Gentherm Incorporated
- Open
- 35.73
- Day high
- 36.05
- Day low
- 34.98
- Prev close
- 35.94
- Volume
- 277K
- Mkt cap
- $1.1B
- P/E (TTM)
- 47.8
- EPS (TTM)
- $0.74
- P/B
- 1.5
- P/S
- 0.7
- Yield
- —
- Per share
- —
Gentherm Incorporated (THRM) is a Consumer Cyclical company listed on NASDAQ. The stock is up 13% over the past year.
Gentherm Incorporated (THRM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
THRM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.53 | $0.84 | +58.5% | $394M | +8.7% |
| Feb 19, 2026 | $0.57 | $0.49 | -14.0% | $383M | +5.5% |
| Oct 23, 2025 | $0.66 | $0.73 | +11.5% | $383M | +2.2% |
| Jul 24, 2025 | $0.59 | $0.54 | -8.5% | $375M | +0.6% |
| Apr 24, 2025 | $0.48 | $0.51 | +6.3% | $354M | -2.9% |
| Feb 19, 2025 | $0.67 | $0.29 | -56.7% | $353M | -3.1% |
| Oct 30, 2024 | $0.66 | $0.75 | +13.6% | $372M | +3.6% |
| Jul 31, 2024 | $0.61 | $0.66 | +8.2% | $376M | +0.4% |
| Apr 30, 2024 | $0.43 | $0.62 | +44.2% | $356M | -4.8% |
| Feb 21, 2024 | $0.54 | $0.90 | +66.7% | $367M | +2.4% |
| Oct 26, 2023 | $0.68 | $0.64 | -5.9% | $366M | -4.3% |
| Aug 1, 2023 | $0.54 | $0.58 | +7.4% | $372M | +1.0% |
THRM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 15, 2026 | Stacey Johndirector | Grant | 4,292 | — |
| May 15, 2026 | Desormiere Sophiedirector | Grant | 4,292 | — |
| May 15, 2026 | Hundzinski Ronald Tdirector | Grant | 4,292 | — |
| May 15, 2026 | Washington Kenneth Edirector | Grant | 4,292 | — |
| May 15, 2026 | Heinzmann David Wdirector | Grant | 4,292 | — |
| May 15, 2026 | Meter Elizabethdirector | Grant | 4,292 | — |
| May 15, 2026 | Kummeth Charles R.director | Grant | 4,292 | — |
| May 15, 2026 | Kowalchik Laura Micheledirector | Grant | 4,292 | — |
| Mar 25, 2026 | Barkas Rafaelofficer: SVP Global Ops & Supply Chain | Tax | 607 | $28.64 |
| Mar 25, 2026 | Wang Chenglongofficer: VP & General Manager | Grant | 266 | — |
| Mar 25, 2026 | Stocker Thomasofficer: President, Gentherm Tech. | Tax | 1,115 | $28.64 |
| Mar 25, 2026 | Runyon Barbara Jofficer: SVP, CHRO | Tax | 961 | $28.64 |
| Mar 25, 2026 | Runyon Barbara Jofficer: SVP, CHRO | Grant | 2,121 | — |
| Mar 25, 2026 | Wilson Jaymiofficer: SVP, Chief Strategy Officer | Tax | 710 | $28.64 |
| Mar 25, 2026 | Nicholas Breisacherofficer: Chief Accounting Officer | Grant | 353 | — |
Source: THRM SEC Form 4 filings, latest May 15, 2026. For informational purposes only — not investment advice.
See the full THRM insider & 13F page →Gentherm Incorporated company profile
Overview
Gentherm Incorporated (NASDAQ:THRM) is a Michigan-based thermal management technology company founded in 1991 and publicly traded since 1993. Originally known as Amerigon Incorporated until 2012, the company has evolved from a specialized automotive component manufacturer into a diversified thermal solutions provider serving both automotive and medical markets. Gentherm designs, develops, manufactures, and markets advanced thermal management technologies, with a particular focus on climate comfort systems for vehicles and patient temperature management systems for healthcare applications.
Business
Gentherm operates in the thermal management technology industry, developing products that control temperature for human comfort and safety. The company's core expertise lies in creating systems that can heat, cool, and regulate temperature through various technologies including thermoelectric devices, pneumatic systems, and electronic controls. The company operates through two primary business segments. The Automotive segment represents approximately 95% of total revenue and focuses on climate comfort solutions for vehicles. This includes heated and cooled seats, steering wheel heaters, lumbar and massage systems, and advanced climate control technologies. Key products include ClimateSense (personalized thermal comfort software), ComfortScale (integrated thermal and pneumatic systems), and Pulse A massage technology. The automotive division also develops battery thermal management solutions for electric vehicles, helping optimize battery performance and longevity. The Medical segment accounts for roughly 5% of revenue and provides patient temperature management systems for hospitals and healthcare facilities. These systems help medical professionals maintain optimal patient body temperature during surgical procedures and recovery, which is critical for patient outcomes and safety. The medical business leverages similar thermal management technologies used in automotive applications but adapted for healthcare environments. Gentherm's products are built around four core technology platforms: thermal management (heating and cooling), air moving devices (fans and blowers), pneumatic solutions (massage and lumbar support), and valve systems (fluid and air control). This technology platform approach allows the company to scale innovations across multiple applications and markets.
Competitive moat
Gentherm's competitive moat is moderately strong, built primarily on technological differentiation and customer relationships rather than traditional economic moats. The company's primary competitive advantages include its specialized expertise in thermal management technologies, particularly thermoelectric devices and integrated climate control systems that competitors find difficult to replicate. Gentherm has developed proprietary software platforms like ClimateSense and integrated solutions like ComfortScale that create switching costs for automotive OEMs once designed into vehicle platforms. The company benefits from long-term program awards (5-7 years) that provide revenue visibility and make customer switching costly due to the extensive engineering integration required. Gentherm's global manufacturing footprint and established relationships with major automotive OEMs create barriers for new entrants, as automakers prefer working with proven suppliers who can deliver at scale across multiple regions. However, the moat faces several challenges. The automotive supplier industry is highly competitive with pressure from both traditional competitors and new entrants, particularly as the industry transitions to electric vehicles. Potential disruption could come from automotive OEMs developing thermal management capabilities in-house, technology companies entering the automotive space with software-based solutions, or Chinese suppliers offering lower-cost alternatives in key growth markets. The company's dependence on automotive industry cycles and specific OEM relationships also creates vulnerability. If major customers reduce production or switch suppliers, Gentherm's revenue can be significantly impacted. The medical segment, while growing, remains small and faces competition from established medical device companies with stronger healthcare market presence and distribution networks.
Risks & safety
Gentherm presents a moderate margin of safety with mixed financial health indicators. • Liquidity and Solvency: Strong current ratio of 2.16x and quick ratio of 1.49x indicate solid short-term liquidity. The company maintains $163 million in cash and short-term investments with $400 million in available liquidity. Net debt position of $99 million is manageable. • Cash Flow Concerns: Recent quarters show negative free cash flow of -$28 million in Q1 2025, though this improved from -$25 million in 2022. Operating cash flow turned negative at -$13 million in Q1 2025, indicating working capital challenges. • Valuation Metrics: Current EV/EBITDA of 13.4x appears elevated compared to the 5-year average. Price-to-book ratio of 1.27x suggests reasonable asset valuation. Debt-to-equity ratio of 0.50x is moderate but has increased from 0.07x in recent quarters. • Profitability: Near-breakeven net income of -$0.1 million in Q1 2025 and volatile earnings history suggest earnings quality concerns. EBITDA margins of 11.1% in Q1 2025 are below the company's 12-13% target range. • Other Considerations: Cyclical automotive industry exposure, tariff uncertainties, and declining vehicle production forecasts create additional risk factors.
Recent development
Over the past few years, Gentherm has undergone significant strategic transformation under new leadership. In 2024, Bill Presley was appointed as President and CEO, bringing a focus on scaling the company's four core technology platforms beyond traditional automotive applications. The company has shifted from being primarily a seat heating supplier to a comprehensive thermal and pneumatic comfort solutions provider. Key strategic initiatives include the completion of major acquisitions, particularly Alfmeier in 2023, which expanded Gentherm's capabilities in pneumatic comfort solutions and valve systems. This acquisition has enabled significant cross-selling opportunities and geographic expansion, particularly in North America and Asia. The company has also been implementing comprehensive business process standardization to improve operational efficiency and asset utilization. Manufacturing footprint optimization has been a major focus, with Gentherm reducing its global manufacturing footprint by approximately 30% while maintaining growth capacity. New facilities have been established in Mexico and Morocco to serve key regional markets and optimize cost structures. The company has also been investing heavily in R&D, maintaining spending at approximately 6% of revenue to develop next-generation technologies. Technology innovation has accelerated with the launch of several breakthrough products. ClimateSense, a software platform providing personalized thermal comfort, has been successfully launched with General Motors on the Cadillac Escalade IQ. ComfortScale, an integrated thermal and pneumatic comfort system, represents a significant advancement in consolidating multiple vehicle comfort functions. The company has also developed Pulse A massage technology and WellSense health monitoring capabilities. Market expansion efforts have focused on the growing electric vehicle segment and Chinese domestic market, where Gentherm has seen strong adoption of its thermal management solutions. The company has secured significant new business awards, including $640 million in Q4 2024 alone, demonstrating strong market acceptance of its expanded product portfolio.
THRM company profile · for informational purposes only — not investment advice.
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