THRM (THRM) financial statements
THRM reported revenue of $1.5B in fiscal 2025, up 5.6% a year over 9 years.
Net income was $18M and the operating margin 5.5%, against 11.6% in 2016.
Free cash flow was $61M, and the company returned $10M in net buybacks.
The diluted share count fell 15% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from THRM's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $918M | $994M | $1.0B | $972M | $913M | $1.0B | $1.2B | $1.5B | $1.5B | $1.5B |
| Cost of revenue | $623M | $675M | $744M | $683M | $645M | $743M | $931M | $1.1B | $1.1B | $1.1B |
| Gross profit | $295M | $319M | $305M | $288M | $268M | $304M | $274M | $352M | $366M | $362M |
| Research and development | $73M | $82M | $80M | $72M | $68M | $75M | $86M | $94M | $89M | $95M |
| Selling, general and admin | $115M | $140M | $137M | $119M | $105M | $110M | $133M | $156M | $155M | $170M |
| Operating income | $106M | $97M | $73M | $84M | $89M | $115M | $48M | $77M | $107M | $83M |
| Pre-tax income | $111M | $69M | $58M | $59M | $82M | $114M | $38M | $55M | $102M | $36M |
| Income tax | $34M | $34M | $16M | $10M | $22M | $20M | $14M | $15M | $37M | $18M |
| Net income | $77M | $35M | $42M | $49M | $60M | $93M | $24M | $40M | $65M | $18M |
| EPS (diluted) | $2.09 | $0.96 | $1.16 | $1.47 | $1.81 | $2.79 | $0.73 | $1.22 | $2.06 | $0.59 |
| Diluted shares | 37M | 37M | 36M | 33M | 33M | 34M | 34M | 33M | 31M | 31M |
| Gross margin | 32.2% | 32.1% | 29.1% | 29.7% | 29.4% | 29.0% | 22.7% | 23.9% | 25.2% | 24.2% |
| Operating margin | 11.6% | 9.8% | 6.9% | 8.7% | 9.8% | 11.0% | 4.0% | 5.3% | 7.3% | 5.5% |
| Net margin | 8.3% | 3.5% | 4.0% | 5.0% | 6.5% | 8.9% | 2.0% | 2.7% | 4.5% | 1.2% |
Balance sheet
Fiscal years, from THRM's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $177M | $103M | $40M | $50M | $268M | $191M | $154M | $150M | $134M | $161M |
| Receivables | $170M | $185M | $167M | $160M | $212M | $183M | $247M | $254M | $258M | $281M |
| Inventory | $105M | $121M | $113M | $118M | $122M | $159M | $218M | $206M | $227M | $253M |
| Total current assets | $484M | $461M | $443M | $374M | $644M | $566M | $684M | $688M | $684M | $777M |
| Property, plant and equipment | $172M | $200M | $171M | $161M | $153M | $155M | $244M | $245M | $253M | $271M |
| Goodwill | $52M | $70M | $55M | $65M | $68M | $66M | $120M | $104M | $100M | $109M |
| Total assets | $843M | $883M | $803M | $739M | $1.0B | $935M | $1.2B | $1.2B | $1.2B | $1.4B |
| Total current liabilities | $194M | $171M | $175M | $157M | $206M | $213M | $286M | $325M | $340M | $404M |
| Long-term debt | $169M | $141M | $136M | $78M | $190M | $36M | $233M | $222M | $220M | $189M |
| Total liabilities | $383M | $330M | $323M | $255M | $437M | $282M | $567M | $590M | $631M | $676M |
| Shareholders' equity | $460M | $554M | $480M | $484M | $586M | $654M | $672M | $645M | $617M | $720M |
| Net debt | -$6M | $41M | $100M | $30M | -$76M | -$152M | $81M | $73M | $86M | $28M |
Cash flow
Fiscal years, from THRM's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $108M | $50M | $118M | $119M | $111M | $143M | $15M | $119M | $110M | $117M |
| Capital spending | $66M | $51M | $42M | $24M | $17M | $38M | $40M | $38M | $73M | $56M |
| Free cash flow | $42M | -$905,000 | $77M | $95M | $93M | $105M | -$25M | $82M | $36M | $61M |
| Stock-based compensation | $9M | $13M | $9M | $6M | $9M | $15M | $7M | $12M | $10M | $12M |
| Share buybacks (net) | — | -$5M | -$148M | -$63M | -$9M | -$20M | — | -$91M | -$52M | -$10M |
| Net borrowing | $73M | -$27M | -$5M | -$59M | $110M | -$153M | $194M | -$12M | -$3M | -$31M |
| Free cash flow margin | 4.6% | -0.1% | 7.3% | 9.8% | 10.2% | 10.0% | -2.1% | 5.6% | 2.5% | 4.1% |
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Open THRM in InvestinglyQuestions
What was THRM's revenue in 2025?
$1.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does THRM generate?
$61M in fiscal 2025 (operating cash flow minus capital spending).
From THRM's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.