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Owens Corning key statistics and ratios

In fiscal 2025, Owens Corning had return on equity of -11.7%, an operating margin of 3.6%, debt equal to 135.2% of equity and a current ratio of 1.26. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin17.7%19.1%19.3%15.4%18.2%18.6%21.6%24.3%24.6%23.1%22.5%22.8%26.1%26.8%29.0%30.9%28.1%26.0%
Operating margin—————7.5%10.2%12.3%12.5%11.4%11.0%−2.0%16.9%17.6%19.6%15.0%3.6%0.5%
Net margin1.3%18.7%5.2%−0.4%3.9%4.3%6.2%6.9%4.5%7.7%5.7%−5.4%11.7%12.7%14.3%6.6%−5.2%−6.8%
Free-cash-flow margin6.2%3.5%−2.9%−0.0%0.6%1.2%6.4%10.0%10.6%3.8%8.2%11.7%12.8%13.5%14.2%12.6%9.5%9.1%
Return on equity2.3%28.8%7.5%−0.5%5.6%6.0%8.9%10.4%7.2%12.9%9.1%−9.0%24.3%28.0%24.6%12.6%−11.7%−17.6%
Return on assets0.9%13.0%3.8%−0.3%2.7%3.0%4.4%5.2%3.5%5.9%4.1%−3.9%10.2%12.0%10.9%5.1%−3.9%−5.2%
Asset turnover0.670.700.730.690.700.690.720.750.780.770.720.720.870.940.760.780.750.77
Current ratio1.971.471.801.771.861.841.421.651.551.581.551.811.821.691.691.471.261.16
Debt to equity77.9%44.8%53.0%59.0%53.5%54.8%50.9%55.5%58.9%79.9%65.6%81.7%70.4%66.8%59.6%103.4%135.2%137.6%
Interest cover (operating income ÷ interest)—————3.4x5.5x6.5x7.4x6.9x6.0xn/m11.4x15.7x22.1x7.1x1.4x0.1x
Effective tax rate17.3%—21.0%—24.9%2.2%26.5%31.9%48.1%22.2%31.5%—24.3%23.1%25.6%26.2%——
R&D as % of revenue1.3%1.5%1.4%1.5%1.5%1.4%1.4%1.4%1.3%1.3%1.2%1.2%1.1%1.1%1.3%1.3%1.5%1.5%
SG&A as % of revenue——————————————8.9%9.7%10.0%10.2%
Capital spending as % of revenue5.1%6.3%8.3%6.4%6.7%7.4%7.5%6.6%5.3%7.6%6.2%4.4%4.9%4.6%6.3%6.6%8.2%8.7%
Free cash flow ÷ net income465.6%18.6%−55.4%—14.7%27.0%103.3%145.0%234.9%48.8%145.7%—109.2%105.9%99.7%192.4%——
Dividends ÷ net income————0.0%24.8%23.6%20.6%30.8%16.9%23.5%—10.9%11.0%15.7%32.1%——
Dividends and buybacks ÷ free cash flow1.0%69.0%——210.0%163.9%63.3%57.5%36.5%123.3%26.4%51.0%62.4%70.9%70.8%56.1%108.8%102.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $12.7bn
Short-term assets $3.4bnLonger-term assets $9.3bn
What it owes, and who funded it · $12.7bn
Short-term liabilities $3.0bnLonger-term liabilities $6.0bnShareholders' equity $3.8bn
  • Short-term assets cover short-term liabilities $3.4bn of assets due within a year against $3.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.4bn short-term assets against $6.0bn of longer-dated liabilities.
  • More cash than debt $271m of cash against $4.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 112% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 69% to 112% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.8bn of operating cash flow against $4.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $50m against $518m of interest.

From Owens Corning's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

48 /100

Moderate moat

How hard Owens Corning's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 6 / 20

    Net income has been a median 4.8% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 25.7%, moving by 3.0 percentage points (standard deviation) across 10 years.

  • Durability 4 / 20

    Operating margin has been a median 15.1%; its worst year was -3.8%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 9.5% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 23.9% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (53 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: MAS vs OCOC vs REZIBLDR vs OC

More: Building Products stocks compared, Industrials sector, rankings of US companies

Figures from Owens Corning's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Owens Corning.