# Owens Corning (OC)

> Source: Nexqual · https://nexqual.com/OC · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Owens Corning (OC), nexqual.com/OC" · informational, not investment advice.

**Price:** USD 116.49 (+3.80% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 112.23 · day 110.72–117.12 · 52w 97.53–159.91 · market cap $9.21B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $9.85B, net income -$671M (-6.8% margin), free cash flow $897M (SEC filings).
- 3 of 80 tracked superinvestors hold OC (13F, Q2 2026): 0 new, 1 added, 2 reduced, 0 unchanged.
- Total return with dividends: 1Y -7.0% vs S&P 500 +14.9%; 5Y +42.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 3.05, revenue estimate $2.62B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $8.50B | $9.76B | $8.37B | $9.85B | $10.1B | $9.85B |
| Gross profit | $2.22B | $2.62B | $2.43B | $3.04B | $2.84B | — |
| Operating income | $1.44B | $1.71B | $1.64B | $1.48B | $360M | $50.0M |
| Net income | $995M | $1.24B | $1.20B | $647M | -$522M | -$671M |
| EPS (diluted) | $9.54 | $12.70 | $13.14 | $7.37 | -$6.22 | — |
| Free cash flow | $1.09B | $1.31B | $1.19B | $1.25B | $962M | $897M |
| Gross margin | 26.1% | 26.8% | 29.0% | 30.9% | 28.1% | — |
| Operating margin | 16.9% | 17.6% | 19.6% | 15.0% | 3.6% | 0.5% |
| Net margin | 11.7% | 12.7% | 14.3% | 6.6% | -5.2% | -6.8% |
| Revenue growth | +20.5% | +14.9% | -14.2% | +17.7% | +2.6% | — |
| Cash + short-term investments | $959M | $1.10B | $1.61B | $321M | $345M | — |
| Total debt | $2.98B | $3.02B | $3.05B | $5.10B | $5.12B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.9x · EV/EBITDA 18.5x · EV/Sales 1.4x · P/FCF 10.3x · P/B 2.4x · FCF yield 9.74% · Earnings yield -7.29% · Dividend yield (paid, TTM) 2.62% · Buyback yield (TTM) 7.41% · Net debt $4.85B · EV $14.1B
P/E at fiscal year-ends: Dec 2024 23.1x, Dec 2023 11.3x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold OC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Harry Burn | Sound Shore | 2.86% | $92.9M | Reduced -1.3% |
| Christopher Davis | Davis Advisors | 1.42% | $331M | Reduced -0.9% |
| Bill Nygren | Oakmark Funds | 0.23% | $174M | Added +19.7% |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Wells Fargo | Target lowered | Overweight | $150 → $125 |
| 2026-10-12 | Goldman Sachs | Target lowered | Neutral | $169 → $128 |
| 2026-10-08 | Truist Securities | Target lowered | Hold | $140 → $115 |
| 2026-10-07 | RBC Capital | Downgrade | Outperform → Sector Perform | $172 → $127 |
| 2026-10-06 | Barclays | Target lowered | Overweight | $177 → $162 |
| 2026-10-01 | Evercore ISI Group | Target lowered | Outperform | $194 → $185 |
| 2026-09-11 | Wells Fargo | Target lowered | Overweight | $172 → $150 |
| 2026-08-25 | DA Davidson | Initiated | Buy | $190 |
| 2026-08-07 | Citigroup | Target raised | Buy | $149 → $177 |
| 2026-08-06 | Truist Securities | Target raised | Hold | $125 → $140 |
| 2026-08-06 | Evercore ISI Group | Target raised | Outperform | $193 → $194 |
| 2026-08-06 | Barclays | Target raised | Overweight | $170 → $177 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -7.0% | +42.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -7.0% | +7.4% |
| Volatility (annualized) | 41.5% | 34.9% |
| Max drawdown | -30.3% (Aug 2026→Oct 2026) | -49.7% (Nov 2024→Mar 2026) |

## Peers (Building Products & Equipment)
WMS (Advanced Drainage Systems, Inc.) USD 130.92 +0.71% · SPXC (SPX Technologies, Inc.) USD 160.01 -4.83% · MAIR (Madison Air Solutions Corporati) USD 23.08 -0.60% · AWI (Armstrong World Industries Inc) USD 171.39 +1.57% · LII (Lennox International, Inc.) USD 378.72 +3.37% · BLDR (Builders FirstSource, Inc.) USD 57.54 +7.53%

## More
Full page: https://nexqual.com/OC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in OC's own 10-K filed 2026-02-25 (https://www.sec.gov/Archives/edgar/data/1370946/000137094626000067/oc-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Corning (GLW) | "Our CIO is responsible for our information security organization, which is comprised of internal Owens Corning employees and external security suppliers." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Roofing | $1.31B | 47.6% | +0.8% |
| Insulation | $971.0M | 35.2% | +4.0% |
| Doors | $513.0M | 18.6% | -7.4% |
| Total revenue | $2.76B | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $2.45B | 89.0% | -0.1% |
| Europe | $335.0M | 12.2% | +14.3% |
| Rest of World | $9.0M | 0.3% | +12.5% |
| Asia Pacific | $1.0M | 0.0% | -97.2% |
| Total revenue | $2.76B | 100% | — |

## Company outlook (8-K filed 2026-08-05)

- "Revenue is expected to be approximately $2.6 billion to $2.7 billion, slightly below the prior year."
- "The company expects to generate enterprise adjusted EBITDA margin of approximately 20% to 22%."
- "Current 2026 Financial Outlook General Corporate EBITDA Expenses $245 million to $255 million Interest Expense $255 million to $265 million Effective Tax Rate on Adjusted Earnings 24% to 26%* Capital Additions Approximately $800 million Depreciation and Amortization Approximately $680 million * Cash taxes are anticipated to be lower."

Analysts expect $2.62B for the current quarter, -1.1% vs the guidance midpoint $2.65B. Source: https://www.sec.gov/Archives/edgar/data/1370946/000137094626000175/q22026exh-991pressrelease.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $3.05 | $3.35 | -8.9% | $2.62B | 18 |
| Next quarter (ends 2026-12-31) | $1.37 | $1.82 | -25.0% | $2.23B | 18 |
| Current fiscal year (ends 2026-12-31) | $9.59 | $9.46 | +1.4% | $9.88B | 19 |
| Next fiscal year (ends 2027-12-31) | $10.91 | $11.78 | -7.4% | $10.14B | 19 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±10.6%; last 8 reports averaged ±4.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 47.2% | ±10.6% |
| 2026-12-18 | 56 | 44.6% | ±13.9% |
| 2027-02-19 | 119 | 40.7% | ±18.4% |
| 2027-05-21 | 210 | 39.2% | ±23.2% |