Thermon Group Holdings, Inc. (THR) Financial Ratios
17 years of historical data (2009–2025) · Industrials · Industrial - Machinery
EV/EBITDA
↓
23.22
↑+56% vs avg
5yr avg: 14.93
30Y Low10.2·High27.4
P/FCF
↓
42.71
↑+98% vs avg
5yr avg: 21.61
30Y Low8.3·High72.4
P/B Ratio
↑
4.73
↑+153% vs avg
5yr avg: 1.87
30Y Low1.4·High3.2
ROE
↑
11.0%
↓+52% vs avg
5yr avg: 7.2%
30Y Low0%·High69%
Debt/EBITDA
↓
1.49
↓-44% vs avg
5yr avg: 2.67
30Y Low1.4·High5.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
THR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Thermon Group Holdings, Inc. trades at 43.8x earnings, 74% below its 5-year average of 166.5x, sitting at the 77th percentile of its historical range. Compared to the Industrials sector median P/E of 25.9x, the stock trades at a premium of 69%. On a free-cash-flow basis, the stock trades at 42.7x P/FCF, 98% above the 5-year average of 21.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.3B | $949M | $1.1B | $841M | $543M | $650M | $500M | $810M | $735M | $680M | $572M |
| Enterprise Value | $2.4B | $1.1B | $1.3B | $934M | $643M | $771M | $647M | $990M | $918M | $718M | $581M |
| P/E Ratio → | 43.79 | 17.74 | 21.67 | 24.92 | 27.00 | 741.06 | 41.86 | 35.52 | 62.25 | 46.31 | 24.73 |
| P/S Ratio | 4.53 | 1.90 | 2.25 | 1.91 | 1.53 | 2.35 | 1.30 | 1.96 | 2.38 | 2.57 | 2.03 |
| P/B Ratio | 4.73 | 1.91 | 2.35 | 2.01 | 1.36 | 1.72 | 1.44 | 2.29 | 2.12 | 2.14 | 1.89 |
| P/FCF | 42.71 | 17.94 | 20.29 | 17.43 | 23.07 | 29.33 | 8.34 | 72.39 | 61.73 | 37.64 | 16.20 |
| P/OCF | 35.78 | 15.03 | 16.90 | 14.57 | 18.88 | 21.45 | 7.06 | 34.88 | 33.54 | 25.72 | 11.94 |
P/E links to full P/E history page with 30-year chart
THR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Thermon Group Holdings, Inc.'s enterprise value stands at 23.2x EBITDA, 56% above its 5-year average of 14.9x. The Industrials sector median is 13.9x, placing the stock at a 67% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.13 | 2.53 | 2.12 | 1.81 | 2.79 | 1.69 | 2.40 | 2.98 | 2.72 | 2.06 |
| EV / EBITDA | 23.22 | 10.39 | 13.31 | 12.54 | 10.97 | 27.41 | 10.62 | — | 16.06 | 17.82 | 10.73 |
| EV / EBIT | 29.72 | 13.19 | 16.38 | 16.94 | 18.78 | 80.82 | 20.80 | 20.41 | 28.05 | 31.98 | 15.92 |
| EV / FCF | — | 20.06 | 22.82 | 19.34 | 27.33 | 34.80 | 10.81 | 88.48 | 77.11 | 39.72 | 16.45 |
THR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Thermon Group Holdings, Inc. earns an operating margin of 16.0%, above the Industrials sector average of 4.9%. Operating margins have expanded from 12.5% to 16.0% over the past 3 years, signaling improving operational efficiency. ROE of 11.0% is modest. ROIC of 9.8% represents adequate returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.7% | 44.7% | 42.8% | 42.0% | 39.4% | 42.3% | 42.1% | 42.6% | 46.6% | 42.4% | 46.6% |
| Operating Margin | 16.0% | 16.0% | 15.2% | 12.5% | 10.8% | 2.7% | 8.5% | -11.8% | 10.6% | 8.5% | 13.0% |
| Net Profit Margin | 10.7% | 10.7% | 10.4% | 7.6% | 5.6% | 0.3% | 3.1% | 5.5% | 3.9% | 5.5% | 8.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.0% | 11.0% | 11.5% | 8.2% | 5.2% | 0.2% | 3.4% | 6.5% | 3.6% | 4.7% | 8.0% |
| ROA | 7.0% | 7.0% | 7.3% | 5.2% | 3.2% | 0.1% | 1.9% | 3.5% | 2.1% | 3.4% | 5.4% |
| ROIC | 9.8% | 9.8% | 10.0% | 8.2% | 5.8% | 1.1% | 4.8% | -6.8% | 5.6% | 5.0% | 9.2% |
| ROCE | 12.3% | 12.3% | 12.6% | 10.1% | 6.9% | 1.3% | 5.7% | -8.2% | 6.5% | 6.1% | 9.9% |
THR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Thermon Group Holdings, Inc. carries a Debt/EBITDA ratio of 1.5x, which is manageable (53% below the sector average of 3.2x). Net debt stands at $112M ($152M total debt minus $40M cash). Interest coverage of 7.7x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.31 | 0.31 | 0.39 | 0.31 | 0.35 | 0.43 | 0.55 | 0.60 | 0.63 | 0.25 | 0.31 |
| Debt / EBITDA | 1.49 | 1.49 | 1.99 | 1.72 | 2.42 | 5.74 | 3.13 | — | 3.80 | 2.00 | 1.73 |
| Net Debt / Equity | — | 0.23 | 0.29 | 0.22 | 0.25 | 0.32 | 0.43 | 0.51 | 0.53 | 0.12 | 0.03 |
| Net Debt / EBITDA | 1.10 | 1.10 | 1.47 | 1.24 | 1.71 | 4.31 | 2.42 | — | 3.20 | 0.93 | 0.17 |
| Debt / FCF | — | 2.12 | 2.53 | 1.92 | 4.26 | 5.47 | 2.46 | 16.09 | 15.38 | 2.08 | 0.26 |
| Interest Coverage | 7.72 | 7.72 | 8.52 | 9.40 | 6.60 | 0.72 | 2.29 | -3.09 | 3.64 | 6.38 | 8.88 |
THR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Thermon Group Holdings, Inc.'s current ratio of 2.43x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.64x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.28x to 2.43x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.43 | 2.43 | 2.51 | 2.28 | 3.02 | 3.92 | 3.59 | 3.28 | 3.53 | 3.79 | 3.47 |
| Quick Ratio | 1.64 | 1.64 | 1.72 | 1.53 | 2.13 | 2.71 | 2.60 | 2.39 | 2.51 | 3.14 | 2.76 |
| Cash Ratio | 0.35 | 0.35 | 0.45 | 0.32 | 0.51 | 0.76 | 0.71 | 0.43 | 0.54 | 0.82 | 1.47 |
| Asset Turnover | — | 0.66 | 0.64 | 0.68 | 0.56 | 0.45 | 0.62 | 0.63 | 0.47 | 0.58 | 0.71 |
| Inventory Turnover | 3.09 | 3.09 | 3.28 | 3.11 | 3.01 | 2.50 | 3.68 | 3.65 | 2.58 | 4.47 | 3.71 |
| Days Sales Outstanding | — | 94.69 | 92.71 | 96.96 | 122.69 | 124.38 | 100.14 | 120.44 | 132.95 | 97.73 | 75.73 |
THR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Thermon Group Holdings, Inc. returns 1.0% to shareholders annually primarily through share buybacks. The earnings yield of 2.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.3% | 5.6% | 4.6% | 4.0% | 3.7% | 0.1% | 2.4% | 2.8% | 1.6% | 2.2% | 4.0% |
| FCF Yield | 2.3% | 5.6% | 4.9% | 5.7% | 4.3% | 3.4% | 12.0% | 1.4% | 1.6% | 2.7% | 6.2% |
| Buyback Yield | 1.0% | 2.5% | 0.2% | 0.1% | 0.1% | 0.1% | 0.2% | 0.1% | 0.1% | 0.1% | 0.2% |
| Total Shareholder Yield | 1.0% | 2.5% | 0.2% | 0.1% | 0.1% | 0.1% | 0.2% | 0.1% | 0.1% | 0.1% | 0.2% |
| Shares Outstanding | — | $34M | $34M | $34M | $34M | $33M | $33M | $33M | $33M | $33M | $33M |
Peer Comparison
Compare THR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 THRYou | $2B | 43.8 | 23.2 | 42.7 | 44.7% | 16.0% | 11.0% | 9.8% | 1.5 |
 BDC | $4B | 19.4 | 12.0 | 20.4 | 36.0% | 12.2% | 18.6% | 11.0% | 3.2 |
 REZI | $6B | -10.9 | 10.8 | — | 29.4% | 8.1% | -16.9% | 9.0% | 3.9 |
 TRMK | $3B | 12.1 | 9.5 | 11.4 | 71.0% | 25.5% | 11.0% | 7.1% | 3.4 |
 ENS | $8B | 24.9 | 16.1 | 59.1 | 30.2% | 12.8% | 19.8% | 13.6% | 2.1 |
 GNSS | $90M | -5.0 | — | — | 41.6% | -41.2% | -183.6% | -56.7% | — |
 AME | $55B | 37.7 | 30.4 | 33.1 | 36.4% | 26.2% | 14.6% | 12.1% | 1.2 |
 RBC | $20B | 80.9 | 43.6 | 83.6 | 44.4% | 22.6% | 8.5% | 6.9% | 2.1 |
 FELE | $4B | 31.1 | 14.0 | 23.0 | 35.5% | 12.7% | 11.3% | 14.7% | 0.8 |
 ITRI | $4B | 12.7 | 10.7 | 9.7 | 37.5% | 13.5% | 19.1% | 13.1% | 3.5 |
 ACCO | $372M | 9.2 | 6.8 | 7.3 | 29.8% | 7.1% | 6.5% | 5.5% | 5.1 |
| Industrials Median | — | 25.9 | 13.9 | 20.6 | 32.8% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 17 years · Updated daily
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Start ComparisonTHR — Frequently Asked Questions
Quick answers to the most common questions about buying THR stock.
What is Thermon Group Holdings, Inc.'s P/E ratio?
Thermon Group Holdings, Inc.'s current P/E ratio is 43.8x. The historical average is 32.6x. This places it at the 77th percentile of its historical range.
What is Thermon Group Holdings, Inc.'s EV/EBITDA?
Thermon Group Holdings, Inc.'s current EV/EBITDA is 23.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
What is Thermon Group Holdings, Inc.'s ROE?
Thermon Group Holdings, Inc.'s return on equity (ROE) is 11.0%. The historical average is 16.1%.
Is THR stock overvalued?
Based on historical data, Thermon Group Holdings, Inc. is trading at a P/E of 43.8x. This is at the 77th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Thermon Group Holdings, Inc.'s profit margins?
Thermon Group Holdings, Inc. has 44.7% gross margin and 16.0% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Thermon Group Holdings, Inc. have?
Thermon Group Holdings, Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.