Gentherm Incorporated (THRM) Stock

Gentherm Incorporated (THRM) is a Consumer Discretionary stock trading at $42.10 (as of 2026-07-27), with a market capitalization of $1.29B and a trailing P/E of 46.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Gentherm Incorporated designs, develops, manufactures, and markets thermal management technologies. It operates in two segments—Automotive and Medical—and the Automotive segment provides climate comfort systems and related electronics and software, as well as battery performance and thermal management solutions.

Understand Gentherm Incorporated: how it makes money

Gentherm designs, develops, manufactures, and markets thermal management technologies, selling automotive climate comfort systems (such as seat heaters and steering wheel heaters, including integrated electronic control components) and medical thermal management technologies.

Profitability depends on winning automotive “new business awards” and then converting those awards into program launches and ongoing production revenue from climate comfort systems.

Revenue by segment (latest quarter)
Automotive	$0.4B
Medical	$0.0B

Business quality (Weak): The business is heavily weighted to Automotive (most of revenue) with a thin operating margin (2.9%), so execution on new awards and translating them into launches matters, while Medical is currently a small portion of sales (about 0.01B).

Valuation: At 49× earnings, THRM trades 143% above the Automobiles & Trucks average (20×). Note: one-time items can distort reported P/E.

Bull case

Clear operating pipeline signal: New Automotive Business Awards Secured are listed at 0.67B, and New Program Launches are 17.0, supporting visibility into future automotive demand for thermal management solutions.
Automotive product breadth inside climate comfort systems: Automotive offerings include climate comfort systems such as seat heaters, blowers, thermoelectric devices, and steering wheel heaters, plus integrated electronic control units using proprietary technology and software.
Some diversification into Medical: The company has a Medical segment, with Medical Segment Revenue of 0.01B, providing at least some non-Automotive exposure.

Bear case

Operating margin is low: Operating margin is 2.9%, which suggests limited profitability cushion if costs or demand fluctuate.
High reliance on Automotive: Automotive Segment Revenue is 0.36B versus Medical at 0.01B, so Automotive execution and customer vehicle production rhythms likely dominate results.
New awards may not immediately translate into revenue: Even with New Automotive Business Awards Secured at 0.67B and New Program Launches at 17.0, the timing of awards converting into product revenue can affect near-term performance.

Valuation — source: SEC EDGAR (first-party)
Price	$42.10
Market Cap	$1.29B
P/E Ratio	46.4
EV / EBITDA	8.8
Price / Book	1.79
Price / Sales	0.81
FCF Yield	1.6%
DCF Value (model)	$20.77
DCF Upside vs Price	-50.7%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.50B
Net Margin	1.2%
Revenue Growth (YoY)	2.9%
EPS Growth (YoY)	-71.2%
FCF Growth (YoY)	68.2%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.45 (safe)
Piotroski F-Score	5/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	46.4
Sector P/E (Consumer Discretionary)	21.8
Industry P/E (Automobiles & Trucks)	18.8
vs Sector	112.7%
vs Industry	147.5%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($130.48M)
Institutional Holders Tracked	10

Company
Sector	Consumer Discretionary
Industry	Automobiles & Trucks
CEO	William T. Presley
Employees	14,000
Country	US
IPO Date	1993-06-10

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Data as of 2026-07-27.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.