THRM Gentherm Inc

Overview and Growth

Gentherm Inc generated $1.50B of revenue in fiscal 2025. At $1.50B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 2.9% above fiscal 2024 revenue of $1.46B, marking a year-over-year increase. Diluted earnings per share were $0.59, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $2.06 in fiscal 2024, the current result was 71.4% lower. Total assets stood at $1.40B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 1.07x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $362.18M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 24.2% of revenue, showing how much of the top line remained after direct costs. Operations produced $82.70M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 5.5%, showing how efficiently sales converted into operating profit. Pretax income was $35.84M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Measured against revenue, pretax income equaled 2.4%, adding a pre-tax profitability layer between revenue and net income. Income tax expense totaled $17.55M, providing the reported tax component that separates pretax and after-tax earnings. The income-tax provision equaled 49.0% of pretax income, showing the tax burden absorbed by the year’s earnings.

Liquidity and Capital Structure

Total assets were $1.40B, supported by $676.11M of liabilities and $720.32M of shareholder equity. Current assets were $776.95M against $404.31M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.92x, leaving a positive buffer for near-term obligations. The company held $160.83M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 39.8% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $189.07M, adding a fixed financing obligation alongside the company’s equity capital. The debt-to-equity relationship was 0.26x, showing how much debt the company carried for each unit of book equity. Relative to total assets, debt measured 13.5%, showing how much of the asset base was matched by borrowing. Book equity represented 51.6% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 48.4%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 11.5% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $1.25B in fiscal 2024, the current asset base moved 11.9% and finished higher. Against $616.95M of equity in fiscal 2024, the current book-equity balance moved 16.8% and ended higher. The reported cash balance changed 19.9% from $134.13M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $116.79M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Capital expenditures used $55.67M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 47.7% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $61.12M of positive free cash flow for the period. Relative to revenue, free cash flow equaled 4.1%, showing how much sales converted into cash after investment. Measured against total assets, free cash flow represented 4.4%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.