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OC

Owens Corning NYSE:OC Stock Report

Last Price

US$80.89

Market Cap

US$7.8b

7D

2.1%

1Y

-8.2%

Updated

28 Sep, 2022

Data

Company Financials +
OC fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance5/6
Financial Health4/6
Dividends3/6

OC Stock Overview

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally.

Owens Corning Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Owens Corning
Historical stock prices
Current Share PriceUS$80.89
52 Week HighUS$101.12
52 Week LowUS$72.97
Beta1.53
1 Month Change-3.82%
3 Month Change8.86%
1 Year Change-8.21%
3 Year Change33.75%
5 Year Change2.26%
Change since IPO202.39%

Recent News & Updates

Sep 15

Owens Corning declares $0.35 dividend

Owens Corning (NYSE:OC) declares $0.35/share quarterly dividend, in line with previous. Forward yield 1.67% Payable Nov. 3; for shareholders of record Oct. 17; ex-div Oct. 14. See OC Dividend Scorecard, Yield Chart, & Dividend Growth.

Sep 13
Owens Corning (NYSE:OC) Seems To Use Debt Rather Sparingly

Owens Corning (NYSE:OC) Seems To Use Debt Rather Sparingly

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Aug 30
We Ran A Stock Scan For Earnings Growth And Owens Corning (NYSE:OC) Passed With Ease

We Ran A Stock Scan For Earnings Growth And Owens Corning (NYSE:OC) Passed With Ease

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...

Shareholder Returns

OCUS BuildingUS Market
7D2.1%-1.6%-2.0%
1Y-8.2%-23.2%-20.3%

Return vs Industry: OC exceeded the US Building industry which returned -25.6% over the past year.

Return vs Market: OC exceeded the US Market which returned -22.1% over the past year.

Price Volatility

Is OC's price volatile compared to industry and market?
OC volatility
OC Average Weekly Movement5.0%
Building Industry Average Movement5.2%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: OC is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: OC's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
193820,000Brian Chambershttps://www.owenscorning.com

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Owens Corning Fundamentals Summary

How do Owens Corning's earnings and revenue compare to its market cap?
OC fundamental statistics
Market CapUS$7.78b
Earnings (TTM)US$1.13b
Revenue (TTM)US$9.29b

6.9x

P/E Ratio

0.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
OC income statement (TTM)
RevenueUS$9.29b
Cost of RevenueUS$6.76b
Gross ProfitUS$2.53b
Other ExpensesUS$1.40b
EarningsUS$1.13b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)11.78
Gross Margin27.27%
Net Profit Margin12.21%
Debt/Equity Ratio62.9%

How did OC perform over the long term?

See historical performance and comparison

Dividends

1.7%

Current Dividend Yield

12%

Payout Ratio

Does OC pay a reliable dividends?

See OC dividend history and benchmarks
When do you need to buy OC by to receive an upcoming dividend?
Owens Corning dividend dates
Ex Dividend DateOct 14 2022
Dividend Pay DateNov 03 2022
Days until Ex dividend15 days
Days until Dividend pay date35 days

Does OC pay a reliable dividends?

See OC dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is OC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OC?

Other financial metrics that can be useful for relative valuation.

OC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.1x
Enterprise Value/EBITDA4.8x
PEG Ratio-2x

Price to Earnings Ratio vs Peers

How does OC's PE Ratio compare to its peers?

OC PE Ratio vs Peers
The above table shows the PE ratio for OC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average14.9x
AOS A. O. Smith
15.1x4.7%US$7.8b
FBHS Fortune Brands Home & Security
9.7x4.5%US$7.3b
LII Lennox International
17.4x9.1%US$8.2b
ALLE Allegion
17.4x13.2%US$8.1b
OC Owens Corning
6.9x-3.4%US$7.8b

Price-To-Earnings vs Peers: OC is good value based on its Price-To-Earnings Ratio (6.9x) compared to the peer average (14.9x).


Price to Earnings Ratio vs Industry

How does OC's PE Ratio compare vs other companies in the US Building Industry?

Price-To-Earnings vs Industry: OC is good value based on its Price-To-Earnings Ratio (6.9x) compared to the US Building industry average (14.4x)


Price to Earnings Ratio vs Fair Ratio

What is OC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.9x
Fair PE Ratio15.8x

Price-To-Earnings vs Fair Ratio: OC is good value based on its Price-To-Earnings Ratio (6.9x) compared to the estimated Fair Price-To-Earnings Ratio (15.8x).


Share Price vs Fair Value

What is the Fair Price of OC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: OC ($80.89) is trading below our estimate of fair value ($398.17)

Significantly Below Fair Value: OC is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Owens Corning forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-3.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OC's earnings are forecast to decline over the next 3 years (-3.4% per year).

Earnings vs Market: OC's earnings are forecast to decline over the next 3 years (-3.4% per year).

High Growth Earnings: OC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: OC's revenue (1.7% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: OC's revenue (1.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: OC's Return on Equity is forecast to be high in 3 years time (21.5%)


Discover growth companies

Past Performance

How has Owens Corning performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


17.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: OC has high quality earnings.

Growing Profit Margin: OC's current net profit margins (12.2%) are higher than last year (11.9%).


Past Earnings Growth Analysis

Earnings Trend: OC's earnings have grown by 17.5% per year over the past 5 years.

Accelerating Growth: OC's earnings growth over the past year (19.9%) exceeds its 5-year average (17.5% per year).

Earnings vs Industry: OC earnings growth over the past year (19.9%) underperformed the Building industry 32.2%.


Return on Equity

High ROE: OC's Return on Equity (24.8%) is considered high.


Discover strong past performing companies

Financial Health

How is Owens Corning's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: OC's short term assets ($3.7B) exceed its short term liabilities ($2.0B).

Long Term Liabilities: OC's short term assets ($3.7B) do not cover its long term liabilities ($4.0B).


Debt to Equity History and Analysis

Debt Level: OC's net debt to equity ratio (44.6%) is considered high.

Reducing Debt: OC's debt to equity ratio has reduced from 66.9% to 62.9% over the past 5 years.

Debt Coverage: OC's debt is well covered by operating cash flow (49.4%).

Interest Coverage: OC's interest payments on its debt are well covered by EBIT (14.9x coverage).


Balance Sheet


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Dividend

What is Owens Corning current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.73%

Current Dividend Yield

Upcoming Dividend Payment

TodaySep 29 2022Ex Dividend DateOct 14 2022Dividend Pay DateNov 03 202220 days from Ex DividendBuy in the next 15 days to receive the upcoming dividend

Dividend Yield vs Market

Owens Corning Dividend Yield vs Market
How does Owens Corning dividend yield compare to the market?
SegmentDividend Yield
Company (Owens Corning)1.7%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Building)1.7%
Analyst forecast in 3 Years (Owens Corning)1.8%

Notable Dividend: OC's dividend (1.73%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: OC's dividend (1.73%) is low compared to the top 25% of dividend payers in the US market (4.69%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, OC has been paying a dividend for less than 10 years.

Growing Dividend: OC's dividend payments have increased, but the company has only paid a dividend for 9 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (11.6%), OC's dividend payments are thoroughly covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (13.8%), OC's dividend payments are thoroughly covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.4yrs

Average management tenure


CEO

Brian Chambers (55 yo)

3.42yrs

Tenure

US$9,782,143

Compensation

Mr. Brian D. Chambers has been Chief Executive Officer and Director of Owens Corning since April 18, 2019 and serves as its President since August 1, 2018. He serves as Chair at Owens Corning since April 2...


CEO Compensation Analysis

Brian Chambers's Compensation vs Owens Corning Earnings
How has Brian Chambers's remuneration changed compared to Owens Corning's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$1b

Mar 31 2022n/an/a

US$1b

Dec 31 2021US$10mUS$1m

US$995m

Sep 30 2021n/an/a

US$1b

Jun 30 2021n/an/a

US$946m

Mar 31 2021n/an/a

US$744m

Dec 31 2020US$8mUS$1m

-US$383m

Sep 30 2020n/an/a

-US$542m

Jun 30 2020n/an/a

-US$598m

Mar 31 2020n/an/a

-US$556m

Dec 31 2019US$6mUS$918k

US$405m

Sep 30 2019n/an/a

US$503m

Jun 30 2019n/an/a

US$514m

Mar 31 2019n/an/a

US$497m

Dec 31 2018US$3mUS$588k

US$545m

Sep 30 2018n/an/a

US$370m

Jun 30 2018n/an/a

US$305m

Mar 31 2018n/an/a

US$280m

Dec 31 2017US$2mUS$493k

US$289m

Sep 30 2017n/an/a

US$379m

Jun 30 2017n/an/a

US$395m

Mar 31 2017n/an/a

US$437m

Dec 31 2016US$2mUS$450k

US$393m

Sep 30 2016n/an/a

US$416m

Jun 30 2016n/an/a

US$416m

Mar 31 2016n/an/a

US$369m

Dec 31 2015US$2mUS$400k

US$330m

Compensation vs Market: Brian's total compensation ($USD9.78M) is about average for companies of similar size in the US market ($USD8.63M).

Compensation vs Earnings: Brian's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: OC's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: OC's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: OC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

NYSE:OC Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
29 Aug 22SellUS$33,688W. MorrisIndividual401US$84.01
29 Jul 22SellUS$178,346Kelly SchmidtIndividual1,940US$91.93
06 Dec 21SellUS$781,601Gunner SmithIndividual8,500US$91.95

Ownership Breakdown

What is the ownership structure of OC?
Owner TypeNumber of SharesOwnership Percentage
State or Government40,9910.04%
Individual Insiders721,0810.7%
Institutions95,954,62399.2%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 61.49% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
12.43%
BlackRock, Inc.
11,964,475$967.8m2.34%0.02%
10.07%
The Vanguard Group, Inc.
9,693,797$784.1m-0.42%0.02%
4.31%
State Street Global Advisors, Inc.
4,146,517$335.4m-6.82%0.02%
3.53%
Davis Selected Advisers LP
3,395,504$274.7m409.61%1.53%
3.1%
Victory Capital Management Inc.
2,986,184$241.6m-4.01%0.26%
2.95%
AllianceBernstein L.P.
2,838,538$229.6m1.64%0.09%
2.36%
Dimensional Fund Advisors LP
2,270,876$183.7m1.25%0.04%
2.12%
FMR LLC
2,038,015$164.9m-5.03%0.01%
2.08%
Nordea Investment Management AB
1,999,081$161.7m-47.81%0.14%
1.94%
AQR Capital Management, LLC
1,863,471$150.7m26.23%0.32%
1.93%
LSV Asset Management
1,860,795$150.5m4.57%0.29%
1.42%
Geode Capital Management, LLC
1,367,742$110.6m-3.53%0.01%
1.37%
Deutsche Asset & Wealth Management
1,317,891$106.6m22.88%0.04%
1.24%
BNY Mellon Asset Management
1,192,378$96.5m-2.9%0.02%
1.21%
Managed Account Advisors LLC
1,162,429$94.0m-2.08%0.03%
1.18%
Northern Trust Global Investments
1,137,022$92.0m6.87%0.02%
1.14%
Amundi Asset Management
1,093,520$88.5m13.24%0.03%
1.09%
Norges Bank Investment Management
1,050,880$85.0m0%0.01%
0.93%
PGGM
892,190$72.2m0%0.4%
0.92%
Morgan Stanley, Investment Banking and Brokerage Investments
888,012$71.8m79.04%0.01%
0.87%
Schroder Investment Management Limited
841,029$68.0m-33.29%0.05%
0.86%
Eurizon Capital SGR S.p.A.
825,454$66.8m-0.8%0.27%
0.84%
Citadel Advisors LLC
809,867$65.5m517.71%0.1%
0.82%
Numeric Investors LLC
786,864$63.6m-11.71%0.37%
0.78%
Candriam Luxembourg S.A.
750,405$60.7m0.42%0.21%

Company Information

Owens Corning's employee growth, exchange listings and data sources


Key Information

  • Name: Owens Corning
  • Ticker: OC
  • Exchange: NYSE
  • Founded: 1938
  • Industry: Building Products
  • Sector: Capital Goods
  • Implied Market Cap: US$7.785b
  • Shares outstanding: 96.24m
  • Website: https://www.owenscorning.com

Number of Employees


Location

  • Owens Corning
  • One Owens Corning Parkway
  • Toledo
  • Ohio
  • 43659
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
OCNYSE (New York Stock Exchange)YesCommon StockUSUSDOct 2006
O5QDB (Deutsche Boerse AG)YesCommon StockDEEUROct 2006

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.