Significance: Of the most compelling unsolved issues in the paradigm to create success in the field of breast cancer infrared imaging is localization of direct internal heat of the tumor. The contribution of differential heat production related to metabolism versus perfusion is not understood. Previous work until now has not shown progress beyond identifying veins which are fed by the hot cancer. Employing signal analysis techniques, we probe important questions which may lead to further understanding pathophysiology of heat transfer occurring in the setting of malignancy. Aim: When using thermal imaging to detect breast cancer, the dominant heat signature is that of indirect heat transported in gradient away from the tumor location. Unprocessed images strikingly display vasculature which acts to direct excess heat superficially towards the skin surface before dissipating. In current clinical use, interpretation of thermogram images considers abnormal vascular patterns and overall temperature as indicators of disease. The goal of this work is to present a processing method for dynamic external stimulus thermogram images to isolate and separate the indirect vascular heat while revealing the desired direct heat from the tumor. Approach: In dynamic thermal imaging of the breast, a timed series of images are taken following application of external temperature stimulus (most often cooled air). While the tumor heat response is thought to be independent of the external stimulus, the secondary heat of the veins is known to be affected by vasomodulation. The recorded data is analyzed using independent component analysis (ICA) and principal component analysis (PCA) methods. ICA separates the image sequence into new independent images having a common characteristic time behavior. Resulting individual components are analyzed for correspondence to the presence or lack of vasomodulation. Results: Using the Brazilian visual lab mastology data set containing dynamic thermograms, applying components analysis resulted in three corresponding images: 1. Minimum change as a function of applied temperature or time (suggests correlation with the cancer generated heat), 2. Moderate temperature dependence (suggests correlation with veins affected by vasomodulation) and 3. Complex time behavior (suggests correlation with heat absorption due to high tumor perfusion). All components appear clear and distinct. Conclusions: Applying signal processing methods to the dynamic infrared data, we found three distinct components with correspondence to understood physiologic processes. The two cases shown are self-evident of the capability of the method but are lacking supporting ground truth that is unavailable with such a limited data set. Validation of this proposed paradigm and studying furthering clinical applications has potential to create significant achievement for IR modality in diagnostic imaging.