Thermon Group Holdings, Inc. (THR) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — THR

Balance Sheet

(in millions USD)

Metric	Q3 2026	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022
Cash & Equivalents	46.86	29.75	36.53	38.74	37.00	49.08	55.40	30.53	33.17	35.36	31.87	40.03	32.57	38.24	41.05
Accounts Receivable	111.88	102.13	100.72	114.59	93.50	98.68	120.62	101.56	91.63	92.38	100.56	94.28	89.42	82.37	74.13
Inventory	116.99	110.98	104.92	92.31	93.60	89.92	96.30	92.55	92.89	91.42	95.01	86.23	69.63	65.62	64.40
Total Current Assets	320.62	288.85	272.87	280.23	275.02	266.35	309.73	269.88	255.58	253.21	257.95	247.57	232.81	221.43	214.52
Property, Plant & Equipment	79.49	76.54	75.65	71.06	67.41	69.31	67.93	64.79	64.80	61.04	61.80	64.58	66.30	68.25	70.95
Goodwill	271.39	269.81	271.79	263.55	269.51	269.42	268.54	218.86	221.91	221.20	218.31	226.50	211.39	211.22	215.07
Intangible Assets	107.37	110.45	114.62	118.12	120.73	123.16	133.25	88.02	92.65	96.16	97.20	103.47	96.40	98.46	102.67
Total Non-current Assets*	496.08	489.33	492.48	483.16	486.51	490.60	495.36	393.84	401.54	396.89	396.33	414.36	393.66	397.48	410.30
Total Assets	816.70	778.18	765.34	763.39	761.53	756.94	805.09	663.72	657.13	650.10	654.28	661.93	626.47	618.92	624.83
Accounts Payable	38.89	41.33	33.31	29.70	30.42	30.58	26.61	34.60	28.32	30.00	41.10	38.07	34.80	30.99	22.48
Total Current Liabilities	110.60	102.46	112.50	109.68	98.27	102.23	139.74	117.93	110.05	109.81	120.98	112.68	74.85	67.69	53.42
Long-term Debt	115.82	118.09	115.96	134.77	143.17	147.57	--	--	--	--	--	--	--	--	--
Total Non-current Liabilities*	167.40	160.50	143.53	165.03	172.98	178.74	197.92	103.49	113.12	128.78	137.54	148.00	163.06	173.70	186.52
Total Liabilities	278.00	262.95	256.03	274.71	271.25	280.96	337.66	221.42	223.18	238.59	258.52	260.68	237.91	241.39	239.94
Retained Earnings	384.12	365.83	350.88	325.33	306.79	297.29	278.70	262.86	248.13	229.50	221.07	210.09	194.84	183.57	184.59
Total Stockholder Equity*	538.70	515.23	509.31	488.69	490.29	475.98	467.43	442.31	433.95	411.50	395.76	401.25	388.56	377.53	384.89

* Derived from reported values

Income Statement

(in millions USD) (except per-share rows)

Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Total Revenue	148.33	147.31	131.72	108.90	134.08	134.35	114.65	115.13	127.65	136.43	123.66	106.89	122.48	122.11	100.56	95.44	102.58	100.61	81.32	71.16
Cost of Revenue	83.05	78.66	70.65	60.85	74.65	72.23	63.74	64.69	75.27	79.02	69.20	59.58	70.96	71.66	54.63	58.22	63.10	59.87	49.60	42.99
Gross Profit	65.28	68.65	61.08	48.05	59.43	62.12	50.91	50.43	52.39	57.41	54.46	47.31	51.52	50.45	45.93	37.23	39.48	40.75	31.72	28.17
Selling, General & Admin	52.30	38.31	35.51	32.17	32.84	34.12	31.26	31.09	32.82	31.85	30.49	28.65	33.96	30.89	27.75	24.40	26.23	22.10	23.32	21.40
Total Operating Expenses	54.50	42.00	39.50	36.32	36.30	34.44	35.71	36.70	35.56	35.96	32.77	31.90	37.65	36.39	29.89	26.01	28.08	24.58	25.50	23.56
Operating Income	10.78	26.65	21.58	11.73	23.13	27.69	15.20	13.74	16.82	21.45	21.68	15.41	13.88	14.06	16.04	11.21	11.40	16.17	6.23	4.61
Interest Expense	--	--	--	--	--	--	--	--	--	1.75	1.93	1.58	1.75	1.88	1.41	0.84	0.79	0.84	2.02	2.17
Pretax Income	8.58	24.62	20.01	11.01	21.09	25.03	12.98	11.03	13.66	20.35	19.49	14.17	12.63	12.84	14.30	9.46	11.59	14.70	1.25	2.52
Tax Provision	5.84	6.33	5.06	2.43	4.12	6.49	3.48	2.52	3.58	4.51	4.76	3.23	4.93	4.42	3.31	2.91	2.49	3.43	0.77	1.65
Net Income	2.75	18.29	14.95	8.58	16.97	18.54	9.49	8.51	10.08	15.84	14.73	10.94	7.70	8.43	10.98	6.56	7.48	11.27	(0.34)	0.87
Basic EPS	0.10	0.56	0.45	0.26	0.51	0.55	0.28	0.25	0.29	0.47	0.44	0.33	0.23	0.25	0.33	0.20	0.22	0.34	0.01	0.03
Diluted EPS	0.10	0.55	0.45	0.26	0.50	0.54	0.28	0.25	0.30	0.46	0.43	0.32	0.22	0.25	0.33	0.20	0.23	0.33	0.01	0.03

Cash Flow Statement

(in millions USD)

Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Operating Cash Flow	10.65	17.98	7.43	10.74	32.06	9.84	8.56	12.66	37.37	24.33	3.39	0.87	26.11	19.07	0.67	11.86	15.01	3.30	7.97	2.48
Capital Expenditures	3.53	4.92	3.06	2.42	3.07	1.39	1.86	3.92	3.13	2.27	2.81	2.80	4.28	1.56	2.00	1.62	2.30	0.87	1.18	0.87
Free Cash Flow*	7.12	13.06	4.36	8.32	28.99	8.45	6.70	8.74	34.23	22.05	0.59	(1.93)	21.83	17.52	(1.33)	10.24	12.71	2.43	6.79	1.60
Investing Cash Flow	(3.21)	(4.47)	(3.05)	(2.35)	(3.65)	(5.57)	(1.84)	(3.90)	(1.24)	(102.70)	(2.78)	(2.79)	(4.25)	(1.50)	(1.92)	(36.89)	(1.85)	(0.69)	(1.15)	(0.85)
Financing Cash Flow	(1.60)	3.76	(6.84)	(12.64)	(28.60)	(14.16)	(5.66)	(8.00)	(41.00)	102.13	(2.74)	(1.85)	(20.19)	(11.21)	(4.82)	22.76	(5.37)	(7.29)	(8.70)	(1.29)

* Derived from reported values