Gentherm Incorporated designs, develops, manufactures, and sells thermal management and pneumatic comfort technologies in the United States, China, Germany, Czech Republic, South Korea, Mexico, Slovakia, Romania, Japan, United Kingdom and internationally. It operates in two segments, Automotive and Medical. The company offers climate comfort systems, including seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units; pneumatic lumbar and massage comfort solutions comprising lumbar support, side bolster adjustment, multi-contour seats and massage systems; and other climate and comfort systems, including neck and shoulder conditioners, and climate control systems for door panels and armrests. It also provides automotive cable technology, such as ready-made individual cables and ready-to-install cable networks used to connect components to power sources; battery performance solutions consist of cell connecting devices and battery cable technologies used for various types of batteries and thermal management products; valve systems for brake and engine systems, and fuel management; and electronic and software systems include electronic control units for climate and comfort systems, and electronic control units for memory seat modules and other devices. In addition, the company offers patient temperature management systems under the Blanketrol and Astotherm brands for hyper-hypothermia therapy in intensive care, normothermia in surgical procedures, and additional warming/cooling therapies. It serves light vehicle original equipment manufacturers and tier 1s, and medical industry. Gentherm Incorporated was formerly known as Amerigon Incorporated and changed its name to Gentherm Incorporated in September 2012. The company was incorporated in 1991 and is headquartered in Northville, Michigan.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.5B | $103M | $18M | $60M | 2.5% | 2.9% | -71.8% |
| 2024 | $1.5B | $171M | $65M | $35M | 10.5% | -0.9% | 61.0% |
| 2023 | $1.5B | $121M | $40M | $81M | 6.3% | 21.9% | 65.1% |
| 2022 | $1.2B | $87M | $24M | $-25M | 3.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,204.66 | 1,469.08 | 1,456.12 | 1,498.60 |
| Operating Revenue | - | 1,204.66 | 1,469.08 | 1,456.12 | 1,498.60 |
| Cost Of Revenue | - | 931.01 | 1,117.45 | 1,089.69 | 1,136.43 |
| Gross Profit | - | 273.65 | 351.62 | 366.43 | 362.18 |
| Operating Expense | - | 218.42 | 249.94 | 243.80 | 264.80 |
| Research And Development | - | 85.72 | 94.36 | 88.70 | 94.76 |
| Selling General And Administration | - | 132.69 | 155.58 | 155.11 | 170.04 |
| Total Expenses | - | 1,149.42 | 1,367.39 | 1,333.50 | 1,401.23 |
| Operating Income | - | 55.24 | 101.69 | 122.63 | 97.37 |
| Total Operating Income As Reported | - | 48.31 | 77.44 | 107.02 | 82.70 |
| EBITDA | - | 87.07 | 120.54 | 170.54 | 103.02 |
| Normalized EBITDA | - | 100.78 | 150.71 | 176.55 | 146.11 |
| EBIT | - | 42.68 | 69.60 | 117.56 | 49.65 |
| Interest Expense | - | 4.29 | 14.64 | 15.30 | 13.81 |
| Net Interest Income | - | -4.29 | -14.64 | -15.30 | -13.81 |
| Other Non Operating Income Expenses | - | 1.15 | -1.93 | 0.95 | -4.64 |
| Other Income Expense | - | -12.56 | -32.09 | -5.06 | -47.73 |
| Interest Expense Non Operating | - | 4.29 | 14.64 | 15.30 | 13.81 |
| Net Non Operating Interest Income Expense | - | -4.29 | -14.64 | -15.30 | -13.81 |
| Pretax Income | - | 38.38 | 54.95 | 102.26 | 35.84 |
| Tax Provision | - | 13.94 | 14.61 | 37.32 | 17.55 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -4.98 | -8.02 | -2.19 | -9.05 |
| Net Income Continuous Operations | - | 24.44 | 40.34 | 64.95 | 18.28 |
| Net Income From Continuing And Discontinued Operation | - | 24.44 | 40.34 | 64.95 | 18.28 |
| Net Income From Continuing Operation Net Minority Interest | - | 24.44 | 40.34 | 64.95 | 18.28 |
| Net Income | - | 24.44 | 40.34 | 64.95 | 18.28 |
| Net Income Common Stockholders | - | 24.44 | 40.34 | 64.95 | 18.28 |
| Net Income Including Noncontrolling Interests | - | 24.44 | 40.34 | 64.95 | 18.28 |
| Normalized Income | - | 33.17 | 62.48 | 68.76 | 52.32 |
| Diluted NI Availto Com Stockholders | - | 24.44 | 40.34 | 64.95 | 18.28 |
| Basic Average Shares | - | 33.13 | 32.78 | 31.29 | 30.58 |
| Diluted Average Shares | - | 33.50 | 33.07 | 31.48 | 30.93 |
| Reconciled Depreciation | - | 44.39 | 50.95 | 52.98 | 53.38 |
| Reconciled Cost Of Revenue | - | 931.01 | 1,117.45 | 1,089.69 | 1,136.43 |
| Total Unusual Items | - | -13.71 | -30.17 | -6.01 | -43.09 |
| Total Unusual Items Excluding Goodwill | - | -13.71 | -30.17 | -6.01 | -43.09 |
| Special Income Charges | - | -6.93 | -24.25 | -15.61 | -14.67 |
| Gain On Sale Of Business | 0 | - | - | - | - |
| Write Off | 0 | - | - | - | - |
| Impairment Of Capital Assets | - | 6.29 | 19.51 | 2.50 | 0 |
| Restructuring And Mergern Acquisition | - | 0.64 | 4.74 | 13.11 | 12.48 |
| Gain On Sale Of Security | - | -6.78 | -5.92 | 9.60 | -28.42 |
| Gain On Sale Of Ppe | - | - | 0 | 0 | -2.20 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Gentherm Incorporatedthis co. | THRM | $1.2B | 63.62β premium | 1.61 | 2.5% | 12.13 |
| National Vision Holdings, Inc. | EYE | $1.2B | 41.95 | 1.43 | 3.4% | 11.96 |
| O-I Glass, Inc. | OI | $1.2B | -9.54 | 0.95 | -10.0% | 7.10 |
| Pursuit Attractions and Hospitality, Inc. | PRSU | $1.2B | 53.32 | 2.08 | 3.9% | 12.49 |
| LGI Homes, Inc. | LGIH |
| - |
| - |
| - |
| - |
| - |
| $1.2B |
| 16.21 |
| 0.56 |
| 3.5% |
| 33.11 |
| Liquidity Services, Inc. | LQDT | $1.2B | 41.00 | 5.67 | 13.8% | 21.79 |
| Sally Beauty Holdings, Inc. | SBH | $1.1B | 5.84 | 1.44 | 24.7% | 5.98 |
| The RealReal, Inc. | REAL | $1.1B | -26.17 | -2.63 | 10.1% | 72.97 |
| MasterBrand, Inc. | MBC | $1.1B | 39.88 | 0.79 | 2.0% | 9.61 |
| Peer Median | - | 28.04 | 1.19 | 3.7% | 12.22 | |