TREX CO INC TREX
Trex Company, Inc. (Trex, Company, we, us or our), was incorporated as a Delaware corporation in 1998. The Company is the world's largest manufacturer of composite decking and railing products, which are marketed under the brand name Trex® and manufactured in the United States. Our principal executive offices are located at 2500 Trex Way, Winchester, Virginia 22601, and our telephone number at that address is (540) 542-6300.
More than 30 years ago, Trex invented the composite decking category. Today, Trex continues to reinvent and redefine outdoor living with a commitment to innovation and growth that has made Trex the world's #1 brand of sustainably made wood-alternative decking and deck railing, along with a comprehensive portfolio of sustainable, high performance, low-maintenance outdoor living products including fencing, cladding, fasteners, and outdoor lighting. Helping homeowners design outdoor spaces that reflect their individual styles and budgets, coupled with Performance- Engineered products at various price points makes Trex the leading brand for homeowners seeking to invest in their outdoor living spaces. Trex's ability to leverage strong brand awareness and a product offering with the advantages of sustainability, low-maintenance, and durability to help fuel conversion from wood decking and railing to Trex positions our Company well within the large and expanding Outdoor Living market.
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 | $1.17B | $1.15B | $1.09B | $1.11B | $1.20B | $880.8M | $745.3M | $684.2M | $565.2M | $479.6M |
| Cost of revenue | $714.3M | $649.6M | $644.0M | $702.1M | $736.4M | $521.4M | $438.8M | $389.4M | $321.8M | $292.5M |
| Gross profit | $460.0M | $501.9M | $450.8M | $404.0M | $460.5M | $359.5M | $306.5M | $294.9M | $243.4M | $187.1M |
| R&D | $4.2M | $3.5M | $3.3M | $500.0K | $6.0M | $3.4M | $3.4M | $4.5M | $3.8M | $3.7M |
| SG&A | $202.0M | $180.0M | $176.2M | $141.8M | $139.6M | $125.8M | $118.3M | $118.2M | $101.0M | $83.1M |
| Operating income | $258.0M | $321.9M | $274.6M | $246.7M | $275.4M | $233.6M | $188.2M | $176.7M | $142.4M | $104.0M |
| Interest expense | $0 | $11.0K | $5.0K | $103.0K | $15.0K | $999.0K | $1.5M | $192.0K | $461.0K | $1.1M |
| Pre-tax income | $258.0M | $321.9M | $274.6M | $246.8M | $275.4M | $234.6M | $189.7M | $176.9M | $141.9M | $102.8M |
| Income tax | $67.5M | $83.5M | $70.5M | $62.2M | $66.7M | $59.0M | $45.0M | $42.3M | $46.8M | $35.0M |
| Net income | $190.4M | $238.4M | $204.1M | $184.6M | $208.7M | $175.6M | $144.7M | $134.6M | $95.1M | $67.8M |
| EPS, basic | 1.78 | 2.20 | 1.88 | 1.65 | 1.81 | 1.52 | 1.24 | 1.15 | 1.62 | 1.16 |
| EPS, diluted | 1.78 | 2.20 | 1.88 | 1.65 | 1.80 | 1.51 | 1.24 | 1.14 | 1.61 | 1.15 |
| Shares, diluted (wtd. avg.) | 107.1M | 108.3M | 108.8M | 111.9M | 115.8M | 116.3M | 117.3M | 118.1M | 59.2M | 59.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.8M | $1.3M | $2.0M | $12.3M | $141.1M | $121.7M | $148.8M | $105.7M | $30.5M | $18.7M |
| Receivables | $48.1M | $88.4M | $41.1M | $98.1M | $151.1M | $106.7M | $78.5M | $91.2M | $66.9M | $48.0M |
| Inventory | $238.7M | $257.0M | $107.1M | $141.4M | $83.8M | $68.2M | $56.1M | $57.8M | $34.5M | $28.5M |
| Total current assets | $310.4M | $368.6M | $172.3M | $286.8M | $401.1M | $322.0M | $303.2M | $270.2M | $148.8M | $105.6M |
| Property, plant and equipment | $1.05B | $922.9M | $709.4M | $589.9M | $460.4M | $336.5M | $171.3M | $117.1M | $103.1M | $103.3M |
| Goodwill | $14.2M | $14.2M | — | — | $14.2M | $68.5M | $68.5M | $68.5M | $68.5M | $10.5M |
| Other intangibles | $17.3M | $7.8M | — | — | — | — | — | $6.0M | $2.9M | — |
| Total assets | $1.45B | $1.37B | $932.9M | $933.7M | $920.3M | $770.5M | $592.2M | $465.1M | $326.2M | $221.4M |
| Accounts payable | $34.8M | $61.3M | $24.0M | $19.9M | $24.9M | $38.6M | $15.2M | $31.1M | $10.0M | $10.8M |
| Total current liabilities | $250.7M | $342.5M | $91.1M | $290.6M | $88.7M | $106.4M | $78.7M | $92.8M | $62.5M | $51.4M |
| Total liabilities | $419.2M | $486.8M | $216.2M | $415.4M | $195.3M | $182.0M | $143.1M | $122.2M | $95.0M | $87.3M |
| Retained earnings | $1.79B | $1.60B | $1.34B | $1.13B | $946.0M | $737.3M | $561.7M | $416.9M | $282.4M | $187.2M |
| Total equity | $1.03B | $887.1M | $741.6M | $544.5M | $725.0M | $588.5M | $449.2M | $343.0M | $231.2M | $134.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $358.1M | $143.9M | $389.4M | $216.2M | $258.1M | $187.3M | $156.4M | $138.1M | $101.9M | $85.3M |
| Depreciation and amortisation | $63.0M | $54.7M | $50.2M | $44.3M | $35.9M | $17.9M | $14.0M | $16.6M | $16.9M | $14.5M |
| Stock-based compensation | $9.1M | $12.6M | $10.2M | $5.3M | $8.4M | $7.1M | $6.9M | $6.3M | $5.2M | $4.8M |
| Capital expenditure | $223.6M | $232.3M | $166.1M | $176.2M | $159.4M | $172.8M | $67.3M | $33.8M | $15.0M | $14.6M |
| Investing cash flow | -$233.2M | -$236.5M | -$166.1M | -$168.9M | -$158.0M | -$170.7M | -$67.2M | -$33.7M | -$86.8M | -$10.2M |
| Financing cash flow | -$122.4M | $91.9M | -$233.7M | -$176.1M | -$80.7M | -$43.8M | -$46.0M | -$29.2M | -$3.2M | -$62.4M |
| Buybacks | $54.5M | $105.9M | $18.4M | $398.4M | $82.5M | $44.9M | $46.5M | $30.1M | $3.6M | $55.2M |
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 0001193125-26-068732.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $479.6M | $565.2M | $684.2M | $745.3M | $880.8M | $1.20B | $1.11B | $1.09B | $1.15B | $1.17B |
| Gross profit | $187.1M | $243.4M | $294.9M | $306.5M | $359.5M | $460.5M | $404.0M | $450.8M | $501.9M | $460.0M |
| Net income | $67.8M | $95.1M | $134.6M | $144.7M | $175.6M | $208.7M | $184.6M | $204.1M | $238.4M | $190.4M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 2400
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| LPX | LOUISIANA-PACIFIC CORP | $5.16B | 35.5x | -7.9% |
| KOP | Koppers Holdings Inc. | $759.9M | 14.7x | -10.2% |
| NWGL | CL Workshop Group Ltd | — | — | -15.4% |