Taking everything into account, THR scores 6 out of 10 in our fundamental rating. THR was compared to 91 industry peers in the Electrical Equipment industry. THR has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. THR has a correct valuation and a medium growth rate. These ratings would make THR suitable for quality investing!

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

THR had positive earnings in the past year.
THR had a positive operating cash flow in the past year.
Each year in the past 5 years THR has been profitable.
THR had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

With an excellent Return On Assets value of 7.59%, THR belongs to the best of the industry, outperforming 82.42% of the companies in the same industry.
THR has a Return On Equity of 11.46%. This is amongst the best in the industry. THR outperforms 82.42% of its industry peers.
Looking at the Return On Invested Capital, with a value of 9.15%, THR belongs to the top of the industry, outperforming 83.52% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for THR is in line with the industry average of 9.88%.
The 3 year average ROIC (8.99%) for THR is below the current ROIC(9.15%), indicating increased profibility in the last year.

		Industry Rank	Sector Rank
ROA	7.59%
ROE	11.46%
ROIC	9.15%

ROA(3y)6.33%

ROA(5y)4.46%

ROE(3y)9.9%

ROE(5y)7%

ROIC(3y)8.99%

ROIC(5y)6.64%

1.3 Margins

With an excellent Profit Margin value of 11.60%, THR belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
THR's Profit Margin has improved in the last couple of years.
THR's Operating Margin of 15.93% is amongst the best of the industry. THR outperforms 89.01% of its industry peers.
In the last couple of years the Operating Margin of THR has grown nicely.
THR's Gross Margin of 45.31% is amongst the best of the industry. THR outperforms 91.21% of its industry peers.
THR's Gross Margin has been stable in the last couple of years.

		Industry Rank	Sector Rank
OM	15.93%
PM (TTM)	11.6%
GM	45.31%

OM growth 3Y16.37%

OM growth 5Y13.34%

PM growth 3Y23.88%

PM growth 5Y28.19%

GM growth 3Y4.69%

GM growth 5Y1.21%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so THR is still creating some value.
The number of shares outstanding for THR has been reduced compared to 1 year ago.
Compared to 5 years ago, THR has more shares outstanding
The debt/assets ratio for THR has been reduced compared to a year ago.

2.2 Solvency

An Altman-Z score of 5.33 indicates that THR is not in any danger for bankruptcy at the moment.
THR has a better Altman-Z score (5.33) than 78.02% of its industry peers.
THR has a debt to FCF ratio of 2.77. This is a good value and a sign of high solvency as THR would need 2.77 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 2.77, THR belongs to the best of the industry, outperforming 82.42% of the companies in the same industry.
A Debt/Equity ratio of 0.26 indicates that THR is not too dependend on debt financing.
THR's Debt to Equity ratio of 0.26 is fine compared to the rest of the industry. THR outperforms 62.64% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.26
Debt/FCF	2.77
Altman-Z	5.33

ROIC/WACC1.07

WACC8.55%

2.3 Liquidity

A Current Ratio of 2.82 indicates that THR has no problem at all paying its short term obligations.
THR's Current ratio of 2.82 is fine compared to the rest of the industry. THR outperforms 74.73% of its industry peers.
A Quick Ratio of 1.74 indicates that THR should not have too much problems paying its short term obligations.
THR has a better Quick ratio (1.74) than 72.53% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	2.82
Quick Ratio	1.74

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

THR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 20.12%, which is quite impressive.
Measured over the past years, THR shows a very strong growth in Earnings Per Share. The EPS has been growing by 20.83% on average per year.
THR shows a small growth in Revenue. In the last year, the Revenue has grown by 3.08%.
The Revenue has been growing slightly by 5.37% on average over the past years.

EPS 1Y (TTM)20.12%

EPS 3Y29.28%

EPS 5Y20.83%

EPS Q2Q%44.74%

Revenue 1Y (TTM)3.08%

Revenue growth 3Y11.89%

Revenue growth 5Y5.37%

Sales Q2Q%14.89%

3.2 Future

The Earnings Per Share is expected to grow by 8.80% on average over the next years. This is quite good.
The Revenue is expected to grow by 4.73% on average over the next years.

EPS Next Y11.61%

EPS Next 2Y8.8%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue Next Year4.67%

Revenue Next 2Y4.73%

Revenue Next 3YN/A

Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.

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4. Valuation

4.1 Price/Earnings Ratio

THR is valuated rather expensively with a Price/Earnings ratio of 23.21.
THR's Price/Earnings ratio is rather cheap when compared to the industry. THR is cheaper than 84.62% of the companies in the same industry.
When comparing the Price/Earnings ratio of THR to the average of the S&P500 Index (28.41), we can say THR is valued inline with the index average.
With a Price/Forward Earnings ratio of 21.17, THR is valued on the expensive side.
Based on the Price/Forward Earnings ratio, THR is valued cheaper than 82.42% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 25.64. THR is around the same levels.

		Industry Rank	Sector Rank
PE	23.21
Fwd PE	21.17

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, THR is valued cheaper than 84.62% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, THR is valued cheaply inside the industry as 81.32% of the companies are valued more expensively.

		Industry Rank	Sector Rank
P/FCF	30.88
EV/EBITDA	15.37

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates THR does not grow enough to justify the current Price/Earnings ratio.
THR has an outstanding profitability rating, which may justify a higher PE ratio.