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Trex (TREX) Financials

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$48.36 -0.81 (-1.65%)
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Annual Income Statements for Trex

Annual Income Statements for Trex

This table shows Trex's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 48 68 95 135 145 176 209 185 204 238 190
Consolidated Net Income / (Loss)		 48 68 95 135 145 176 209 185 204 238 190
Net Income / (Loss) Continuing Operations		 48 68 95 135 145 176 209 185 204 238 190
Total Pre-Tax Income 		77 103 142 177 190 235 275 247 275 322 258
Total Operating Income		 77 104 142 177 188 234 275 247 275 322 258
Total Gross Profit		 155 187 243 295 307 359 461 404 451 502 460
Total Revenue		 441 480 565 684 745 881 1,197 1,106 1,095 1,151 1,174
Operating Revenue		 441 480 565 684 745 881 1,197 1,106 1,095 1,151 1,174
Total Cost of Revenue		 286 293 322 389 439 521 736 702 644 650 714
Operating Cost of Revenue		 286 293 322 389 439 521 736 702 644 650 714
Total Operating Expenses		 77 83 101 118 118 126 185 142 176 180 202
Selling, General & Admin Expense		 77 83 101 118 118 126 140 142 176 180 202
Total Other Income / (Expense), net		 -0.62 -1.13 -0.46 0.19 1.50 1.00 0.02 -15 -0.01 0.01 0.00
Interest Expense		 0.62 1.13 0.46 -0.19 -1.50 -1.00 -0.02 -0.10 0.01 -0.01 0.00
Other Income / (Expense), net		 - - - - - - 0.00 -15 0.00 0.00 0.00
Income Tax Expense		 29 35 47 42 45 59 67 62 70 83 68
Basic Earnings per Share		 $1.53 $1.16 $1.62 $1.15 $1.24 $1.52 $1.81 $1.65 $1.88 $2.20 $1.78
Weighted Average Basic Shares Outstanding		 31.35M 58.79M 58.79M 117.48M 116.86M 115.89M 115.46M 111.71M 108.68M 108.19M 107.01M
Diluted Earnings per Share		 $1.52 $1.15 $1.61 $1.14 $1.24 $1.51 $1.80 $1.65 $1.88 $2.20 $1.78
Weighted Average Diluted Shares Outstanding		 31.68M 59.23M 59.15M 118.13M 117.32M 116.25M 115.76M 111.88M 108.81M 108.32M 107.10M
Weighted Average Basic & Diluted Shares Outstanding		 31.40M 29.40M 58.70M 58.80M 58.19M 115.80M 114.61M 108.76M 108.62M 107.16M 105.74M

Quarterly Income Statements for Trex

This table shows Trex's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 22 89 87 41 9.77 60 76 52 2.30 61 62
Consolidated Net Income / (Loss)		 22 89 87 41 9.77 60 76 52 2.30 61 62
Net Income / (Loss) Continuing Operations		 22 89 87 41 9.77 60 76 52 2.30 61 62
Total Pre-Tax Income 		31 119 117 54 15 82 102 70 3.50 84 84
Total Operating Income		 28 119 117 54 15 82 102 70 3.50 84 86
Total Gross Profit		 71 170 168 93 55 138 158 115 49 139 158
Total Revenue		 196 374 376 234 168 340 388 285 161 343 418
Operating Revenue		 196 374 376 234 168 340 388 285 161 343 418
Total Cost of Revenue		 125 204 208 141 113 202 230 170 112 204 260
Operating Cost of Revenue		 125 204 208 141 113 202 230 170 112 204 260
Total Operating Expenses		 43 51 51 39 39 56 56 45 45 56 72
Selling, General & Admin Expense		 43 51 51 39 39 56 56 45 45 56 72
Total Other Income / (Expense), net		 2.55 0.01 0.00 0.01 0.00 -0.08 0.08 0.00 -0.00 0.00 -2.33
Interest Expense		 -2.55 -0.01 0.00 -0.01 -0.00 0.08 -0.08 0.00 0.00 0.00 2.33
Income Tax Expense		 8.73 30 30 14 5.68 21 27 19 1.20 22 22
Basic Earnings per Share		 $0.20 $0.82 $0.80 $0.37 $0.10 $0.56 $0.71 $0.48 $0.03 $0.58 $0.60
Weighted Average Basic Shares Outstanding		 108.68M 108.64M 108.69M 108.26M 108.19M 107.18M 107.23M 107.24M 107.01M 105.06M 102.31M
Diluted Earnings per Share		 $0.20 $0.82 $0.80 $0.37 $0.10 $0.56 $0.71 $0.48 $0.03 $0.58 $0.60
Weighted Average Diluted Shares Outstanding		 108.81M 108.79M 108.81M 108.38M 108.32M 107.28M 107.30M 107.33M 107.10M 105.13M 102.39M
Weighted Average Basic & Diluted Shares Outstanding		 108.62M 108.69M 108.71M 107.14M 107.16M 107.23M 107.23M 107.25M 105.74M 103.90M 101.87M

Annual Cash Flow Statements for Trex

This table details how cash moves in and out of Trex's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -3.55 13 12 75 43 -27 19 -129 -10 -0.67 2.52
Net Cash From Operating Activities		 63 85 102 138 156 187 258 216 389 144 358
Net Cash From Continuing Operating Activities		 63 85 102 138 156 187 258 216 389 144 358
Net Income / (Loss) Continuing Operations		 48 68 95 135 145 176 209 185 204 238 190
Consolidated Net Income / (Loss)		 48 68 95 135 145 176 209 185 204 238 190
Depreciation Expense		 14 14 17 17 14 18 36 44 50 55 63
Non-Cash Adjustments To Reconcile Net Income		 2.09 4.32 6.52 5.99 7.00 7.13 63 21 13 15 9.58
Changes in Operating Assets and Liabilities, net		 -1.94 -1.37 -17 -19 -9.41 -13 -49 -33 122 -165 95
Net Cash From Investing Activities		 -23 -10 -87 -34 -67 -171 -158 -169 -166 -237 -233
Net Cash From Continuing Investing Activities		 -23 -10 -87 -34 -67 -171 -158 -169 -166 -237 -233
Purchase of Property, Plant & Equipment		 -23 -15 -15 -34 -67 -173 -159 -176 -166 -232 -224
Acquisitions		 -0.03 - -72 - - - - 0.00 0.00 -4.30 -9.98
Sale of Property, Plant & Equipment		 0.04 4.35 0.06 0.08 0.02 2.17 1.36 0.05 0.00 0.11 0.36
Divestitures		 - - - - - 0.00 0.00 7.29 0.00 0.00 0.00
Net Cash From Financing Activities		 -43 -62 -3.23 -29 -46 -44 -81 -176 -234 92 -122
Net Cash From Continuing Financing Activities		 -43 -62 -3.23 -29 -46 -44 -81 -176 -234 92 -122
Repayment of Debt		 -219 -250 -201 -172 -90 -276 -495 -203 -810 -645 -950
Repurchase of Common Equity		 -53 -55 -3.62 -30 -47 -45 -82 -398 -18 -106 -54
Issuance of Debt		 226 243 201 172 90 276 495 425 594 842 881
Issuance of Common Equity		 0.32 0.28 0.39 0.88 1.09 1.45 1.80 1.74 1.22 1.28 1.19
Other Financing Activities, net		 3.15 - - - - - 0.00 -1.42 0.03 -0.50 0.01
Cash Interest Paid		 0.63 0.85 0.42 0.66 0.00 0.00 0.00 0.00 0.05 0.00 0.00
Cash Income Taxes Paid		 26 29 45 48 40 51 39 60 52 85 50

Quarterly Cash Flow Statements for Trex

This table details how cash moves in and out of Trex's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -2.69 1.09 -1.88 12 -12 3.67 0.56 5.83 -7.55 0.69 1.98
Net Cash From Operating Activities		 101 -174 194 133 -8.47 -154 250 197 65 -118 214
Net Cash From Continuing Operating Activities		 101 -174 194 133 -8.47 -154 250 197 65 -118 214
Net Income / (Loss) Continuing Operations		 22 89 87 41 9.77 60 76 52 2.30 61 62
Consolidated Net Income / (Loss)		 22 89 87 41 9.77 60 76 52 2.30 61 62
Depreciation Expense		 13 14 13 14 13 14 16 16 17 18 19
Non-Cash Adjustments To Reconcile Net Income		 4.96 5.40 4.10 2.47 3.50 2.37 3.12 1.31 2.79 2.71 7.22
Changes in Operating Assets and Liabilities, net		 61 -283 89 76 -35 -231 155 128 44 -201 126
Net Cash From Investing Activities		 -53 -38 -35 -78 -85 -80 -51 -57 -45 -25 -32
Net Cash From Continuing Investing Activities		 -53 -38 -35 -78 -85 -80 -51 -57 -45 -25 -32
Purchase of Property, Plant & Equipment		 -53 -38 -35 -78 -81 -79 -47 -54 -43 -23 -30
Acquisitions		 - 0.00 - - - -0.64 -4.27 -3.38 -1.70 -1.85 -2.69
Sale of Property, Plant & Equipment		 - 0.11 - - - 0.16 0.03 0.17 - 0.05 0.04
Net Cash From Financing Activities		 -51 213 -160 -43 82 238 -198 -134 -28 144 -180
Net Cash From Continuing Financing Activities		 -51 213 -160 -43 82 238 -198 -134 -28 144 -180
Repayment of Debt		 -135 -41 -340 -163 -101 -16 -476 -280 -179 -65 -323
Repurchase of Common Equity		 -0.01 -5.15 -0.43 -50 -50 -4.01 - -0.03 -50 -83 -71
Issuance of Debt		 84 259 180 170 234 257 277 146 201 314 193
Issuance of Common Equity		 0.30 0.40 0.34 0.27 0.28 0.30 0.33 0.27 0.28 0.29 0.34
Cash Income Taxes Paid		 17 1.44 45 19 20 2.00 39 7.25 1.37 -0.01 19

Annual Balance Sheets for Trex

This table presents Trex's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 212 221 326 465 592 770 920 934 933 1,374 1,453
Total Current Assets		 99 106 149 270 303 322 401 287 172 369 310
Cash & Equivalents		 6.00 19 31 106 149 122 141 12 1.96 1.29 3.81
Accounts Receivable		 47 48 67 91 78 107 151 98 41 88 48
Inventories, net		 23 29 35 58 56 68 84 141 107 257 239
Prepaid Expenses		 13 10 17 16 20 25 25 35 22 22 20
Plant, Property, & Equipment, net		 101 103 103 117 171 337 460 590 709 923 1,050
Total Noncurrent Assets		 12 12 74 78 118 112 59 57 51 83 93
Goodwill		 11 11 71 75 - 74 19 19 18 22 32
Other Noncurrent Operating Assets		 1.52 1.97 3.00 3.25 44 38 40 38 33 60 62
Total Liabilities & Shareholders' Equity		 212 221 326 465 592 770 920 934 933 1,374 1,453
Total Liabilities		 96 87 95 122 143 182 195 415 216 487 419
Total Current Liabilities		 60 51 63 93 79 106 89 291 91 342 251
Short-Term Debt		 7.00 0.00 - - - - 0.00 222 5.50 203 134
Accounts Payable		 18 11 9.95 31 15 39 25 20 24 61 35
Accrued Expenses		 36 41 53 62 63 68 64 49 62 79 82
Total Noncurrent Liabilities		 35 36 32 29 64 76 107 125 125 144 168
Noncurrent Deferred & Payable Income Tax Liabilities		 4.60 0.89 1.29 2.13 9.83 23 44 68 72 69 86
Other Noncurrent Operating Liabilities		 30 35 31 27 55 53 63 57 53 76 83
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 116 134 231 343 449 589 725 518 717 887 1,034
Total Preferred & Common Equity		 116 134 231 343 449 589 725 518 717 887 1,034
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 116 134 231 343 449 589 725 518 717 887 1,034
Common Stock		 117 120 122 125 125 127 129 133 142 150 157
Retained Earnings		 119 187 282 417 562 737 946 1,131 1,336 1,599 1,790
Treasury Stock		 -120 -174 -174 -199 -237 -276 -350 -745 -761 -862 -912

Quarterly Balance Sheets for Trex

This table presents Trex's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,133 1,070 997 1,293 1,270 1,267 1,641 1,538 1,452 1,730 1,626
Total Current Assets		 459 369 273 513 434 353 592 453 338 580 478
Cash & Equivalents		 3.92 4.23 4.64 3.05 1.17 13 4.96 5.52 11 4.49 6.48
Accounts Receivable		 302 267 201 373 270 140 391 291 164 327 263
Inventories, net		 128 74 60 124 149 188 176 142 150 230 190
Prepaid Expenses		 26 24 7.13 13 14 12 20 15 13 19 19
Plant, Property, & Equipment, net		 618 646 671 730 774 853 967 1,001 1,029 1,055 1,054
Total Noncurrent Assets		 56 55 53 50 62 62 82 84 86 95 95
Goodwill		 18 18 18 18 18 19 24 27 30 33 35
Other Noncurrent Operating Assets		 38 36 34 32 44 42 58 56 55 62 60
Total Liabilities & Shareholders' Equity		 1,133 1,070 997 1,293 1,270 1,267 1,641 1,538 1,452 1,730 1,626
Total Liabilities		 573 446 305 489 375 379 731 549 410 734 616
Total Current Liabilities		 448 323 182 369 244 251 602 419 282 566 450
Short-Term Debt		 370 206 57 223 63 70 444 245 111 383 253
Accounts Payable		 23 32 32 49 59 61 46 67 47 66 61
Accrued Expenses		 55 85 94 97 122 120 112 107 123 118 136
Total Noncurrent Liabilities		 125 123 123 120 131 128 130 129 128 168 166
Noncurrent Deferred & Payable Income Tax Liabilities		 68 68 68 67 67 67 56 56 56 86 86
Other Noncurrent Operating Liabilities		 57 55 55 52 63 61 74 73 72 82 81
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 560 624 692 804 895 888 910 989 1,042 996 1,010
Total Preferred & Common Equity		 560 624 692 804 895 888 910 989 1,042 996 1,010
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 560 624 692 804 895 888 910 989 1,042 996 1,010
Common Stock		 134 136 138 140 144 147 149 152 154 138 161
Retained Earnings		 1,172 1,249 1,314 1,425 1,512 1,553 1,623 1,699 1,751 1,851 1,913
Treasury Stock		 -745 -761 -761 -761 -761 -811 -862 -862 -862 -993 -1,064

Annual Metrics And Ratios for Trex

This table displays calculated financial ratios and metrics derived from Trex's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 12.55% 8.80% 17.83% 21.07% 8.93% 18.18% 35.89% -7.60% -1.01% 5.17% 1.98%
EBITDA Growth		 10.55% 29.05% 34.43% 21.37% 4.64% 24.40% 23.75% -11.47% 18.43% 10.40% -14.78%
EBIT Growth		 14.12% 34.30% 36.96% 24.08% 6.53% 24.14% 17.87% -16.00% 19.41% 10.67% -19.86%
NOPAT Growth		 15.26% 41.46% 39.14% 40.85% 6.82% 21.79% 19.35% -11.58% 11.29% 10.22% -20.14%
Net Income Growth		 15.84% 41.06% 40.21% 41.46% 7.55% 21.34% 18.85% -11.55% 11.24% 10.23% -20.14%
EPS Growth		 19.69% 41.06% 40.21% 41.46% 7.55% 21.77% 19.21% -8.33% 14.55% 10.58% -19.09%
Operating Cash Flow Growth		 6.81% 36.18% 19.43% 35.59% 13.20% 19.79% 37.79% -16.21% 80.10% -63.04% 148.81%
Free Cash Flow Firm Growth		 -15.12% 102.42% -85.55% 859.97% -17.76% -89.57% 990.80% -55.77% 426.34% -149.18% 188.53%
Invested Capital Growth		 13.12% -1.68% 73.80% 18.20% 26.59% 55.43% 25.10% 24.67% -1.07% 45.99% 6.94%
Revenue Q/Q Growth		 3.52% 1.29% 5.00% 2.66% 3.44% 7.77% 6.75% -9.19% 0.33% -2.38% -0.55%
EBITDA Q/Q Growth		 4.83% 5.94% 4.43% 2.96% 7.51% 5.83% -6.85% -9.98% 4.98% -3.28% -2.58%
EBIT Q/Q Growth		 6.21% 6.67% 4.07% 4.07% 8.04% 5.38% -9.15% -11.90% 5.14% -3.98% -4.43%
NOPAT Q/Q Growth		 6.52% 6.97% 6.27% 5.07% 7.67% 4.91% -7.99% -7.49% 5.11% -4.35% -3.77%
Net Income Q/Q Growth		 6.50% 7.18% 6.34% 5.38% 7.68% 4.65% -8.05% -7.49% 6.14% -5.11% -3.77%
EPS Q/Q Growth		 4.83% 7.18% 6.34% 5.38% 7.68% 4.14% -8.63% -8.84% 5.00% -4.57% -3.78%
Operating Cash Flow Q/Q Growth		 145.93% -36.38% 7.74% 11.03% 28.43% 168.02% -10.34% -44.47% 49.75% -43.25% 26.03%
Free Cash Flow Firm Q/Q Growth		 1,702.97% -41.45% 652.51% 5.68% 24.95% 112.53% 8.92% -83.09% 171.40% -398.65% 21,845.10%
Invested Capital Q/Q Growth		 -23.71% 18.36% 7.90% 7.19% 3.47% -10.91% -12.42% 16.18% -3.13% 11.26% 1.88%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 35.13% 39.01% 43.06% 43.10% 41.12% 40.81% 38.47% 36.53% 41.32% 42.18% 39.17%
EBITDA Margin		 20.82% 24.70% 28.18% 28.24% 27.13% 28.56% 26.01% 24.92% 29.81% 31.29% 27.33%
Operating Margin		 17.56% 21.67% 25.19% 25.82% 25.25% 26.52% 23.01% 22.31% 25.23% 26.55% 21.97%
EBIT Margin		 17.56% 21.67% 25.19% 25.82% 25.25% 26.52% 23.01% 20.91% 25.23% 26.55% 21.97%
Profit (Net Income) Margin		 10.91% 14.15% 16.83% 19.67% 19.42% 19.94% 17.44% 16.69% 18.76% 19.66% 16.22%
Tax Burden Percent		 62.64% 65.98% 67.03% 76.09% 76.30% 74.85% 75.80% 74.80% 74.36% 74.06% 73.82%
Interest Burden Percent		 99.20% 98.92% 99.68% 100.11% 100.80% 100.43% 100.01% 106.71% 100.00% 100.00% 100.00%
Effective Tax Rate		 37.36% 34.02% 32.97% 23.91% 23.70% 25.15% 24.20% 25.20% 25.64% 25.94% 26.18%
Return on Invested Capital (ROIC)		 43.82% 58.88% 60.36% 61.38% 53.42% 45.59% 39.73% 28.13% 28.36% 25.56% 16.91%
ROIC Less NNEP Spread (ROIC-NNEP)		 52.90% 67.29% 61.62% 61.17% 52.52% 45.04% 39.72% 28.36% 28.36% 25.56% 16.91%
Return on Net Nonoperating Assets (RNNOA)		 -1.97% -4.74% -8.29% -14.51% -16.88% -11.74% -7.94% 1.57% 4.90% 3.34% 2.91%
Return on Equity (ROE)		 41.85% 54.14% 52.07% 46.87% 36.54% 33.85% 31.78% 29.70% 33.26% 28.90% 19.82%
Cash Return on Invested Capital (CROIC)		 31.50% 60.58% 6.45% 44.70% 29.95% 2.19% 17.43% 6.17% 29.44% -11.84% 10.20%
Operating Return on Assets (OROA)		 37.96% 47.97% 52.00% 44.65% 35.60% 34.29% 32.57% 24.95% 29.59% 27.08% 18.25%
Return on Assets (ROA)		 23.59% 31.31% 34.74% 34.01% 27.38% 25.78% 24.69% 19.92% 22.01% 20.06% 13.47%
Return on Common Equity (ROCE)		 41.85% 54.14% 52.07% 46.87% 36.54% 33.85% 31.78% 29.70% 33.26% 28.90% 19.82%
Return on Equity Simple (ROE_SIMPLE)		 41.30% 50.57% 41.14% 39.24% 32.22% 29.84% 28.79% 35.62% 28.66% 26.63% 0.00%
Net Operating Profit after Tax (NOPAT)		 48 69 95 134 144 175 209 185 205 226 190
NOPAT Margin		 11.00% 14.30% 16.89% 19.65% 19.27% 19.85% 17.44% 16.69% 18.76% 19.66% 16.22%
Net Nonoperating Expense Percent (NNEP)		 -9.08% -8.41% -1.26% 0.21% 0.90% 0.55% 0.01% -0.22% 0.00% -0.01% 0.00%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 24.93% 28.44% 21.50% 16.31%
Cost of Revenue to Revenue		 64.87% 60.99% 56.94% 56.90% 58.88% 59.19% 61.53% 63.47% 58.68% 57.82% 60.83%
SG&A Expenses to Revenue		 17.57% 17.33% 17.87% 17.28% 15.87% 14.28% 11.67% 12.82% 16.09% 15.63% 17.20%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 17.57% 17.33% 17.87% 17.28% 15.87% 14.28% 15.47% 12.82% 16.09% 15.63% 17.20%
Earnings before Interest and Taxes (EBIT)		 77 104 142 177 188 234 275 231 276 306 258
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 92 118 159 193 202 252 311 276 326 360 321
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 10.08 14.11 13.79 10.17 11.67 16.47 21.44 8.96 12.55 8.70 3.64
Price to Tangible Book Value (P/TBV)		 11.08 15.31 19.94 12.99 13.98 18.83 22.02 9.29 12.87 8.93 3.75
Price to Revenue (P/Rev)		 2.66 3.95 5.64 5.10 7.03 11.01 12.99 4.20 8.21 6.42 3.20
Price to Earnings (P/E)		 24.41 27.90 33.53 25.92 36.23 55.19 74.47 25.16 43.77 32.67 19.76
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 4.10% 3.58% 2.98% 3.86% 2.76% 1.81% 1.34% 3.97% 2.28% 3.06% 5.06%
Enterprise Value to Invested Capital (EV/IC)		 10.00 16.23 15.74 14.25 16.96 20.50 26.38 6.67 12.49 7.23 3.34
Enterprise Value to Revenue (EV/Rev)		 2.67 3.91 5.59 4.94 6.84 10.87 12.87 4.39 8.22 6.60 3.31
Enterprise Value to EBITDA (EV/EBITDA)		 12.80 15.82 19.84 17.50 25.19 38.05 49.48 17.62 27.56 21.08 12.13
Enterprise Value to EBIT (EV/EBIT)		 15.18 18.03 22.19 19.14 27.07 40.97 55.94 20.99 32.56 24.85 15.09
Enterprise Value to NOPAT (EV/NOPAT)		 24.24 27.33 33.10 25.16 35.48 54.73 73.80 26.31 43.79 33.56 20.44
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.76 21.98 31.01 24.49 32.58 51.11 59.69 22.45 23.10 52.79 10.87
Enterprise Value to Free Cash Flow (EV/FCFF)		 33.71 26.56 309.75 34.55 63.27 1,140.17 168.20 119.86 42.19 0.00 33.88
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.43 0.01 0.24 0.13
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.04 -0.07 -0.13 -0.24 -0.32 -0.26 -0.20 0.06 0.17 0.13 0.17
Leverage Ratio		 1.77 1.73 1.50 1.38 1.33 1.31 1.29 1.49 1.51 1.44 1.47
Compound Leverage Factor		 1.76 1.71 1.49 1.38 1.35 1.32 1.29 1.59 1.51 1.44 1.47
Debt to Total Capital		 5.67% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29.99% 0.76% 19.25% 11.43%
Short-Term Debt to Total Capital		 5.67% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29.99% 0.76% 19.25% 11.43%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 94.33% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 70.01% 99.24% 80.76% 88.57%
Debt to EBITDA		 0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.81 0.02 0.56 0.42
Net Debt to EBITDA		 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.76 0.01 0.56 0.40
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.14 0.00 0.00 0.00 0.00 0.00 0.00 1.20 0.03 0.89 0.70
Net Debt to NOPAT		 0.02 0.00 0.00 0.00 0.00 0.00 0.00 1.14 0.02 0.89 0.68
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 11.67 18.21 24.85 21.57 26.08 35.78 51.89 10.40 29.21 12.62 8.55
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.64 2.06 2.38 2.91 3.85 3.03 4.52 0.99 1.89 0.93 1.24
Quick Ratio		 0.88 1.30 1.56 2.12 2.89 2.15 3.29 0.38 0.47 0.26 0.21
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 35 71 10 98 81 8.40 92 41 213 -105 115
Operating Cash Flow to CapEx		 268.84% 836.04% 679.78% 409.45% 232.51% 109.75% 163.29% 122.73% 234.46% 61.98% 160.42%
Free Cash Flow to Firm to Interest Expense		 56.31 62.72 22.12 0.00 0.00 0.00 0.00 0.00 42,639.94 0.00 0.00
Operating Cash Flow to Interest Expense		 101.19 75.82 220.97 0.00 0.00 0.00 0.00 0.00 77,884.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 63.55 66.75 188.46 0.00 0.00 0.00 0.00 0.00 44,666.20 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.16 2.21 2.06 1.73 1.41 1.29 1.42 1.19 1.17 1.02 0.83
Accounts Receivable Turnover		 10.52 10.05 9.84 8.66 8.79 9.51 9.28 8.88 15.73 17.78 17.21
Inventory Turnover		 12.21 11.33 10.20 8.43 7.71 8.39 9.69 6.24 5.17 4.24 2.88
Fixed Asset Turnover		 4.42 4.70 5.48 6.21 5.17 3.47 3.00 2.11 1.69 1.41 1.19
Accounts Payable Turnover		 15.14 20.53 31.06 18.98 18.95 19.36 23.20 31.34 29.27 15.62 14.88
Days Sales Outstanding (DSO)		 34.69 36.31 37.11 42.15 41.53 38.37 39.31 41.11 23.20 20.52 21.21
Days Inventory Outstanding (DIO)		 29.90 32.22 35.77 43.27 47.37 43.53 37.67 58.52 70.58 86.17 126.63
Days Payable Outstanding (DPO)		 24.12 17.78 11.75 19.24 19.26 18.85 15.73 11.64 12.47 23.36 24.54
Cash Conversion Cycle (CCC)		 40.47 50.75 61.13 66.19 69.64 63.05 61.25 87.98 81.31 83.33 123.30
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 117 115 201 237 300 467 584 728 720 1,051 1,164
Invested Capital Turnover		 3.98 4.12 3.57 3.12 2.77 2.30 2.28 1.69 1.51 1.30 1.04
Increase / (Decrease) in Invested Capital		 14 -1.97 85 37 63 166 117 144 -7.81 331 76
Enterprise Value (EV)		 1,175 1,874 3,159 3,382 5,094 9,572 15,403 4,855 8,994 7,597 3,892
Market Capitalization		 1,174 1,893 3,189 3,488 5,243 9,694 15,544 4,645 8,991 7,396 3,762
Book Value per Share		 $3.77 $4.56 $7.86 $5.84 $7.70 $5.08 $6.30 $4.72 $6.60 $7.93 $9.64
Tangible Book Value per Share		 $3.43 $4.21 $5.44 $4.57 $6.43 $4.45 $6.13 $4.55 $6.43 $7.73 $9.35
Total Capital		 123 134 231 343 449 589 725 740 722 1,053 1,168
Total Debt		 7.00 0.00 0.00 0.00 0.00 0.00 0.00 222 5.50 203 134
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 1.01 -19 -31 -106 -149 -122 -141 210 3.54 201 130
Capital Expenditures (CapEx)		 23 10 15 34 67 171 158 176 166 232 223
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 40 36 56 72 76 94 171 206 85 178 189
Debt-free Net Working Capital (DFNWC)		 46 54 86 177 225 216 312 218 87 179 193
Net Working Capital (NWC)		 39 54 86 177 225 216 312 -3.76 81 -24 60
Net Nonoperating Expense (NNE)		 0.39 0.74 0.31 -0.15 -1.15 -0.75 -0.01 -0.08 0.00 -0.01 0.00
Net Nonoperating Obligations (NNO)		 1.01 -19 -31 -106 -149 -122 -141 210 3.54 201 130
Total Depreciation and Amortization (D&A)		 14 14 17 17 14 18 36 44 50 55 63
Debt-free, Cash-free Net Working Capital to Revenue		 8.98% 7.42% 9.87% 10.49% 10.16% 10.67% 14.31% 18.62% 7.74% 15.44% 16.13%
Debt-free Net Working Capital to Revenue		 10.34% 11.31% 15.27% 25.93% 30.12% 24.48% 26.10% 19.73% 7.92% 15.55% 16.45%
Net Working Capital to Revenue		 8.75% 11.31% 15.27% 25.93% 30.12% 24.48% 26.10% -0.34% 7.42% -2.05% 5.08%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.19 $0.29 $0.41 $0.57 $0.62 $1.52 $1.81 $1.65 $1.89 $2.09 $1.78
Adjusted Weighted Average Basic Shares Outstanding		 250.80M 235.16M 235.14M 234.96M 233.72M 115.89M 115.46M 111.71M 108.68M 108.19M 107.01M
Adjusted Diluted Earnings per Share		 $0.19 $0.29 $0.40 $0.57 $0.62 $1.51 $1.80 $1.65 $1.89 $2.09 $1.78
Adjusted Weighted Average Diluted Shares Outstanding		 253.46M 236.90M 236.60M 236.27M 234.63M 116.25M 115.76M 111.88M 108.81M 108.32M 107.10M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 238.77M 235.07M 235.43M 234.04M 232.77M 115.80M 114.61M 108.76M 108.62M 107.16M 105.74M
Normalized Net Operating Profit after Tax (NOPAT)		 48 69 95 134 144 175 243 185 205 226 190
Normalized NOPAT Margin		 11.00% 14.30% 16.89% 19.65% 19.27% 19.85% 20.32% 16.69% 18.76% 19.66% 16.22%
Pre Tax Income Margin		 17.42% 21.44% 25.11% 25.85% 25.45% 26.64% 23.01% 22.32% 25.23% 26.55% 21.97%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 125.05 92.40 308.85 0.00 0.00 0.00 0.00 0.00 55,240.80 0.00 0.00
NOPAT to Interest Expense		 78.33 60.97 207.02 0.00 0.00 0.00 0.00 0.00 41,077.54 0.00 0.00
EBIT Less CapEx to Interest Expense		 87.41 83.34 276.34 0.00 0.00 0.00 0.00 0.00 22,023.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 40.69 51.90 174.52 0.00 0.00 0.00 0.00 0.00 7,859.74 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 110.84% 81.38% 3.80% 22.36% 32.16% 25.54% 39.51% 215.78% 8.98% 46.79% 28.61%

Quarterly Metrics And Ratios for Trex

This table displays calculated financial ratios and metrics derived from Trex's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 105,737,365.00 103,898,729.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 105,737,365.00 103,898,729.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.58 0.60
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1.90% 56.52% 5.59% -23.08% -14.36% -9.00% 3.01% 22.09% -3.88% 1.00% 7.79%
EBITDA Growth		 60.30% 93.38% 11.37% -31.65% -29.71% -27.98% -9.32% 27.23% -54.82% 6.22% -10.70%
EBIT Growth		 92.34% 108.98% 11.58% -37.12% -45.06% -31.38% -12.41% 29.64% -88.94% 2.26% -15.83%
NOPAT Growth		 99.75% 109.00% 11.52% -37.34% -51.45% -32.08% -12.81% 27.67% -89.45% 1.51% -16.16%
Net Income Growth		 117.85% 116.55% 12.93% -37.87% -55.49% -32.15% -12.75% 27.66% -89.45% 1.60% -18.49%
EPS Growth		 81.82% 115.79% 12.68% -38.33% -50.00% -31.71% -11.25% 29.73% -85.71% 3.57% -15.49%
Operating Cash Flow Growth		 459.19% -50.73% -13.24% -26.43% -108.37% 11.51% 28.95% 48.30% 872.88% 23.11% -14.25%
Free Cash Flow Firm Growth		 120.85% 96.66% 63.72% -208.81% -1,250.66% -2,754.38% -342.48% 9.58% 78.86% 113.88% 118.40%
Invested Capital Growth		 -1.07% 10.62% 15.93% 27.11% 45.99% 31.73% 28.48% 20.88% 6.94% 1.83% 2.23%
Revenue Q/Q Growth		 -35.58% 90.88% 0.76% -37.92% -28.28% 102.83% 14.06% -26.42% -43.53% 113.13% 21.73%
EBITDA Q/Q Growth		 -58.61% 223.84% -2.11% -47.90% -57.44% 231.82% 23.24% -26.90% -76.40% 399.59% 3.62%
EBIT Q/Q Growth		 -67.43% 323.14% -1.77% -53.55% -71.54% 428.46% 25.39% -31.25% -95.02% 2,283.81% 3.22%
NOPAT Q/Q Growth		 -68.90% 342.55% -2.32% -53.39% -75.90% 519.12% 25.40% -31.75% -95.55% 2,566.61% 3.57%
Net Income Q/Q Growth		 -66.37% 305.77% -2.33% -53.39% -75.91% 518.50% 25.61% -31.80% -95.55% 2,567.38% 0.77%
EPS Q/Q Growth		 -66.67% 310.00% -2.44% -53.75% -72.97% 460.00% 26.79% -32.39% -93.75% 1,833.33% 3.45%
Operating Cash Flow Q/Q Growth		 -43.92% -271.99% 211.29% -31.46% -106.38% -1,717.69% 262.16% -21.17% -66.74% -280.84% 280.84%
Free Cash Flow Firm Q/Q Growth		 153.58% -133.17% -379.52% -262.38% -99.66% 17.73% 25.67% 25.95% 49.71% 150.12% -1.45%
Invested Capital Q/Q Growth		 -3.13% 42.19% -6.58% -1.22% 11.26% 28.31% -8.89% -7.06% 1.88% 18.03% -8.53%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 36.09% 45.40% 44.65% 39.88% 32.66% 40.51% 40.78% 40.46% 30.20% 40.48% 37.88%
EBITDA Margin		 21.01% 35.64% 34.63% 29.06% 17.24% 28.21% 30.48% 30.28% 12.66% 29.67% 25.25%
Operating Margin		 14.37% 31.85% 31.05% 23.23% 9.22% 24.02% 26.40% 24.67% 2.17% 24.32% 20.62%
EBIT Margin		 14.37% 31.85% 31.05% 23.23% 9.22% 24.02% 26.40% 24.67% 2.17% 24.32% 20.62%
Profit (Net Income) Margin		 11.21% 23.84% 23.11% 17.35% 5.83% 17.78% 19.57% 18.14% 1.43% 17.88% 14.80%
Tax Burden Percent		 71.56% 74.84% 74.42% 74.67% 63.23% 74.07% 74.08% 73.54% 65.73% 73.53% 73.78%
Interest Burden Percent		 109.07% 100.00% 100.00% 100.01% 100.01% 99.91% 100.08% 100.00% 99.97% 100.00% 97.30%
Effective Tax Rate		 28.44% 25.16% 25.58% 25.33% 36.77% 25.93% 25.92% 26.46% 34.27% 26.47% 26.22%
Return on Invested Capital (ROIC)		 15.55% 30.07% 32.41% 24.24% 7.58% 16.76% 20.21% 20.52% 1.49% 15.47% 14.78%
ROIC Less NNEP Spread (ROIC-NNEP)		 17.26% 30.07% 32.41% 24.25% 7.58% 16.74% 20.24% 20.52% 1.49% 15.47% 14.08%
Return on Net Nonoperating Assets (RNNOA)		 2.98% 12.91% 5.63% 1.67% 0.99% 6.44% 3.24% 1.67% 0.26% 6.63% 3.43%
Return on Equity (ROE)		 18.52% 42.97% 38.04% 25.91% 8.57% 23.20% 23.45% 22.19% 1.75% 22.10% 18.21%
Cash Return on Invested Capital (CROIC)		 29.44% 15.75% 14.52% 4.16% -11.84% -10.72% -7.85% 0.05% 10.20% 12.24% 12.20%
Operating Return on Assets (OROA)		 16.86% 32.29% 33.17% 24.21% 9.41% 18.30% 21.24% 21.42% 1.81% 16.99% 15.74%
Return on Assets (ROA)		 13.16% 24.17% 24.69% 18.08% 5.95% 13.54% 15.74% 15.75% 1.19% 12.49% 11.30%
Return on Common Equity (ROCE)		 18.52% 42.97% 38.04% 25.91% 8.57% 23.20% 23.45% 22.19% 1.75% 22.10% 18.21%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 31.50% 29.42% 26.87% 0.00% 21.73% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 20 89 87 41 9.77 60 76 52 2.30 61 64
NOPAT Margin		 10.28% 23.84% 23.11% 17.35% 5.83% 17.79% 19.56% 18.14% 1.43% 17.88% 15.21%
Net Nonoperating Expense Percent (NNEP)		 -1.71% 0.00% 0.00% -0.01% 0.00% 0.02% -0.04% 0.00% 0.00% 0.00% 0.71%
Return On Investment Capital (ROIC_SIMPLE)		 2.79% - - - 0.93% 4.47% 6.14% 4.49% 0.20% 4.46% 5.03%
Cost of Revenue to Revenue		 63.91% 54.60% 55.35% 60.12% 67.34% 59.49% 59.22% 59.54% 69.80% 59.52% 62.12%
SG&A Expenses to Revenue		 21.72% 13.54% 13.60% 16.64% 23.44% 16.49% 14.37% 15.78% 28.03% 16.17% 17.26%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 21.72% 13.54% 13.60% 16.64% 23.44% 16.49% 14.37% 15.78% 28.03% 16.17% 17.26%
Earnings before Interest and Taxes (EBIT)		 28 119 117 54 15 82 102 70 3.50 84 86
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 41 133 130 68 29 96 118 86 20 102 106
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 12.55 13.47 9.00 8.15 8.70 6.84 5.89 5.32 3.64 3.87 5.15
Price to Tangible Book Value (P/TBV)		 12.87 13.78 9.19 8.33 8.93 7.02 6.06 5.47 3.75 4.00 5.33
Price to Revenue (P/Rev)		 8.21 8.81 6.45 6.14 6.42 5.57 5.16 4.69 3.20 3.27 4.30
Price to Earnings (P/E)		 43.77 42.76 30.60 30.34 32.67 31.48 31.24 28.00 19.76 20.12 29.32
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 2.28% 2.34% 3.27% 3.30% 3.06% 3.18% 3.20% 3.57% 5.06% 4.97% 3.41%
Enterprise Value to Invested Capital (EV/IC)		 12.49 10.79 8.49 7.72 7.23 4.94 4.94 4.94 3.34 3.08 4.33
Enterprise Value to Revenue (EV/Rev)		 8.22 8.99 6.50 6.18 6.60 5.96 5.38 4.78 3.31 3.59 4.51
Enterprise Value to EBITDA (EV/EBITDA)		 27.56 28.29 20.09 19.58 21.08 20.63 19.52 17.12 12.13 12.94 17.33
Enterprise Value to EBIT (EV/EBIT)		 32.56 32.67 23.17 22.91 24.85 24.84 23.92 20.90 15.09 16.28 22.36
Enterprise Value to NOPAT (EV/NOPAT)		 43.79 43.89 31.12 30.82 33.56 33.69 32.52 28.51 20.44 22.10 30.41
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.10 33.41 26.95 28.77 52.79 40.65 27.59 19.85 10.87 10.74 15.21
Enterprise Value to Free Cash Flow (EV/FCFF)		 42.19 72.00 62.73 207.78 0.00 0.00 0.00 10,774.36 33.88 25.38 35.91
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.01 0.28 0.07 0.08 0.24 0.49 0.25 0.11 0.13 0.38 0.25
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.17 0.43 0.17 0.07 0.13 0.38 0.16 0.08 0.17 0.43 0.24
Leverage Ratio		 1.51 1.78 1.54 1.43 1.44 1.71 1.49 1.41 1.47 1.77 1.58
Compound Leverage Factor		 1.65 1.78 1.54 1.43 1.44 1.71 1.49 1.41 1.47 1.77 1.54
Debt to Total Capital		 0.76% 21.71% 6.58% 7.31% 19.25% 32.79% 19.88% 9.65% 11.43% 27.75% 20.03%
Short-Term Debt to Total Capital		 0.76% 21.71% 6.58% 7.31% 19.25% 32.79% 19.88% 9.65% 11.43% 27.75% 20.03%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 99.24% 78.29% 93.42% 92.69% 80.76% 67.21% 80.12% 90.35% 88.57% 72.25% 79.97%
Debt to EBITDA		 0.02 0.57 0.16 0.19 0.56 1.37 0.79 0.34 0.42 1.17 0.81
Net Debt to EBITDA		 0.01 0.56 0.15 0.15 0.56 1.36 0.77 0.30 0.40 1.16 0.78
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.03 0.89 0.24 0.30 0.89 2.24 1.31 0.56 0.70 2.00 1.41
Net Debt to NOPAT		 0.02 0.87 0.24 0.24 0.89 2.22 1.29 0.51 0.68 1.98 1.38
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 28.33 16.23 16.02 14.33 11.90 7.33 8.90 10.81 7.97 5.50 7.65
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.89 1.39 1.78 1.40 0.93 0.98 1.08 1.20 1.24 1.02 1.06
Quick Ratio		 0.47 1.02 1.11 0.61 0.26 0.66 0.71 0.62 0.21 0.59 0.60
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 28 -9.27 -44 -161 -321 -264 -197 -146 -73 37 36
Operating Cash Flow to CapEx		 190.33% -462.71% 545.87% 169.60% -10.48% -194.14% 534.16% 366.17% 150.97% -513.55% 723.63%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -3,480.00 0.00 0.00 -73,222.34 0.00 15.54
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -2,026.49 0.00 0.00 65,486.00 0.00 92.03
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -3,070.30 0.00 0.00 22,108.00 0.00 79.32
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.17 1.01 1.07 1.04 1.02 0.76 0.80 0.87 0.83 0.70 0.76
Accounts Receivable Turnover		 15.73 3.64 4.66 6.92 17.78 2.92 4.02 7.77 17.21 3.28 4.36
Inventory Turnover		 5.17 5.58 6.38 5.46 4.24 4.42 4.72 4.24 2.88 3.53 4.50
Fixed Asset Turnover		 1.69 1.83 1.76 1.55 1.41 1.32 1.27 1.25 1.19 1.16 1.18
Accounts Payable Turnover		 29.27 19.37 15.53 14.54 15.62 13.99 10.86 13.12 14.88 12.85 11.70
Days Sales Outstanding (DSO)		 23.20 100.25 78.40 52.75 20.52 124.82 90.72 47.00 21.21 111.26 83.67
Days Inventory Outstanding (DIO)		 70.58 65.41 57.25 66.84 86.17 82.54 77.41 86.17 126.63 103.42 81.05
Days Payable Outstanding (DPO)		 12.47 18.84 23.50 25.11 23.36 26.09 33.60 27.82 24.54 28.41 31.19
Cash Conversion Cycle (CCC)		 81.31 146.82 112.15 94.49 83.33 181.27 134.52 105.35 123.30 186.28 133.52
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 720 1,024 957 945 1,051 1,349 1,229 1,142 1,164 1,374 1,257
Invested Capital Turnover		 1.51 1.26 1.40 1.40 1.30 0.94 1.03 1.13 1.04 0.87 0.97
Increase / (Decrease) in Invested Capital		 -7.81 98 131 202 331 325 272 197 76 25 27
Enterprise Value (EV)		 8,994 11,052 8,118 7,295 7,597 6,665 6,071 5,641 3,892 4,229 5,446
Market Capitalization		 8,991 10,832 8,056 7,238 7,396 6,226 5,831 5,541 3,762 3,851 5,199
Book Value per Share		 $6.60 $7.40 $8.23 $8.17 $7.93 $8.49 $9.23 $9.72 $9.64 $9.42 $9.72
Tangible Book Value per Share		 $6.43 $7.24 $8.07 $7.99 $7.73 $8.27 $8.97 $9.44 $9.35 $9.11 $9.38
Total Capital		 722 1,027 958 958 1,053 1,354 1,235 1,154 1,168 1,378 1,263
Total Debt		 5.50 223 63 70 203 444 245 111 134 383 253
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 3.54 220 62 57 201 439 240 100 130 378 247
Capital Expenditures (CapEx)		 53 38 35 78 81 79 47 54 43 23 30
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 85 364 251 159 178 430 274 156 189 392 274
Debt-free Net Working Capital (DFNWC)		 87 367 252 172 179 435 280 167 193 396 281
Net Working Capital (NWC)		 81 144 189 102 -24 -9.37 34 56 60 14 28
Net Nonoperating Expense (NNE)		 -1.83 -0.00 0.00 -0.00 -0.00 0.06 -0.06 0.00 0.00 0.00 1.72
Net Nonoperating Obligations (NNO)		 3.54 220 62 57 201 439 240 100 130 378 247
Total Depreciation and Amortization (D&A)		 13 14 13 14 13 14 16 16 17 18 19
Debt-free, Cash-free Net Working Capital to Revenue		 7.74% 29.61% 20.10% 13.45% 15.44% 38.43% 24.27% 13.17% 16.13% 33.26% 22.70%
Debt-free Net Working Capital to Revenue		 7.92% 29.86% 20.20% 14.54% 15.55% 38.88% 24.76% 14.14% 16.45% 33.64% 23.23%
Net Working Capital to Revenue		 7.42% 11.72% 15.16% 8.60% -2.05% -0.84% 3.02% 4.71% 5.08% 1.16% 2.29%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.20 $0.82 $0.80 $0.37 $0.10 $0.56 $0.71 $0.48 $0.03 $0.58 $0.60
Adjusted Weighted Average Basic Shares Outstanding		 108.68M 108.64M 108.69M 108.26M 108.19M 107.18M 107.23M 107.24M 107.01M 105.06M 102.31M
Adjusted Diluted Earnings per Share		 $0.20 $0.82 $0.80 $0.37 $0.10 $0.56 $0.71 $0.48 $0.03 $0.58 $0.60
Adjusted Weighted Average Diluted Shares Outstanding		 108.81M 108.79M 108.81M 108.38M 108.32M 107.28M 107.30M 107.33M 107.10M 105.13M 102.39M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 108.62M 108.69M 108.71M 107.14M 107.16M 107.23M 107.23M 107.25M 105.74M 103.90M 101.87M
Normalized Net Operating Profit after Tax (NOPAT)		 20 89 87 41 9.77 60 76 52 2.30 61 64
Normalized NOPAT Margin		 10.28% 23.84% 23.11% 17.35% 5.83% 17.79% 19.56% 18.14% 1.43% 17.88% 15.21%
Pre Tax Income Margin		 15.67% 31.85% 31.05% 23.24% 9.22% 24.00% 26.42% 24.67% 2.17% 24.32% 20.06%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 1,074.51 0.00 0.00 3,503.00 0.00 37.04
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 795.92 0.00 0.00 2,302.66 0.00 27.33
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 30.70 0.00 0.00 -39,875.00 0.00 24.32
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -247.89 0.00 0.00 -41,075.34 0.00 14.61
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 8.98% 8.69% 2.21% 23.33% 46.79% 53.00% 55.92% 27.45% 28.61% 69.65% 115.04%

Financials Breakdown Chart

Key Financial Trends

Trex (NYSE: TREX) showed a sharp rebound in Q1 2026 versus the prior year, with revenue, earnings, and operating profit all improving materially. Revenue rose to $343.4 million from $340.0 million in Q1 2025, but the bigger story was profitability: operating income climbed to $83.5 million from $81.7 million, while net income increased to $61.4 million from $60.4 million. On a quarter-over-quarter basis, the results were even more dramatic, reflecting the usual seasonal strength in Trex’s business after the weak Q4 period.

Across the last four years, Trex’s trend is mixed but generally constructive on the income statement, while leverage and working capital remain the key concerns. The company has been able to maintain solid gross margins and strong earnings power in stronger selling seasons, but cash flow has been volatile and the balance sheet still carries meaningful debt.

  • Q1 2026 profitability improved year over year. Net income rose to $61.4 million from $60.4 million in Q1 2025, and EPS held at $0.58 despite a slightly lower diluted share count effect.
  • Gross profit remained strong. Q1 2026 gross profit was $139.0 million on $343.4 million of revenue, showing Trex continues to capture healthy margin on sales.
  • Operating income was solid at $83.5 million. That suggests the company is still managing expenses reasonably well relative to revenue.
  • Operating cash flow was positive in Q3 2025 and Q2 2025. Trex generated $196.9 million in operating cash flow in Q3 2025 and $249.8 million in Q2 2025, which supports the idea that the business can throw off strong cash in peak seasons.
  • Equity increased over the past year. Total common equity rose to $995.8 million in Q1 2026 from $910.1 million in Q1 2025, aided by earnings growth and continued retained earnings accumulation.
  • Trex remains highly seasonal. Revenues and profits are much stronger in spring and summer quarters than in Q4, so single-quarter comparisons can be misleading.
  • Share counts have been relatively stable. Diluted shares in Q1 2026 were 105.1 million, only modestly below Q1 2025 levels, so there is no major dilution story here.
  • Capital spending remains meaningful. Trex continues to invest in property, plant and equipment, including $23.1 million in Q1 2026 and larger amounts in stronger quarters, indicating ongoing reinvestment in the business.
  • Operating cash flow turned negative in Q1 2026. Net cash from operations was -$118.4 million, mainly because working capital consumed $200.9 million, which is a notable red flag.
  • Working capital swings have been large and inconsistent. Accounts receivable, inventories, and other operating assets have moved sharply over the last several quarters, making cash generation less predictable.
  • Debt remains elevated. Q1 2026 short-term debt was $382.5 million, and Trex has repeatedly used new borrowings and repayments to manage liquidity.
  • Cash on hand is thin. Cash and equivalents were only $4.5 million at the end of Q1 2026, leaving the company dependent on operating performance and financing flexibility.

Balance sheet trend: Trex’s total assets have grown, but liabilities have also risen materially. In Q1 2026, total liabilities were $734.1 million versus $409.9 million in Q3 2025 and $488.8 million in Q1 2024. The company is still in a manageable position with equity above liabilities, but the debt load and low cash balance mean investors should watch liquidity closely.

Bottom line: Trex looks fundamentally profitable and capable of generating strong cash in its better quarters, but the latest quarter shows how quickly working capital can pressure cash flow. For retail investors, the stock’s story is less about near-term earnings power and more about whether Trex can sustain growth while reducing balance-sheet risk and improving cash conversion.

08/11/26 12:45 AM ETAI Generated. May Contain Errors.

Trex Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Trex's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Trex's net income appears to be on an upward trend, with a most recent value of $190.42 million in 2025, rising from $48.10 million in 2015. The previous period was $238.45 million in 2024. View Trex's forecast to see where analysts expect Trex to go next.

Trex's total operating income in 2025 was $257.96 million, based on the following breakdown:
  • Total Gross Profit: $459.96 million
  • Total Operating Expenses: $202.00 million

Over the last 10 years, Trex's total revenue changed from $440.80 million in 2015 to $1.17 billion in 2025, a change of 166.4%.

Trex's total liabilities were at $419.18 million at the end of 2025, a 13.9% decrease from 2024, and a 338.8% increase since 2015.

In the past 10 years, Trex's cash and equivalents has ranged from $1.29 million in 2024 to $148.83 million in 2019, and is currently $3.81 million as of their latest financial filing in 2025.

Over the last 10 years, Trex's book value per share changed from 3.77 in 2015 to 9.64 in 2025, a change of 155.6%.


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Financial statements for NYSE:TREX last updated on 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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