Standard Motor Products vs Gentherm
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The short version
- Standard Motor Products is the larger business, with $1.8B of revenue in fiscal 2025 against $1.5B for Gentherm.
- Standard Motor Products grew revenue faster (22.4%, against 2.9%).
- Standard Motor Products kept more of each dollar of sales as operating profit (7.6% operating margin, against 5.5%).
- Gentherm turned more of its sales into free cash flow (4.1% FCF margin, against 1.0%).
- Standard Motor Products earned a higher return on the capital invested in it (8.3%, against 5.8%).
- Investors pay more for each dollar of Gentherm’s earnings: a P/E of 98.6x against 16.6x for Standard Motor Products.
| Latest fiscal year | SMP · FY25 | THRM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $853M | $878M |
| Revenue | $1.8B | $1.5B |
| Free cash flow | $18.7M | $61.1M |
| Net income | $41.3M | $18.3M |
| Growth | ||
| Revenue growth | 22.4% | 2.9% |
| 5-year growth | 9.7% | 10.4% |
| Share count change | 1.1% | −1.7% |
| Profitability | ||
| Gross margin | 31.2% | 24.2% |
| Operating margin | 7.6% | 5.5% |
| Net margin | 2.3% | 1.2% |
| FCF margin | 1.0% | 4.1% |
| Return on capital | 8.3% | 5.8% |
| Return on equity | 6.4% | 2.7% |
| Balance sheet | ||
| Net debt | $547M | $28.3M |
| Net debt / EBITDA | 3.0x | 0.2x |
| Dividends and buybacks | $27.3M | $10.0M |
| Valuation & quality | ||
| P/E | 16.6x | 98.6x |
| Piotroski F-score | 7 | 6 |
Revenue
FY16
SMP $1.1B
THRM $918M
FY17
SMP $1.1B
THRM $994M
FY18
SMP $1.1B
THRM $1.0B
FY19
SMP $1.1B
THRM $972M
FY20
SMP $1.1B
THRM $913M
FY21
SMP $1.3B
THRM $1.0B
FY22
SMP $1.4B
THRM $1.2B
FY23
SMP $1.4B
THRM $1.5B
FY24
SMP $1.5B
THRM $1.5B
FY25
SMP $1.8B
THRM $1.5B
SMP
THRM
Operating margin
FY16
SMP 9.3%
THRM 11.6%
FY17
SMP 8.7%
THRM 9.8%
FY18
SMP 7.4%
THRM 6.9%
FY19
SMP 8.3%
THRM 8.7%
FY20
SMP 9.7%
THRM 9.8%
FY21
SMP 9.9%
THRM 11.0%
FY22
SMP 7.6%
THRM 4.0%
FY23
SMP 6.8%
THRM 5.3%
FY24
SMP 5.5%
THRM 7.4%
FY25
SMP 7.6%
THRM 5.5%
SMP
THRM
Free cash flow
FY16
SMP $76.9M
THRM $42.1M
FY17
SMP $40.2M
THRM −$0.9M
FY18
SMP $50.1M
THRM $76.9M
FY19
SMP $60.7M
THRM $95.1M
FY20
SMP $80.1M
THRM $93.5M
FY21
SMP $59.7M
THRM $105M
FY22
SMP −$53.5M
THRM −$24.8M
FY23
SMP $116M
THRM $81.7M
FY24
SMP $32.7M
THRM $36.3M
FY25
SMP $18.7M
THRM $61.1M
SMP
THRM
Return on capital
FY16
SMP 15.7%
THRM 18.6%
FY17
SMP 11.4%
THRM 9.4%
FY18
SMP 13.5%
THRM 8.9%
FY19
SMP 14.1%
THRM 12.7%
FY20
SMP 14.9%
THRM 12.7%
FY21
SMP 15.6%
THRM 18.7%
FY22
SMP 9.9%
THRM 4.9%
FY23
SMP 8.9%
THRM 7.7%
FY24
SMP 6.2%
THRM 9.6%
FY25
SMP 8.3%
THRM 5.8%
SMP
THRM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.