Skip to content
stoqly

Armstrong World Industries Inc

AWI NYSE Plastics Products, Nec Financials FY2016–FY2025

Revenue Total sales reported in the income statement.
$1.6B
12.1% vs prior year
Operating margin Operating income as a share of revenue.
26.6%
0.7 pts
Net income Profit after all expenses, interest and tax.
$309M
16.5%
Free cash flow Cash from operations minus capital spending.
$246M
33.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
27.8%
4.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
β€”
P/E Last close divided by diluted earnings per share over the last four quarters.
β€”
On $7.30 EPS (TTM)

What Armstrong World Industries Inc does

No business description yet.

Legal name
ARMSTRONG WORLD INDUSTRIES INC
Fiscal year ends
December 31, 2025
Latest annual report
10-K Β· Feb 24, 2026
Accession Β· CIK
0001193125-26-065183
0000007431

Revenue and margins

Armstrong World Industries Inc had $1.6B of revenue in fiscal 2025, up 12.1% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 15.9% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $246M in fiscal 2025, 15.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Armstrong World Industries Inc returned $184M to shareholders in fiscal 2025, 75% of free cash flow. The diluted share count fell 0.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Armstrong World Industries Inc can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $98.1M$106M$70.8M$79.3M$113M
Debt incl. finance leases $650M$668M$613M$562M$446M
Net debt / EBITDA 1.5x1.6x1.3x1.0x0.6x
Debt / equity 1.2x1.2x1.0x0.7x0.5x
Interest coverage 11.4x10.3x9.2x9.4x13.1x
Current ratio 1.5x2.0x1.6x1.4x1.5x
Quick ratio 1.1x1.3x1.1x1.0x1.0x
Total assets $1.7B$1.7B$1.7B$1.8B$1.9B
Total liabilities $1.2B$1.2B$1.1B$1.1B$1.0B
Shareholders' equity $520M$535M$592M$757M$901M
Net debt (βˆ’ = net cash) $552M$562M$542M$483M$333M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

β€”

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Net income is positive βœ“ βœ“ βœ“ βœ“ βœ• βœ“ βœ“ βœ“ βœ“ βœ“
Cash from operations is positive βœ“ βœ“ βœ“ βœ“ βœ“ βœ“ βœ“ βœ“ βœ“ βœ“
Return on assets rose β€” βœ“ βœ“ βœ“ βœ• βœ“ βœ“ βœ“ βœ“ βœ“
Cash from operations exceeds net income βœ• βœ“ βœ“ βœ• βœ“ βœ“ βœ• βœ“ βœ“ βœ“
Debt fell relative to assets β€” βœ“ βœ“ βœ“ βœ• βœ“ βœ• βœ“ βœ“ βœ“
Current ratio rose β€” βœ“ βœ• βœ“ βœ“ βœ• βœ“ βœ• βœ• βœ“
Share count didn't rise β€” βœ“ βœ“ βœ“ βœ“ βœ“ βœ“ βœ“ βœ“ βœ“
Gross margin rose β€” βœ• βœ• βœ“ βœ• βœ“ βœ• βœ“ βœ“ βœ“
Revenue rose relative to assets β€” βœ“ βœ“ βœ“ βœ• βœ“ βœ“ βœ“ βœ“ βœ“
F-score β€” / 38 / 97 / 98 / 94 / 98 / 96 / 98 / 98 / 99 / 9
Accruals ratio 3.2%βˆ’2.8%βˆ’0.9%1.9%βˆ’19.8%βˆ’0.2%1.2%βˆ’0.6%βˆ’0.1%βˆ’2.5%
Altman Z'' 2.493.513.134.363.553.844.534.975.215.92

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $837M $894M $975M $1.0B $937M $1.1B $1.2B $1.3B $1.4B $1.6B
Gross profit $307M $315M $334M $395M $333M $406M $449M $497M $582M $659M
Research and development $17.8M $17.4M $16.3M $14.8M $14.7M $14.6M $14.9M $14.5M $15.7M $16.4M
Operating income $196M $244M $249M $317M $255M $260M $279M $324M $374M $431M
Interest expense $49.5M $35.4M $39.2M $38.4M $24.1M $22.9M $27.1M $35.3M $39.8M $33.0M
Pretax income $151M $222M $243M $299M βˆ’$127M $243M $258M $298M $347M $400M
Income tax $51.3M $1.5M $53.1M $57.1M βˆ’$42.6M $57.4M $57.7M $74.5M $82.2M $91.6M
Net income $105M $120M $186M $215M βˆ’$99.1M $183M $203M $224M $265M $309M
Net income to common β€” β€” β€” β€” β€” β€” β€” $224M $265M $309M
Diluted EPS $1.87 $2.21 $3.56 $4.32 βˆ’$2.07 $3.82 $4.37 $4.99 $6.02 $7.08
Diluted shares 0.06B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.04B 0.04B 0.04B
Cash flow
Cash from operations $49.3M $170M $203M $183M $219M $187M $182M $234M $267M $356M
Capital expenditure $104M $89.7M $71.9M $71.3M $55.4M $79.8M $74.8M $83.8M $82.8M $109M
Free cash flow βˆ’$54.9M $80.7M $131M $111M $163M $107M $108M $150M $184M $246M
Depreciation and amortization $89.2M $89.2M $79.4M $72.1M $84.0M $96.5M $83.7M $89.2M $103M $120M
Stock-based compensation $12.4M $10.2M $14.0M $9.5M $6.8M $11.3M $14.3M $18.8M $18.3M $21.9M
Acquisitions β€” β€” $22.2M $56.4M $165M $0.7M $2.8M $26.5M $124M $13.9M
Share buybacks $43.8M $80.4M $307M $131M $44.4M $80.0M $165M $132M $56.3M $129M
Dividends paid β€” β€” $8.6M $35.6M $39.2M $41.4M $44.2M $46.9M $50.6M $55.2M
Dividends and buybacks $43.8M $80.4M $315M $167M $83.6M $121M $209M $179M $107M $184M
Balance sheet
Cash and short-term investments $142M $160M $326M $45.3M $137M $98.1M $106M $70.8M $79.3M $113M
Total debt $874M $850M $820M $611M $716M $631M $651M $587M $525M $407M
Finance lease liabilities β€” β€” β€” $0.0M $20.8M $19.0M $16.8M $26.4M $37.0M $38.8M
Current assets $406M $649M $718M $244M $312M $322M $357M $313M $349M $392M
Current liabilities $224M $270M $550M $155M $172M $210M $183M $195M $250M $267M
Inventory $46.9M $53.8M $61.2M $68.5M $81.5M $90.2M $110M $104M $110M $125M
Property and equipment, net $465M $500M $501M $525M $530M $543M $554M $566M $599M $631M
Goodwill $0.5M $11.3M $19.2M $53.0M $161M $167M $167M $176M $203M $218M
Intangible assets $433M β€” $423M $412M $458M $421M $408M $412M $455M $425M
Total assets $1.8B $1.9B $1.8B $1.5B $1.7B $1.7B $1.7B $1.7B $1.8B $1.9B
Total liabilities $1.5B $1.5B $1.6B $1.1B $1.3B $1.2B $1.2B $1.1B $1.1B $1.0B
Shareholders' equity $266M $384M $226M $365M $451M $520M $535M $592M $757M $901M
Margins
Gross margin 36.7% 35.3% 34.2% 38.1% 35.6% 36.7% 36.4% 38.4% 40.2% 40.6%
Operating margin 23.4% 27.3% 25.6% 30.6% 27.2% 23.5% 22.6% 25.0% 25.9% 26.6%
EBITDA margin 34.0% 37.3% 33.7% 37.5% 36.2% 32.2% 29.4% 31.9% 33.0% 34.0%
Net margin 12.5% 13.4% 19.1% 20.7% βˆ’10.6% 16.6% 16.5% 17.3% 18.3% 19.0%
FCF margin βˆ’6.6% 9.0% 13.5% 10.7% 17.4% 9.7% 8.7% 11.6% 12.7% 15.2%
Returns
Return on capital 12.9% 22.5% 27.1% 27.6% 19.6% 18.9% 20.0% 21.9% 23.7% 27.8%
Return on capital employed 12.8% 15.2% 19.4% 23.7% 16.5% 17.3% 18.5% 21.9% 23.5% 26.0%
Return on equity 39.3% 36.8% 60.9% 72.6% βˆ’24.3% 37.7% 38.5% 39.7% 39.3% 37.2%
Return on assets 6.0% 6.6% 10.0% 12.9% βˆ’6.2% 10.7% 11.9% 13.3% 15.1% 16.4%
Return on tangible equity β€” 32.1% β€” β€” β€” β€” β€” 5,735.9% 267.8% 119.8%
Growth
Revenue growth β€” 6.7% 9.1% 6.4% βˆ’9.7% 18.1% 11.4% 5.0% 11.6% 12.1%
Net income growth β€” 14.2% 55.4% 15.4% βˆ’146.2% β€” 10.8% 10.3% 18.4% 16.5%
EPS growth β€” 18.2% 61.1% 21.3% βˆ’147.9% β€” 14.4% 14.2% 20.6% 17.6%
FCF growth β€” β€” 62.7% βˆ’15.2% 46.7% βˆ’34.3% 0.2% 39.1% 22.9% 33.8%
Share count change β€” βˆ’3.2% βˆ’3.3% βˆ’5.0% βˆ’3.2% 0.0% βˆ’3.1% βˆ’3.4% βˆ’1.8% βˆ’0.9%
Financial health
Net debt / EBITDA 2.6x 2.1x 1.5x 1.5x 1.8x 1.5x 1.6x 1.3x 1.0x 0.6x
Debt / equity 3.3x 2.2x 3.6x 1.7x 1.6x 1.2x 1.2x 1.0x 0.7x 0.5x
Interest coverage 4.0x 6.9x 6.4x 8.3x 10.6x 11.4x 10.3x 9.2x 9.4x 13.1x
Current ratio 1.8x 2.4x 1.3x 1.6x 1.8x 1.5x 2.0x 1.6x 1.4x 1.5x
Quick ratio 1.6x 2.2x 1.2x 1.1x 1.3x 1.1x 1.3x 1.1x 1.0x 1.0x
Capital allocation
Capex / revenue 12.4% 10.0% 7.4% 6.9% 5.9% 7.2% 6.1% 6.5% 5.7% 6.7%
Stock comp / revenue 1.5% 1.1% 1.4% 0.9% 0.7% 1.0% 1.2% 1.5% 1.3% 1.4%
Payouts / FCF β€” 99.6% 240.1% 149.8% 51.2% 113.0% 194.4% 119.5% 58.1% 74.8%
Quality scores
Piotroski F-score β€” 8.0 7.0 8.0 4.0 8.0 6.0 8.0 8.0 9.0
Altman Z'' 2.5 3.5 3.1 4.4 3.6 3.8 4.5 5.0 5.2 5.9
Accruals ratio 3.2% βˆ’2.8% βˆ’0.9% 1.9% βˆ’19.8% βˆ’0.2% 1.2% βˆ’0.6% βˆ’0.1% βˆ’2.5%

Source: SEC EDGAR XBRL filings (CIK 0000007431). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β€” not investment advice. Check the original filings before relying on any figure.

↑ ↓ to move Β· ↡ to open