Filing Flows › Compass Diversified (CODI) › Q4 2025
Compass Diversified (CODI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Compass Diversified (CODI) reported revenue of $469M for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and -0.8% from the quarter before. Operating margin was 9.8%, net loss $78.8M (16.8% of revenue).
Compass Diversified, Q4 2025: revenue $469M (-5% year over year), operating margin 9.8%, net loss $78.8M, operating cash flow $47.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $469M | -0.8% | -5% |
| Operating profit | $46.0M | — | — |
| Net earnings | −$78.8M | — | — |
| Operating cash flow | $47.0M | +340% | — |
| Free cash flow | $36.9M | 77× | — |
What changed
Revenue was $468.6M in Q4 2025, down 5% year over year and down 1% from the previous quarter.
Gross margin was 43.1%, up 4.5 points from a year earlier. Operating profit was $46.0M, a 9.8% margin (up 13.6 points year over year). Operating expenses fell 25% while revenue fell 5%. The quarter ended with a net loss of $78.8M, narrower than the previous quarter's $87.2M loss. Minority interests bore $7.6M of it: to shareholders the quarter was a loss of $71.2M. Net interest and other expense of $151.4M was the main reason.
Operating cash flow was $47.0M. Non-cash charges added back $34.5M of depreciation and amortization. Working capital and other items added $91.3M. Capital expenditures of $10.1M left free cash flow of $36.9M.
Questions
What was Compass Diversified's revenue in the fourth quarter 2025?
Compass Diversified (CODI) reported revenue of $469M for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and -0.8% from the quarter before.
Was Compass Diversified profitable in the fourth quarter 2025?
Operating profit was $46.0M (9.8% of revenue) and net loss $78.8M.