A Business at a Glance
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Gentherm Inc
THRM
$1.3B
Mkt Cap
$42.69
-6.40%
Gentherm Inc (THRM) has a current P/E ratio of 72.4, compared to its historical median P/E of 33.7. The stock is currently considered Expensive based on its historical valuation range.
Gentherm Inc (THRM) has a 5-year average return on invested capital (ROIC) of 9.3%. This is below average and may indicate limited pricing power.
Gentherm Inc (THRM) has a market capitalization of $1.3B. It is classified as a small-cap stock.
Gentherm Inc (THRM) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.76%.
Based on historical P/E analysis, Gentherm Inc (THRM) appears expensive. The current P/E of 72.4 is 114% above its historical median of 33.7. The estimated fair value CAGR (P/E method) is -6.7%.
Gentherm Inc (THRM) operates in the Motor Vehicle Parts & Accessories industry, within the Consumer Cyclical sector.
Gentherm Inc (THRM) reported annual revenue of $1.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Unless otherwise indicated, references to “Gentherm”, “the Company”, “we”, “our” and “us” in this Annual Report refer to Gentherm Incorporated and its consolidated subsidiaries. Except to the extent expressly noted herein, the content of our website or the websites of other third parties noted herein are not incorporated by reference in this Annual Report. Gentherm Incorporated is a global market leader of innovative thermal management and pneumatic comfort technologies. Our automotive products include Climate Control Seats (CCS®), Climate Control Interiors (CCI™), Lumbar and Massage Comfort Solutions, Valve Systems, and Climate and Comfort Electronics. We operate in locations aligned with our major customers’ product strategies to provide locally enhanced design, integration and production capabilities. Our medical products include patient temperature management systems that can be found in hospitals throughout the world.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.5B | 1.5B | 1.5B | 1.5B | 1.2B | 1.0B |
| Net Income | 23M | 18M | 65M | 40M | 24M | 93M |
| EPS | $0.74 | $0.59 | $2.06 | $1.22 | $0.73 | $2.79 |
| Free Cash Flow | 79M | 61M | 36M | 82M | -25M | 105M |
| ROIC | 5.6% | 6.6% | 9.3% | 7.6% | 4.8% | 18.2% |
| Gross Margin | 24.2% | 24.2% | 25.2% | 23.9% | 22.7% | 29.0% |
| Debt/Equity | 0.31 | 0.34 | 0.43 | 0.38 | 0.39 | 0.10 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 77M | 83M | 107M | 77M | 48M | 115M |
| Operating Margin | 5.0% | 5.5% | 7.3% | 5.3% | 4.0% | 11.0% |
| ROE | 3.2% | 2.7% | 10.3% | 6.1% | 3.7% | 15.1% |
| Shares Outstanding | 31M | 31M | 32M | 33M | 33M | 33M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | N/A | 918M | 994M | 1.0B | 972M | 913M | 1.0B | 1.2B | 1.5B | 1.5B | 1.5B | 1.5B |
| Gross Margin | N/A | N/A | 32.2% | 32.1% | 29.1% | 29.7% | 29.4% | 29.0% | 22.7% | 23.9% | 25.2% | 24.2% | 24.2% |
| R&D | 58M | 60M | 73M | 82M | 80M | 72M | 68M | 75M | 86M | 94M | 89M | 95M | 94M |
| SG&A | 85M | 95M | 115M | 140M | 137M | 119M | 105M | 110M | 133M | 156M | 155M | 170M | 187M |
| EBIT | 98M | 121M | 106M | 97M | 73M | 84M | 89M | 115M | 48M | 77M | 107M | 83M | 77M |
| Op. Margin | N/A | N/A | 11.6% | 9.8% | 6.9% | 8.7% | 9.8% | 11.0% | 4.0% | 5.3% | 7.3% | 5.5% | 5.0% |
| Net Income | 70M | 95M | 77M | 35M | 42M | 49M | 60M | 93M | 24M | 40M | 65M | 18M | 23M |
| Net Margin | N/A | N/A | 8.3% | 3.5% | 4.0% | 5.0% | 6.5% | 8.9% | 2.0% | 2.7% | 4.5% | 1.2% | 1.5% |
| Non-Recurring | -131K | -20K | -468K | -1.0M | 18M | 33M | 5.1M | 2.9M | 6.2M | 24M | 17M | 10M | 15M |
| Returns on Capital | |||||||||||||
| ROIC | 21.0% | 24.6% | 18.6% | 11.1% | 8.9% | 12.6% | 12.3% | 18.2% | 4.8% | 7.6% | 9.3% | 6.6% | 5.6% |
| ROE | 26.6% | 28.1% | 18.1% | 6.9% | 8.1% | 10.1% | 11.2% | 15.1% | 3.7% | 6.1% | 10.3% | 2.7% | 3.2% |
| ROA | 13.5% | 15.9% | 10.3% | 4.1% | 5.0% | 6.3% | 6.8% | 9.5% | 2.2% | 3.3% | 5.2% | 1.4% | 1.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 80M | 105M | 108M | 50M | 118M | 119M | 111M | 143M | 15M | 119M | 110M | 117M | 125M |
| Free Cash Flow | 41M | 49M | 42M | -905K | 77M | 95M | 93M | 105M | -25M | 82M | 36M | 61M | 79M |
| Owner Earnings | 48M | 65M | 52M | -46M | 11M | -17M | 61M | 90M | -36M | 57M | 46M | 51M | -210M |
| CapEx | 39M | 55M | 66M | 51M | 42M | 24M | 17M | 38M | 40M | 38M | 73M | 56M | 46M |
| Maint. CapEx | 27M | 34M | 47M | 83M | 99M | 129M | 41M | 39M | 44M | 51M | 53M | 53M | 323M |
| Growth CapEx | 12M | 21M | 19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20M | 2.3M | 0 |
| D&A | 27M | 34M | 47M | 83M | 99M | 129M | 41M | 39M | 44M | 51M | 53M | 53M | 323M |
| CapEx/OCF | 48.4% | 53.0% | 61.2% | 101.8% | 35.1% | 20.0% | 15.6% | 26.9% | 265.6% | 31.5% | 66.9% | 47.7% | 37.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 1.1M | 0 | 0 | 5.3M | 148M | 63M | 9.1M | 20M | 0 | 91M | 52M | 10M | 10M |
| Buyback Yield | N/A | N/A | N/A | 0.5% | 10.4% | 4.3% | 0.4% | 0.7% | N/A | 5.2% | 4.2% | 0.9% | 0.8% |
| Stock-Based Comp | 4.7M | 6.0M | 9.2M | 13M | 9.0M | 6.3M | 8.8M | 15M | 6.6M | 12M | 10M | 12M | 12M |
| Debt Repayment | 80M | 5.1M | 42M | 27M | 99M | 97M | 91M | 153M | 13M | 72M | 71M | 143M | 143M |
| Balance Sheet | |||||||||||||
| Net Debt | 97M | -47M | -5.7M | 41M | 100M | 43M | -44M | -126M | 109M | 97M | 131M | 86M | 42M |
| Cash & Equiv. | 86M | 144M | 177M | 103M | 40M | 50M | 268M | 191M | 154M | 150M | 134M | 161M | 177M |
| Long-Term Debt | 85M | 93M | 169M | 141M | 136M | 78M | 190M | 36M | 233M | 222M | 220M | 189M | 219M |
| Debt/Equity | 0.62 | 0.25 | 0.37 | 0.26 | 0.29 | 0.19 | 0.38 | 0.10 | 0.39 | 0.38 | 0.43 | 0.34 | 0.31 |
| Interest Coverage | 30.2 | 46.5 | 32.6 | 19.9 | 14.7 | 17.7 | 19.6 | 41.7 | 11.2 | 5.3 | 7.0 | 6.0 | 83.0 |
| Equity | 294M | 384M | 460M | 554M | 480M | 484M | 586M | 654M | 672M | 645M | 617M | 720M | 716M |
| Total Assets | 554M | 648M | 843M | 883M | 803M | 739M | 1.0B | 935M | 1.2B | 1.2B | 1.2B | 1.4B | 1.4B |
| Total Liabilities | 260M | 264M | 383M | 330M | 323M | 255M | 437M | 282M | 567M | 590M | 631M | 676M | 714M |
| Intangibles | 68M | 48M | 58M | 83M | 56M | 50M | 46M | 38M | 74M | 66M | 57M | 53M | 51M |
| Retained Earnings | 85M | 180M | 257M | 294M | 364M | 413M | 473M | 566M | 591M | 624M | 696M | 714M | 718M |
| Working Capital | 187M | 270M | 291M | 290M | 268M | 217M | 438M | 353M | 398M | 363M | 344M | 373M | 408M |
| Current Assets | 335M | 416M | 484M | 461M | 443M | 374M | 644M | 566M | 684M | 688M | 684M | 777M | 826M |
| Current Liabilities | 148M | 145M | 194M | 171M | 175M | 157M | 206M | 213M | 286M | 325M | 340M | 404M | 418M |
| Per Share Data | |||||||||||||
| EPS | 1.95 | 2.62 | 2.09 | 0.96 | 1.16 | 1.47 | 1.81 | 2.79 | 0.73 | 1.22 | 2.06 | 0.59 | 0.74 |
| Owner EPS | 1.35 | 1.77 | 1.42 | -1.25 | 0.30 | -0.51 | 1.84 | 2.68 | -1.08 | 1.71 | 1.47 | 1.65 | -6.85 |
| Book Value | 8.18 | 10.55 | 12.56 | 15.09 | 13.28 | 14.56 | 17.78 | 19.52 | 20.08 | 19.50 | 19.57 | 23.24 | 23.36 |
| Cash Flow/Share | 2.23 | 2.88 | 2.96 | 1.36 | 3.28 | 3.57 | 3.36 | 4.27 | 0.45 | 3.61 | 3.48 | 3.77 | 11.27 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 36.0M | 36.4M | 36.6M | 36.7M | 36.1M | 33.2M | 33.0M | 33.5M | 33.5M | 33.1M | 31.5M | 31.0M | 30.7M |
| Valuation | |||||||||||||
| P/E Ratio | 19.6 | 18.5 | 16.4 | 33.6 | 33.9 | 30.1 | 35.9 | 30.9 | 85.9 | 43.6 | 18.9 | 63.0 | 57.6 |
| P/FCF | 33.2 | 35.9 | 29.9 | N/A | 18.5 | 15.5 | 22.9 | 27.6 | N/A | 21.5 | 33.9 | 18.8 | 16.6 |
| EV/EBIT | 13.2 | 13.0 | 10.1 | 11.6 | 20.4 | 17.3 | 20.2 | 22.1 | 42.0 | 21.7 | 11.0 | 12.3 | 17.6 |
| Price/Book | 4.7 | 4.6 | 2.7 | 2.1 | 3.0 | 3.0 | 3.7 | 4.4 | 3.1 | 2.7 | 2.0 | 1.6 | 1.8 |
| Price/Sales | 1.7 | 2.0 | 1.4 | 1.3 | 1.3 | 1.4 | 1.6 | 2.5 | 1.9 | 1.3 | 1.1 | 0.7 | 0.9 |
| FCF Yield | 3.0% | 2.8% | 3.3% | -0.1% | 5.4% | 6.5% | 4.4% | 3.6% | -1.2% | 4.6% | 3.0% | 5.3% | 6.0% |
| Market Cap | 1.4B | 1.8B | 1.3B | 1.2B | 1.4B | 1.5B | 2.1B | 2.9B | 2.1B | 1.8B | 1.2B | 1.2B | 1.3B |
| Avg. Price | 38.40 | 47.71 | 35.78 | 35.50 | 38.96 | 40.73 | 43.87 | 76.55 | 69.16 | 57.94 | 48.86 | 32.87 | 42.69 |
| Year-End Price | 38.22 | 48.56 | 34.30 | 32.25 | 39.30 | 44.29 | 64.92 | 86.18 | 62.68 | 53.15 | 39.01 | 37.16 | 42.69 |
Gentherm Inc passes 2 of 9 quality checks, indicating weak fundamentals.
Gentherm Inc trades at 72.4x trailing earnings, compared to its 15-year median P/E of 33.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 21.3x vs a median of 22.2x. The company's 5-year average ROIC is 9.3% with a gross margin of 25.0%. Total shareholder yield (buybacks) is 0.8%. At current prices, the estimated annualized return to fair value is -11.2%.
Gentherm Inc (THRM) has a net profit margin of 1.2%. This is a modest margin.
Gentherm Inc (THRM) generated $61 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Gentherm Inc (THRM) has a debt-to-equity ratio of 0.34. This indicates a conservatively financed balance sheet.
Gentherm Inc (THRM) reported earnings per share (EPS) of $0.59 in its most recent fiscal year.
Gentherm Inc (THRM) has a return on equity (ROE) of 2.7%. This indicates moderate shareholder returns.
Gentherm Inc (THRM) has a 5-year average gross margin of 25.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for Gentherm Inc (THRM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Gentherm Inc (THRM) has a book value per share of $23.24, based on its most recent annual SEC filing.