Trex Company, Inc. (TREX) Key Metrics
TREX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.66B
- Enterprise value
- $4.79B
- P/E (TTM)
- 26.9 10-yr median 33.4
- Forward P/E
- 21.0
- PEG ratio
- 1.00
- Price / sales
- 3.9 10-yr median 6.1
- Price / book
- 4.5 10-yr median 12.2
- EV / EBITDA
- 15.3 10-yr median 20.8
- Dividend yield
- —
- Beta
- 1.48
TREX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTREX valuation Price multiples at each fiscal year-end price.
TREX returns How much profit the business earns on the capital it uses.
TREX per-share figures Results divided by the shares outstanding at year-end.
TREX financial health Debt, liquidity and how easily interest is covered.
TREX efficiency & capital use Working capital cycle and where the cash goes.
TREX valuation history
TREX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TREX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TREX cash returned to shareholders
TREX price vs earnings per share
TREX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.76B | $7.48B | $9.01B | $4.74B | $15.63B | $9.73B | $5.27B | $3.51B | $3.21B | $1.91B |
| Enterprise value | $3.98B | $7.72B | $9.04B | $4.98B | $15.52B | $9.65B | $5.16B | $3.45B | $3.22B | $1.89B |
| P/E ratio | 19.7 | 33.0 | 43.9 | 25.7 | 74.9 | 55.4 | 36.4 | 26.1 | 33.7 | 28.1 |
| Price / sales | 3.2 | 6.5 | 8.2 | 4.3 | 13.1 | 11.0 | 7.1 | 5.1 | 5.7 | 4.0 |
| Price / book | 3.6 | 8.8 | 12.6 | 9.1 | 21.6 | 16.5 | 11.7 | 10.2 | 13.9 | 14.2 |
| Price / free cash flow | 30.2 | — | 40.3 | 118.4 | 158.4 | 672.6 | 59.2 | 33.6 | 36.9 | 27.0 |
| Price / operating cash flow | 10.5 | 52.0 | 23.1 | 21.9 | 60.6 | 52.0 | 33.7 | 25.4 | 31.5 | 22.4 |
| EV / sales | 3.4 | 6.7 | 8.3 | 4.5 | 13.0 | 11.0 | 6.9 | 5.0 | 5.7 | 3.9 |
| EV / EBITDA | 12.4 | 21.4 | 27.7 | 16.2 | 43.5 | 38.3 | 25.5 | 17.9 | 20.2 | 15.9 |
| EV / free cash flow | 32.0 | — | 40.5 | 124.5 | 157.3 | 666.6 | 58.0 | 33.1 | 37.1 | 26.7 |
| Earnings yield | 5.1% | 3.0% | 2.3% | 3.9% | 1.3% | 1.8% | 2.7% | 3.8% | 3.0% | 3.6% |
| Free cash flow yield | 3.3% | −1.2% | 2.5% | 0.8% | 0.6% | 0.1% | 1.7% | 3.0% | 2.7% | 3.7% |
| Dividend yield | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 1.4% | 1.4% | 0.2% | 8.4% | 0.5% | 0.5% | 0.9% | 0.9% | 0.1% | 2.9% |
| Share price at fiscal year-end | $35.08 | $69.03 | $82.79 | $42.33 | $135.03 | $83.72 | $44.94 | $29.68 | $27.10 | $16.10 |
| Per share | ||||||||||
| Revenue per share | $10.96 | $10.63 | $10.06 | $9.89 | $10.34 | $7.58 | $6.35 | $5.79 | $4.78 | $4.05 |
| Earnings per share | $1.78 | $2.09 | $1.89 | $1.65 | $1.80 | $1.51 | $1.23 | $1.14 | $0.80 | $0.57 |
| Operating cash flow per share | $3.34 | $1.33 | $3.58 | $1.93 | $2.23 | $1.61 | $1.33 | $1.17 | $0.86 | $0.72 |
| Free cash flow per share | $1.16 | −$0.86 | $2.05 | $0.36 | $0.85 | $0.12 | $0.76 | $0.88 | $0.73 | $0.60 |
| Cash per share | $0.04 | $0.01 | $0.02 | $0.11 | $1.22 | $1.05 | $1.27 | $0.89 | $0.26 | $0.16 |
| Book value per share | $9.66 | $7.85 | $6.59 | $4.63 | $6.26 | $5.06 | $3.83 | $2.90 | $1.95 | $1.13 |
| Tangible book value per share | $9.36 | $6.90 | $6.42 | $4.47 | $6.10 | $4.43 | $3.20 | $2.27 | $1.35 | $0.95 |
| Dividends per share | — | $0.00 | $0.00 | $0.02 | $0.02 | $0.01 | $0.01 | — | $0.00 | $0.00 |
| Capex per share | $2.18 | $2.18 | $1.53 | $1.58 | $1.38 | $1.49 | $0.57 | $0.29 | $0.13 | $0.12 |
| Debt per share | $2.14 | $2.26 | $0.29 | $2.27 | $0.24 | $0.30 | $0.35 | $0.46 | $0.39 | $0.00 |
| Shares outstanding | 107.1M | 108.3M | 108.8M | 111.9M | 115.8M | 116.3M | 117.3M | 118.1M | 118.3M | 118.5M |
| Change in shares outstanding | −1.1% | −0.4% | −2.7% | −3.4% | −0.4% | −0.9% | −0.7% | −0.1% | −0.1% | −6.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 20.2% | 28.9% | 33.3% | 29.7% | 31.8% | 33.8% | 36.5% | 46.9% | 52.1% | 54.1% |
| Return on invested capital (ROIC) | 16.2% | 24.6% | 27.3% | 26.9% | 37.5% | 41.5% | 45.4% | 50.0% | 52.7% | 58.9% |
| Return on assets (ROA) | 13.5% | 20.1% | 22.0% | 19.9% | 24.7% | 25.8% | 27.4% | 34.0% | 34.7% | 31.3% |
| Return on tangible assets | 13.0% | 18.5% | 22.5% | 20.2% | 23.2% | 25.2% | 27.9% | 34.5% | 37.3% | 33.9% |
| Free cash flow margin | 10.6% | −8.1% | 20.4% | 3.6% | 8.2% | 1.6% | 12.0% | 15.2% | 15.4% | 14.7% |
| Income quality (OCF / net income) | 1.88 | 0.64 | 1.90 | 1.17 | 1.24 | 1.07 | 1.08 | 1.03 | 1.07 | 1.26 |
| Financial health | ||||||||||
| Total debt | $229.1M | $244.6M | $32.0M | $253.5M | $28.3M | $35.3M | $41.3M | $54.3M | $45.8M | $0 |
| Cash & short-term investments | $3.8M | $1.3M | $2.0M | $12.3M | $141.1M | $121.7M | $148.8M | $105.7M | $30.5M | $18.7M |
| Net debt | $225.3M | $243.3M | $30.0M | $241.1M | −$112.8M | −$86.4M | −$107.5M | −$51.4M | $15.3M | −$18.7M |
| Debt / equity | 0.22 | 0.29 | 0.04 | 0.49 | 0.04 | 0.06 | 0.09 | 0.16 | 0.20 | 0.00 |
| Debt / assets | 0.15 | 0.18 | 0.03 | 0.27 | 0.03 | 0.05 | 0.07 | 0.12 | 0.14 | 0.00 |
| Net debt / EBITDA | 0.70 | 0.68 | 0.09 | 0.79 | −0.32 | −0.34 | −0.53 | −0.27 | 0.10 | −0.16 |
| Current ratio | 1.24 | 0.93 | 1.89 | 0.99 | 4.52 | 3.03 | 3.85 | 2.91 | 2.38 | 2.06 |
| Quick ratio | 0.29 | 0.33 | 0.72 | 0.50 | 3.58 | 2.39 | 3.14 | 2.29 | 1.83 | 1.50 |
| Interest coverage | — | — | — | 8.0 | 3.0 | 233.9 | 125.2 | 920.2 | 308.9 | 92.4 |
| Working capital | $59.7M | −$23.6M | $81.2M | −$3.8M | $312.4M | $215.6M | $224.5M | $177.4M | $86.3M | $54.3M |
| Invested capital | $1.26B | $1.09B | $746.7M | $759.5M | $612.2M | $502.1M | $341.7M | $291.6M | $246.6M | $115.5M |
| Tangible asset value | $1.00B | $747.6M | $698.5M | $499.7M | $706.0M | $514.9M | $375.1M | $268.5M | $159.9M | $113.1M |
| Net current asset value | −$146.1M | −$155.2M | −$44.0M | −$128.5M | $205.8M | $140.0M | $160.1M | $148.1M | $53.8M | $18.4M |
| Graham number | $19.66 | $19.21 | $16.73 | $13.12 | $15.94 | $13.12 | $10.31 | $8.63 | $5.95 | $3.82 |
| Graham net-net per share | −$2.76 | −$2.80 | −$1.13 | −$2.31 | $0.93 | $0.57 | $0.86 | $0.75 | $0.08 | −$0.15 |
| Capital allocation | ||||||||||
| Dividends paid | — | $0 | $30,000 | $1.7M | $1.8M | $1.4M | $1.1M | — | $0 | $0 |
| Share buybacks (net) | $54.5M | $105.9M | $18.4M | $398.4M | $82.5M | $44.9M | $46.5M | $30.1M | $3.6M | $55.2M |
| Dividend payout ratio | — | 0.0% | 0.0% | 0.9% | 0.9% | 0.8% | 0.8% | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 43.7% | — | 8.3% | — | 85.4% | 320.0% | 53.5% | 28.8% | 4.2% | 78.1% |
| Capex / revenue | 19.9% | 20.6% | 15.2% | 15.9% | 13.3% | 19.6% | 9.0% | 4.9% | 2.7% | 3.0% |
| Capex / operating cash flow | 65.2% | 164.4% | 42.7% | 81.5% | 61.8% | 92.3% | 43.0% | 24.5% | 14.8% | 17.1% |
| Capex / depreciation | 3.71 | 4.33 | 3.31 | 3.98 | 4.43 | 9.63 | 4.79 | 2.04 | 0.89 | 1.00 |
| Stock-based compensation / revenue | 0.8% | 1.1% | 0.9% | 0.5% | 0.7% | 0.8% | 0.9% | 0.9% | 0.9% | 1.0% |
| R&D / revenue | — | — | 0.3% | 0.0% | 0.5% | 0.4% | 0.6% | 0.6% | 0.7% | 0.8% |
| SG&A / revenue | 17.2% | 15.6% | 15.8% | 12.8% | 11.7% | 10.7% | 11.1% | 12.2% | 12.4% | 12.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 21.5 | 22.0 | 24.8 | 42.7 | 43.3 | 44.1 | 46.9 | 47.3 | 39.9 | 36.3 |
| Days of inventory on hand | 113.9 | 86.2 | 70.6 | 58.5 | 37.7 | 43.5 | 47.4 | 43.3 | 35.8 | 32.2 |
| Days payables outstanding | 24.5 | 23.4 | 12.5 | 11.6 | 15.7 | 18.8 | 19.3 | 19.2 | 11.8 | 17.8 |
| Cash conversion cycle (days) | 110.9 | 84.9 | 82.9 | 89.6 | 65.2 | 68.8 | 75.1 | 71.4 | 63.9 | 50.8 |
| Receivables turnover | 16.95 | 16.56 | 14.72 | 8.55 | 8.43 | 8.27 | 7.78 | 7.71 | 9.16 | 10.05 |
| Payables turnover | 14.88 | 15.62 | 29.27 | 31.34 | 23.20 | 19.36 | 18.95 | 18.98 | 31.06 | 20.53 |
| Inventory turnover | 3.20 | 4.24 | 5.17 | 6.24 | 9.69 | 8.39 | 7.71 | 8.43 | 10.20 | 11.33 |
| Asset turnover | 0.83 | 1.02 | 1.17 | 1.19 | 1.42 | 1.29 | 1.41 | 1.73 | 2.06 | 2.21 |
| Average receivables | $69.3M | $69.6M | $74.4M | $129.3M | $142.0M | $106.5M | $95.9M | $88.7M | $61.7M | $47.7M |
| Average payables | $48.0M | $42.6M | $21.9M | $22.4M | $31.7M | $26.9M | $23.2M | $20.5M | $10.4M | $14.2M |
| Average inventory | $223.0M | $157.2M | $124.2M | $112.6M | $76.0M | $62.2M | $57.0M | $46.2M | $31.5M | $25.8M |
| Intangibles / total assets | 2.1% | 7.7% | 1.9% | 2.0% | 2.1% | 9.6% | 12.5% | 16.0% | 21.9% | 9.5% |
Computed from TREX's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TREX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Trex traded at 19.7 times earnings, against a 10-year median of 33.4. Based on the latest twelve months, the trailing P/E is 26.9 and the forward P/E is 21.0. Trex earned a return on equity of 20.2% and a return on invested capital of 16.2% in fiscal 2025. It ended the year with $229.1 million of debt and $3.8 million in cash and short-term investments, net debt of $225.3 million. It returned $54.5 million to shareholders: $0 in dividends and $54.5 million in share buybacks, 44% of free cash flow. The share count fell 9.6% from 118.5M to 107.1M over 9 years.
See the TREX income statement, the TREX chart for price history, or the TREX stock overview for the latest quote and news.
TREX key metrics FAQ
What is Trex's P/E ratio?
Trex's trailing P/E ratio is 26.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 21.0. At the end of fiscal 2025 it was 19.7, compared with a 10-year median of 33.4.
What is Trex's EV/EBITDA?
Trex's enterprise value was 12.4 times EBITDA at the end of fiscal 2025 (enterprise value $4.0 billion, EBITDA $320.9 million); the current EV/EBITDA is 15.3.
What is Trex's return on equity?
Trex's return on equity (ROE) was 20.2% in fiscal 2025: net income of $190.4 million on average shareholders' equity of $942.2 million.
What is Trex's ROIC?
Trex's return on invested capital was 16.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Trex have?
Trex had total debt of $229.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.22 and $225.3 million of net debt (0.70 times EBITDA).
Does Trex buy back its shares?
Yes. Trex spent $54.5 million on net share repurchases in fiscal 2025 Shares outstanding changed −1.1% over the year, to 107.1M..
What is Trex's free cash flow yield?
Trex generated $124.5 million of free cash flow in fiscal 2025, a free cash flow yield of 3.3% on its market value at year-end ($3.8 billion).
What is Trex's current ratio?
Trex's current ratio was 1.24 at the end of fiscal 2025: current assets were 1.24 times current liabilities.