Gentherm Inc (THRM) FY2025 10-K Annual Report
Gentherm Inc (THRM) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 19, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Gentherm Inc FY2025 10-K Analysis
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
Gentherm Inc FY2025 Key Financial MetricsXBRL
Revenue
$1.5B
▲ +2.9% YoY
Net Income
$18M
▼ -71.8% YoY
Gross Margin
24.2%
▼ -100bp YoY
Operating Margin
5.5%
▼ -183bp YoY
Net Margin
1.2%
▼ -324bp YoY
ROE
2.5%
▼ -799bp YoY
Total Assets
$1.4B
▲ +11.9% YoY
EPS (Diluted)
$0.59
▼ -71.4% YoY
Operating Cash Flow
$117M
▲ +6.5% YoY
Source: XBRL data from Gentherm Inc FY2025 10-K filing on SEC EDGAR. All figures in USD.
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