The business behind the dividend
| Measure | LPX | Median | Formula |
|---|---|---|---|
| Return on equity | 8.4% | 11.7% | Net income ÷ shareholders’ equity |
| Return on capital employed | 10.1% | 10.1% | Operating income ÷ (equity + total debt) |
| Owner earnings | $-7.00m | $632.00m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $91.00m | $746.10m | Operating cash flow − capital expenditure |
| Operating margin | 7.7% | 15.0% | Operating income ÷ revenue |
| Net margin | 5.4% | 10.2% | Net income ÷ revenue |
| Debt to equity | 0.20x | 0.79x | Total debt ÷ shareholders’ equity |
| Interest cover | 12.29x | 4.43x | Operating income ÷ interest expense |
| Current ratio | 2.78x | 1.25x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 0.67x | 2.30x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 2.62x | 1.78x | Operating cash flow ÷ net income |
Ten years of it
The same measures, for every year the filings support. One year is a fact; a row is a business.
| Measure | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | 8.4% | 25.1% | 11.4% | 75.8% | 111.5% | 40.4% | -0.5% | 23.2% | 24.3% | 12.5% | 23.2% |
| Return on capital employed | 10.1% | 26.3% | 15.1% | 70.3% | 109.7% | 38.9% | -1.5% | 25.6% | 26.9% | 13.4% | 25.6% |
| Operating margin | 7.7% | 18.0% | 11.1% | 32.4% | 44.3% | 25.6% | -0.9% | 18.6% | 19.5% | 9.4% | 18.0% |
| Net margin | 5.4% | 14.3% | 6.9% | 28.2% | 35.2% | 20.8% | -0.2% | 14.0% | 14.3% | 6.7% | 14.0% |
| Debt to equity | 0.20x | 0.21x | 0.22x | 0.24x | 0.28x | 0.28x | 0.35x | 0.21x | 0.23x | 0.32x | 0.23x |
| Current ratio | 2.78x | 2.86x | 3.00x | 2.54x | 2.54x | 3.47x | 2.54x | 4.91x | 5.03x | 4.41x | 2.86x |
| Cash conversion | 2.62x | 1.44x | 1.78x | 1.05x | 1.08x | 1.32x | — | 1.29x | 1.22x | 2.29x | 1.32x |
How it compares in materials
Among the 35 materials companies here measured on free cash flow, Louisiana-Pacific pays out less than 7 of them. The median for that group is 40.8%, against this company’s 85.7%.
Closest on free cash flow
- Corning (GLW) 70.7%
- Luda Technology Group (LUD) 77.1%
- Freeport-Mcmoran (FCX) 77.5%
- Eastman Chemical (EMN) 89.9%
Same sector and same denominator, so the figures are comparable. All 47 in materials →