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Side-by-side financial comparison of H2O AMERICA (HTO) and TREX CO INC (TREX). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $161.1M, roughly 1.2× TREX CO INC). H2O AMERICA runs the higher net margin — 8.1% vs 1.4%, a 6.7% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -3.9%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -34.3%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.
HTO vs TREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $161.1M |
| Net Profit | $16.2M | $2.3M |
| Gross Margin | — | 30.2% |
| Operating Margin | 16.6% | 2.2% |
| Net Margin | 8.1% | 1.4% |
| Revenue YoY | 1.5% | -3.9% |
| Net Profit YoY | -29.2% | -76.4% |
| EPS (diluted) | $0.45 | $0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $199.4M | $161.1M | ||
| Q3 25 | $243.5M | $285.3M | ||
| Q2 25 | $197.8M | $387.8M | ||
| Q1 25 | $164.9M | $340.0M | ||
| Q4 24 | $196.5M | $167.6M | ||
| Q3 24 | $216.7M | $233.7M | ||
| Q2 24 | $173.1M | $376.5M | ||
| Q1 24 | $150.0M | $373.6M |
| Q4 25 | $16.2M | $2.3M | ||
| Q3 25 | $45.1M | $51.8M | ||
| Q2 25 | $24.7M | $75.9M | ||
| Q1 25 | $16.6M | $60.4M | ||
| Q4 24 | $22.9M | $9.8M | ||
| Q3 24 | $38.7M | $40.6M | ||
| Q2 24 | $20.7M | $87.0M | ||
| Q1 24 | $11.7M | $89.1M |
| Q4 25 | — | 30.2% | ||
| Q3 25 | — | 40.5% | ||
| Q2 25 | — | 40.8% | ||
| Q1 25 | — | 40.5% | ||
| Q4 24 | — | 32.7% | ||
| Q3 24 | — | 39.9% | ||
| Q2 24 | — | 44.7% | ||
| Q1 24 | — | 45.4% |
| Q4 25 | 16.6% | 2.2% | ||
| Q3 25 | 26.5% | 24.7% | ||
| Q2 25 | 22.2% | 26.4% | ||
| Q1 25 | 21.8% | 24.0% | ||
| Q4 24 | 22.2% | 9.2% | ||
| Q3 24 | 26.9% | 23.2% | ||
| Q2 24 | 23.4% | 31.1% | ||
| Q1 24 | 18.6% | 31.9% |
| Q4 25 | 8.1% | 1.4% | ||
| Q3 25 | 18.5% | 18.1% | ||
| Q2 25 | 12.5% | 19.6% | ||
| Q1 25 | 10.0% | 17.8% | ||
| Q4 24 | 11.7% | 5.8% | ||
| Q3 24 | 17.8% | 17.4% | ||
| Q2 24 | 12.0% | 23.1% | ||
| Q1 24 | 7.8% | 23.8% |
| Q4 25 | $0.45 | $0.03 | ||
| Q3 25 | $1.27 | $0.48 | ||
| Q2 25 | $0.71 | $0.71 | ||
| Q1 25 | $0.49 | $0.56 | ||
| Q4 24 | $0.70 | $0.10 | ||
| Q3 24 | $1.17 | $0.37 | ||
| Q2 24 | $0.64 | $0.80 | ||
| Q1 24 | $0.36 | $0.82 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | $3.8M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $1.0B |
| Total Assets | $5.1B | $1.5B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $3.8M | ||
| Q3 25 | $11.3M | $11.4M | ||
| Q2 25 | $19.8M | $5.5M | ||
| Q1 25 | $23.7M | $5.0M | ||
| Q4 24 | $11.1M | $1.3M | ||
| Q3 24 | $4.0M | $12.8M | ||
| Q2 24 | $22.8M | $1.2M | ||
| Q1 24 | $4.5M | $3.1M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $1.5B | $1.0B | ||
| Q2 25 | $1.5B | $989.3M | ||
| Q1 25 | $1.4B | $910.1M | ||
| Q4 24 | $1.4B | $850.1M | ||
| Q3 24 | $1.3B | $887.9M | ||
| Q2 24 | $1.3B | $894.9M | ||
| Q1 24 | $1.2B | $804.1M |
| Q4 25 | $5.1B | $1.5B | ||
| Q3 25 | $5.0B | $1.5B | ||
| Q2 25 | $4.8B | $1.5B | ||
| Q1 25 | $4.7B | $1.6B | ||
| Q4 24 | $4.7B | $1.3B | ||
| Q3 24 | $4.6B | $1.3B | ||
| Q2 24 | $4.4B | $1.3B | ||
| Q1 24 | $4.4B | $1.3B |
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $63.5M | $65.5M |
| Free Cash FlowOCF − Capex | — | $22.1M |
| FCF MarginFCF / Revenue | — | 13.7% |
| Capex IntensityCapex / Revenue | — | 26.9% |
| Cash ConversionOCF / Net Profit | 3.92× | 28.45× |
| TTM Free Cash FlowTrailing 4 quarters | — | $134.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $65.5M | ||
| Q3 25 | $77.3M | $196.9M | ||
| Q2 25 | $60.8M | $249.8M | ||
| Q1 25 | $43.2M | $-154.0M | ||
| Q4 24 | $41.5M | $-8.5M | ||
| Q3 24 | $53.5M | $132.8M | ||
| Q2 24 | $49.3M | $193.7M | ||
| Q1 24 | $51.2M | $-174.0M |
| Q4 25 | — | $22.1M | ||
| Q3 25 | — | $142.9M | ||
| Q2 25 | — | $203.0M | ||
| Q1 25 | — | $-233.5M | ||
| Q4 24 | — | $-89.3M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | — | $158.2M | ||
| Q1 24 | — | $-211.8M |
| Q4 25 | — | 13.7% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 52.3% | ||
| Q1 25 | — | -68.7% | ||
| Q4 24 | — | -53.3% | ||
| Q3 24 | — | 23.3% | ||
| Q2 24 | — | 42.0% | ||
| Q1 24 | — | -56.7% |
| Q4 25 | — | 26.9% | ||
| Q3 25 | — | 18.9% | ||
| Q2 25 | — | 12.1% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 9.4% | ||
| Q1 24 | — | 10.1% |
| Q4 25 | 3.92× | 28.45× | ||
| Q3 25 | 1.71× | 3.80× | ||
| Q2 25 | 2.47× | 3.29× | ||
| Q1 25 | 2.61× | -2.55× | ||
| Q4 24 | 1.81× | -0.87× | ||
| Q3 24 | 1.39× | 3.27× | ||
| Q2 24 | 2.38× | 2.23× | ||
| Q1 24 | 4.38× | -1.95× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
TREX
Segment breakdown not available.
