Company / R&D Expense
Thermon Group Holdings, Inc. R&D Expense History
FY2015-FY2024 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$9.4M
FY2024
5-year range
$6.4M / $10.6M
FY2020-FY2024
Trend
-4.0%
vs FY2023
Sector context
#162 of 173
Industrials
What the data says
Among 173 Industrials companies, Thermon Group Holdings, Inc. is in the bottom 6% for r&d expense. R&D Expense has fluctuated over the past 10 years, ranging from $3M in FY2015 to $11M in FY2022.
Based on SEC 10-K filings.
$9M in FY2024 with a 5-year CAGR of +2.3%.
Declined from $11M to $9M over the past 2 years.
Industrials sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +13.5%
- 5-Year CAGR
- +2.3%
- 10-Year CAGR
- -
Sector benchmark
Bottom 6% in IndustrialsTop 94% of 173This company $9.4M Sector average $273.2M
▼
-96.6% below sector average
Key checks
Key Insights
- 5-year CAGR of +2.3%, indicating consistent growth.
- In FY2024, r&d expense decreased 4.0% year-over-year.
- Ranks #162 out of 173 companies in the Industrials sector.
- Peak r&d expense was recorded in FY2022.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2024 | $9.4M | -4.0% |
| FY2023 | $9.8M | -7.3% |
| FY2022 | $10.6M | +64.2% |
| FY2021 | $6.4M | -13.8% |
| FY2020 | $7.5M | -10.9% |
| FY2019 | $8.4M | +59.9% |
| FY2018 | $5.2M | +0.0% |
| FY2017 | $5.2M | +49.7% |
| FY2016 | $3.5M | +4.9% |
| FY2015 | $3.3M | +14.8% |
As of FY2024 · SEC 10-K · Updated Feb 28, 2026