REZI (REZI) financial statements
REZI reported revenue of $7.5B in fiscal 2025, up 5.9% a year over 9 years.
Net income was -$527M and the operating margin 8.1%, against 11.9% in 2016.
Free cash flow was -$1.3B.
The diluted share count rose 22% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from REZI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.5B | $4.5B | $4.8B | $5.0B | $5.1B | $5.8B | $6.4B | $6.2B | $6.8B | $7.5B |
| Cost of revenue | $3.1B | $3.2B | $3.4B | $3.7B | $3.7B | $4.3B | $4.6B | $4.5B | $4.9B | $5.3B |
| Gross profit | $1.4B | $1.3B | $1.4B | $1.3B | $1.3B | $1.6B | $1.8B | $1.7B | $1.9B | $2.2B |
| Research and development | — | — | — | $87M | $74M | $86M | $111M | $109M | $111M | $167M |
| Selling, general and admin | $870M | $871M | $932M | $932M | $889M | $909M | $974M | $960M | $1.1B | $1.3B |
| Operating income | $530M | $445M | $493M | $258M | $311M | $559M | $611M | $547M | $520M | $607M |
| Interest expense | — | — | $20M | $69M | $63M | $48M | $54M | $65M | $81M | $135M |
| Pre-tax income | $310M | $166M | $104M | $71M | $101M | $353M | $418M | $313M | $221M | -$457M |
| Income tax | $133M | $560M | -$301M | $35M | $64M | $111M | $135M | $103M | $105M | $70M |
| Net income | $177M | -$394M | $405M | $36M | $37M | $242M | $283M | $210M | $116M | -$527M |
| EPS (diluted) | $1.44 | -$3.22 | $3.30 | $0.29 | $0.29 | $1.63 | $1.90 | $1.42 | $0.61 | -$3.77 |
| Diluted shares | 122M | 122M | 123M | 123M | 126M | 148M | 149M | 148M | 149M | 149M |
| Gross margin | 30.6% | 29.1% | 29.5% | 25.6% | 26.5% | 27.1% | 27.7% | 27.2% | 28.1% | 29.4% |
| Operating margin | 11.9% | 9.8% | 10.2% | 5.2% | 6.1% | 9.6% | 9.6% | 8.8% | 7.7% | 8.1% |
| Net margin | 4.0% | -8.7% | 8.4% | 0.7% | 0.7% | 4.1% | 4.4% | 3.4% | 1.7% | -7.1% |
Balance sheet
Fiscal years, from REZI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $47M | $56M | $265M | $122M | $517M | $775M | $326M | $636M | $692M | $661M |
| Receivables | — | $779M | $821M | $817M | $863M | $876M | $1.0B | $973M | $1.0B | $1.1B |
| Inventory | — | $465M | $628M | $671M | $672M | $740M | $975M | $941M | $1.2B | $1.4B |
| Total current assets | — | $1.4B | $1.8B | $1.8B | $2.2B | $2.5B | $2.5B | $2.7B | $3.2B | $3.4B |
| Property, plant and equipment | $261M | $265M | $300M | $316M | $318M | $287M | $366M | $390M | $410M | $447M |
| Goodwill | $2.6B | $2.6B | $2.6B | $2.6B | $2.7B | $2.7B | $2.7B | $2.7B | $3.1B | $3.1B |
| Total assets | — | $4.5B | $5.0B | $5.1B | $5.6B | $5.9B | $6.4B | $6.6B | $8.2B | $8.4B |
| Total current liabilities | — | $1.1B | $1.5B | $1.5B | $1.5B | $1.5B | $1.5B | $1.5B | $1.8B | $1.8B |
| Long-term debt | — | — | $1.2B | $1.2B | $1.2B | $1.2B | $1.4B | $1.4B | $2.0B | $3.2B |
| Total liabilities | — | $1.9B | $3.4B | $3.5B | $3.6B | $3.6B | $3.9B | $3.9B | $4.9B | $5.5B |
| Shareholders' equity | $2.9B | $2.6B | $1.5B | $1.6B | $2.0B | $2.3B | $2.5B | $2.7B | $3.3B | $2.9B |
| Net debt | -$47M | -$56M | $936M | $1.1B | $645M | $455M | $1.1B | $772M | $1.3B | $2.5B |
Cash flow
Fiscal years, from REZI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $151M | $37M | $462M | $23M | $244M | $315M | $152M | $440M | $444M | -$1.1B |
| Capital spending | $60M | $49M | $64M | $95M | $70M | $63M | $85M | $105M | $80M | $116M |
| Free cash flow | $91M | -$12M | $398M | -$72M | $174M | $252M | $67M | $335M | $364M | -$1.3B |
| Stock-based compensation | $13M | $16M | $20M | $25M | $29M | $39M | $50M | $44M | $59M | $57M |
| Share buybacks (net) | — | — | — | — | — | $0 | $0 | -$41M | -$1M | $0 |
| Net borrowing | — | — | $1.2B | -$22M | -$22M | $62M | $188M | -$12M | $571M | $1.2B |
| Free cash flow margin | 2.0% | -0.3% | 8.2% | -1.4% | 3.4% | 4.3% | 1.1% | 5.4% | 5.4% | -16.8% |
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Open REZI in InvestinglyQuestions
What was REZI's revenue in 2025?
$7.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does REZI generate?
-$1.3B in fiscal 2025 (operating cash flow minus capital spending).
From REZI's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.