Last 47 quarters of trend data · Industrials · Industrial - Machinery
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Thermon Group Holdings, Inc.'s quarterly P/E stands at 16.9x, up 26.8% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 25.5% YoY to 10.4x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 41.61 | 16.89 | 14.84 | 27.00 | 13.93 | 13.32 | 26.64 | 30.76 | 28.21 | 17.70 | 15.97 | 20.78 | 27.09 |
| — | +26.8% | -44.3% | -12.2% | -50.6% | -24.8% | +66.8% | +48.0% | +4.1% | -11.8% | +36.8% | +18.3% | +73.9% | |
| P/S Ratio | 4.31 | 2.08 | 1.69 | 2.15 | 1.77 | 1.83 | 2.22 | 2.28 | 2.19 | 2.04 | 1.90 | 2.11 | 1.73 |
| — | +14.0% | -24.1% | -5.7% | -19.4% | -10.6% | +17.2% | +8.0% | +26.9% | +46.6% | +46.5% | +70.5% | +29.9% | |
| P/B Ratio | 4.49 | 2.28 | 1.72 | 1.84 | 1.91 | 2.01 | 2.08 | 2.20 | 2.36 | 2.38 | 2.12 | 2.08 | 2.02 |
| — | +13.4% | -17.0% | -16.6% | -18.8% | -15.8% | -2.0% | +6.1% | +16.7% | +44.2% | +61.2% | +76.6% | +47.8% | |
| P/FCF | 40.58 | 23.46 | 50.92 | 28.10 | 8.18 | 29.03 | 38.02 | 30.00 | 8.18 | 12.63 | 400.63 | — | 9.70 |
| — | -19.2% | +33.9% | -6.3% | -0.0% | +129.9% | -90.5% | — | -15.6% | +30.0% | — | — | -9.7% | |
| EV / EBITDA | 22.11 | 10.45 | 9.22 | 15.10 | 9.24 | 8.32 | 13.97 | 15.33 | 13.94 | 12.52 | 9.91 | 12.54 | 12.66 |
| — | +25.5% | -34.0% | -1.5% | -33.7% | -33.5% | +41.0% | +22.2% | +10.1% | +18.9% | +29.0% | +35.8% | +40.2% | |
| EV / EBIT | 28.31 | 12.62 | 11.46 | 20.25 | 11.41 | 10.06 | 18.41 | 21.31 | 18.25 | 14.57 | 12.05 | 15.81 | 16.33 |
| — | +25.5% | -37.8% | -5.0% | -37.5% | -30.9% | +52.8% | +34.8% | +11.8% | +8.5% | +17.4% | +9.4% | +25.1% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Thermon Group Holdings, Inc.'s operating margin was 18.1% in Q3 2026, up 1.7 pp QoQ and down 2.5 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 15.6% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 4.3% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.7% | 44.2% | 46.4% | 44.1% | 44.3% | 46.2% | 44.4% | 43.8% | 41.0% | 42.1% | 44.0% | 44.3% | 42.1% |
| — | -4.3% | +4.4% | +0.7% | +8.0% | +9.9% | +0.8% | -1.0% | -2.4% | +1.9% | -3.6% | +13.5% | +5.0% | |
| Operating Margin | 16.0% | 18.1% | 16.4% | 10.8% | 17.3% | 20.6% | 13.3% | 11.9% | 13.2% | 15.7% | 17.5% | 14.4% | 11.3% |
| — | -12.2% | +23.5% | -9.7% | +30.9% | +31.1% | -24.4% | -17.3% | +16.3% | +36.5% | +9.9% | +22.7% | -10.8% | |
| Net Margin | 10.7% | 12.4% | 11.4% | 7.9% | 12.7% | 13.8% | 8.3% | 7.4% | 7.9% | 11.6% | 11.9% | 10.2% | 6.3% |
| — | -10.0% | +37.1% | +6.6% | +60.2% | +18.9% | -30.5% | -27.8% | +25.6% | +68.2% | +9.1% | +49.0% | -25.7% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.0% | 3.5% | 2.9% | 1.7% | 3.4% | 3.8% | 2.0% | 1.8% | 2.1% | 3.5% | 3.4% | 2.6% | 1.9% |
| — | -8.4% | +48.6% | -4.6% | +61.2% | +8.8% | -41.5% | -30.2% | +15.4% | +66.8% | +22.0% | +56.6% | -15.9% | |
| ROA | 7.0% | 2.3% | 1.9% | 1.1% | 2.2% | 2.4% | 1.3% | 1.1% | 1.3% | 2.2% | 2.2% | 1.7% | 1.2% |
| — | -5.7% | +54.9% | +1.1% | +74.3% | +12.8% | -43.9% | -33.3% | +8.2% | +66.9% | +33.6% | +65.8% | -13.8% | |
| ROIC | 9.8% | 3.1% | 2.6% | 1.4% | 2.8% | 3.3% | 1.8% | 1.7% | 2.0% | 2.7% | 3.1% | 2.2% | 2.0% |
| — | -7.6% | +39.9% | -15.1% | +40.9% | +21.7% | -39.9% | -24.3% | -0.2% | +34.9% | +32.5% | +35.3% | +3.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Thermon Group Holdings, Inc.'s Debt/EBITDA ratio is 5.4x, down from 5.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 13.5% YoY to 2.90x, strengthening the short-term liquidity position.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.31 | 0.32 | 0.29 | 0.30 | 0.31 | 0.34 | 0.37 | 0.39 | 0.39 | 0.49 | 0.28 | 0.30 | 0.31 |
| — | -5.9% | -19.5% | -23.1% | -22.4% | -30.3% | +29.2% | +30.5% | +29.0% | +38.7% | -28.3% | -27.4% | -13.7% | |
| Debt / EBITDA | 1.49 | 5.35 | 5.54 | 8.71 | 5.28 | 5.01 | 8.63 | 9.54 | 8.30 | 8.91 | 4.80 | 6.48 | 6.92 |
| — | +6.8% | -35.8% | -8.7% | -36.4% | -43.8% | +79.6% | +47.3% | +20.0% | +15.0% | -35.4% | -36.3% | -12.7% | |
| Current Ratio | 2.43 | 2.90 | 2.82 | 2.43 | 2.43 | 2.56 | 2.80 | 2.61 | 2.51 | 2.22 | 2.29 | 2.32 | 2.28 |
| — | +13.5% | +0.7% | -6.9% | -3.1% | +15.3% | +22.3% | +12.2% | +10.2% | -3.9% | +7.3% | +5.7% | -24.5% | |
| Quick Ratio | 1.64 | 1.84 | 1.74 | 1.49 | 1.64 | 1.71 | 1.85 | 1.73 | 1.72 | 1.53 | 1.50 | 1.48 | 1.53 |
| — | +7.5% | -6.0% | -13.5% | -4.5% | +12.2% | +22.8% | +16.7% | +12.4% | +3.7% | +11.6% | +3.2% | -28.1% | |
| Interest Coverage | 7.72 | 12.33 | 10.67 | 5.98 | 10.74 | 10.92 | 5.45 | 4.82 | 4.70 | 12.23 | 11.26 | 9.73 | 7.92 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Thermon Group Holdings, Inc.'s current P/E is 41.6x. The average P/E over the last 4 quarters is 18.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Thermon Group Holdings, Inc.'s current operating margin is 16.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Thermon Group Holdings, Inc.'s business trajectory between earnings reports.