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 18 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).
Cash generation stayed resilient, but below-gross-profit costs and a tighter balance sheet drove FY2025’s reported earnings break.
The net loss in FY2025 looks less like a cash collapse than an accounting squeeze:$1.8B of operating cash flow still produced$962M of free cash flow even after heavier capital spending. That gap, plus a steep drop in goodwill from$2.7B to$1.7B , suggests reported earnings were hit by charges that did not drain cash in the same way.
What worsened was not factory economics alone: gross margin stayed relatively high at
The balance-sheet cushion is thinner than it was in FY2023: cash fell to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Owens Corning's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Owens Corning has an operating margin of 3.6%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 45/100, indicating healthy but not exceptional operating efficiency. This is down from 15.0% the prior year.
Owens Corning's revenue grew a modest 2.6% year-over-year to $10.1B. This slow but positive growth earns a score of 50/100.
Owens Corning carries a low D/E ratio of 1.22, meaning only $1.22 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 77/100, indicating a strong balance sheet with room for future borrowing.
Owens Corning's current ratio of 1.26 is below the typical benchmark, resulting in a score of 20/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Owens Corning has a free cash flow margin of 9.5%, earning a moderate score of 54/100. The company generates positive cash flow after capital investments, but with room for improvement.
Owens Corning generates a -13.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 15/100. This is down from 12.7% the prior year.
Owens Corning scores 2.06, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Owens Corning passes 4 of 9 financial strength tests. 2 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 $-3.42 in operating cash flow ($1.8B OCF vs -$522.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Owens Corning earns $1.4 in operating income for every $1 of interest expense ($360.0M vs $256.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Owens Corning generated $10.1B in revenue in fiscal year 2025. This represents an increase of 2.6% from the prior year.
Owens Corning's EBITDA was $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 51.2% from the prior year.
Owens Corning reported -$522.0M in net income in fiscal year 2025. This represents a decrease of 180.7% from the prior year.
Owens Corning earned $-6.22 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 184.4% from the prior year.
Cash & Balance Sheet
Owens Corning generated $962.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 22.7% from the prior year.
Owens Corning held $345.0M in cash against $4.7B in long-term debt as of fiscal year 2025.
Owens Corning paid $2.86 per share in dividends in fiscal year 2025. This represents an increase of 14.9% from the prior year.
Owens Corning had 80M shares outstanding in fiscal year 2025. This represents a decrease of 6.1% from the prior year.
Margins & Returns
Owens Corning's gross margin was 28.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.8 percentage points from the prior year.
Owens Corning's operating margin was 3.6% in fiscal year 2025, reflecting core business profitability. This is down 11.5 percentage points from the prior year.
Owens Corning's net profit margin was -5.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 11.7 percentage points from the prior year.
Owens Corning's ROE was -13.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 26.3 percentage points from the prior year.
Capital Allocation
Owens Corning invested $150.0M in research and development in fiscal year 2025. This represents an increase of 14.5% from the prior year.
Owens Corning spent $815.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 66.0% from the prior year.
Owens Corning invested $824.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 27.4% from the prior year.
OC Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3B+5.7% | $2.1B-20.2% | $2.7B-2.3% | $2.7B+8.6% | $2.5B-1.7% | $2.6B-6.8% | $2.8B+10.7% | $2.5B |
| Cost of Revenue | $1.8B+6.8% | $1.6B-14.7% | $1.9B+2.0% | $1.9B+4.7% | $1.8B-1.1% | $1.8B-4.6% | $1.9B+13.5% | $1.7B |
| Gross Profit | $510.0M+2.4% | $498.0M-34.2% | $757.0M-11.8% | $858.0M+18.3% | $725.0M-3.2% | $749.0M-12.0% | $851.0M+4.7% | $813.0M |
| R&D Expenses | $37.0M-5.1% | $39.0M0.0% | $39.0M+5.4% | $37.0M+5.7% | $35.0M-12.5% | $40.0M+25.0% | $32.0M0.0% | $32.0M |
| SG&A Expenses | $258.0M+3.2% | $250.0M+4.2% | $240.0M-8.7% | $263.0M+0.8% | $261.0M-7.4% | $282.0M+9.3% | $258.0M+12.7% | $229.0M |
| Operating Income | $120.0M+153.3% | -$225.0M+31.2% | -$327.0M-164.8% | $505.0M+24.1% | $407.0M+88.4% | $216.0M-54.2% | $472.0M+12.9% | $418.0M |
| Interest Expense | $66.0M-79.4% | $320.0M+592.3% | -$65.0M-3.2% | -$63.0M-198.4% | $64.0M-82.0% | $356.0M+615.9% | -$69.0M-9.5% | -$63.0M |
| Income Tax | $15.0M+314.3% | -$7.0M-106.9% | $102.0M-7.3% | $110.0M+25.0% | $88.0M+175.0% | $32.0M-72.9% | $118.0M+16.8% | $101.0M |
| Net Income | -$105.0M+64.8% | -$298.0M+39.7% | -$494.0M-236.1% | $363.0M+490.3% | -$93.0M+64.0% | -$258.0M-180.4% | $321.0M+12.6% | $285.0M |
| EPS (Diluted) | $-1.29 | N/A | $-5.92-239.3% | $4.25+493.5% | $-1.08 | N/A | $3.65+12.7% | $3.24 |
OC Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.1B+0.9% | $13.0B-4.0% | $13.5B-6.7% | $14.5B+1.5% | $14.3B+1.4% | $14.1B-6.5% | $15.1B+0.4% | $15.0B |
| Current Assets | $3.7B+11.3% | $3.3B-10.2% | $3.7B-4.8% | $3.9B-0.2% | $3.9B+16.2% | $3.4B-12.6% | $3.9B+3.9% | $3.7B |
| Cash & Equivalents | $272.0M-21.2% | $345.0M+20.6% | $286.0M+24.3% | $230.0M-42.5% | $400.0M+24.6% | $321.0M-35.7% | $499.0M+96.5% | $254.0M |
| Inventory | $1.5B+1.4% | $1.5B+3.4% | $1.4B-2.5% | $1.5B+3.7% | $1.4B+6.0% | $1.3B-16.9% | $1.6B+1.3% | $1.6B |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $1.7B-0.9% | $1.7B-17.2% | $2.0B-27.9% | $2.8B+1.9% | $2.8B+0.6% | $2.7B-4.3% | $2.9B+6.9% | $2.7B |
| Total Liabilities | $9.4B+3.5% | $9.1B+0.1% | $9.1B-2.2% | $9.3B-0.7% | $9.3B+4.3% | $9.0B-4.5% | $9.4B-0.9% | $9.5B |
| Current Liabilities | $3.0B+13.2% | $2.7B-0.3% | $2.7B+3.7% | $2.6B-5.4% | $2.7B+18.4% | $2.3B-14.4% | $2.7B-1.5% | $2.7B |
| Long-Term Debt | $4.7B0.0% | $4.7B+0.2% | $4.7B-7.9% | $5.1B+0.7% | $5.0B-0.4% | $5.1B+0.8% | $5.0B+0.2% | $5.0B |
| Total Equity | $3.6B-5.4% | $3.9B-12.4% | $4.4B-14.8% | $5.2B+5.8% | $4.9B-3.8% | $5.1B-9.7% | $5.6B+2.8% | $5.5B |
| Retained Earnings | $4.3B-3.8% | $4.5B-7.5% | $4.8B-10.3% | $5.4B+6.0% | $5.1B-2.9% | $5.2B-5.7% | $5.5B+5.1% | $5.3B |
OC Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$154.0M-126.1% | $590.0M-35.7% | $918.0M+180.7% | $327.0M+767.3% | -$49.0M-107.2% | $676.0M-3.3% | $699.0M+41.8% | $493.0M |
| Capital Expenditures | $233.0M-9.3% | $257.0M+54.8% | $166.0M-16.2% | $198.0M-2.5% | $203.0M+3.0% | $197.0M+39.7% | $141.0M-10.2% | $157.0M |
| Free Cash Flow | -$387.0M-216.2% | $333.0M-55.7% | $752.0M+482.9% | $129.0M+151.2% | -$252.0M-152.6% | $479.0M-14.2% | $558.0M+66.1% | $336.0M |
| Investing Cash Flow | -$190.0M+24.6% | -$252.0M-51.8% | -$166.0M+11.7% | -$188.0M-18.2% | -$159.0M+20.5% | -$200.0M-412.8% | -$39.0M+98.7% | -$3.0B |
| Financing Cash Flow | $235.0M+181.3% | -$289.0M+56.9% | -$671.0M-78.5% | -$376.0M-242.4% | $264.0M+146.6% | -$567.0M-35.0% | -$420.0M-127.0% | $1.6B |
| Dividends Paid | $63.0M+12.5% | $56.0M-3.4% | $58.0M-1.7% | $59.0M0.0% | $59.0M+13.5% | $52.0M0.0% | $52.0M0.0% | $52.0M |
| Share Buybacks | $22.0M-90.5% | $232.0M+5.5% | $220.0M-3.1% | $227.0M+66.9% | $136.0M+32.0% | $103.0M-49.3% | $203.0M+745.8% | $24.0M |
OC Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.5%-0.7pp | 23.3%-4.9pp | 28.2%-3.0pp | 31.2%+2.6pp | 28.7%-0.4pp | 29.1%-1.7pp | 30.8%-1.8pp | 32.6% |
| Operating Margin | 5.3%+15.8pp | -10.5%+1.7pp | -12.2%-30.6pp | 18.4%+2.3pp | 16.1%+7.7pp | 8.4%-8.7pp | 17.1%+0.3pp | 16.7% |
| Net Margin | -4.6%+9.3pp | -13.9%+4.5pp | -18.4%-31.6pp | 13.2%+16.9pp | -3.7%+6.3pp | -10.0%-21.6pp | 11.6%+0.2pp | 11.4% |
| Return on Equity | -2.9%+4.9pp | -7.7%+3.5pp | -11.2%-18.3pp | 7.0%+8.9pp | -1.9%+3.2pp | -5.1%-10.8pp | 5.7%+0.5pp | 5.2% |
| Return on Assets | -0.8%+1.5pp | -2.3%+1.3pp | -3.6%-6.2pp | 2.5%+3.2pp | -0.7%+1.2pp | -1.8%-4.0pp | 2.1%+0.2pp | 1.9% |
| Current Ratio | 1.24-0.0 | 1.26-0.1 | 1.40-0.1 | 1.52+0.1 | 1.44-0.0 | 1.47+0.0 | 1.44+0.1 | 1.37 |
| Debt-to-Equity | 1.29+0.1 | 1.22+0.2 | 1.06+0.1 | 0.98-0.0 | 1.03+0.0 | 1.00+0.1 | 0.89-0.0 | 0.92 |
| FCF Margin | -17.1%-32.6pp | 15.6%-12.5pp | 28.0%+23.3pp | 4.7%+14.7pp | -10.0%-28.6pp | 18.6%-1.6pp | 20.2%+6.7pp | 13.5% |
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Frequently Asked Questions
What is Owens Corning's annual revenue?
Owens Corning (OC) reported $10.1B in total revenue for fiscal year 2025. This represents a 2.6% 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 2.6% year-over-year, from $9.9B to $10.1B in fiscal year 2025.
Is Owens Corning profitable?
No, Owens Corning (OC) reported a net income of -$522.0M in fiscal year 2025, with a net profit margin of -5.2%.
What is Owens Corning's EBITDA?
Owens Corning (OC) had EBITDA of $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Owens Corning have?
As of fiscal year 2025, Owens Corning (OC) had $345.0M in cash and equivalents against $4.7B in long-term debt.
What is Owens Corning's gross margin?
Owens Corning (OC) had a gross margin of 28.1% in fiscal year 2025, 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 3.6% in fiscal year 2025, 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 -5.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Owens Corning pay dividends?
Yes, Owens Corning (OC) paid $2.86 per share in dividends during fiscal year 2025.
What is Owens Corning's return on equity (ROE)?
Owens Corning (OC) has a return on equity of -13.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Owens Corning's free cash flow?
Owens Corning (OC) generated $962.0M in free cash flow during fiscal year 2025. This represents a -22.7% 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 $1.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Owens Corning's total assets?
Owens Corning (OC) had $13.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Owens Corning's capital expenditures?
Owens Corning (OC) invested $824.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Owens Corning spend on research and development?
Owens Corning (OC) invested $150.0M in research and development during fiscal year 2025.
What is Owens Corning's current ratio?
Owens Corning (OC) had a current ratio of 1.26 as of fiscal year 2025, which is considered adequate.
What is Owens Corning's debt-to-equity ratio?
Owens Corning (OC) had a debt-to-equity ratio of 1.22 as of fiscal year 2025, 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 -4.0% for fiscal year 2025, 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 2.06, 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 4 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 to 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 -3.42x, considered mixed 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 1.4x, meaning it can struggle to 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 43 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.