Louisiana-Pacific (LPX) financial statements
Louisiana-Pacific reported revenue of $2.7B in fiscal 2025, up 2.2% a year over 9 years.
Net income was $146M and the operating margin 7.7%, against 9.4% in 2016.
Free cash flow was $91M, and the company returned $78M in dividends and $61M in net buybacks.
The diluted share count fell 52% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Louisiana-Pacific's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.2B | $2.7B | $2.8B | $2.3B | $2.4B | $3.9B | $3.9B | $2.6B | $2.9B | $2.7B |
| Cost of revenue | $1.8B | $2.0B | $2.1B | $2.0B | $1.6B | $2.0B | $2.4B | $2.0B | $2.1B | $2.1B |
| Gross profit | $404M | $736M | $744M | $303M | $833M | $2.0B | $1.5B | $593M | $832M | $589M |
| Selling, general and admin | $185M | $191M | $209M | $230M | $195M | $223M | $264M | $257M | $291M | $329M |
| Operating income | $210M | $533M | $526M | -$20M | $615M | $1.7B | $1.2B | $287M | $530M | $209M |
| Interest expense | $32M | $19M | $16M | $18M | $17M | $15M | $14M | $14M | $14M | $15M |
| Pre-tax income | $165M | $510M | $524M | -$23M | $604M | $1.7B | $1.2B | $248M | $547M | $195M |
| Income tax | $20M | $119M | $122M | -$13M | $121M | $402M | $274M | $74M | $140M | $50M |
| Net income | $150M | $390M | $395M | -$5M | $499M | $1.4B | $1.1B | $178M | $420M | $146M |
| EPS (diluted) | $1.03 | $2.66 | $2.73 | -$0.04 | $4.46 | $14.09 | $13.87 | $2.46 | $5.89 | $2.08 |
| Diluted shares | 145M | 146M | 144M | 123M | 112M | 98M | 78M | 72M | 71M | 70M |
| Gross margin | 18.1% | 26.9% | 26.3% | 13.1% | 34.7% | 50.1% | 38.9% | 23.0% | 28.3% | 21.8% |
| Operating margin | 9.4% | 19.5% | 18.6% | -0.9% | 25.6% | 44.3% | 32.4% | 11.1% | 18.0% | 7.7% |
| Net margin | 6.7% | 14.3% | 14.0% | -0.2% | 20.8% | 35.2% | 28.2% | 6.9% | 14.3% | 5.4% |
Balance sheet
Fiscal years, from Louisiana-Pacific's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $659M | $928M | $878M | $181M | $535M | $358M | $369M | $222M | $340M | $292M |
| Receivables | $108M | $142M | $128M | $164M | $184M | $169M | $127M | $155M | $131M | $127M |
| Inventory | $235M | $259M | $273M | $265M | $259M | $278M | $337M | $378M | $357M | $363M |
| Total current assets | $1.0B | $1.4B | $1.3B | $619M | $993M | $890M | $854M | $778M | $855M | $809M |
| Property, plant and equipment | $891M | $926M | $1.0B | $965M | $918M | $1.0B | $1.3B | $1.5B | $1.6B | $1.7B |
| Goodwill | $10M | $27M | $16M | $30M | $25M | $19M | $19M | $19M | $19M | $19M |
| Total assets | $2.0B | $2.4B | $2.5B | $1.8B | $2.1B | $2.2B | $2.4B | $2.4B | $2.6B | $2.6B |
| Total current liabilities | $229M | $270M | $262M | $244M | $286M | $351M | $336M | $259M | $299M | $291M |
| Long-term debt | $374M | $351M | $347M | $348M | $348M | $346M | $346M | $347M | $348M | $348M |
| Total liabilities | $836M | $844M | $814M | $834M | $842M | $955M | $916M | $880M | $885M | $896M |
| Shareholders' equity | $1.2B | $1.6B | $1.7B | $991M | $1.2B | $1.2B | $1.4B | $1.6B | $1.7B | $1.7B |
| Net debt | -$282M | -$552M | -$526M | $167M | -$187M | -$12M | -$23M | $125M | $8M | $56M |
Cash flow
Fiscal years, from Louisiana-Pacific's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $342M | $474M | $511M | $159M | $659M | $1.5B | $1.1B | $316M | $605M | $382M |
| Capital spending | $125M | $149M | $214M | $163M | $71M | $254M | $414M | $300M | $183M | $291M |
| Free cash flow | $218M | $325M | $297M | -$4M | $588M | $1.2B | $730M | $16M | $422M | $91M |
| Stock-based compensation | $13M | $10M | $9M | — | — | — | — | $13M | $20M | $30M |
| Dividends paid | $0 | $0 | $74M | $65M | $65M | $66M | $69M | $69M | $74M | $78M |
| Share buybacks (net) | $0 | $0 | -$212M | -$638M | -$200M | -$1.3B | -$900M | $0 | -$212M | -$61M |
| Net borrowing | -$392M | -$3M | -$25M | -$5M | -$350M | -$359M | $0 | -$80M | $0 | $0 |
| Free cash flow margin | 9.7% | 11.9% | 10.5% | -0.2% | 24.5% | 31.4% | 18.9% | 0.6% | 14.3% | 3.4% |
| Dividends per share | — | — | $0.51 | $0.53 | $0.58 | $0.67 | $0.88 | $0.96 | $1.04 | $1.11 |
Questions
What was Louisiana-Pacific's revenue in 2025?
$2.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Louisiana-Pacific generate?
$91M in fiscal 2025 (operating cash flow minus capital spending).
From Louisiana-Pacific's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.