Trex Company, Inc.
TREX Industrials Building Products & Equipment
Trex Company, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 1.98% from fiscal 2024. In the quarter to June 2026, revenue grew 7.79%, EPS fell 15.5%, free cash flow fell 8.48% and total debt rose 3.08%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Trex Company, Inc. (TREX) Altman Z-score
Trex Company, Inc.'s Altman Z-score for fiscal 2025 is 8.54, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 8.54 | (3.93) |
| FY2024 | 12.47 | (16.76) |
| FY2023 | 29.22 | 18.65 |
| FY2022 | 10.58 | (41.46) |
| FY2021 | 52.04 | 16.22 |
| FY2020 | 35.81 | 9.70 |
| FY2019 | 26.12 | 4.55 |
| FY2018 | 21.56 | (3.26) |
| FY2017 | 24.83 | 6.62 |
| FY2016 | 18.21 | 6.43 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.04 | — | 0.05 | |
| Retained earnings / total assets | 1.23 | — | 1.72 | |
| EBIT / total assets | 0.18 | — | 0.59 | |
| Market value of equity / total liabilities | 8.96 | — | 5.37 | |
| Sales / total assets | 0.81 | — | 0.81 | |
| Altman Z-score | Safe zone | 8.54 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 8.07 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| TREX Trex Company, Inc. | 8.5× |
| AWI Armstrong World Industries, Inc. compare | 7.8× |
| AAON AAON, Inc. compare | 6.9× |
| LPX Louisiana-Pacific Corporation compare | 6.2× |
| SPXC SPX Technologies, Inc. compare | 5.6× |
| GFF Griffon Corporation compare | 3.2× |
| BLDR Builders FirstSource, Inc. compare | 2.7× |
| FBIN Fortune Brands Innovations, Inc. compare | 2.7× |
| OC Owens Corning Inc compare | 2.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets