Owens Corning Financials
This page shows Owens Corning (OC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Owens Corning has an operating margin of 10.3%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 51/100, indicating healthy but not exceptional operating efficiency. This is down from 18.7% the prior year.
Owens Corning's revenue grew 13.4% year-over-year to $11.0B, a solid pace of expansion. This earns a growth score of 67/100.
Owens Corning carries a low D/E ratio of 1.00, meaning only $1.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 74/100, indicating a strong balance sheet with room for future borrowing.
Owens Corning's current ratio of 1.47 indicates adequate short-term liquidity, earning a score of 39/100. The company can meet its near-term obligations, though with limited headroom.
Owens Corning has a free cash flow margin of 11.3%, earning a moderate score of 57/100. The company generates positive cash flow after capital investments, but with room for improvement.
Owens Corning's ROE of 12.7% shows moderate profitability relative to equity, earning a score of 51/100. This is down from 23.2% the prior year.
Owens Corning scores 2.40, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Owens Corning passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Owens Corning generates $2.92 in operating cash flow ($1.9B OCF vs $647.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Owens Corning earns $5.3 in operating income for every $1 of interest expense ($1.1B vs $212.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Owens Corning generated $11.0B in revenue in fiscal year 2024. This represents an increase of 13.4% from the prior year.
Owens Corning's EBITDA was $1.8B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.5% from the prior year.
Owens Corning generated $1.2B in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 4.4% from the prior year.
Owens Corning reported $647.0M in net income in fiscal year 2024. This represents a decrease of 45.9% from the prior year.
Owens Corning earned $7.37 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 43.9% from the prior year.
Owens Corning held $321.0M in cash against $5.1B in long-term debt as of fiscal year 2024.
Owens Corning paid $2.49 per share in dividends in fiscal year 2024. This represents an increase of 15.3% from the prior year.
Owens Corning had 85M shares outstanding in fiscal year 2024. This represents a decrease of 1.8% from the prior year.
Owens Corning's gross margin was 29.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.
Owens Corning's operating margin was 10.3% in fiscal year 2024, reflecting core business profitability. This is down 8.5 percentage points from the prior year.
Owens Corning's net profit margin was 5.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 6.5 percentage points from the prior year.
Owens Corning's ROE was 12.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 10.4 percentage points from the prior year.
Owens Corning invested $144.0M in research and development in fiscal year 2024. This represents an increase of 17.1% from the prior year.
Owens Corning spent $491.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 25.3% from the prior year.
Owens Corning invested $647.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 23.0% from the prior year.
OC Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.7B-2.3% | $2.7B+8.6% | $2.5B-31.6% | $3.7B+48.1% | $2.5B+23.8% | $2.0B-12.5% | $2.3B-7.1% | $2.5B |
| Cost of Revenue | $1.9B+2.0% | $1.9B+4.7% | $1.8B-34.0% | $2.7B+62.5% | $1.7B+21.2% | $1.4B-17.8% | $1.7B-3.6% | $1.8B |
| Gross Profit | $757.0M-11.8% | $858.0M+18.3% | $725.0M-24.6% | $962.0M+18.3% | $813.0M+29.5% | $628.0M+2.1% | $615.0M-15.4% | $727.0M |
| R&D Expenses | $39.0M+5.4% | $37.0M+5.7% | $35.0M-34.0% | $53.0M+65.6% | $32.0M+18.5% | $27.0M-28.9% | $38.0M+31.0% | $29.0M |
| SG&A Expenses | $240.0M-8.7% | $263.0M+0.8% | $261.0M+1.2% | $258.0M+12.7% | $229.0M+20.5% | $190.0M | N/A | $201.0M |
| Operating Income | -$327.0M-164.8% | $505.0M+24.1% | $407.0M+392.8% | -$139.0M-133.3% | $418.0M+11.2% | $376.0M+14.3% | $329.0M-28.8% | $462.0M |
| Interest Expense | -$65.0M-3.2% | -$63.0M+1.6% | -$64.0M-117.8% | $360.0M+671.4% | -$63.0M-293.8% | -$16.0M-214.3% | $14.0M-17.6% | $17.0M |
| Income Tax | $102.0M-7.3% | $110.0M+25.0% | $88.0M+425.9% | -$27.0M-126.7% | $101.0M+21.7% | $83.0M+107.5% | $40.0M-63.6% | $110.0M |
| Net Income | -$494.0M-236.1% | $363.0M+490.3% | -$93.0M+64.0% | -$258.0M-190.5% | $285.0M-4.7% | $299.0M+128.2% | $131.0M-61.1% | $337.0M |
| EPS (Diluted) | $-5.92-239.3% | $4.25+493.5% | $-1.08+63.0% | $-2.92-190.1% | $3.24-4.7% | $3.40+129.7% | $1.48-60.1% | $3.71 |
OC Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.5B-6.7% | $14.5B+1.5% | $14.3B+1.4% | $14.1B-6.1% | $15.0B+33.0% | $11.3B+0.3% | $11.2B+1.5% | $11.1B |
| Current Assets | $3.7B-4.8% | $3.9B-0.2% | $3.9B+16.2% | $3.4B-9.2% | $3.7B-6.6% | $4.0B+1.6% | $3.9B-0.8% | $3.9B |
| Cash & Equivalents | $286.0M+24.3% | $230.0M-42.5% | $400.0M+24.6% | $321.0M+26.4% | $254.0M-79.7% | $1.3B-22.4% | $1.6B+22.1% | $1.3B |
| Inventory | $1.4B-2.5% | $1.5B+3.7% | $1.4B+6.0% | $1.3B-15.8% | $1.6B+30.8% | $1.2B+0.6% | $1.2B-2.8% | $1.2B |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $2.0B-27.9% | $2.8B+1.9% | $2.8B+0.6% | $2.7B+2.3% | $2.7B+93.7% | $1.4B-0.5% | $1.4B+1.0% | $1.4B |
| Total Liabilities | $9.1B-2.2% | $9.3B-0.7% | $9.3B+4.3% | $9.0B-5.4% | $9.5B+57.8% | $6.0B-0.5% | $6.0B+1.8% | $5.9B |
| Current Liabilities | $2.7B+3.7% | $2.6B-5.4% | $2.7B+18.4% | $2.3B-15.6% | $2.7B+20.0% | $2.3B-2.4% | $2.3B+27.3% | $1.8B |
| Long-Term Debt | $4.7B-7.9% | $5.1B+0.7% | $5.0B-0.4% | $5.1B+0.9% | $5.0B+89.8% | $2.6B+1.1% | $2.6B-12.9% | $3.0B |
| Total Equity | $4.4B-14.8% | $5.2B+5.8% | $4.9B-3.8% | $5.1B-7.2% | $5.5B+4.6% | $5.2B+1.2% | $5.2B+1.2% | $5.1B |
| Retained Earnings | $4.8B-10.3% | $5.4B+6.0% | $5.1B-2.9% | $5.2B-0.9% | $5.3B+4.6% | $5.0B+5.2% | $4.8B+1.6% | $4.7B |
OC Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $918.0M+180.7% | $327.0M+767.3% | -$49.0M-107.2% | $676.0M+37.1% | $493.0M+1954.2% | $24.0M-96.6% | $698.0M+1.0% | $691.0M |
| Capital Expenditures | $166.0M-16.2% | $198.0M-2.5% | $203.0M+3.0% | $197.0M+25.5% | $157.0M+3.3% | $152.0M+11.8% | $136.0M+23.6% | $110.0M |
| Free Cash Flow | $752.0M+482.9% | $129.0M+151.2% | -$252.0M-152.6% | $479.0M+42.6% | $336.0M+362.5% | -$128.0M-122.8% | $562.0M-3.3% | $581.0M |
| Investing Cash Flow | -$166.0M+11.7% | -$188.0M-18.2% | -$159.0M+20.5% | -$200.0M+93.4% | -$3.0B-1960.3% | -$146.0M-6.6% | -$137.0M-17.1% | -$117.0M |
| Financing Cash Flow | -$671.0M-78.5% | -$376.0M-242.4% | $264.0M+146.6% | -$567.0M-136.5% | $1.6B+764.5% | -$234.0M+19.9% | -$292.0M-46.0% | -$200.0M |
| Dividends Paid | $58.0M-1.7% | $59.0M0.0% | $59.0M+13.5% | $52.0M0.0% | $52.0M0.0% | $52.0M+13.0% | $46.0M-2.1% | $47.0M |
| Share Buybacks | $220.0M-3.1% | $227.0M+66.9% | $136.0M+32.0% | $103.0M+329.2% | $24.0M-85.1% | $161.0M-32.4% | $238.0M+65.3% | $144.0M |
OC Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.2%-3.0pp | 31.2%+2.6pp | 28.7%+2.7pp | 26.0%-6.6pp | 32.6%+1.4pp | 31.1%+4.4pp | 26.7%-2.6pp | 29.3% |
| Operating Margin | -12.2%-30.6pp | 18.4%+2.3pp | 16.1%+19.8pp | -3.8%-20.5pp | 16.7%-1.9pp | 18.6%+4.4pp | 14.3%-4.4pp | 18.6% |
| Net Margin | -18.4%-31.6pp | 13.2%+16.9pp | -3.7%+3.3pp | -7.0%-18.4pp | 11.4%-3.4pp | 14.8%+9.1pp | 5.7%-7.9pp | 13.6% |
| Return on Equity | N/A | 7.0% | N/A | 5.7%+0.5pp | 5.2%-0.5pp | 5.7%+3.2pp | 2.5%-4.1pp | 6.6% |
| Return on Assets | -3.6%-6.2pp | 2.5%+3.2pp | -0.7%+1.2pp | -1.8%-3.7pp | 1.9%-0.8pp | 2.6%+1.5pp | 1.2%-1.9pp | 3.0% |
| Current Ratio | 1.40-0.1 | 1.52+0.1 | 1.44-0.0 | 1.47+0.1 | 1.37-0.4 | 1.76+0.1 | 1.69-0.5 | 2.16 |
| Debt-to-Equity | 1.06+0.1 | 0.98-0.0 | 1.03+0.0 | 1.00+0.1 | 0.92+0.4 | 0.510.0 | 0.51-0.1 | 0.59 |
| FCF Margin | 28.0%+23.3pp | 4.7%+14.7pp | -10.0%-22.9pp | 13.0%-0.5pp | 13.5%+19.8pp | -6.3%-30.7pp | 24.4%+1.0pp | 23.4% |
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Frequently Asked Questions
What is Owens Corning's annual revenue?
Owens Corning (OC) reported $11.0B in total revenue for fiscal year 2024. This represents a 13.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Owens Corning's revenue growing?
Owens Corning (OC) revenue grew by 13.4% year-over-year, from $9.7B to $11.0B in fiscal year 2024.
Is Owens Corning profitable?
Yes, Owens Corning (OC) reported a net income of $647.0M in fiscal year 2024, with a net profit margin of 5.9%.
What is Owens Corning's earnings per share (EPS)?
Owens Corning (OC) reported diluted earnings per share of $7.37 for fiscal year 2024. This represents a -43.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Owens Corning's EBITDA?
Owens Corning (OC) had EBITDA of $1.8B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Owens Corning have?
As of fiscal year 2024, Owens Corning (OC) had $321.0M in cash and equivalents against $5.1B in long-term debt.
What is Owens Corning's gross margin?
Owens Corning (OC) had a gross margin of 29.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Owens Corning's operating margin?
Owens Corning (OC) had an operating margin of 10.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Owens Corning's net profit margin?
Owens Corning (OC) had a net profit margin of 5.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Owens Corning pay dividends?
Yes, Owens Corning (OC) paid $2.49 per share in dividends during fiscal year 2024.
What is Owens Corning's return on equity (ROE)?
Owens Corning (OC) has a return on equity of 12.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Owens Corning's free cash flow?
Owens Corning (OC) generated $1.2B in free cash flow during fiscal year 2024. This represents a 4.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Owens Corning's operating cash flow?
Owens Corning (OC) generated $1.9B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Owens Corning's total assets?
Owens Corning (OC) had $14.1B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Owens Corning's capital expenditures?
Owens Corning (OC) invested $647.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Owens Corning spend on research and development?
Owens Corning (OC) invested $144.0M in research and development during fiscal year 2024.
Does Owens Corning buy back shares?
Yes, Owens Corning (OC) spent $491.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Owens Corning have outstanding?
Owens Corning (OC) had 85M shares outstanding as of fiscal year 2024.
What is Owens Corning's current ratio?
Owens Corning (OC) had a current ratio of 1.47 as of fiscal year 2024, which is considered adequate.
What is Owens Corning's debt-to-equity ratio?
Owens Corning (OC) had a debt-to-equity ratio of 1.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Owens Corning's return on assets (ROA)?
Owens Corning (OC) had a return on assets of 4.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Owens Corning's Altman Z-Score?
Owens Corning (OC) has an Altman Z-Score of 2.40, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Owens Corning's Piotroski F-Score?
Owens Corning (OC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Owens Corning's earnings high quality?
Owens Corning (OC) has an earnings quality ratio of 2.92x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Owens Corning cover its interest payments?
Owens Corning (OC) has an interest coverage ratio of 5.3x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Owens Corning?
Owens Corning (OC) scores 56 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.