Thermon Group Holdings Inc (THR) financial statements: income statement, balance sheet and cash flow
Thermon Group Holdings Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Mar 31, 2026 · FY), Thermon Group Holdings Inc reported revenue of $536.3M (+7.6% year on year) and net income of $44.6M (-16.7% year on year).
Income statement
Thermon Group Holdings Inc income statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Sales
$536.3M
$498.2M
$494.6M
$440.6M
Cost of sales
$293.2M
$275.3M
$283.1M
$255.5M
Gross profit
$243.1M
$222.9M
$211.6M
$185.1M
Selling, general and administrative expenses
$158.3M
$129.3M
$123.8M
$117.0M
Deferred compensation plan expense/(income)
$599.0K
$452.0K
$1.2M
($208.0K)
Amortization of intangible assets
$13.4M
$13.7M
$10.2M
$9.4M
Restructuring and other charges/(income)
$0
($301.0K)
$984.0K
$3.7M
Income from operations
$70.7M
$79.8M
$75.4M
$55.2M
Interest expense, net
($8.0M)
($10.3M)
($8.8M)
($5.9M)
Other income/(expense)
$1.5M
$687.0K
$1.1M
($86.0K)
Income before provision for income taxes
$64.2M
$70.1M
$67.7M
$49.2M
Income tax expense
$19.7M
$16.6M
$16.1M
$15.6M
Net income
$44.6M
$53.5M
$51.6M
$33.7M
Foreign currency translation adjustment
$10.0M
($15.5M)
$836.0K
($19.2M)
Other
$0
($79.0K)
$29.0K
$8.0K
Total comprehensive income
$54.6M
$37.9M
$52.5M
$14.5M
Basic (in dollars per share)
$1.37
$1.59
$1.53
$1.01
Diluted (in dollars per share)
$1.36
$1.57
$1.51
$1.00
Basic (in shares)
32.5M
33.7M
33.7M
33.5M
Diluted (in shares)
32.8M
34.1M
34.1M
33.7M
Thermon Group Holdings Inc income statement, quarters
Line item
Dec 31, 2025 · Q3
Sep 30, 2025 · Q2
Jun 30, 2025 · Q1
Dec 31, 2024 · Q3
Sales
$147.3M
$131.7M
$108.9M
$134.4M
Cost of sales
$78.7M
$70.6M
$60.9M
$72.2M
Gross profit
$68.7M
$61.1M
$48.0M
$62.1M
Selling, general and administrative expenses
$38.3M
$35.5M
$32.2M
$34.1M
Deferred compensation plan expense/(income)
$213.0K
$486.0K
$655.0K
($122.0K)
Amortization of intangible assets
$3.5M
$3.5M
$3.5M
$3.5M
Restructuring and other charges/(income)
$0
$0
$0
($3.0M)
Income from operations
$26.7M
$21.6M
$11.7M
$27.7M
Interest expense, net
($2.2M)
($2.0M)
($2.0M)
($2.5M)
Other income/(expense)
$132.0K
$456.0K
$1.2M
($126.0K)
Income before provision for income taxes
$24.6M
$20.0M
$11.0M
$25.0M
Income tax expense
$6.3M
$5.1M
$2.4M
$6.5M
Net income
$18.3M
$15.0M
$8.6M
$18.5M
Foreign currency translation adjustment
$3.4M
($5.0M)
$17.0M
($20.0M)
Other miscellaneous income/(expense)
$0
$0
$0
$116.0K
Comprehensive income/(loss)
$21.7M
$10.0M
$25.6M
($1.3M)
Basic (in dollars per share)
$0.56
$0.45
$0.26
$0.55
Diluted (in dollars per share)
$0.55
$0.45
$0.26
$0.54
Basic (in shares)
32.8M
33.0M
33.1M
33.7M
Diluted (in shares)
33.2M
33.2M
33.3M
34.1M
Balance sheet
Thermon Group Holdings Inc balance sheet, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Cash and cash equivalents
$52.3M
$39.5M
$48.6M
$35.6M
Accounts receivable, net of allowances of $1,355 and $1,230 as of March 31, 2026 and 2025, respectively
$125.4M
$109.8M
$107.3M
$97.6M
Inventories, net
$118.1M
$89.0M
$86.3M
$82.1M
Contract assets
$26.7M
$19.2M
$16.7M
$16.3M
Prepaid expenses and other current assets
$18.6M
$16.5M
$14.0M
$16.1M
Income tax receivable
$53.0K
$231.0K
$1.6M
$3.1M
Total current assets
$341.2M
$274.3M
$274.6M
$250.9M
Property, plant and equipment, net of depreciation and amortization of $81,934 and $75,773 as of March 31, 2026 and 2025, respectively
$79.7M
$72.8M
$68.3M
—
Goodwill
$269.0M
$264.3M
$270.8M
$219.6M
Intangible assets, net
$103.7M
$115.3M
$127.1M
$94.0M
Operating lease right-of-use assets
$14.8M
$11.2M
$13.6M
$13.6M
Deferred income taxes
$1.1M
$895.0K
$1.1M
$688.0K
Other non-current assets
$21.0M
$16.6M
$12.2M
$7.6M
Total assets
$830.6M
$755.5M
$767.7M
$649.6M
Accounts payable
$41.1M
$31.2M
$31.4M
$27.3M
Accrued liabilities
$49.8M
$35.8M
$31.6M
$39.4M
Current portion of long-term debt
$7.8M
$18.0M
$14.6M
$10.2M
Contract liabilities
$19.5M
$19.6M
$20.5M
$8.5M
Lease liabilities
$4.7M
$4.0M
$3.3M
$3.4M
Income taxes payable
$4.0M
$4.1M
$2.8M
$6.8M
Total current liabilities
$126.8M
$112.7M
$109.3M
$110.1M
Borrowings under revolving credit facility
$19.7M
$0
$5.0M
$14.5M
Long-term debt, net of current maturities and deferred debt issuance costs of $503 and $508 as of March 31, 2026 and 2025, respectively
$113.6M
$120.4M
$152.0M
—
Deferred income taxes
$10.9M
$9.8M
$9.4M
$12.1M
Non-current lease liabilities
$12.1M
$9.3M
$12.6M
$12.5M
Other non-current liabilities
$8.8M
$8.1M
$9.6M
$8.3M
Total liabilities
$291.9M
$260.1M
$292.9M
$230.6M
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
33.0K
33.0K
34.0K
33.0K
Preferred stock: $.001 par value; 10,000,000 authorized; no shares issued and outstanding
0
0
0
0
Additional paid-in capital
$250.8M
$246.2M
$243.6M
$239.9M
Treasury stock, common stock, at cost; 1,303,168 and 702,043 shares at March 31, 2026 and 2025, respectively
-36.2M
-20.4M
-250.0K
—
Accumulated other comprehensive loss
($62.8M)
($72.8M)
($57.2M)
($58.1M)
Retained earnings
$386.9M
$342.3M
$288.8M
$237.2M
Total equity
$538.7M
$495.3M
$474.9M
$419.0M
Total liabilities and equity
$830.6M
$755.5M
$767.7M
$649.6M
Thermon Group Holdings Inc balance sheet, quarters
Line item
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Dec 31, 2024
Cash and cash equivalents
$46.9M
$29.7M
$36.5M
$38.7M
Accounts receivable, net of allowances of $1,082 and $1,230 as of December 31, 2025 and March 31, 2025, respectively
$111.9M
$102.1M
$100.7M
$114.6M
Inventories, net
$117.0M
$111.0M
$104.9M
$92.3M
Contract assets
$25.1M
$25.2M
$16.4M
$16.1M
Prepaid expenses and other current assets
$19.8M
$20.6M
$14.1M
$18.0M
Income tax receivable
$0
$147.0K
$165.0K
$501.0K
Total current assets
$320.6M
$288.9M
$272.9M
$280.2M
Property, plant and equipment, net of depreciation and amortization of $80,648 and $75,773 as of December 31, 2025 and March 31, 2025, respectively
$79.5M
$76.5M
$75.7M
$71.1M
Goodwill
$271.4M
$269.8M
$271.8M
$263.5M
Intangible assets, net
$107.4M
$110.5M
$114.6M
$118.1M
Operating lease right-of-use assets
$15.6M
$10.4M
$10.5M
$11.9M
Deferred income taxes
$1.7M
$1.3M
$878.0K
$2.2M
Other non-current assets
$20.5M
$20.9M
$19.0M
$16.3M
Total assets
$816.7M
$778.2M
$765.3M
$763.4M
Accounts payable
$38.9M
$41.3M
$33.3M
$29.7M
Accrued liabilities
$34.4M
$32.1M
$31.0M
$32.5M
Current portion of long-term debt
$7.0M
$6.3M
$18.0M
$18.0M
Contract liabilities
$19.2M
$16.9M
$19.3M
$20.6M
Lease liabilities
$4.7M
$3.8M
$3.7M
$3.6M
Income taxes payable
$6.4M
$2.1M
$2.1M
$5.4M
Total current liabilities
$110.6M
$102.5M
$112.5M
$109.7M
Borrowings under revolving credit facility
$19.7M
$14.7M
$5.0M
$0
Long-term debt, net
$115.8M
$118.1M
$116.0M
$134.8M
Deferred income taxes
$9.3M
$9.6M
$9.9M
$9.6M
Non-current lease liabilities
$13.0M
$8.8M
$8.8M
$10.6M
Other non-current liabilities
$9.6M
$9.4M
$8.9M
$10.1M
Total liabilities
$278.0M
$263.0M
$256.0M
$274.7M
Common stock: $0.001 par value; 150,000,000 shares authorized; 34,148,233 issued and 32,845,065 outstanding at December 31, 2025, and 33,945,413 issued and 33,243,370 outstanding at March 31, 2025
33.0K
33.0K
33.0K
34.0K
Preferred stock: $0.001 par value; 10,000,000 authorized; no shares issued and outstanding
0
0
0
0
Additional paid in capital
$248.1M
$246.3M
$244.3M
$245.2M
Treasury stock
($36.2M)
($36.2M)
($30.2M)
($6.4M)
Accumulated other comprehensive loss
($57.4M)
($60.8M)
($55.8M)
($75.4M)
Retained earnings
$384.1M
$365.8M
$350.9M
$325.3M
Total equity
$538.7M
$515.2M
$509.3M
$488.7M
Total liabilities and equity
$816.7M
$778.2M
$765.3M
$763.4M
Cash flow statement
Thermon Group Holdings Inc cash flow statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Net income
$44.6M
$53.5M
$51.6M
—
Depreciation and amortization
$22.5M
$22.3M
$18.8M
$19.2M
Amortization of debt costs
$497.0K
$486.0K
$489.0K
$317.0K
Stock compensation expense
$8.2M
$5.2M
$5.8M
$6.0M
Deferred income taxes
$619.0K
($1.1M)
($2.1M)
($4.6M)
Reserve release for uncertain tax positions
$0
($1.0M)
$84.0K
$36.0K
Remeasurement (gain)/loss on intercompany balances
($75.0K)
$36.0K
($784.0K)
($914.0K)
Accounts receivable
($13.2M)
($4.2M)
($540.0K)
($2.9M)
Inventories
($28.0M)
($698.0K)
$3.8M
($8.8M)
Contract assets and liabilities
($7.7M)
($6.7M)
($101.0K)
—
Other current and non-current assets
($3.1M)
($9.4M)
($4.9M)
$57.0K
Accounts payable
$8.5M
($1.2M)
$2.7M
($7.1M)
Accrued liabilities and non-current liabilities
$14.1M
$3.4M
($6.4M)
$11.1M
Income taxes payable and receivable
($44.0K)
$2.3M
($2.5M)
$7.3M
Net cash provided by operating activities
$46.8M
$63.1M
$66.0M
$57.7M
Purchases of property, plant and equipment
($13.9M)
($10.2M)
($11.0M)
($9.5M)
Sales of rental equipment
$850.0K
$65.0K
$99.0K
$197.0K
Proceeds from sale of property, plant and equipment
$0
$5.8M
$840.0K
—
Proceeds from disposal of business
$0
$0
$1.0M
—
Cash paid for acquisitions, net of cash acquired
$0
($10.5M)
($100.5M)
($35.3M)
Net cash used in investing activities
($13.1M)
($15.0M)
($109.5M)
($44.6M)
Proceeds from Term Loan A
$125.0M
$0
$100.0M
$0
Payments on Term Loan A
($142.0M)
($28.6M)
($30.9M)
($27.2M)
Proceeds from revolving credit facility
$36.7M
$12.0M
$18.0M
$34.5M
Payments on revolving credit facility
($17.0M)
($17.0M)
($27.5M)
($20.0M)
Issuance costs associated with debt financing
($523.0K)
$0
($759.0K)
$0
Lease financing
($59.0K)
($58.0K)
($28.0K)
($142.0K)
Issuance of common stock including exercise of stock options
$72.0K
$632.0K
$0
$0
Repurchase of employee stock units on vesting
($3.7M)
($3.2M)
($2.1M)
($643.0K)
Repurchase of treasury shares under authorized program
-15.8M
-20.1M
-250.0K
—
Net cash provided by/ (used in) financing activities
($17.3M)
($56.4M)
$56.5M
($13.5M)
Effect of exchange rate changes on cash and cash equivalents
$29.0K
($738.0K)
($1.1M)
($1.2M)
Change in cash and cash equivalents
$16.4M
($9.0M)
$11.9M
($5.4M)
Cash, cash equivalents and restricted cash at beginning of period
$41.4M
$50.4M
$38.5M
$43.9M
Cash, cash equivalents and restricted cash at end of period
$57.8M
$41.4M
$50.4M
$38.5M
Interest paid
$8.5M
$10.4M
$9.2M
$5.8M
Income taxes paid
$18.2M
$16.5M
$23.1M
$14.9M
Income tax refunds received
$189.0K
$1.5M
$2.8M
$2.4M
Purchases of property, plant and equipment in accounts payable
$1.3M
$311.0K
$654.0K
$324.0K
Thermon Group Holdings Inc cash flow statement, quarters
Line item
Dec 31, 2025 · YTD
Sep 30, 2025 · YTD
Jun 30, 2025 · Q1
Dec 31, 2024 · YTD
Net income
$41.8M
$23.5M
$8.6M
$36.5M
Depreciation and amortization
$17.2M
$11.5M
$5.7M
$16.8M
Amortization of deferred debt issuance costs
$342.0K
$245.0K
$112.0K
$369.0K
Stock compensation expense
$5.2M
$3.4M
$1.5M
$4.0M
Deferred income taxes
($1.9M)
($1.2M)
($433.0K)
($2.3M)
Remeasurement (gain)/loss on intercompany balances
($386.0K)
($325.0K)
($1.2M)
$937.0K
Accounts receivable
$1.6M
$10.7M
$12.4M
($9.7M)
Inventories
($25.9M)
($20.5M)
($13.5M)
($4.5M)
Contract assets and liabilities
($6.3M)
($9.0M)
$2.6M
($2.1M)
Other current and non-current assets
($3.2M)
($4.2M)
$718.0K
($10.4M)
Accounts payable
$6.1M
$9.1M
$1.0M
($2.4M)
Accrued liabilities and non-current liabilities
($647.0K)
($3.1M)
($4.9M)
$261.0K
Income taxes payable and receivable
$2.4M
($2.1M)
($1.9M)
$3.6M
Net cash provided by operating activities
$36.1M
$18.2M
$10.7M
$31.1M
Purchases of property, plant and equipment
($10.4M)
($5.5M)
($2.4M)
($7.2M)
Sale of property, plant and equipment
$22.0K
—
—
$5.8M
Sale of rental equipment
$507.0K
$81.0K
$69.0K
$63.0K
Cash paid for acquisitions, net of cash acquired
$0
—
—
($10.0M)
Net cash used in investing activities
($9.9M)
($5.4M)
($2.4M)
($11.3M)
Proceeds from revolving credit facility
$36.7M
$31.7M
$13.0M
$5.0M
Payments on revolving credit facility
($17.0M)
($17.0M)
($8.0M)
($10.0M)
Proceeds from long-term debt
$125.0M
$125.0M
—
$0
Payments on long-term debt
($140.4M)
($138.9M)
($4.5M)
($14.1M)
Issuance costs associated with revolving line of credit and long-term debt
($628.0K)
($1.1M)
—
$0
Proceeds from option exercises
$0
—
—
$632.0K
Repurchase of employee stock units on vesting
($3.4M)
($3.4M)
($3.3M)
($3.0M)
Repurchase of shares under authorized program
-15.8M
-15.8M
-9.8M
-6.2M
Payments on finance leases
($182.0K)
($95.0K)
($37.0K)
($118.0K)
Net cash used in financing activities
($15.7M)
($19.5M)
($12.6M)
($27.8M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
$621.0K
$779.0K
$1.5M
($1.8M)
Change in cash, cash equivalents and restricted cash
$11.2M
($5.9M)
($2.7M)
($9.9M)
Cash, cash equivalents and restricted cash at beginning of period
$41.4M
$41.4M
$41.4M
$50.4M
Cash, cash equivalents and restricted cash at end of period