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Thermax Ltd
₹4702.40
(0.13%)
Wed, 24 Jun 2026, 09:38 pm
Producer Manufacturing
Industrial Machinery
24.5KThermax Ratios
| Particulars | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings ratio | 39.12 | 23.58 | 24.63 | 7.46 | 56.24 | 18.81 | 13.71 | 21.16 | 36.22 | 60.47 | 30.06 | 48.88 | 54.86 | 33.64 | 39.19 | 73.38 | 70.06 | 57.28 | 73.25 | 64.89 |
| Price to book ratio | 8.08 | 7.74 | 9.43 | 2.17 | 7.53 | 5.46 | 3.40 | 3.63 | 4.37 | 5.94 | 3.72 | 4.30 | 4.69 | 3.63 | 2.75 | 4.66 | 6.26 | 6.67 | 10.64 | 8.34 |
| Price to sales ratio | 2.33 | 2 | 2.09 | 0.63 | 2.48 | 1.37 | 0.91 | 1.25 | 1.78 | 2.38 | 1.67 | 2.47 | 2.90 | 1.85 | 1.47 | 3.20 | 3.59 | 3.20 | 5.10 | 4 |
| Price to cash flow ratio | 17.06 | 11.86 | 40.82 | 11.97 | 12.07 | 40.28 | 18.77 | 66.76 | 26 | 42.95 | 27.53 | 30.79 | 23.63 | 0 | 24.43 | 19.33 | 54.73 | 51.23 | 187.29 | 44.23 |
| Enterprise value | 3663Cr | 4474Cr | 7103Cr | 1789Cr | 7463Cr | 6628Cr | 4979Cr | 6546Cr | 8640Cr | 12178Cr | 7497Cr | 9957Cr | 11451Cr | 10044Cr | 7279Cr | 13432Cr | 20527Cr | 24102Cr | 46204Cr | 40171Cr |
| Enterprise value to EBITDA ratio | 23.61 | 17.02 | 18.90 | 3.93 | 23.97 | 12.89 | 7.72 | 14.20 | 20.24 | 27.90 | 17.54 | 24.07 | 34.52 | 22.90 | 20.70 | 41.82 | 54.12 | 38.43 | 56.90 | 44.81 |
| Debt to equity ratio | 0.02 | 0 | 0 | 0 | 0.01 | 0.11 | 0.17 | 0.23 | 0.37 | 0.29 | 0.08 | 0.05 | 0.09 | 0.08 | 0.08 | 0.10 | 0.11 | 0.21 | 0.29 | 0.35 |
| Return on equity % | 22.39 | 36.92 | 43.09 | 32.99 | 13.94 | 31.90 | 27.41 | 18.30 | 12.59 | 10.06 | 12.41 | 9 | 8.84 | 11.36 | 7.03 | 6.58 | 9.26 | 12.24 | 15.53 | 13.53 |
Thermax Ltd Ratios
The Thermax Ltd Ratios page provides a complete fundamental analysis of Thermax Ltd using key valuation, profitability, and financial strength metrics. Investors tracking Thermax Ltd Ratios closely monitor D/E, EV, EV/EBITDA, P/B, P/CF, P/E, P/S, and ROE% to evaluate the company's financial performance and valuation trends over time.
Thermax Ltd (NSE: THERMAX, BSE: 500411) is currently trading at ₹4702.40, with a market capitalization of ₹56083.89Cr. As a major player in the Producer manufacturing sector and Industrial machinery industry, Thermax Ltd remains a key stock for fundamental analysis using Thermax Ltd Ratios.
Thermax Ltd Ratios: Valuation Overview
Price to Earnings Ratio (P/E)
The Thermax Ltd P/E ratio currently stands at 64.89, making it one of the most tracked metrics in Thermax Ltd Ratios.
Historically, the Thermax Ltd P/E ratio has shown strong fluctuations:
- 2024: 64.89
- 2023: 73.25
- 2022: 57.28
- 2021: 70.06
- 2020: 73.38
The decline in Thermax Ltd P/E ratio suggests improving earnings relative to stock price.
Price to Book Ratio (P/B)
The Thermax Ltd P/B ratio reflects how the market values the company's net assets. Current P/B ratio is 8.34.
Historical P/B trend:
- 2024: 8.34
- 2023: 10.64
- 2022: 6.67
- 2021: 6.26
Thermax Ltd is trading at a premium to its book value, indicating strong market confidence.
Price to Sales Ratio (P/S)
The Thermax Ltd P/S ratio currently stands at 4, an important part of Thermax Ltd Ratios for revenue valuation.
Historical P/S ratio:
- 2024: 4
- 2023: 5.10
- 2022: 3.20
- 2021: 3.59
A stable or declining Thermax Ltd P/S ratio indicates cautious market sentiment.
Thermax Ltd Price to Cash Flow Ratio (P/CF)
The Thermax Ltd Price to Cash Flow Ratio is a key valuation metric that shows how much investors pay for each unit of cash flow. Current P/CF ratio is 44.23.
Historical Thermax Ltd Price to Cash Flow Ratio:
- 2024: 44.23
- 2023: 187.29
- 2022: 51.23
- 2021: 54.73
- 2020: 19.33
The declining Thermax Ltd Price to Cash Flow Ratio suggests improving cash flow strength.
Thermax Ltd Enterprise Value Ratios
Enterprise Value (EV)
The Thermax Ltd EV currently stands at ₹40171Cr, representing the total company valuation including debt.
Historical EV trend:
- 2024: 40171Cr
- 2023: 46204Cr
- 2022: 24102Cr
- 2021: 20527Cr
Thermax Ltd enterprise value consolidation suggests stable valuation.
EV/EBITDA Ratio
The Thermax Ltd EV/EBITDA ratio is currently 44.81, a key metric in Thermax Ltd Ratios to assess valuation relative to earnings.
Historical EV/EBITDA:
- 2024: 44.81
- 2023: 56.90
- 2022: 38.43
- 2021: 54.12
Stable Thermax Ltd EV/EBITDA indicates balanced valuation.
Thermax Ltd Financial Strength Ratios
Debt to Equity Ratio (D/E)
The Thermax Ltd D/E ratio is currently 0.35, reflecting leverage and financial stability.
Historical D/E:
- 2024: 0.35
- 2023: 0.29
- 2022: 0.21
- 2021: 0.11
Thermax Ltd maintains a strong balance sheet with low debt levels.
Return on Equity (ROE %)
The Thermax Ltd ROE currently stands at 13.53%, showing profitability and capital efficiency.
Historical ROE:
- 2024: 13.53
- 2023: 15.53
- 2022: 12.24
- 2021: 9.26
Thermax Ltd maintains stable profitability levels.
Thermax Ltd Ratios Analysis Summary
The Thermax Ltd Ratios page provides a comprehensive view of the company's valuation and financial performance. Key metrics such as P/E, P/B, P/S, P/CF, EV, EV/EBITDA, D/E, and ROE help investors understand whether Thermax Ltd stock is undervalued, fairly valued, or overvalued.
Tracking Thermax Ltd Ratios regularly helps investors make informed decisions based on valuation trends, financial stability, and long-term growth potential.