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 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | $234.41M | $276.25M | $336.16M | - | $380.76M | $309.82M | $299.06M | - | $372.86M |
| Cost of Revenue | - | $280.95M | $305.25M | $350.11M | - | $378.00M | $334.24M | $329.31M | - | $384.04M |
| Gross Profit | - | ($46.54M) | ($29.01M) | ($13.95M) | - | $2.77M | ($24.42M) | ($30.25M) | - | ($11.18M) |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | $7.04M | $4.55M | $5.92M | - | $4.72M | $9.21M | $6.70M | - | $28.71M |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | - | $5.61M | $7.33M | $6.89M | - | - | - | $8.90M | - | - |
| Operating Income | - | ($80.35M) | ($39.41M) | ($22.79M) | - | ($11.57M) | ($37.02M) | ($38.96M) | - | ($46.91M) |
| Interest Expense | - | $22.48M | $22.43M | $21.38M | - | $24.19M | $22.43M | $21.39M | - | $1.63M |
| Income Tax | - | $1.11M | ($680.0K) | $418.0K | - | $1.24M | $2.41M | $3.29M | - | $8.04M |
| Net Income | - | ($128.16M) | ($68.23M) | ($48.31M) | - | ($40.07M) | ($91.09M) | ($61.47M) | - | ($56.81M) |
| EPS - Basic | - | ($2.63) | ($1.40) | ($1.01) | - | ($0.84) | ($1.92) | ($1.30) | - | ($1.71) |
| EPS - Diluted | - | ($2.63) | ($1.40) | ($1.01) | - | ($0.84) | ($1.92) | ($1.30) | - | ($1.71) |
Balance Sheet
| Line item | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $13.90M | $29.50M | $106.42M | $171.86M | $196.52M | $125.87M | $101.86M | $116.85M | $161.06M | $160.65M |
| Accounts Receivable | $51.46M | $43.73M | $69.05M | $109.90M | $130.65M | $150.19M | $145.91M | $125.87M | $138.03M | $135.66M |
| Inventory | $27.59M | $2.40M | $4.10M | $2.99M | $3.97M | $4.52M | $5.45M | $13.68M | $9.42M | $5.78M |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $155.20M | $183.59M | $348.67M | $423.72M | $445.09M | $467.55M | $422.43M | $444.41M | $503.07M | $562.43M |
| Total Assets | $342.44M | $380.87M | $591.71M | $666.46M | $692.46M | $752.64M | $715.42M | $745.85M | $804.08M | $855.45M |
| Current Liabilities | $639.90M | $584.24M | $981.01M | $480.68M | $473.97M | $493.06M | $421.76M | $373.77M | $386.42M | $385.46M |
| Long-term Debt | - | - | - | - | $705.22M | - | - | - | $606.14M | $192.12M |
| Total Liabilities | $1.02B | $963.70M | $1.08B | $1.09B | $1.07B | $1.07B | $989.68M | $929.92M | $926.38M | $646.61M |
| Stockholders' Equity | ($679.47M) | ($582.83M) | ($485.44M) | ($420.69M) | ($373.24M) | ($322.00M) | ($274.26M) | ($184.07M) | ($122.30M) | ($147.84M) |
| Retained Earnings | ($1.12B) | ($1.02B) | ($893.60M) | ($825.37M) | ($777.05M) | ($728.97M) | ($688.90M) | ($597.82M) | ($536.35M) | ($478.75M) |
Cash Flow
| Line item | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | - | $4.63M | - | - | - | ($39.00M) | - | - |
| Investing Cash Flow | - | - | - | ($6.51M) | - | - | - | ($8.29M) | - | - |
| Financing Cash Flow | - | - | - | ($21.73M) | - | - | - | $3.88M | - | - |
| CapEx | - | - | - | $6.51M | - | - | - | $8.29M | - | - |
| Free Cash Flow | - | - | - | ($1.89M) | - | - | - | ($47.29M) | - | - |
Ratios
| Metric | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | -19.9% | -10.5% | -4.2% | - | 0.7% | -7.9% | -10.1% | - | -3.0% |
| Operating margin | - | -34.3% | -14.3% | -6.8% | - | -3.0% | -11.9% | -13.0% | - | -12.6% |
| EBITDA margin | - | -31.9% | -11.6% | -4.7% | - | - | - | -10.1% | - | - |
| Net margin | - | -54.7% | -24.7% | -14.4% | - | -10.5% | -29.4% | -20.6% | - | -15.2% |
| Free cash flow margin | - | - | - | -0.6% | - | - | - | -15.8% | - | - |
| FCF / Net income | - | - | - | 0.04 | - | - | - | 0.77 | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | 3.0% | 1.6% | 1.8% | - | 1.2% | 3.0% | 2.2% | - | 7.7% |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | - | -33.6% | -11.5% | -7.2% | - | -5.3% | -12.7% | -8.2% | - | -6.6% |
| Return on equity | - | 22.0% | 14.1% | 11.5% | - | 12.4% | 33.2% | 33.4% | - | 38.4% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | -83.7% |
| Liquidity | ||||||||||
| Current ratio | 0.24 | 0.31 | 0.36 | 0.88 | 0.94 | 0.95 | 1.00 | 1.19 | 1.30 | 1.46 |
| Quick ratio | 0.20 | 0.31 | 0.35 | 0.88 | 0.93 | 0.94 | 0.99 | 1.15 | 1.28 | 1.44 |
| Cash ratio | 0.02 | 0.05 | 0.11 | 0.36 | 0.41 | 0.26 | 0.24 | 0.31 | 0.42 | 0.42 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | -1.89 | - | - | - | -4.96 | -1.30 |
| Debt / Assets | - | - | - | - | 1.02 | - | - | - | 0.75 | 0.22 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | -3.6x | -1.8x | -1.1x | - | -0.5x | -1.7x | -1.8x | - | -28.8x |
| Equity multiplier | -0.50 | -0.65 | -1.22 | -1.58 | -1.86 | -2.34 | -2.61 | -4.05 | -6.57 | -5.79 |
| Liabilities / Assets | 2.98 | 2.53 | 1.82 | 1.63 | 1.54 | 1.43 | 1.38 | 1.25 | 1.15 | 0.76 |
| Efficiency | ||||||||||
| Asset turnover | - | 0.62 | 0.47 | 0.50 | - | 0.51 | 0.43 | 0.40 | - | 0.44 |
| Inventory turnover | - | 117.31 | 74.47 | 117.05 | - | 83.66 | 61.28 | 24.07 | - | 66.45 |
| Days sales outstanding | - | 68d | 91d | 119d | - | 144d | 172d | 154d | - | 133d |
| Days inventory outstanding | - | 3d | 5d | 3d | - | 4d | 6d | 15d | - | 5d |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | -38.4% | -10.8% | 12.4% | - | 2.1% | -18.7% | -26.0% | - | -18.8% |
| Revenue CAGR (3y) | - | -20.1% | -15.2% | -4.4% | - | -7.4% | -12.3% | -9.6% | - | -7.7% |
| Revenue CAGR (5y) | - | -13.1% | -5.9% | -1.2% | - | -0.2% | -1.3% | -0.0% | - | 8.0% |
| Gross profit growth (YoY) | - | - | -18.8% | 53.9% | - | - | 48.4% | - | - | - |
| Operating income growth (YoY) | - | -594.3% | -6.5% | 41.5% | - | 75.3% | 40.5% | -387.2% | - | -1550.6% |
| Net income growth (YoY) | - | -219.9% | 25.1% | 21.4% | - | 29.5% | -39.6% | -177.8% | - | -3772.9% |
| EPS growth (YoY) | - | -213.1% | 27.1% | 22.3% | - | 50.9% | -1.1% | -47.7% | - | -338.5% |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | 96.0% | - | - | - | 45.7% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -82.0% | -81.0% | -77.0% | -128.6% | -205.2% | -117.8% | -246.8% | -5623.5% | - | - |
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%
Peer comparison
Same SIC group: Engines & Turbines
Comparing TPI COMPOSITES against the 5 most active filers in the same SIC group.