Owens Corning (OC) FY2022 results: revenue $9.8 billion, up 14.9% on the year
Owens Corning (OC) reported revenue of $9.8 billion for fiscal 2022, the year ended 31 December 2022, up 14.9% on the year before. Net income was $1.2 billion, up 24.7%, and diluted earnings per share $12.70. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2023.
Revenue
$9.8 billion
+14.9% on the year
FY2015FY2022
Operating margin
17.6%
16.9% a year earlier
FY2015FY2022
Net income
$1.2 billion
+24.7% on the year
FY2015FY2022
Diluted EPS
$12.70
+33.1% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,760
1,503
1,135
+17.1%
Capital expenditure
446
416
307
+7.2%
Free cash flow
1,314
1,087
828
+20.9%
Free cash flow margin
13.5%
12.8%
11.7%
Cash from investing
-623
-377
-205
Cash from financing
-974
-881
-358
Depreciation and amortisation
531
502
493
+5.8%
Share-based compensation
51.0
50.0
41.0
+2.0%
Buybacks
795
570
318
+39.5%
Dividends paid
136
108
104
+25.9%
Dividend per share
$1.57
$1.13
$0.98
+38.9%
Diluted shares, weighted
98m
104m
109m
-6.3%
Shares outstanding at period end
92m
100m
109m
-8.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
4,575
4,296
3,901
+6.5%
Non-controlling interest
21.0
39.0
40.0
-46.2%
Redeemable equity
25.0
0.0
n/a
Short-term borrowings
1.0
6.0
1.0
-83.3%
Debt
3,020
2,985
3,145
+1.2%
Operating lease liabilities
152
109
99.0
+39.4%
Finance lease liabilities
103
74.0
59.0
+39.2%
Other liabilities
2,855
2,506
2,236
+13.9%
Total liabilities and equity
10,752
10,015
9,481
+7.4%
Fixed assets
3,729
3,873
3,809
-3.7%
Goodwill
1,383
990
989
+39.7%
Intangible assets
1,602
1,617
1,667
-0.9%
Cash and equivalents
1,099
959
717
+14.6%
Receivables
961
939
919
+2.3%
Inventory
1,334
1,078
855
+23.7%
Other assets
644
559
525
+15.2%
Total assets
10,752
10,015
9,481
+7.4%
10-K for the year ended 31 December 2022, filed 15 February 2023: the filing.