Short answer
Gentherm Inc (THRM) filed its fiscal 2025 10-K annual report with the SEC on Feb 19, 2026. It reported revenue of $1.5B (+2.9% year over year) and net income of $18M.
- Top risk flagged: Regulatory risk from U.S. tariffs since March 2025 with uncertain duration and impact on costs and supply chains amid ongoing trade disputes
FY2025 key financial metrics · XBRL
- Revenue
- $1.5B
- +2.9% YoY
- Net income
- $18M
- −71.8% YoY
- Operating margin
- 5.5%
- −1.8 pp YoY
- Gross margin
- 24.2%
- −1.0 pp YoY
- EPS (diluted)
- $0.59
- −71.4% YoY
- ROE
- 2.5%
- −8.0 pp YoY
- Operating cash flow
- $117M
- +6.5% YoY
Source: XBRL data from the Gentherm Inc (THRM) FY2025 10-K on SEC EDGAR. USD.
Gentherm Inc FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Thermal management solutions for Automotive and Medical sectors
- New emphasis on 2024 Stock Repurchase Program with $150 million authorization over three years
- Repurchased $10 million of common stock in 2025 at average price $26.24 per share
- $110.1 million repurchase authorization remaining as of December 31, 2025
- Maintains two reportable segments: Automotive and Medical, consistent with prior year
Management Discussion & Analysis
- Revenue $1.499B in 2025, up 2.9% YoY from $1.456B, driven by automotive volume and FX gains
- Operating income $82.7M in 2025 vs $107.0M in 2024; operating margin 5.5% vs 7.3%; gross margin 24.2% vs 25.2%
- Best segment: Lumbar and Massage Comfort Solutions revenue up 18.8% to $212.2M; worst segment: Other Automotive down 19.1% to $118.9M
- Operating cash flow $116.8M; capex $55.7M; share repurchase $10.0M; net debt repayment $31.1M in 2025
- 2026 capital expenditure guidance $45M-$55M; restructuring cash costs $10M-$13M; Modine transaction bridge loan of $790M commitment
Risk Factors
- Regulatory risk from U.S. tariffs since March 2025 with uncertain duration and impact on costs and supply chains amid ongoing trade disputes
- Geopolitical risk from Russia-Ukraine conflict and tensions in South China Sea disrupting ocean freight and potentially reducing regional automotive production
- Operational risk due to significant fixed structural costs causing high sensitivity to even small global vehicle production volume changes
- Competitive risk from fluctuating global light vehicle production: 2025 volumes up 3.7% YoY but forecasted 1.0% decrease in 2026 per S&P Global Mobility
- Financial risk from $790 million bridge loan facility to fund Modine transaction, with contingent indebtedness moving to Gentherm’s subsidiary post-merger
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