Owens Corning (OC) Stock Price & How to Invest

Owens Corning sells three things that go into houses: asphalt roofing shingles, insulation, and doors. Founded in 1938 and headquartered in Toledo, Ohio, it files with the SEC under the plain name Owens Corning, with no Inc. or Corp. attached. Roofing is the biggest and most profitable segment, at ~$1,313 million of second-quarter 2026 sales on a ~34% EBITDA margin, and most of that volume is replacement work: shingles age, storms strip them, and the homeowner reroofs whether or not housing starts are healthy. Insulation, ~$971 million in the quarter, spans fiberglass batts, loose fill, foam sheathing and European stone wool from the Paroc business, and reaches non-residential jobs as well as homes. Doors, ~$513 million, is the Masonite business bought in May 2024. On April 30, 2026 the company closed the sale of its global glass reinforcements operation, retiring the last of the old Composites segment.

The reported numbers look far worse than the operating ones, and the difference matters. Continuing operations earned ~$310 million in the second quarter on ~$2.76 billion of sales, with adjusted EPS of ~$3.93, while the trailing twelve months carry a GAAP net loss of ~$671 million because glass reinforcements sat in discontinued operations at a markdown and Doors absorbed a ~$1,135 million goodwill impairment plus a ~$39 million tradename write-down in 2025. That write-off frames the argument: Owens Corning announced Masonite at ~$3.9 billion, closed it for ~$3.2 billion, then erased most of the goodwill within eighteen months while Doors sales slipped to ~$513 million from ~$554 million. Management's answer has been cost, with ~$135 million of run-rate synergies delivered against a ~$125 million commitment. The shares change hands near ~$151 for a ~$11.9 billion market cap, about ~1.2x sales, against ~$4.9 billion of net debt and a pledge to return ~$2 billion to shareholders across 2025 and 2026.

Roofing demand is weather-dependent, so a mild storm season removes volume from the segment that generates most of the profit, and the company already warned that second-quarter distributor stocking borrows from the third quarter. Input costs are exposed on two fronts, asphalt tied to crude and refinery output for shingles and energy for glass melting furnaces, and management quantified roughly $40 million of incremental third-quarter cost from inflation tied to the Iran conflict. Doors still carries ~$367 million of goodwill and the company holds ~$1,196 million of indefinite-lived trademarks, so a further deterioration in that business could produce another non-cash write-down after the ~$1,135 million already taken. Net debt of roughly ~$4.9 billion against a ~$11.9 billion market cap leaves less cushion than the company carried before the Masonite deal. Separately, the Paroc subsidiary withdrew marine insulation products over fire safety certification nonconformances and suspended sales of certain ventilation duct and steel beam insulation products, where the 10-Q states the potential loss cannot yet be reasonably estimated.

14 analysts publish price targets on OC, averaging $175.57 against a $150.61 price as of August 2026, or +16.6%. The published targets run from $140.00 to $198.00, a moderate spread, and the ratings split 11 buy, 5 hold, 0 sell. Over the last six months there have been 12 raises and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full OC forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Owens Corning. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Roofing runs on replacement, not on housing starts. Roofing produced ~$1,313 million of second-quarter 2026 sales and ~$441 million of EBITDA, a ~34% margin that no other Owens Corning segment approaches. The most optimistic published target, $198.00, assumes this works close to its best case.

The case against. Roofing demand is weather-dependent, so a mild storm season removes volume from the segment that generates most of the profit, and the company already warned that second-quarter distributor stocking borrows from the third quarter. The most pessimistic target, $140.00, is roughly what OC is worth if this bites instead.

Read the full bull and bear case on OC, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Owens Corning's investor relations page or your broker.

• Revenue (TTM, continuing operations): ~$9.85 billion
• Q2 2026 net sales: ~$2.76 billion, roughly flat vs ~$2.75 billion
• Q2 2026 adjusted EPS (continuing ops): ~$3.93 vs ~$4.21 a year earlier
• Net loss (TTM, GAAP, incl. discontinued ops): ~-$671 million, or ~-$8.23 per share
• Market cap: ~$11.9 billion at ~$151 per share, about ~1.2x sales
• Net debt: ~$4.9 billion (~$5.1 billion debt, ~$271 million cash)

The headline loss is an accounting artifact of two decisions rather than a description of current trading: the glass reinforcements sale was carried through discontinued operations at a pre-tax loss of ~$175 million for the first half, and Doors took ~$1,135 million of goodwill impairment plus ~$39 million of tradename impairment during 2025. Continuing operations produced ~$660 million of adjusted EBITDA on a ~24% margin in the quarter. Third-quarter guidance calls for ~$2.6 billion to ~$2.7 billion of revenue at a ~20% to ~22% adjusted EBITDA margin, and the quarterly dividend annualizes to roughly ~$3.16 per share, about a ~2.1% yield at recent prices.

If you want OC exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

Other names that sit close to OC: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get OC exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (XHB, AIRR), which spreads the position across many companies. Or build it into a focused thematic portfolio, so OC sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where OC fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

OC is a high-margin roofing franchise carrying a doors acquisition that has already been written down by more than a billion dollars, priced at roughly ~1.2x sales with ~$4.9 billion of net debt.

Whether OC is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is OC a buy or a sell?, and where the stock could go from here in the OC stock forecast.

For income investors, whether OC pays a dividend and how the payout looks is covered in does OC pay a dividend? And to weigh OC against a peer, read the full side-by-side comparisons: OC vs CSL and OC vs BRK-B.