Revenue has faced a persistent decline, falling to $426.9M in 2026Q1, while the company continues to struggle with structural profitability, evidenced by a negative net margin of -7.2%.
| 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 |
|---|
| Sales/Revenue | 1.85B | 1.87B | 1.79B | 1.69B | 1.76B | 1.72B | 1.45B | 1.26B | 1.36B | 1B | 978.31M | 727.98M | 636.67M | 740.71M | 884.72M | 606.64M | 504.66M | 1.25B | 1.54B | 841.79M | 395.17M | 0 |
| Revenue Growth % | -8.21% | 4.79% | 5.8% | -3.81% | 1.93% | 19.06% | 14.59% | -6.93% | 35.36% | 2.5% | 34.39% | 14.34% | -14.05% | -16.28% | 45.84% | 20.21% | -59.59% | -18.83% | 82.76% | 113.02% | - | - |
| Cost of Goods Sold | 1.04B | 1.15B | 1.04B | 1.02B | 1.11B | 1.06B | 913.84M | 806.37M | 887.48M | 641.39M | 651.74M | 487.24M | 431.66M | 504.55M | 605.87M | 427.5M | 366.3M | 976.99M | 1.2B | 636.01M | 307.01M | 0 |
| COGS % of Revenue | - | 61.5% | 58.03% | 60.07% | 63.03% | 61.61% | 63.13% | 63.83% | 65.38% | 63.96% | 66.62% | 66.93% | 67.8% | 68.12% | 68.48% | 70.47% | 72.58% | 78.24% | 77.75% | 75.55% | 77.69% | - |
| Gross Profit | 807.72M | 721.24M | 750.42M | 674.72M | 649.43M | 661.58M | 533.8M | 456.93M | 469.84M | 361.39M | 326.57M | 240.74M | 205.02M | 236.16M | 278.85M | 179.14M | 138.36M | 271.75M | 342.27M | 205.78M | 88.16M | 0 |
| Gross Margin % | 43.74% | 38.5% | 41.97% | 39.93% | 36.97% | 38.39% | 36.87% | 36.17% | 34.62% | 36.04% | 33.38% | 33.07% | 32.2% | 31.88% | 31.52% | 29.53% | 27.42% | 21.76% | 22.25% | 24.45% | 22.31% | - |
| Gross Profit Growth % | - | -3.89% | 11.22% | 3.89% | -1.84% | 23.94% | 16.82% | -2.75% | 30.01% | 10.66% | 35.65% | 17.42% | -13.19% | -15.31% | 55.66% | 29.47% | -49.08% | -20.6% | 66.32% | 133.42% | - | - |
| Operating Expenses | 781.48M | 678.61M | 765.29M | 744.13M | 604.99M | 538.5M | 455.8M | 430.94M | 413.21M | 336.89M | 307.51M | 190.82M | 173.13M | 131.35M | 225.04M | 187.94M | 184.53M | 316.41M | 314.4M | 180.83M | 98.38M | 1K |
| OpEx % of Revenue | - | 36.22% | 42.8% | 44.03% | 34.44% | 31.24% | 31.49% | 34.11% | 30.44% | 33.6% | 31.43% | 26.21% | 27.19% | 17.73% | 25.44% | 30.98% | 36.57% | 25.34% | 20.44% | 21.48% | 24.89% | - |
| Selling, General & Admin | 642.31M | 660.67M | 587.52M | 502.01M | 441.63M | 418.38M | 359.61M | 308.4M | 320.08M | 261.52M | 217.83M | 136.4M | 128.19M | 125.69M | 161.14M | 110.03M | 81.58M | 232M | 289.79M | 168.15M | 92.56M | 1K |
| SG&A % of Revenue | - | 35.26% | 32.86% | 29.71% | 25.14% | 24.27% | 24.84% | 24.41% | 23.58% | 26.08% | 22.27% | 18.74% | 20.13% | 16.97% | 18.21% | 18.14% | 16.17% | 18.58% | 18.84% | 19.98% | 23.42% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.46M | 1.81M | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.17% | 0.46% | - |
| Other Operating Expenses | 2M | 17.94M | 177.77M | 242.12M | 163.36M | 120.12M | 96.18M | 122.54M | 93.13M | 75.37M | 89.68M | 54.42M | 44.94M | 5.66M | 63.9M | 77.91M | 102.95M | 84.41M | 24.61M | 11.22M | 4.01M | 0 |
| Operating Income | 26.24M | 42.63M | -14.87M | -69.41M | 44.44M | 123.08M | 78.01M | 25.99M | 56.63M | 24.5M | 19.06M | 49.92M | 31.89M | 104.81M | 53.82M | -8.79M | -46.17M | -44.66M | 27.87M | 24.95M | -10.22M | -1K |
| Operating Margin % | 1.42% | 2.28% | -0.83% | -4.11% | 2.53% | 7.14% | 5.39% | 2.06% | 4.17% | 2.44% | 1.95% | 6.86% | 5.01% | 14.15% | 6.08% | -1.45% | -9.15% | -3.58% | 1.81% | 2.96% | -2.59% | - |
| Operating Income Growth % | - | 386.69% | 78.58% | -256.17% | -63.89% | 57.79% | 200.14% | -54.1% | 131.13% | 28.54% | -61.82% | 56.52% | -69.57% | 94.76% | 711.97% | 80.95% | -3.39% | -260.24% | 11.69% | 344.16% | -1021800% | - |
| EBITDA | 163.8M | 181.09M | 101.84M | 14.16M | 156.57M | 232.21M | 173.24M | 109.31M | 147.33M | 106.56M | 104.67M | 102.99M | 71.64M | 137.93M | 103.27M | 40.31M | -4.05M | -11.66M | 62.89M | 50.28M | 71K | 41.89M |
| EBITDA Margin % | 8.87% | 9.67% | 5.7% | 0.84% | 8.91% | 13.47% | 11.97% | 8.65% | 10.85% | 10.63% | 10.7% | 14.15% | 11.25% | 18.62% | 11.67% | 6.65% | -0.8% | -0.93% | 4.09% | 5.97% | 0.02% | - |
| EBITDA Growth % | -66.32% | 77.81% | 618.99% | -90.95% | -32.57% | 34.05% | 58.47% | -25.8% | 38.26% | 1.81% | 1.62% | 43.76% | -48.06% | 33.57% | 156.15% | 1094.7% | 65.25% | -118.54% | 25.07% | 70719.72% | -99.83% | - |
| D&A (Non-Cash Add-back) | 137.56M | 138.47M | 116.71M | 83.57M | 112.13M | 109.13M | 95.23M | 83.32M | 90.7M | 82.06M | 85.61M | 53.08M | 39.75M | 33.12M | 49.45M | 49.11M | 42.12M | 33M | 35.02M | 25.33M | 10.29M | 0 |
| EBIT | -107.21M | -122.31M | -186.2M | -156.61M | -30.54M | 84M | 72.03M | -5.33M | 47.52M | 15.35M | 83.88M | 49.92M | 302.18M | 100.78M | 51.82M | -13.3M | -48.11M | -49.19M | 28.17M | 24.95M | -10.22M | 31.45M |
| Net Interest Income | -168.89M | -175.27M | -126.82M | -113.93M | -87.13M | -61.82M | -48.22M | -58.04M | -61.4M | -32.27M | -25.88M | -22.47M | -21.59M | -21.37M | -24.47M | -12.48M | -13.31M | -12.33M | -18.42M | -5.77M | -5.32M | -8.13M |
| Interest Income | 553K | 0 | 2.04M | 1.95M | 49K | 13K | 253K | 1.89M | 75K | 0 | 0 | 0 | 0 | 39K | 54K | 33K | 20K | 1.18M | 1.38M | 2.54M | 807K | 233K |
| Interest Expense | 169.44M | 175.27M | 128.87M | 115.88M | 87.18M | 61.83M | 48.48M | 59.93M | 61.48M | 32.27M | 25.88M | 22.47M | 21.59M | 21.41M | 24.52M | 12.52M | 13.33M | 13.51M | 19.8M | 8.31M | 6.13M | 8.36M |
| Other Income/Expense | -300.37M | -340.2M | -294.34M | -197.04M | -158.38M | -96.42M | -50.84M | -86.09M | -65.04M | -34.13M | 44.16M | -25.93M | 243.23M | -23.41M | -27M | -17.15M | -11.63M | -16.27M | -17.53M | -5.73M | -13.82M | 23.09M |
| Pretax Income | -274.13M | -297.58M | -309.21M | -266.45M | -113.94M | 26.66M | 27.17M | -60.1M | -8.41M | -9.63M | 63.22M | 23.99M | 275.12M | 81.4M | 26.82M | -25.94M | -57.8M | -60.93M | 10.34M | 19.22M | -24.04M | 23.09M |
| Pretax Margin % | -14.84% | -15.88% | -17.29% | -15.77% | -6.49% | 1.55% | 1.88% | -4.76% | -0.62% | -0.96% | 6.46% | 3.3% | 43.21% | 10.99% | 3.03% | -4.28% | -11.45% | -4.88% | 0.67% | 2.28% | -6.08% | - |
| Income Tax | 3.58M | 945K | 18.61M | 8.2M | 29.49M | 15.27M | 13.61M | 9.91M | 10.47M | -23.74M | 9.47M | 15M | 5.05M | 18.52M | 21.07M | 6.86M | 8.52M | -21.28M | 6.53M | 9.17M | 3.94M | 1K |
| Effective Tax Rate % | -1.31% | -0.32% | -6.02% | -3.08% | -25.89% | 57.26% | 50.07% | -16.5% | -124.43% | 246.51% | 14.98% | 62.53% | 1.83% | 22.75% | 78.55% | -26.44% | -14.74% | 34.93% | 63.1% | 47.7% | -16.37% | 0% |
| Net Income | -227.18M | -229.32M | -208.86M | 108.65M | -59.22M | 114.55M | 22.78M | 301.87M | -5.7M | 27.99M | 54.69M | 161.84M | 278.83M | 68.06M | -3.94M | 64.96M | -48.76M | -26.27M | 78.29M | 40.37M | -19.25M | -1K |
| Net Margin % | -12.3% | -12.24% | -11.68% | 6.43% | -3.37% | 6.65% | 1.57% | 23.89% | -0.42% | 2.79% | 5.59% | 22.23% | 43.8% | 9.19% | -0.45% | 10.71% | -9.66% | -2.1% | 5.09% | 4.8% | -4.87% | - |
| Net Income Growth % | -228.96% | -9.8% | -292.24% | 283.45% | -151.7% | 402.86% | -92.45% | 5394.02% | -120.37% | -48.81% | -66.21% | -41.96% | 309.67% | 1826.64% | -106.07% | 233.23% | -85.6% | -133.55% | 93.95% | 309.71% | -1924800% | - |
| Net Income (Continuing) | -277.71M | -298.52M | -327.82M | -274.65M | -143.43M | 11.4M | 13.57M | -70.01M | -18.88M | 14.11M | 53.75M | 8.99M | 270.08M | 62.88M | 5.75M | -32.8M | -66.32M | -39.65M | 3.82M | 10.05M | -27.97M | 12.04M |
| Discontinued Operations | 1.21M | 0 | 5.05M | 307.23M | 35.22M | 115.41M | 13.63M | 377.15M | 17.09M | 19.5M | 2.78M | 156.78M | 21.08M | 15.93M | -1.41M | 105.61M | 21.55M | 0 | 77.97M | 41.31M | 9.83M | 133K |
| Minority Interest | 128.4M | 131.64M | -148.05M | -73.23M | 51.36M | 172.71M | 120.12M | 50.55M | 59.97M | 52.79M | 38.14M | 47.13M | 40.9M | 95.55M | 41.58M | 98.97M | 87.84M | 70.91M | 79.43M | 21.87M | 27.13M | 100K |
| EPS (Diluted) | -3.02 | -3.05 | 0.23 | 2.46 | -0.19 | -0.38 | -0.34 | -0.68 | -0.10 | -0.44 | 0.51 | 2.61 | 5.38 | 1.05 | -0.08 | 1.37 | -1.19 | -0.76 | 2.48 | 1.46 | -1.52 | -1.00 |
| EPS Growth % | -248.87% | -1426.09% | -90.65% | 1394.74% | 50% | -11.76% | 50% | -614.29% | 78.36% | -186.27% | -80.46% | -51.49% | 412.38% | 1386.76% | -105.96% | 215.13% | -56.58% | -130.65% | 69.86% | 196.05% | -52% | - |
| EPS (Basic) | - | -3.05 | 0.23 | 2.46 | -0.19 | -0.38 | -0.34 | -0.68 | -0.10 | -0.44 | 0.51 | 2.61 | 5.38 | 1.05 | -0.08 | 1.37 | -1.19 | -0.76 | 2.48 | 1.46 | -1.52 | -1.00 |
| Diluted Shares Outstanding | 75.24M | 75.24M | 75.45M | 72.11M | 70.72M | 65.36M | 63.15M | 59.9M | 59.9M | 59.9M | 54.59M | 54.3M | 49.09M | 48.3M | 48.3M | 48.3M | 40.93M | 34.4M | 31.52M | 27.63M | 12.69M | 19.5M |
| Basic Shares Outstanding | 75.24M | 75.24M | 75.45M | 72.11M | 63.12M | 65.36M | 63.15M | 59.9M | 59.9M | 59.9M | 54.59M | 54.3M | 49.09M | 48.3M | 48.3M | 48.3M | 40.93M | 34.4M | 31.52M | 27.63M | 12.69M | 19.5M |
| Dividend Payout Ratio | - | - | - | 66.24% | - | 131.77% | 394.45% | 28.57% | - | 308.16% | 142.99% | 48.32% | 24.94% | 102.19% | - | 103.01% | - | - | 52.95% | 113.85% | - | - |
High Debt Service Burden
According to the most recent quarterly data, CODI's revenue has contracted to $426.9M, marking a persistent downward trend from the $582.6M peak observed in 2024Q3, suggesting that the company's diversified portfolio is struggling to maintain organic growth momentum amidst a challenging macroeconomic environment for its consumer segments.
The consistent revenue deceleration over the last several quarters indicates that the company's reliance on discretionary consumer spending may be reaching a saturation point. Investors should monitor whether this trend reflects a structural decline in brand equity or merely cyclical sensitivity to broader economic cooling.
As reported in financial statements, CODI's net margin has remained consistently negative, reaching -7.2% in 2026Q1, which highlights a fundamental disconnect between gross profit generation and the company's ability to translate that value into bottom-line profitability after accounting for corporate overhead and interest expenses.
While gross margins have held relatively steady in the 40-44% range, the inability to achieve positive net income suggests that the cost structure is currently misaligned with revenue scale. This persistent negative profitability warrants further investigation into whether the company's acquisition strategy is effectively pricing in the cost of capital.
Based on the provided income statement data, CODI's operating income has shown extreme volatility, swinging from a high of $400.3M in 2024Q4 to $18.6M in 2026Q1, illustrating that the company's operating leverage is heavily burdened by the fixed costs associated with its significant debt load.
The wide variance in operating income suggests that the company lacks the operational flexibility to absorb revenue fluctuations without significant impact on its bottom line. This sensitivity implies that any further contraction in top-line performance could disproportionately impair the company's ability to service its existing debt obligations.
Analysis of the income statement reveals that CODI's net income is frequently distorted by non-operating items, as evidenced by the sharp contrast between the $137.4M net income in 2023Q4 and the subsequent losses, suggesting that headline figures may not accurately reflect the underlying cash-generating capacity of the business.
Short-sellers would likely focus on the reliance on non-recurring gains to mask operational weakness, as the company's GAAP earnings appear disconnected from its core industrial and consumer performance. Investors should be cautious of interpreting these volatile net income figures as a reliable indicator of long-term value creation.
Quick answers to the most common questions about buying CODI stock.
For fiscal year 2025, Compass Diversified (CODI) reported total revenue of $1.87B.
Compass Diversified (CODI) reported a net loss of $229.3M for the fiscal year ending 2025.
Compass Diversified (CODI) reported an operating income of $42.6M, resulting in an operating profit margin of 2.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Compass Diversified (CODI) generated $721.2M in gross profit for the year, representing a gross profit margin of 38.5%. This demonstrates the company's core pricing power and production efficiency.