TPIC · Tpi Composites, Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Price · TPIC
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $918.46M | $1.33B | $1.46B | $1.52B | $1.73B | $1.67B |
| Cost of Revenue | $1.03B | $1.38B | $1.54B | $1.51B | $1.76B | $1.61B |
| Gross Profit | ($110.60M) | ($53.00M) | ($87.55M) | $14.64M | ($31.58M) | $64.10M |
| R&D | - | - | - | - | - | - |
| SG&A | $28.43M | $27.54M | $49.13M | $32.35M | $29.25M | $33.50M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $26.47M | $30.48M | $38.87M | $45.48M | $52.59M | $49.67M |
| Operating Income | ($179.37M) | ($108.72M) | ($163.59M) | ($27.81M) | ($97.70M) | $18.77M |
| Interest Expense | $88.99M | $92.42M | $12.11M | $5.03M | $13.62M | $10.50M |
| Income Tax | $3.73M | $12.55M | $17.56M | $29.61M | $26.76M | $11.28M |
| Net Income | ($340.80M) | ($240.71M) | ($201.78M) | ($65.31M) | ($159.55M) | ($19.03M) |
| EPS - Basic | ($7.02) | ($5.07) | ($4.16) | ($2.96) | ($4.43) | ($0.54) |
| EPS - Diluted | ($7.02) | ($5.07) | ($4.16) | ($2.96) | ($4.43) | ($0.54) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $13.90M | $196.52M | $161.06M | $133.55M | $242.16M | $129.86M |
| Accounts Receivable | $51.46M | $130.65M | $138.03M | $184.81M | $157.80M | $132.77M |
| Inventory | $27.59M | $3.97M | $9.42M | $10.66M | $11.53M | $10.84M |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | $155.20M | $445.09M | $503.07M | $645.16M | $660.27M | $548.16M |
| Total Assets | $342.44M | $692.46M | $804.08M | $962.18M | $1.01B | $956.26M |
| Current Liabilities | $639.90M | $473.97M | $386.42M | $456.58M | $469.11M | $406.11M |
| Long-term Debt | - | $705.22M | $606.14M | $61.17M | $74.65M | $217.92M |
| Total Liabilities | $1.02B | $1.07B | $926.38M | $601.81M | $634.77M | $755.22M |
| Stockholders' Equity | ($679.47M) | ($373.24M) | ($122.30M) | $50.49M | $121.95M | $201.03M |
| Retained Earnings | ($1.12B) | ($777.05M) | ($536.35M) | ($334.57M) | ($269.26M) | ($109.72M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($126.41M) | $12.50M | ($80.97M) | ($62.27M) | ($25.52M) | $37.57M |
| Investing Cash Flow | ($15.85M) | ($26.20M) | ($23.30M) | ($18.83M) | ($37.12M) | ($65.67M) |
| Financing Cash Flow | ($44.45M) | $50.96M | $121.99M | ($14.60M) | $198.92M | $88.61M |
| CapEx | $14.53M | $26.20M | $36.14M | $18.83M | $37.12M | $65.67M |
| Free Cash Flow | ($140.94M) | ($13.70M) | ($117.11M) | ($81.10M) | ($62.64M) | ($28.10M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | -12.0% | -4.0% | -6.0% | 1.0% | -1.8% | 3.8% |
| Operating margin | -19.5% | -8.2% | -11.2% | -1.8% | -5.6% | 1.1% |
| EBITDA margin | -16.6% | -5.9% | -8.6% | 1.2% | -2.6% | 4.1% |
| Net margin | -37.1% | -18.1% | -13.9% | -4.3% | -9.2% | -1.1% |
| Free cash flow margin | -15.3% | -1.0% | -8.0% | -5.3% | -3.6% | -1.7% |
| FCF / Net income | 0.41 | 0.06 | 0.58 | 1.24 | 0.39 | 1.48 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 3.1% | 2.1% | 3.4% | 2.1% | 1.7% | 2.0% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -99.5% | -34.8% | -25.1% | -6.8% | -15.8% | -2.0% |
| Return on equity | 50.2% | 64.5% | 165.0% | -129.4% | -130.8% | -9.5% |
| Return on invested capital | - | -25.9% | -26.7% | -19.7% | -39.3% | 3.5% |
| Liquidity | ||||||
| Current ratio | 0.24 | 0.94 | 1.30 | 1.41 | 1.41 | 1.35 |
| Quick ratio | 0.20 | 0.93 | 1.28 | 1.39 | 1.38 | 1.32 |
| Cash ratio | 0.02 | 0.41 | 0.42 | 0.29 | 0.52 | 0.32 |
| Leverage | ||||||
| Debt / Equity | - | -1.89 | -4.96 | 1.21 | 0.61 | 1.08 |
| Debt / Assets | - | 1.02 | 0.75 | 0.06 | 0.07 | 0.23 |
| Debt / EBITDA | - | - | - | 3.46 | - | 3.18 |
| Interest coverage | -2.0x | -1.2x | -13.5x | -5.5x | -7.2x | 1.8x |
| Equity multiplier | -0.50 | -1.86 | -6.57 | 19.06 | 8.26 | 4.76 |
| Liabilities / Assets | 2.98 | 1.54 | 1.15 | 0.63 | 0.63 | 0.79 |
| Efficiency | ||||||
| Asset turnover | 2.68 | 1.92 | 1.81 | 1.58 | 1.72 | 1.75 |
| Inventory turnover | 37.30 | 348.82 | 163.77 | 141.46 | 152.97 | 148.17 |
| Days sales outstanding | 20d | 36d | 35d | 44d | 33d | 29d |
| Days inventory outstanding | 10d | 1d | 2d | 3d | 2d | 2d |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -31.0% | -8.5% | -4.4% | -12.1% | 3.7% | 16.3% |
| Revenue CAGR (3y) | -15.5% | -8.4% | -4.5% | 2.0% | 31.1% | 21.5% |
| Revenue CAGR (5y) | -11.3% | -1.5% | 13.6% | 10.4% | 18.1% | - |
| Gross profit growth (YoY) | -108.7% | 39.5% | - | - | - | -17.7% |
| Operating income growth (YoY) | -65.0% | 33.5% | -488.3% | 71.5% | - | 18.1% |
| Net income growth (YoY) | -41.6% | -19.3% | -209.0% | 59.1% | -738.5% | -21.1% |
| EPS growth (YoY) | -38.5% | -21.9% | -40.5% | 33.2% | -720.4% | -20.0% |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -928.6% | 88.3% | -44.4% | -29.5% | -123.0% | -62.2% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -82.0% | -205.2% | - | -58.6% | -39.3% | -2.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$918.46M totalMexico Segment$716.82M · 78.0%
India Segment$129.17M · 14.1%
United States Segment$65.78M · 7.2%
Other Segment$6.69M · 0.7%
Product / service
$65.78M totalField Services Inspection And Repair Services$37.56M · 57.1%
Wind Blades$28.22M · 42.9%
Geographic
$1.06B totalMX$716.82M · 67.9%
TR$137.24M · 13.0%
IN$129.17M · 12.2%
US$65.78M · 6.2%
Other$6.69M · 0.6%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-3.01
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
2/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Engines & Turbines
Comparing TPI COMPOSITES against the 5 most active filers in the same SIC group.