Latest Ratios: P/E Ratio -19.6x · EV/EBITDA 6.7x · ROE -11.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.9B | $9.3B | $15.0B | $13.5B | $8.3B | $9.4B | $8.2B | $7.2B | $4.9B | $10.4B | $6.0B |
| Enterprise Value | $15.7B | $15.1B | $20.2B | $15.1B | $10.5B | $11.6B | $10.8B | $10.2B | $8.2B | $12.6B | $7.9B |
| P/E Ratio → | -19.63 | — | 23.14 | 11.28 | 6.72 | 9.49 | — | 17.70 | 8.99 | 36.05 | 15.12 |
| P/S Ratio | 0.98 | 0.92 | 1.36 | 1.39 | 0.85 | 1.11 | 1.17 | 1.00 | 0.69 | 1.63 | 1.05 |
| P/B Ratio | 2.63 | 2.40 | 2.92 | 2.59 | 1.80 | 2.18 | 2.09 | 1.53 | 1.13 | 2.48 | 1.53 |
| P/FCF | 10.29 | 9.71 | 12.03 | 11.31 | 6.34 | 8.68 | 9.94 | 12.15 | 18.42 | 15.33 | 10.44 |
| P/OCF | 5.54 | 5.23 | 7.91 | 7.85 | 4.74 | 6.28 | 7.25 | 6.91 | 6.10 | 10.24 | 6.31 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.50 | 1.84 | 1.57 | 1.07 | 1.36 | 1.53 | 1.42 | 1.16 | 1.97 | 1.40 |
| EV / EBITDA | 6.73 | 6.49 | 7.41 | 6.35 | 4.58 | 6.32 | 7.98 | 7.89 | 6.29 | 9.94 | 7.19 |
| EV / EBIT | 9.13 | 41.94 | 17.95 | 9.09 | 6.56 | 8.03 | — | 13.88 | 9.82 | 18.88 | 11.39 |
| EV / FCF | — | 15.74 | 16.25 | 12.70 | 7.96 | 10.67 | 13.03 | 17.27 | 30.76 | 18.51 | 13.93 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.5% | 28.5% | 30.0% | 29.3% | 27.8% | 26.1% | 23.3% | 22.7% | 23.4% | 25.0% | 25.0% |
| Operating Margin | 17.0% | 17.0% | 19.2% | 19.5% | 18.5% | 16.1% | 12.7% | 11.8% | 12.3% | 14.0% | 13.4% |
| Net Profit Margin | -5.2% | -5.2% | 5.9% | 12.4% | 12.7% | 11.7% | -5.4% | 5.7% | 7.7% | 4.5% | 6.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -11.6% | -11.6% | 12.5% | 24.3% | 27.7% | 24.0% | -8.9% | 9.0% | 12.8% | 7.1% | 10.3% |
| ROA | -3.9% | -3.9% | 5.1% | 10.9% | 12.0% | 10.2% | -3.9% | 4.1% | 5.9% | 3.5% | 5.2% |
| ROIC | 12.9% | 12.9% | 18.3% | 20.8% | 20.5% | 15.8% | 9.5% | 8.3% | 9.3% | 10.9% | 10.0% |
| ROCE | 15.6% | 15.6% | 20.4% | 21.5% | 21.3% | 16.7% | 10.7% | 9.8% | 10.9% | 12.7% | 11.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.58 | 1.58 | 1.10 | 0.63 | 0.70 | 0.72 | 0.83 | 0.68 | 0.78 | 0.57 | 0.54 |
| Debt / EBITDA | 2.64 | 2.64 | 2.06 | 1.37 | 1.41 | 1.70 | 2.43 | 2.47 | 2.59 | 1.91 | 1.90 |
| Net Debt / Equity | — | 1.49 | 1.03 | 0.32 | 0.46 | 0.50 | 0.65 | 0.65 | 0.76 | 0.51 | 0.51 |
| Net Debt / EBITDA | 2.49 | 2.49 | 1.93 | 0.70 | 0.93 | 1.18 | 1.90 | 2.34 | 2.53 | 1.71 | 1.80 |
| Debt / FCF | — | 6.03 | 4.22 | 1.39 | 1.62 | 1.99 | 3.10 | 5.12 | 12.35 | 3.19 | 3.49 |
| Interest Coverage | 1.41 | 1.41 | 5.32 | 21.93 | 14.62 | 11.46 | -0.88 | 5.60 | 7.12 | 6.22 | 6.45 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.26 | 1.26 | 1.47 | 1.69 | 1.69 | 1.82 | 1.81 | 1.55 | 1.58 | 1.55 | 1.65 |
| Quick Ratio | 0.70 | 0.70 | 0.78 | 1.17 | 1.06 | 1.19 | 1.22 | 0.77 | 0.74 | 0.89 | 0.91 |
| Cash Ratio | 0.13 | 0.13 | 0.16 | 0.69 | 0.52 | 0.57 | 0.50 | 0.13 | 0.06 | 0.19 | 0.12 |
| Asset Turnover | — | 0.78 | 0.78 | 0.86 | 0.91 | 0.85 | 0.74 | 0.72 | 0.72 | 0.74 | 0.73 |
| Inventory Turnover | 4.90 | 4.90 | 4.84 | 5.71 | 5.29 | 5.83 | 6.33 | 5.36 | 5.04 | 5.70 | 5.99 |
| Days Sales Outstanding | — | 33.85 | 41.37 | 37.23 | 35.94 | 40.33 | 47.55 | 39.25 | 41.07 | 46.08 | 43.59 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 2.5% | 1.4% | 1.4% | 1.6% | 1.1% | 1.3% | 1.3% | 1.9% | 0.9% | 1.4% |
| Payout Ratio | — | — | 32.1% | 15.7% | 11.0% | 10.9% | — | 23.5% | 16.9% | 30.8% | 20.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 4.3% | 8.9% | 14.9% | 10.5% | — | 5.7% | 11.1% | 2.8% | 6.6% |
| FCF Yield | 9.7% | 10.3% | 8.3% | 8.8% | 15.8% | 11.5% | 10.1% | 8.2% | 5.4% | 6.5% | 9.6% |
| Buyback Yield | 8.2% | 8.7% | 3.3% | 4.9% | 9.5% | 6.0% | 3.9% | 0.9% | 4.8% | 1.5% | 4.2% |
| Total Shareholder Yield | 10.5% | 11.2% | 4.7% | 6.3% | 11.2% | 7.2% | 5.1% | 2.2% | 6.7% | 2.4% | 5.5% |
| Shares Outstanding | — | $83M | $88M | $91M | $98M | $104M | $109M | $110M | $111M | $113M | $115M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying OC stock.
Owens Corning's current P/E ratio is -19.6x. The historical average is 18.9x.
Owens Corning's current EV/EBITDA is 6.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.7x.
Owens Corning's return on equity (ROE) is -11.6%. The historical average is 7.1%.
Based on historical data, Owens Corning is trading at a P/E of -19.6x. Compare with industry peers and growth rates for a complete picture.
Owens Corning's current dividend yield is 2.26%.
Owens Corning has 28.5% gross margin and 17.0% operating margin. Operating margin between 10-20% is typical for established companies.
Owens Corning's Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Leverage and asset writedowns
Metrics are mathematically derived from official filings.
Margin Compression and Earnings Volatility
Gross margin fell from 32.9% in 2024Q2 to 28.8% in 2026Q2, per reported financials, while net margin swung from 14.8% to -18.4% over the same period, indicating significant earnings instability.
The 410 basis point gross margin decline suggests input cost inflation or weaker pricing power, consistent with prior income statement findings. Operating margin volatility, including a -12.2% quarter in 2025Q3, points to negative operating leverage during demand downturns. Net margin swings are heavily influenced by non-recurring charges, as evidenced by the -$494M net loss in 2025Q3, so core profitability is better assessed through gross and operating margins excluding one-time items.
Return on Capital Decay
ROIC has fallen from 4.5% in 2024Q2 to 3.9% in 2026Q2, per reported data, while ROE swung from 5.7% to -10.2% in 2025Q3, indicating deteriorating capital efficiency.
The decline in ROIC is driven by margin compression and a surge in fixed assets, with PPE net jumping from $4.0B to $8.3B over the period, per balance sheet analysis. This suggests that recent capital expenditures have not yet generated proportional returns, and the company may be in an expansionary phase with delayed payback. Investors should monitor whether the elevated capex translates into improved asset turnover and margins, as current trends indicate a decaying return on invested capital.
Working Capital Efficiency Strained
Cash conversion cycle lengthened from 54 days in 2024Q1 to 55 days in 2026Q2, per reported figures, with DIO rising from 79 to 68 days, indicating inventory buildup and slower cash conversion.
The slight CCC extension masks significant volatility, with DIO peaking at 82 days in 2025Q4, suggesting inventory management challenges amid demand fluctuations. DSO has remained relatively stable around 47-56 days, while DPO has declined from 79 to 61 days, indicating reduced supplier leverage. This combination suggests that working capital is absorbing cash, contributing to the negative FCF margin of -6.8% in 2026Q2, and may indicate a need for tighter inventory control.
Leverage Elevated Amid Equity Erosion
Debt-to-equity rose from 0.63 in 2024Q1 to 1.50 in 2026Q2, per financial statements, while interest coverage fell from 23.5x to 6.99x, indicating thinner debt service comfort.
The rising D/E is driven by equity contraction, as retained earnings fell from $5.5B to $4.5B and total equity dropped to $3.8B, per balance sheet analysis. D/EBITDA spiked to 19.06x in 2025Q4, though it improved to 8.72x by 2026Q2, reflecting EBITDA volatility. Interest coverage of 6.99x remains adequate but is down sharply from 23.5x, and the negative interest coverage in 2025Q4 (-3.5x) highlights the risk of earnings shocks. The company's ability to service debt is becoming less comfortable, and refinancing risk may increase if earnings remain volatile.
Liquidity Buffer Thins
Current ratio fell from 1.76 in 2024Q1 to 1.16 in 2026Q2, per reported data, while cash dropped from $1.2B to $271M, indicating a shrinking liquidity cushion.
The quick ratio of 0.67 in 2026Q2 suggests that inventory is a significant component of current assets, and under stress, the company may struggle to meet short-term obligations without relying on inventory liquidation. The decline in cash reserves, combined with negative FCF in recent quarters, indicates reduced financial flexibility. However, the company continues to pay dividends and repurchase shares, which may further strain liquidity if cash generation does not improve.
Misapplied EV/EBITDA Multiple
EV/EBITDA of 7.79x appears low, but EBITDA is distorted by non-recurring charges and impairments, per reported figures, making the multiple misleading for valuation.
The trailing EV/EBITDA is artificially depressed by EBITDA swings, including negative EBITDA in 2025Q3 and 2025Q4, which distorts the multiple. Investors should instead use forward EV/EBITDA of 9.97x or normalize EBITDA by excluding one-time items, as the prior income statement analysis highlighted significant non-recurring charges. Additionally, the company's high capital intensity and negative FCF margins suggest that EV/EBITDA overstates cash generation; a more appropriate metric would be EV/FCF or EV/EBIT, which better capture the true earnings power.