Trex (TREX) FY2014 results: revenue $392 million, up 14.3% on the year
Trex Co. Inc. (TREX) reported revenue of $392 million for fiscal 2014, the year ended 31 December 2014, up 14.3% on the year before. Net income was $42 million, up 20.0%, and diluted earnings per share $0.32. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$392 million
+14.3% on the year
FY2009FY2014
Operating margin
17.3%
7.2% a year earlier
FY2009FY2014
Net income
$42 million
+20.0% on the year
FY2009FY2014
Diluted EPS
$0.32
+25.7% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
392
343
307
+14.3%
Cost of revenue
251
244
223
+3.1%
Gross profit
140
98.6
84.6
+42.2%
Gross margin
35.8%
28.8%
27.5%
Research and development
2.3
2.9
2.9
-20.7%
Selling, general and administrative
72.4
74.0
71.9
-2.2%
Operating income
67.8
24.7
12.7
+175.1%
Operating margin
17.3%
7.2%
4.1%
Interest expense
0.9
0.6
8.9
+45.8%
Pre-tax income
66.9
24.0
3.7
+178.4%
Income tax
25.4
-10.5
1.0
Effective tax rate
38.0%
-43.9%
27.1%
Net income
41.5
34.6
2.7
+20.0%
Net margin
10.6%
10.1%
0.9%
Diluted EPS
$0.32
$0.25
$0.02
+25.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
58.6
45.2
60.4
+29.7%
Capital expenditure
13.0
13.1
7.6
-0.7%
Free cash flow
45.7
32.1
52.9
+42.1%
Free cash flow margin
11.7%
9.4%
17.2%
Cash from investing
n/a
n/a
-7.5
Cash from financing
n/a
n/a
-55.3
Depreciation and amortisation
15.2
16.3
17.0
-6.5%
Share-based compensation
4.8
3.8
3.5
+26.1%
Buybacks
53.2
31.3
5.5
+70.1%
Diluted shares, weighted
131m
137m
137m
-4.4%
Shares outstanding at period end
128m
134m
136m
-4.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
113
107
94.0
+6.3%
Debt
0.0
0.0
5.0
Other liabilities
82.4
81.5
69.6
+1.1%
Total liabilities and equity
196
188
169
+4.1%
Fixed assets
98.7
101
104
-2.1%
Goodwill
10.5
10.5
10.5
0.0%
Cash and equivalents
9.5
3.8
2.2
+153.0%
Receivables
36.4
37.3
26.5
-2.5%
Inventory
23.7
22.4
17.5
+5.9%
Other assets
16.9
13.3
7.5
+26.9%
Total assets
196
188
169
+4.1%
10-K for the year ended 31 December 2014, filed 24 February 2015: the filing.