TMG Fundamental Analysis - THERMAL ENERGY INTL INC

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to TMG. TMG was compared to 24 industry peers in the Machinery industry. While TMG is still in line with the averages on profitability rating, there are concerns on its financial health. TMG is valued correctly, but it does not seem to be growing.

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1. Profitability

1.1 Basic Checks

In the past year TMG has reported negative net income.

In the past year TMG has reported a negative cash flow from operations.

Of the past 5 years TMG 4 years were profitable.

In multiple years TMG reported negative operating cash flow during the last 5 years.

1.2 Ratios

With an excellent Return On Assets value of 0.61%, TMG belongs to the best of the industry, outperforming 91.67% of the companies in the same industry.

With an excellent Return On Equity value of 2.05%, TMG belongs to the best of the industry, outperforming 91.67% of the companies in the same industry.

TMG has a better Return On Invested Capital (8.62%) than 75.00% of its industry peers.

The Average Return On Invested Capital over the past 3 years for TMG is significantly above the industry average of 7.34%.

		Industry Rank	Sector Rank
ROA	0.61%
ROE	2.05%
ROIC	8.62%

ROA(3y)3.82%

ROA(5y)-1.37%

ROE(3y)21.78%

ROE(5y)-21.32%

ROIC(3y)12.36%

ROIC(5y)N/A

1.3 Margins

TMG has a better Profit Margin (0.25%) than 87.50% of its industry peers.

TMG's Operating Margin of 1.78% is in line compared to the rest of the industry. TMG outperforms 50.00% of its industry peers.

In the last couple of years the Operating Margin of TMG has declined.

Looking at the Gross Margin, with a value of 41.45%, TMG belongs to the top of the industry, outperforming 91.67% of the companies in the same industry.

TMG's Gross Margin has been stable in the last couple of years.

		Industry Rank	Sector Rank
OM	1.78%
PM (TTM)	0.25%
GM	41.45%

OM growth 3YN/A

OM growth 5Y-21.43%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-0.69%

GM growth 5Y-0.17%

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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 TMG is still creating some value.

The number of shares outstanding for TMG has been increased compared to 1 year ago.

Compared to 5 years ago, TMG has more shares outstanding

The debt/assets ratio for TMG has been reduced compared to a year ago.

2.2 Solvency

Based on the Altman-Z score of 0.55, we must say that TMG is in the distress zone and has some risk of bankruptcy.

TMG's Altman-Z score of 0.55 is on the low side compared to the rest of the industry. TMG is outperformed by 66.67% of its industry peers.

TMG has a Debt/Equity ratio of 0.24. This is a healthy value indicating a solid balance between debt and equity.

TMG has a Debt to Equity ratio of 0.24. This is in the better half of the industry: TMG outperforms 66.67% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.24
Debt/FCF	N/A
Altman-Z	0.55

ROIC/WACC0.94

WACC9.14%

2.3 Liquidity

TMG has a Current Ratio of 1.32. This is a normal value and indicates that TMG is financially healthy and should not expect problems in meeting its short term obligations.

TMG has a Current ratio of 1.32. This is in the lower half of the industry: TMG underperforms 70.83% of its industry peers.

A Quick Ratio of 1.08 indicates that TMG should not have too much problems paying its short term obligations.

TMG has a Quick ratio (1.08) which is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Current Ratio	1.32
Quick Ratio	1.08

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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

The earnings per share for TMG have decreased strongly by -91.67% in the last year.

Looking at the last year, TMG shows a quite strong growth in Revenue. The Revenue has grown by 15.07% in the last year.

TMG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.82% yearly.

EPS 1Y (TTM)-91.67%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-33.33%

Revenue 1Y (TTM)15.07%

Revenue growth 3Y23.24%

Revenue growth 5Y6.82%

Sales Q2Q%-9.34%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.

No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.

EPS Next Y200.99%

EPS Next 2YN/A

EPS Next 3YN/A

EPS Next 5YN/A

Revenue Next Year40.92%

Revenue Next 2YN/A

Revenue Next 3YN/A

Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.

No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Forward Earnings ratio is 4.47, which indicates a rather cheap valuation of TMG.

100.00% of the companies in the same industry are more expensive than TMG, based on the Price/Forward Earnings ratio.

When comparing the Price/Forward Earnings ratio of TMG to the average of the S&P500 Index (22.94), we can say TMG is valued rather cheaply.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	4.47

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of TMG is on the same level as its industry peers.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	17.84

4.3 Compensation for Growth

TMG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.

The decent profitability rating of TMG may justify a higher PE ratio.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2YN/A

EPS Next 3YN/A

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5. Dividend

5.1 Amount

TMG does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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THERMAL ENERGY INTL INC

TSX-V:TMG (10/17/2025, 7:00:00 PM)

0.14

0 (0%)

Chartmill FA Rating

GICS SectorIndustrials

GICS IndustryGroupCapital Goods

GICS IndustryMachinery

Earnings (Last)09-23 2025-09-23

Earnings (Next)10-28 2025-10-28

Inst Owners1.39%

Inst Owner ChangeN/A

Ins Owners6.84%

Ins Owner ChangeN/A

Market Cap24.24M

Analysts84.44

Price Target0.31 (121.43%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly Dividend0

Dividend Growth(5Y)24.57%

DP79.23%

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)N/A

Avg EPS beat(2)N/A

Min EPS beat(2)N/A

Max EPS beat(2)N/A

EPS beat(4)N/A

Avg EPS beat(4)N/A

Min EPS beat(4)N/A

Max EPS beat(4)N/A

EPS beat(8)N/A

Avg EPS beat(8)N/A

EPS beat(12)N/A

Avg EPS beat(12)N/A

EPS beat(16)N/A

Avg EPS beat(16)N/A

Revenue beat(2)N/A

Avg Revenue beat(2)N/A

Min Revenue beat(2)N/A

Max Revenue beat(2)N/A

Revenue beat(4)N/A

Avg Revenue beat(4)N/A

Min Revenue beat(4)N/A

Max Revenue beat(4)N/A

Revenue beat(8)N/A

Avg Revenue beat(8)N/A

Revenue beat(12)N/A

Avg Revenue beat(12)N/A

Revenue beat(16)N/A

Avg Revenue beat(16)N/A

PT rev (1m)0%

PT rev (3m)0%

EPS NQ rev (1m)N/A

EPS NQ rev (3m)N/A

EPS NY rev (1m)0%

EPS NY rev (3m)0%

Revenue NQ rev (1m)N/A

Revenue NQ rev (3m)N/A

Revenue NY rev (1m)0%

Revenue NY rev (3m)0%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	4.47
P/S	0.81
P/FCF	N/A
P/OCF	N/A
P/B	6.79
P/tB	7.87
EV/EBITDA	17.84

EPS(TTM)0

EYN/A

EPS(NY)0.03

Fwd EY22.37%

FCF(TTM)-0.01

FCFYN/A

OCF(TTM)-0.01

OCFYN/A

SpS0.17

BVpS0.02

TBVpS0.02

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	0.61%
ROE	2.05%
ROCE	11.98%
ROIC	8.62%
ROICexc	23.38%
ROICexgc	33.44%
OM	1.78%
PM (TTM)	0.25%
GM	41.45%
FCFM	N/A

ROA(3y)3.82%

ROA(5y)-1.37%

ROE(3y)21.78%

ROE(5y)-21.32%

ROIC(3y)12.36%

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)17.16%

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5Y-34.4%

OM growth 3YN/A

OM growth 5Y-21.43%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-0.69%

GM growth 5Y-0.17%

F-Score3

Asset Turnover2.49

Health

		Industry Rank	Sector Rank
Debt/Equity	0.24
Debt/FCF	N/A
Debt/EBITDA	0.67
Cap/Depr	10.23%
Cap/Sales	0.26%
Interest Coverage	1.8
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	1.32
Quick Ratio	1.08
Altman-Z	0.55

F-Score3

WACC9.14%

ROIC/WACC0.94

Cap/Depr(3y)25.12%

Cap/Depr(5y)29.69%

Cap/Sales(3y)0.7%

Cap/Sales(5y)1.03%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-91.67%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-33.33%

EPS Next Y200.99%

EPS Next 2YN/A

EPS Next 3YN/A

EPS Next 5YN/A

Revenue 1Y (TTM)15.07%

Revenue growth 3Y23.24%

Revenue growth 5Y6.82%

Sales Q2Q%-9.34%

Revenue Next Year40.92%

Revenue Next 2YN/A

Revenue Next 3YN/A

Revenue Next 5YN/A

EBIT growth 1Y-66.6%

EBIT growth 3YN/A

EBIT growth 5Y-16.08%

EBIT Next Year1505.84%

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y-134.87%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-130.99%

OCF growth 3YN/A

OCF growth 5YN/A

THERMAL ENERGY INTL INC (TMG.CA) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

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2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

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3. Growth

3.1 Past

3.2 Future

3.3 Evolution

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4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

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