Owens Corning has reported net margins of 12.9% over the past 4 quarters, up from 10.0% a year ago. This margin expansion has driven a 9.0% increase in net income over the same period, despite revenue growth of only 5.6%. The data shows Owens Corning's return on invested capital (ROIC) has also improved from 14.5% to 15.4% over the past year. This indicates the company is allocating capital more efficiently and generating higher returns on its operations and investments. These trends are underpinned by strong demand for insulation and roofing products, with revenue growing 7.1% and 4.2% year-over-year in those respective segments. The company has been able to pass through price increases to customers, expanding its pricing power. Additionally, Owens Corning has generated $1.5B in free cash flow over the last 4 quarters, up 12.1% from the prior period. This gives the company flexibility to invest in growth initiatives, reduce debt, or return capital to shareholders. Overall, the data indicates Owens Corning is executing well operationally, with structural margin and returns improvements that should support further stock price appreciation. I have a bullish conviction of 7/10 on this name.

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