Trex Company, Inc. (TREX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.63	$0.62	-1.6%	—	$418M	—
Q1 26	$0.51	$0.59	+15.7%	—	$343.4M	—
Q4 25	-$0.01	$0.04	+500.0%	—	$161.1M	—
Q3 25	$0.57	$0.51	-10.5%	—	$285.3M	—
Q2 25	$0.71	$0.73	+2.8%	—	$387.8M	—
Q1 25	$0.59	$0.6	+1.7%	—	$340M	—
Q4 24	$0.04	$0.09	+125.0%	—	$167.6M	—
Q3 24	$0.32	$0.37	+15.6%	—	$233.7M	—
Q2 24	$0.78	$0.8	+2.6%	—	$376.5M	—
Q1 24	$0.72	$0.82	+13.9%	—	$373.6M	—
Q4 23	$0.19	$0.2	+5.3%	—	$195.7M	—
Q3 23	$0.5	$0.57	+14.0%	—	$303.8M	—
Q2 23	$0.54	$0.71	+31.5%	—	$356.5M	—
Q1 23	$0.34	$0.38	+11.8%	—	$238.7M	—
Q4 22	$0.22	$0.09	-59.1%	—	$192.1M	—
Q3 22	$0.14	$0.13	-7.1%	—	$188.5M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.78	—	—	$1.2B	—
FY24	—	$2.09	—	—	$1.2B	—
FY23	—	$1.89	—	—	$1.1B	—
FY22	—	$1.65	—	—	$1.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$479.6M	$565.2M	$684.3M	$745.3M	$880.8M	$1.2B	$1.1B	$1.1B	$1.2B	$1.2B
YoY change	+8.8%	+17.8%	+21.1%	+8.93%	+18.2%	+35.9%	-7.6%	-1.01%	+5.17%	+1.98%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	479.6M	565.2M	684.3M	745.3M	880.8M	1.2B	1.1B	1.1B	1.2B	1.2B
Cost of revenue	292.5M	321.8M	389.4M	438.8M	521.4M	736.4M	702.1M	642.4M	665.8M	714.3M
Gross profit	187.1M	243.4M	294.9M	306.5M	359.5M	460.5M	404M	452.4M	485.7M	460M
Gross margin	39%	43.1%	43.1%	41.1%	40.8%	38.5%	36.5%	41.3%	42.2%	39.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	83.1M	101M	118.2M	118.3M	125.8M	139.6M	141.8M	176.2M	180M	202M
Operating expenses	83.1M	101M	118.2M	118.3M	125.8M	139.6M	141.8M	176.2M	180M	202M
Operating income	104M	142.4M	176.7M	188.2M	233.6M	320.9M	262.2M	276.2M	305.7M	258M
Operating margin	21.7%	25.2%	25.8%	25.2%	26.5%	26.8%	23.7%	25.2%	26.5%	22%
Non-operating income, net	—	—	—	—	—	-45.5M	-15.4M	—	—	—
Pretax income	102.8M	141.9M	176.9M	189.7M	234.6M	275.4M	246.8M	276.2M	305.7M	258M
Income tax	35M	46.8M	42.3M	45M	59M	66.7M	62.2M	70.8M	79.3M	67.5M
Net income	67.8M	95.1M	134.6M	144.7M	175.6M	208.7M	184.6M	205.4M	226.4M	190.4M
Net margin	14.1%	16.8%	19.7%	19.4%	19.9%	17.4%	16.7%	18.8%	19.7%	16.2%
EBITDA	118.5M	159.2M	193.3M	202.2M	251.6M	402.3M	321.9M	326.4M	360.3M	320.9M
EPS	0.58	0.81	1.15	1.24	1.52	1.81	1.65	1.89	2.09	1.78
Diluted EPS	0.57	0.81	1.14	1.24	1.51	1.8	1.65	1.89	2.09	1.78

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	303.8M	195.7M	373.6M	376.5M	233.7M	167.6M	340M	387.8M	285.3M	161.1M	343.4M	418M
Cost of revenue	172.9M	125.1M	204M	208.4M	140.5M	112.9M	202.3M	229.7M	169.9M	112.5M	204.4M	259.7M
Gross profit	130.9M	70.6M	169.6M	168.1M	93.2M	54.7M	137.7M	158.1M	115.4M	48.7M	139M	158.3M
Gross margin	43.1%	36.1%	45.4%	44.7%	39.9%	32.7%	40.5%	40.8%	40.5%	30.2%	40.5%	37.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	44.5M	42.5M	50.6M	51.2M	38.9M	39.3M	56.1M	55.7M	45M	45.2M	55.5M	67.5M
Operating expenses	44.5M	42.5M	50.6M	51.2M	38.9M	39.3M	56.1M	55.7M	45M	45.2M	55.5M	72.2M
Operating income	86.4M	28.1M	119M	116.9M	54.3M	15.5M	81.7M	102.4M	70.4M	3.5M	83.5M	86.2M
Operating margin	28.4%	14.4%	31.9%	31.1%	23.2%	9.22%	24%	26.4%	24.7%	2.17%	24.3%	20.6%
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	87.1M	30.7M	119M	116.9M	54.3M	15.5M	81.6M	102.5M	70.4M	3.5M	83.5M	83.9M
Income tax	21.8M	8.7M	29.9M	29.9M	13.8M	5.7M	21.2M	26.6M	18.6M	1.2M	22.1M	22M
Net income	65.3M	22M	89.1M	87M	40.6M	9.8M	60.4M	75.9M	51.8M	2.3M	61.4M	61.9M
Net margin	21.5%	11.2%	23.8%	23.1%	17.4%	5.83%	17.8%	19.6%	18.1%	1.43%	17.9%	14.8%
EBITDA	99.4M	41.1M	133.2M	130.4M	67.9M	28.9M	95.9M	118.2M	86.4M	20.4M	101.9M	105.6M
EPS	0.6	0.2	0.82	0.8	0.37	0.09	0.56	0.71	0.48	0.02	0.58	0.6
Diluted EPS	0.6	0.2	0.82	0.8	0.37	0.09	0.56	0.71	0.48	0.02	0.58	0.6

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	1.9B	3.2B	3.5B	5.3B	9.7B	15.6B	4.7B	9B	7.5B	3.8B	4.6B
Enterprise value	1.9B	3.2B	3.4B	5.1B	9.6B	15.5B	5B	9B	7.7B	3.9B	4.9B
Shares outstanding	117.6M	117.6M	117.5M	116.9M	115.9M	115.5M	111.7M	108.7M	108.2M	107M	107M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	27.9	33.5	25.9	36.3	55.2	74.7	25.6	43.8	33	19.7	26.5
P/S	3.95	5.64	5.1	7.05	11	13	4.28	8.22	6.49	3.2	3.88
P/B	14.1	13.8	10.2	11.7	16.5	21.5	9.12	12.6	8.78	3.63	4.7
EV/EBITDA	15.8	19.8	17.5	25.4	38.2	38.5	15.4	27.7	21.4	12.3	15.5
EV/Sales	3.91	5.58	4.94	6.9	10.9	12.9	4.49	8.25	6.71	3.35	4.02
Earnings yield	3.58%	2.99%	3.86%	2.76%	1.81%	1.34%	3.9%	2.28%	3.03%	5.07%	3.77%
FCF yield	3.74%	2.73%	2.99%	1.7%	0.15%	0.63%	0.85%	2.48%	-1.24%	3.32%	1.51%
PEG	—	—	—	—	—	—	—	—	—	—	-1.71

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	39%	43.1%	43.1%	41.1%	40.8%	38.5%	36.5%	41.3%	42.2%	39.2%	37.9%
Operating margin	21.7%	25.2%	25.8%	25.2%	26.5%	26.8%	23.7%	25.2%	26.5%	22%	20.6%
Net margin	14.1%	16.8%	19.7%	19.4%	19.9%	17.4%	16.7%	18.8%	19.7%	16.2%	14.7%
ROE	50.6%	41.1%	39.2%	32.2%	29.8%	28.8%	35.6%	28.7%	26.6%	18.4%	17.7%
ROA	30.6%	29.2%	28.9%	24.4%	22.8%	22.7%	19.8%	22%	17.1%	13.1%	9.62%
ROIC	59.4%	47.5%	56.7%	42%	34.8%	39.3%	25.8%	27.5%	20.5%	15.6%	13.7%
Return on tangible assets	32.2%	51.8%	42.6%	27.9%	25.2%	23.2%	20.2%	22.5%	17.4%	13.7%	11.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.06	2.38	2.91	3.85	3.03	4.52	0.99	1.89	0.93	1.24	1.06
Quick ratio	1.5	1.83	2.29	3.14	2.39	3.58	0.5	0.72	0.33	0.29	0.64
Debt / equity	—	—	0	0.09	0.06	0.05	0.49	0.04	0.3	0.18	0.3
Debt / assets	—	—	0	0.07	0.05	0.04	0.27	0.03	0.19	0.13	0.19
Net debt / EBITDA	—	—	-0.55	-0.53	-0.34	-0.26	0.75	0.09	0.71	0.57	0.94
Effective tax rate	34%	33%	23.9%	23.7%	25.1%	24.2%	25.2%	25.6%	25.9%	26.2%	26.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.08	4.81	5.82	6.38	7.6	10.4	9.9	10.1	10.6	11	11.5
EPS (basic)	0.58	0.81	1.15	1.24	1.52	1.81	1.65	1.89	2.09	1.78	1.78
EPS (diluted)	0.57	0.81	1.14	1.24	1.51	1.8	1.65	1.89	2.09	1.78	1.7
Book value per share	1.14	1.97	2.92	3.84	5.08	6.28	4.64	6.59	7.86	9.67	9.58
FCF per share	0.6	0.74	0.89	0.76	0.12	0.85	0.36	2.05	-0.86	1.16	1.94
Cash per share	0.16	0.26	0.9	1.27	1.05	1.22	0.11	0.02	0.01	0.04	0.06
Capex per share	0.04	0	0	0	0.02	0.01	0	0	0	2.09	1.47

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.91%	0.01%	0.01%	0%	0.25%	0.11%	0%	0%	0.01%	19%	12.4%
Capex / operating cash flow	5.41%	0.06%	0.06%	0.01%	1.2%	0.62%	0.03%	0%	0.08%	62.4%	41.9%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$303.8M	$195.7M	$373.6M	$376.5M	$233.7M	$167.6M	$340M	$387.8M	$285.3M	$161.1M	$343.4M	$418M
YoY change	+61.2%	+1.9%	+56.5%	+5.59%	-23.1%	-14.4%	-9%	+3.01%	+22.1%	-3.88%	+1%	+7.79%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	18.7M	30.5M	105.7M	148.8M	121.7M	141.1M	12.3M	2M	1.3M	3.8M
Receivables	48M	68.3M	93.6M	80.3M	106.7M	151.1M	98.1M	41.1M	88.4M	48.1M
Inventory	28.5M	34.5M	57.8M	56.1M	68.2M	83.8M	141.4M	107.1M	207.3M	238.7M
Total current assets	105.6M	148.8M	270.2M	303.2M	322M	401.1M	286.8M	172.3M	318.9M	310.4M
Property, plant & equipment	55.4M	53.7M	66.9M	159.8M	309.1M	393.3M	500.8M	589.8M	823M	811.8M
Goodwill & intangibles	10.5M	142.6M	149M	74.1M	73.7M	19M	18.6M	18.2M	22M	63.1M
Total assets	221.4M	326.2M	465.1M	592.2M	770.5M	920.3M	933.7M	932.9M	1.3B	1.5B
Accounts payable	10.8M	10M	31.1M	15.2M	38.6M	24.9M	19.9M	24M	61.3M	34.8M
Short-term debt	—	—	—	7.1M	6.7M	7.1M	229.5M	13.2M	213.4M	145.6M
Total current liabilities	51.4M	62.5M	92.8M	78.7M	106.4M	88.7M	290.6M	91.1M	342.5M	250.7M
Long-term debt	—	—	0	34.2M	28.6M	28.3M	24M	18.8M	42M	41.8M
Total liabilities	87.3M	95M	122.2M	143.1M	182M	195.3M	415.4M	216.2M	474.2M	419.2M
Shareholders' equity	134.2M	231.3M	343M	449.2M	588.5M	725M	518.3M	716.7M	850.1M	1B
Total debt	—	—	0	41.3M	35.3M	35.3M	253.5M	32M	255.4M	187.3M
Net debt	—	—	-105.7M	-107.5M	-86.4M	-105.7M	241.1M	30M	254.1M	183.5M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	4.6M	2M	3.1M	1.2M	12.8M	1.3M	5M	5.5M	11.4M	3.8M	4.5M	6.5M
Receivables	200.9M	41.1M	373.5M	270M	140.1M	88.4M	391.1M	291.2M	164M	48.1M	326.9M	262.5M
Inventory	60.4M	107.1M	123.9M	148.9M	187.9M	207.3M	176.4M	141.8M	149.6M	238.7M	229.6M	189.6M
Total current assets	273.1M	172.3M	513.4M	433.8M	352.7M	318.9M	592.2M	453.5M	337.8M	310.4M	580M	477.6M
Property, plant & equipment	698.3M	589.8M	755M	812M	889M	823M	1B	1B	1.1B	1.2B	1.1B	1.1B
Goodwill & intangibles	18.3M	18.2M	18.1M	18M	38.8M	22M	47.1M	54.5M	60.8M	63.1M	32.9M	35M
Total assets	996.8M	932.9M	1.3B	1.3B	1.3B	1.3B	1.6B	1.5B	1.5B	1.5B	1.7B	1.6B
Accounts payable	31.8M	24M	49.4M	59.3M	61.5M	61.3M	45.6M	66.9M	47.5M	34.8M	65.9M	60.7M
Short-term debt	63.9M	13.2M	230.6M	72.8M	79.6M	213.4M	455M	256.7M	122.6M	145.6M	395.1M	265.6M
Total current liabilities	182.3M	91.1M	369.2M	244.4M	251.2M	342.5M	601.6M	—	—	—	—	449.9M
Long-term debt	20.2M	18.8M	17.6M	28.3M	26.8M	42M	39.8M	37.7M	35.7M	41.8M	40.1M	37.8M
Total liabilities	305.2M	216.2M	488.8M	375M	379.3M	474.2M	731.1M	129.2M	127.8M	168.5M	167.7M	616.4M
Shareholders' equity	691.7M	716.7M	804.1M	894.9M	887.9M	850.1M	910.1M	989.3M	1B	1B	995.8M	1B
Total debt	84.1M	32M	248.2M	101.2M	106.3M	255.4M	494.8M	294.5M	158.3M	187.3M	435.2M	303.4M
Net debt	79.5M	30M	245.2M	100M	93.5M	254.1M	489.9M	288.9M	146.9M	183.5M	430.7M	296.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	67.8M	95.1M	134.6M	144.7M	175.6M	208.7M	184.6M	205.4M	226.4M	190.4M
Depreciation & amortization	14.5M	16.9M	16.6M	14M	17.9M	35.9M	44.3M	50.2M	54.7M	63M
Stock-based compensation	4.8M	5.2M	6.3M	6.9M	7.1M	8.4M	5.3M	10.2M	12.6M	9.1M
Change in working capital	-12M	-17.1M	-24.5M	-4.6M	-33.8M	-56.3M	-51.1M	108.3M	-137.7M	65.8M
Operating cash flow	80.3M	99.8M	133.6M	168.5M	180.1M	217.9M	207.3M	378.2M	139.8M	358.1M
Capital expenditure	4.3M	55K	83K	21K	2.2M	1.4M	54K	0	106K	-223.6M
Investing cash flow	4.3M	-71.7M	83K	21K	2.2M	1.4M	7.3M	0	106K	-223.6M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-55.2M	-3.6M	-30.1M	-46.5M	-44.9M	-82.5M	-398.4M	-18.4M	-105.9M	-54.5M
Financing cash flow	-312.4M	-204.6M	-202.3M	-136.6M	-321.2M	-577M	-380.8M	-1B	-554.5M	-1.1B
Net change in cash	-227.7M	-176.5M	-68.6M	32M	-139M	-357.8M	-166.2M	-666.8M	-414.7M	-938.7M
Free cash flow	70.7M	86.8M	104.3M	89.1M	14.5M	98.7M	40M	223.3M	-92.7M	124.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	65.3M	22M	89.1M	87M	40.6M	9.8M	60.4M	75.9M	51.8M	2.3M	61.4M	61.9M
Depreciation & amortization	13M	13M	14.2M	13.5M	13.6M	13.5M	14.2M	15.8M	16M	16.9M	18.4M	19.4M
Stock-based compensation	2.8M	2.8M	3.2M	3.8M	2.7M	3M	2.3M	2.9M	1.2M	2.7M	2.6M	2.8M
Change in working capital	78.5M	92.4M	-289.2M	73M	50.6M	27.9M	-248.5M	121.5M	130.9M	59.2M	-247.6M	108.6M
Operating cash flow	159.8M	130.2M	-187.9M	177.4M	107.2M	43M	-171.4M	249.8M	196.9M	65.5M	-118.4M	214.2M
Capital expenditure	0	0	106K	0	0	0	156K	-46.8M	-53.9M	-43.4M	-23.1M	-29.6M
Investing cash flow	0	0	106K	0	0	0	156K	-46.8M	-53.9M	-43.4M	-23.1M	-29.6M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-249K	-9K	-5.1M	-425K	-50.1M	-50.3M	-4M	0	-25K	-50.4M	-102.8M	-50.7M
Financing cash flow	-478.7M	-186M	171.4M	-500.2M	-206.1M	-19.1M	221.6M	-674M	-413.8M	-207M	78.7M	-502.7M
Net change in cash	-319M	-55.8M	-16.4M	-322.8M	-98.9M	23.9M	50.4M	-471M	-270.9M	-184.9M	-62.8M	-318.2M
Free cash flow	149.9M	48M	-211.8M	158.2M	54.5M	-93.6M	-234.1M	198.7M	139.6M	20.4M	-143.4M	181.8M

Trex Company, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement