Trex (TREX) FY2019 results: revenue $745 million, up 8.9% on the year
Trex Co. Inc. (TREX) reported revenue of $745 million for fiscal 2019, the year ended 31 December 2019, up 8.9% on the year before. Net income was $145 million, up 7.6%, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$745 million
+8.9% on the year
FY2012FY2019
Operating margin
25.2%
25.8% a year earlier
FY2012FY2019
Net income
$145 million
+7.6% on the year
FY2012FY2019
Diluted EPS
$1.24
+8.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
745
684
565
+8.9%
Cost of revenue
439
389
322
+12.7%
Gross profit
307
295
243
+3.9%
Gross margin
41.1%
43.1%
43.1%
Research and development
3.4
4.5
3.8
-24.4%
Selling, general and administrative
118
118
101
+0.1%
Operating income
188
177
142
+6.5%
Operating margin
25.2%
25.8%
25.2%
Interest expense
n/a
n/a
0.5
Pre-tax income
190
177
142
+7.3%
Income tax
45.0
42.3
46.8
+6.3%
Effective tax rate
23.7%
23.9%
33.0%
Net income
145
135
95.1
+7.6%
Net margin
19.4%
19.7%
16.8%
Diluted EPS
$1.24
$1.14
$0.81
+8.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
156
138
102
+13.2%
Capital expenditure
67.3
33.8
15.0
+98.9%
Free cash flow
89.1
104
86.8
-14.6%
Free cash flow margin
12.0%
15.2%
15.4%
Cash from investing
-67.2
-33.7
-86.8
Cash from financing
-46.0
-29.2
-3.2
Depreciation and amortisation
14.0
16.6
16.9
-15.5%
Share-based compensation
6.9
6.3
5.2
+9.2%
Buybacks
46.5
30.1
3.6
+54.7%
Diluted shares, weighted
117m
118m
118m
-0.7%
Shares outstanding at period end
116m
117m
118m
-0.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
449
343
231
+31.0%
Debt
0.0
0.0
0.0
Operating lease liabilities
34.2
0.0
n/a
Other liabilities
109
122
95.0
-10.9%
Total liabilities and equity
592
465
326
+27.3%
Fixed assets
171
117
103
+46.2%
Goodwill
68.5
68.5
68.5
0.0%
Intangible assets
n/a
6.0
2.9
Cash and equivalents
149
106
30.5
+40.8%
Receivables
78.5
91.2
66.9
-13.9%
Inventory
56.1
57.8
34.5
-2.9%
Other assets
69.0
18.8
19.9
+267.8%
Total assets
592
465
326
+27.3%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.