Trex Company (TREX) Cash Flow: Operating & Free Cash Flow

Trex Company Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Trex Company, Inc. (TREX) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	190.42	238.45	204.12	184.63	208.74	175.63	144.74	134.57	95.13
Depreciation & Amortization	62.96	54.67	50.19	44.30	35.95	17.94	14.03	16.60	16.86
Deferred Income Tax	17.11	-12.23	3.87	24.26	21.01	13.13	7.71	1.04	0.19
Stock Based Compensation	9.12	12.64	10.16	5.33	8.44	7.13	6.93	6.34	5.19
Change in Working Capital	78.04	-152.42	116.38	-57.57	-70.31	-26.53	-17.12	-20.07	-16.84
Change in Accounts Receivable	40.27	-47.22	56.92	42.51	-44.35	-28.29	12.70	-24.28	-10.49
Change in Inventory	18.29	-116.42	35.88	-64.45	-15.52	-12.13	1.70	-23.28	-3.64
Change in Accounts Payable	6.88	-0.82	2.70	-5.60	-3.47	11.35	-16.67	21.13	-4.80
Change in Other Working Capital	12.61	0.19	-0.75	-30.03	-6.97	7.30	-14.85	6.36	2.09
Other Operating Activities	0.47	0.19	6.96	15.28	54.24	13.18	0.07	-0.36	1.33
Net Cash from Operating Activities	358.11	143.93	389.42	216.22	258.06	187.29	156.35	138.12	101.87
Investing Activities
Capital Expenditures	-233.58	-236.64	-166.09	-176.23	-159.39	-172.82	-67.27	-33.82	-15.04
Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-71.80
Sales/Maturities of Investments	0.00	-4.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.36	0.11	0.00	7.34	1.36	2.17	0.02	0.08	0.06
Net Cash from Investing Activities	-233.22	-236.54	-166.09	-168.88	-158.04	-170.66	-67.24	-33.73	-86.79
Financing Activities
Debt Repayment	-69.10	-645.20	-810.00	222.00	0.00	-276.00	0.00	0.00	0.00
Common Stock Issued	1.19	1.28	1.22	0.00	0.00	1.45	0.00	0.00	0.00
Common Stock Repurchased	-54.47	-105.94	-18.45	-398.38	-82.47	-44.85	-46.55	-30.09	-3.62
Other Financing Activities	0.01	-0.50	0.03	0.32	1.80	-0.36	0.57	0.88	0.39
Net Cash from Financing Activities	-122.38	91.94	-233.70	-176.06	-80.67	-43.77	-45.97	-29.20	-3.23
Summary
Net Change in Cash	2.52	-0.67	-10.37	-128.73	19.35	-27.13	43.13	75.19	11.85
Cash at Beginning of Period	1.29	1.96	12.33	141.05	121.70	148.83	105.70	30.51	18.66
Cash at End of Period	3.81	1.29	1.96	12.33	141.05	121.70	148.83	105.70	30.51
Free Cash Flow	124.54	-92.71	223.33	39.99	98.67	14.47	89.09	104.31	86.83
Supplemental Disclosures
Interest Paid	-	-	0.05	-	-	-	-	-	-
Income Taxes Paid	-	85.17	52.34	59.93	38.61	50.74	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Trex Company Cash Flow

What is Trex Company's free cash flow?

Trex Company generated free cash flow of $124.54M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $358.11M minus $233.57M of capital expenditures. Free cash flow equaled 10.6% of revenue.

How much does Trex Company spend on capital expenditures?

Trex Company spent $233.57M on capital expenditures in fiscal 2025, compared with $236.64M a year earlier. That equals 65.2% of operating cash flow.

Does Trex Company pay dividends or buy back shares?

Yes. In fiscal 2025 Trex Company returned $54.47M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition