Trex Company (TREX) financial statements
Trex Company reported revenue of $1.2B in fiscal 2025, up 10.5% a year over 9 years.
Net income was $190M and the operating margin 22.0%, against 21.7% in 2016.
Free cash flow was $135M, and the company returned $54M in net buybacks.
The diluted share count fell 10% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Trex Company's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $480M | $565M | $684M | $745M | $881M | $1.2B | $1.1B | $1.1B | $1.2B | $1.2B |
| Cost of revenue | $293M | $322M | $389M | $439M | $521M | $736M | $702M | $644M | $650M | $714M |
| Gross profit | $187M | $243M | $295M | $307M | $359M | $461M | $404M | $451M | $502M | $460M |
| Research and development | $4M | $4M | $4M | $3M | $3M | $6M | $500,000 | $3M | $4M | $4M |
| Selling, general and admin | $83M | $101M | $118M | $118M | $126M | $140M | $142M | $176M | $180M | $202M |
| Operating income | $104M | $142M | $177M | $188M | $234M | $275M | $247M | $275M | $322M | $258M |
| Interest expense | $1M | $461,000 | — | — | — | — | — | — | — | — |
| Pre-tax income | $103M | $142M | $177M | $190M | $235M | $275M | $247M | $275M | $322M | $258M |
| Income tax | $35M | $47M | $42M | $45M | $59M | $67M | $62M | $70M | $83M | $68M |
| Net income | $68M | $95M | $135M | $145M | $176M | $209M | $185M | $204M | $238M | $190M |
| EPS (diluted) | $0.57 | $0.81 | $1.14 | $1.24 | $1.51 | $1.80 | $1.65 | $1.88 | $2.20 | $1.78 |
| Diluted shares | 118M | 118M | 118M | 117M | 116M | 116M | 112M | 109M | 108M | 107M |
| Gross margin | 39.0% | 43.1% | 43.1% | 41.1% | 40.8% | 38.5% | 36.5% | 41.2% | 43.6% | 39.2% |
| Operating margin | 21.7% | 25.2% | 25.8% | 25.2% | 26.5% | 23.0% | 22.3% | 25.1% | 28.0% | 22.0% |
| Net margin | 14.1% | 16.8% | 19.7% | 19.4% | 19.9% | 17.4% | 16.7% | 18.6% | 20.7% | 16.2% |
Balance sheet
Fiscal years, from Trex Company's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $19M | $31M | $106M | $149M | $122M | $141M | $12M | $2M | $1M | $4M |
| Receivables | $48M | $67M | $91M | $78M | $107M | $151M | $98M | $41M | $88M | $48M |
| Inventory | $29M | $35M | $58M | $56M | $68M | $84M | $141M | $107M | $257M | $239M |
| Total current assets | $106M | $149M | $270M | $303M | $322M | $401M | $287M | $172M | $369M | $310M |
| Property, plant and equipment | $103M | $103M | $117M | $171M | $337M | $460M | $590M | $709M | $923M | $1.0B |
| Goodwill | $11M | $68M | $68M | $68M | $68M | $14M | — | — | $14M | $14M |
| Total assets | $221M | $326M | $465M | $592M | $770M | $920M | $934M | $933M | $1.4B | $1.5B |
| Total current liabilities | $51M | $63M | $93M | $79M | $106M | $89M | $291M | $91M | $342M | $251M |
| Total liabilities | $87M | $95M | $122M | $143M | $182M | $195M | $415M | $216M | $487M | $419M |
| Shareholders' equity | $134M | $231M | $343M | $449M | $589M | $725M | $545M | $742M | $887M | $1.0B |
| Net debt | -$19M | -$31M | -$106M | -$149M | -$122M | -$141M | -$12M | -$2M | -$1M | -$4M |
Cash flow
Fiscal years, from Trex Company's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $85M | $102M | $138M | $156M | $187M | $258M | $216M | $389M | $144M | $358M |
| Capital spending | $15M | $15M | $34M | $67M | $173M | $159M | $176M | $166M | $232M | $224M |
| Free cash flow | $71M | $87M | $104M | $89M | $14M | $99M | $40M | $223M | -$88M | $135M |
| Stock-based compensation | $5M | $5M | $6M | $7M | $7M | $8M | $5M | $10M | $13M | $9M |
| Share buybacks (net) | -$55M | -$4M | -$30M | -$47M | -$45M | -$82M | -$398M | -$18M | -$106M | -$54M |
| Free cash flow margin | 14.7% | 15.4% | 15.2% | 12.0% | 1.6% | 8.2% | 3.6% | 20.4% | -7.7% | 11.5% |
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Open TREX in InvestinglyQuestions
What was Trex Company's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Trex Company generate?
$135M in fiscal 2025 (operating cash flow minus capital spending).
From Trex Company's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.