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Lumber & wood production · Basic Materials · Fiscal year ends Dec 31
Louisiana-Pacific reported revenue of $2.7B in the fiscal year ended Dec 2025, down 7.9% from the year before. Operating income was $209M, an operating margin of 7.7%, and net income was $146M. Operating cash flow of $382M less capital expenditure of $291M left free cash flow of $91M. Net debt was $56M.
Ranks among the 5 lumber & wood production companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 3,915 | 3,854 | 2,581 | 2,941 | 2,708 |
| Cost of revenue | 1,952 | 2,355 | 1,988 | 2,110 | 2,119 |
| Gross profit | 1,963 | 1,498 | 593 | 832 | 589 |
| Selling, general & admin | 223 | 264 | 257 | 291 | 329 |
| Operating income | 1,734 | 1,250 | 287 | 530 | 209 |
| Net interest incomeBanks | −14.0 | −11.0 | −14.0 | −14.0 | – |
| Interest expense | 15.0 | 14.0 | 17.0 | 14.0 | 17.0 |
| Pre-tax income | 1,704 | 1,159 | 252 | 560 | 196 |
| Income tax | 402 | 274 | 74.0 | 140 | 50.0 |
| Net income | 1,377 | 1,086 | 178 | 420 | 146 |
| Diluted EPS | 14.09 | 13.87 | 2.46 | 5.89 | 2.08 |
| Diluted shares | 98.0 | 78.0 | 72.0 | 71.0 | 70.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 358 | 369 | 222 | 340 | 292 |
| Receivables | 169 | 127 | 155 | 131 | 127 |
| Inventory | 278 | 337 | 378 | 357 | 363 |
| Current assets | 890 | 854 | 778 | 855 | 809 |
| Net PP&E | 1,039 | 1,326 | 1,540 | 1,579 | 1,709 |
| Goodwill | 19.0 | 19.0 | 19.0 | 19.0 | 19.0 |
| Total assets | 2,194 | 2,350 | 2,437 | 2,556 | 2,627 |
| Payables | 304 | 317 | 254 | 139 | 129 |
| Current liabilities | 351 | 336 | 259 | 299 | 291 |
| Short-term debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Long-term debt | 346 | 346 | 347 | 348 | 348 |
| Total liabilities | 955 | 916 | 880 | 885 | 896 |
| Shareholders' equity | 1,235 | 1,433 | 1,557 | 1,671 | 1,731 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 1,484 | 1,144 | 316 | 605 | 382 |
| Capital expenditure | 254 | 414 | 300 | 183 | 291 |
| Free cash flow | 1,230 | 730 | 16.0 | 422 | 91.0 |
| Depreciation & amortisation | 114 | 129 | 119 | 123 | 138 |
| Stock-based compensation | – | – | 13.0 | 20.0 | 30.0 |
| Acquisitions | 0.0 | – | – | – | – |
| Share buybacks | 1,300 | 900 | 0.0 | 212 | 61.0 |
| Dividends paid | 66.0 | 69.0 | 69.0 | 74.0 | 78.0 |
| Dividend per share | – | 0.22 | 0.24 | 0.26 | 0.28 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −1.6% | −33.0% | 13.9% | −7.9% |
| Operating income growth (YoY) | – | −27.9% | −77.0% | 84.7% | −60.6% |
| EPS growth (YoY) | – | −1.6% | −82.3% | 139.4% | −64.7% |
| Gross margin | 50.1% | 38.9% | 23.0% | 28.3% | 21.8% |
| Operating margin | 44.3% | 32.4% | 11.1% | 18.0% | 7.7% |
| Net margin | 35.2% | 28.2% | 6.9% | 14.3% | 5.4% |
| Return on equityBlank when equity is negative | 111.5% | 75.8% | 11.4% | 25.1% | 8.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 94.1% | 62.1% | 13.2% | 23.5% | 8.9% |
| Free cash flow margin | 31.4% | 18.9% | 0.6% | 14.3% | 3.4% |
| Cash conversion (CFO ÷ net income) | 1.08x | 1.05x | 1.78x | 1.44x | 2.62x |
| Receivable days | 16 | 12 | 22 | 16 | 17 |
| Inventory days | 52 | 52 | 69 | 62 | 63 |
| Payable days | 57 | 49 | 47 | 24 | 22 |
| Interest cover | 116x | 89.3x | 16.9x | 37.9x | 12.3x |
| Debt ÷ equity | 0.28x | 0.24x | 0.22x | 0.21x | 0.20x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −12.0 | −23.0 | 125 | 8.0 | 56.0 |
| Current ratio | 2.54x | 2.54x | 3.00x | 2.86x | 2.78x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.