Trex (TREX) FY2018 results: revenue $684 million, up 21.1% on the year
Trex Co. Inc. (TREX) reported revenue of $684 million for fiscal 2018, the year ended 31 December 2018, up 21.1% on the year before. Net income was $135 million, up 41.5%, and diluted earnings per share $1.14. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$684 million
+21.1% on the year
FY2011FY2018
Operating margin
25.8%
25.2% a year earlier
FY2011FY2018
Net income
$135 million
+41.5% on the year
FY2011FY2018
Diluted EPS
$1.14
+41.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
684
565
480
+21.1%
Cost of revenue
389
322
293
+21.0%
Gross profit
295
243
187
+21.2%
Gross margin
43.1%
43.1%
39.0%
Research and development
4.5
3.8
3.7
+18.4%
Selling, general and administrative
118
101
83.1
+17.1%
Operating income
177
142
104
+24.1%
Operating margin
25.8%
25.2%
21.7%
Interest expense
n/a
0.5
1.1
Pre-tax income
177
142
103
+24.6%
Income tax
42.3
46.8
35.0
-9.6%
Effective tax rate
23.9%
33.0%
34.0%
Net income
135
95.1
67.8
+41.5%
Net margin
19.7%
16.8%
14.1%
Diluted EPS
$1.14
$0.81
$0.57
+41.6%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
138
102
85.3
+35.6%
Capital expenditure
33.8
15.0
14.6
+124.8%
Free cash flow
104
86.8
70.7
+20.1%
Free cash flow margin
15.2%
15.4%
14.7%
Cash from investing
-33.7
-86.8
-10.2
Cash from financing
-29.2
-3.2
-62.4
Depreciation and amortisation
16.6
16.9
14.5
-1.6%
Share-based compensation
6.3
5.2
4.8
+22.3%
Buybacks
30.1
3.6
55.2
+731.8%
Diluted shares, weighted
118m
118m
118m
-0.1%
Shares outstanding at period end
117m
118m
118m
-0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
343
231
134
+48.3%
Debt
0.0
0.0
0.0
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
122
95.0
87.3
+28.6%
Total liabilities and equity
465
326
221
+42.6%
Fixed assets
117
103
103
+13.6%
Goodwill
68.5
68.5
10.5
+0.1%
Intangible assets
6.0
2.9
n/a
+111.4%
Cash and equivalents
106
30.5
18.7
+246.4%
Receivables
91.2
66.9
48.0
+36.3%
Inventory
57.8
34.5
28.5
+67.4%
Other assets
18.8
19.9
12.4
-5.6%
Total assets
465
326
221
+42.6%
10-K for the year ended 31 December 2018, filed 14 February 2019: the filing.