Thermon Group Holdings, Inc.

THRNYSEIndustrials

$61.14

$-5.67(-8.49%)

Market Cap$2.0B

P/E Ratio—

52W High$71.87

52W Low$23.86

Avg Volume571K

Open$66.42

Beta0.83

Free Cash Flow Financials Revenue

Thermon Group Holdings, Inc. (THR) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

THR · free cash flow · updated Jun 9, 2026

Core FCF metrics

THR · FCF · TTM · margin & CAGR

Free cash flow was $32.9M for FY2026 (fiscal year ending 2026-03-31), down 37.8% year-over-year The FCF margin was 6.1%. Five-year CAGR stands at +8.2%.

FY2026 Free Cash Flow$32.9M▼ -37.8% YoY

Trailing 12M (TTM)$32.9Mtrailing 4 quarters sum

FCF Margin6.1%$32.9M ÷ revenue

3-Year CAGR-12.0%FY2023 → FY2026

5-Year CAGR+8.2%FY2021 → FY2026

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

THR · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2026Latest$46.8M(14M)$32.9M▼ 37.8%6.1%

FY2025$63.1M(10M)$52.9M▼ 3.8%10.6%

FY2024$66.0M(11M)$54.9M▲ +13.8%11.1%

FY2023$57.7M(9M)$48.3M▲ +105.1%10.9%

FY2022$28.8M(5M)$23.5M▲ +6.2%6.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

THR · P/FCF · FCF yield · FCF per share

Thermon Group Holdings, Inc. (THR) trades at a FCF yield of 1.63% and a price-to-free-cash-flow ratio of 61.1x. FCF per share stands at $1.00, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

1.63%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.00

TTM FCF ÷ Shares Outstanding

Price / FCF

x61.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x64.5

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2026 · 2026-03-31

Cash flow statement summary

THR · cash flow statement · operating / investing / financing

For FY2026, Thermon Group Holdings, Inc. generated $46.8M in operating cash flow and spent 14M in capital expenditures, yielding $32.9M in free cash flow.

Operating Activities

+$46.8M

Cash from core business operations

2026-03-31

Investing Activities

−$13.1M

CapEx, acquisitions & investments

2026-03-31

Financing Activities

−$17.3M

Buybacks, dividends & debt

2026-03-31

FCF FormulaOperating CF ($46.8M) − |CapEx| (14M) = FCF ($32.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

THR vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Thermon Group Holdings, Inc.YOU

THR

$32.9M-37.8%6.1%

Space Exploration Technologies Corp.

SPCX

−$13.95B-159.0%-74.7%

Loss

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Thermon Group Holdings, Inc. (THR) reported free cash flow of $32.9M for FY2026 (fiscal year ending 2026-03-31), down 37.8% year-over-year. The FCF margin was 6.1%.

Based on available data, Thermon Group Holdings, Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $59.9M in FY2020. The 5-year CAGR stands at +8.2%.

Thermon Group Holdings, Inc.'s FCF yield is 1.63% and price-to-FCF ratio is 61.1x for FY2026, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

THR free cash flow · 8 questions

Thermon Group Holdings, Inc. free cash flow was $32.9M for FY2026, down 37.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $32.9M.

THR free cash flowTHR FCFTHR FCF 2026THR free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Thermon Group Holdings, Inc. · Thermon Group Holdings, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026