TakeoverPE & activists

THRMGentherm Inc

Motor Vehicle Parts & Accessories · $951M market cap · 3,507 employees

0.0×

Less likely than average to be taken private

Top 94% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

1of 15 firedHow well they predict deals →
14 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    122% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    1% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    9% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    8% of assets
    Over 40% of assets
  • Shareholder dissentNo
    100% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $427K · 57th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    2.7 per 10K words · 65th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    0.5× EBITDA net debt
    More cash than debt, positive EBITDA
  • Recurring revenueNo
    —
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    —
    10-K business scored 5+ of 10 as an AI-rollup target
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months
  • Net insider sellingNo
    $420K net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Feb 27, 20268-KModine Manufacturing Company——

Key numbers

Revenue
$1.5BFY2021: $1.0BFY2022: $1.2BFY2023: $1.5BFY2024: $1.5BFY2025: $1.5B
2.9% YoY
Operating margin
5.5%FY2021: 11.0%FY2022: 4.0%FY2023: 5.3%FY2024: 7.3%FY2025: 5.5%
25% YoY
EBITDA
$136MFY2021: $154MFY2022: $93MFY2023: $128MFY2024: $160MFY2025: $136M
15% YoY
Net debt / EBITDA
0.5×
$67M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$1.0B$1.2B$1.5B$1.5B$1.5B 2.9% FY2021: $1.0BFY2022: $1.2BFY2023: $1.5BFY2024: $1.5BFY2025: $1.5B
Operating income$115M$48M$77M$107M$83M 23% FY2021: $115MFY2022: $48MFY2023: $77MFY2024: $107MFY2025: $83M
Operating cash flow$143M$15M$119M$110M$117M 6.5% FY2021: $143MFY2022: $15MFY2023: $119MFY2024: $110MFY2025: $117M
Capex$38M$40M$38M$73M$56M 24% FY2021: $38MFY2022: $40MFY2023: $38MFY2024: $73MFY2025: $56M
Stock-based comp$15M$7M$12M$10M$12M 18% FY2021: $15MFY2022: $7MFY2023: $12MFY2024: $10MFY2025: $12M
Buybacks$20M—$91M$52M$10M 81% FY2021: $20MFY2023: $91MFY2024: $52MFY2025: $10M

13D filers

None on file.

Insider trading

+$420Knet buying by insiders, open market, last 12 months
Bought $663K · 2 tradesSold $243K · 2 trades

Pay vs performance

No pay-versus-performance disclosure yet.