This article provides a critical realist (CR) alternative to the standard approaches to Thematic Analysis (TA) in qualitative research, namely the Braun-Clarke approach (reflexivity while coding themes), the Attride-Sterling approach (clustering basic, global and organizing themes), and Boyatzis' approach (clarifying criteria for assessing the absence/presence of themes in the raw material). In the CR traditions, the experiential themes /inferential themes /dispositional themes and the data/codes/themes distinctions have been proposed recently as the methodological device for answering the question “what is the (...) theme”. The aim of this article is threefold. First, I bring to light the inconsistencies of the non-CR approaches to TA, second, I discuss critically the CR approaches to TA and finally I offer a CR-based approach to TA which builds upon them by introducing specific innovations from social network analysis which make abductive and retroductive reasoning a shareable procedure for answering “what is the theme?”. (shrink)