Owens Corning Inc
OC Industrials Building Products & Equipment
In the quarter to June 2026, revenue was flat, EPS fell 34.2%, free cash flow grew 61.9% and total debt was flat, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Owens Corning Inc (OC) Altman Z-score
Owens Corning Inc's Altman Z-score for fiscal 2025 is 2.04, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.04 | (0.62) |
| FY2024 | 2.65 | (0.67) |
| FY2023 | 3.32 | 0.42 |
| FY2022 | 2.89 | 0.04 |
| FY2021 | 2.86 | 0.85 |
| FY2020 | 2.00 | (0.18) |
| FY2019 | 2.19 | 0.28 |
| FY2018 | 1.91 | (0.88) |
| FY2017 | 2.79 | 0.49 |
| FY2016 | 2.29 | 0.11 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.05 | — | 0.06 | |
| Retained earnings / total assets | 0.34 | — | 0.48 | |
| EBIT / total assets | 0.03 | — | 0.09 | |
| Market value of equity / total liabilities | 1.03 | — | 0.62 | |
| Sales / total assets | 0.78 | — | 0.78 | |
| Altman Z-score | Grey zone | 2.04 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.10 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| AWI Armstrong World Industries, Inc. compare | 7.8× |
| LII Lennox International, Inc. compare | 7.5× |
| AAON AAON, Inc. compare | 6.9× |
| SPXC SPX Technologies, Inc. compare | 5.6× |
| CSL Carlisle Companies Incorporated compare | 5.1× |
| WMS Advanced Drainage Systems, Inc. compare | 4.3× |
| MAS Masco Corporation compare | 3.9× |
| BLDR Builders FirstSource, Inc. compare | 2.7× |
| OC Owens Corning Inc | 2.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets