| Cash ratio | 0.41 | 0.42 | 0.29 | 0.35 | 0.35 | 0.38 | 0.45 | 0.40 | 0.26 | 0.32 |
| Leverage | ||||||||||
| Debt / Equity | 0.21 | 0.22 | 0.23 | 0.24 | 0.28 | 0.29 | 0.32 | - | - | 0.21 |
| Debt / Assets | 0.14 | 0.14 | 0.15 | 0.16 | 0.18 | 0.19 | 0.20 | - | - | 0.14 |
| Debt / EBITDA | 6.57 | 3.59 | 4.35 | 6.24 | 4.52 | 8.24 | 7.65 | - | - | 5.44 |
| Interest coverage | 6.0x | 12.3x | 10.7x | 4.8x | 10.9x | 7.9x | 9.7x | 12.2x | 11.3x | 13.4x |
| Equity multiplier | 1.54 | 1.52 | 1.51 | 1.53 | 1.56 | 1.55 | 1.62 | 1.72 | 1.50 | 1.55 |
| Liabilities / Assets | 0.35 | 0.34 | 0.34 | 0.34 | 0.36 | 0.36 | 0.38 | 0.42 | 0.33 | 0.36 |
| Efficiency | ||||||||||
| Asset turnover | 0.13 | 0.18 | 0.17 | 0.15 | 0.18 | 0.15 | 0.14 | 0.17 | 0.19 | 0.15 |
| Inventory turnover | 0.52 | 0.67 | 0.64 | 0.73 | 0.78 | 0.68 | 0.69 | 0.82 | 0.75 | 0.71 |
| Days sales outstanding | 420d | 277d | 283d | 348d | 311d | 298d | 366d | 323d | 300d | 373d |
| Days inventory outstanding | 709d | 543d | 573d | 502d | 466d | 536d | 529d | 445d | 488d | 515d |
| Days payable outstanding | 247d | 180d | 214d | 176d | 150d | 174d | 192d | 123d | 183d | 171d |
| Cash conversion cycle | 882d | 640d | 643d | 674d | 628d | 659d | 703d | 645d | 605d | 717d |
| Valuation | ||||||||||
| P / E | 193.8x | 67.6x | 59.4x | 111.4x | 53.3x | 106.6x | 102.3x | 70.8x | 63.9x | 124.6x |
| P / B | 3.1x | 2.3x | 1.7x | 1.9x | 2.0x | 2.1x | 2.3x | 2.4x | 2.1x | 2.0x |
| P / S | 15.4x | 8.4x | 6.7x | 8.2x | 7.3x | 8.9x | 10.4x | 8.2x | 7.6x | 8.8x |
| EV / EBITDA | 100.6x | 40.3x | 36.0x | 53.4x | 36.1x | 64.8x | 61.0x | 44.9x | 38.1x | 55.2x |
| Growth | ||||||||||
| Revenue growth (YoY) | -5.4% | 9.6% | 14.9% | 7.7% | -1.5% | -7.3% | 12.0% | 11.7% | 23.0% | 34.1% |
| Revenue CAGR (3y) | 4.5% | 6.5% | 9.4% | 17.4% | 10.1% | 12.1% | - | - | - | 18.9% |
| Revenue CAGR (5y) | - | - | - | 15.2% | 11.0% | 11.5% | 3.8% | 2.7% | 6.5% | 13.0% |
| Gross profit growth (YoY) | -4.7% | 10.5% | 20.0% | 6.6% | 8.2% | -6.5% | 27.1% | 13.8% | 18.6% | 32.1% |
| Operating income growth (YoY) | -14.6% | -3.7% | 41.9% | -10.9% | 29.1% | -29.9% | 37.5% | 52.5% | 35.2% | 143.0% |
| Net income growth (YoY) | 0.8% | -1.3% | 57.5% | -22.2% | 17.1% | -35.5% | 66.8% | 88.0% | 34.1% | 656.2% |
| EPS growth (YoY) | 4.0% | 1.9% | 60.7% | -21.9% | 17.4% | -34.9% | 60.0% | 84.0% | 30.3% | 566.7% |
| EPS CAGR (3y) | 9.1% | 30.1% | 10.9% | 102.7% | 17.8% | 203.7% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | 24.6% | 36.1% | 28.9% | 9.7% | 33.9% | 82.1% |
| FCF growth (YoY) | -4.8% | - | - | - | - | - | - | - | - | 538.6% |
| FCF CAGR (5y) | - | - | - | 45.5% | - | - | - | - | - | 22.6% |
| Book value growth (YoY) | 8.8% | 10.2% | 5.1% | 4.3% | 4.5% | 10.8% | 13.3% | 13.6% | 11.8% | 5.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-03-31.
Business segments
$536.26M totalUnited States Segment$263.29M · 49.1%
Canada Segment$163.84M · 30.6%
Europe Segment$71.56M · 13.3%
Asia Segment$37.58M · 7.0%
Geographic
$375.55M totalUnited States And Latin America$195.98M · 52.2%
CA$110.91M · 29.5%
Europe$47.69M · 12.7%
Asia$20.98M · 5.6%
Peer comparison
Same SIC group: Electrical Industrial Apparatus
Comparing Thermon Group Holdings against the 5 most active filers in the same SIC group.