Gentherm Inc

Listed Company

THRMCIK 0000903129NasdaqLarge AcceleratedMotor Vehicle Parts & AccessoriesMichiganFY ends Dec 31

Period

FY 2025

Revenue

$1.50B

Net Income

$18.29M

Total Assets

$1.40B

Equity

$720.32M

Shares Out

30.67M

Op. Cash Flow

$116.79M

Business

Gentherm Inc is a global developer and manufacturer of thermal management and pneumatic comfort technologies for the automotive industry and patient temperature management systems for healthcare. Its main products include Climate Control Seats®, heated interior systems, thermoelectric devices, battery performance and cable solutions, pneumatic lumbar and massage systems, valve technologies, electronic control units, and a portfolio of patient temperature management devices. The company reports two principal segments—Automotive and Medical—covering vehicle comfort, battery and valve systems and clinical temperature management. Gentherm sells primarily to automotive OEMs and Tier 1 suppliers, aftermarket distributors, and healthcare providers across North America, Europe, Asia and other global markets, with products used in hospitals in the U.S., China, Germany and Brazil.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Product revenues	1,499	1,456	1,469	1,205	1,046
Cost of sales	1,136	1,090	1,117	931	743
Gross margin	362	366	352	274	304
Net research and development expenses	95	89	94	86	75
Selling, general and administrative expenses	170	155	156	133	110
Restructuring expenses, net	12	13	5	637,000	4
Loss on sale of land and building, net	2	—	—	—	—
Impairment of intangible assets and property and equipment	—	3	—	6	—
Impairment of goodwill	—	—	20	—	—
Total operating expenses	279	259	274	225	189
Operating income	83	107	77	48	115
Interest expense, net	−14	−15	−15	−4	−3
Foreign currency (loss) gain	−28	10	−6	−7	1
Other (loss) income	−5	951,000	−2	1	117,000
Earnings before income tax	36	102	55	38	114
Income tax expense	18	37	15	14	20
Net income	18	65	40	24	93
Basic earnings per share	0.6	2.08	1.23	0.74	2.82
Diluted earnings per share	0.59	2.06	1.22	0.73	2.79
Weighted average number of shares basic	31	31	33	33	33
Weighted average number of shares diluted	31	31	33	34	34

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	161	134	150	154	191
Accounts receivable, net	281	258	254	247	183
Inventory, net	253	227	206	218	159
Other current assets	82	64	78	65	33
Total current assets	777	684	688	684	566
Property and equipment, net	271	253	245	244	155
Goodwill	109	100	104	120	66
Other intangible assets, net	53	57	66	74	38
Operating lease right-of-use assets	57	44	27	30	24
Deferred income tax assets	94	75	82	70	70
Other non-current assets	37	35	22	17	17
Total assets	1,396	1,248	1,234	1,239	935
Accounts payable	260	227	216	182	123
Current lease liabilities	10	8	8	7	6
Current maturities of long-term debt	73,000	137,000	621,000	2	3
Other current liabilities	134	106	101	94	82
Total current liabilities	404	340	325	286	213
Long-term debt, less current maturities	189	220	222	233	36
Non-current lease liabilities	48	37	16	21	20
Pension benefit obligation	4	4	3	4	7
Other non-current liabilities	31	29	23	25	6
Total liabilities	676	631	590	567	282
No par value, 55,000,000 shares authorized 30,526,231 and 30,788,639 issued and outstanding at December 31, 2025 and December 31, 2024, respectively	6	2	51	123	119
Paid-in capital	2	4	—	5	6
Accumulated other comprehensive loss	−964,000	−85	−30	−46	−37
Accumulated earnings	714	696	624	591	566
Total shareholders equity	720	617	645	672	654
Total liabilities and shareholders equity	1,396	1,248	1,234	1,239	935

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	53	53	51	44	39
Deferred income taxes	−22	11	−13	−7	−150,000
Stock based compensation	12	10	12	7	15
Provisions for inventory	7	6	7	16	2
Loss (gain) on disposition of property and equipment	3	−2	721,000	771,000	973,000
Other non-cash items, including unrealized foreign currency loss (gain)	35	−1	3	721,000	−271,000
Accounts receivable, net	−9	−12	−4	−44	25
Inventory	−22	−34	7	−40	−42
Other assets	−18	−45	−26	−12	10
Accounts payable	28	16	31	28	8
Other liabilities	32	39	−8	−9	−8
Net cash provided by operating activities	117	110	119	15	143
Purchases of property and equipment	−56	−73	−38	−40	−38
Proceeds from the sale of property and equipment	4	8	391,000	248,000	22,000
Proceeds from deferred purchase price of factored receivables	745,000	13	14	6	—
Cost of technology investments	−1	−955,000	−815,000	−495,000	−8
Net cash used in investing activities	−52	−54	−24	−240	−49
Borrowings on debt	112	68	60	207	—
Repayments of debt	−143	−71	−72	−13	−153
Proceeds from the exercise of Common Stock options	—	6	263,000	2	8
Taxes withheld and paid on employees' share-based payment awards	−1	−3	−3	−5	−4
Cash paid for the repurchase of Common Stock	−10	−52	−91	—	−20
Net cash used in financing activities	−42	−52	−106	190	−169
Foreign currency effect	5	−20	7	−2	−3
Net cash increase (decrease) in cash and cash equivalents	27	−16	−4	−37	−78
Cash paid for taxes	37	21	23	22	15
Cash paid for interest	13	13	13	6	2
Period-end balance of accounts payable for property and equipment	6	5	8	3	2
Deferred purchase price of receivables factored in the period	—	9	14	4	—

Filings

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