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Owens Corning OC Moodys Investors Service — Intangible assets impairment charge

Discontinued — last reported Q3 '20

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Other financials

Income statement

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Revenue$2.3B-10.5%
Gross profit$510.0M-29.7%
Operating income$120.0M-70.5%
Net income-$105.0M-12.9%
EPS (diluted)-$1.29-19.4%

Balance sheet

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Cash & equivalents$272.0M-32.0%
Total debt$5.6B-6.4%
Total equity$3.6B-25.4%
Total assets$13.1B-8.2%

Cash flow

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Operating cash flow-$154.0M-214%
CapEx$233.0M+14.8%
Free cash flow-$387.0M-53.6%

Valuation

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Market cap$10.32B-28.8%
Enterprise value$15.63B-21.2%
P/S1.1×-0.3×

Profitability

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Gross margin26.7%-3.6pp
Operating margin7.6%-9.6pp
Net margin-5.4%
FCF margin8.4%-2.4pp

Returns & leverage

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Return on equity-12.5%
Debt / equity1.5×+0.3×
Current ratio1.2×-0.2×

Where this comes from

Reported directly by Owens Corning in its filing.

Tagged under the XBRL concept us-gaap:ImpairmentOfIntangibleAssetsExcludingGoodwill.

The official record: Owens Corning’s 10-Q, filed October 27, 2021, on SEC EDGAR. View the filing →

Questions, answered.

What does moodys investors service — intangible assets impairment charge mean?
A charge recognized when the book value of specific intangible assets, like patents or brand names, exceeds their current market value.
How do you interpret moodys investors service — intangible assets impairment charge?
An increase suggests that the company's competitive advantages or intellectual property are losing value, which may negatively impact future revenue streams.
How does moodys investors service — intangible assets impairment charge compare across companies?
Similar to goodwill impairment, this is a non-recurring event for most industrial companies, though it is more common in sectors with high R&D and patent-heavy portfolios.