What is Trex Co's earnings per share (EPS)?

Trex Co (TREX) reported diluted earnings per share of $1.78 for fiscal year 2025. This represents a -19.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Trex Co Financials

TREX

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Trex Co (TREX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 55/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Trex Co has an operating margin of 22.0%, meaning the company retains $22 of operating profit per $100 of revenue. This strong profitability earns a score of 71/100, reflecting efficient cost management and pricing power. This is down from 28.0% the prior year.

Growth

Trex Co's revenue grew a modest 2.0% year-over-year to $1.2B. This slow but positive growth earns a score of 37/100.

Leverage

Trex Co carries a low D/E ratio of 0.41, meaning only $0.41 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Trex Co's current ratio of 1.24 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 20/100, which could limit financial flexibility.

Cash Flow

Trex Co has a free cash flow margin of 11.5%, earning a moderate score of 54/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Trex Co's ROE of 18.4% shows moderate profitability relative to equity, earning a score of 52/100. This is down from 26.9% the prior year.

Altman Z-Score Safe

8.45

Trex Co scores 8.45, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.7B) relative to total liabilities ($419.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral

5/9

Trex Co passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.88x

For every $1 of reported earnings, Trex Co generates $1.88 in operating cash flow ($358.1M OCF vs $190.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.2B

YoY+2.0%

5Y CAGR+5.9%

10Y CAGR+10.3%

Trex Co generated $1.2B in revenue in fiscal year 2025. This represents an increase of 2.0% from the prior year.

EBITDA

$320.9M

YoY-14.8%

5Y CAGR+5.0%

10Y CAGR+13.3%

Trex Co's EBITDA was $320.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 14.8% from the prior year.

Net Income

$190.4M

YoY-20.1%

5Y CAGR+1.6%

10Y CAGR+14.8%

Trex Co reported $190.4M in net income in fiscal year 2025. This represents a decrease of 20.1% from the prior year.

EPS (Diluted)

$1.78

YoY-19.1%

5Y CAGR+3.3%

10Y CAGR+1.6%

Trex Co earned $1.78 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 19.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$134.5M

YoY+252.2%

5Y CAGR+56.2%

10Y CAGR+13.1%

Trex Co generated $134.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 252.2% from the prior year.

Cash & Debt

$3.8M

YoY+194.7%

5Y CAGR-50.0%

10Y CAGR-4.4%

Trex Co held $3.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

106M

YoY-1.3%

5Y CAGR-1.8%

10Y CAGR+13.5%

Trex Co had 106M shares outstanding in fiscal year 2025. This represents a decrease of 1.3% from the prior year.

Margins & Returns

Gross Margin

39.2%

YoY-4.4pp

5Y CAGR-1.6pp

10Y CAGR+4.0pp

Trex Co's gross margin was 39.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.4 percentage points from the prior year.

Operating Margin

22.0%

YoY-6.0pp

5Y CAGR-4.5pp

10Y CAGR+4.4pp

Trex Co's operating margin was 22.0% in fiscal year 2025, reflecting core business profitability. This is down 6.0 percentage points from the prior year.

Net Margin

16.2%

YoY-4.5pp

5Y CAGR-3.7pp

10Y CAGR+5.3pp

Trex Co's net profit margin was 16.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.5 percentage points from the prior year.

Return on Equity

18.4%

YoY-8.5pp

5Y CAGR-11.4pp

10Y CAGR-22.9pp

Trex Co's ROE was 18.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 8.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$4.2M

YoY+20.0%

5Y CAGR+4.3%

10Y CAGR+10.8%

Trex Co invested $4.2M in research and development in fiscal year 2025. This represents an increase of 20.0% from the prior year.

Share Buybacks

$54.5M

YoY-48.6%

5Y CAGR+4.0%

10Y CAGR+0.2%

Trex Co spent $54.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 48.6% from the prior year.

Capital Expenditures

$223.6M

YoY-3.8%

5Y CAGR+5.3%

10Y CAGR+25.4%

Trex Co invested $223.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 3.8% from the prior year.

TREX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.2B+2.0%	$1.2B+5.2%	$1.1B-1.0%	$1.1B-7.6%	$1.2B+35.9%	$880.8M
Cost of Revenue	$714.3M+10.0%	$649.6M+0.9%	$644.0M-8.3%	$702.1M-4.7%	$736.4M+41.3%	$521.4M
Gross Profit	$460.0M-8.4%	$501.9M+11.3%	$450.8M+11.6%	$404.0M-12.3%	$460.5M+28.1%	$359.5M
R&D Expenses	$4.2M+20.0%	$3.5M+6.1%	$3.3M+560.0%	$500K-91.7%	$6.0M+76.5%	$3.4M
SG&A Expenses	$202.0M+12.2%	$180.0M+2.2%	$176.2M+24.2%	$141.8M+1.6%	$139.6M+11.0%	$125.8M
Operating Income	$258.0M-19.9%	$321.9M+17.2%	$274.6M+11.3%	$246.7M-10.4%	$275.4M+17.9%	$233.6M
Interest Expense	$0	$0-100.0%	$78K	$0-100.0%	$15K-98.5%	$999K
Income Tax	$67.5M-19.1%	$83.5M+18.4%	$70.5M+13.3%	$62.2M-6.7%	$66.7M+13.0%	$59.0M
Net Income	$190.4M-20.1%	$238.4M+16.8%	$204.1M+10.6%	$184.6M-11.6%	$208.7M+18.8%	$175.6M
EPS (Diluted)	$1.78-19.1%	$2.20+17.0%	$1.88+13.9%	$1.65-8.3%	$1.80+19.2%	$1.51

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$161.1M-43.5%	$285.3M-26.4%	$387.8M+14.1%	$340.0M+102.8%	$167.6M-28.3%	$233.7M-37.9%	$376.5M+0.8%	$373.6M
Cost of Revenue	$112.5M-33.8%	$169.9M-26.0%	$229.7M+13.6%	$202.3M+109.3%	$96.7M-31.2%	$140.5M-32.6%	$208.4M+2.1%	$204.0M
Gross Profit	$48.7M-57.8%	$115.4M-27.0%	$158.1M+14.8%	$137.7M+94.1%	$71.0M-23.9%	$93.2M-44.6%	$168.1M-0.9%	$169.6M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$45.2M+0.3%	$45.0M-19.2%	$55.7M-0.6%	$56.1M+42.7%	$39.3M+1.0%	$38.9M-24.0%	$51.2M+1.2%	$50.6M
Operating Income	$3.5M-95.0%	$70.4M-31.3%	$102.4M+25.4%	$81.7M+157.7%	$31.7M-41.7%	$54.3M-53.5%	$116.9M-1.8%	$119.0M
Interest Expense	N/A	N/A	$77K+201.3%	-$76K	N/A	$5K	N/A	$5K
Income Tax	$1.2M-93.6%	$18.6M-29.9%	$26.6M+25.6%	$21.2M+114.6%	$9.9M-28.3%	$13.8M-54.0%	$29.9M-0.1%	$29.9M
Net Income	$2.3M-95.6%	$51.8M-31.8%	$75.9M+25.6%	$60.4M+176.9%	$21.8M-46.2%	$40.6M-53.4%	$87.0M-2.3%	$89.1M
EPS (Diluted)	N/A	$0.48-32.4%	$0.71+26.8%	$0.56+180.0%	$0.20-45.9%	$0.37-53.8%	$0.80-2.4%	$0.82

TREX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.5B+5.8%	$1.4B+47.3%	$932.9M-0.1%	$933.7M+1.5%	$920.3M+19.4%	$770.5M
Current Assets	$310.4M-15.8%	$368.6M+114.0%	$172.3M-39.9%	$286.8M-28.5%	$401.1M+24.6%	$322.0M
Cash & Equivalents	$3.8M+194.7%	$1.3M-34.0%	$2.0M-84.1%	$12.3M-91.3%	$141.1M+15.9%	$121.7M
Inventory	$238.7M-7.1%	$257.0M+139.9%	$107.1M-24.2%	$141.4M+68.8%	$83.8M+22.7%	$68.2M
Accounts Receivable	$48.1M-45.6%	$88.4M+114.8%	$41.1M-58.0%	$98.1M-35.1%	$151.1M+41.5%	$106.7M
Goodwill	$14.2M0.0%	$14.2M	N/A	N/A	$14.2M-79.2%	$68.5M
Total Liabilities	$419.2M-13.9%	$486.8M+125.2%	$216.2M-47.9%	$415.4M+112.7%	$195.3M+7.3%	$182.0M
Current Liabilities	$250.7M-26.8%	$342.5M+276.1%	$91.1M-68.7%	$290.6M+227.6%	$88.7M-16.6%	$106.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.0B+16.6%	$887.1M+19.6%	$741.6M+36.2%	$544.5M-24.9%	$725.0M+23.2%	$588.5M
Retained Earnings	$1.8B+11.9%	$1.6B+19.7%	$1.3B+18.2%	$1.1B+19.5%	$946.0M+28.3%	$737.3M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.5B+0.1%	$1.5B-5.6%	$1.5B-6.3%	$1.6B+19.4%	$1.4B+8.4%	$1.3B-0.2%	$1.3B-1.8%	$1.3B
Current Assets	$310.4M-8.1%	$337.8M-25.5%	$453.5M-23.4%	$592.2M+60.7%	$368.6M+4.5%	$352.7M-18.7%	$433.8M-15.5%	$513.4M
Cash & Equivalents	$3.8M-66.5%	$11.4M+105.6%	$5.5M+11.3%	$5.0M+284.1%	$1.3M-89.9%	$12.8M+995.4%	$1.2M-61.6%	$3.1M
Inventory	$238.7M+59.6%	$149.6M+5.4%	$141.8M-19.6%	$176.4M-31.3%	$257.0M+36.7%	$187.9M+26.3%	$148.9M+20.2%	$123.9M
Accounts Receivable	$48.1M-70.7%	$164.0M-43.7%	$291.2M-25.5%	$391.1M+342.6%	$88.4M-36.9%	$140.1M-48.1%	$270.0M-27.7%	$373.5M
Goodwill	$14.2M	N/A	N/A	N/A	$14.2M	N/A	N/A	N/A
Total Liabilities	$419.2M+2.2%	$410.0M-25.3%	$548.6M-25.0%	$731.1M+50.2%	$486.8M+28.3%	$379.3M+1.1%	$375.0M-23.3%	$488.8M
Current Liabilities	$250.7M-11.2%	$282.2M-32.7%	$419.4M-30.3%	$601.6M+75.7%	$342.5M+36.3%	$251.2M+2.8%	$244.4M-33.8%	$369.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.0B-0.8%	$1.0B+5.4%	$989.3M+8.7%	$910.1M+2.6%	$887.1M-0.1%	$887.9M-0.8%	$894.9M+11.3%	$804.1M
Retained Earnings	$1.8B+2.2%	$1.8B+3.0%	$1.7B+4.7%	$1.6B+1.5%	$1.6B+3.0%	$1.6B+2.7%	$1.5B+6.1%	$1.4B

TREX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$358.1M+148.8%	$143.9M-63.0%	$389.4M+80.1%	$216.2M-16.2%	$258.1M+37.8%	$187.3M
Capital Expenditures	$223.6M-3.8%	$232.3M+39.9%	$166.1M-5.8%	$176.2M+10.6%	$159.4M-7.8%	$172.8M
Free Cash Flow	$134.5M+252.2%	-$88.4M-139.6%	$223.3M+458.4%	$40.0M-59.5%	$98.7M+581.8%	$14.5M
Investing Cash Flow	-$233.2M+1.4%	-$236.5M-42.4%	-$166.1M+1.7%	-$168.9M-6.9%	-$158.0M+7.4%	-$170.7M
Financing Cash Flow	-$122.4M-233.1%	$91.9M+139.3%	-$233.7M-32.7%	-$176.1M-118.2%	-$80.7M-84.3%	-$43.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$54.5M-48.6%	$105.9M+474.2%	$18.4M-95.4%	$398.4M+383.0%	$82.5M+83.9%	$44.9M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$65.5M-66.7%	$196.9M-21.2%	$249.8M+262.2%	-$154.0M-1717.7%	-$8.5M-106.4%	$132.8M-31.5%	$193.7M+211.3%	-$174.0M
Capital Expenditures	$43.4M-19.6%	$53.9M+15.3%	$46.8M-41.1%	$79.5M-1.7%	$80.9M+3.3%	$78.3M+120.6%	$35.5M-5.9%	$37.7M
Free Cash Flow	$22.1M-84.5%	$142.9M-29.6%	$203.0M+186.9%	-$233.5M-161.4%	-$89.3M-264.0%	$54.5M-65.6%	$158.2M+174.7%	-$211.8M
Investing Cash Flow	-$45.1M+21.1%	-$57.1M-12.0%	-$51.0M+36.2%	-$80.0M+6.1%	-$85.2M-8.8%	-$78.3M-120.6%	-$35.5M+5.7%	-$37.6M
Financing Cash Flow	-$28.0M+79.1%	-$133.9M+32.4%	-$198.2M-183.4%	$237.6M+189.5%	$82.1M+291.7%	-$42.8M+73.3%	-$160.1M-175.2%	$212.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$50.4M+201656.0%	$25K	$0-100.0%	$4.0M-92.0%	$50.3M+0.4%	$50.1M+11684.7%	$425K-91.7%	$5.1M

TREX Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	39.2%-4.4pp	43.6%+2.4pp	41.2%+4.6pp	36.5%-1.9pp	38.5%-2.3pp	40.8%
Operating Margin	22.0%-6.0pp	28.0%+2.9pp	25.1%+2.8pp	22.3%-0.7pp	23.0%-3.5pp	26.5%
Net Margin	16.2%-4.5pp	20.7%+2.1pp	18.6%+2.0pp	16.7%-0.8pp	17.4%-2.5pp	19.9%
Return on Equity	18.4%-8.5pp	26.9%-0.6pp	27.5%-6.4pp	33.9%+5.1pp	28.8%-1.1pp	29.8%
Return on Assets	13.1%-4.2pp	17.3%-4.5pp	21.9%+2.1pp	19.8%-2.9pp	22.7%-0.1pp	22.8%
Current Ratio	1.24+0.2	1.08-0.8	1.89+0.9	0.99-3.5	4.52+1.5	3.03
Debt-to-Equity	0.41-0.1	0.55+0.3	0.29-0.5	0.76+0.5	0.27-0.0	0.31
FCF Margin	11.5%+19.1pp	-7.7%-28.1pp	20.4%+16.8pp	3.6%-4.6pp	8.2%+6.6pp	1.6%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	30.2%-10.3pp	40.5%-0.3pp	40.8%+0.3pp	40.5%-1.8pp	42.3%+2.5pp	39.9%-4.8pp	44.6%-0.8pp	45.4%
Operating Margin	2.2%-22.5pp	24.7%-1.7pp	26.4%+2.4pp	24.0%+5.1pp	18.9%-4.3pp	23.2%-7.8pp	31.1%-0.8pp	31.9%
Net Margin	1.4%-16.7pp	18.1%-1.4pp	19.6%+1.8pp	17.8%+4.8pp	13.0%-4.3pp	17.3%-5.8pp	23.1%-0.7pp	23.8%
Return on Equity	0.2%-4.8pp	5.0%-2.7pp	7.7%+1.0pp	6.6%+4.2pp	2.5%-2.1pp	4.6%-5.1pp	9.7%-1.4pp	11.1%
Return on Assets	0.2%-3.4pp	3.6%-1.4pp	4.9%+1.3pp	3.7%+2.1pp	1.6%-1.6pp	3.2%-3.7pp	6.9%-0.0pp	6.9%
Current Ratio	1.24+0.0	1.20+0.1	1.08+0.1	0.98-0.1	1.08-0.3	1.40-0.4	1.77+0.4	1.39
Debt-to-Equity	0.41+0.0	0.39-0.2	0.55-0.2	0.80+0.3	0.55+0.1	0.430.0	0.42-0.2	0.61
FCF Margin	13.7%-36.4pp	50.1%-2.2pp	52.3%+121.0pp	-68.7%-15.4pp	-53.3%-76.6pp	23.3%-18.7pp	42.0%+98.7pp	-56.7%

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Frequently Asked Questions

What is Trex Co's annual revenue?

Trex Co (TREX) reported $1.2B in total revenue for fiscal year 2025. This represents a 2.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Trex Co's revenue growing?

Trex Co (TREX) revenue grew by 2% year-over-year, from $1.2B to $1.2B in fiscal year 2025.

Is Trex Co profitable?

Yes, Trex Co (TREX) reported a net income of $190.4M in fiscal year 2025, with a net profit margin of 16.2%.

What is Trex Co's EBITDA?

Trex Co (TREX) had EBITDA of $320.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Trex Co's gross margin?

Trex Co (TREX) had a gross margin of 39.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Trex Co's operating margin?

Trex Co (TREX) had an operating margin of 22.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Trex Co's net profit margin?

Trex Co (TREX) had a net profit margin of 16.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Trex Co's return on equity (ROE)?

Trex Co (TREX) has a return on equity of 18.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Trex Co's free cash flow?

Trex Co (TREX) generated $134.5M in free cash flow during fiscal year 2025. This represents a 252.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Trex Co's operating cash flow?

Trex Co (TREX) generated $358.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Trex Co's total assets?

Trex Co (TREX) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Trex Co's capital expenditures?

Trex Co (TREX) invested $223.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Trex Co spend on research and development?

Trex Co (TREX) invested $4.2M in research and development during fiscal year 2025.

Does Trex Co buy back shares?

Yes, Trex Co (TREX) spent $54.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Trex Co have outstanding?

Trex Co (TREX) had 106M shares outstanding as of fiscal year 2025.

What is Trex Co's current ratio?

Trex Co (TREX) had a current ratio of 1.24 as of fiscal year 2025, which is considered adequate.

What is Trex Co's debt-to-equity ratio?

Trex Co (TREX) had a debt-to-equity ratio of 0.41 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Trex Co's return on assets (ROA)?

Trex Co (TREX) had a return on assets of 13.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Trex Co's Altman Z-Score?

Trex Co (TREX) has an Altman Z-Score of 8.45, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Trex Co's Piotroski F-Score?

Trex Co (TREX) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Trex Co's earnings high quality?

Trex Co (TREX) has an earnings quality ratio of 1.88x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Trex Co?

Trex Co (TREX) scores 55 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.