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Louisiana-Pacific Corp LPX

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Stock XNYS Rating as of
$91.35 +0.91 (1.01%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Louisiana-Pacific Earnings: New Residential Construction Drives Robust OSB Demand; Shares Expensive

Spencer Liberman

No-moat Louisiana-Pacific started the year on solid footing with impressive first-quarter results. Net sales soared over 24% year over year on strong performance from the oriented strand board and siding solutions businesses. While housing markets have been largely stagnant, demand for new single-family housing construction has driven robust growth for OSB and siding. We forecast single-family housing starts will grow around 4% in 2024, which should drive demand for OSB and siding, benefiting much of Louisiana-Pacific’s business. We've increased our fair value estimate to $62 per share from $54 due to higher near-term revenue and profitability in our forecast.

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Price vs Fair Value

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LPX is trading at a 238% premium.
Price
$90.42
Fair Value
$87.00
Uncertainty
High
1-Star Price
$62.10
5-Star Price
$23.30
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

A continued shift from plywood to OSB in single-family housing should provide a strong tailwind for Louisiana-Pacific’s sizable OSB business.

Bears

Louisiana-Pacific’s reliance on OSB profitability could put the firm at risk during times of economic weakness.

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News

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Trading Information

Previous Close Price
$90.44
Day Range
$90.07–91.40
52-Week Range
$49.54–92.32
Bid/Ask
$91.32 / $91.38
Market Cap
$6.55 Bil
Volume/Avg
323,056 / 1.1 Mil

Key Statistics

Price/Earnings (Normalized)
20.50
Price/Sales
2.39
Dividend Yield (Trailing)
1.08%
Dividend Yield (Forward)
1.15%
Total Yield
1.28%

Company Profile

Louisiana-Pacific is primarily an oriented strand board producer and also offers engineered wood siding used in home construction and repair and remodel projects. The company is largely exposed to the North American housing market but has also established capacity in Brazil and Chile.
Sector
Industrials
Industry
Building Products & Equipment
Stock Style Box
Small Core
Total Number of Employees
4,100
Website
https://www.lpcorp.com

Competitors

Valuation

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Metric
LPX
WY
WFG
Price/Earnings (Normalized)
 20.5032.1375.18
Price/Book Value
 4.022.260.92
Price/Sales
 2.393.001.05
Price/Cash Flow
 12.2117.0910.83
Price/Earnings
LPX
WY
WFG

Financial Strength

Metric
LPX
WY
WFG
Quick Ratio
 1.381.371.15
Current Ratio
 2.842.242.33
Interest Coverage
 18.693.91−7.04
Quick Ratio
LPX
WY
WFG

Profitability

Metric
LPX
WY
WFG
Return on Assets (Normalized)
 9.93%4.17%3.19%
Return on Equity (Normalized)
 15.83%7.02%4.16%
Return on Invested Capital (Normalized)
 12.33%5.75%3.35%
Return on Assets
LPX
WY
WFG
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