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THERMON GROUP HOLDINGS, INC.

CIK: 1489096 SIC: 3620
$522.01M
Revenue
$58.80M
Net Income
45.44%
Gross Margin
15.92%
Op. Margin
$75.73M
Free Cash Flow
Financial Statements Annual (10-K)
Showing 12 of 12 annual reports available (2011 - 2024)
Breakdown TTM
(Dec 31, 2025)
FY 2024
(Mar 31, 2025)
FY 2023
(Mar 31, 2024)
FY 2022
(Mar 31, 2023)
FY 2021
(Mar 31, 2022)
FY 2019
(Mar 31, 2020)
FY 2018
(Mar 31, 2019)
FY 2016
(Mar 31, 2017)
FY 2015
(Mar 31, 2016)
FY 2014
(Mar 31, 2015)
FY 2013
(Mar 31, 2014)
FY 2012
(Mar 31, 2013)
FY 2011
(Mar 31, 2012)
+ Total Revenue $522.01M $498.21M $494.63M $440.59M $355.67M $383.49M $412.64M $264.13M $281.93M $308.58M $277.32M $284.04M $270.51M
Revenue Growth % 4.8% 0.7% 12.3% 23.9% -7.3% -7.1% 56.2% -6.3% -8.6% 11.3% -2.4% 5.0% nan%
Cost of Revenue $284.81M $275.31M $283.06M $255.47M $215.56M $221.85M $236.70M $152.20M $150.61M $153.87M $142.15M $151.20M $138.40M
+ Gross Profit $237.20M $222.90M $211.56M $185.12M $140.12M $161.64M $175.94M $111.93M $131.31M $154.70M $135.17M $132.83M $132.12M
Gross Margin % 45.4% 44.7% 42.8% 42.0% 39.4% 42.1% 42.6% 42.4% 46.6% 50.1% 48.7% 46.8% 48.8%
Selling General & Admin $138.82M $129.31M $123.82M $117.00M $93.05M $111.20M $106.66M $77.72M $80.73M $76.87M $65.46M $64.63M $76.28M
+ Operating Income $83.09M $79.76M $75.37M $55.19M $38.41M $32.66M $48.51M $22.44M $36.76M $67.06M $58.62M $56.99M $44.46M
Operating Margin % 15.9% 16.0% 15.2% 12.5% 10.8% 8.5% 11.8% 8.5% 13.0% 21.7% 21.1% 20.1% 16.4%
Interest Expense $8.38M $10.40M $9.18M $5.87M $5.82M $14.28M $15.71M $3.52M $4.14M $4.57M $10.02M $15.22M $19.58M
Interest Income - - - - - $252.00K $238.00K $566.00K $423.00K $460.00K $246.00K $112.00K $122.00K
Other Income/Expense $1.94M $687.00K $1.15M $-86.00K $-4.17M $-1.56M $109.00K $-410.00K - - - - $-24.96M
Income Before Tax $76.73M $70.12M $67.67M $49.23M $28.43M $17.08M $33.14M $19.08M $32.37M $62.56M $32.76M $41.55M $19.50M
Income Tax Expense $17.93M $16.60M $16.09M $15.57M $8.33M $5.14M $9.97M $4.10M $8.72M $13.18M $6.96M $14.58M $7.47M
+ Net Income $58.80M $53.52M $51.59M $33.67M $20.09M $11.94M $23.17M $14.98M $23.65M $49.39M $25.80M $26.97M $12.03M
Net Margin % 11.3% 10.7% 10.4% 7.6% 5.6% 3.1% 5.6% 5.7% 8.4% 16.0% 9.3% 9.5% 4.4%
Basic EPS 1.78 1.59 1.53 1.01 0.60 0.36 0.70 0.45 0.72 1.54 0.82 0.88 0.41
Diluted EPS 1.76 1.57 1.51 1.00 0.60 0.36 0.69 0.45 0.71 1.52 0.80 0.85 0.40
Basic Shares Outstanding 32.8M 33.7M 33.7M 33.5M 33.3M 32.8M 32.6M 32.3M 32.2M 32.0M 31.6M 30.8M 29.1M
Diluted Shares Outstanding 33.2M 34.1M 34.1M 33.7M 33.5M 33.1M 33.1M 32.6M 32.6M 32.4M 32.2M 31.8M 30.5M
Breakdown FY 2024
(Mar 31, 2025)
FY 2023
(Mar 31, 2024)
FY 2022
(Mar 31, 2023)
FY 2021
(Mar 31, 2022)
FY 2019
(Mar 31, 2020)
FY 2018
(Mar 31, 2019)
FY 2016
(Mar 31, 2017)
FY 2015
(Mar 31, 2016)
FY 2014
(Mar 31, 2015)
FY 2013
(Mar 31, 2014)
FY 2012
(Mar 31, 2013)
FY 2011
(Mar 31, 2012)
Cash & Cash Equivalents $39.54M $48.63M $35.63M $41.45M $43.24M $31.40M $42.84M $84.57M $93.77M $72.64M $43.85M $21.47M
Accounts Receivable $109.83M $107.32M $97.63M $95.31M $92.48M $105.32M $63.72M $58.49M $60.44M $52.58M $56.12M $50.04M
Inventory $88.98M $86.32M $82.13M $71.65M $60.27M $64.89M $34.02M $40.65M $41.01M $37.32M $34.39M $38.45M
Other Current Assets $16.53M $14.01M $16.14M $11.79M $9.22M $7.32M $7.81M $8.23M $5.13M $5.06M $6.20M $6.85M
Total Current Assets $274.29M $274.60M $250.94M $244.44M $217.94M $239.78M $198.17M $199.75M $210.70M $176.11M $151.58M $127.66M
Property Plant & Equipment - - $63.29M $66.04M $72.54M $74.95M $43.27M $41.62M $34.82M $31.53M $31.21M $27.66M
Goodwill $264.33M $270.79M $219.61M $212.75M $197.98M $205.00M $122.52M $121.51M $105.23M $114.11M $116.30M $118.01M
Intangible Assets $115.28M $127.09M $93.97M $94.91M $104.55M $126.60M $86.18M $104.00M $100.81M $118.92M $131.92M $144.80M
Other Non-current Assets $16.64M $12.24M $7.56M $6.79M $8.36M $5.61M $1.12M $323.00K $378.00K $263.00K $143.00K -
Total Assets $755.45M $767.74M $649.63M $636.67M $620.90M $655.76M $454.08M $468.68M $453.31M $442.46M $435.52M $425.58M
Accounts Payable $31.18M $31.40M $27.33M $33.57M $25.07M $22.70M $15.68M $19.46M $17.14M $17.07M $20.37M $15.73M
Accrued Liabilities $35.79M $31.62M $39.36M $26.97M $23.76M $27.85M $13.14M $18.24M $17.42M $9.87M $18.71M $22.44M
Deferred Revenue $19.60M $20.53M $8.48M - - - - - - - - -
Total Current Liabilities $112.66M $109.27M $110.07M $81.00M $60.63M $73.05M $52.32M $57.57M $53.14M $43.71M $45.66M $66.52M
Long-term Debt $120.37M $151.96M $87.71M - - - - - - - - -
Deferred Tax Liabilities $9.76M $9.44M $12.08M - - - - - - - - -
Other Non-current Liabilities $8.05M $9.55M $8.30M $8.43M $6.96M $7.89M $3.37M $3.18M $3.07M $2.39M $3.07M $2.44M
Total Liabilities $260.14M $292.85M $230.64M $237.47M $274.47M $306.81M $141.58M $169.98M $181.54M $191.71M - -
Common Stock $33.00K $34.00K $33.00K $33.00K $33.00K $33.00K $32.00K $32.00K $32.00K $32.00K $31.00K $30.00K
Retained Earnings $342.30M $288.78M $237.19M $203.53M $182.56M $170.62M $136.90M $122.26M $99.25M $49.86M $24.06M $-2.91M
Total Stockholders Equity $495.31M $474.89M $418.99M $399.20M $346.44M $344.75M $307.88M $294.42M $271.77M $250.47M $226.05M $192.48M
Total Liabilities & Equity $755.45M $767.74M $649.63M $636.67M $620.90M $655.76M $454.08M $468.68M $453.31M $442.46M $435.52M $425.58M
Breakdown TTM
(Dec 31, 2025)
FY 2024
(Mar 31, 2025)
FY 2023
(Mar 31, 2024)
FY 2022
(Mar 31, 2023)
FY 2021
(Mar 31, 2022)
FY 2019
(Mar 31, 2020)
FY 2018
(Mar 31, 2019)
FY 2016
(Mar 31, 2017)
FY 2015
(Mar 31, 2016)
FY 2014
(Mar 31, 2015)
FY 2013
(Mar 31, 2014)
FY 2012
(Mar 31, 2013)
FY 2011
(Mar 31, 2012)
Net Income $58.80M $53.52M $51.59M $33.67M $20.09M $11.94M $23.17M $14.98M $23.65M $49.39M $25.80M $26.97M $12.03M
Depreciation & Amortization $28.41M $22.34M $18.84M $19.23M $20.20M $28.27M $29.96M $17.83M $17.41M $14.14M $14.18M $13.83M $13.97M
Stock-based Compensation $11.25M $5.24M $5.75M $5.95M $3.80M $4.96M $4.15M $3.40M $3.75M $3.29M $2.20M $1.34M $6.51M
Deferred Income Tax $-2.35M $-1.08M $-2.08M $-4.56M $-1.65M $-3.74M $-5.55M $-3.26M $-4.09M $-7.16M $-4.43M $-1.92M $-2.77M
Change in Receivables $-30.17M $4.22M $540.00K $2.91M $21.74M $-9.45M $14.54M $5.21M $-6.27M $12.24M $-2.89M $7.12M $11.44M
Change in Inventory $56.07M $698.00K $-3.78M $8.84M $8.60M $-1.41M $3.43M $-6.58M $-1.64M $6.86M $3.50M $-3.39M $8.19M
Change in Payables $17.49M $-1.16M $2.71M $-7.12M $13.75M $3.41M $-21.00K $-4.61M $1.01M $-297.00K $-3.16M $4.89M $-1.29M
Operating Cash Flow $97.12M $63.12M $65.95M $57.71M $28.75M $70.73M $23.23M - - - - - -
Capital Expenditure $21.38M $10.25M $11.02M $9.45M $5.22M $10.86M $12.04M $8.37M $12.58M $6.08M $3.37M $6.26M $8.88M
Acquisitions - $10.54M $100.47M $35.30M - - - - $31.18M $3.89M $2.06M $289.00K $685.00K
Purchases of Investments - - - - - - - $44.79M - - - - -
Investing Cash Flow $-21.28M $-14.97M $-109.52M $-44.55M $-4.53M $-10.01M $-10.07M - - - - - -
Debt Repayment - $28.62M $30.87M $27.18M $178.91M $51.88M $40.32M $13.50M $13.50M $13.50M $13.50M - $2.06M
Stock Issued - - - - - - - - - - - - $3.43M
Stock Repurchased $55.26M $20.14M $250.00K - - - - - - - - - -
Dividends Paid - - - - - - - - - - - - -
Financing Cash Flow $-76.44M $-56.42M $56.53M $-13.46M $-22.66M $-46.54M $-14.10M - - - - - -
Net Change in Cash $3.38M $-9.01M $11.91M $-5.41M $1.48M $12.16M $-2.49M - - - - - -
SEC Filing Format - Data shown as it appears in the Q3 2026 (10-Q) filing Period ended: Dec 31, 2025
Condensed Consolidated Statements of Operations
Description Dec 31, 2025 Dec 31, 2025
Current Prior Year Current YTD Prior Year YTD
Total Revenue $147.31M - $387.93M -
Cost of Revenue $78.66M - $210.16M -
Gross Profit $68.65M - $177.77M -
Selling General & Admin $38.30M - $105.99M -
Operating Income $26.65M - $59.96M -
Interest Expense $2.16M - $6.14M -
Other Income/Expense $132.00K - $1.83M -
Income Before Tax $24.62M - $55.65M -
Income Tax Expense $6.33M - $13.82M -
Net Income $18.29M $9.49M $41.83M -
Basic EPS 0.56 - 1.28 -
Diluted EPS 0.55 - 1.27 -
Condensed Consolidated Balance Sheets
Description Dec 31, 2025 Mar 31, 2025
Cash & Cash Equivalents $46.86M $39.54M
Accounts Receivable $111.88M $109.83M
Inventory $116.99M $88.98M
Other Current Assets $19.79M $16.53M
Total Current Assets $320.62M $274.29M
Goodwill $271.39M $264.33M
Intangible Assets $107.37M $115.28M
Other Non-current Assets $20.52M $16.64M
Total Assets $816.70M $755.45M
Accounts Payable $38.89M $31.18M
Accrued Liabilities $34.44M $35.79M
Deferred Revenue $19.24M $19.60M
Total Current Liabilities $110.60M $112.66M
Long-term Debt $115.82M $120.37M
Deferred Tax Liabilities $9.29M $9.76M
Other Non-current Liabilities $9.61M $8.05M
Total Liabilities $278.00M $260.14M
Common Stock $33.00K $33.00K
Retained Earnings $384.12M $342.30M
Total Stockholders Equity $538.70M $495.31M
Total Liabilities & Equity $816.70M $755.45M
Condensed Consolidated Statements of Cash Flows
Description Dec 31, 2025 Dec 31, 2025
Current Prior Year Current YTD Prior Year YTD
Net Income $18.29M $9.49M $41.83M -
Depreciation & Amortization $5.70M - $17.17M -
Stock-based Compensation - - $5.20M -
Deferred Income Tax - - $-1.95M -
Change in Receivables - - $-1.58M -
Change in Inventory - - $25.91M -
Change in Payables - - $6.06M -
Operating Cash Flow - - $36.15M -
Capital Expenditure - - $10.40M -
Investing Cash Flow - - $-9.88M -
Stock Repurchased - - $15.77M -
Financing Cash Flow - - $-15.72M -
Net Change in Cash - - $11.18M -

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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