Filing Flows › Trex (TREX) › Q4 2025
Trex (TREX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Trex (TREX) reported revenue of $161M for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and -44% from the quarter before. Operating margin was 2.2%, net earnings $2.3M (1.4% of revenue).
Trex, Q4 2025: revenue $161M (-4% year over year), operating margin 2.2%, net earnings $2.3M, operating cash flow $65.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $161M | -44% | -4% |
| Gross profit | $48.7M | -58% | -31% |
| Operating profit | $3.5M | -95% | -89% |
| Net earnings | $2.3M | -96% | -89% |
| Operating cash flow | $65.5M | -67% | — |
| Free cash flow | $22.1M | -85% | — |
What changed
Revenue was $161.1M in Q4 2025, down 4% year over year and down 44% from the previous quarter.
Gross margin was 30.2%, down 12.1 points from a year earlier. Operating profit was $3.5M, a 2.2% margin (down 16.7 points year over year). Operating expenses grew 15% against a revenue fall of 4%. Net earnings were $2.3M, down 89% year over year. The effective tax rate was 34.3%.
Operating cash flow was $65.5M, 2845% of net earnings. Non-cash charges added back $16.9M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $43.6M. Capital expenditures of $43.4M left free cash flow of $22.1M.
Questions
What was Trex's revenue in the fourth quarter 2025?
Trex (TREX) reported revenue of $161M for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and -44% from the quarter before.
Was Trex profitable in the fourth quarter 2025?
Operating profit was $3.5M (2.2% of revenue) and net earnings $2.3M.
Source: Trex 10-K on SEC EDGAR.