
Cancel anytime
- Chart
- Upturn Summary
- Highlights
- Revenue
- Valuation
- Analyst Ratings
Upturn AI SWOT
- About


Thermon Group Holdings Inc (THR)



- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- Pass (Skip investing)


(see disclosures)
- ALL
- YEAR
- MONTH
- WEEK
Upturn Advisory Summary
06/30/2025: THR (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $36
1 Year Target Price $36
1 | Strong Buy |
2 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -49.58% | Avg. Invested days 27 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
![]() ![]() | ![]() ![]() |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 933.47M USD | Price to earnings Ratio 17.89 | 1Y Target Price 36 |
Price to earnings Ratio 17.89 | 1Y Target Price 36 | ||
Volume (30-day avg) 4 | Beta 1.04 | 52 Weeks Range 23.05 - 34.36 | Updated Date 06/30/2025 |
52 Weeks Range 23.05 - 34.36 | Updated Date 06/30/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 1.57 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 10.74% | Operating Margin (TTM) 19.02% |
Management Effectiveness
Return on Assets (TTM) 6.72% | Return on Equity (TTM) 11.03% |
Valuation
Trailing PE 17.89 | Forward PE 15.58 | Enterprise Value 1049938709 | Price to Sales(TTM) 1.87 |
Enterprise Value 1049938709 | Price to Sales(TTM) 1.87 | ||
Enterprise Value to Revenue 2.11 | Enterprise Value to EBITDA 10.22 | Shares Outstanding 33243100 | Shares Floating 32258529 |
Shares Outstanding 33243100 | Shares Floating 32258529 | ||
Percent Insiders 2.38 | Percent Institutions 98.88 |
Analyst Ratings
Rating 2 | Target Price 36 | Buy 2 | Strong Buy 1 |
Buy 2 | Strong Buy 1 | ||
Hold 1 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Thermon Group Holdings Inc

Company Overview
History and Background
Thermon Group Holdings Inc. was founded in 1954. It evolved from a small manufacturing company to a global leader in industrial process heating solutions. They expanded through acquisitions and organic growth, focusing on serving energy, chemical, and power generation industries.
Core Business Areas
- Heat Tracing Systems: Provides electric and steam heat tracing systems used to maintain or raise the temperature of pipes, tanks, and other equipment in industrial applications to prevent freezing, maintain viscosity, or enable chemical reactions.
- Process Heating Systems: Offers custom-engineered process heating systems, including heaters, controls, and power distribution equipment, for a variety of industrial processes.
- Monitoring and Control Systems: Provides systems for monitoring and controlling heat tracing and process heating systems, enhancing efficiency and safety.
- Services: Offers engineering, design, installation, and maintenance services for its heat tracing and process heating systems.
Leadership and Structure
Thermon's leadership team consists of the CEO, CFO, and other key executives. The company operates under a structure that includes engineering, manufacturing, sales, and service departments.
Top Products and Market Share
Key Offerings
- Electric Heat Tracing: Electric heat tracing systems are used to maintain or raise the temperature of pipes and vessels. Thermon is a leading provider in this segment. Competitors include Chromalox, Bartec, and Pentair Thermal Management. Thermon has a significant market share (estimated to be in the 20-30% range) depending on the region and application.
- Steam Tracing: Steam tracing systems are used where steam is readily available and cost-effective for heating. Competitors are similar to electric heat tracing and others specializing in steam systems. Market share information is less readily available but Thermon also has a significant steam-based market share.
- Heater Systems: Provides a range of heater systems, including immersion, circulation, and duct heaters. Chromalox, Watlow, and Indeeco are competitors in this segment. Due to this product having a variety of competitors, Thermon's market share is lower.
Market Dynamics
Industry Overview
The industrial process heating market is driven by factors like infrastructure development, energy efficiency regulations, and the need for temperature maintenance in various industries. It is a mature market with moderate growth.
Positioning
Thermon is positioned as a global leader in industrial process heating, known for its engineering expertise, product quality, and comprehensive service offerings. It has a competitive advantage through its brand reputation, global presence, and broad product portfolio.
Total Addressable Market (TAM)
The global industrial heating market is estimated to be valued at billions of dollars. Thermon is positioned to capture a significant portion of this market through its broad product offerings, global presence, and engineering capabilities.
Upturn SWOT Analysis
Strengths
- Strong brand reputation
- Global presence
- Broad product portfolio
- Engineering expertise
- Comprehensive service offerings
Weaknesses
- Exposure to cyclical industries (oil & gas)
- Geographic concentration (North America)
- Dependence on large projects
Opportunities
- Expansion into emerging markets
- Development of new technologies
- Acquisitions of complementary businesses
- Growth in renewable energy sector
Threats
- Economic downturns
- Fluctuations in raw material prices
- Increased competition
- Changes in regulations
Competitors and Market Share
Key Competitors
- PH (Pentair)
- PRGS (Progress Rail, a Caterpillar company)
- BAR.F (Bartec)
Competitive Landscape
Thermon holds a strong position with a well-established brand and comprehensive solutions. Pentair is a diversified industrial manufacturer, and Bartec specializes in explosion-proof technologies.
Growth Trajectory and Initiatives
Historical Growth: Thermon's historical growth has been driven by acquisitions, organic expansion, and product development.
Future Projections: Analyst estimates suggest moderate growth for Thermon in the coming years, driven by infrastructure spending and expansion into new markets. Detailed figures are not readily available and change quarterly.
Recent Initiatives: Recent initiatives may include new product launches, acquisitions, and investments in technology.
Summary
Thermon Group Holdings Inc. is a leading provider of industrial process heating solutions with a global presence. It has a strong brand reputation and comprehensive product offerings. While the company faces exposure to cyclical industries and economic downturns, its expansion into emerging markets and development of new technologies offer growth opportunities. The company has been strategically investing in its products and markets and is well-positioned to capture the growing demand for industrial heating solutions.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings (10-K, 10-Q)
- Investor Presentations
- Industry Reports
- Analyst Estimates
- Company Website
Disclaimers:
This analysis is based on publicly available information and analyst estimates. Actual results may vary. This is not financial advice. Market share data is estimated.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Thermon Group Holdings Inc
Exchange NYSE | Headquaters Austin, TX, United States | ||
IPO Launch date 2011-05-05 | President, CEO & Director Mr. Bruce A. Thames | ||
Sector Industrials | Industry Specialty Industrial Machinery | Full time employees 1568 | Website https://www.thermon.com |
Full time employees 1568 | Website https://www.thermon.com |
Thermon Group Holdings, Inc. provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers heat tracing solutions, including software automated engineering design services, heat tracing products, smart connected control and monitoring systems, construction services, and maintenance services; tubing bundle solutions comprising bundle design services, heated, and insulated sample lines; temporary power systems; heated blankets; and electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other complementary products and services. It also provides controls, monitoring, and software systems for the control and management of a heat trace system; environmental heating solutions that offer electric or gas-powered space heating for hazardous and non-hazardous areas under the Ruffneck, Norsemen, and Catadyne brands; process heating solutions under the Caloritech brand name; filtration solutions under the 3L Filters brand; rail and transit solutions under the Hellfire, Velocity, ArcticSense, and other brand names; and electric resistance, electrode, and fired coil tube boilers under the Vapor Power, Precision Boilers, and Caloritech brands. In addition, the company offers project services, such as engineering and design, procurement and project management, turnkey construction installation, recurring facility assessment or audit, and maintenance services. Further, the company operates an electron cross-linking facility. It serves the general industrial, chemical and petrochemical, oil, gas, power generation, commercial, food and beverage, rail and transit, and other markets. Thermon Group Holdings, Inc. was founded in 1954 and is headquartered in Austin, Texas.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.