TPI COMPOSITES, INC (TPICQ)
As-reported financials and SEC filings for TPI COMPOSITES, INC. The latest annual period is FY2025. The latest reported quarter is Q4 FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.
About TPI COMPOSITES, INC
TPI Composites, Inc. manufactures composite wind blades for the wind energy market through its facilities in the U.S., Mexico, and India. The company serves wind turbine original equipment manufacturers by producing wind blade sets under supply agreements and also provides field inspection and repair services for installed wind blades at wind farms. Its operations focus on advanced composite technology to deliver wind blades that meet performance and reliability requirements.
Snapshot
Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
What changed at Tpi Composites
- Revenue grew 3.2% to $918M in FY2025, in line with the 3.0% the year before.
- Operating margin is -19.5% in FY2025, -13.3 pp against -6.2% in FY2021.
- Most recent quarter Q4 FY2025: revenue $206M, down 9.0% from Q4 FY2024.
- Free cash flow was negative $141M in FY2025.
- Net loss widened to $341M in FY2025, from $241M in FY2024.
Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.
Peer comparison
Where Tpi Composites’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).
Tpi Composites’s gross margin of -12.0% ranks in the 1st percentile of the 466 Industrials companies reporting it. Tpi Composites’s net margin of -37.1% ranks in the 5th percentile of the 645 Industrials companies reporting it. Tpi Composites’s FCF margin of -15.3% ranks in the 8th percentile of the 562 Industrials companies reporting it.
No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →
Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.
Short interest
Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 2026-06-30 | 1.6M | +0.0% | 15.93 |
| 2026-06-15 | 1.6M | -4.2% | 7.91 |
| 2026-05-29 | 1.7M | +3.9% | 1.91 |
| 2026-05-15 | 1.6M | -0.4% | 8.50 |
| 2026-04-30 | 1.6M | -3.6% | 4.00 |
| 2026-04-15 | 1.7M | -1.6% | 3.84 |
| 2026-03-31 | 1.7M | -3.5% | 3.97 |
| 2026-03-13 | 1.7M | -8.8% | 3.40 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.
Income statement (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $918.5M | $890.0M | $863.9M | $918.5M | $1.47B |
| Gross profit | $-110.6M | $-72.2M | $-110.7M | $-504.7M | $-37.6M |
| Operating income | $-179.4M | $-134.8M | $-173.2M | $13.4M | $-91.8M |
| Net income | $-340.8M | $-240.7M | $-201.8M | $-65.3M | $-159.5M |
| Diluted EPS | $-7.02 | $-5.07 | $-4.16 | $-2.96 | $-4.43 |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Balance sheet (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | $13.9M | $143.3M | $119.9M | $130.6M | $216.2M |
| Current assets | $155.2M | $429.1M | $503.1M | $645.2M | $660.3M |
| Total assets | $342.4M | $692.5M | $804.1M | $962.2M | $1.01B |
| Current liabilities | $639.9M | $474.0M | $386.4M | $456.6M | $469.1M |
| Long-term debt | $0 | $485.2M | $414.7M | $1.2M | $8.2M |
| Total liabilities | $1.02B | $1.07B | $926.4M | $601.8M | $634.8M |
| Total equity | $-679.5M | $-373.2M | $-122.3M | $50.5M | $122.0M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Cash flow (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating cash flow | $-126.4M | $12.5M | $-81.0M | $-62.3M | $-25.5M |
| Capital expenditure | $14.5M | $26.2M | $36.1M | $18.8M | $37.1M |
| Free cash flow | $-140.9M | $-13.7M | $-117.1M | $-81.1M | $-62.6M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Quarterly trend (as reported)
| Quarter | Revenue | Revenue YoY | Net income | Diluted EPS |
|---|---|---|---|---|
| Q4 FY2025 | $206.3M | -9.0% | — | $-1.97 |
| Q3 FY2025 | $234.4M | -9.6% | $-128.2M | $-2.63 |
| Q2 FY2025 | $276.2M | -10.8% | $-68.2M | $-1.40 |
| Q1 FY2025 | $336.2M | 14.3% | $-48.3M | $-1.01 |
| Q4 FY2024 | $226.6M | — | — | $-1.01 |
| Q3 FY2024 | $259.2M | -30.0% | $-40.1M | $-0.84 |
| Q2 FY2024 | $309.8M | -17.2% | $-91.1M | $-1.92 |
| Q1 FY2024 | $294.0M | -27.2% | $-61.5M | $-1.30 |
Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.
Company facts
Selected SEC filings
Largest Industrials peers
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.