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Thermax Limited
NSE:THERMAX

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Thermax Limited
NSE:THERMAX
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Price: 4 077.6 INR 2.2% Market Closed
Market Cap: ₹459.3B

P/FCFE

3431.8
Current
3 497%
More Expensive
vs 3-y average of 95.4

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
3431.8
=
Market Cap
₹379.9B
/
Free Cash Flow to Equity
₹141.6m

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
3431.8
=
Market Cap
₹379.9B
/
Free Cash Flow to Equity
₹141.6m

Valuation Scenarios

Thermax Limited is trading above its 3-year average

If P/FCFE returns to its 3-Year Average (95.4), the stock would be worth ₹113.36 (97% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-99%
Maximum Upside
No Upside Scenarios
Average Downside
98%
Scenario P/FCFE Value Implied Price Upside/Downside
Current Multiple 3 431.8 ₹4 077.6
0%
3-Year Average 95.4 ₹113.36
-97%
5-Year Average 78.6 ₹93.41
-98%
Industry Average 80.8 ₹96.01
-98%
Country Average 49.7 ₹59.1
-99%

Forward P/FCFE
Today’s price vs future free cash flow to equity

Not enough data available to calculate forward P/FCFE

Peer Comparison

All Multiples
P/FCFE
P/E
All Countries
Close
Market Cap P/FCFE P/E
IN
Thermax Limited
NSE:THERMAX
485.9B INR 3 431.8 71.2
JP
Fujitec Co Ltd
TSE:6406
2 720 795.8T JPY 0 0
JP
Ishii Iron Works Co Ltd
TSE:6362
304.2T JPY 482 634.1 363 670.8
JP
Star Micronics Co Ltd
TSE:7718
48T JPY -10.4 29.8
US
Parker-Hannifin Corp
NYSE:PH
111.3B USD 27.3 31.5
JP
Freund Corp
TSE:6312
16.9T JPY 14 049.1 8 494.3
JP
Mitsubishi Heavy Industries Ltd
TSE:7011
15.4T JPY 126.6 54.9
SE
Atlas Copco AB
STO:ATCO A
848.5B SEK 34.3 32.1
US
Illinois Tool Works Inc
NYSE:ITW
73.7B USD 24.5 24
US
Barnes Group Inc
NYSE:B
65B USD 18 13
SE
Sandvik AB
STO:SAND
480.6B SEK 38.6 32.4

Market Distribution

Higher than 99% of companies in India
Percentile
99th
Based on 1 683 companies
99th percentile
3 431.8
Low
0.6 — 27.4
Typical Range
27.4 — 92
High
92 —
Distribution Statistics
India
Min 0.6
30th Percentile 27.4
Median 49.7
70th Percentile 92
Max 57 010.1

Thermax Limited
Glance View

In the bustling industrial landscape of India, Thermax Limited emerged as a beacon of innovation and efficiency, carving its niche in the realm of energy and environment solutions. Founded in 1966 by A.S. Bhathena, the company has transformed from a boiler manufacturer into a comprehensive solutions provider, driven by a vision to frame energy systems that reduce environmental impact. Operating from its headquarters in Pune, Thermax has become synonymous with sustainability. It offers a diverse portfolio ranging from heating, cooling, and power generation to water and waste management solutions, catering to a variety of industries such as steel, cement, textiles, and more. The company leverages its robust research and development arm and strategic collaborations to push the boundaries of technology, aiming to meet the growing demand for energy efficiency across the globe. Thermax’s financial lifeblood flows from its project-based engagements and product offerings. It specializes in creating tailor-made solutions that optimize resource consumption and mitigate environmental effects, resonating with businesses striving for operational efficiency and sustainability. Revenue streams are fortified by its manufacturing excellence and service network, which spans continents, ensuring that industrial giants from Asia to Africa and Europe can rely on its expertise. A significant portion of its income derives from long-term maintenance contracts and retrofitting projects that provide steady returns alongside diverse product sales. Thus, by consistently aligning its operations with global environmental standards and client-specific needs, Thermax not only fortifies its balance sheet but also cements its status as a pivotal player in the green industrial solutions market.

THERMAX Intrinsic Value
2 226.71 INR
Overvaluation 45%
Intrinsic Value
Price ₹4 077.6
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