Saturday 17 October 2026
Export TPICQ’s income statement to Excel — free account
TPI Composites, Inc.
TPICQ Industrials Specialty Industrial Machinery
In the quarter to December 2025, revenue grew 165.8%, EPS fell 95.5%, free cash flow fell 115.4% and total debt fell 13.7%, each against the same quarter a year earlier.
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
8 | 7 | 1 | 4 | 4 | 4 | 6 | 1 | 4 | 3 |
P/E ratio |
17.89 | 18.91 | 163.87 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/S ratio |
0.35 | 0.74 | 0.82 | 0.45 | 1.64 | 0.38 | 0.28 | 0.21 | 0.10 | 0.00 |
Altman Z-Score |
2.33 | 3.63 | 3.27 | 2.41 | 2.51 | 1.39 | 1.61 | (0.28) | (0.96) | (5.31) |
Altman Z″-Score (non-manufacturers) |
1.12 | 3.20 | 2.04 | 0.87 | 0.49 | (0.09) | 0.30 | (2.81) | (5.76) | (24.15) |
P/FCF ratio |
9.21 | 23.71 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/Operating CF |
8.48 | 22.67 | (41.23) | (114.85) | 506.18 | 206.09 | 18.02 | 35.88 | 1.03 | (0.04) |
Beneish M-Score |
(2.82) | (2.32) | (1.12) | (1.51) | — | — | (3.00) | — | — | — |
P/B ratio |
2.54 | 3.20 | 3.82 | 3.17 | 9.33 | 4.59 | 8.14 | 0.00 | 0.00 | 0.00 |
Price to Tangible BV |
2.61 | 3.26 | 3.95 | 3.28 | 9.66 | 4.81 | 9.26 | 0.00 | 0.00 | 0.00 |
EV/Sales |
0.35 | 0.71 | 0.87 | 0.50 | 1.72 | 0.28 | 0.22 | 0.57 | 0.49 | 1.00 |
EV/EBITDA |
3.84 | 7.31 | 17.33 | 13.15 | 0.00 | 0.00 | 5.59 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
4.55 | 9.05 | (273.81) | 12.60 | 52.22 | (15.99) | (5.28) | (6.06) | 35.03 | (7.23) |
EV/FCF |
9.28 | 22.69 | (15.95) | (41.51) | (69.83) | (6.51) | (4.06) | (4.19) | (31.95) | (6.49) |
Quick Ratio |
0.80 | 1.16 | 0.98 | 0.68 | 0.65 | 0.81 | 0.72 | 0.80 | 0.40 | 0.12 |
Current Ratio |
1.37 | 1.74 | 1.53 | 1.25 | 1.35 | 1.41 | 1.41 | 1.30 | 0.91 | 0.24 |
Net Debt/EBITDA |
0.03 | (0.33) | 0.95 | 1.28 | (15.33) | 3.97 | (1.40) | (2.37) | (4.84) | (3.47) |
Debt/Assets |
28.17% | 22.24% | 22.75% | 17.10% | 22.68% | 7.41% | 6.36% | 60.34% | 72.35% | 126.20% |
Debt/Equity |
1.16 | 0.55 | 0.62 | 0.69 | 1.08 | 0.61 | 1.21 | (3.97) | (1.34) | (0.64) |
Asset Turnover |
2.00 | 1.94 | 1.79 | 2.01 | 1.28 | 1.50 | 1.50 | 0.98 | 1.19 | 1.78 |
Operating CF/Net income |
2.77 | 1.93 | (0.62) | (3.63) | (1.97) | 0.15 | 0.50 | 0.46 | (0.05) | 0.37 |
Capex/Depreciation |
(1.71) | (2.01) | (1.97) | (1.92) | (1.31) | (0.69) | (0.41) | (0.88) | (0.42) | (0.24) |
Interest Coverage |
3.01 | 5.66 | 2.37 | 1.98 | (5.36) | (6.73) | 2.67 | (26.53) | (1.59) | (2.02) |
| (50.95%) | 23.69% | 2.39% | (7.37%) | (9.37%) | (102.54%) | (144.06%) | 494.62% | 97.15% | 64.75% | |
| 5.62% | 7.88% | 0.92% | (2.19%) | (2.13%) | (16.86%) | (12.61%) | (20.11%) | (32.17%) | (65.86%) | |
ROIC |
30.56% | 23.06% | 5.73% | 3.61% | (12.09%) | 0.00% | 0.00% | (56.66%) | 0.00% | 0.00% |
Return on Tangible Assets |
12.00% | 12.98% | 1.74% | (5.24%) | (5.42%) | (49.61%) | (38.17%) | (72.36%) | (785.65%) | 81.98% |
Average Days of Receivables |
32.20 | 46.46 | 62.68 | 46.76 | 42.40 | 37.93 | 45.62 | 58.32 | 15.35 | 20.45 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
4.41% | 4.23% | 4.23% | 2.78% | 2.93% | 1.99% | 2.19% | 5.44% | 5.19% | 3.10% |
Intangible Assets out of Total Assets |
0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 |
Share Based Compensation of Revenue |
1.29% | 0.75% | 0.76% | 0.40% | 0.91% | 0.57% | 1.02% | 1.14% | 0.75% | 0.24% |
Graham Net Nets |
(0.02) | 0.12 | 0.04 | (0.24) | (0.11) | (0.40) | (0.65) | (2.39) | (7.10) | (1,785.42) |
Graham Number |
10.86 | 12.72 | 4.66 | 0.00 | 0.00 | 0.00 | 0.00 | 16.42 | 29.95 | 47.00 |
Earnings Yield |
5.59% | 5.29% | 0.61% | (2.43%) | (1.05%) | (29.08%) | (30.20%) | (100.72%) | (268.25%) | (70,143.00%) |
Free Cash Flow Yield |
10.85% | 4.22% | (6.63%) | (2.67%) | (1.50%) | (11.19%) | (19.72%) | (66.13%) | (15.28%) | (29,034.07%) |
Revenue per Share |
43.87 | 28.22 | 30.01 | 40.97 | 32.17 | 39.35 | 35.24 | 20.25 | 18.75 | 18.92 |
Operating CF per Share |
3.41 | 2.20 | (0.09) | 1.63 | 1.06 | (0.68) | (1.48) | (1.90) | 0.26 | (2.60) |
Capex per Share |
(1.74) | (1.32) | (1.54) | (2.12) | (1.85) | (0.99) | (0.45) | (0.85) | (0.55) | (0.30) |
Free Cash Flow per Share |
1.67 | 0.88 | (1.63) | (0.49) | (0.79) | (1.67) | (1.93) | (2.74) | (0.29) | (2.90) |
Cash per Share |
6.92 | 4.49 | 2.59 | 2.03 | 3.66 | 6.05 | 3.42 | 4.03 | 3.22 | 0.50 |
Shareholders Equity per Share |
6.08 | 6.52 | 6.44 | 5.85 | 5.66 | 3.26 | 1.20 | (2.87) | (7.86) | (14.00) |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
6.08 | 6.52 | 6.44 | 5.85 | 5.66 | 3.26 | 1.20 | (2.87) | (7.86) | (14.00) |
Free Cash Flow |
29.34 | 29.77 | (55.95) | (17.32) | (28.10) | (62.64) | (81.10) | (117.11) | (13.70) | (140.94) |
Working Capital |
88.67 | 174.91 | 144.15 | 94.54 | 142.05 | 191.16 | 188.58 | 116.65 | (44.86) | (484.71) |
Capital Expenditures |
(30.51) | (44.83) | (52.69) | (74.41) | (65.67) | (37.12) | (18.83) | (36.14) | (26.20) | (14.53) |
Net Current Asset Value |
(5.47) | 85.59 | 30.30 | (153.20) | (207.06) | (225.48) | (266.53) | (423.31) | (636.60) | (866.71) |
EV/EBIT |
5.14 | 9.64 | 36.09 | 45.26 | 0.00 | 0.00 | 24.54 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.04 | 0.05 | 0.05 | 0.05 | 0.06 | 0.03 | 0.01 | 0.04 | 0.03 | 0.02 |
Price to Operating Income |
5.10 | 10.07 | 34.12 | 40.85 | 0.00 | 0.00 | 30.68 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.20 | 0.18 | 0.17 | 0.19 | 0.24 | 0.38 | 0.33 | 0.32 | 0.83 | 0.89 |
Cash ROIC |
8.36% | 6.03% | (12.50%) | (4.15%) | (5.13%) | (14.81%) | (31.80%) | (21.90%) | (4.88%) | 63.13% |
Accounts Receivable Turnover |
10.93 | 10.09 | 6.90 | 7.96 | 7.22 | 10.31 | 8.76 | 5.35 | 10.15 | 20.67 |
Accounts Payable Turnover |
6.39 | 6.05 | 5.22 | 5.52 | 3.94 | 5.21 | 5.05 | 3.84 | 5.21 | 7.03 |
Inventory Turnover |
6.63 | 15.43 | 194.33 | 217.98 | 131.96 | 143.87 | 136.76 | 97.07 | 146.22 | 65.69 |
Average Days of Payables |
60.08 | 72.24 | 75.95 | 78.74 | 93.19 | 68.54 | 71.94 | 85.28 | 53.65 | 53.67 |
Days of Inventory on Hand |
56.40 | 1.78 | 2.19 | 1.81 | 3.41 | 2.45 | 2.73 | 3.53 | 1.42 | 9.79 |
Average Receivables |
70.38 | 94.71 | 149.20 | 180.41 | 158.39 | 142.88 | 168.90 | 161.42 | 87.72 | 44.44 |
Average Payables |
106.69 | 139.73 | 183.13 | 246.09 | 294.55 | 289.76 | 282.02 | 254.11 | 184.58 | 146.38 |
Average Inventory |
102.92 | 54.76 | 4.92 | 6.23 | 8.79 | 10.50 | 10.41 | 10.04 | 6.58 | 15.67 |
Average Assets |
383.56 | 491.47 | 575.30 | 715.77 | 891.47 | 981.98 | 984.94 | 883.13 | 748.27 | 517.45 |
Average Common Equity |
(42.34) | 163.53 | 220.76 | 213.00 | 203.04 | 161.49 | 86.22 | (35.91) | (247.77) | (526.35) |
Columns are period end dates