Owens Corning (OC) FY2021 results: revenue $8.5 billion, up 20.5% on the year
Owens Corning (OC) reported revenue of $8.5 billion for fiscal 2021, the year ended 31 December 2021, up 20.5% on the year before. Net income was $995 million, and diluted earnings per share $9.54. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.
Revenue
$8.5 billion
+20.5% on the year
FY2014FY2021
Operating margin
16.9%
-2.0% a year earlier
FY2014FY2021
Net income
$995 million
FY2014FY2021
Diluted EPS
$9.54
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,503
1,135
1,037
+32.4%
Capital expenditure
416
307
447
+35.5%
Free cash flow
1,087
828
590
+31.3%
Free cash flow margin
12.8%
11.7%
8.2%
Cash from investing
-377
-205
-394
Cash from financing
-881
-358
-573
Depreciation and amortisation
502
493
457
+1.8%
Share-based compensation
50.0
41.0
39.0
+22.0%
Buybacks
570
318
61.0
+79.2%
Dividends paid
108
104
95.0
+3.8%
Dividend per share
$1.13
$0.98
$0.90
+15.3%
Diluted shares, weighted
104m
109m
110m
-4.0%
Shares outstanding at period end
100m
109m
109m
-7.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
4,296
3,901
4,631
+10.1%
Non-controlling interest
39.0
40.0
40.0
-2.5%
Redeemable equity
0.0
n/a
n/a
Short-term borrowings
6.0
1.0
20.0
+500.0%
Debt
2,985
3,145
2,993
-5.1%
Operating lease liabilities
109
99.0
138
+10.1%
Finance lease liabilities
74.0
59.0
19.0
+25.4%
Other liabilities
2,506
2,236
2,165
+12.1%
Total liabilities and equity
10,015
9,481
10,006
+5.6%
Fixed assets
3,873
3,809
3,855
+1.7%
Goodwill
990
989
1,932
+0.1%
Intangible assets
1,617
1,667
1,721
-3.0%
Cash and equivalents
959
717
172
+33.8%
Receivables
939
919
770
+2.2%
Inventory
1,078
855
1,033
+26.1%
Other assets
559
525
523
+6.5%
Total assets
10,015
9,481
10,006
+5.6%
10-K for the year ended 31 December 2021, filed 16 February 2022: the filing.