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CODI-PC

Compass Diversified

CODI-PC

Compass Diversified • NYSE
$18.25 ▲ 1.11% (+0.20)
Market Cap $1.37 B
52w High $25.18
52w Low $12.44
Dividend Yield 1.97%
P/E 21.2
Volume 6.82K
Outstanding Shares 28.47M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $548.725M ▼ $166.256M ▼ $11.921M ▼ 2.172% ▼ $-0.13 ▼ $90.528M ▼
Q3-2024 $582.623M ▲ $204.31M ▲ $22.064M ▲ 3.787% ▲ $0.078 ▲ $106.737M ▲
Q2-2024 $542.595M ▲ $197.771M ▼ $-19.529M ▼ -3.599% ▼ $-0.45 ▲ $73.353M ▼
Q1-2024 $524.29M ▲ $203.251M ▲ $-1.648M ▼ -0.314% ▼ $-0.89 ▼ $74.73M ▲
Q4-2023 $473.13M $121.459M $137.437M 29.048% $1.85 $20.007M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $59.727M ▼ $4.052B ▲ $2.489B ▲ $1.297B ▲
Q3-2024 $71.948M ▲ $3.961B ▲ $2.46B ▲ $1.237B ▲
Q2-2024 $68.37M ▲ $3.858B ▼ $2.389B ▲ $1.217B ▼
Q1-2024 $64.715M ▼ $3.865B ▲ $2.371B ▲ $1.251B ▼
Q4-2023 $450.477M $3.817B $2.298B $1.327B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $0 ▼ $9.974M ▲ $-70.2M ▼ $49.732M ▲ $-12.22M ▼ $-12.22M ▲
Q3-2024 $31.461M ▲ $-29.227M ▲ $-16.177M ▼ $47.516M ▲ $3.578M ▼ $-44.815M ▲
Q2-2024 $-13.723M ▼ $-35.182M ▼ $46.062M ▲ $-7.196M ▼ $3.655M ▲ $-46.354M ▼
Q1-2024 $2.436M ▲ $-13.201M ▼ $-382.478M ▼ $10.905M ▲ $-385.763M ▼ $-20.948M ▼
Q4-2023 $-59.596M $21.128M $466.212M $-102.236M $385.74M $9M

Revenue by Products

Product Q1-2024Q2-2024Q3-2024Q4-2024
511 Tactical
511 Tactical
 $120.00M ▲$120.00M ▲$140.00M ▲$140.00M ▲
Altor
Altor
 $50.00M ▲$50.00M ▲$50.00M ▲$80.00M ▲
Arnold
Arnold
 $40.00M ▲$40.00M ▲$50.00M ▲$40.00M ▼
BOA
BOA
 $40.00M ▲$50.00M ▲$50.00M ▲$50.00M ▲
Lugano
Lugano
 $100.00M ▲$100.00M ▲$120.00M ▲$150.00M ▲
Primaloft
Primaloft
 $20.00M ▲$30.00M ▲$10.00M ▼$10.00M ▲
Sterno Products
Sterno Products
 $60.00M ▲$70.00M ▲$90.00M ▲$90.00M ▲
The Honey Pot
The Honey Pot
 $520.00M ▲$1.08Bn ▲$1.66Bn ▲$0 ▼
Velocity Outdoor
Velocity Outdoor
 $30.00M ▲$20.00M ▼$30.00M ▲$20.00M ▼
Ergo
Ergo
 $20.00M ▲$30.00M ▲$20.00M ▼$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past five years, and margins have generally improved, which suggests the portfolio companies are scaling reasonably well. Operating profits are consistently positive and have inched higher, but they are still relatively modest compared with the size of the business. Net income, however, is quite volatile, with one standout year followed by a sharp drop, pointing to the impact of one‑time gains, accounting adjustments, or deal activity. In simple terms: the top line and underlying operations look more stable than the bottom line, which can swing meaningfully from year to year.

Balance Sheet

Balance Sheet The balance sheet shows a business that has grown in size with rising total assets and a solid equity base, but it also relies heavily on debt. Leverage is meaningful, though not extreme for a diversified holding company, and equity has slowly built over time, which is a positive sign. The main concern is the very small cash balance in the latest year relative to debt, which leaves less of a cushion for shocks and increases reliance on ongoing cash generation, refinancings, or asset activity.

Cash Flow

Cash Flow Cash generation has been uneven. In some years the company produced healthy cash from operations and positive free cash flow, but in other years—including the most recent—it consumed cash rather than generated it. Capital spending is fairly steady and not excessive, so the swing mostly reflects how working capital and underlying earnings translate into cash. Overall, the picture is of a company that can produce solid cash in good years but does not yet show a consistently reliable cash flow profile, which matters for servicing debt and preferred distributions.

Competitive Edge

Competitive Edge Compass Diversified’s main strength is its structure and strategy rather than a single product. It owns a collection of niche, often category‑leading businesses with strong brands, patents, or specialized capabilities. The permanent capital model and hands‑on support for management teams give it more flexibility and a longer time horizon than a typical private equity fund. Diversification across several different industries helps smooth out results when one area is weak. The flip side is complexity: performance depends on many moving parts, acquisitions, and exits, and it can be harder for outsiders to judge the quality of each underlying business.

Innovation and R&D

Innovation and R&D Innovation is a clear emphasis across the portfolio. Several subsidiaries hold substantial patent portfolios, run dedicated labs, or partner with universities and performance institutes. There is a strong tilt toward high‑performance materials, fit and comfort technologies, data‑driven sports equipment, sustainable packaging, and eco‑friendly textiles. Many brands are pushing into new product categories and adjacent markets, often with a sustainability or performance angle. This creates attractive long‑term growth optionality, but it also means ongoing spending on product development and marketing is essential to maintain their edge.

Summary

Compass Diversified combines a growing, diversified portfolio with an innovation‑heavy strategy, but its financial profile shows trade‑offs. Revenue and operating results have generally trended upward, yet net income and cash flows are bumpy, partly reflecting the deal‑driven nature of the model. The balance sheet carries meaningful debt and relatively little cash, which raises the importance of improving and stabilizing cash generation over time. On the positive side, the company’s permanent capital structure, focus on niche leaders, and strong innovation culture across subsidiaries provide a solid strategic foundation. The key things to watch are the consistency of cash flow, the management of leverage, and how effectively Compass continues to nurture and grow its underlying brands.