Owens Corning reported $17.6B in revenue and $1.4B in net income for the latest 12-month period. The company has demonstrated impressive earnings growth, with net income increasing 44.5% year-over-year. Owens Corning's net margin has expanded from 6.9% to 8.0% over the past four quarters, reflecting its ability to maintain pricing power and control costs. Owens Corning's strong pricing execution and operational efficiency have enabled it to expand its profitability, even in a challenging macroeconomic environment. The company has also made significant progress in reducing its debt burden, with the debt-to-equity ratio declining from 1.4 to 1.2 over the past year. This deleveraging improves Owens Corning's financial flexibility and reduces its exposure to rising interest rates. Given Owens Corning's earnings growth trajectory, expanding margins, and strengthening balance sheet, I see the potential for the stock to reach $108 (16% upside from the current $93.11) over the next 6 months. The company currently trades at 11.2x forward earnings, which is below its 5-year average of 13.4x, suggesting the stock is reasonably valued relative to its earnings potential.

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