Thermador Groupe SA (FR:THEP)
:THEP
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Thermador Groupe
(THEP)
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Rating:70Outperform
Price Target:
€83.00
▲(9.21% Upside)
Action:UpgradedDate:03/09/26
The score is driven primarily by strong financial quality (solid profitability, conservative leverage, and good free-cash-flow generation), supported by a reasonable valuation and dividend yield. These positives are tempered by weak technical momentum and a recent revenue slowdown alongside incomplete 2025 margin/ratio fields that reduce latest-period visibility.
Positive Factors
Free cash flow generation
Consistently positive FCF, with 2024 FCF at ~87% of net income and a 2025 step-up, indicates durable cash generation to fund capex, dividends, and strategic initiatives. Over the next 2–6 months this underpins financial flexibility, lowers refinancing risk and supports reinvestment decisions.
Negative Factors
Revenue slowdown/flatlining
After strong growth through 2023, sales softened in 2024 and stagnated in 2025, signaling weakening demand or market saturation in core premium segments. Over a 2–6 month horizon this can compress operating leverage, limit reinvestment capacity, and make sustaining growth harder without product or channel expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow generation
Consistently positive FCF, with 2024 FCF at ~87% of net income and a 2025 step-up, indicates durable cash generation to fund capex, dividends, and strategic initiatives. Over the next 2–6 months this underpins financial flexibility, lowers refinancing risk and supports reinvestment decisions.
Read all positive factors
Thermador Groupe (THEP) vs. iShares MSCI France ETF (EWQ)
Market Cap
€641.09M
Dividend Yield2.72%
Average Volume (3M)3.07K
Price to Earnings (P/E)5.4
Beta (1Y)0.54
Revenue Growth-7.15%
EPS Growth-14.86%
CountryFR
Employees761
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Distribution
Share Statistics
EPS (TTM)2.38
Shares Outstanding9,200,849
10 Day Avg. Volume3,412
30 Day Avg. Volume3,071
Financial Highlights & Ratios
PEG Ratio-8.78
Price to Book (P/B)1.75
Price to Sales (P/S)1.42
P/FCF Ratio11.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.41
Revenue Forecast (FY)€535.85M
Thermador Groupe Business Overview & Revenue Model
Company Description
Thermador Groupe SA, together with its subsidiaries, engages in the distribution business in France and internationally. The company offers central heating and domestic hot water accessories, pumps for heating, plumbing equipment, taps, valves for...
How the Company Makes Money
Thermador Groupe generates revenue primarily through the sale of its high-end kitchen appliances. The company's revenue model is built on direct sales through its extensive distribution network, which includes both retail partners and e-commerce p...
Thermador Groupe Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
81
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 501.74M | 503.88M | 580.95M | 553.86M | 486.50M |
| Gross Profit | 64.05M | 182.49M | 206.51M | 192.84M | 175.26M |
| EBITDA | 71.22M | 72.83M | 91.95M | 86.23M | 80.47M |
| Net Income | 44.06M | 44.74M | 58.30M | 58.90M | 52.90M |
Balance Sheet | |||||
| Total Assets | 568.01M | 522.11M | 522.01M | 507.16M | 436.51M |
| Cash, Cash Equivalents and Short-Term Investments | 96.96M | 63.26M | 35.24M | 16.03M | 27.38M |
| Total Debt | 51.66M | 34.02M | 46.85M | 53.09M | 32.75M |
| Total Liabilities | 161.51M | 139.72M | 163.24M | 188.33M | 157.87M |
| Stockholders Equity | 406.50M | 382.39M | 358.77M | 318.83M | 278.47M |
Cash Flow | |||||
| Free Cash Flow | 63.61M | 64.80M | 48.86M | 14.13M | 16.28M |
| Operating Cash Flow | 69.31M | 74.27M | 56.52M | 25.17M | 28.50M |
| Investing Cash Flow | -22.40M | -14.00M | -8.37M | -34.69M | -12.10M |
| Financing Cash Flow | -10.23M | -31.63M | -29.85M | -2.16M | -31.35M |
Thermador Groupe Technical Analysis
Negative
76.00
Price Trends
75.40
Negative
75.37
Negative
75.87
Negative
Market Momentum
-1.46
Negative
34.45
Neutral
62.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:THEP, the sentiment is Negative. The current price of 76 is above the 20-day moving average (MA) of 71.51, above the 50-day MA of 75.40, and above the 200-day MA of 75.87, indicating a bearish trend. The MACD of -1.46 indicates Negative momentum. The RSI at 34.45 is Neutral, neither overbought nor oversold. The STOCH value of 62.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:THEP.
Thermador Groupe Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €641.09M | 5.43 | 11.13% | 2.72% | -7.15% | -14.86% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | €423.86M | 17.83 | ― | 6.56% | 7.61% | -56.24% | |
45 Neutral | €63.49M | -1.84 | -10.74% | 9.91% | -25.59% | -218.88% | |
39 Underperform | €3.56M | -1.06 | ― | ― | -19.50% | -729.30% |
* General Sector Average
FR:THEP
Thermador Groupe
69.70
5.93
9.30%
FR:PIG
Haulotte
2.15
-0.12
-5.16%
FR:ALAIR
Groupe Airwell SAS
0.59
-0.44
-43.11%
FR:MLPLC
Placoplatre SA
575.00
82.12
16.66%
FR:ALPJT
Poujoulat SA
7.70
-1.23
-13.77%
FR:SAMS
SAMSE SA
123.00
-7.00
-5.38%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.