Gentherm (THRM)
Market Price (10/23/2026): $26.01 | Market Cap: $797.2 MilSector: Consumer Discretionary | Industry: Automotive Parts & Equipment
Gentherm (THRM)
Market Price (10/23/2026): $26.01Market Cap: $797.2 MilSector: Consumer DiscretionaryIndustry: Automotive Parts & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldFCF Yield is 5.0% Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, and Electrification of Everything. Themes include EV Manufacturing, Autonomous Driving Technology, Show more. | Weak multi-year price returns2Y Excs Rtn is -64%, 3Y Excs Rtn is -126% | Key risksTHRM key risks include [1] its largest customer, Show more. |
| Attractive yieldFCF Yield is 5.0% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, and Electrification of Everything. Themes include EV Manufacturing, Autonomous Driving Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -64%, 3Y Excs Rtn is -126% |
| Key risksTHRM key risks include [1] its largest customer, Show more. |
Qualitative Assessment
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Gentherm (THRM) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Significant earnings miss in fiscal Q3 2026. Gentherm reported adjusted diluted earnings per share (EPS) of $0.33 for fiscal Q3 2026 (ended September 30, 2026), which missed the analyst consensus estimate of $0.64 to $0.66 by approximately 50%. This dramatic shortfall disappointed investors and contributed to the stock's decline, as analysts had anticipated a third consecutive beat. The company also reported a GAAP diluted loss per share of $(0.08) for the quarter, compared to earnings of $0.49 in the prior year.
2. Increased merger and restructuring expenses following the Modine acquisition. A primary driver of the substantial earnings miss was merger and restructuring expenses, which impacted GAAP diluted loss per share by approximately $0.37. Gentherm completed its combination with Modine Performance Technologies on October 1, 2026. The market reacted negatively to the near-term profitability outlook, as the company navigates the integration costs of this transformational acquisition.
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Gentherm (THRM) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Significant earnings miss in fiscal Q3 2026. Gentherm reported adjusted diluted earnings per share (EPS) of $0.33 for fiscal Q3 2026 (ended September 30, 2026), which missed the analyst consensus estimate of $0.64 to $0.66 by approximately 50%. This dramatic shortfall disappointed investors and contributed to the stock's decline, as analysts had anticipated a third consecutive beat. The company also reported a GAAP diluted loss per share of $(0.08) for the quarter, compared to earnings of $0.49 in the prior year.
2. Increased merger and restructuring expenses following the Modine acquisition. A primary driver of the substantial earnings miss was merger and restructuring expenses, which impacted GAAP diluted loss per share by approximately $0.37. Gentherm completed its combination with Modine Performance Technologies on October 1, 2026. The market reacted negatively to the near-term profitability outlook, as the company navigates the integration costs of this transformational acquisition.
3. Decline in gross margin due to inflation and foreign exchange impacts. Gentherm's gross margin decreased to 23.3% in fiscal Q3 2026, down from 24.6% in the prior year. This reduction was primarily caused by foreign exchange headwinds, particularly the movement in the Mexican peso, along with higher net material costs and broader inflationary pressures. Management indicated that inflationary pressures may persist into 2027 and that negotiations for customer cost recovery could experience a lag.
4. Softening global automotive production environment and consumer demand. The stock's trend also reflects a challenging macroeconomic backdrop, specifically a "softening global automotive production environment." Light vehicle production in Gentherm's key markets was projected to decrease at a low single-digit rate for the full year 2026 compared to 2025. Rising interest rates have acted as a dampener on consumer demand for new vehicles, and new vehicle prices, which surged 15-25% since 2020, have impacted affordability. Additionally, a high level of negative equity in trade-ins, averaging $7,107 in fiscal Q3 2026, further burdened consumers.
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Stock Movement Drivers
Fundamental Drivers
The -18.7% change in THRM stock from 6/30/2026 to 10/22/2026 was primarily driven by a -30.5% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10222026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.18 | 26.15 | -18.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,538 | 1,580 | 2.7% |
| Net Income Margin (%) | 1.5% | 1.7% | 14.4% |
| P/E Multiple | 43.4 | 30.2 | -30.5% |
| Shares Outstanding (Mil) | 31 | 31 | -0.4% |
| Cumulative Contribution | -18.7% |
Market Drivers
6/30/2026 to 10/22/2026| Return | Correlation | |
|---|---|---|
| THRM | -18.7% | |
| Market (SPY) | 2.3% | 8.1% |
| Sector (XLY) | -1.9% | -30.0% |
Fundamental Drivers
The -0.2% change in THRM stock from 3/31/2026 to 10/22/2026 was primarily driven by a -31.0% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10222026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.21 | 26.15 | -0.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,499 | 1,580 | 5.4% |
| Net Income Margin (%) | 1.2% | 1.7% | 37.9% |
| P/E Multiple | 43.7 | 30.2 | -31.0% |
| Shares Outstanding (Mil) | 30 | 31 | -0.5% |
| Cumulative Contribution | -0.2% |
Market Drivers
3/31/2026 to 10/22/2026| Return | Correlation | |
|---|---|---|
| THRM | -0.2% | |
| Market (SPY) | 17.8% | 21.6% |
| Sector (XLY) | 5.7% | -6.2% |
Fundamental Drivers
The -18.6% change in THRM stock from 9/30/2025 to 10/22/2026 was primarily driven by a -22.7% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10222026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.14 | 26.15 | -18.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,453 | 1,580 | 8.7% |
| Net Income Margin (%) | 2.2% | 1.7% | -22.7% |
| P/E Multiple | 31.1 | 30.2 | -3.0% |
| Shares Outstanding (Mil) | 31 | 31 | -0.2% |
| Cumulative Contribution | -18.6% |
Market Drivers
9/30/2025 to 10/22/2026| Return | Correlation | |
|---|---|---|
| THRM | -18.6% | |
| Market (SPY) | 15.6% | 32.2% |
| Sector (XLY) | -3.4% | 17.7% |
Fundamental Drivers
The -48.9% change in THRM stock from 9/30/2023 to 10/22/2026 was primarily driven by a -78.5% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10222026 | Change |
|---|---|---|---|
| Stock Price ($) | 51.19 | 26.15 | -48.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,412 | 1,580 | 11.8% |
| Net Income Margin (%) | 0.9% | 1.7% | 97.4% |
| P/E Multiple | 140.5 | 30.2 | -78.5% |
| Shares Outstanding (Mil) | 33 | 31 | 7.7% |
| Cumulative Contribution | -48.9% |
Market Drivers
9/30/2023 to 10/22/2026| Return | Correlation | |
|---|---|---|
| THRM | -48.9% | |
| Market (SPY) | 84.8% | 38.1% |
| Sector (XLY) | 46.2% | 36.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| THRM Return | 33% | -25% | -20% | -24% | -9% | -17% | -54% |
| Peers Return | 7% | -12% | 16% | -21% | 15% | 21% | 21% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| THRM Win Rate | 58% | 42% | 50% | 42% | 50% | 40% | |
| Peers Win Rate | 55% | 40% | 47% | 35% | 58% | 42% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| THRM Max Drawdown | -19% | -50% | -48% | -35% | -43% | -34% | |
| Peers Max Drawdown | -32% | -42% | -32% | -35% | -33% | -38% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VC, PATK, CVGI, MGA, BWA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/22/2026 (YTD)
How Low Can It Go
| Event | THRM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.1% | -18.8% |
| % Gain to Breakeven | 43.0% | 23.1% |
| Time to Breakeven | 105 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -30.8% | -9.5% |
| % Gain to Breakeven | 44.4% | 10.5% |
| Time to Breakeven | 112 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.2% | -33.7% |
| % Gain to Breakeven | 72.9% | 50.9% |
| Time to Breakeven | 228 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -16.4% | -19.2% |
| % Gain to Breakeven | 19.6% | 23.8% |
| Time to Breakeven | 15 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -12.7% | -3.7% |
| % Gain to Breakeven | 14.5% | 3.9% |
| Time to Breakeven | 19 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -25.5% | -12.2% |
| % Gain to Breakeven | 34.2% | 13.9% |
| Time to Breakeven | 924 days | 62 days |
In The Past
Gentherm's stock fell -30.1% during the 2025 US Tariff Shock. Such a loss loss requires a 43.0% gain to breakeven.
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| Event | THRM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.1% | -18.8% |
| % Gain to Breakeven | 43.0% | 23.1% |
| Time to Breakeven | 105 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -30.8% | -9.5% |
| % Gain to Breakeven | 44.4% | 10.5% |
| Time to Breakeven | 112 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.2% | -33.7% |
| % Gain to Breakeven | 72.9% | 50.9% |
| Time to Breakeven | 228 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -25.5% | -12.2% |
| % Gain to Breakeven | 34.2% | 13.9% |
| Time to Breakeven | 924 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -33.2% | -6.8% |
| % Gain to Breakeven | 49.7% | 7.3% |
| Time to Breakeven | 102 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -32.6% | -17.9% |
| % Gain to Breakeven | 48.3% | 21.8% |
| Time to Breakeven | 601 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -35.3% | -15.4% |
| % Gain to Breakeven | 54.5% | 18.2% |
| Time to Breakeven | 47 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -89.5% | -53.4% |
| % Gain to Breakeven | 852.3% | 114.4% |
| Time to Breakeven | 1701 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -23.7% | -8.6% |
| % Gain to Breakeven | 31.0% | 9.5% |
| Time to Breakeven | 33 days | 47 days |
In The Past
Gentherm's stock fell -30.1% during the 2025 US Tariff Shock. Such a loss loss requires a 43.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Gentherm (THRM)
Gentherm Incorporated (THRM) is a technology company focused on designing, developing, manufacturing, and marketing thermal management solutions. The company operates through two main business segments: Automotive and Medical, applying its expertise to create products that enhance comfort, optimize performance, and support health.
The Automotive segment is a key area for Gentherm, providing a comprehensive suite of climate comfort systems. These include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats, as well as steering wheel heaters, all aimed at improving passenger thermal comfort. This segment also develops integrated electronic components, such as electronic control units with proprietary technology and software. Additionally, Gentherm offers battery performance solutions, featuring cell connecting devices, battery cable technologies, and thermal management products designed for heating and cooling various automotive battery types. Its primary customers are light vehicle original equipment manufacturers (OEMs), first-tier automotive suppliers, and aftermarket seat distributors and installers.
In its Medical segment, Gentherm specializes in patient temperature management systems, which are crucial for medical applications. The company has a significant global presence, providing its products and services across multiple countries in North America, Europe, and Asia.
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Here are 1-3 brief analogies for Gentherm (THRM):
- Like the 'Nest thermostat' for your car's comfort (seats, steering wheels) and its battery temperature management.
- Like the 'Honeywell of thermal management', creating sophisticated heating and cooling systems for car interiors, vehicle batteries, and medical patient care.
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- Automotive Climate Comfort Systems: Gentherm provides systems like seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats, steering wheel heaters, and other thermal comfort products for automotive interiors.
- Automotive Integrated Electronic Control Units (ECUs): The company develops electronic control units and software that manage climate comfort systems, memory seat modules, and other automotive functions.
- Automotive Battery Thermal Management & Connectivity: Gentherm offers cell connecting devices, battery cable technologies, and thermal management products for heating and cooling various automotive batteries and modules.
- Medical Patient Temperature Management Systems: These systems are designed to effectively manage a patient's temperature in medical settings.
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Gentherm (THRM) primarily sells its products and services to other companies (B2B).
Based on the provided company description, Gentherm's major customer categories include:
- Light vehicle original equipment manufacturers (OEMs)
- First-tier automotive suppliers, such as automotive seat manufacturers
- Aftermarket seat distributors and installers
- Healthcare providers (for its patient temperature management systems)
The provided background information does not list the specific names of these customer companies or their public symbols.
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Bill Presley, President & Chief Executive Officer
Bill Presley joined Gentherm as President and CEO in January 2025, also serving on the Company's Board of Directors. He is responsible for the strategic direction and operational leadership of the company. Prior to Gentherm, he served as Vice Chairman, Chief Operating Officer, and President for Aptiv PLC's Signal & Power Solutions Segment. His career also includes various leadership positions at Lear Corporation, including Global Vice President of the Wire & Component Business Unit and Global Vice President of Engineering, and he began his career at Chrysler Corporation.
Jonathan “Jon” Douyard, Executive Vice President, Chief Financial Officer and Treasurer
Jon Douyard became Gentherm's Executive Vice President, Chief Financial Officer, and Treasurer, effective January 1, 2025. He leads all of Gentherm's financial and IT operations globally. Previously, he was CFO for The Shyft Group since March 2020, where he was involved in driving financial performance, generating cash flow, and managing merger and acquisition activities. His experience also includes four years as CFO for Fluke Corporation and 15 years in financial leadership roles at United Technologies, including CFO of Commercial Systems and Services at Sikorsky Aircraft, and General Electric.
Vishnu Sundaram, Senior Vice President and Chief Technology Officer
Vishnu Sundaram is Gentherm's Senior Vice President and Chief Technology Officer. He is responsible for leading the company's technology strategy, advanced product engineering, R&D, and partnership ecosystem. Prior to joining Gentherm, he was Senior Vice President, Head of Cockpit Connected Services at Stellantis, and before that, Senior Vice President of Telematics for Harman/Samsung.
Rafael Barkas, Senior Vice President of Global Operations and Supply Chain
Rafael Barkas is the Senior Vice President of Global Operations and Supply Chain at Gentherm. He joined Gentherm from Magneti Marelli, where he was the Head of NAFTA Electronics. His background also includes roles of increasing responsibility at Harman International, including Vice President of Operations and Vice President of the Automotive Audio division in China, and various positions at Johnson Controls.
Jaymi Wilson, Senior Vice President and General Manager, North America
Jaymi Wilson serves as Gentherm's Senior Vice President and General Manager, North America. She is responsible for growth and profitability in North America, managing customer relationships, product development, manufacturing, and product delivery. Since joining Gentherm in 2013, she has held various positions, including Senior Vice President of Strategy, Marketing, and Corporate Communications, and Vice President and General Manager of Gentherm's Medical Business.
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The key risks to Gentherm's business, trading under the symbol THRM, are primarily concentrated within its dominant Automotive segment and the broader challenges facing the industry.
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Heavy Dependence on the Global Automotive Industry and its Cyclical Nature: Gentherm's financial performance is overwhelmingly tied to the health and production levels of the global light vehicle market. The Automotive segment constitutes approximately 97% of the company's total product revenue. This makes Gentherm highly susceptible to the inherent cyclicality and volatility of automotive production and sales, which can be impacted by economic downturns, changes in consumer demand, and geopolitical factors. Furthermore, the company is exposed to supply chain risks, including potential shortages of semiconductors and raw materials, which can disrupt production for its major automotive customers and, consequently, impact Gentherm's revenue and profitability.
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Rapid Technological Evolution in the Automotive Sector, particularly the Transition to Electric Vehicles (EVs): The automotive industry is undergoing a significant transformation with the accelerated shift towards electric vehicles. While Gentherm is actively developing and supplying battery thermal management systems (BTMS) for EVs, this transition presents a "high-stakes" challenge. There is a risk that new technologies developed by Gentherm may not be widely accepted by the market, or that evolving industry trends and new competitors could emerge. If OEMs respond to slower EV adoption by reducing non-essential features to achieve lower price points, demand for some of Gentherm's higher-value comfort and thermal features could be impacted. Continuous innovation and significant R&D investment are required to adapt existing products and develop new solutions that align with evolving EV architectures and cabin designs.
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Intense Competition, Pricing Pressures, and Customer Concentration: Gentherm operates within a fiercely competitive automotive component supply industry, vying with larger, more diversified Tier 1 automotive suppliers such as Robert Bosch GmbH, Continental AG, and Denso Corporation, which possess significantly greater financial and research & development resources. This competitive landscape can exert downward pressure on product pricing and profit margins. Additionally, Gentherm faces customer concentration risk, with a substantial portion of its product revenues dependent on a few key customers, including Lear Corporation and Adient plc. The loss of a significant portion of sales from these major customers could materially and adversely affect Gentherm's business and financial condition. These competitive and customer-related pressures are further compounded by ongoing supply chain issues and volatility in raw material costs, leading to increased material and freight expenses that impact gross margins.
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Addressable Markets for Gentherm's Main Products and Services
Gentherm Incorporated (NASDAQ: THRM) operates in two primary segments: Automotive and Medical, offering a range of thermal management technologies. The addressable markets for its main products and services are substantial and are projected to grow significantly in the coming years. In the **Automotive segment**, Gentherm's key offerings include climate comfort systems and battery performance solutions. The global market for automotive seating thermal comfort systems was valued at approximately $3.8 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 10.4% through 2034. The global automotive heated steering wheel market size was valued at USD 3.29 billion in 2024 and is projected to grow to USD 5.6 billion by 2033, demonstrating a CAGR of 6.1% during the forecast period (2026–2033). For Battery Thermal Management Systems (BTMS) in electric vehicles (EVs), a critical area for Gentherm's battery performance solutions, the global market was estimated at $5.41 billion in 2024 and is projected to grow at a significant CAGR of 32.9% from 2025 to 2030. Another source indicated the global market for EV thermal management systems was valued at USD 3.4 billion in 2024, with projections to reach over USD 12 billion for passenger vehicles alone by 2034, at an anticipated CAGR of 16.1% from 2025. In the **Medical segment**, Gentherm provides patient temperature management systems. The global patient temperature management market size was valued at USD 3.95 billion in 2025 and is expected to reach USD 7.25 billion by 2033, growing at a CAGR of 8.03% from 2026 to 2033. Other estimates place the global market size at USD 4.00 billion in 2024, expected to exceed approximately USD 7.74 billion by 2034, with a CAGR of 6.82% from 2025.AI Analysis | Feedback
Gentherm (THRM) is poised for revenue growth over the next 2-3 years, driven by several strategic initiatives:
- Continued Growth in Automotive Climate and Comfort Solutions: Gentherm anticipates accelerating growth in its core automotive climate and comfort solutions, outperforming the general light vehicle production market. This segment continues to secure significant new business awards, indicating sustained demand for its innovative thermal management and pneumatic comfort technologies within vehicles.
- Expansion into New Adjacent Markets: The company is actively diversifying its revenue streams by expanding into new "growth markets" beyond its traditional light vehicle automotive base. These include sectors such as commercial vehicles, powersports, two-wheelers, furniture, and agriculture, where Gentherm plans to leverage its existing expertise in thermal management and fluid systems.
- Medical Segment Growth driven by New Product Introductions: Gentherm's Medical segment is expected to see promising growth, significantly boosted by new product launches. The Thermafix™ System, a patient warming and securement technology for which an FDA 510(k) submission has been made, is expected to begin generating revenue in late 2026 and accelerate medical segment growth into the high teens. Another significant medical product introduction is planned for early 2027.
- Strategic Combination with Modine Performance Technologies: Gentherm's planned combination with Modine Performance Technologies, expected to close by the fourth quarter of calendar year 2026, is a transformative move. This merger is anticipated to significantly expand Gentherm's scale, end-market reach, and presence in thermal management and precision flow management across more diverse markets, creating a combined entity with substantial revenue potential and commercial synergies.
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Share Repurchases
- In June 2024, Gentherm authorized a new $150 million stock repurchase program, set to commence upon the conclusion of its prior program.
- As of June 4, 2024, the existing stock repurchase program, initiated in 2020, had approximately $26 million of repurchase authorization remaining.
- In November 2023, the company executed a $60 million accelerated share repurchase agreement.
Share Issuance
- Gentherm's number of outstanding shares decreased from 33.11 million in 2021 to 30.48 million in 2025, primarily due to share repurchases, with no significant share issuances identified.
Outbound Investments
- Gentherm completed the acquisition of Alfmeier Präzision SE's automotive business in August 2022, which expanded its capabilities in automotive lumbar and massage comfort solutions.
- In July 2022, the company acquired Jiangmen Dacheng Medical Equipment Co. Ltd. for approximately $38.05 million, strengthening its Medical segment.
- Gentherm has announced a planned combination with Modine Performance Technologies, which is expected to close by the end of 2026, aiming to advance its position in thermal and precision flow management markets.
Capital Expenditures
- Capital expenditures amounted to $56.91 million in 2025 and $74.27 million in 2024.
- In 2023, capital expenditures were $38.42 million, and in 2022, they were $40.20 million.
- For 2026, Gentherm anticipates capital expenditures to be between $45 million and $55 million, with a focus on strategic growth drivers and footprint realignment.
Peer Outperformance in Automotive Parts & Equipment
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| THRM | Gentherm | 3.9% | 30.2x | -19.3% | -46.6% | -68.3% | — |
| BWA | BorgWarner | 1.8% | 27.1x | 28.9% | 50.9% | 49.8% | +118pp |
| ALV | Autoliv | 4.4% | 13.7x | 5.9% | 34.5% | 48.7% | +117pp |
| PATK | Patrick Industries | 0.6% | 15.2x | -28.9% | 52.7% | 44.4% | +113pp |
| DORM | Dorman Products | 5.0% | 17.4x | -17.2% | 73.7% | 24.6% | +93pp |
| MGA | Magna International | 1.8% | 23.1x | 46.2% | 44.1% | -3.6% | +65pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -18.8% | 84.2% | 90.5% | CVSA 258% · PRDO 243% · LRN 142% |
| Homebuilding | 17 | -6.4% | 42.4% | 31.3% | GRBK 156% · PHM 152% · TOL 146% |
| Hotels, Resorts & Cruise Lines | 21 | 5.7% | 46.2% | 22.9% | RCL 250% · MAR 167% · HLT 156% |
| Home Furnishings | 3 | -5.5% | 62.3% | 1.0% | SGI 45% · MHK -33% |
| Home Improvement Retail | 5 | -14.8% | 15.2% | -1.9% | HD 2% · LOW -2% · FND -65% |
| Automotive Retail | 17 | -15.0% | 12.3% | -6.3% | MUSA 208% · PAG 114% · ORLY 108% |
| Specialized Consumer Services | 10 | -14.1% | 29.3% | -11.9% | HRB 140% · FTDR 97% · SCI 43% |
| Footwear | 9 | 69.8% | 43.9% | -19.2% | DECK 35% · SHOO 12% · CROX -19% |
| Distributors | 4 | -11.4% | -12.9% | -21.5% | ARMK 110% · GPC 11% · LKQ -54% |
| Restaurants | 37 | -6.6% | -4.2% | -23.8% | EAT 326% · CAKE 198% · TXRH 111% |
| Apparel Retail | 26 | 6.6% | 4.7% | -38.9% | ANF 322% · TJX 147% · ROST 126% |
| Leisure Products | 14 | -10.6% | -12.8% | -40.0% | GOLF 75% · HAS 60% · MAT -17% |
| Computer & Electronics Retail | 3 | 12.9% | 69.4% | -40.2% | BBY 7% · GME -40% |
| Household Appliances | 18 | 3.9% | 9.2% | -41.4% | |
| Leisure Facilities | 12 | 7.9% | 0.4% | -42.3% | LTH 144% · OSW 123% · PLNT -33% |
| Apparel, Accessories & Luxury Goods | 29 | 0.0% | 22.9% | -44.7% | RL 242% · TPR 235% · KTB 79% |
| Casinos & Gaming | 20 | -14.3% | -23.0% | -46.6% | MCRI 90% · BYD 15% · RRR 13% |
| Automotive Parts & Equipment ← | 39 | -15.1% | -9.9% | -48.3% | MOD 1059% · GTX 206% · BWA 50% |
| Broadline Retail | 14 | -5.8% | 41.0% | -51.9% | EBAY 65% · AMZN 50% · OLLI 38% |
| Other Specialty Retail | 24 | -24.2% | -13.6% | -59.6% | ULTA 71% · ASO 49% · DKS 33% |
| Automobile Manufacturers | 8 | -79.0% | -45.2% | -72.5% | GM 39% · TSLA 24% · F 0% |
| Consumer Electronics | 11 | -32.7% | -33.3% | -79.0% | GRMN 98% · SONO -45% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 60.09 |
| Mkt Cap | 2.1 |
| Rev LTM | 3,885 |
| Op Inc LTM | 233 |
| FCF LTM | 87 |
| FCF 3Y Avg | 217 |
| CFO LTM | 204 |
| CFO 3Y Avg | 329 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.4% |
| Rev Chg 3Y Avg | 1.2% |
| Rev Chg Q | 4.5% |
| QoQ Delta Rev Chg LTM | 1.1% |
| Op Inc Chg LTM | 4.9% |
| Op Inc Chg 3Y Avg | 1.2% |
| Op Mgn LTM | 5.4% |
| Op Mgn 3Y Avg | 7.0% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 5.4% |
| CFO/Rev 3Y Avg | 8.7% |
| FCF/Rev LTM | 2.8% |
| FCF/Rev 3Y Avg | 4.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Automotive | 1,449 | 1,406 | 1,423 | 1,162 | 1,005 |
| Medical | 50 | 50 | 46 | 43 | 42 |
| Corporate and other unallocated expenses | 0 | ||||
| Total | 1,499 | 1,456 | 1,469 | 1,205 | 1,046 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Automotive | 183 | 200 | 186 | 118 | 163 |
| Medical | 0 | -0 | -22 | -4 | -2 |
| Corporate and other unallocated expenses | -101 | -93 | -86 | -66 | -46 |
| Total | 83 | 107 | 77 | 48 | 115 |
Price Behavior
| Market Price | $26.15 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 06/10/1993 | |
| Distance from 52W High | -39.2% | |
| 50 Days | 200 Days | |
| DMA Price | $34.44 | $32.38 |
| DMA Trend | down | down |
| Distance from DMA | -24.1% | -19.2% |
| 3M | 1YR | |
| Volatility | 37.8% | 47.1% |
| Downside Capture | 257.56 | 152.70 |
| Upside Capture | 26.41 | 113.55 |
| Correlation (S&P 500) | 31.4% | 31.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.70 | 2.14 | 0.24 | 0.83 | 1.14 | 1.05 |
| Up Beta | -3.37 | 0.89 | 1.42 | 0.91 | 0.95 | 0.89 |
| Down Beta | 2.78 | 2.61 | -5.23 | -0.44 | 0.67 | 0.72 |
| Up Capture | 141% | 178% | 96% | 125% | 142% | 126% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 7 | 16 | 27 | 61 | 117 | 347 |
| Down Capture | 355% | 352% | 121% | 119% | 132% | 110% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 15 | 25 | 35 | 63 | 131 | 397 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with THRM | |
|---|---|---|---|---|
| THRM | -18.1% | 47.1% | -0.29 | - |
| Sector ETF (XLY) | -3.3% | 19.2% | -0.31 | 16.7% |
| Equity (SPY) | 14.8% | 12.7% | 0.80 | 31.7% |
| Gold (GLD) | -2.2% | 28.4% | -0.09 | 14.4% |
| Commodities (DBC) | 52.1% | 20.7% | 1.91 | -5.4% |
| Real Estate (VNQ) | 4.7% | 13.9% | 0.08 | 16.2% |
| Bitcoin (BTCUSD) | -22.4% | 43.4% | -0.47 | 5.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with THRM | |
|---|---|---|---|---|
| THRM | -20.0% | 42.7% | -0.40 | - |
| Sector ETF (XLY) | 5.2% | 24.1% | 0.17 | 42.8% |
| Equity (SPY) | 13.0% | 17.1% | 0.57 | 45.5% |
| Gold (GLD) | 17.1% | 18.9% | 0.72 | 6.5% |
| Commodities (DBC) | 9.3% | 19.5% | 0.36 | 5.5% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 37.8% |
| Bitcoin (BTCUSD) | 8.0% | 51.7% | 0.33 | 18.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with THRM | |
|---|---|---|---|---|
| THRM | -0.5% | 39.3% | 0.11 | - |
| Sector ETF (XLY) | 12.4% | 22.2% | 0.51 | 49.0% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 51.2% |
| Gold (GLD) | 11.9% | 16.4% | 0.59 | 4.1% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 16.2% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 41.4% |
| Bitcoin (BTCUSD) | 63.0% | 66.2% | 1.03 | 14.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 10/22/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | 3.0% | 2.5% | 10.7% |
| 2/19/2026 | 8.9% | 5.4% | -12.1% |
| 10/23/2025 | 8.2% | 7.9% | -4.8% |
| 7/24/2025 | 2.7% | 1.8% | 8.3% |
| 4/24/2025 | -0.3% | 4.8% | 9.8% |
| 2/19/2025 | 0.3% | 0.7% | -8.9% |
| 10/30/2024 | 1.6% | 6.9% | 1.4% |
| 7/31/2024 | 9.7% | -0.3% | -0.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 10 |
| # Negative | 9 | 10 | 13 |
| Median Positive | 4.8% | 5.4% | 9.1% |
| Median Negative | -3.9% | -4.0% | -5.4% |
| Max Positive | 12.9% | 15.3% | 28.3% |
| Max Negative | -15.6% | -25.6% | -18.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | 3.0% | 2.5% | 10.7% |
| 2/19/2026 | 8.9% | 5.4% | -12.1% |
| 10/23/2025 | 8.2% | 7.9% | -4.8% |
| 7/24/2025 | 2.7% | 1.8% | 8.3% |
| 4/24/2025 | -0.3% | 4.8% | 9.8% |
| 2/19/2025 | 0.3% | 0.7% | -8.9% |
| 10/30/2024 | 1.6% | 6.9% | 1.4% |
| 7/31/2024 | 9.7% | -0.3% | -0.2% |
| 4/30/2024 | 0.4% | 1.3% | 0.8% |
| 2/21/2024 | -1.4% | -3.6% | -6.2% |
| 10/26/2023 | -15.6% | -25.6% | -11.7% |
| 8/1/2023 | 10.5% | 8.3% | 2.2% |
| 4/27/2023 | 0.8% | 4.8% | -1.3% |
| 2/22/2023 | -0.4% | -1.7% | -12.2% |
| 11/2/2022 | 5.5% | 15.3% | 21.8% |
| 8/2/2022 | -3.9% | -3.9% | -5.2% |
| 5/4/2022 | 4.1% | -7.9% | 6.9% |
| 2/17/2022 | -0.8% | -4.0% | -18.6% |
| 10/28/2021 | -13.7% | -6.4% | -5.2% |
| 7/29/2021 | 12.9% | 13.5% | 17.3% |
| 4/29/2021 | -4.1% | -5.1% | -5.4% |
| 3/1/2021 | -5.5% | -0.7% | -4.2% |
| 10/29/2020 | 6.3% | 9.2% | 28.3% |
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 10 |
| # Negative | 9 | 10 | 13 |
| Median Positive | 4.8% | 5.4% | 9.1% |
| Median Negative | -3.9% | -4.0% | -5.4% |
| Max Positive | 12.9% | 15.3% | 28.3% |
| Max Negative | -15.6% | -25.6% | -18.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/23/2026 | 10-Q |
| 03/31/2026 | 04/23/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/19/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/23/2026 | 10-Q |
| 03/31/2026 | 04/23/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/19/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/17/2022 | 10-K |
| 09/30/2021 | 10/29/2021 | 10-Q |
| 06/30/2021 | 07/30/2021 | 10-Q |
| 03/31/2021 | 04/30/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/20/2020 | 10-K |
| 09/30/2019 | 10/30/2019 | 10-Q |
Recent Forward Guidance
Updated 10/22/2026Latest: Q3 2026 Earnings Reported 10/22/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Product Revenues | Reported | 1.82 Bil | 1.88 Bil | 1.93 Bil | 21.0% | Raised | Guidance: 1.55 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 210.00 Mil | 220.00 Mil | 230.00 Mil | 18.9% | Raised | Guidance: 185.00 Mil for 2026 | |
| 2026 Adjusted Free Cash Flow | Reported | 100.00 Mil | 110.00 Mil | 120.00 Mil | 22.2% | Raised | Guidance: 90.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 4/23/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Product Revenues | Reported | 1.50 Bil | 1.55 Bil | 1.60 Bil | 0 | Affirmed | Guidance: 1.55 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 175.00 Mil | 185.00 Mil | 195.00 Mil | 0 | Affirmed | Guidance: 185.00 Mil for 2026 | |
| 2026 Adjusted Free Cash Flow | Reported | 80.00 Mil | 90.00 Mil | 100.00 Mil | 0 | Affirmed | Guidance: 90.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/19/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Product Revenues | Reported | 1.50 Bil | 1.55 Bil | 1.60 Bil | 4.7% | Higher New | Actual: 1.48 Bil for 2025 | |
| 2026 Adjusted EBITDA | Reported | 175.00 Mil | 185.00 Mil | 195.00 Mil | ||||
| 2026 Adjusted Free Cash Flow | Reported | 80.00 Mil | 90.00 Mil | 100.00 Mil | ||||
| 2027 Product Revenues | Reported | 1.70 Bil | ||||||
Q3 2025 Earnings Reported 10/23/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Product Revenues | Reported | 1.47 Bil | 1.48 Bil | 1.49 Bil | 1.0% | Raised | Guidance: 1.47 Bil for 2025 | |
| 2025 Adjusted EBITDA Margin Rate | Reported | 11.9% | 12.1% | 12.3% | 0.0% | Affirmed | Guidance: 12.1% for 2025 | |
| 2025 Capital Expenditures | Reported | 45.00 Mil | 50.00 Mil | 55.00 Mil | -16.7% | Lowered | Guidance: 60.00 Mil for 2025 | |
Investor Activity (13F)
Updated Oct 23, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Automotive Parts & Equipment Resources |
| AftermarketNews |
| Tire Review |
| Motor Age |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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