Owens Corning
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Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. The last earnings update was 22 days ago. More info.
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OC Share Price and Events
7 Day Returns
1 Year Returns
OC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Owens Corning (OC) | -2.5% | -8.2% | -10.5% | -25.3% | -2% | 18.8% |
| US Building | -2.7% | 1.4% | 4.2% | -0.6% | 10.8% | 20.4% |
| US Market | -3.9% | -3.6% | 1.8% | 1.4% | 35.8% | 40.8% |
1 Year Return vs Industry and Market
- OC underperformed the Building industry which returned -0.6% over the past year.
- OC underperformed the Market in United States of America which returned 1.4% over the past year.
Value
Is Owens Corning undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Owens Corning
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Owens Corning.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 17 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 12.1% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Building Unlevered Beta | Simply Wall St/ S&P Global | 1.16 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.16 (1 + (1- 21%) (74.76%)) |
1.566 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.57 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.566 * 5.96%) |
12.06% |
Discounted Cash Flow Calculation for NYSE:OC using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Owens Corning is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 12.06%) |
|
|---|---|---|---|
| 2019 | 636.65 | Analyst x4 | 568.11 |
| 2020 | 642.93 | Analyst x6 | 511.95 |
| 2021 | 763.00 | Analyst x1 | 542.15 |
| 2022 | 860.53 | Est @ 12.78% | 545.62 |
| 2023 | 944.58 | Est @ 9.77% | 534.44 |
| 2024 | 1,016.90 | Est @ 7.66% | 513.41 |
| 2025 | 1,079.72 | Est @ 6.18% | 486.44 |
| 2026 | 1,135.26 | Est @ 5.14% | 456.40 |
| 2027 | 1,185.44 | Est @ 4.42% | 425.27 |
| 2028 | 1,231.82 | Est @ 3.91% | 394.33 |
| Present value of next 10 years cash flows | $4,978.13 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $1,231.82 × (1 + 2.73%) ÷ (12.06% – 2.73%) |
$13,556.48 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $13,556.48 ÷ (1 + 12.06%)10 |
$4,339.71 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $4,978.13 + $4,339.71 |
$9,317.84 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $9,317.84 / 108.57 |
$85.82 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $85.82 |
| Current discount | Discount to share price of
$48.96
= -1 x ($48.96 - $85.82) / $85.82 |
43% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Owens Corning's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Owens Corning's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Owens Corning's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Owens Corning's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $4.52 |
| NYSE:OC Share Price ** | NYSE (2019-05-15) in USD | $48.96 |
| United States of America Building Industry PE Ratio | Median Figure of 30 Publicly-Listed Building Companies | 18.94x |
| United States of America Market PE Ratio | Median Figure of 3,087 Publicly-Listed Companies | 17.79x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Owens Corning.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:OC Share Price ÷ EPS (both in USD) = 48.96 ÷ 4.52 |
10.83x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Owens Corning is good value based on earnings compared to the US Building industry average.
- Owens Corning is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Owens Corning's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 10.83x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts |
15.2%per year |
| United States of America Building Industry PEG Ratio | Median Figure of 27 Publicly-Listed Building Companies | 1.27x |
| United States of America Market PEG Ratio | Median Figure of 2,113 Publicly-Listed Companies | 1.52x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 10.83x ÷ 15.2% |
0.71x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Owens Corning is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
Owens Corning's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $39.24 |
| NYSE:OC Share Price * | NYSE (2019-05-15) in USD | $48.96 |
| United States of America Building Industry PB Ratio | Median Figure of 37 Publicly-Listed Building Companies | 2.24x |
| United States of America Market PB Ratio | Median Figure of 5,195 Publicly-Listed Companies | 1.83x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:OC Share Price ÷ Book Value per Share (both in USD) = 48.96 ÷ 39.24 |
1.25x |
* Primary Listing of Owens Corning.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Owens Corning is good value based on assets compared to the US Building industry average.
Value checks
We assess Owens Corning's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Building industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Building industry average (and greater than 0)? (1 check) Owens Corning has a total score of 6/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Owens Corning's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Owens Corning's earnings growth is expected to exceed the United States of America market average.
- Owens Corning's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:OC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts | 15.2% |
| NYSE:OC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts | 3.1% |
| United States of America Building Industry Earnings Growth Rate | Market Cap Weighted Average | 9.6% |
| United States of America Building Industry Revenue Growth Rate | Market Cap Weighted Average | 3.9% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 17 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 7,581 | 1,228 | 707 | 2 |
| 2020-12-31 | 7,396 | 1,061 | 594 | 16 |
| 2019-12-31 | 7,151 | 1,022 | 499 | 17 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 7,033 | 742 | 497 |
| 2018-12-31 | 7,057 | 803 | 545 |
| 2018-09-30 | 6,939 | 828 | 370 |
| 2018-06-30 | 6,824 | 930 | 305 |
| 2018-03-31 | 6,597 | 919 | 280 |
| 2017-12-31 | 6,384 | 1,016 | 289 |
| 2017-09-30 | 6,161 | 958 | 379 |
| 2017-06-30 | 5,976 | 1,009 | 395 |
| 2017-03-31 | 5,924 | 887 | 437 |
| 2016-12-31 | 5,677 | 943 | 393 |
| 2016-09-30 | 5,591 | 1,011 | 416 |
| 2016-06-30 | 5,520 | 962 | 416 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 17 Analyst Estimates (S&P Global) | See Below |
All data from Owens Corning Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 6.01 | 6.01 | 6.01 | 1.00 |
| 2020-12-31 | 5.52 | 6.12 | 5.12 | 9.00 |
| 2019-12-31 | 4.55 | 4.72 | 4.31 | 8.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 4.52 |
| 2018-12-31 | 4.94 |
| 2018-09-30 | 3.34 |
| 2018-06-30 | 2.75 |
| 2018-03-31 | 2.52 |
| 2017-12-31 | 2.59 |
| 2017-09-30 | 3.39 |
| 2017-06-30 | 3.50 |
| 2017-03-31 | 3.85 |
| 2016-12-31 | 3.44 |
| 2016-09-30 | 3.61 |
| 2016-06-30 | 3.58 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Owens Corning's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Owens Corning has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Owens Corning performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Owens Corning's year on year earnings growth rate has been positive over the past 5 years.
- Owens Corning's 1-year earnings growth exceeds its 5-year average (77.5% vs 12.2%)
- Owens Corning's earnings growth has exceeded the US Building industry average in the past year (77.5% vs 24.3%).
Earnings and Revenue History
All data from Owens Corning Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 7,033.00 | 497.00 | 682.00 | 88.00 |
| 2018-12-31 | 7,057.00 | 545.00 | 680.00 | 89.00 |
| 2018-09-30 | 6,939.00 | 370.00 | 655.00 | 87.00 |
| 2018-06-30 | 6,824.00 | 305.00 | 685.00 | 88.00 |
| 2018-03-31 | 6,597.00 | 280.00 | 713.00 | 87.00 |
| 2017-12-31 | 6,384.00 | 289.00 | 674.00 | 85.00 |
| 2017-09-30 | 6,161.00 | 379.00 | 632.00 | 86.00 |
| 2017-06-30 | 5,976.00 | 395.00 | 592.00 | 84.00 |
| 2017-03-31 | 5,924.00 | 437.00 | 587.00 | 84.00 |
| 2016-12-31 | 5,677.00 | 393.00 | 576.00 | 82.00 |
| 2016-09-30 | 5,591.00 | 416.00 | 557.00 | 80.00 |
| 2016-06-30 | 5,520.00 | 416.00 | 547.00 | 78.00 |
| 2016-03-31 | 5,378.00 | 369.00 | 528.00 | 75.00 |
| 2015-12-31 | 5,350.00 | 330.00 | 525.00 | 73.00 |
| 2015-09-30 | 5,298.00 | 254.00 | 504.00 | 72.00 |
| 2015-06-30 | 5,233.00 | 194.00 | 484.00 | 72.00 |
| 2015-03-31 | 5,185.00 | 124.00 | 484.00 | 74.00 |
| 2014-12-31 | 5,260.00 | 226.00 | 487.00 | 76.00 |
| 2014-09-30 | 5,293.00 | 275.00 | 507.00 | 77.00 |
| 2014-06-30 | 5,231.00 | 274.00 | 525.00 | 78.00 |
| 2014-03-31 | 5,223.00 | 302.00 | 529.00 | 78.00 |
| 2013-12-31 | 5,295.00 | 204.00 | 530.00 | 77.00 |
| 2013-09-30 | 5,176.00 | 66.00 | 524.00 | 76.00 |
| 2013-06-30 | 5,132.00 | 59.00 | 511.00 | 77.00 |
| 2013-03-31 | 5,176.00 | 49.00 | 505.00 | 78.00 |
| 2012-12-31 | 5,172.00 | -19.00 | 509.00 | 79.00 |
| 2012-09-30 | 5,209.00 | 87.00 | 510.00 | 79.00 |
| 2012-06-30 | 5,383.00 | 167.00 | 514.00 | 79.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Owens Corning has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Owens Corning used its assets less efficiently than the US Building industry average last year based on Return on Assets.
- Owens Corning's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Owens Corning's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Building industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Owens Corning has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Owens Corning's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Owens Corning's finances.
The net worth of a company is the difference between its assets and liabilities.
- Owens Corning is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Owens Corning's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Owens Corning Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 4,302.00 | 3,974.00 | 82.00 |
| 2018-12-31 | 4,324.00 | 3,387.00 | 78.00 |
| 2018-09-30 | 4,206.00 | 3,674.00 | 136.00 |
| 2018-06-30 | 4,167.00 | 3,641.00 | 149.00 |
| 2018-03-31 | 4,141.00 | 3,767.00 | 140.00 |
| 2017-12-31 | 4,204.00 | 2,410.00 | 246.00 |
| 2017-09-30 | 4,114.00 | 2,544.00 | 168.00 |
| 2017-06-30 | 4,015.00 | 2,689.00 | 199.00 |
| 2017-03-31 | 3,946.00 | 2,259.00 | 101.00 |
| 2016-12-31 | 3,889.00 | 2,102.00 | 112.00 |
| 2016-09-30 | 3,935.00 | 2,164.00 | 110.00 |
| 2016-06-30 | 3,905.00 | 2,278.00 | 67.00 |
| 2016-03-31 | 3,828.00 | 1,951.00 | 54.00 |
| 2015-12-31 | 3,779.00 | 1,871.00 | 96.00 |
| 2015-09-30 | 3,774.00 | 2,000.00 | 63.00 |
| 2015-06-30 | 3,748.00 | 2,177.00 | 80.00 |
| 2015-03-31 | 3,683.00 | 2,291.00 | 77.00 |
| 2014-12-31 | 3,730.00 | 2,009.00 | 67.00 |
| 2014-09-30 | 3,897.00 | 2,197.00 | 51.00 |
| 2014-06-30 | 3,911.00 | 2,292.00 | 81.00 |
| 2014-03-31 | 3,899.00 | 2,388.00 | 65.00 |
| 2013-12-31 | 3,830.00 | 2,031.00 | 57.00 |
| 2013-09-30 | 3,651.00 | 2,187.00 | 53.00 |
| 2013-06-30 | 3,629.00 | 2,274.00 | 73.00 |
| 2013-03-31 | 3,594.00 | 2,315.00 | 62.00 |
| 2012-12-31 | 3,575.00 | 2,085.00 | 55.00 |
| 2012-09-30 | 3,680.00 | 2,216.00 | 51.00 |
| 2012-06-30 | 3,651.00 | 2,237.00 | 54.00 |
- Owens Corning's level of debt (92.4%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (61.2% vs 92.4% today).
- Debt is not well covered by operating cash flow (18.7%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 6.4x coverage).
Financial health checks
We assess Owens Corning's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Owens Corning has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Owens Corning's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Owens Corning
shares you are expected to receive
$36
in your first year as a dividend.
Dividend Amount
- Owens Corning's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
- Owens Corning's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 17 Analyst Estimates (S&P Global) | See Below |
| United States of America Building Industry Average Dividend Yield | Market Cap Weighted Average of 16 Stocks | 1.9% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 1997 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 0.90 | 2.00 |
| 2020-12-31 | 0.93 | 6.00 |
| 2019-12-31 | 0.88 | 6.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-07 | 0.880 | 1.754 |
| 2018-12-06 | 0.880 | 1.891 |
| 2018-09-20 | 0.840 | 1.662 |
| 2018-06-21 | 0.840 | 1.378 |
| 2018-02-01 | 0.840 | 1.134 |
| 2017-12-07 | 0.840 | 0.910 |
| 2017-09-21 | 0.800 | 0.980 |
| 2017-06-15 | 0.800 | 1.167 |
| 2017-02-03 | 0.800 | 1.318 |
| 2016-12-02 | 0.800 | 1.496 |
| 2016-09-16 | 0.720 | 1.401 |
| 2016-06-16 | 0.720 | 1.353 |
| 2016-02-10 | 0.720 | 1.518 |
| 2015-12-04 | 0.680 | 1.499 |
| 2015-09-17 | 0.680 | 1.506 |
| 2015-06-18 | 0.680 | 1.559 |
| 2015-04-22 | 0.680 | 1.684 |
| 2015-02-11 | 0.680 | 1.657 |
| 2014-12-05 | 0.640 | 1.733 |
| 2014-09-19 | 0.640 | 1.962 |
| 2014-06-12 | 0.640 | 1.762 |
| 2014-04-23 | 0.640 | 1.559 |
| 2014-02-12 | 0.640 | 1.477 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Owens Corning has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Owens Corning only paid a dividend in the past 5 years.
Income/ dividend checks
We assess Owens Corning's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Owens Corning afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Owens Corning has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $8,737,460 |
| AGE | 54 |
| TENURE AS CEO | 11.4 years |
CEO Bio
Mr. Michael H. Thaman, also known as Mike, serves as Chairman and Chief Executive Officer of Owens Corning Canada LP. Mr. Thaman served as the Chief Executive Officer of Owens Corning since December 6, 2007 until April 18, 2019 and was its President since December 6, 2007 until 2018. Mr. Thaman serves as the Chief Executive Officer and President at Owens Corning Fabwel, LLC. joined Owens in 1992 and served as its Chief Financial Officer from 2000 to September 2007. Previously, he served as President of the Exterior Systems Business beginning in 1999 and President of the Engineered Pipe Systems Business beginning January 1997 to December 1998. Mr. Thaman served as Vice President at Mercer Management Consulting. He has been Executive Chairman of Owens Corning since April 18, 2019 and served as its Chairman of the Board since April 2002 until April 18, 2019 and has been its Director since January 2002. He serves as the Chairman of Owens Corning Fabwel, LLC. He serves as Chairman of the Policy Advisory Board of the Harvard Joint Center for Housing Studies of Harvard University. He has been a Director of The Sherwin-Williams Company since April 2017. He serves as a Member of the Board of Directors of Kohler Company. He serves as a Member of the Advisory Board of Marble Harbor Investment Counsel, LLC. He served as Director of Florida Power & Light Company. He served as Director of AGY Holding Corp., since April 2000. He served as Independent Director of NextEra Energy, Inc., since July 2003 to May 22, 2014 and served as its Lead Independent Director. He is a member of Business Roundtable, where he previously chaired the Energy Efficiency Task Force. Mr. Thaman earned a Bachelor's degree in Electrical Engineering and Computer Science from Princeton University in 1986.
CEO Compensation
- Mike's compensation has been consistent with company performance over the past year.
- Mike's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Owens Corning management team in years:
- The average tenure for the Owens Corning management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Mike Thaman
Executive Chairman
$9M
54
11.4 yrs
Brian Chambers
CEO & Director
$3M
51
0.1 yrs
Michael McMurray
Senior VP & CFO
$3M
53
6.8 yrs
Dan Smith
Senior Vice President of Organization & Administration
$3M
53
4.5 yrs
Julian Francis
President of Insulation Business
$3M
51
4.6 yrs
Thierry Denis
Vice President of Investor Relations
Ava Harter
Senior VP
48
4 yrs
Raymund Trost
Vice President of CSB Europe and Managing Director of CSB Europe
15.2 yrs
Frank O'Brien-Bernini
Chief Sustainability Officer & VP
61
18.3 yrs
William LeBaron
Vice President and President of Owens Corning Construction Services
62
12.7 yrs
Board of Directors Tenure
Average tenure and age of the Owens Corning board of directors in years:
- The tenure for the Owens Corning board of directors is about average.
Board of Directors
Brian Chambers
CEO & Director
$3M
51
0.1 yrs
James Ferguson
Director
$255K
63
8.3 yrs
Mike Thaman
Executive Chairman
$9M
54
17.1 yrs
John Williams
Lead Independent Director
$275K
64
4.1 yrs
Suzanne Nimocks
Director
$250K
59
6.7 yrs
Ed Lonergan
Director
$250K
58
5.7 yrs
Ralph Hake
Independent Director
$235K
69
12.7 yrs
W. Morris
Director
$235K
57
12.3 yrs
Cesar Conde
Director
$235K
44
4.8 yrs
Maryann Mannen
Director
$235K
55
4.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 08. May 19 | Sell | Gunner Smith | Individual | 07. May 19 | 07. May 19 | -7,900 | $51.79 | $-409,141 | ||
| 01. May 19 | Sell | Julian Francis | Individual | 30. Apr 19 | 30. Apr 19 | -600 | $51.51 | $-30,903 | ||
| 18. Mar 19 | Sell | Marcio Sandri | Individual | 15. Mar 19 | 15. Mar 19 | -3,700 | $47.01 | $-173,937 | ||
| 26. Feb 19 | Sell | Daniel Smith | Individual | 22. Feb 19 | 22. Feb 19 | -18,681 | $50.76 | $-948,071 | ||
| 27. Aug 18 | Sell | W. Morris | Individual | 23. Aug 18 | 23. Aug 18 | -1,514 | $58.47 | $-88,524 | ||
Management checks
We assess Owens Corning's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Owens Corning has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Is Owens Corning (NYSE:OC) Trading At A 44% Discount?
Today we will run through one way of estimating the intrinsic value of Owens Corning (NYSE:OC) by taking the expected future cash flows and discounting them to today's value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $636.65 $642.93 $763.00 $860.53 $944.58 $1.02k $1.08k $1.14k $1.19k $1.23k Growth Rate Estimate Source Analyst x4 Analyst x6 Analyst x1 Est @ 12.78% Est @ 9.77% Est @ 7.66% Est @ 6.18% Est @ 5.14% Est @ 4.42% Est @ 3.91% Present Value ($, Millions) Discounted @ 11.99% $568.48 $512.62 $543.21 $547.05 $536.18 $515.42 $488.66 $458.78 $427.76 $396.91 Present Value of 10-year Cash Flow (PVCF)= $5.00b "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … NYSE:OC Intrinsic value, May 14th 2019 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.
Simply Wall St - – Full articleWhy Dividend Hunters Love Owens Corning (NYSE:OC)
Today we'll take a closer look at Owens Corning (NYSE:OC) from a dividend investor's perspective. Owning a strong dividend company and reinvesting the dividends is widely seen as an attractive way of growing your wealth.. … With a 1.7% yield and a five-year payment history, investors probably think Owens Corning looks like a reliable dividend stock.! … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1
Simply Wall St - – Full articleDoes Owens Corning's (NYSE:OC) P/E Ratio Signal A Buying Opportunity?
We'll look at Owens Corning's (NYSE:OC) P/E ratio and reflect on what it tells us about the company's share price. … Looking at earnings over the last twelve months, Owens Corning has a P/E ratio of 11.26. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleThose Who Purchased Owens Corning (NYSE:OC) Shares A Year Ago Have A 36% Loss To Show For It
While not a mind-blowing move, it is good to see that the Owens Corning (NYSE:OC) share price has gained 13% in the last three months. … But that is minimal compensation for the share price under-performance over the last year. … Even though the Owens Corning share price is down over the year, its EPS actually improved.
Simply Wall St - – Full articleIs Owens Corning's (NYSE:OC) 13% ROE Strong Compared To Its Industry?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Owens Corning has a return on equity of 13% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleShould You Investigate Owens Corning (NYSE:OC) At US$47.12?
saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Today I will analyse the most recent data on Owens Corning’s outlook and valuation to see if the opportunity still exists
Simply Wall St - – Full articleDoes Owens Corning's (NYSE:OC) CEO Pay Reflect Performance?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Mike Thaman's Compensation Compare With Similar Sized Companies. … Our data indicates that Owens Corning is worth US$5.2b, and total annual CEO compensation is US$10m.
Simply Wall St - – Full articleWhat Should Investors Know About Owens Corning's (NYSE:OC) Long Term Outlook?
Owens Corning's (NYSE:OC) most recent earnings announcement in December 2018a … revealed … company
Simply Wall St - – Full articleOnly 4 Days Left To Cash In On Owens Corning (NYSE:OC) Dividend
On the 02 April 2019, Owens Corning (NYSE:OC) will be paying shareholders an upcoming dividend amount of US$0.22 per share. … Below, I will explain how holding Owens Corning can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?
Simply Wall St - – Full articleIs Owens Corning's (NYSE:OC) Future Growth Already Accounted For In Today's Price?
Looking at Owens Corning’s (NYSE:OC) fundamentals some investors are wondering if its last closing price of $52.61 represents a good value for money for this high growth stock. … What can we expect from Owens Corning in the future. … Investors in Owens Corning have been patiently waiting for the uptick in earnings.
Simply Wall St - – Full articleCompany Info
Description
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products. Its products are used in pipe, roofing shingles, sporting goods, consumer electronics, telecommunications cables, boats, aviation, defense, automotive, industrial containers, and wind-energy applications in the building and construction, transportation, consumer, industrial, and power and energy markets. The Insulation segment manufactures and sells fiberglass insulation into residential, commercial, industrial, and other markets for thermal and acoustical applications; and manufactures and sells glass fiber pipe insulation, flexible duct media, bonded and granulated mineral fiber insulation, cellular glass insulation, and foam insulation used in above- and below-grade construction applications. This segment sells its products primarily to the insulation installers, home centers, lumberyards, retailers, and distributors. The Roofing segment manufactures and sells residential roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications, as well as synthetic packaging materials. This segment sells its products through distributors, home centers, lumberyards, retailers, and contractors, as well as to roofing contractors for built-up roofing asphalt systems and to manufacturers in automotive, chemical, rubber, and construction industries. Owens Corning was founded in 1938 and is headquartered in Toledo, Ohio.
Details
| Name: | Owens Corning |
| OC | |
| Exchange: | NYSE |
| Founded: | 1938 |
| $5,315,564,384 | |
| 108,569,534 | |
| Website: | http://www.owenscorning.com |
| Address: |
Owens Corning One Owens Corning Parkway, Toledo, Ohio, 43659, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | OC | Common Stock | New York Stock Exchange | US | USD | 09. Oct 2006 | |
| DB | O5Q | Common Stock | Deutsche Boerse AG | DE | EUR | 09. Oct 2006 |
Number of employees
Current staff
Industry
| Building Products | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/16 01:53 |
| End of day share price update: | 2019/05/15 00:00 |
| Last estimates confirmation: | 2019/05/13 |
| Last earnings filing: | 2019/04/24 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
