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Thermon Group Holdings, Inc.(THR)Earnings, Financials & Key Ratios
THR•NYSE
$61.14
45.6× P/E·Price updated Jul 2, 2026
AboutThermon Group Holdings, Inc. provides engineered industrial process heating solutions for process industries worldwide. Its products include electric heating products, such as air heaters and heating accessories, boilers and calorifiers, controlling and monitoring solutions, heat tracing systems, tank heating systems, thermostats, tubing bundles, and system accessories, as well as strip, tubular, immersion, and process heaters; and gas heating products, including enclosure and explosion proof gas catalytic heaters, gas fired blowers, and gas heating accessories that comprise regulators, valves, mounting brackets, and battery cables. The company also offers specialty products, which include CEMS and analytical systems, commercial construction products and services, control panels, engineered products, compressed gas scrubbing systems, temporary power solutions, and snow clearing devices for rail track and switch equipment; and steam heating solutions comprising heat transfer compounds, steam heated bundles, steam supply and condensate return lines, steam tracing solutions, steam trace accessories, and tank heating products. In addition, it provides design engineering solutions that include design optimization studies, product selection assistance, and computer-generated drawing packages; energy audit services; procurement and project management services; procurement and project management services; turnkey construction installation; recurring facility assessment or audit; maintenance services; and technical support services. The company offers its solutions to chemical and petrochemical, oil and gas, power generation, rail and transit, commercial, transportation, food and beverage, pharmaceutical, and mineral processing industries, as well as data centers, semiconductor facilities, and other markets through a network of sales and service professionals, and distributors. Thermon Group Holdings, Inc. was founded in 1954 and is headquartered in Austin, Texas.Show more
- Revenue$536M+7.6%
- EBITDA$88M-13.9%
- Net Income$45M-16.7%
- EPS (Diluted)1.34-14.6%
- Gross Margin45.32%+1.3%
- EBITDA Margin16.39%-20.0%
- Operating Margin13.19%-17.6%
- Net Margin8.31%-22.6%
- ROE8.62%-21.9%
THR Price & Volume
Thermon Group Holdings, Inc. (THR) stock price & volume — 10-year historical chart
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Cyclical Revenue Volatility Masks Underlying Margin Resilience
Investment Thesis • Updated 2026Q4
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Cyclical project revenue volatility
Key Thesis Takeaways
- Thermon Group Holdings demonstrates a specialized market position in industrial heat tracing, though its financial performance remains heavily tethered to the timing of large-scale capital expenditure cycles.
- While the company has successfully reduced its debt-to-equity ratio to 0.29 as of 2026Q4, investors should remain cautious regarding the significant quarterly variance in operating margins, which swung from 7.3% to 20.6% over the last ten quarters.
- Future growth hinges on management's ability to stabilize cash conversion efficiency and mitigate the impact of lumpy project-based revenue streams on core earnings.
Verdict Logic
while the company has successfully deleveraged to a 0.29 debt-to-equity ratio, the extreme volatility in free cash flow margins—ranging from 3.3% to 26.8%—warrants a cautious approach until earnings quality stabilizes.
THR Growth Metrics
Thermon Group Holdings, Inc. (THR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years6.64%
5 Years14.19%
3 Years6.77%
TTM7.64%
Profit CAGR
10 Years6.84%
5 Years119.39%
3 Years9.8%
TTM-16.71%
EPS CAGR
10 Years6.56%
5 Years119.5%
3 Years10.25%
TTM-14.65%
Return on Capital
10 Years6.37%
5 Years10.46%
3 Years11.78%
Last Year10.51%
THR Recent Earnings
Thermon Group Holdings, Inc. (THR) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
May 19, 2026Metric
Actual
Est
EPS
$0.55-1.8%
$0.56
Rev
$148M+7.6%
$138M
Q1 2026
Feb 5, 2026Metric
Actual
Est
EPS
$0.66+11.9%
$0.59
Rev
$147M+6.5%
$138M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.55+52.8%
$0.36
Rev
$132M-5.1%
$139M
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.36-2.7%
$0.37
Rev
$109M-11.0%
$122M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 19, 2026 | $0.55vs $0.56-1.8% | $148Mvs $138M+7.6% |
| Q1 2026 | Feb 5, 2026 | $0.66vs $0.59+11.9% | $147Mvs $138M+6.5% |
| Q4 2025 | Nov 6, 2025 | $0.55vs $0.36+52.8% | $132Mvs $139M-5.1% |
| Q3 2025 | Aug 7, 2025 | $0.36vs $0.37-2.7% | $109Mvs $122M-11.0% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Thermon Group Holdings, Inc. (THR)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $61.14 | $2.01B | 45.63 | 7.64% | 8.31% | 8.62% | — | |
| $107.41 | $4.18B | 18.17 | 10.33% | 8.49% | 18.84% | — | |
| $32.43 | $4.91B | -8.60 | 10.52% | -6.5% | -17.64% | — | |
| $46.23 | $2.71B | 12.49 | 34.75% | 19% | 10.75% | — | |
| $195.98 | $7.16B | 25.45 | 3.7% | 7.82% | 15.57% | — | |
| $1.67 | $76.06M | -4.18 | 69.76% | -13.44% | -314.53% | — |
Compare THR vs Peers
Thermon Group Holdings, Inc. (THR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
THR SEC Filings & Documents
Thermon Group Holdings, Inc. (THR) SEC filings — annual & quarterly reports (10-K, 10-Q)
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THR Frequently Asked Questions
Thermon Group Holdings, Inc. (THR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Thermon Group Holdings, Inc.'s revenue?
Thermon Group Holdings, Inc. (THR) reported $536.3M in revenue for fiscal year 2026. This represents a 164% increase from $202.8M in 2009.
How fast is Thermon Group Holdings, Inc. growing?
Thermon Group Holdings, Inc. (THR) grew revenue by 7.6% over the past year. This is steady growth.
Is THR profitable?
Yes, Thermon Group Holdings, Inc. (THR) is profitable, generating $44.6M in net income for fiscal year 2026 (8.3% net margin).
Dividend & Returns
What is THR's return on equity?
Thermon Group Holdings, Inc. (THR) has a return on equity (ROE) of 8.6%. This is below average, suggesting room for improvement.
What is Thermon Group Holdings, Inc.'s free cash flow?
Thermon Group Holdings, Inc. (THR) generated $32.9M in free cash flow for fiscal year 2026. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.