Louisiana-Pacific vs Trex
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KIRA’s take AI analyst
I put Louisiana-Pacific and Trex side by side, using each one’s latest annual report. Here is what stands out:
- Louisiana-Pacific is the larger business, with $2.7B of revenue in fiscal 2025 against $1.2B for Trex, about 2.3 times as much.
- Trex grew revenue faster (2.0%, against −7.9%).
- Trex kept more of each dollar of sales as operating profit (22.0% operating margin, against 7.7%).
- Trex turned more of its sales into free cash flow (11.5% FCF margin, against 3.4%).
- Investors pay more for each dollar of Louisiana-Pacific’s earnings: a P/E of 94.6x against 29.8x for Trex.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Louisiana-Pacific
LPX
1/8
Share count change
Trex
TREX
7/8
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | LPX FY25 | TREX FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.2B | $5.2B |
| Revenue | $2.7B | $1.2B |
| Free cash flow | $91.0M | $135M |
| Net income | $146M | $190M |
| Growth | ||
| Revenue growth | −7.9% | 2.0% |
| 5-year growth | 2.5% | 5.9% |
| Share count change | −1.4% | −1.1% |
| Profitability | ||
| Gross margin | 21.8% | 39.2% |
| Operating margin | 7.7% | 22.0% |
| Net margin | 5.4% | 16.2% |
| FCF margin | 3.4% | 11.5% |
| Return on capital | 9.0% | — |
| Return on equity | 8.6% | 19.8% |
| Balance sheet | ||
| Net debt | $56.0M | — |
| Net debt / EBITDA | 0.2x | — |
| Dividends and buybacks | $139M | $54.5M |
| Valuation & quality | ||
| P/E | 94.6x | 29.8x |
| Piotroski F-score | 5 | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.