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AWI

Armstrong World Industries, Inc.

AWI

Armstrong World Industries, Inc. • NYSE
$189.74 ▼ -0.56% (-1.06)
Market Cap $8.18 B
52w High $206.08
52w Low $122.37
Dividend Yield 1.26%
P/E 27.26
Volume 130.15K
Outstanding Shares 43.13M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $425.2M ▲ $61.3M ▼ $86.3M ▼ 20.296% ▼ $2 ▼ $147.8M ▼
Q2-2025 $424.6M ▲ $84.4M ▲ $87.8M ▲ 20.678% ▲ $2.02 ▲ $154.4M ▲
Q1-2025 $382.7M ▲ $78M ▼ $69.1M ▲ 18.056% ▲ $1.59 ▲ $128.9M ▲
Q4-2024 $367.7M ▼ $85.4M ▲ $62.2M ▼ 16.916% ▼ $1.43 ▼ $113.3M ▼
Q3-2024 $386.6M $77.6M $76.9M 19.891% $1.76 $141.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $90.1M ▲ $1.893B ▲ $1.004B ▼ $889.2M ▲
Q2-2025 $81.1M ▼ $1.862B ▲ $1.024B ▼ $837.8M ▲
Q1-2025 $82.8M ▲ $1.854B ▲ $1.061B ▼ $793.4M ▲
Q4-2024 $79.3M ▲ $1.843B ▲ $1.086B ▼ $757.1M ▲
Q3-2024 $73.7M $1.804B $1.087B $717M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $86.3M ▼ $122.9M ▲ $3.6M ▼ $-117.3M ▼ $9M ▲ $100.3M ▲
Q2-2025 $87.8M ▲ $81.6M ▲ $7.2M ▲ $-91.1M ▼ $-1.7M ▼ $61.7M ▲
Q1-2025 $69.1M ▲ $41M ▼ $6M ▲ $-43.6M ▲ $3.5M ▼ $21.9M ▼
Q4-2024 $62.2M ▼ $86.6M ▼ $-18.1M ▼ $-61.9M ▲ $5.6M ▲ $57.8M ▼
Q3-2024 $76.9M $96.5M $20.2M $-116.8M $100K $77.1M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Architectural Specialties
Architectural Specialties
 $130.00M ▲$140.00M ▲$160.00M ▲$150.00M ▼
Mineral Fiber
Mineral Fiber
 $240.00M ▲$250.00M ▲$270.00M ▲$270.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Armstrong’s income statement shows a clear story of recovery and steady improvement. Sales have grown each year over the last five years, and profits have risen even faster than sales, which suggests better pricing power, mix shift to higher‑margin products, or stronger cost control. The company moved from a loss during the pandemic period to solid, consistent profitability, with earnings per share climbing meaningfully each year since then. Overall, the core business looks more efficient and more profitable than it was five years ago, though it remains exposed to the usual ups and downs of commercial construction demand.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and gradually stronger over time. Total assets have stayed fairly stable, while shareholder equity has built up, reflecting retained profits and a healthier capital base. Debt has edged down from earlier levels, which modestly reduces financial risk, although leverage is still meaningful and worth watching if the cycle turns. Cash on hand is relatively small but consistent, indicating the company runs a fairly lean liquidity position and relies on steady cash generation rather than large cash reserves.

Cash Flow

Cash Flow Cash generation is a key strength. Operating cash flow has been consistently positive and has grown in line with profits, which supports the quality of earnings. Free cash flow has also been positive in every year shown, even during the pandemic, despite ongoing investment in the business. Capital spending has been steady rather than aggressive, suggesting disciplined investment focused on maintenance and selective growth rather than large, risky projects. This pattern gives the company flexibility to fund dividends, buybacks, or acquisitions without over‑stretching its finances, assuming business conditions remain supportive.

Competitive Edge

Competitive Edge Armstrong holds a leading position in North American ceiling systems, supported by a very long operating history, strong brand recognition, and deep relationships with distributors, contractors, and architects. The joint venture in suspension systems further reinforces its role as a go‑to supplier for complete ceiling solutions. Its scale, reputation for reliability, and broad product range create meaningful barriers for smaller competitors. At the same time, the company is pushing more into higher‑end, custom architectural solutions, which can carry better margins and tighter customer relationships. Competitive risks come mainly from other large building materials players, price competition in more standard products, and sensitivity to commercial construction cycles, but Armstrong’s entrenched network and brand give it a durable edge.

Innovation and R&D

Innovation and R&D Innovation at Armstrong is tightly focused on sustainability, health, and design flexibility rather than on raw manufacturing scale. The ceilings recycling program and energy‑saving technologies like TEMPLOK show a clear push toward lower‑carbon, more efficient buildings, which aligns well with tightening codes and green building standards. Its emphasis on indoor environmental quality—acoustics, light, and air—positions the company to benefit from growing attention to occupant wellness. Acquisitions in metal, wood, and specialty systems have expanded its design toolkit, allowing it to serve more complex, high‑profile projects. Digital tools such as PROJECTWORKS and the kanopi platform, plus early moves into modular and off‑site construction, suggest a willingness to adapt to how buildings are increasingly designed and delivered. The main uncertainties are execution risk on acquisitions and the need to prove newer technologies at scale, but the overall innovation strategy appears focused and commercially relevant.

Summary

Armstrong World Industries combines a steadily improving financial profile with a strong competitive position in a niche but critical part of the construction ecosystem. Profitability and cash generation have strengthened meaningfully since the pandemic, while leverage has inched down and equity has built up, pointing to a more resilient financial footing. On the strategic side, the company blends a dominant core business in standard ceiling systems with faster‑growing, higher‑margin architectural specialties, all underpinned by a brand that is well known to architects, contractors, and building owners. Its clear tilt toward sustainability, healthy spaces, and digital and modular solutions positions it well against important long‑term trends in commercial buildings. Key things to monitor include the health of non‑residential construction, how well newer acquisitions are integrated, and whether its energy‑saving and wellness‑oriented products gain broad market adoption over time.

NEWS

November 10, 2025 · 4:30 PM UTC

Armstrong World Industries to Attend the 2025 Baird Global Industrial Conference

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October 28, 2025 · 6:00 AM UTC

Armstrong World Industries Reports Third-Quarter 2025 Results

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October 23, 2025 · 8:00 AM UTC

Armstrong World Industries Announces Two Additions to its Board of Directors

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October 22, 2025 · 4:15 PM UTC

Armstrong World Industries Announces Increase in Quarterly Dividend

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October 7, 2025 · 8:00 AM UTC

Armstrong World Industries Schedules Third-Quarter 2025 Earnings Release and Conference Call

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