Thermon Group Holdings, Inc.

Listed Company

THRCIK 0001489096NYSELarge AcceleratedElectrical Industrial ApparatusDelawareFY ends Mar 31

Period

FY 2026

Revenue

$536.26M

Net Income

$44.57M

Total Assets

$830.58M

Equity

$538.71M

Shares Out

32.94M

Op. Cash Flow

$46.80M

Business

Thermon Group Holdings, Inc. provides highly engineered industrial process heating solutions and related services to global process industries. It offers heating products and systems including electric heat tracing cables, boilers, heated blankets, tubing bundles, temporary power solutions, filtration products, controls, monitoring software, engineering, installation, maintenance and turnkey project services. The company reports operations in four reportable geographic segments—United States and Latin America (US-LAM), Canada, Europe, Middle East and Africa (EMEA), and Asia‑Pacific (APAC). Thermon distributes through a global network of sales professionals, independent agents, distributors and multiple manufacturing and distribution facilities serving customers in over 30 countries.

Summary from filing dated 2025-05-22

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Sales	536	498	495
Cost of sales	293	275	283
Gross profit	243	223	212
Operating expenses:	—	—	—
Selling, general and administrative expenses	158	129	124
Deferred compensation plan expense/(income)	599,000	452,000	1
Amortization of intangible assets	13	14	10
Restructuring and other charges/(income)	0	−301,000	984,000
Income from operations	71	80	75
Other income/(expenses):	—	—	—
Interest expense, net	8	10	9
Other income/(expense)	1	687,000	1
Income before provision for income taxes	64	70	68
Income tax expense	20	17	16
Net income	45	54	52
Other comprehensive income:	—	—	—
Net income	45	54	52
Foreign currency translation adjustment	10	−16	836,000
Other	0	−79,000	29,000
Total comprehensive income	55	38	52
Net income per common share:	—	—	—
Basic (in dollars per share)	1.37	1.59	1.53
Diluted (in dollars per share)	1.36	1.57	1.51
Weighted-average shares used in computing net income per common share:	—	—	—
Basic (in shares)	33	34	34
Diluted (in shares)	33	34	34

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31
Assets	—	—
Current assets:	—	—
Cash and cash equivalents	52	40
Accounts receivable, net of allowances of $1,355 and $1,230 as of March 31, 2026 and 2025, respectively	125	110
Inventories, net	118	89
Contract assets	27	19
Prepaid expenses and other current assets	19	17
Income tax receivable	53,000	231,000
Total current assets	341	274
Property, plant and equipment, net of depreciation and amortization of $81,934 and $75,773 as of March 31, 2026 and 2025, respectively	80	73
Goodwill	269	264
Intangible assets, net	104	115
Operating lease right-of-use assets	15	11
Deferred income taxes	1	895,000
Other non-current assets	21	17
Total assets	831	755
Liabilities and equity	—	—
Current liabilities:	—	—
Accounts payable	41	31
Accrued liabilities	50	36
Current portion of long-term debt	8	18
Contract liabilities	19	20
Lease liabilities	5	4
Income taxes payable	4	4
Total current liabilities	127	113
Borrowings under revolving credit facility	20	0
Long-term debt, net of current maturities and deferred debt issuance costs of $503 and $508 as of March 31, 2026 and 2025, respectively	114	120
Deferred income taxes	11	10
Non-current lease liabilities	12	9
Other non-current liabilities	9	8
Total liabilities	292	260
Equity	—	—
Common stock: $.001 par value; 150,000,000 authorized; 34,169,520 issued and 32,866,352 outstanding, and 33,945,413 shares issued and 33,243,370 outstanding at March 31, 2026 and 2025, respectively	33,000	33,000
Preferred stock: $.001 par value; 10,000,000 authorized; no shares issued and outstanding	0	0
Additional paid-in capital	251	246
Treasury stock, common stock, at cost; 1,303,168 and 702,043 shares at March 31, 2026 and 2025, respectively	36	20
Accumulated other comprehensive loss	−63	−73
Retained earnings	387	342
Total equity	539	495
Total liabilities and equity	831	755

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Operating activities	—	—	—
Net income	45	54	52
Adjustment to reconcile net income to net cash provided by operating activities:	—	—	—
Depreciation and amortization	22	22	19
Amortization of debt costs	497,000	486,000	489,000
Stock compensation expense	8	5	6
Deferred income taxes	619,000	−1	−2
Reserve release for uncertain tax positions	0	−1	84,000
Remeasurement (gain)/loss on intercompany balances	−75,000	36,000	−784,000
Changes in operating assets and liabilities:	—	—	—
Accounts receivable	13	4	540,000
Inventories	28	698,000	−4
Contract assets and liabilities	8	7	101,000
Other current and non-current assets	3	9	5
Accounts payable	8	−1	3
Accrued liabilities and non-current liabilities	14	3	−6
Income taxes payable and receivable	−44,000	2	−2
Net cash provided by operating activities	47	63	66
Investing activities	—	—	—
Purchases of property, plant and equipment	14	10	11
Sales of rental equipment	850,000	65,000	99,000
Proceeds from sale of property, plant and equipment	0	6	840,000
Proceeds from disposal of business	0	0	1
Cash paid for acquisitions, net of cash acquired	0	11	100
Net cash used in investing activities	−13	−15	−110
Financing activities	—	—	—
Proceeds from Term Loan A	125	0	100
Payments on Term Loan A	142	29	31
Proceeds from revolving credit facility	37	12	18
Payments on revolving credit facility	17	17	28
Issuance costs associated with debt financing	523,000	0	759,000
Lease financing	59,000	58,000	28,000
Issuance of common stock including exercise of stock options	72,000	632,000	0
Repurchase of employee stock units on vesting	4	3	2
Repurchase of treasury shares under authorized program	16	20	250,000
Net cash provided by/ (used in) financing activities	−17	−56	57
Effect of exchange rate changes on cash and cash equivalents	29,000	−738,000	−1
Change in cash and cash equivalents	16	−9	12
Cash, cash equivalents and restricted cash at end of period	—	—	—
Cash, cash equivalents and restricted cash at end of period	—	—	—
Interest paid	9	10	9
Income taxes paid	18	16	23
Income tax refunds received	189,000	1	3
Purchases of property, plant and equipment in accounts payable	1	311,000	654,000

Filings

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