Overall Score

Valuation Risk

THR trades at a premium valuation with P/E around 45.3x, P/S around 3.8x, and EV/EBITDA around 22.4x.

Free cash flow valuation remains stretched at roughly 61.3x price-to-free-cash-flow.

Balance Sheet Liquidity

Liquidity remains solid with a current ratio of 2.69x and quick ratio of 1.76x.

Leverage is manageable with debt-to-equity of 0.29x and net debt-to-EBITDA of 1.12x.

Profitability Cash Flow

Operating margins are healthy, with EBIT margin at 13.5% and EBITDA margin at 17.7%.

Cash conversion is mixed, with operating cash flow margin at 8.7% and free cash flow yield at 1.6%.

Working Capital Operating Efficiency

Working capital is positive at $214.4M, supporting day-to-day operations.

The cash conversion cycle is long at about 199.5 days, driven by 103.6 days sales outstanding and 147.1 days inventory outstanding.

Capital Allocation Shareholder Returns

Capital spending is moderate, with capex at about 30.0% of operating cash flow.

The company does not currently pay a dividend, leaving returns dependent on reinvestment and earnings growth.