Thermon Group (THR) Financials

$27.08 +0.60 (+2.27%)

Closing price 03:59 PM Eastern

Extended Trading

$27.12 +0.04 (+0.13%)

As of 06:30 PM Eastern

Annual Income Statements for Thermon Group

This table shows Thermon Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020	3/31/2019	3/31/2018	3/31/2017	3/31/2016	3/31/2015	3/31/2014
Net Income / (Loss) Attributable to Common Shareholders	52	14	17	2.44	12	23	12	15	23	49	26
Consolidated Net Income / (Loss)	52	34	20	0.88	12	23	13	15	24	49	26
Net Income / (Loss) Continuing Operations	52	34	20	2.44	12	23	13	15	24	49	26
Total Pre-Tax Income	68	49	28	-0.64	17	33	18	19	32	63	33
Total Operating Income	75	55	38	7.41	33	49	33	22	37	67	59
Total Gross Profit	212	185	140	117	162	176	144	112	131	155	135
Total Revenue	495	441	356	276	383	413	309	264	282	309	277
Operating Revenue	495	441	356	276	383	413	309	264	282	309	277
Total Cost of Revenue	283	255	216	159	222	237	165	152	151	154	142
Operating Cost of Revenue	283	255	216	159	222	237	165	152	151	154	142
Total Operating Expenses	136	130	102	108	129	127	111	89	95	88	77
Selling, General & Admin Expense	124	117	93	90	112	107	95	78	81	77	65
Amortization Expense	10	9.45	8.79	9.45	18	21	16	12	12	11	11
Other Operating Expenses / (Income)	1.23	-0.21	0.28	0.00	-0.39	-	-	-	-	-	-
Restructuring Charge	0.98	3.69	-0.41	8.62	0.00	0.00	-	-	-	-	-
Total Other Income / (Expense), net	-7.70	-5.96	-9.98	-8.05	-16	-15	-14	-3.36	-4.40	-4.50	-26
Interest Expense	8.85	5.87	5.82	10	14	16	9.36	3.52	4.14	4.57	26
Other Income / (Expense), net	1.15	-0.09	-4.17	2.14	-1.56	0.11	-5.60	-0.41	-0.68	-0.39	-0.60
Income Tax Expense	16	16	8.33	-1.52	5.14	9.97	5.17	4.10	8.72	13	6.96
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-0.87	19	2.99	-	-	-	-	-	-	-	-
Basic Earnings per Share	$1.53	$1.01	$0.60	$0.03	$0.36	$0.70	$0.37	$0.45	$0.72	$1.54	$0.82
Weighted Average Basic Shares Outstanding	33.67M	33.47M	33.31M	33.13M	32.76M	32.57M	32.42M	32.30M	32.18M	32.03M	31.60M
Diluted Earnings per Share	$1.51	$1.00	$0.60	$0.03	$0.36	$0.69	$0.36	$0.45	$0.71	$1.52	$0.80
Weighted Average Diluted Shares Outstanding	34.07M	33.75M	33.51M	33.34M	33.15M	33.05M	32.80M	32.63M	32.59M	32.41M	32.15M
Weighted Average Basic & Diluted Shares Outstanding	33.77M	33.51M	33.37M	33.25M	32.96M	32.50M	32.20M	32.50M	32M	32.10M	31.93M

This table shows Thermon Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Net Income / (Loss) Attributable to Common Shareholders	19	9.49	8.51	11	16	15	11	-11	8.43	11	6.56
Consolidated Net Income / (Loss)	19	9.49	8.51	10	16	15	11	7.70	8.43	11	6.56
Net Income / (Loss) Continuing Operations	19	9.49	8.51	10	16	15	11	7.70	8.43	11	6.56
Total Pre-Tax Income	25	13	11	14	20	19	14	13	13	14	9.46
Total Operating Income	28	15	14	17	21	22	15	14	14	16	11
Total Gross Profit	62	51	50	52	57	54	47	52	50	46	37
Total Revenue	134	115	115	128	136	124	107	122	122	101	95
Operating Revenue	134	115	115	128	136	124	107	122	122	101	95
Total Cost of Revenue	72	64	65	75	79	69	60	71	72	55	58
Operating Cost of Revenue	72	64	65	75	79	69	60	71	72	55	58
Total Operating Expenses	34	36	37	36	36	33	32	38	36	30	26
Selling, General & Admin Expense	34	31	31	33	32	30	29	34	31	28	24
Amortization Expense	3.46	3.40	3.40	3.42	2.12	2.23	2.39	2.38	2.37	2.44	2.27
Other Operating Expenses / (Income)	-0.12	0.43	0.10	0.55	0.65	-0.25	0.27	0.29	0.46	-0.30	-0.66
Restructuring Charge	-3.03	0.61	2.11	-1.24	1.34	0.30	0.58	1.03	2.67	0.00	0.00
Total Other Income / (Expense), net	-2.66	-2.23	-2.70	-3.16	-1.10	-2.19	-1.24	-1.25	-1.22	-1.74	-1.75
Interest Expense	2.54	2.79	2.85	3.58	1.75	1.93	1.58	1.75	1.88	1.41	0.84
Other Income / (Expense), net	-0.13	0.56	0.14	0.42	0.65	-0.27	0.34	0.51	0.66	-0.34	-0.92
Income Tax Expense	6.49	3.48	2.52	3.58	4.51	4.76	3.23	4.93	4.42	3.31	2.91
Basic Earnings per Share	$0.55	$0.28	$0.25	$0.29	$0.47	$0.44	$0.33	$0.23	$0.25	$0.33	$0.20
Weighted Average Basic Shares Outstanding	33.71M	33.79M	33.76M	33.67M	33.70M	33.69M	33.57M	33.47M	33.49M	33.48M	33.40M
Diluted Earnings per Share	$0.54	$0.28	$0.25	$0.30	$0.46	$0.43	$0.32	$0.22	$0.25	$0.33	$0.20
Weighted Average Diluted Shares Outstanding	34.09M	34.14M	34.08M	34.07M	34.20M	34.13M	33.86M	33.75M	33.88M	33.77M	33.57M
Weighted Average Basic & Diluted Shares Outstanding	33.69M	33.69M	33.80M	33.77M	33.71M	33.70M	33.69M	33.51M	33.50M	33.49M	33.47M

This table details how cash moves in and out of Thermon Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020	3/31/2019	3/31/2018	3/31/2017	3/31/2016	3/31/2015	3/31/2014
Net Change in Cash & Equivalents	12	-5.41	1.48	-3.56	12	-2.49	-7.97	-42	-9.20	21	29
Net Cash From Operating Activities	66	58	29	30	71	23	23	26	48	52	15
Net Cash From Continuing Operating Activities	66	54	29	30	71	23	23	26	48	52	46
Net Income / (Loss) Continuing Operations	52	34	20	0.88	12	23	13	15	24	49	26
Consolidated Net Income / (Loss)	52	34	20	0.88	12	23	13	15	24	49	26
Depreciation Expense	19	19	20	21	28	30	24	18	17	14	14
Amortization Expense	0.49	0.32	0.60	1.53	1.89	1.93	2.53	0.39	0.73	0.46	4.57
Non-Cash Adjustments To Reconcile Net Income	4.87	10	2.37	9.02	14	-11	-0.63	6.00	5.11	-0.22	18
Changes in Operating Assets and Liabilities, net	-9.83	-9.74	-15	-1.86	14	-21	-17	-13	1.02	-12	-17
Net Cash From Investing Activities	-110	-45	-4.53	-7.83	-10	-10	-166	-52	-42	-9.97	-5.42
Net Cash From Continuing Investing Activities	-110	-45	-4.53	-7.83	-10	-10	-166	-52	-42	-9.97	-5.42
Purchase of Property, Plant & Equipment	-11	-9.78	-5.22	-8.13	-11	-12	-10	-8.37	-13	-6.08	-3.37
Acquisitions	-100	-35	0.00	0.00	-	-	-203	0.00	-31	-3.89	0.00
Sale of Property, Plant & Equipment	0.84	0.00	0.00	-	0.24	0.03	0.01	1.16	2.19	0.00	0.00
Divestitures	1.03	0.00	0.00	-	-	-	-	-	-	-	-
Other Investing Activities, net	0.10	0.20	0.69	0.30	0.60	0.98	0.94	-	-	-	-2.06
Net Cash From Financing Activities	57	-13	-23	-28	-47	-14	134	-15	-15	-12	-11
Net Cash From Continuing Financing Activities	57	-13	-23	-28	-47	-14	134	-15	-15	-12	-11
Repayment of Debt	-59	-47	-180	-28	-52	-40	-126	-14	-14	-14	-133
Repurchase of Common Equity	-0.25	0.00	0.00	-	-	-	-	-	-	-	-
Issuance of Debt	118	35	158	0.00	10	33	260	0.00	0.00	-	135
Other Financing Activities, net	-2.09	-0.79	-0.73	-0.43	-4.66	-6.07	-0.36	-1.16	-1.17	1.95	-12
Effect of Exchange Rate Changes	-1.06	-1.17	-0.08	2.19	-2.01	-	-	-	-0.55	-8.80	-1.32
Cash Interest Paid	9.18	5.77	5.70	8.74	12	14	7.35	3.09	3.37	4.06	10
Cash Income Taxes Paid	23	15	9.79	9.67	13	22	7.73	9.28	16	17	11

This table details how cash moves in and out of Thermon Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Net Change in Cash & Equivalents	-12	2.06	0.21	-6.84	24	-3.10	-2.49	-2.68	-3.78	2.29	-1.24
Net Cash From Operating Activities	9.84	8.56	13	37	24	3.39	0.87	26	19	0.67	12
Net Cash From Continuing Operating Activities	9.84	8.56	13	37	24	3.29	1.88	22	19	0.67	12
Net Income / (Loss) Continuing Operations	19	9.49	8.51	10	16	15	11	7.70	8.43	11	6.56
Consolidated Net Income / (Loss)	19	9.49	8.51	10	16	15	11	7.70	8.43	11	6.56
Depreciation Expense	5.62	5.57	5.56	5.76	4.27	4.36	4.44	4.67	4.71	4.96	4.90
Amortization Expense	0.12	0.12	0.13	0.25	0.06	0.09	0.09	0.09	0.08	0.08	0.08
Non-Cash Adjustments To Reconcile Net Income	1.47	1.51	1.07	0.74	1.41	1.51	1.22	5.46	-7.72	2.52	10
Changes in Operating Assets and Liabilities, net	-16	-8.14	-2.61	20	2.70	-17	-15	4.25	14	-18	-9.71
Net Cash From Investing Activities	-5.57	-1.85	-3.90	-1.24	-103	-2.79	-2.79	-4.25	-1.50	-1.92	-37
Net Cash From Continuing Investing Activities	-5.57	-1.85	-3.90	-1.24	-103	-2.79	-2.79	-4.57	-1.50	-1.92	-37
Purchase of Property, Plant & Equipment	-1.39	-1.86	-3.92	-3.13	-2.27	-2.81	-2.80	-4.60	-1.56	-2.00	-1.62
Other Investing Activities, net	0.03	0.02	0.02	0.02	0.04	0.02	0.01	0.03	0.06	0.04	0.06
Net Cash From Financing Activities	-14	-5.66	-8.00	-41	102	-2.74	-1.85	-20	-11	-4.82	23
Net Cash From Continuing Financing Activities	-14	-5.66	-8.00	-41	102	-2.74	-1.85	-20	-22	5.62	23
Repayment of Debt	-17	-3.38	-3.38	-41	-3.06	-7.62	-7.77	-20	-24	5.65	-8.65
Repurchase of Common Equity	-2.35	-2.26	-1.58	-	-	-	0.00	-	-	-	-
Issuance of Debt	5.00	-	0.00	-	105	5.00	8.00	-	2.50	-	32
Other Financing Activities, net	0.56	-0.02	-3.05	-0.06	0.19	-0.13	-2.09	-0.14	-0.03	-0.03	-0.58
Effect of Exchange Rate Changes	-2.22	1.00	-0.54	-1.11	0.63	-0.85	0.27	-0.41	-	-	1.03

This table presents Thermon Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020	3/31/2019	3/31/2018	3/31/2017	3/31/2016	3/31/2015	3/31/2014
Total Assets	768	650	637	618	621	656	662	454	469	450	442
Total Current Assets	275	251	244	207	218	240	220	198	199	207	176
Cash & Equivalents	49	36	41	40	43	31	34	43	85	94	73
Accounts Receivable	107	98	95	75	92	105	111	69	65	67	55
Inventories, net	86	82	72	64	60	65	64	34	41	41	37
Prepaid Expenses	14	16	12	8.78	9.22	7.32	9.05	5.81	8.23	5.13	5.06
Current Deferred & Refundable Income Taxes	1.63	3.14	4.63	8.23	2.54	4.39	1.89	2.03	0.21	0.00	5.36
Other Current Assets	17	16	20	11	10	26	-	-	-	-	-
Plant, Property, & Equipment, net	68	63	66	73	73	75	74	43	42	35	32
Total Noncurrent Assets	425	335	326	338	330	341	368	213	228	208	235
Goodwill	271	220	213	213	198	205	211	123	122	105	114
Intangible Assets	127	94	95	104	105	127	151	86	104	101	119
Noncurrent Deferred & Refundable Income Taxes	1.07	0.69	1.21	2.59	2.90	3.83	3.43	2.82	1.48	1.21	-
Other Noncurrent Operating Assets	26	21	17	19	25	5.61	2.37	1.12	1.38	0.52	1.79
Total Liabilities & Shareholders' Equity	768	650	637	618	621	656	662	454	469	450	442
Total Liabilities	293	231	237	239	274	307	322	142	170	178	192
Total Current Liabilities	109	110	81	53	61	73	62	52	58	53	44
Short-Term Debt	20	25	7.93	2.50	2.50	14	2.50	20	14	14	14
Accounts Payable	31	27	34	20	25	23	23	16	19	17	18
Accrued Expenses	32	39	27	24	24	28	23	13	18	17	9.87
Current Deferred & Payable Income Tax Liabilities	2.82	6.81	0.90	0.22	1.22	1.96	5.95	0.48	2.94	2.71	0.96
Other Current Liabilities	24	12	12	6.47	8.09	7.05	-	-	-	-	-
Total Noncurrent Liabilities	184	121	156	186	214	234	259	89	112	125	148
Long-Term Debt	152	88	120	143	169	198	215	60	80	93	108
Noncurrent Deferred & Payable Income Tax Liabilities	9.44	12	18	21	22	28	34	26	29	29	38
Other Noncurrent Operating Liabilities	22	21	18	22	23	7.66	10	3.37	3.18	3.07	2.39
Commitments & Contingencies	0.00	-	-	-	-	-	-	-	-	-	-
Total Equity & Noncontrolling Interests	475	419	399	379	346	349	341	313	299	272	250
Total Preferred & Common Equity	475	419	399	379	346	345	335	308	294	272	250
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	475	419	399	379	346	345	335	308	294	272	250
Common Stock	244	240	235	231	228	223	223	219	217	214	208
Retained Earnings	289	237	204	183	183	171	149	137	122	99	50
Treasury Stock	-0.25	0.00	-	-	-	-	-	-	-	-	-
Accumulated Other Comprehensive Income / (Loss)	-57	-58	-39	-36	-64	-49	-37	-48	-45	-41	-7.88

This table presents Thermon Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	12/31/2023	9/30/2023	6/30/2023	12/31/2022	9/30/2022	6/30/2022	12/31/2021
Total Assets	763	762	757	805	664	657	650	654	662	626
Total Current Assets	280	275	266	310	270	256	253	258	248	233
Cash & Equivalents	39	37	49	55	31	33	35	32	40	33
Accounts Receivable	115	94	99	121	102	92	92	101	94	89
Inventories, net	92	94	90	96	93	93	91	95	86	70
Prepaid Expenses	18	33	11	16	17	0.24	16	15	12	12
Current Deferred & Refundable Income Taxes	0.50	1.87	2.54	1.65	1.11	15	1.47	2.33	1.97	7.94
Other Current Assets	16	16	15	19	27	22	17	13	13	21
Plant, Property, & Equipment, net	71	67	69	68	65	65	61	62	65	66
Total Noncurrent Assets	412	419	421	427	329	337	336	335	350	327
Goodwill	264	270	269	269	219	222	221	218	226	211
Intangible Assets	118	121	123	133	88	93	96	97	103	96
Noncurrent Deferred & Refundable Income Taxes	2.22	1.76	1.36	1.07	0.70	0.68	0.78	0.82	1.19	1.08
Other Noncurrent Operating Assets	28	27	27	25	21	22	18	18	19	18
Total Liabilities & Shareholders' Equity	763	762	757	805	664	657	650	654	662	626
Total Liabilities	275	271	281	338	221	223	239	259	261	238
Total Current Liabilities	110	98	102	140	118	110	110	121	113	75
Short-Term Debt	18	22	21	48	38	33	35	38	38	7.00
Accounts Payable	30	30	31	27	35	28	30	41	38	35
Accrued Expenses	32	27	29	40	31	32	28	24	21	23
Current Deferred & Payable Income Tax Liabilities	5.38	1.81	3.15	5.45	4.37	5.28	3.57	1.86	1.12	0.42
Other Current Liabilities	24	17	19	19	11	12	13	16	15	9.90
Total Noncurrent Liabilities	165	173	179	198	103	113	129	138	148	163
Long-Term Debt	135	143	148	164	73	80	98	105	113	125
Noncurrent Deferred & Payable Income Tax Liabilities	9.58	8.73	8.95	11	10	11	13	15	17	19
Other Noncurrent Operating Liabilities	21	21	22	23	20	21	19	18	19	19
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	489	490	476	467	442	434	412	396	401	389
Total Preferred & Common Equity	489	490	476	467	442	434	412	396	401	389
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	489	490	476	467	442	434	412	396	401	389
Common Stock	245	243	242	242	241	239	238	236	235	234
Retained Earnings	325	307	297	279	263	248	229	221	210	195
Treasury Stock	-6.44	-4.09	-1.83	-	-	-	-	-	-	-
Accumulated Other Comprehensive Income / (Loss)	-75	-56	-61	-53	-61	-54	-56	-62	-44	-40

This table displays calculated financial ratios and metrics derived from Thermon Group's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020	3/31/2019	3/31/2018	3/31/2017	3/31/2016	3/31/2015	3/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.27%	23.87%	28.78%	-27.98%	-7.07%	33.71%	16.84%	-6.31%	-8.64%	11.27%	-2.36%
EBITDA Growth	28.39%	35.63%	73.15%	-48.11%	-23.90%	48.85%	34.36%	-25.76%	-33.28%	5.87%	4.00%
EBIT Growth	38.86%	60.93%	258.87%	-69.33%	-36.02%	79.12%	23.19%	-38.94%	-45.87%	14.90%	2.40%
NOPAT Growth	52.24%	39.02%	423.64%	-77.29%	-32.68%	44.10%	33.53%	-34.39%	-49.26%	14.69%	24.76%
Net Income Growth	53.23%	67.56%	2,190.99%	-92.65%	-48.48%	75.27%	-11.78%	-36.64%	-52.11%	91.43%	-4.36%
EPS Growth	51.00%	66.67%	1,900.00%	-91.67%	-47.83%	91.67%	-20.00%	-36.62%	-53.29%	90.00%	-5.88%
Operating Cash Flow Growth	14.28%	100.72%	-5.07%	-57.17%	204.50%	1.37%	-13.48%	-44.74%	-7.37%	241.59%	-63.39%
Free Cash Flow Firm Growth	-258.86%	11.00%	684.68%	-105.61%	176.29%	114.37%	-1,069.68%	414.12%	-94.23%	43.06%	0.79%
Invested Capital Growth	20.58%	1.99%	0.38%	2.00%	-10.25%	1.15%	71.27%	-0.78%	8.07%	-4.86%	-0.34%
Revenue Q/Q Growth	1.06%	4.73%	8.96%	-5.17%	-6.32%	2.90%	12.79%	-1.77%	-0.67%	2.25%	-1.49%
EBITDA Q/Q Growth	4.49%	2.48%	23.79%	-4.67%	-17.59%	-2.18%	33.05%	-0.79%	-11.52%	-0.78%	3.19%
EBIT Q/Q Growth	3.89%	3.77%	50.43%	1.00%	-29.38%	0.46%	45.55%	-2.23%	-18.19%	-0.83%	4.38%
NOPAT Q/Q Growth	7.44%	-3.40%	48.84%	-15.99%	-31.12%	-0.92%	33.11%	-0.17%	-19.49%	-0.33%	7.27%
Net Income Q/Q Growth	4.84%	-2.84%	94.01%	184.33%	-44.88%	0.67%	32.53%	-0.83%	-22.91%	1.90%	17.99%
EPS Q/Q Growth	5.59%	-4.76%	100.00%	200.00%	-45.45%	4.55%	28.57%	0.00%	-23.66%	1.33%	17.65%
Operating Cash Flow Q/Q Growth	20.58%	23.82%	0.69%	-10.52%	7.59%	9.13%	-10.16%	4.56%	-9.06%	308.39%	-70.76%
Free Cash Flow Firm Q/Q Growth	28.67%	49.93%	-0.89%	-121.90%	50.71%	-12.50%	1.91%	19.89%	-84.05%	21.22%	-11.79%
Invested Capital Q/Q Growth	-4.26%	-2.49%	-0.40%	-2.24%	-6.72%	0.39%	-0.31%	-1.20%	-0.11%	-4.80%	-0.79%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.77%	42.02%	39.40%	42.32%	42.15%	42.64%	46.60%	42.38%	46.58%	50.13%	48.74%
EBITDA Margin	19.38%	16.94%	15.48%	11.51%	15.98%	19.51%	17.53%	15.24%	19.23%	26.34%	27.68%
Operating Margin	15.24%	12.53%	10.80%	2.68%	8.52%	11.76%	10.61%	8.50%	13.04%	21.73%	21.14%
EBIT Margin	15.47%	12.51%	9.63%	3.45%	8.11%	11.78%	8.80%	8.34%	12.80%	21.60%	20.92%
Profit (Net Income) Margin	10.43%	7.64%	5.65%	0.32%	3.11%	5.61%	4.28%	5.67%	8.39%	16.00%	9.30%
Tax Burden Percent	76.23%	68.38%	70.68%	-136.18%	69.89%	69.91%	71.89%	78.52%	73.07%	78.94%	78.74%
Interest Burden Percent	88.44%	89.35%	83.02%	-6.75%	54.90%	68.17%	67.75%	86.60%	89.69%	93.84%	56.47%
Effective Tax Rate	23.77%	31.62%	29.32%	0.00%	30.11%	30.09%	28.11%	21.48%	26.93%	21.06%	21.26%
Return on Invested Capital (ROIC)	10.51%	7.69%	5.60%	1.08%	4.55%	6.45%	5.68%	5.75%	9.07%	18.13%	15.39%
ROIC Less NNEP Spread (ROIC-NNEP)	4.63%	2.71%	-1.74%	-2.60%	-2.52%	0.52%	-6.11%	-273.61%	-20.06%	6.65%	-17.67%
Return on Net Nonoperating Assets (RNNOA)	1.04%	0.54%	-0.43%	-0.84%	-1.12%	0.27%	-1.64%	-0.85%	-0.78%	0.79%	-4.57%
Return on Equity (ROE)	11.54%	8.23%	5.16%	0.24%	3.43%	6.72%	4.05%	4.90%	8.29%	18.91%	10.83%
Cash Return on Invested Capital (CROIC)	-8.16%	5.72%	5.21%	-0.90%	15.36%	5.30%	-46.87%	6.53%	1.31%	23.11%	15.73%
Operating Return on Assets (OROA)	10.80%	8.57%	5.46%	1.54%	4.87%	7.38%	4.86%	4.78%	7.86%	14.95%	13.22%
Return on Assets (ROA)	7.28%	5.23%	3.20%	0.14%	1.87%	3.52%	2.37%	3.25%	5.15%	11.07%	5.88%
Return on Common Equity (ROCE)	11.54%	8.23%	5.16%	0.24%	3.41%	6.62%	3.98%	4.83%	8.23%	18.91%	10.83%
Return on Equity Simple (ROE_SIMPLE)	10.86%	8.04%	5.03%	0.23%	3.45%	6.72%	3.95%	4.87%	8.03%	18.17%	10.30%
Net Operating Profit after Tax (NOPAT)	57	38	27	5.18	23	34	24	18	27	53	46
NOPAT Margin	11.62%	8.57%	7.63%	1.88%	5.95%	8.22%	7.63%	6.67%	9.53%	17.16%	16.64%
Net Nonoperating Expense Percent (NNEP)	5.87%	4.98%	7.34%	3.69%	7.06%	5.93%	11.79%	279.36%	29.13%	11.48%	33.06%
Cost of Revenue to Revenue	57.23%	57.98%	60.60%	57.68%	57.85%	57.36%	53.40%	57.62%	53.42%	49.87%	51.26%
SG&A Expenses to Revenue	25.03%	26.56%	26.16%	32.53%	29.10%	25.85%	30.66%	29.42%	28.63%	24.91%	23.61%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.53%	29.49%	28.60%	39.07%	33.63%	30.88%	35.99%	33.88%	33.54%	28.40%	27.60%
Earnings before Interest and Taxes (EBIT)	77	55	34	9.54	31	49	27	22	36	67	58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	96	75	55	32	61	81	54	40	54	81	77
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.32	1.99	1.35	1.71	1.43	2.32	2.17	2.19	1.92	2.84	2.95
Price to Tangible Book Value (P/TBV)	14.32	7.92	5.90	10.43	11.28	60.75	0.00	6.80	8.21	11.75	42.32
Price to Revenue (P/Rev)	2.23	1.90	1.52	2.34	1.29	1.94	2.36	2.55	2.01	2.50	2.66
Price to Earnings (P/E)	21.03	57.69	31.59	265.06	41.51	35.12	61.07	46.04	24.59	15.63	28.60
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.75%	1.73%	3.17%	0.38%	2.41%	2.85%	1.64%	2.17%	4.07%	6.40%	3.50%
Enterprise Value to Invested Capital (EV/IC)	2.05	1.84	1.29	1.55	1.31	1.86	1.75	2.20	1.88	2.76	2.63
Enterprise Value to Revenue (EV/Rev)	2.48	2.07	1.76	2.72	1.63	2.38	2.97	2.54	2.05	2.54	2.84
Enterprise Value to EBITDA (EV/EBITDA)	12.79	12.21	11.40	23.67	10.18	12.21	16.93	16.68	10.68	9.66	10.25
Enterprise Value to EBIT (EV/EBIT)	16.02	16.55	18.32	78.86	20.06	20.23	33.73	30.47	16.05	11.77	13.56
Enterprise Value to NOPAT (EV/NOPAT)	21.34	24.16	23.10	145.13	27.33	29.00	38.91	38.10	21.56	14.83	17.05
Enterprise Value to Operating Cash Flow (EV/OCF)	18.59	15.80	21.81	24.84	8.82	42.34	39.96	25.36	12.08	15.17	51.95
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	32.48	24.80	0.00	8.09	35.25	0.00	33.55	148.72	11.63	16.68
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.27	0.32	0.38	0.50	0.61	0.64	0.26	0.31	0.39	0.49
Long-Term Debt to Equity	0.32	0.21	0.30	0.38	0.49	0.57	0.63	0.19	0.27	0.34	0.43
Financial Leverage	0.22	0.20	0.25	0.32	0.44	0.53	0.27	0.00	0.04	0.12	0.26
Leverage Ratio	1.59	1.57	1.61	1.71	1.84	1.91	1.71	1.51	1.61	1.71	1.84
Compound Leverage Factor	1.40	1.40	1.34	-0.12	1.01	1.30	1.16	1.31	1.44	1.60	1.04
Debt to Total Capital	26.54%	21.16%	24.33%	27.75%	33.12%	37.73%	38.90%	20.48%	23.86%	28.21%	32.66%
Short-Term Debt to Total Capital	3.04%	4.65%	1.50%	0.48%	0.48%	2.45%	0.45%	5.15%	3.44%	3.57%	3.63%
Long-Term Debt to Total Capital	23.51%	16.50%	22.83%	27.27%	32.64%	35.28%	38.45%	15.33%	20.42%	24.64%	29.03%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.75%	1.06%	1.18%	1.09%	0.00%	0.00%
Common Equity to Total Capital	73.46%	78.84%	75.67%	72.25%	66.88%	61.52%	60.03%	78.35%	75.05%	71.79%	67.34%
Debt to EBITDA	1.79	1.51	2.33	4.58	2.80	2.63	4.01	2.00	1.73	1.31	1.58
Net Debt to EBITDA	1.28	1.03	1.58	3.32	2.09	2.24	3.37	-0.18	0.17	0.16	0.64
Long-Term Debt to EBITDA	1.59	1.17	2.19	4.50	2.76	2.46	3.97	1.50	1.48	1.15	1.41
Debt to NOPAT	2.99	2.98	4.73	28.07	7.51	6.24	9.22	4.57	3.49	2.02	2.63
Net Debt to NOPAT	2.14	2.03	3.20	20.33	5.62	5.31	7.74	-0.41	0.34	0.25	1.06
Long-Term Debt to NOPAT	2.64	2.32	4.44	27.59	7.41	5.83	9.12	3.42	2.98	1.76	2.34
Altman Z-Score	4.02	3.90	2.86	2.84	2.58	3.11	2.56	4.41	3.58	4.50	3.89
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.60%	1.47%	1.61%	1.46%	0.75%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.51	2.28	3.02	3.92	3.59	3.27	3.53	3.79	3.45	3.90	4.02
Quick Ratio	1.43	1.21	1.69	2.17	2.24	1.87	2.33	2.99	2.60	3.03	2.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-45	28	25	-4.33	77	28	-194	20	3.89	67	47
Operating Cash Flow to CapEx	648.14%	590.30%	550.84%	372.47%	666.41%	193.51%	229.24%	367.36%	461.30%	851.54%	449.78%
Free Cash Flow to Firm to Interest Expense	-5.04	4.78	4.35	-0.42	5.49	1.78	-20.74	5.69	0.94	14.78	1.85
Operating Cash Flow to Interest Expense	7.46	9.83	4.94	2.97	5.04	1.48	2.45	7.53	11.57	11.33	0.59
Operating Cash Flow Less CapEx to Interest Expense	6.31	8.17	4.05	2.18	4.29	0.71	1.38	5.48	9.06	10.00	0.46
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.70	0.69	0.57	0.45	0.60	0.63	0.55	0.57	0.61	0.69	0.63
Accounts Receivable Turnover	4.83	4.57	4.19	3.31	3.88	3.82	3.44	3.95	4.26	5.03	4.82
Inventory Turnover	3.36	3.32	3.18	2.57	3.54	3.68	3.37	4.08	3.69	3.93	3.96
Fixed Asset Turnover	7.52	6.81	5.13	3.80	5.20	5.52	5.24	6.22	7.38	9.30	8.84
Accounts Payable Turnover	9.64	8.39	8.09	7.11	9.29	10.36	8.52	8.66	8.23	8.85	6.89
Days Sales Outstanding (DSO)	75.62	79.92	87.13	110.34	94.13	95.46	105.98	92.40	85.63	72.57	75.74
Days Inventory Outstanding (DIO)	108.61	109.86	114.67	142.12	102.96	99.24	108.36	89.53	98.94	92.90	92.06
Days Payable Outstanding (DPO)	37.86	43.50	45.12	51.31	39.30	35.24	42.83	42.14	44.35	41.25	52.95
Cash Conversion Cycle (CCC)	146.36	146.27	156.68	201.15	157.80	159.47	171.51	139.79	140.22	124.22	114.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	598	496	486	484	475	529	523	305	308	285	299
Invested Capital Turnover	0.90	0.90	0.73	0.58	0.76	0.78	0.75	0.86	0.95	1.06	0.92
Increase / (Decrease) in Invested Capital	102	9.67	1.85	9.51	-54	6.02	218	-2.39	23	-15	-1.02
Enterprise Value (EV)	1,226	912	627	752	624	983	916	671	579	785	787
Market Capitalization	1,103	835	540	647	496	799	728	674	566	772	738
Book Value per Share	$14.09	$12.51	$11.97	$11.41	$10.53	$10.57	$10.32	$9.52	$9.14	$8.47	$7.87
Tangible Book Value per Share	$2.28	$3.15	$2.74	$1.87	$1.34	$0.40	($0.83)	$3.07	$2.14	$2.05	$0.55
Total Capital	646	531	528	524	518	560	558	393	392	379	372
Total Debt	172	112	128	146	172	211	217	80	94	107	122
Total Long-Term Debt	152	88	120	143	169	198	215	60	80	93	108
Net Debt	123	77	87	105	128	180	182	-7.15	9.04	13	49
Capital Expenditures (CapEx)	10	9.78	5.22	8.13	11	12	10.00	7.21	10	6.08	3.37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	136	130	130	116	117	149	125	78	70	74	73
Debt-free Net Working Capital (DFNWC)	185	166	171	157	160	180	160	166	155	168	146
Net Working Capital (NWC)	165	141	163	154	157	166	158	146	141	154	132
Net Nonoperating Expense (NNE)	5.87	4.07	7.05	4.31	11	11	10	2.64	3.21	3.55	20
Net Nonoperating Obligations (NNO)	123	77	87	105	128	180	182	-7.15	9.04	13	49
Total Depreciation and Amortization (D&A)	19	20	21	22	30	32	27	18	18	15	19
Debt-free, Cash-free Net Working Capital to Revenue	27.56%	29.50%	36.53%	42.14%	30.40%	36.06%	40.63%	29.71%	24.85%	23.90%	26.32%
Debt-free Net Working Capital to Revenue	37.39%	37.58%	48.18%	56.67%	41.67%	43.67%	51.94%	62.89%	54.84%	54.29%	52.51%
Net Working Capital to Revenue	33.43%	31.97%	45.95%	55.76%	41.02%	40.35%	51.13%	55.22%	50.06%	49.91%	47.64%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.53	$1.01	$0.60	$0.00	$0.36	$0.70	$0.37	$0.45	$0.72	$1.54	$0.82
Adjusted Weighted Average Basic Shares Outstanding	33.67M	33.47M	33.31M	0.00	32.76M	32.57M	32.42M	32.30M	32.18M	32.03M	31.60M
Adjusted Diluted Earnings per Share	$1.51	$1.00	$0.60	$0.00	$0.36	$0.69	$0.36	$0.45	$0.71	$1.52	$0.80
Adjusted Weighted Average Diluted Shares Outstanding	34.07M	33.75M	33.51M	0.00	33.15M	33.05M	32.80M	32.63M	32.59M	32.41M	32.15M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	33.77M	33.51M	33.37M	0.00	32.96M	32.64M	32.50M	32.37M	32.23M	32.09M	31.93M
Normalized Net Operating Profit after Tax (NOPAT)	58	40	27	11	23	34	24	18	28	53	46
Normalized NOPAT Margin	11.77%	9.14%	7.55%	4.06%	5.95%	8.22%	7.63%	6.67%	9.97%	17.16%	16.64%
Pre Tax Income Margin	13.68%	11.17%	7.99%	-0.23%	4.45%	8.03%	5.96%	7.22%	11.48%	20.27%	11.81%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.65	9.39	5.89	0.94	2.22	3.09	2.90	6.26	8.71	14.60	2.28
NOPAT to Interest Expense	6.50	6.43	4.67	0.51	1.63	2.16	2.51	5.01	6.49	11.60	1.81
EBIT Less CapEx to Interest Expense	7.50	7.72	4.99	0.14	1.46	2.33	1.83	4.21	6.20	13.27	2.14
NOPAT Less CapEx to Interest Expense	5.35	4.76	3.77	-0.29	0.87	1.39	1.45	2.96	3.98	10.27	1.68
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	4.09%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.48%	0.00%	0.00%	0.00%	0.00%	4.09%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Thermon Group's official financial filings.

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.52%	-7.29%	7.71%	4.22%	11.72%	22.97%	11.99%	19.40%	21.37%	23.65%	34.13%
EBITDA Growth	25.97%	-17.04%	-3.49%	21.51%	35.55%	24.76%	32.81%	10.42%	-5.15%	141.72%	78.33%
EBIT Growth	24.69%	-26.39%	-11.91%	19.91%	50.14%	36.39%	52.99%	16.17%	-5.28%	380.36%	237.75%
NOPAT Growth	22.86%	-32.12%	-10.93%	46.76%	80.98%	32.97%	53.14%	-13.31%	-25.59%	417.53%	777.16%
Net Income Growth	17.06%	-35.55%	-22.19%	30.93%	87.98%	34.10%	66.84%	-11.33%	-25.24%	2,202.73%	2,028.24%
EPS Growth	17.39%	-34.88%	-21.88%	36.36%	84.00%	30.30%	60.00%	-18.52%	-24.24%	3,200.00%	2,100.00%
Operating Cash Flow Growth	-59.56%	152.42%	1,358.41%	43.12%	27.55%	405.51%	-92.68%	73.97%	478.88%	-91.59%	378.81%
Free Cash Flow Firm Growth	142.53%	-7,285.30%	-850.45%	-7,333.01%	-792.98%	107.31%	163.80%	-115.26%	-156.51%	-895.79%	-13.47%
Invested Capital Growth	-3.48%	18.43%	15.81%	20.58%	22.81%	3.00%	0.48%	1.99%	4.17%	5.96%	4.61%
Revenue Q/Q Growth	17.19%	-0.42%	-9.81%	-6.43%	10.33%	15.69%	-12.73%	0.30%	21.43%	5.36%	-6.96%
EBITDA Q/Q Growth	55.19%	9.64%	-15.86%	-12.02%	2.20%	27.55%	5.94%	-1.85%	-5.94%	35.79%	-11.92%
EBIT Q/Q Growth	74.81%	13.60%	-19.52%	-21.98%	3.20%	35.94%	9.55%	-2.30%	-6.25%	52.49%	-16.82%
NOPAT Q/Q Growth	84.39%	4.96%	-14.65%	-25.63%	1.88%	37.73%	40.63%	-8.28%	-25.15%	58.62%	-20.39%
Net Income Q/Q Growth	95.27%	11.55%	-15.59%	-36.33%	7.52%	34.67%	42.03%	-8.59%	-23.30%	67.54%	-24.51%
EPS Q/Q Growth	92.86%	12.00%	-16.67%	-34.78%	6.98%	34.38%	45.45%	-12.00%	-24.24%	65.00%	-25.93%
Operating Cash Flow Q/Q Growth	14.91%	-32.36%	-66.12%	53.60%	617.22%	290.78%	-96.68%	36.88%	2,742.62%	-94.34%	-20.98%
Free Cash Flow Firm Q/Q Growth	149.62%	-20.43%	21.16%	9.73%	-8,483.41%	-87.42%	880.92%	89.16%	31.37%	-9.77%	-286.74%
Invested Capital Q/Q Growth	-2.53%	3.88%	-0.44%	-4.26%	19.60%	1.59%	3.66%	-2.49%	0.30%	-0.89%	5.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	46.24%	44.41%	43.81%	41.04%	42.08%	44.04%	44.26%	42.07%	41.32%	45.67%	39.00%
EBITDA Margin	24.79%	18.72%	17.00%	18.22%	19.38%	20.92%	18.97%	15.63%	15.97%	20.62%	16.00%
Operating Margin	20.61%	13.26%	11.93%	13.18%	15.72%	17.54%	14.42%	11.33%	11.52%	15.95%	11.75%
EBIT Margin	20.51%	13.75%	12.05%	13.51%	16.20%	17.32%	14.74%	11.74%	12.06%	15.62%	10.79%
Profit (Net Income) Margin	13.80%	8.28%	7.39%	7.90%	11.61%	11.91%	10.23%	6.29%	6.90%	10.92%	6.87%
Tax Burden Percent	74.08%	73.17%	77.16%	73.80%	77.83%	75.57%	77.19%	60.97%	65.59%	76.84%	69.28%
Interest Burden Percent	90.80%	82.30%	79.49%	79.23%	92.06%	91.01%	89.95%	87.83%	87.25%	91.03%	91.89%
Effective Tax Rate	25.92%	26.83%	22.84%	26.20%	22.17%	24.43%	22.81%	39.03%	34.41%	23.16%	30.72%
Return on Invested Capital (ROIC)	12.24%	8.40%	8.35%	8.80%	10.57%	12.24%	9.81%	6.20%	6.38%	9.93%	6.18%
ROIC Less NNEP Spread (ROIC-NNEP)	10.78%	6.84%	6.25%	6.46%	9.90%	10.50%	8.80%	5.27%	5.56%	8.67%	5.05%
Return on Net Nonoperating Assets (RNNOA)	3.06%	1.52%	1.37%	1.44%	2.86%	2.39%	2.01%	1.05%	1.37%	2.38%	1.38%
Return on Equity (ROE)	15.29%	9.93%	9.72%	10.24%	13.43%	14.63%	11.82%	7.25%	7.74%	12.31%	7.56%
Cash Return on Invested Capital (CROIC)	12.44%	-7.95%	-4.53%	-8.16%	-11.04%	5.98%	7.69%	5.72%	3.76%	2.79%	2.30%
Operating Return on Assets (OROA)	12.86%	9.53%	8.57%	9.43%	10.90%	12.49%	10.10%	8.04%	7.95%	9.79%	6.37%
Return on Assets (ROA)	8.65%	5.74%	5.26%	5.51%	7.81%	8.59%	7.01%	4.31%	4.55%	6.85%	4.06%
Return on Common Equity (ROCE)	15.29%	9.93%	9.72%	10.24%	13.43%	14.63%	11.82%	7.25%	7.74%	12.31%	7.56%
Return on Equity Simple (ROE_SIMPLE)	9.54%	8.96%	10.33%	0.00%	10.53%	9.45%	8.77%	0.00%	8.42%	9.47%	6.73%
Net Operating Profit after Tax (NOPAT)	21	11	11	12	17	16	12	8.46	9.22	12	7.77
NOPAT Margin	15.27%	9.70%	9.20%	9.73%	12.24%	13.25%	11.13%	6.91%	7.55%	12.26%	8.14%
Net Nonoperating Expense Percent (NNEP)	1.45%	1.57%	2.09%	2.34%	0.67%	1.74%	1.01%	0.93%	0.81%	1.26%	1.13%
Return On Investment Capital (ROIC_SIMPLE)	3.20%	-	-	-	2.46%	-	-	-	-	-	-
Cost of Revenue to Revenue	53.76%	55.59%	56.19%	58.96%	57.92%	55.96%	55.74%	57.93%	58.68%	54.33%	61.00%
SG&A Expenses to Revenue	25.40%	27.27%	27.00%	25.71%	23.35%	24.66%	26.81%	27.72%	25.30%	27.60%	25.57%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.63%	31.15%	31.88%	27.86%	26.36%	26.50%	29.84%	30.74%	29.80%	29.72%	27.25%
Earnings before Interest and Taxes (EBIT)	28	16	14	17	22	21	16	14	15	16	10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	33	21	20	23	26	26	20	19	20	21	15
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.98	2.06	2.18	2.32	2.35	2.09	2.05	1.99	1.63	1.30	1.17
Price to Tangible Book Value (P/TBV)	9.06	10.08	12.45	14.32	16.72	6.83	7.47	7.92	7.14	6.43	6.58
Price to Revenue (P/Rev)	1.97	2.04	2.07	2.23	2.24	1.95	1.97	1.90	1.60	1.29	1.23
Price to Earnings (P/E)	20.41	22.52	20.76	21.03	36.57	40.95	47.28	57.69	21.24	14.95	19.54
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.90%	4.44%	4.82%	4.75%	2.73%	2.44%	2.11%	1.73%	4.71%	6.69%	5.12%
Enterprise Value to Invested Capital (EV/IC)	1.80	1.84	1.95	2.05	2.01	1.93	1.89	1.84	1.51	1.24	1.13
Enterprise Value to Revenue (EV/Rev)	2.20	2.30	2.30	2.48	2.56	2.12	2.15	2.07	1.83	1.57	1.52
Enterprise Value to EBITDA (EV/EBITDA)	11.10	12.53	12.17	12.79	13.68	11.85	12.19	12.21	10.56	8.48	9.38
Enterprise Value to EBIT (EV/EBIT)	14.55	16.48	15.51	16.02	17.03	15.17	16.04	16.55	14.49	11.63	13.96
Enterprise Value to NOPAT (EV/NOPAT)	19.83	22.34	20.63	21.34	23.46	21.87	23.19	24.16	19.70	14.83	17.03
Enterprise Value to Operating Cash Flow (EV/OCF)	15.83	13.71	14.89	18.59	22.94	20.33	20.79	15.80	16.51	20.33	15.19
Enterprise Value to Free Cash Flow (EV/FCFF)	14.19	0.00	0.00	0.00	0.00	32.68	24.65	32.48	41.09	45.57	50.44
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.31	0.34	0.35	0.36	0.45	0.25	0.26	0.27	0.32	0.36	0.37
Long-Term Debt to Equity	0.28	0.29	0.31	0.32	0.35	0.16	0.19	0.21	0.24	0.26	0.28
Financial Leverage	0.28	0.22	0.22	0.22	0.29	0.23	0.23	0.20	0.25	0.27	0.27
Leverage Ratio	1.64	1.53	1.55	1.59	1.66	1.57	1.58	1.57	1.60	1.65	1.64
Compound Leverage Factor	1.49	1.26	1.24	1.26	1.52	1.43	1.42	1.38	1.39	1.50	1.50
Debt to Total Capital	23.82%	25.18%	26.12%	26.54%	31.24%	19.96%	20.68%	21.16%	24.33%	26.54%	27.24%
Short-Term Debt to Total Capital	2.81%	3.34%	3.22%	3.04%	7.13%	6.83%	6.00%	4.65%	6.38%	7.11%	6.84%
Long-Term Debt to Total Capital	21.01%	21.85%	22.90%	23.51%	24.12%	13.14%	14.69%	16.50%	17.94%	19.43%	20.41%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	76.18%	74.82%	73.88%	73.46%	68.76%	80.04%	79.32%	78.84%	75.67%	73.46%	72.76%
Debt to EBITDA	1.57	1.82	1.77	1.79	2.32	1.30	1.42	1.51	1.82	1.94	2.43
Net Debt to EBITDA	1.17	1.41	1.25	1.28	1.71	0.94	1.00	1.03	1.33	1.50	1.78
Long-Term Debt to EBITDA	1.38	1.58	1.55	1.59	1.79	0.86	1.01	1.17	1.34	1.42	1.82
Debt to NOPAT	2.80	3.24	3.00	2.99	3.97	2.40	2.70	2.98	3.39	3.38	4.42
Net Debt to NOPAT	2.09	2.52	2.12	2.14	2.94	1.74	1.91	2.03	2.48	2.63	3.24
Long-Term Debt to NOPAT	2.47	2.81	2.63	2.64	3.07	1.58	1.92	2.32	2.50	2.48	3.31
Altman Z-Score	3.74	3.79	3.75	3.76	3.39	4.16	3.96	3.69	3.17	2.61	2.39
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.56	2.80	2.61	2.51	2.22	2.29	2.32	2.28	2.31	2.13	2.20
Quick Ratio	1.40	1.33	1.45	1.43	1.26	1.12	1.13	1.21	1.16	1.09	1.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	42	-85	-71	-90	-99	1.18	9.42	-1.21	-11	-16	-15
Operating Cash Flow to CapEx	706.32%	459.83%	322.69%	1,192.31%	1,069.83%	120.84%	30.99%	567.09%	1,223.48%	33.60%	733.46%
Free Cash Flow to Firm to Interest Expense	16.66	-30.50	-24.82	-25.02	-56.61	0.62	5.95	-0.69	-5.92	-11.51	-17.68
Operating Cash Flow to Interest Expense	3.88	3.07	4.45	10.43	13.87	1.76	0.55	14.91	10.16	0.48	14.20
Operating Cash Flow Less CapEx to Interest Expense	3.33	2.40	3.07	9.56	12.57	0.30	-1.22	12.28	9.33	-0.94	12.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	0.69	0.71	0.70	0.67	0.72	0.69	0.69	0.66	0.63	0.59
Accounts Receivable Turnover	4.18	5.06	5.28	4.83	4.60	4.70	4.86	4.57	4.63	4.36	4.51
Inventory Turnover	2.93	3.04	3.15	3.36	2.97	2.89	2.87	3.32	3.05	2.92	3.04
Fixed Asset Turnover	7.08	7.47	7.50	7.52	7.59	7.51	6.99	6.81	6.61	6.14	5.61
Accounts Payable Turnover	9.80	8.70	9.79	9.64	9.85	7.17	7.74	8.39	7.59	6.50	7.57
Days Sales Outstanding (DSO)	87.29	72.09	69.07	75.62	79.42	77.63	75.06	79.92	78.87	83.63	80.89
Days Inventory Outstanding (DIO)	124.75	120.16	115.77	108.61	122.90	126.13	127.28	109.86	119.49	125.18	119.95
Days Payable Outstanding (DPO)	37.24	41.97	37.30	37.86	37.07	50.90	47.17	43.50	48.08	56.18	48.23
Cash Conversion Cycle (CCC)	174.79	150.27	147.54	146.36	165.25	152.86	155.16	146.27	150.28	152.63	152.62
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	603	618	595	598	624	522	514	496	508	507	511
Invested Capital Turnover	0.80	0.87	0.91	0.90	0.86	0.92	0.88	0.90	0.84	0.81	0.76
Increase / (Decrease) in Invested Capital	-22	96	81	102	116	15	2.48	9.67	20	29	23
Enterprise Value (EV)	1,083	1,137	1,158	1,226	1,255	1,005	971	912	769	627	579
Market Capitalization	969	1,009	1,039	1,103	1,098	925	891	835	673	516	469
Book Value per Share	$14.51	$14.50	$14.10	$14.09	$13.87	$13.13	$12.95	$12.51	$12.29	$11.82	$12.02
Tangible Book Value per Share	$3.18	$2.96	$2.47	$2.28	$1.95	$4.02	$3.56	$3.15	$2.81	$2.40	$2.14
Total Capital	641	655	644	646	680	553	547	531	544	539	552
Total Debt	153	165	168	172	212	110	113	112	132	143	150
Total Long-Term Debt	135	143	148	152	164	73	80	88	98	105	113
Net Debt	114	128	119	123	157	80	80	77	97	111	110
Capital Expenditures (CapEx)	1.39	1.86	3.92	3.13	2.27	2.81	2.80	4.60	1.56	2.00	1.62
Debt-free, Cash-free Net Working Capital (DFCFNWC)	150	162	136	136	163	159	145	130	143	143	133
Debt-free Net Working Capital (DFNWC)	189	199	185	185	218	190	178	166	178	175	173
Net Working Capital (NWC)	171	177	164	165	170	152	146	141	143	137	135
Net Nonoperating Expense (NNE)	1.97	1.63	2.09	2.33	0.86	1.66	0.96	0.76	0.80	1.34	1.21
Net Nonoperating Obligations (NNO)	114	128	119	123	157	80	80	77	97	111	110
Total Depreciation and Amortization (D&A)	5.74	5.69	5.69	6.02	4.34	4.45	4.53	4.76	4.78	5.03	4.97
Debt-free, Cash-free Net Working Capital to Revenue	30.46%	32.73%	27.00%	27.56%	33.31%	33.49%	32.11%	29.50%	33.93%	35.93%	34.88%
Debt-free Net Working Capital to Revenue	38.34%	40.22%	36.76%	37.39%	44.63%	39.92%	39.45%	37.58%	42.34%	43.91%	45.42%
Net Working Capital to Revenue	34.68%	35.79%	32.64%	33.43%	34.73%	31.98%	32.19%	31.97%	34.09%	34.31%	35.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.55	$0.28	$0.25	$0.29	$0.47	$0.44	$0.33	$0.23	$0.25	$0.33	$0.20
Adjusted Weighted Average Basic Shares Outstanding	33.71M	33.79M	33.76M	33.67M	33.70M	33.69M	33.57M	33.47M	33.49M	33.48M	33.40M
Adjusted Diluted Earnings per Share	$0.54	$0.28	$0.25	$0.30	$0.46	$0.43	$0.32	$0.22	$0.25	$0.33	$0.20
Adjusted Weighted Average Diluted Shares Outstanding	34.09M	34.14M	34.08M	34.07M	34.20M	34.13M	33.86M	33.75M	33.88M	33.77M	33.57M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	33.69M	33.69M	33.80M	33.77M	33.71M	33.70M	33.69M	33.51M	33.50M	33.49M	33.47M
Normalized Net Operating Profit after Tax (NOPAT)	18	12	12	12	18	17	12	9.08	11	12	7.77
Normalized NOPAT Margin	13.60%	10.09%	10.62%	9.01%	13.00%	13.44%	11.55%	7.42%	8.99%	12.26%	8.14%
Pre Tax Income Margin	18.63%	11.32%	9.58%	10.70%	14.91%	15.76%	13.26%	10.31%	10.52%	14.22%	9.91%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.87	5.65	4.87	4.81	12.60	11.13	9.95	8.21	7.84	11.15	12.33
NOPAT to Interest Expense	8.09	3.99	3.72	3.47	9.52	8.51	7.51	4.83	4.91	8.75	9.30
EBIT Less CapEx to Interest Expense	10.32	4.98	3.50	3.94	11.30	9.67	8.18	5.58	7.01	9.73	10.40
NOPAT Less CapEx to Interest Expense	7.54	3.32	2.34	2.59	8.22	7.05	5.74	2.20	4.08	7.33	7.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	13.81%	9.31%	3.72%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Thermon Group's Financials

When does Thermon Group's financial year end?

According to the most recent income statement we have on file, Thermon Group's fiscal year ends in March. Their fiscal year 2024 ended on March 31, 2024.

How has Thermon Group's net income changed over the last 10 years?

Over the last 10 years, Thermon Group's net income changed from $25.80 million in 2014 to $51.59 million in 2024, a change of 100.0%. Check out Thermon Group's forecast to explore projected trends and price targets.

What is Thermon Group's operating income?

Thermon Group's total operating income in 2024 was $75.37 million, based on the following breakdown:

Total Gross Profit: $211.56 million
Total Operating Expenses: $136.19 million

How has Thermon Group revenue changed over the last 10 years?

Over the last 10 years, Thermon Group's total revenue changed from $277.32 million in 2014 to $494.63 million in 2024, a change of 78.4%.

How much debt does Thermon Group have?

Thermon Group's total liabilities were at $292.85 million at the end of 2024, a 27.0% increase from 2023, and a 52.8% increase since 2014.

How much cash does Thermon Group have?

In the past 10 years, Thermon Group's cash and equivalents has ranged from $31.40 million in 2019 to $93.77 million in 2015, and is currently $48.63 million as of their latest financial filing in 2024.

How has Thermon Group's book value per share changed over the last 10 years?

Over the last 10 years, Thermon Group's book value per share changed from 7.87 in 2014 to 14.09 in 2024, a change of 79.0%.

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This page (NYSE:THR) was last updated on 5/27/2025 by MarketBeat.com Staff

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Thermon Group (THR) Financials

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Thermon Group (THR) Financials

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