Compass Diversified Holdings financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Compass Diversified Holdings files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	978	1,270	1,357	1,450	1,561	1,724	1,757	1,690	1,788	1,874
Cost of revenue	652	641	887	806	914	1,062	1,107	1,015	1,038	1,059
Gross profit	327	361	470	457	534	662	649	675	750	814
Research and development	1.7	1.4	1.2	0.8	3	11.4	11.7	13.9	16.9	16.6
Selling, general and administrative	218	262	320	308	360	418	442	502	588	661
Operating income	19.1	24.5	56.6	26	78	123	44.4	-69.4	-14.9	11.1
Interest expense	24.7	27.3	55.2	58.2	45.8	58.8	85.3	110	123	175
Interest income		0	0.08	1.89	0.25	0.01	0.05	1.95	2.05	0.83
Other non-operating income	-2.92	2.75	-5.15	-2.05	-2.61	-1.3	-68.8	-83.1	-143	-14.7
Pre-tax income	63.2	-9.63	-8.41	-60.1	27.2	26.7	-114	-266	-309	-298
Income tax	9.47	-23.7	10.5	9.91	13.6	15.3	29.5	8.2	18.6	-0.95
Income from continuing operations	51.8	5.87	-24.1	-70.7	10	4.46	-93.2	-199	-217	-229
Net income to minority interests	1.85	5.62	3.91	5.28	4.42	12.3	-49	-76.1	-114	-67.3
Net income	54.7	28	-5.7	302	22.8	115	-59.2	109	-209	-226
EBITDA	108	112	152	113	181	235	160	64.2	128	154
EPS, basic							-1.37	0.70	-3.83
EPS, diluted	1.09	-0.94	-0.90	7.80	-0.73	1.56	-1.37	0.70	-3.83	-3.59
Shares, basic (weighted)	25.5	28	28	28	29.5	30.5
Shares, diluted (weighted)	25.5	28	28	28	29.5	30.5	70.7	72.1	75.5	75.2
Dividend per share	3.09	3.09	3.09	3.09	3.09	4.74	1.00	1.00	1.00	0.50

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	39.8	39.9	48.8	100	60	161	52.7	447	59.7	68
Receivables	181	215	206	191	207	278	204	185	207	203
Inventory	213	247	307	317	351	566	561	523	571	404
Other current assets	18.9	24.9	29.7	35.2	40.4	57	53.3	77.8	127	78.4
Total current assets	453	527	681	644	708	1,061	1,015	1,269	965	845
Property, plant and equipment	142	173	147	146	154	186	183	191	245	210
Lease right-of-use assets			0	92.4			143	177	192	147
Goodwill	492	372	471	339	733	586	864	774	896	895
Intangible assets	539	581	616	562	834	873	891	808	983	893
Other non-current assets	9.35	8.2	8.38	101	97.3	142
Total assets	1,777	1,820	2,372	1,892	2,599	3,144	3,493	3,325	3,297	3,039
Accounts payable	61.5	84.5	77.2	70.1	91.7	124	77.1	90.7	103	96.3
Accrued liabilities	91	107	107	109	134	179	233	238	318	163
Deferred revenue							23	40.1	47.9	0
Short-term debt	5.69	5.69	5	0	0	0	10	1,672	1,774	37.5
Total current liabilities	203	212	259	209	295	362	457	2,161	2,433	350
Long-term debt	552	584	1,099	394	899	1,285	1,824	0	0	1,840
Lease liabilities			0	77			137	174	179	126
Other non-current liabilities	17.6	16.7	12.6	89.1	83.7	116	139	203	225	172
Total liabilities	883	894	1,453	726	1,378	1,860	2,564	2,469	2,767	2,466
Total debt	557	590	1,104	394	899	1,285	1,834	1,672	1,774	1,877
Retained earnings	-58.8	-145	-249	-109	-211	-314	-632	-646	-1,005	-1,307
Treasury stock							0	-9.34	-18.9	-18.9
Other comprehensive income	-9.52	-2.57	-8.78	-3.93	-1.46	-1.03	-1.14	0	-5.34	0.74
Shareholders' equity	856	873	859	1,115	1,100	1,112	878	930	679	442
Minority interests	38.1	33.7	39.9	50.5	123	173	13.8	-90	-148	132
Total equity	895	926	919	1,166	1,220	1,011	929	856	531	574
Total liabilities and equity	1,777	1,820	2,372	1,892	2,599	3,144	3,493	3,325	3,297	3,039
Shares outstanding	25.3	28	28	28	30.3	30.3	72.2	75.3	75.2	75.2

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	56.5	33.6	-1.79	307	27.2	127	-108	32.6	-323	-294
Depreciation and amortization	89.2	87.1	95.2	87.1	103	112	116	134	143	143
Stock-based compensation	4.4	4.5	6.7	5.8	9	9.8	10.5	9.5	16.3	16.1
Deferred income tax	-9.87	-39.9	-2.25	-2.06	-1.69	-11.6	3.54	-15	-14.1	-3.73
Change in receivables	-15.6	-15.4	4.48	13.4	-23.5	-19.9	16.3	8.92	-14.9	-3.86
Change in inventory	2.89	-26.8	-18.4	-10.7	-30.7	-94.6	-126	37.1	-40.9	2.58
Change in payables	25.1	7.87	9.82	-12.5	58.5	53	31.4	-39.1	45.1	0.63
Cash from operations	111	81.8	114	84.6	149	134	-46.6	16.6	-151	-6.83
Capital expenditures	-24	-38.4	-41	-26.9	-29.4	-33.1	-60.2	-55	-56.7	-44.3
Acquisitions	-536	-159	-495	0	-667	-357	-569	0	-518	0.5
Cash from investing	-363	-77.3	-604	743	-701	-317	-627	571	-422	-42.6
Debt issued	0	0	400	0	202	1,300	0	0
Stock issued	99.4	0	0	0	83.9	115	83.9	74.3	7.71	-0.06
Share buybacks						0	0	-9.34	-9.57	0
Cash from financing	209	-2.59	500	-780	522	273	575	-199	184	55.1
Exchange rate effect	-3.17	-1.79	2.96	-1.18	0.91	0.23	-1.33	0.79	-1.28	2.71
Net change in cash	-46.1	0.11	13.4	47	-29.6	90	-99.5	389	-391	8.36
Free cash flow	87.4	43.3	73.5	57.6	119	101	-107	-38.4	-208	-51.1
Interest paid	22.8	27.4	51.3	56.4	42.8	58.5	79.4	113	116	134
Income taxes paid	15.3	16	14	15.4	12.2	27.4	24.6	79.1	61.9	29.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $11.25 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	44.6%	Gross profit / revenue.
Operating margin	3.5%	Operating income / revenue.
EBITDA margin	10.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-4.7%	Pre-tax income / revenue.
Net margin	-5.3%	Net income / revenue.
FCF margin	4.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.2%	Cash from operations / revenue.
Return on equity (ROE)	-20.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-3.4%	Net income / average total assets.
Return on invested capital (ROIC)	2.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	34.3%	Selling, general and administrative expense / revenue.
Capex / revenue	1.8%	Capital expenditures / revenue.
D&A / revenue	6.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	3.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	8.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	7.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income CAGR, 3y	-37.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-32.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	20.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-1.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-3.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-50.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-20.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-30.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-34.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-20.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-16.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-7.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-4.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	2.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	20.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.26x	Current assets / current liabilities.
Quick ratio	0.84x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.27x	(Cash + short-term investments) / current liabilities.
Debt / equity	3.35x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	57.5%	Total debt / total assets.
Liabilities / assets	77.9%	Total liabilities / total assets.
Net debt	$1.49B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	8.31x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$408.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	59.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.18B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.65x	Revenue / average total assets.
Fixed asset turnover	9.60x	Revenue / average property, plant and equipment.
Inventory turnover	2.64x	Cost of revenue / average inventory.
Days inventory	138 days	365 x average inventory / cost of revenue.
Receivables turnover	9.62x	Revenue / average receivables.
Days sales outstanding	38 days	365 x average receivables / revenue.
Days payables	28 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	148 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	28.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$2.17	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$23.82	Revenue / diluted weighted shares.
FCF per share	$1.06	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.48	Cash from operations / diluted weighted shares.
Book value per share	$6.28	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$15.63	Tangible book value / shares outstanding.
Cash per share	$1.16	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$846.4M	Share price x shares outstanding.
Enterprise value	$2.34B	Market cap + total debt - cash - short-term investments.
P/S	0.47x	Market cap / revenue.
P/B	1.79x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	10.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.61x	Market cap / cash from operations, when positive.
EV/Sales	1.31x	Enterprise value / revenue.
EV/EBIT	37.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	13.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	29.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.4%	Free cash flow / market cap.
Earnings yield	-11.2%	Net income / market cap (the inverse of P/E).

What was Compass Diversified Holdings's revenue in fiscal 2025?

Compass Diversified Holdings reported revenue of $1.87B for fiscal 2025, 4.8% higher than the year before.

Was Compass Diversified Holdings profitable in fiscal 2025?

No. It reported a net loss of $226.4M.

How much free cash flow did Compass Diversified Holdings generate in fiscal 2025?

Cash from operations of $6.8M minus capital expenditures of $44.3M left free cash flow of -$51.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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