Saturday 17 October 2026 Export AWI’s income statement to Excel — free account

Armstrong World Industries, Inc.

AWI Industrials Building Products & Equipment

Armstrong World Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 12.1% from fiscal 2024. In the quarter to June 2026, revenue grew 11.2%, EPS grew 12.4%, free cash flow grew 13.1% and total debt rose 1.08%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.

168.16 1.57 +0.94%

Follow AWI

Alert me

Market cap: $7.0B
P/E: 23.0×
Fwd P/E: 19.3×
Dividend yield: 0.81%
F-score: 9/9
Altman Z: 7.83
Beneish M: −2.61
Dividend safety: 85/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.10

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	1	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 2.12%

Capital & Financial Ratios $m

Market Cap 7,040.00

Revenue 1,695.40

Net Income 315.30

Free Cash Flow 247.70

Net Debt 443.60

Current Ratio 1.52

Debt/Equity 0.59

P/E ratio 23.04

Fwd P/E 19.30

P/S ratio 4.22

P/B ratio 8.08

Past 5Y EPS Growth —

This Y EPS Growth 13.79%

Next Y EPS Growth 13.59%

Next Y revenue growth 10.25%

Next 5Y EPS Growth 13.45%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 52.95%

10-year low 10-year high

P/S against its own 10 years 66.79%

10-year low 10-year high

P/B against its own 10 years 36.56%

10-year low 10-year high

EV/Sales against its own 10 years 58.61%

10-year low 10-year high

EV/FCF against its own 10 years 22.44%

10-year low 10-year high

Dividends

Payout Ratio 0.19

Annual Dividend Rate 1.36

Annual Dividend Yield 0.81%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.40	0.34 0.34 0.34
2025	1.26	0.31 0.31 0.31 0.34
2024	1.15	0.28 0.28 0.28 0.31
2023	1.04	0.25 0.25 0.25 0.28
2022	0.95	0.23 0.23 0.23 0.25
2021	0.86	0.21 0.21 0.21 0.23
2020	0.81	0.20 0.20 0.20 0.21
2019	0.73	0.18 0.18 0.18 0.20
2018	0.18	0.18
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	71	79	113	79
Receivables	112	138	130	193
Inventory	104	110	125	127
Other	26	22	24	26
	313	349	392	425

	2023	2024	2025	Q'26
Payables	160	215	237	241
ST’ Debt	23	23	10	10
Other	—	—	—	—
	195	250	267	280

Compound Annual Growth %

	10y	5y	3y
Sales	7.25%	11.59%	9.54%
Cash Flow	5.73%	10.19%	24.91%
Earnings	12.60%	0.00%	15.01%
Book Value	1.60%	14.84%	18.96%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	410	472	—	—	—
’25	383	425	425	388	1,621
’24	326	365	387	368	1,446
’23	310	325	347	312	1,295
’22	283	321	325	305	1,233
’21	252	280	292	283	1,107
’20	249	203	246	239	937

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	32	94	—	—	—
’25	41	82	123	110	356
’24	26	57	97	87	267
’23	26	68	83	57	234
’22	17	46	56	63	182
’21	20	62	56	49	187
’20	26	53	70	70	219

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	14	70	—	—	—
’25	22	62	101	62	247
’24	12	40	87	71	208
’23	4	49	64	33	150
’22	5	31	38	35	108
’21	6	45	39	18	108
’20	14	47	74	51	185

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.55	2.26	—	—	—
’25	1.58	2.01	1.98	1.51	7.08
’24	1.36	1.50	1.75	1.42	6.02
’23	1.04	1.34	1.56	1.06	4.99
’22	0.94	1.11	1.25	1.07	4.37
’21	0.74	1.14	1.06	0.88	3.82
’20	(4.71)	1.05	1.13	0.47	(2.07)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	35.92	38.45	54.34	57.38	57.96	70.83	66.86	62.03	95.24	122.37	Analyst estimates 2026–2028 Powerpack
	High	48.66	61.50	73.45	104.50	111.46	118.14	117.64	99.75	164.40	206.08
People
People	Employees	3,700	3,900	4,000	2,500	2,700	2,800	3,000	3,100	3,600	3,800
	Revenue/emp, $m	0.23	0.23	0.24	0.42	0.35	0.40	0.41	0.42	0.40	0.43
Income, $m
Income, $m	Revenue	837	894	975	1,038	937	1,107	1,233	1,295	1,446	1,621
	Gross margin, %	36.67	35.30	34.19	38.06	35.55	36.65	36.42	38.37	40.23	40.64
	EBT	151	222	243	299	(127)	243	258	298	347	400
	EBT margin, %	17.99	24.85	24.88	28.84	(13.52)	21.93	20.89	23.03	24.01	24.70
	Net income	105	120	186	215	(99)	183	203	224	265	309
	Depreciation	89	89	79	75	84	97	84	89	103	120
Per share, $
Per share, $	Revenue	15.11	16.77	19.01	21.32	19.56	23.25	26.63	28.98	33.08	37.43
	Earnings	1.88	2.89	3.61	4.32	(2.07)	3.82	4.37	4.99	6.02	7.08
	Cash flow	0.89	3.20	3.96	3.75	4.57	3.93	3.94	5.22	6.11	8.21
	Capex	(1.88)	(1.68)	(1.40)	(1.46)	(0.70)	(1.67)	(1.62)	(1.87)	(1.34)	(2.50)
	Free cash flow	(0.99)	1.51	2.56	2.29	3.86	2.26	2.32	3.35	4.77	5.71
	Book value	4.81	7.87	4.41	7.49	9.41	10.92	11.56	13.24	17.32	20.80
	Shares, m	55	53	51	49	48	48	46	45	44	43
Valuation, ×
Valuation, ×	P/E	22.47	21.28	16.04	21.50	0.00	30.40	15.91	19.52	23.44	26.99
	P/S	2.04	3.67	3.06	4.41	3.80	4.99	2.61	3.37	4.27	5.11
	P/B	8.68	7.82	13.21	12.54	7.90	10.64	6.02	7.37	8.16	9.19
	EV/Sales	2.69	4.44	3.57	4.95	4.44	5.49	3.07	3.78	4.60	5.31
	EV/FCF	(55.42)	49.18	26.51	46.16	22.48	56.53	35.19	32.74	31.95	34.81
Cash, $m
Cash, $m	Operating cash flow	49	170	203	183	219	187	182	234	267	356
	Capex	(104)	(90)	(72)	(71)	(34)	(80)	(75)	(84)	(58)	(108)
	Free cash flow	(55)	81	131	111	185	108	108	150	208	247
Balance, $m
Balance, $m	Working capital	182	379	168	89	140	112	174	119	99	124
	Total debt	874	850	820	611	734	648	674	610	558	439
	Net debt	732	691	494	566	597	550	568	539	479	327
	Shareholders’ equity	266	419	226	365	451	520	535	592	757	901
Returns, %
Returns, %	ROA	4.71	6.59	10.02	12.88	(6.17)	10.69	11.95	13.32	15.07	16.39
	ROIC	12.27	13.73	21.65	21.32	15.19	15.19	15.80	17.88	18.93	21.95
	ROE	20.23	34.88	57.62	72.60	(24.30)	37.75	38.48	39.72	39.28	37.24

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WMS Advanced Drainage Systems, Inc.	$9.7B	21.9×	21.2×	+20.63% (above 0%: growing)	+18.92% (above 0%: growing)	−8.28% (below 0%: shrinking)	40.76%	25.43%	Compare
OC Owens Corning Inc	$9.0B	— (loss-making)	13.4×	+0.33% (above 0%: growing)	−34.19% (below 0%: shrinking)	+61.87% (above 0%: growing)	28.77%	17.49%	Compare
SPXC SPX Technologies, Inc.	$8.4B	29.5×	34.3×	+22.92% (above 0%: growing)	+40.18% (above 0%: growing)	+96.84% (above 0%: growing)	40.18%	16.94%	Compare
AWI Armstrong World Industries, Inc.	$7.0B	23.0×	19.3×	+11.16% (above 0%: growing)	+12.44% (above 0%: growing)	+13.13% (above 0%: growing)	41.31%	28.35%
AAON AAON, Inc.	$6.4B	37.8×	57.5×	+101.23% (above 0%: growing)	+263.16% (above 0%: growing)	+52.96% (above 0%: growing)	24.32%	10.99%	Compare
BLDR Builders FirstSource, Inc.	$5.8B	59.4×	34.1×	−8.77% (below 0%: shrinking)	n/m	−87.35% (below 0%: shrinking)	28.14%	3.33%	Compare
LPX Louisiana-Pacific Corporation	$4.9B	88.7×	35.5×	−12.05% (below 0%: shrinking)	−50.65% (below 0%: shrinking)	−13.83% (below 0%: shrinking)	17.32%	4.52%	Compare
FBIN Fortune Brands Innovations, Inc.	$4.8B	32.6×	13.9×	−4.11% (below 0%: shrinking)	n/m	+51.05% (above 0%: growing)	51.19%	(0.78%)	Compare
TREX Trex Company, Inc.	$4.7B	27.2×	24.0×	+7.79% (above 0%: growing)	−15.49% (below 0%: shrinking)	−8.48% (below 0%: shrinking)	37.88%	20.62%	Compare
Median of peers	$6.1B	32.6×	29.1×	+4.06%	+1.72%	+21.38%	33.33%	13.97%

All 35 Building Products & Equipment stocks →