Lennox International vs Owens Corning
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The short version
- Owens Corning is the larger business, with $10.1B of revenue in fiscal 2025 against $5.2B for Lennox International, about 1.9 times as much.
- Owens Corning grew revenue faster (2.6%, against −2.7%).
- Lennox International kept more of each dollar of sales as operating profit (20.1% operating margin, against 3.6%).
- Lennox International turned more of its sales into free cash flow (12.3% FCF margin, against 9.5%).
- Lennox International earned a higher return on the capital invested in it (40.1%, against 1.9%).
| Latest fiscal year | LII · FY25 | OC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.2B | $9.2B |
| Revenue | $5.2B | $10.1B |
| Free cash flow | $639M | $962M |
| Net income | $806M | −$522M |
| Growth | ||
| Revenue growth | −2.7% | 2.6% |
| 5-year growth | 7.4% | 7.5% |
| Share count change | −1.1% | −4.3% |
| Profitability | ||
| Gross margin | 33.4% | 28.1% |
| Operating margin | 20.1% | 3.6% |
| Net margin | 15.5% | −5.2% |
| FCF margin | 12.3% | 9.5% |
| Return on capital | 40.1% | 1.9% |
| Return on equity | 75.8% | −11.7% |
| Balance sheet | ||
| Net debt | $1.4B | $4.8B |
| Net debt / EBITDA | 1.2x | 4.6x |
| Dividends and buybacks | $655M | $1.0B |
| Valuation & quality | ||
| P/E | 16.7x | — |
| Piotroski F-score | 5 | 4 |
Revenue
FY16
LII $3.6B
OC $5.7B
FY17
LII $3.8B
OC $6.4B
FY18
LII $3.9B
OC $7.1B
FY19
LII $3.8B
OC $7.2B
FY20
LII $3.6B
OC $7.1B
FY21
LII $4.2B
OC $8.5B
FY22
LII $4.7B
OC $9.8B
FY23
LII $5.0B
OC $8.4B
FY24
LII $5.3B
OC $9.9B
FY25
LII $5.2B
OC $10.1B
LII
OC
Operating margin
FY16
LII 11.8%
OC 12.3%
FY17
LII 12.9%
OC 12.5%
FY18
LII 13.1%
OC 11.4%
FY19
LII 17.3%
OC 11.0%
FY20
LII 13.2%
OC −2.0%
FY21
LII 14.1%
OC 16.9%
FY22
LII 13.9%
OC 17.6%
FY23
LII 15.9%
OC 19.6%
FY24
LII 19.5%
OC 15.0%
FY25
LII 20.1%
OC 3.6%
LII
OC
Free cash flow
FY16
LII $290M
OC $570M
FY17
LII $227M
OC $679M
FY18
LII $400M
OC $266M
FY19
LII $291M
OC $590M
FY20
LII $534M
OC $828M
FY21
LII $409M
OC $1.1B
FY22
LII $201M
OC $1.3B
FY23
LII $486M
OC $1.2B
FY24
LII $782M
OC $1.2B
FY25
LII $639M
OC $962M
LII
OC
Return on capital
FY16
LII 35.8%
OC 8.3%
FY17
LII 35.5%
OC 6.8%
FY18
LII 42.9%
OC 9.0%
FY19
LII 58.6%
OC 7.1%
FY20
LII 42.8%
OC −1.6%
FY21
LII 55.4%
OC 16.8%
FY22
LII 48.3%
OC 20.1%
FY23
LII 43.8%
OC 18.2%
FY24
LII 50.9%
OC 12.9%
FY25
LII 40.1%
OC 1.9%
LII
OC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.