Thermon Group (THR) Financials

$25.02 +0.12 (+0.46%)

Closing price 03:59 PM Eastern

Extended Trading

$25.18 +0.16 (+0.64%)

As of 04:14 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	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	26	49	23	15	12	23	12	2.44	17	14	52
Consolidated Net Income / (Loss)	26	49	24	15	13	23	12	0.88	20	34	52
Net Income / (Loss) Continuing Operations	26	49	24	15	13	23	12	2.44	20	34	52
Total Pre-Tax Income	33	63	32	19	18	33	17	-0.64	28	49	68
Total Operating Income	59	67	37	22	33	49	33	7.41	38	55	75
Total Gross Profit	135	155	131	112	144	176	162	117	140	185	212
Total Revenue	277	309	282	264	309	413	383	276	356	441	495
Operating Revenue	277	309	282	264	309	413	383	276	356	441	495
Total Cost of Revenue	142	154	151	152	165	237	222	159	216	255	283
Operating Cost of Revenue	142	154	151	152	165	237	222	159	216	255	283
Total Operating Expenses	77	88	95	89	111	127	129	108	102	130	136
Selling, General & Admin Expense	65	77	81	78	95	107	112	90	93	117	124
Amortization Expense	11	11	12	12	16	21	18	9.45	8.79	9.45	10
Other Operating Expenses / (Income)	-	-	-	-	-	-	-0.39	0.00	0.28	-0.21	1.23
Restructuring Charge	-	-	-	-	-	0.00	0.00	8.62	-0.41	3.69	0.98
Total Other Income / (Expense), net	-26	-4.50	-4.40	-3.36	-14	-15	-16	-8.05	-9.98	-5.96	-7.70
Interest Expense	26	4.57	4.14	3.52	9.36	16	14	10	5.82	5.87	8.85
Other Income / (Expense), net	-0.60	-0.39	-0.68	-0.41	-5.60	0.11	-1.56	2.14	-4.17	-0.09	1.15
Income Tax Expense	6.96	13	8.72	4.10	5.17	9.97	5.14	-1.52	8.33	16	16
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-	-	-	-	2.99	19	-0.87
Basic Earnings per Share	$0.82	$1.54	$0.72	$0.45	$0.37	$0.70	$0.36	$0.03	$0.60	$1.01	$1.53
Weighted Average Basic Shares Outstanding	31.60M	32.03M	32.18M	32.30M	32.42M	32.57M	32.76M	33.13M	33.31M	33.47M	33.67M
Diluted Earnings per Share	$0.80	$1.52	$0.71	$0.45	$0.36	$0.69	$0.36	$0.03	$0.60	$1.00	$1.51
Weighted Average Diluted Shares Outstanding	32.15M	32.41M	32.59M	32.63M	32.80M	33.05M	33.15M	33.34M	33.51M	33.75M	34.07M
Weighted Average Basic & Diluted Shares Outstanding	31.93M	32.10M	32M	32.50M	32.20M	32.50M	32.96M	33.25M	33.37M	33.51M	33.77M

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

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

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

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

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

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

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

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

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

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%.

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 4/15/2025 by MarketBeat.com Staff

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Thermon Group (THR) Financials

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Thermon Group (THR) Financials

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