Compass Diversified Holdings CODI
Compass Diversified Holdings, a Delaware statutory trust, was formed in Delaware on November 18, 2005. Compass Group Diversified Holdings, LLC, a Delaware limited liability company, was also formed on November 18, 2005. The Trust and the LLC were formed to acquire and manage a group of small and middle-market businesses headquartered in North America. The Trust is the sole owner of 100% of the Trust Interests, as defined in our LLC Agreement, of the LLC. Pursuant to the LLC Agreement, the Trust owns an identical number of Trust Interests in the LLC as exist for the number of outstanding shares of the Trust.
The Trust was previously treated as a partnership for U.S. federal income tax purposes but elected, effective September 1, 2021, to be taxed as an association taxable as a corporation.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.87B | $1.79B | $1.69B | $1.76B | $1.72B | $1.45B | $1.26B | $1.36B | $1.00B | $730.0M |
| Cost of revenue | $1.06B | $1.04B | $1.02B | $1.11B | $1.06B | $913.8M | $806.4M | $887.5M | $641.4M | $484.3M |
| Gross profit | $814.4M | $750.4M | $674.7M | $649.4M | $661.6M | $533.8M | $456.9M | $469.8M | $361.4M | $245.7M |
| R&D | $16.6M | $16.9M | $13.9M | $11.7M | $11.4M | $3.0M | $800.0K | $1.2M | $1.4M | $1.3M |
| SG&A | $660.7M | $587.5M | $502.0M | $441.6M | $418.4M | $359.6M | $308.4M | $320.1M | $261.5M | $166.5M |
| Operating income | $11.1M | -$14.9M | -$69.4M | $44.4M | $123.1M | $78.0M | $26.0M | $56.6M | $24.5M | $10.8M |
| Interest expense | $175.3M | $122.8M | $109.9M | $85.3M | $58.8M | $45.8M | $58.2M | $55.2M | $27.3M | $24.2M |
| Pre-tax income | -$297.6M | -$309.2M | -$266.5M | -$113.9M | $26.7M | $27.2M | -$60.1M | -$8.4M | -$9.6M | $58.7M |
| Income tax | $945.0K | $18.6M | $8.2M | $29.5M | $15.3M | $13.6M | $9.9M | $10.5M | $23.7M | $13.9M |
| Net income | -$226.4M | -$208.9M | $108.6M | -$59.2M | $126.8M | $22.8M | $301.9M | -$5.7M | $28.0M | $54.7M |
| EPS, basic | — | -3.83 | 0.70 | -1.37 | — | — | — | — | — | — |
| EPS, diluted | -3.59 | -3.83 | 0.70 | -1.37 | 0.73 | -0.34 | 3.64 | -0.42 | -0.44 | 0.51 |
| Shares, diluted (wtd. avg.) | $75.2M | $75.5M | $72.1M | $70.7M | $65.4M | $63.2M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $68.0M | $59.7M | $58.9M | $94.1M | $87.0M | $60.0M | $100.3M | $48.8M | $39.9M | $39.8M |
| Receivables | $202.9M | $207.2M | $179.0M | $204.8M | $197.2M | $206.7M | $191.4M | $205.5M | $215.1M | $181.2M |
| Inventory | $404.1M | $571.2M | $592.1M | $538.0M | $480.8M | $350.6M | $317.3M | $307.4M | $246.9M | $213.0M |
| Total current assets | $845.2M | $964.8M | $987.0M | $999.6M | $925.7M | $708.4M | $644.3M | $681.2M | $526.8M | $452.8M |
| Property, plant and equipment | $209.7M | $244.7M | $188.1M | $167.2M | $164.3M | $153.7M | $146.4M | $146.6M | $173.1M | $142.4M |
| Goodwill | $895.4M | $895.9M | $773.6M | $586.3M | $586.0M | $733.2M | $339.0M | $471.1M | $371.6M | $491.6M |
| Other intangibles | $892.8M | $983.4M | $850.4M | $620.1M | $634.0M | $834.1M | $561.9M | $615.6M | $580.5M | $539.2M |
| Total assets | $3.04B | $3.30B | $3.38B | $2.92B | $2.85B | $2.60B | $1.89B | $2.37B | $1.82B | $1.78B |
| Accounts payable | $96.3M | $103.2M | $78.4M | $94.2M | $81.5M | $91.7M | $70.1M | $77.2M | $84.5M | $61.5M |
| Short-term debt | $37.5M | $1.77B | $1.67B | $10.0M | $0 | $0 | $0 | $5.0M | $5.7M | $5.7M |
| Total current liabilities | $349.6M | $2.43B | $2.21B | $421.9M | $390.4M | $294.7M | $209.5M | $259.3M | $212.2M | $202.5M |
| Long-term debt | $1.84B | $0 | $0 | $1.29B | $1.29B | $899.5M | $394.4M | $1.10B | $584.3M | $551.7M |
| Total liabilities | $2.47B | $2.77B | $2.48B | $1.90B | $1.87B | $1.38B | $726.0M | $1.45B | $894.3M | $882.6M |
| Retained earnings | -$1.31B | -$1.00B | -$641.6M | -$516.2M | -$503.0M | -$211.0M | -$109.3M | -$249.5M | -$145.3M | -$58.8M |
| Total equity | $442.0M | $678.6M | $856.4M | $928.9M | $944.1M | $1.22B | $1.17B | $919.3M | $926.0M | $894.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.8M | -$151.1M | $16.6M | -$46.6M | $134.1M | $148.6M | $84.6M | $114.5M | $81.8M | $111.4M |
| Depreciation and amortisation | $142.5M | $142.7M | $133.6M | $115.9M | $112.0M | $103.3M | $87.1M | $95.2M | $87.1M | $61.6M |
| Capital expenditure | $44.3M | $56.7M | $55.0M | $60.2M | $33.1M | $29.4M | $26.9M | $41.0M | $38.4M | $15.1M |
| Investing cash flow | -$42.6M | -$422.4M | $570.5M | -$626.7M | -$317.5M | -$700.8M | $743.1M | -$604.1M | -$77.3M | -$363.0M |
| Financing cash flow | $55.1M | $184.1M | -$198.7M | $575.2M | $273.2M | $521.7M | -$779.5M | $500.1M | -$2.6M | $208.7M |
| Buybacks | $0 | $9.6M | $9.3M | $0 | $0 | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-014271.
Others in SIC 2510
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SGI | SOMNIGROUP INTERNATIONAL INC. | $14.70B | 38.0x | 51.6% |
| LZB | LA-Z-BOY INC | $1.31B | 13.3x | 0.8% |
| LEG | LEGGETT & PLATT INC | $1.26B | 5.4x | -7.5% |
| XMAX | XMax Inc. | $556.8M | — | 72.6% |
| FLXS | FLEXSTEEL INDUSTRIES INC | $336.2M | 13.5x | 4.1% |
| HOFT | HOOKER FURNISHINGS Corp | $140.9M | — | -12.4% |
| PRPL | Purple Innovation, Inc. | $16.6M | 7.9x | -3.9% |
| NTZ | NATUZZI S P A | — | — | — |