Forensic Analysis · General / Diversified · as of Jun 27, 2026
Owens Corning (OC)
A forensic read on Owens Corning built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Grey Zone
Financial health
2.1
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-12.5%
ROE
$10.9B
Market cap
2.54%
Dividend yield
Owens Corning earns a B (Sound & dependable) forensic quality grade, and its Altman Z-score is 2.1, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
2%Return on invested capital.Return on invested capital is 2% and slipping from 17% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
$2.1BGoodwill impairments.Took $2.1B of goodwill writedowns across 2 year(s) (FY2020 ($944M), FY2025 ($1.1B)) — about 66% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.
109% of FCFShareholder returns.Returned $1.0B to shareholders (buybacks + dividends) in FY2025 — 109% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet.
Key fundamentals
Net Margin-5.2%
Debt / Equity1.23x
Free Cash Flow$962.0M
Latest Revenue$10.10B
Return on Equity-13.5%
Revenue Growth YoY+2.6%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Owens Corning:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about OC's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown