TREX on NYSE

Trex Company, Inc.

Logo: www.trex.com, Non-free logo, via Wikipedia4

American building materials company

Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1996Founded1

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  • TickerTREX on NYSE1
  • IndustryLumber & Wood Products (No Furniture)1
  • HeadquartersWinchester1
  • Websitetrex.com
  • Incorporated inDE5
  • Business address2500 Trex Way, Winchester, Va 226015
  • Filer categoryLarge accelerated filer5

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Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia. The company distributes its products through a network of more than 6,700 retail outlets across six continents.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

39.2%Gross margin7
22.0%Operating margin7
16.2%Net margin7
2.0%Revenue growth, 20257
18.4%Return on equity7
$134.5MFree cash flow7

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue61¢$714.3M
  • Research and development0¢$4.2M
  • Selling, general and admin17¢$202.0M
  • Income tax6¢$67.5M
  • Profit16¢$190.4M

Out of $1.2B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending62¢$223.6M
  • Share buybacks15¢$54.5M
  • Kept or used elsewhere22¢$80.0M

Out of $358.1M of cash from operations.7

Financial statements

Revenue8910117$1.2B in 2025+58% since 2019
0$500.0M$1.0B$1.5B2019: $745.3M$745.3M20192020: $880.8M$880.8M2020+18%2021: $1.2B$1.2B2021+36%2022: $1.1B$1.1B2022−8%2023: $1.1B$1.1B2023−1%2024: $1.2B$1.2B2024+5%2025: $1.2B$1.2B2025+2%
Gross profit8910117$460.0M in 2025+50% since 2019
0$200.0M$400.0M$600.0M2019: $306.5M$306.5M20192020: $359.5M$359.5M2020+17%2021: $460.5M$460.5M2021+28%2022: $404.0M$404.0M2022−12%2023: $450.8M$450.8M2023+12%2024: $501.9M$501.9M2024+11%2025: $460.0M$460.0M2025−8%
Operating income8910117$258.0M in 2025+37% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $188.2M$188.2M20192020: $233.6M$233.6M2020+24%2021: $275.4M$275.4M2021+18%2022: $246.7M$246.7M2022−10%2023: $274.6M$274.6M2023+11%2024: $321.9M$321.9M2024+17%2025: $258.0M$258.0M2025−20%
Net income8910117$190.4M in 2025+32% since 2019
0$100.0M$200.0M$300.0M2019: $144.7M$144.7M20192020: $175.6M$175.6M2020+21%2021: $208.7M$208.7M2021+19%2022: $184.6M$184.6M2022−12%2023: $204.1M$204.1M2023+11%2024: $238.4M$238.4M2024+17%2025: $190.4M$190.4M2025−20%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 1 quarters (quarterly), latest first.7

Period ending2025-12-312024-12-312023-12-31
Net sales$1.2B$1.2B$1.1B
Cost of sales$714.3M$649.6M$644.0M
Gross profit$460.0M$501.9M$450.8M
Selling, general and administrative expenses$202.0M$180.0M$176.2M
Income from operations$258.0M$321.9M$274.6M
Interest (income) expense, net$0-$11.0K$5.0K
Income before income taxes$258.0M$321.9M$274.6M
Provision for income taxes$67.5M$83.5M$70.5M
Net income$190.4M$238.4M$204.1M
Basic earnings per common share$1.78$2.20$1.88
Basic weighted average common shares outstanding107.0M shares108.2M shares108.7M shares
Diluted earnings per common share$1.78$2.20$1.88
Diluted weighted average common shares outstanding107.1M shares108.3M shares108.8M shares
Comprehensive income$190.4M$238.4M$204.1M

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The story

In 1988, Roger Wittenberg combined sawdust and plastic bags to create a park bench. In 1996, Mobil Chemical Co. acquired Wittenberg's technology and formed Trex, LLC. Trex is widely considered to be one of the inventors of composite decking made from recyclable materials. The idea for a process and product created to maximize the use of materials that would otherwise wind up in landfills is credited to inventors Kjell-Ake Gustafsson, of Binghamton, New York; John J. Muller, of Winchester, Virginia; and Roger A. Wittenberg of Newton, Pennsylvania. The first patent for a "Method of Producing a Wood-Thermoplastic Composite Material" was filed as U.S. Patent number 5746958 in March 1995 and granted in May 1998.

1988

The concept of a wood-plastic composite material called Revenite is invented by Roger Wittenberg.

1992

Wittenberg’s technology is acquired by Mobil Chemical Company for $10 million to create Mobil’s Composite Products Division with Wittenberg at the helm.

Rivenite is renamed Timbrex.

1994

Timbrex is renamed Trex.

1996

Four Mobil executives, including Wittenberg, complete a leveraged buyout of the decking assets to form Trex Company, LLC.

1999

Trex Company acquires Trex Company, LLC on April 7 and one week later completes its IPO trading under the symbol TWP on the New York Stock Exchange (NYSE).

2004

Trex forges an unprecedented agreement to sell products through The Home Depot.

Read the full text

2009

Trex joins the U.S. Green Building Council.

2012

Trex begins shipping products internationally to distributors across Europe, Australia, Asia and the Middle East.

2015

Trex begins producing recycled polyethylene pellets for the commercial plastics market.

2017

Trex recycled pellets achieve ICC certification.

Trex acquires Minneapolis-based SC Company, including Staging Concepts and SC Railing, to form Trex Commercial Products.

2020

Trex publishes first Sustainability Report.

2021

Trex revenue exceeds $1 billion.

2022

Trex sells Trex Commercial Products, Inc., to Minnesota-based Sightline Commercial Solutions, LLC.

From Wikipedia’s article on Trex Company, Inc., shared under CC BY-SA 4.0.6

Leadership

Who has led Trex Company, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Anthony J. Cavanna2007
  2. Ronald W. Kaplan2008–2015
  3. James E. Cline2015–2020
  4. Bryan Horix Fairbanks2021–now

Chair

  1. Anthony J. Cavanna2007

President

  1. Andrew U. Ferrari2007
  2. Ronald W. Kaplan2008–2015
  3. James E. Cline2015–2020
  4. Adam Dante Zambanini2019–2023
  5. Bryan Horix Fairbanks2021–now

Chief financial officer

  1. Paul D. Fletcher2006–2007
  2. James E. Cline2008–2015
  3. Bryan Horix Fairbanks2015–2020
  4. Dennis Charles Schemm2020–2023
  5. Brenda Lovcik2023–2025
  6. Prithvi Gandhi2025–now

Chief operating officer

  1. Andrew U. Ferrari2007
  2. Adam Dante Zambanini2024–now
200020052010201520202025
Board members and other officers (29)

Products and brands

  • deck

Listed on Wikidata.1

Manufacturing

Trex is America's largest manufacturer of composite decking. Its manufacturing process combines recycled plastic film, like grocery bags and dry cleaning wrap, with reclaimed wood, some of which is swept from the floors of furniture factories. To procure the amount of plastic film necessary for production, Trex works with grocery store chains like Albertsons, which has contributed more than 200 million pounds of recycled plastic film to the NexTrex recycling program. Trex uses approximately 300 million pounds of recycled plastic film annually to make its composite decking.

Trex operates three manufacturing facilities in the United States in Winchester, Virginia, Fernley, Nevada, and Little Rock, Arkansas. The Virginia facility opened in 1993, followed by the Nevada plant in 1999. In 2021, Trex announced plans to develop a multi-faceted production site in Little Rock. A topping out ceremony was held in 2024. In March 2025, lines began running at the polyethylene film recycling and pellet processing plant. Decking production is expected to begin in 2027.

Products

The company offers five tiers of composite decking products and provides a variety of residential railing profiles, colors, and materials. Through licensing agreements, Trex-branded complementary items are available for purchase.

Product issues

A manufacturing problem at the Trex manufacturing facility in Fernley, Nevada, from 2002 to 2007 led to production of decking boards that were prone to surface flaking. These boards were sold throughout 16 Western states in the U.S. and resulted in a class-action suit against the company. In a settlement approved in 2010, Trex agreed to replace any decking boards, including some resulting labor costs, for decking affected by surface flaking.

From Wikipedia’s article on Trex Company, Inc., shared under CC BY-SA 4.0.6

Timeline

  1. Feb 16, 2021New chief executive Bryan Horix Fairbanks becomes CEO15
  2. Aug 19, 2015New chief executive James E. Cline becomes CEO16
  3. Jan 9, 2008New chief executive Ronald W. Kaplan becomes CEO17
  4. Feb 23, 2007New chief executive Anthony J. Cavanna becomes CEO18
  5. 1996Founded Founded1

Filings

331 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 65 major events, 190 insider forms, 27 large holders, 29 other. The latest 20:

  1. Oct 5, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 5, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 4, 2026SCHEDULE 13G/A EDGAR
  4. Sep 2, 20268-K/A EDGAR
  5. Sep 2, 20268-K/A EDGAR
  6. Aug 28, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 28, 20263 PRIMARY DOCUMENT EDGAR
  8. Aug 24, 20268-K EDGAR
  9. Aug 13, 2026SCHEDULE 13G/A EDGAR
  10. Aug 11, 20264 PRIMARY DOCUMENT EDGAR
  11. Aug 7, 2026144 EDGAR
  12. Aug 7, 2026SCHEDULE 13G EDGAR
  13. Aug 6, 2026SCHEDULE 13G/A EDGAR
  14. Aug 4, 202610-Q EDGAR
  15. Aug 4, 20268-K EDGAR
  16. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  17. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  18. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  19. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  20. Jul 30, 20264 PRIMARY DOCUMENT EDGAR

The 331 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 27 such filings since October 2021, the latest 10:

  1. Sep 4, 2026SCHEDULE 13G/A
  2. Aug 13, 2026SCHEDULE 13G/A
  3. Aug 7, 2026SCHEDULE 13G
  4. Aug 6, 2026SCHEDULE 13G/A
  5. May 15, 2026SCHEDULE 13G/A
  6. Apr 30, 2026SCHEDULE 13G
  7. Mar 27, 2026SCHEDULE 13G/A
  8. Feb 17, 2026SCHEDULE 13G/A
  9. Feb 10, 2026SCHEDULE 13G
  10. Nov 14, 2025SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.10,493,216$525.1M0.0%+132,057
Wellington Management Group Llp9,877,116$494.3M0.1%+1,518,338
Vanguard Capital Management LLC4,701,079$235.2M0.0%−47,333
Vanguard Portfolio Management LLC4,444,799$222.4M0.0%−39,896
Alliancebernstein L.P.6,039,140$219.9M0.1%−391,838
Millennium Management LLC3,773,886$188.8M0.1%+3,276,802
Wasatch Advisors LP3,757,238$188.0M1.2%+220,488
Aqr Capital Management LLC3,633,238$181.0M0.1%−613,146
American Century Companies Inc3,308,378$165.6M0.1%+1,632,363
State Street Corp3,247,388$162.5M0.0%−2,723
Citadel Advisors LLC2,236,735$111.9M0.1%+895,496
Clearbridge Investments, LLC2,168,849$108.5M0.1%+47,728
Morgan Stanley2,113,486$105.8M0.0%−26,764
Geode Capital Management, LLC1,928,184$96.5M0.0%−47,496
Bank Of America Corp /de/1,895,509$94.9M0.0%−124,890
Arrowstreet Capital, Limited Partnership1,766,003$88.4M0.0%+533,939
Dimensional Fund Advisors LP1,713,362$85.7M0.0%+12,813
Goldman Sachs Group Inc1,622,917$81.2M0.0%+598,435
Point72 Asset Management, L.P.1,520,782$76.1M0.1%+153,353
Westwood Holdings Group Inc1,504,036$75.3M0.6%−244,575
Two Sigma Investments, LP1,331,721$66.6M0.1%−130,704
Federated Hermes, Inc.1,327,948$66.5M0.1%−156,397
Impax Asset Management Group plc1,304,299$65.3M0.4%−462,069
Norges Bank1,258,986$63.0M0.0%New
Charles Schwab Investment Management Inc1,124,192$56.3M0.0%+36,049

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Apr 3, 2023Tommy TubervilleRepublican, SenateSale$1,001 - $15,000+94.2%Report
Oct 6, 2022Tommy TubervilleRepublican, SenateBuy$1,001 - $15,000−116.7%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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