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Louisiana-Pacific

LPX on NYSE. Louisiana-pacific sells siding and oriented strand board to builders, retailers, and wholesalers. Market value $4.6bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Good business, but not cheap right now

Why it could be worth it

What to watch out for

See cheaper Industrials stocks on the list

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-0.4%low

For every $100 of what the whole company costs, it produced $-0.45 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
64.0×full

You pay 64.0 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
24.9%five-year median

Each dollar kept in the business earns 25 cents a year. Above 10 is good.

Quality score: 89 of 100. Price score: 6 of 100. Our list needs 70 on quality and 60 on price.

$66.89 a share, 8% above its 1-year low

Over the past year the price has ranged from $62.18 to $100.34.

Dividend: 1.7% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

1.2
0.7
0.0
0.4
0.1
-0.0
2021202220232024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: a shortfall of $21 million in the past 12 months, $91 million in the year to December 2025.

Revenue
$3.9bn$3.9bn$2.6bn$2.9bn$2.7bn
Operating margin
44.3%32.4%11.1%18.0%7.7%
Debt to equity
0.280.240.220.210.20
Shares outstanding
0.07bn0.07bn0.07bn0.07bn0.07bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)5 of 9
  • Profit backed by cash (accruals)Yes
  • Debt0.20× equity
  • Revenue growth, five yearsSlow, 2.5% a year
  • Buying back its own sharesYes, 2% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $664 million last quarter, down 12% on a year ago.
  • Profit: $26 million, down 52% on a year ago.
  • It keeps 3 cents of each $1 of sales as operating profit, down from 14 cents a year earlier.
  • Over the past 12 months it spent $21 million more cash than it brought in. A year earlier it had $276 million spare.
  • About the same number of shares as a year ago.
  • Debt is $120 million more than cash, up from $15 million a year ago.
  • Sales did not grow on a year ago in any of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$722m
December 2024$680m
March 2025$724m
June 2025$755m
September 2025$663m
December 2025$567m
March 2026$574m
June 2026$664m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$90m
December 2024$62m
March 2025$91m
June 2025$54m
September 2025$9m
December 2025-$8m
March 2026$27m
June 2026$26m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
17 February 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

9 long-term investors we follow own it, up from 8 last quarter. 420 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $2m of shares on the open market. 2 sold $15m, $15m of it under preset trading plans.

  • Bruce Lizanne M
    Director
    Sold
    Date
    15 June 2026
    Shares
    1,141
    Price
    $78.21
    Value
    $89,238
  • Bruce Lizanne M
    Director
    Sold
    Date
    10 March 2026
    Shares
    1,300
    Price
    $78.59
    Value
    $102,167
  • GRASBERGER F NICHOLAS III
    Director
    Bought
    Date
    19 February 2026
    Shares
    20,000
    Price
    $85.49
    Value
    $2m
  • Southern William Bradley
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    18 February 2026
    Shares
    14,166
    Price
    $87.85
    Value
    $1m
  • Southern William Bradley
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    17 February 2026
    Shares
    14,166
    Price
    $89.29
    Value
    $1m
  • Southern William Bradley
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    3 February 2026
    Shares
    21,252
    Price
    $88.19
    Value
    $2m
  • Southern William Bradley
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    2 February 2026
    Shares
    7,080
    Price
    $85.16
    Value
    $602,933
  • Southern William Bradley
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    15 January 2026
    Shares
    14,166
    Price
    $93.08
    Value
    $1m
  • Southern William Bradley
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    14 January 2026
    Shares
    55,346
    Price
    $91.66
    Value
    $5m
  • Southern William Bradley
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    16 December 2025
    Shares
    1,318
    Price
    $85.38
    Value
    $112,537

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 17 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 7 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It isn't cheap on profits: 64.0× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.