HIGHBuilt-inProduct / Revenue mix
97%
Automotive segment
“10-K Item 1A: 'Our Automotive segment represents 97% of our product revenues for each of the years ended December 31, 2025, 2024 and 2023.'”
THRM · Concentration risk · 10-K extracted
Gentherm (THRM) concentration risks
Updated
The most significant concentration Gentherm discloses is Automotive segment at 97%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Gentherm’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 5 disclosed concentrations
HIGH2
MEDIUM0
LOW3
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inGeographic
66%
sales outside the United States
“10-K Item 1A: 'In 2025, 66% of our product revenue was generated from sales to customers outside the United States (based on shipment destination), including Europe and Asia.'”
LOWOutside partyCustomer
16%
Lear Corporation
“10-K Item 1: 'our revenues from sales to our two largest customers, Lear Corporation ("Lear") and Adient plc ("Adient") were $234 million and $164 million, respectively, representing 16% and 11% of our product revenues, respectively.'”
LOWOutside partyCustomer
11%
Adient plc
“10-K Item 1: 'our revenues from sales to our two largest customers, Lear Corporation ("Lear") and Adient plc ("Adient") were $234 million and $164 million, respectively, representing 16% and 11% of our product revenues, respectively.'”
LOWBuilt-inGeographic
5%
Ukraine manufacturing facility
“10-K Item 1A: 'In 2025, 2024 and 2023, products manufactured at our Ukraine facility represented approximately 5%, 6% and 6% of the Company's total revenue'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Gentherm's concentration profile is anchored by two high-share structural exposures and softened by several low-share customer and site items. The Automotive segment represents 97% of product revenues, a high-share structural exposure that defines the business almost entirely around one end market, and 66% of product revenue was generated from sales to customers outside the United States, including Europe and Asia, a high-share structural geographic exposure. By contrast, the two largest customers, Lear Corporation and Adient plc, represented 16% and 11% of product revenues respectively — both low-share dependency exposures — and products manufactured at the company's Ukraine facility represented approximately 5% of total revenue, a low-share structural exposure. Together, these describe a business whose structural risk (automotive-sector reliance and international sales exposure) is far larger in disclosed scale than its customer-specific or single-site risks. The Automotive and international-sales concentrations are macro-cyclical, moving with global auto production and trade conditions, while the Lear, Adient, and Ukraine exposures are comparatively minor and would not be expected to move the overall verdict on their own. The dominant theme is sector and geographic breadth of exposure rather than dependency on any single customer or facility.
For the engine’s reasoning on THRM’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Auto Parts
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ALSN | Allison Transmission Holdings, | 3 | 0 | 1 | 4 |
| THRM● | Gentherm Inc | 2 | 0 | 3 | 5 |
| APTV | Aptiv PLC | 1 | 2 | 1 | 4 |
| ALV | Autoliv, Inc. | 1 | 2 | 0 | 3 |
| ADNT | Adient plc | 0 | 1 | 0 | 1 |
| AAP | Advance Auto Parts Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.