Filing Flows › Compass Diversified (CODI) › How it makes money
How Compass Diversified (CODI) makes money
Compass Diversified (CODI) made $423M of revenue in the third quarter 2026 (Q3 2026), -7% from a year earlier. 5.11 Tactical brought in $134M (32%); Altor brought in $64.6M (15%); BOA brought in $53.0M (13%). Of every dollar of revenue, 47¢ was left as gross profit, 8¢ was left as operating profit, 5¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| 5.11 Tactical | $134M | 31.7% | +6% | -7% |
| Altor | $64.6M | 15.3% | -2% | -19% |
| BOA | $53.0M | 12.5% | -10% | +21% |
| Arnold | $47.7M | 11.3% | +10% | +26% |
| The Honey Pot | $42.8M | 10.1% | +11% | +23% |
| Rimports | $35.0M | 8.3% | -21% | -52% |
| Velocity Outdoor | $29.7M | 7.0% | +74% | +2% |
| Primaloft | $16.3M | 3.9% | -45% | +23% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $423M | 100.0% |
| Cost of revenue | $224M | 53.1% |
| Gross profit | $199M | 46.9% |
| Operating expenses | $167M | 39.4% |
| Operating profit | $31.8M | 7.5% |
| Net earnings | $21.5M | 5.1% |
| Operating cash flow | $51.6M | 12.2% |
| Free cash flow | $44.9M | 10.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $423M | -10% |
| Q2 2026 | $424M | -11% |
| Q1 2026 | $427M | -6% |
| Q4 2025 | $469M | -5% |
| Q3 2025 | $473M | +4% |
| Q2 2025 | $479M | +12% |
| Q1 2025 | $454M | +10% |
From Compass Diversified's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Compass Diversified make money?
Compass Diversified (CODI) made $423M of revenue in the third quarter 2026 (Q3 2026), -7% from a year earlier. 5.11 Tactical brought in $134M (32%); Altor brought in $64.6M (15%); BOA brought in $53.0M (13%). Of every dollar of revenue, 47¢ was left as gross profit, 8¢ was left as operating profit, 5¢ was left as net earnings.
What is Compass Diversified's biggest business?
5.11 Tactical: $134M in the third quarter 2026, 32% of revenue, -7% from a year earlier.
What is Compass Diversified's profit margin?
Net earnings were $21.5M, 5.1% of revenue, in the third quarter 2026; the operating margin was 7.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.