Compass Diversified Holdings
CODI—
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Compass Diversified Holdings AI Insights
Informational only. Not investment advice.Snapshot
- Tangible book value is -1.7B with goodwill/intangibles at 1.8B (56% of assets) - equity value depends entirely on subsidiary valuations holding.[Tangible Book Value]
- Debt/equity of 15x with 1.9B current debt vs 74M cash - refinancing risk acute if credit markets tighten.[Debt to Equity]
- FCF TTM is -107M despite 420M EBITDA - working capital drain of -1.5B signals structural cash conversion problem.[Free Cash Flow TTM]
Watch Triggers
- Current Debt: Any refinancing announcement or maturity extension — 1.9B current debt is the binary event - successful refi vs distress determines equity outcome
- Free Cash Flow TTM: Turn positive for 2 consecutive quarters — Negative FCF prevents organic deleveraging; positive FCF would signal turnaround
- Goodwill: Any impairment charge >50M — 31.5M impairment already taken; larger charge would signal subsidiary deterioration
Bull Case
Operating margin of 10.6% with gross margin 45% shows underlying subsidiaries generate real profits - EBITDA of 420M provides debt service capacity if working capital normalizes.
Operating Margin TTMEBITDA TTMGross Margin TTM
5Y revenue CAGR of 7.5% above industry median 5.7% demonstrates portfolio can grow organically through cycles.
Total Revenue 5yr GrowthTotal Revenue TTM
Bear Case
Negative FCF (-107M) with 1.9B current debt and only 74M cash creates existential refinancing risk - any credit market disruption could force dilutive equity raise or asset fire sales.
Free Cash Flow TTMCurrent DebtCash and Equivalents
Goodwill of 895M is 722% of common equity (124M) - even modest impairment would eliminate shareholder equity entirely.
GoodwillCommon Stockholders EquityAsset Impairment Charge
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
30%
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Forward Thesis
Debt refinancing outcome in next 12 months will determine equity survival or dilution.
3-12mhigh
- 1.9B current debt maturing soon
- Negative FCF limits deleveraging options
- Interest expense of 121M consuming 79% of net income
Current debt 1.9B vs cash 74MFCF -107M TTMInterest expense 121M vs net income 61M
Valuation Context
Caveats
Public Strategies Rankings
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CODI Fundamentals
Management of Companies and Enterprises → Management of Companies and Enterprises
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$723.02M | — | ||
$2.53B | — | ||
0.00 | — | ||
$1.87B | +4.8% | — | |
$-3.59 | — | ||
2.28% | +2.6% | — | |
-12.1% | -0.4% | — | |
$-51.15M | — | ||
0% | — | ||
Beta 5Y (Monthly) | unknown | — |
CODI Dividend History
77 dividends
2025
$0.500004/17/25$0.2500
01/16/25$0.2500
2024
$1.000010/17/24$0.2500
07/18/24$0.2500
04/17/24$0.2500
01/17/24$0.2500
2023
$1.000010/18/23$0.2500
07/19/23$0.2500
04/19/23$0.2500
01/18/23$0.2500
2022
$1.000010/19/22$0.2500
07/20/22$0.2500
04/20/22$0.2500
01/12/22$0.2500
2021
$2.320010/14/21$0.3600
08/30/21$0.8800
07/14/21$0.3600
04/14/21$0.3600
01/14/21$0.3600
2020
$1.440010/14/20$0.3600
07/15/20$0.3600
04/15/20$0.3600
01/15/20$0.3600
2019
$1.440010/16/19$0.3600
07/17/19$0.3600
04/17/19$0.3600
01/16/19$0.3600
2018
$1.440010/17/18$0.3600
07/18/18$0.3600
04/18/18$0.3600
01/17/18$0.3600
2017
$1.440010/18/17$0.3600
07/18/17$0.3600
04/18/17$0.3600
01/17/17$0.3600
2016
$1.440010/18/16$0.3600
07/19/16$0.3600
04/19/16$0.3600
01/19/16$0.3600
2015
$1.440010/20/15$0.3600
07/20/15$0.3600
04/20/15$0.3600
01/20/15$0.3600
2014
$1.440010/21/14$0.3600
07/21/14$0.3600
04/21/14$0.3600
01/21/14$0.3600
2013
$1.440010/21/13$0.3600
07/19/13$0.3600
04/19/13$0.3600
01/23/13$0.3600
2012
$1.440010/22/12$0.3600
07/20/12$0.3600
04/20/12$0.3600
01/19/12$0.3600
2011
$1.420010/21/11$0.3600
07/19/11$0.3600
03/25/11$0.3600
01/19/11$0.3400
2010
$1.360010/20/10$0.3400
07/21/10$0.3400
04/21/10$0.3400
01/20/10$0.3400
2009
$1.360010/21/09$0.3400
07/22/09$0.3400
04/21/09$0.3400
01/21/09$0.3400
2008
$1.315010/22/08$0.3400
07/22/08$0.3250
04/18/08$0.3250
01/23/08$0.3250
2007
$1.225010/19/07$0.3250
07/23/07$0.3000
04/18/07$0.3000
01/16/07$0.3000
2006
$0.395210/11/06$0.2625
07/07/06$0.1327
CODI Stock Splits
No stock splits
CODI SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/27/26 | 12/31/25 | 10-K | |
01/14/26 | 09/30/25 | 10-Q | |
12/29/25 | 06/30/25 | 10-Q | |
12/18/25 | 03/31/25 | 10-Q | |
12/08/25 | 12/31/24 | 10-K/A | |
02/27/25 | 12/31/24 | 10-K | |
10/30/24 | 09/30/24 | 10-Q | |
07/31/24 | 06/30/24 | 10-Q | |
05/01/24 | 03/31/24 | 10-Q | |
02/28/24 | 12/31/23 | 10-K | |
12/08/25 | 12/31/23 | 10-K/A | |
11/02/23 | 09/30/23 | 10-Q | |
08/02/23 | 06/30/23 | 10-Q | |
05/03/23 | 03/31/23 | 10-Q | |
03/01/23 | 12/31/22 | 10-K | |
12/08/25 | 12/31/22 | 10-K/A | |
11/03/22 | 09/30/22 | 10-Q | |
08/03/22 | 06/30/22 | 10-Q | |
05/05/22 | 03/31/22 | 10-Q | |
02/24/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
07/29/21 | 06/30/21 | 10-Q | |
04/29/21 | 03/31/21 | 10-Q | |
02/24/21 | 12/31/20 | 10-K | |
10/28/20 | 09/30/20 | 10-Q | |
07/29/20 | 06/30/20 | 10-Q | |
04/30/20 | 03/31/20 | 10-Q | |
02/26/20 | 12/31/19 | 10-K | |
10/30/19 | 09/30/19 | 10-Q | |
07/31/19 | 06/30/19 | 10-Q | |
05/01/19 | 03/31/19 | 10-Q | |
02/27/19 | 12/31/18 | 10-K | |
10/31/18 | 09/30/18 | 10-Q | |
08/01/18 | 06/30/18 | 10-Q | |
05/02/18 | 03/31/18 | 10-Q | |
02/28/18 | 12/31/17 | 10-K | |
11/08/17 | 09/30/17 | 10-Q | |
08/02/17 | 06/30/17 | 10-Q | |
05/03/17 | 03/31/17 | 10-Q | |
03/02/17 | 12/31/16 | 10-K | |
11/02/16 | 09/30/16 | 10-Q | |
08/03/16 | 06/30/16 | 10-Q | |
05/04/16 | 03/31/16 | 10-Q | |
02/29/16 | 12/31/15 | 10-K | |
11/04/15 | 09/30/15 | 10-Q | |
08/05/15 | 06/30/15 | 10-Q | |
05/06/15 | 03/31/15 | 10-Q | |
03/02/15 | 12/31/14 | 10-K | |
11/05/14 | 09/30/14 | 10-Q | |
08/06/14 | 06/30/14 | 10-Q | |
05/07/14 | 03/31/14 | 10-Q | |
03/11/14 | 12/31/13 | 10-K | |
11/06/13 | 09/30/13 | 10-Q | |
08/08/13 | 06/30/13 | 10-Q | |
05/07/13 | 03/31/13 | 10-Q | |
03/06/13 | 12/31/12 | 10-K | |
11/07/12 | 09/30/12 | 10-Q | |
08/07/12 | 06/30/12 | 10-Q | |
05/09/12 | 03/31/12 | 10-Q | |
03/07/12 | 12/31/11 | 10-K | |
11/08/11 | 09/30/11 | 10-Q | |
08/09/11 | 06/30/11 | 10-Q | |
05/09/11 | 03/31/11 | 10-Q | |
03/10/11 | 12/31/10 | 10-K | |
11/08/10 | 09/30/10 | 10-Q | |
08/09/10 | 06/30/10 | 10-Q | |
05/10/10 | 03/31/10 | 10-Q | |
03/09/10 | 12/31/09 | 10-K | |
11/09/09 | 09/30/09 | 10-Q | |
08/10/09 | 06/30/09 | 10-Q | |
05/08/09 | 03/31/09 | 10-Q | |
03/13/09 | 12/31/08 | 10-K/A | |
11/10/08 | 09/30/08 | 10-Q | |
08/11/08 | 06/30/08 | 4 | |
05/12/08 | 03/30/08 | Unknown | -- |
03/14/08 | 12/31/07 | Unknown | -- |
11/09/07 | 09/30/07 | 10-Q | |
08/10/07 | 06/30/07 | Unknown | -- |
05/14/07 | 03/30/07 | Unknown | -- |
03/13/07 | 12/31/06 | Unknown | -- |
11/09/06 | 09/30/06 | 10-Q | |
08/10/06 | 06/30/06 | 10-Q | |
06/12/06 | 03/30/06 | Unknown | -- |