AWI Industrials

Armstrong World Industries, Inc.

$171.13+0.02%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Industrials
Industry: Building Products & Equipment
Country: United States
Market cap: 7.2B USD
Enterprise value: 7.5B USD
Full-time employees: 4,000

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.16 vs a peer median of 0.64)higher risk: bigger price swings (beta 1.16 vs peers 0.64)
About average: valuation

Ranks #726 of 2,308 industrials companies (top 32%)

See how it ranks against its peers

Worth knowing

Profits growing faster than sales. Since 2022: revenue +31%, operating profit +55%.
Since 2022, Armstrong World Industries's revenue grew 31% while operating profit grew 55%: each extra dollar of sales is adding more profit.
Share count shrinking. Shares outstanding down 7.3% from December 2022 to July 2026.
Armstrong World Industries had 7.3% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $937M in 2020 to $1.6B in 2025.
Armstrong World Industries's fiscal-year revenue rose in each of the five years to 2025, from $937M to $1.6B.
Wide margins. Operating margin 26% (12 months to Jun 2026) vs a peer median of 7.7%.Operating margin 26% vs peers 7.7%.
Armstrong World Industries keeps 26% of revenue as operating profit, more than 94% of peers (median 7.7%).

StockQuotient Score

60/ 100▼ 1 since Oct 27 close

Oct 5 61 → Nov 4 60 (-1)

Valuation

Is the price right?

50/100

Moderate▼ 5 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 55 → 50

Share price +10.2%-5

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.4%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.20Sector median: 0.0377 · MAD: 0.0294

EBITDA yield7.3%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.08Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield3.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.08Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield12.2%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

64/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.9%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth9.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.08Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth10.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.97Sector median: 0.0421 · MAD: 0.0625

Revenue growth8.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.55Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

98/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ Operating margin
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin25.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 3.56Sector median: 0.0773 · MAD: 0.0507

Return on assets15.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.33Sector median: 0.0311 · MAD: 0.0241

Return on invested capital26.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 3.49Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin40.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity35.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.16

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.87Sector median: 0.6440 · MAD: 0.2745

Current ratio1.52×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.18Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.56×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.46Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Armstrong World Industries

Is Armstrong World Industries getting weaker?: Its latest SEC filing (Jul 28, 2026) showed no major changes. Its overall score is 60/100, down 1 since Oct 28, 2026.
How is Armstrong World Industries valued vs its peers?: Priced about in line with its peers. Valuation scores 50/100 against 2,459 industrials peers.
Is Armstrong World Industries growing?: Yes, faster than most of its peers. Growth scores 64/100 against 2,459 industrials peers. 3-year revenue growth 10.3% vs a peer median of 4.2% (stronger than 74% of peers).3-year revenue growth 10.3% vs peers 4.2% (stronger than 74% of peers).
How profitable is Armstrong World Industries?: More profitable than most of its peers. Profitability scores 98/100 against 2,459 industrials peers. Return on assets 15.7% vs a peer median of 3.1% (stronger than 95% of peers).Return on assets 15.7% vs peers 3.1% (stronger than 95% of peers).
How risky is Armstrong World Industries?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.16 vs a peer median of 0.64 (weaker than 82% of peers).Beta 1.16 vs peers 0.64 (weaker than 82% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 28, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.6B USD	1.7B USD	+2.9%
Net income (12 months)	306.4M USD	315.3M USD	+2.9%
Operating margin	25.9%	25.8%	−0.1 pts
Free cash flow (12 months)	238.6M USD	246.7M USD	+3.4%
Debt	479.3M USD	492.0M USD	+2.6%
Cash	79.8M USD	78.6M USD	−1.5%
Shares outstanding	42.7M	42.3M	−1.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Building Products & Equipment · 19 companies

Valuations in Building Products & Equipment are above their usual range since Nov 2016.

79% of months since Nov 2016 were valued lower than now.
25% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −19% and earnings −9% (medians): prices and earnings moved broadly together.
Median price-to-sales is −9% vs the whole market, against a usual −30%.

Nov 2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	36.7%	36.4%	38.4%	40.2%	40.6%	▲ 0.4 pts
Operating margin	23.5%	22.6%	25.0%	25.9%	26.6%	▲ 0.7 pts
Net margin	16.6%	16.5%	17.3%	18.3%	19.0%	▲ 0.7 pts
Return on assets (ROA)	10.7%	12.0%	13.4%	14.4%	16.0%	▲ 1.7 pts
Return on equity (ROE)	35.3%	37.9%	37.8%	35.0%	34.3%	▼ 0.7 pts
Free cash flow margin	9.7%	8.7%	11.6%	12.7%	15.2%	▲ 2.5 pts
Current ratio	1.54×	1.95×	1.61×	1.40×	1.46×	▲ 4.8%
Quick ratio	1.11×	1.35×	1.07×	0.96×	1.00×	▲ 4.2%
Debt to equity	1.21×	1.22×	0.99×	0.69×	0.45×	▼ 35%
Interest coverage	11.35×	10.28×	9.17×	9.40×	13.06×	▲ 39%

AWI price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Worth knowing

Profits growing faster than sales. Since 2022: revenue +31%, operating profit +55%.

Since 2022, Armstrong World Industries's revenue grew 31% while operating profit grew 55%: each extra dollar of sales is adding more profit.

Share count shrinking. Shares outstanding down 7.3% from December 2022 to July 2026.

Armstrong World Industries had 7.3% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $937M in 2020 to $1.6B in 2025.

Armstrong World Industries's fiscal-year revenue rose in each of the five years to 2025, from $937M to $1.6B.

Wide margins. Operating margin 26% (12 months to Jun 2026) vs a peer median of 7.7%.Operating margin 26% vs peers 7.7%.

Armstrong World Industries keeps 26% of revenue as operating profit, more than 94% of peers (median 7.7%).

Questions investors ask about Armstrong World Industries

Is Armstrong World Industries getting weaker?

Its latest SEC filing (Jul 28, 2026) showed no major changes. Its overall score is 60/100, down 1 since Oct 28, 2026.

How is Armstrong World Industries valued vs its peers?

Priced about in line with its peers. Valuation scores 50/100 against 2,459 industrials peers.

Is Armstrong World Industries growing?

Yes, faster than most of its peers. Growth scores 64/100 against 2,459 industrials peers. 3-year revenue growth 10.3% vs a peer median of 4.2% (stronger than 74% of peers).3-year revenue growth 10.3% vs peers 4.2% (stronger than 74% of peers).

How profitable is Armstrong World Industries?

More profitable than most of its peers. Profitability scores 98/100 against 2,459 industrials peers. Return on assets 15.7% vs a peer median of 3.1% (stronger than 95% of peers).Return on assets 15.7% vs peers 3.1% (stronger than 95% of peers).

How risky is Armstrong World Industries?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.16 vs a peer median of 0.64 (weaker than 82% of peers).Beta 1.16 vs peers 0.64 (weaker than 82% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.6B USD

1.7B USD

+2.9%

Net income (12 months)

306.4M USD

315.3M USD

+2.9%

Operating margin

25.9%

25.8%

−0.1 pts

Free cash flow (12 months)

238.6M USD

246.7M USD

+3.4%

Debt

479.3M USD

492.0M USD

+2.6%

Cash

79.8M USD

78.6M USD

−1.5%

Shares outstanding

42.7M

42.3M

−1.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

36.7%

36.4%

38.4%

40.2%

40.6%

▲ 0.4 pts

Operating margin

23.5%

22.6%

25.0%

25.9%

26.6%

▲ 0.7 pts

Net margin

16.6%

16.5%

17.3%

18.3%

19.0%

▲ 0.7 pts

Return on assets (ROA)

10.7%

12.0%

13.4%

14.4%

16.0%

▲ 1.7 pts

Return on equity (ROE)

35.3%

37.9%

37.8%

35.0%

34.3%

▼ 0.7 pts

Free cash flow margin

9.7%

8.7%

11.6%

12.7%

15.2%

▲ 2.5 pts

Current ratio

1.54×

1.95×

1.61×

1.40×

1.46×

▲ 4.8%

Quick ratio

1.11×

1.35×

1.07×

0.96×

1.00×

▲ 4.2%

Debt to equity

1.21×

1.22×

0.99×

0.69×

0.45×

▼ 35%

Interest coverage

11.35×

10.28×

9.17×

9.40×

13.06×

▲ 39%