Is NPWR or THR more undervalued in 2026?

CirclFi compares NET Power Inc. (NPWR) and Thermon Group Holdings, Inc. (THR) using 13 institutional-grade valuation models. NPWR has a Quality of Company score of 4.5/10 while THR scores 10.0/10.

Which is a better buy — NPWR or THR?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NPWR and THR valuations compare?

NPWR at $2.01 and THR at $61.14 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NPWR vs THR Valuation Comparison 2026 — Intrinsic Value Analysis

NPWR

Electrical Industrial Apparatus

NET Power Inc.

Quality

4.5

out of 10

Value Trap

WARN

Price

$2.01

Last close

Models

8/13

Active

THR

Electrical Industrial Apparatus

Thermon Group Holdings, Inc.

Quality

10.0

out of 10

Value Trap

SAFE

Price

$61.14

Last close

Models

12/13

Active

Model-by-Model Comparison

Model	Type	NPWR Fair Value	NPWR Upside	THR Fair Value	THR Upside
Bayesian DCF	Intrinsic	—	—	$10.89	-82.2%
Earnings Power Value	Intrinsic	—	—	$9.65	-84.2%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$0.13	-93.2%	$24.29	-60.3%
Dynamic NAV	Asset-Based	$0.38	-81.2%	$3.08	-95.0%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NPWR vs THR — Which Stock Is More Undervalued?

THR scores higher with a 10.0/10 quality rating vs NPWR's 4.5/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing NET Power Inc. (NPWR) and Thermon Group Holdings, Inc. (THR) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NPWR currently trades at $2.01 with a QOC of 4.5/10, while THR trades at $61.14 with a QOC of 10.0/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).