LII vs OC: Lennox International and Owens Corning compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Lennox International is the larger company, worth $11.8B, about 1.3 times Owens Corning.
- Lennox International grew revenue faster over the last year (+5.8% vs +0.3%).
- Lennox International keeps more of each dollar of revenue as operating profit (19.7% vs 0.5%).
- Lennox International's price assumes faster free cash flow growth: about 4% a year, against -5% for Owens Corning (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | LII | OC |
|---|---|---|
| Market cap | $11.8B | $8.8B |
| Share price | $356.44 | $114.16 |
| Revenue (last fiscal year) | $5.2B | $10.1B |
| Free cash flow (last fiscal year) | $639M | $962M |
| Revenue growth, last year | +5.8% | +0.3% |
| Revenue growth per year, last 5 fiscal years | +5.5% | +4.4% |
| Operating margin | 19.7% | 0.51% |
| Net margin | 15.1% | -6.8% |
| Return on equity | 65.4% | -17.8% |
| P/E (trailing) | 15.8x | — |
| Price / free cash flow | 18.5x | 9.15x |
| EV / EBITDA | 13.1x | 12.7x |
| FCF growth the price implies | 4.0% | -5.4% |
| Dividend yield | 1.5% | 2.8% |
| Debt / equity | 2.54x | 2.36x |
| Fundamental grade | C | D |
| Superinvestors holding it | 3 | 0 |
| Insider purchases, last 12 months | 0 | 9 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Lennox International
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.2B | $409M | 14.1% |
| 2022 | $4.7B | $201M | 13.9% |
| 2023 | $5.0B | $486M | 15.9% |
| 2024 | $5.3B | $782M | 19.5% |
| 2025 | $5.2B | $639M | 20.0% |
Owens Corning
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $8.5B | $1.1B | 16.9% |
| 2022 | $9.8B | $1.3B | 17.6% |
| 2023 | $8.4B | $1.2B | 19.6% |
| 2024 | $9.9B | $1.2B | 15.0% |
| 2025 | $10.1B | $962M | 3.6% |
Where the revenue comes from
Lennox International · by segments, 2025
Residential Heating and Cooling$3.3B64%
Commercial Heating and Cooling$1.9B36%
Owens Corning · by segments, 2025
Roofing$4.4B43%
Insulation$3.7B36%
Doors$2.1B21%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open LII in InvestinglyQuestions
Which is bigger, Lennox International or Owens Corning?
Lennox International (LII), at $11.8B against $8.8B.
Which grows faster, LII or OC?
Lennox International: revenue grew +5.8% over the last year, against +0.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.