CompX International Inc. (CIX) Income Statement

29Y historyFree accessUpdated daily

Revenue growth has reaccelerated to 8.0% year-over-year in 2026Q2 with gross margins expanding to a record 35.6%, a significant 10-point recovery from the 25.5% low in 2024Q1, demonstrating strong pricing power and operating leverage.

Annual statement

CIX Income Statement

CompX International Inc. (CIX) annual income statement — 29-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97

Sales/Revenue	161.83M	158.28M	145.94M	161.29M	166.56M	140.81M	114.54M	124.24M	118.2M	112M	108.9M	109M	103.8M	92.05M	83.2M	138.84M	135.26M	116.1M	165.5M	177.68M	190.12M	186.35M	182.63M	207.54M	196.1M	211.42M	253.29M	225.9M	152.1M	108.7M
Revenue Growth %	5.96%	8.46%	-9.51%	-3.17%	18.28%	22.94%	-7.81%	5.11%	5.54%	2.85%	-0.09%	5.01%	12.77%	10.64%	-40.08%	2.64%	16.51%	-29.85%	-6.86%	-6.54%	2.03%	2.04%	-12%	5.83%	-7.25%	-16.53%	12.13%	48.52%	39.93%	-
Cost of Goods Sold	109.92M	110.11M	104.58M	112.07M	117.76M	98.07M	81.69M	85.28M	79.9M	77.2M	73.7M	75.6M	71.6M	64.47M	58.87M	103.64M	99.27M	92.3M	125.25M	132.46M	143.65M	142.59M	142.81M	172.84M	163.18M	167.88M	174.88M	151.2M	97.5M	67.8M
COGS % of Revenue	-	69.56%	71.66%	69.48%	70.7%	69.64%	71.32%	68.64%	67.6%	68.93%	67.68%	69.36%	68.98%	70.04%	70.76%	74.65%	73.39%	79.5%	75.68%	74.55%	75.56%	76.52%	78.19%	83.28%	83.21%	79.41%	69.04%	66.93%	64.1%	62.37%
Gross Profit	51.91M	48.18M	41.36M	49.22M	48.8M	42.75M	32.85M	38.96M	38.3M	34.8M	35.2M	33.4M	32.2M	27.57M	24.33M	35.2M	35.99M	23.8M	40.25M	45.23M	46.47M	43.76M	39.82M	34.7M	32.92M	43.54M	78.41M	74.7M	54.6M	40.9M
Gross Margin %	32.08%	30.44%	28.34%	30.52%	29.3%	30.36%	28.68%	31.36%	32.4%	31.07%	32.32%	30.64%	31.02%	29.96%	29.24%	25.35%	26.61%	20.5%	24.32%	25.45%	24.44%	23.48%	21.81%	16.72%	16.79%	20.59%	30.96%	33.07%	35.9%	37.63%
Gross Profit Growth %	-	16.48%	-15.96%	0.86%	14.15%	30.14%	-15.69%	1.73%	10.06%	-1.14%	5.39%	3.73%	16.78%	13.35%	-30.89%	-2.2%	51.22%	-40.88%	-11%	-2.68%	6.21%	9.87%	14.77%	5.41%	-24.39%	-44.47%	4.97%	36.81%	33.5%	-
Operating Expenses	25.53M	25.57M	24.34M	23.78M	23.36M	22.22M	21.03M	21.3M	20.5M	19.6M	19.6M	19.4M	18.6M	18.25M	17.75M	16.39M	26.16M	26.7M	24.19M	29.67M	26.17M	24.69M	24.13M	27.29M	26.71M	28.31M	41.11M	34.6M	24.2M	13.8M
OpEx % of Revenue	-	16.16%	16.68%	14.75%	14.03%	15.78%	18.36%	17.14%	17.34%	17.5%	18%	17.8%	17.92%	19.82%	21.33%	11.81%	19.34%	23%	14.61%	16.7%	13.77%	13.25%	13.21%	13.15%	13.62%	13.39%	16.23%	15.32%	15.91%	12.7%
Selling, General & Admin	25.53M	25.57M	24.34M	23.78M	23.36M	22.22M	21.03M	21.3M	20.5M	19.6M	19.6M	19.4M	18.6M	18.25M	17.75M	24.27M	25.79M	22.5M	24.82M	25.85M	26.06M	24.16M	24.13M	27.29M	26.71M	28.31M	28.69M	25.2M	19.7M	11M
SG&A % of Revenue	-	16.16%	16.68%	14.75%	14.03%	15.78%	18.36%	17.14%	17.34%	17.5%	18%	17.8%	17.92%	19.82%	21.33%	17.48%	19.06%	19.38%	15%	14.55%	13.71%	12.96%	13.21%	13.15%	13.62%	13.39%	11.33%	11.16%	12.95%	10.12%
Research & Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0	0	50K	100K	0	0	-7.88M	374K	0	-631K	3.83M	113K	538K	0	0	0	0	12.42M	9.4M	4.5M	2.8M
Operating Income	26.39M	22.6M	17.02M	25.43M	25.44M	20.53M	11.82M	17.67M	17.8M	15.2M	15.6M	14M	13.6M	9.33M	5.42M	15.47M	9.33M	-4M	6.19M	15.56M	20.3M	19.06M	15.69M	4.11M	6.21M	12.49M	37.3M	40.1M	30.4M	27.1M
Operating Margin %	16.3%	14.28%	11.66%	15.77%	15.27%	14.58%	10.32%	14.22%	15.06%	13.57%	14.33%	12.84%	13.1%	10.13%	6.51%	11.14%	6.9%	-3.45%	3.74%	8.75%	10.68%	10.23%	8.59%	1.98%	3.17%	5.91%	14.73%	17.75%	19.99%	24.93%
Operating Income Growth %	-	32.79%	-33.07%	-0%	23.92%	73.7%	-33.11%	-0.75%	17.11%	-2.56%	11.43%	2.94%	45.8%	72.17%	-64.98%	65.82%	333.27%	-164.66%	-60.23%	-23.37%	6.5%	21.48%	281.89%	-33.8%	-50.29%	-66.53%	-6.98%	31.91%	12.18%	-
EBITDA	29.89M	26.26M	20.71M	29.41M	29.41M	24.36M	15.64M	21.35M	21.25M	18.87M	19.3M	17.54M	17.13M	12.6M	11.19M	22.25M	17.01M	4.21M	15.42M	26.57M	32.1M	29.99M	29.89M	18.89M	19.21M	27.25M	49.72M	49.5M	34.9M	29.9M
EBITDA Margin %	18.47%	16.59%	14.19%	18.23%	17.66%	17.3%	13.66%	17.18%	17.98%	16.85%	17.72%	16.09%	16.51%	13.69%	13.45%	16.03%	12.57%	3.63%	9.32%	14.95%	16.88%	16.09%	16.37%	9.1%	9.8%	12.89%	19.63%	21.91%	22.95%	27.51%
EBITDA Growth %	23.9%	26.75%	-29.56%	-0.02%	20.72%	55.75%	-26.73%	0.45%	12.62%	-2.2%	10.05%	2.35%	36%	12.58%	-49.71%	30.83%	304.06%	-72.7%	-41.97%	-17.23%	7.04%	0.31%	58.25%	-1.68%	-29.51%	-45.18%	0.44%	41.83%	16.72%	-
D&A (Non-Cash Add-back)	3.51M	3.65M	3.69M	3.97M	3.98M	3.84M	3.83M	3.68M	3.45M	3.67M	3.7M	3.54M	3.53M	3.27M	5.77M	6.78M	7.68M	8.21M	9.23M	11.01M	11.8M	10.92M	14.2M	14.78M	13M	14.77M	12.42M	9.4M	4.5M	2.8M
EBIT	28.57M	25.83M	21.74M	29.6M	27.31M	21.72M	11.82M	17.67M	17.81M	15.23M	15.57M	13.97M	13.61M	9.33M	5.42M	6.77M	6.22M	-3.99M	6.43M	15.56M	20.3M	19.06M	15.69M	8.78M	6.13M	15.23M	37.3M	40.1M	30.4M	27.1M
Net Interest Income	2.85M	3.23M	4.71M	4.17M	1.88M	1.2M	1.68M	3.27M	2.66M	1.93M	390K	50K	66K	-87K	-479K	-364K	-578K	-1.06M	-2.36M	-760K	-219K	-336K	-494K	-1.3M	-1.89M	-2.86M	-2.3M	0	-1.1M	0
Interest Income	2.85M	3.23M	4.71M	4.17M	1.88M	1.2M	1.68M	3.27M	2.66M	1.93M	390K	50K	66K	40K	0	373K	336K	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	0	0	0	0	0	0	127K	479K	804K	914K	1.1M	2.36M	760K	219K	336K	494K	1.3M	1.89M	2.86M	2.3M	0	1.1M	0
Other Income/Expense	2.85M	3.23M	4.71M	4.17M	1.88M	1.2M	1.68M	3.27M	2.66M	1.93M	390K	50K	66K	-87K	-479K	4.16M	-535K	-1.01M	-2.12M	373K	1.05M	388K	1.63M	375K	-2.19M	396K	-1.86M	-900K	2.3M	600K
Pretax Income	29.23M	25.83M	21.74M	29.6M	27.31M	21.72M	13.5M	20.94M	20.5M	17.2M	16M	14M	13.7M	9.24M	4.94M	15.09M	8.8M	-5.1M	4.06M	15.93M	21.35M	19.45M	17.32M	2.28M	3.41M	12.88M	35.45M	39.2M	32.7M	27.7M
Pretax Margin %	18.07%	16.32%	14.89%	18.35%	16.4%	15.43%	11.78%	16.85%	17.34%	15.36%	14.69%	12.84%	13.2%	10.04%	5.94%	10.87%	6.5%	-4.39%	2.46%	8.96%	11.23%	10.44%	9.49%	1.1%	1.74%	6.09%	13.99%	17.35%	21.5%	25.48%
Income Tax	7.23M	6.36M	5.15M	7.01M	6.44M	5.16M	3.17M	4.94M	5.2M	4M	5.5M	4.9M	5M	3.23M	1.42M	7.42M	5.74M	-3.1M	7.17M	6.95M	9.7M	18.57M	7.84M	1M	2.77M	5.76M	13.39M	14.1M	12M	11M
Effective Tax Rate %	24.72%	24.6%	23.69%	23.68%	23.59%	23.73%	23.52%	23.59%	25.37%	23.26%	34.38%	35%	36.5%	34.91%	28.65%	49.16%	65.3%	60.78%	176.3%	43.62%	45.41%	95.47%	45.26%	44.07%	81.28%	44.7%	37.78%	35.97%	36.7%	39.71%
Net Income	22.01M	19.48M	16.59M	22.59M	20.87M	16.57M	10.32M	16M	15.3M	13.2M	10.5M	9.1M	8.7M	6.01M	34.96M	7.67M	3.05M	-2M	-3.1M	8.98M	11.66M	405K	-3.01M	1.27M	638K	7.12M	22.06M	25.1M	20.7M	16.7M
Net Margin %	13.6%	12.31%	11.37%	14.01%	12.53%	11.77%	9.01%	12.88%	12.94%	11.79%	9.64%	8.35%	8.38%	6.53%	42.02%	5.53%	2.26%	-1.72%	-1.87%	5.05%	6.13%	0.22%	-1.65%	0.61%	0.33%	3.37%	8.71%	11.11%	13.61%	15.36%
Net Income Growth %	18.49%	17.43%	-26.58%	8.25%	25.97%	60.5%	-35.47%	4.56%	15.91%	25.71%	15.38%	4.6%	44.64%	-82.8%	355.64%	151.41%	252.6%	35.5%	-134.53%	-22.96%	2778.02%	113.44%	-336.76%	99.53%	-91.04%	-67.7%	-12.13%	21.26%	23.95%	-
Net Income (Continuing)	22.01M	19.48M	16.59M	22.59M	20.87M	16.57M	10.32M	16M	15.32M	13.2M	10.46M	9.12M	8.66M	6.01M	3.52M	3.5M	3.44M	-1.99M	-3.1M	8.98M	11.66M	882K	9.48M	5.78M	962K	7.12M	22.06M	25.1M	20.7M	16.7M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	100K	0	0
EPS (Diluted)	1.79	1.58	1.35	1.84	1.69	1.33	0.83	1.29	1.23	1.06	0.84	0.73	0.70	0.49	2.82	0.62	0.25	-0.16	-0.25	0.61	0.76	0.03	-0.20	0.08	0.04	0.47	1.37	1.55	1.37	1.67
EPS Growth %	17.88%	17.04%	-26.63%	8.88%	27.07%	60.24%	-35.66%	4.88%	16.04%	26.19%	15.07%	4.29%	42.86%	-82.62%	354.84%	148%	256.25%	36%	-140.98%	-19.74%	2433.33%	115%	-350%	100%	-91.49%	-65.69%	-11.61%	13.14%	-17.96%	-
EPS (Basic)	-	1.58	1.35	1.84	1.69	1.33	0.83	1.29	1.23	1.06	0.84	0.73	0.70	0.49	2.82	0.62	0.25	-0.16	-0.25	0.61	0.76	0.03	-0.20	0.08	0.04	0.47	1.37	1.56	1.37	1.67
Diluted Shares Outstanding	12.33M	12.32M	12.32M	12.31M	12.34M	12.41M	12.45M	12.44M	12.44M	12.4M	12.4M	12.47M	12.4M	12.39M	12.39M	12.38M	12.37M	12.4M	12.39M	14.77M	15.26M	15.23M	15.17M	15.12M	15.12M	15.15M	16.15M	16.15M	15.08M	10M
Basic Shares Outstanding	12.33M	12.32M	12.32M	12.31M	12.34M	12.41M	12.45M	12.44M	12.43M	12.4M	12.4M	12.41M	12.4M	12.39M	12.39M	12.38M	12.37M	12.4M	12.39M	14.76M	15.24M	15.21M	15.15M	15.12M	15.11M	15.14M	16.11M	16.15M	15.05M	10M
Dividend Payout Ratio	-	139.18%	237.64%	54.49%	162.33%	59.93%	48.24%	21.77%	16.25%	18.83%	23.65%	27.26%	28.51%	56.67%	17.72%	80.7%	202.72%	-	-	81.22%	65.4%	466.42%	-	148.39%	1184.17%	106.02%	36.62%	7.97%	8.7%	36.53%

Key Metrics

Growth RegimeAccelerating

ProfitabilityModerate

Balance SheetAdequate

Cash FlowStable

Top Statement Risk

Margin recovery sustainability is unclear

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q2)

Growth Reacceleration After Volatility

CompX's revenue growth has reaccelerated to 8.0% year-over-year in 2026Q2, marking a significant rebound from the negative growth rates seen in 2024, with sequential momentum building from a flat start to 2026.

The company's trajectory shows a clear cyclical recovery. After two consecutive quarters of double-digit year-over-year revenue declines in 2024Q3 and 2024Q4, growth has been positive for five consecutive quarters, accelerating from 0.7% in 2026Q1 to 8.0% in 2026Q2. This pattern suggests the worst of the industry headwinds may have passed, though the durability of this acceleration is not yet established.

Gross Margin Recovery Drives Profitability

Gross margins have expanded significantly to 35.6% in 2026Q2, the highest in the ten-quarter history and a 10-point expansion from the 25.5% low in 2024Q1, indicating successful pricing or cost management actions.

The gross margin expansion appears to be the primary driver of improved profitability, outpacing the revenue growth. This suggests management has been able to implement price increases or reduce input costs more effectively than in the prior cycle. However, the 35.6% level is still below the 44-45% gross margins of peers like Allegion and Fortune Brands, indicating CompX may have a different product mix or less pricing power in its niche of the security services market.

Strong Operating Leverage as Revenue Scales

Operating income has grown 41% year-over-year in 2026Q2, significantly outpacing the 8.0% revenue growth, demonstrating strong operating leverage as fixed overhead costs are spread over a larger revenue base.

The relationship between gross profit and operating income shows excellent scalability. With SG&A expenses remaining relatively flat (around $6.2-6.6M quarterly), every incremental dollar of gross profit flows largely to the bottom line. This results in operating margins expanding from 9.9% in 2024Q3 to 20.5% in 2026Q2, which is a 10.6 percentage point improvement. This operating leverage is a positive sign, but it also means profitability is highly sensitive to any revenue reversals.

Clean Earnings with Minimal Non-Operating Items

Reported net income appears to be of high quality, with zero stock-based compensation expense and operating income comprising the vast majority of earnings, indicating the profit improvement is driven by core operations rather than accounting or non-recurring items.

The consistency between operating income and net income across quarters suggests earnings are driven by fundamental business performance. The absence of stock-based compensation (a $0 SBC line item) is notable for an industrial company and removes a common source of earnings dilution. The small gap between operating and net income likely represents standard taxes and minimal interest expense, reinforcing that the recent margin expansion is operationally driven.

Durability of Margin Expansion Questioned

The impressive margin recovery to 35.6% gross margin in 2026Q2 warrants skepticism, as CompX has historically struggled to sustain margins above 32% and its current level remains significantly below industry peers.

A short-seller would focus on whether this margin expansion is sustainable or a cyclical peak. CompX's gross margin was 31.9% in 2025Q2, suggesting the 35.6% level may be abnormally high and subject to mean reversion. Furthermore, the company's operating margins, while improved at 20.5%, are just reaching the level of peer Allegion's (21.1%), despite having a lower-cost structure (zero R&D). This raises questions about whether CompX can maintain its competitive position and pricing power if broader industrial demand softens again.

CIX — Frequently Asked Questions

Quick answers to the most common questions about buying CIX stock.

What was CompX International Inc.'s (CIX) revenue in 2025?

For fiscal year 2025, CompX International Inc. (CIX) reported total revenue of $158.3M. This represents a 45.6% increase compared to $108.7M in 1997.

Is CompX International Inc. (CIX) profitable?

CompX International Inc. (CIX) is profitable, generating $19.5M in net income for the fiscal year ending 2025 with a net profit margin of 12.3%.

What is CompX International Inc.'s operating profit margin?

CompX International Inc. (CIX) reported an operating income of $22.6M, resulting in an operating profit margin of 14.3%. This margin reflects the operational efficiency of the business before interest and taxes.

What is CompX International Inc.'s gross profit and gross margin?

CompX International Inc. (CIX) generated $48.2M in gross profit for the year, representing a gross profit margin of 30.4%. This demonstrates the company's core pricing power and production efficiency.