A Business at a Glance
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ARMSTRONG WORLD INDUSTRIES INC
AWI
$7.0B
Mkt Cap
$160.71
+1.68%
ARMSTRONG WORLD INDUSTRIES INC (AWI) has a current P/E ratio of 22.7, compared to its historical median P/E of 21.3. The stock is currently considered Fair based on its historical valuation range.
ARMSTRONG WORLD INDUSTRIES INC (AWI) has a 5-year average return on invested capital (ROIC) of 22.5%. This indicates strong capital allocation and a potential competitive advantage.
ARMSTRONG WORLD INDUSTRIES INC (AWI) has a market capitalization of $6.8B. It is classified as a mid-cap stock.
Yes, ARMSTRONG WORLD INDUSTRIES INC (AWI) pays a dividend with a trailing twelve-month yield of 0.83%. The company also returns capital through share buybacks, with a buyback yield of 2.45%.
Based on historical P/E analysis, ARMSTRONG WORLD INDUSTRIES INC (AWI) appears fair. The current P/E of 22.7 is 7% above its historical median of 21.3. The estimated fair value CAGR (P/E method) is 20.7%.
ARMSTRONG WORLD INDUSTRIES INC (AWI) operates in the Plastics Products, Nec industry, within the Materials sector.
Armstrong World Industries, Inc. (“AWI” or the “Company”) is a Pennsylvania corporation incorporated in 1891. When we refer to “we,” “our” and “us” in this report, we are referring to AWI and its subsidiaries. AWI is an Americas leader in the design and manufacture of innovative interior and exterior architectural applications including ceilings, specialty walls and exterior metal solutions. We manufacture and source products made of numerous materials, including mineral fiber, fiberglass, metal, felt, architectural resin and glass, wood, wood fiber and glass-reinforced-gypsum. We also manufacture ceiling suspension system (grid) products through a joint venture with Worthington Enterprises, Inc. called Worthington Armstrong Venture (“WAVE”). Reportable Segments Our operating segments are as follows: Mineral Fiber, Architectural Specialties and Unallocated Corporate. Mineral Fiber – produces suspended mineral fiber and fiberglass ceiling systems.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.6B | 1.6B | 1.4B | 1.3B | 1.2B | 1.1B |
| Net Income | 306M | 309M | 265M | 224M | 203M | 183M |
| EPS | $7.12 | $7.08 | $6.02 | $4.99 | $4.37 | $3.82 |
| Free Cash Flow | 239M | 246M | 184M | 150M | 108M | 107M |
| ROIC | 25.4% | 27.2% | 24.3% | 21.9% | 20.1% | 18.9% |
| Gross Margin | 40.3% | 40.6% | 40.2% | 38.4% | 36.4% | 36.7% |
| Debt/Equity | 0.54 | 0.51 | 0.74 | 1.04 | 1.25 | 1.26 |
| Dividends/Share | $1.33 | $1.26 | $1.15 | $1.04 | $0.95 | $0.86 |
| Operating Income | 427M | 431M | 374M | 324M | 279M | 260M |
| Operating Margin | 25.9% | 26.6% | 25.9% | 25.0% | 22.6% | 23.5% |
| ROE | 34.3% | 37.2% | 39.3% | 39.7% | 38.5% | 37.7% |
| Shares Outstanding | 43M | 44M | 44M | 45M | 46M | 48M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.3B | 805M | 837M | 894M | 975M | 1.0B | 937M | 1.1B | 1.2B | 1.3B | 1.4B | 1.6B | 1.6B |
| Gross Margin | 29.6% | 38.0% | 36.7% | 35.3% | 34.2% | 38.1% | 35.6% | 36.7% | 36.4% | 38.4% | 40.2% | 40.6% | 40.3% |
| R&D | 20M | 19M | 18M | 17M | 16M | 15M | 15M | 15M | 15M | 15M | 16M | 16M | 16M |
| SG&A | 250M | 181M | 184M | 139M | 159M | 174M | 163M | 237M | 237M | 263M | 309M | 340M | 350M |
| EBIT | 198M | 157M | 196M | 244M | 249M | 317M | 255M | 260M | 279M | 324M | 374M | 431M | 427M |
| Op. Margin | 15.3% | 19.5% | 23.4% | 27.3% | 25.6% | 30.6% | 27.2% | 23.5% | 22.6% | 25.0% | 25.9% | 26.6% | 25.9% |
| Net Income | 64M | 94M | 105M | 120M | 186M | 215M | -99M | 183M | 203M | 224M | 265M | 309M | 306M |
| Net Margin | 4.9% | 11.7% | 12.5% | 13.4% | 19.1% | 20.7% | -10.6% | 16.6% | 16.5% | 17.3% | 18.3% | 19.0% | 18.6% |
| Non-Recurring | 16M | 34M | 35M | 0 | 0 | 0 | 21M | 0 | 0 | 0 | -600K | 800K | 800K |
| Returns on Capital | |||||||||||||
| ROIC | 7.5% | 6.2% | 9.9% | 22.8% | 21.7% | 30.5% | 25.7% | 18.9% | 20.1% | 21.9% | 24.3% | 27.2% | 25.4% |
| ROE | 9.6% | 13.3% | 20.2% | 36.8% | 60.9% | 72.6% | -24.3% | 37.7% | 38.5% | 39.7% | 39.3% | 37.2% | 34.3% |
| ROA | 2.4% | 3.6% | 4.7% | 6.6% | 10.0% | 12.9% | -6.2% | 10.7% | 11.9% | 13.3% | 15.1% | 16.4% | 15.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 209M | 204M | 49M | 170M | 203M | 183M | 219M | 187M | 182M | 234M | 267M | 356M | 347M |
| Free Cash Flow | -14M | 33M | -55M | 81M | 131M | 111M | 163M | 107M | 108M | 150M | 184M | 246M | 239M |
| Owner Earnings | 67M | 72M | -52M | 71M | 110M | 101M | 128M | 79M | 84M | 126M | 145M | 213M | 205M |
| CapEx | 223M | 171M | 104M | 90M | 72M | 71M | 55M | 80M | 75M | 84M | 83M | 109M | 108M |
| Maint. CapEx | 129M | 118M | 89M | 89M | 79M | 72M | 84M | 97M | 84M | 89M | 103M | 120M | 121M |
| Growth CapEx | 94M | 52M | 15M | 500K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 129M | 118M | 89M | 89M | 79M | 72M | 84M | 97M | 84M | 89M | 103M | 120M | 121M |
| CapEx/OCF | 106.8% | 83.8% | 211.4% | 52.6% | 35.4% | 39.0% | 25.3% | 42.6% | 41.0% | 35.9% | 31.0% | 30.8% | 31.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 1.3M | 1.2M | 0 | 0 | 8.6M | 36M | 39M | 41M | 44M | 47M | 51M | 55M | 57M |
| Dividend Yield | 0.0% | 0.0% | N/A | N/A | 0.3% | 0.9% | 1.1% | 0.9% | 1.1% | 1.4% | 0.9% | 0.8% | 0.8% |
| Share Buybacks | 0 | 0 | 44M | 80M | 307M | 131M | 44M | 80M | 165M | 132M | 56M | 129M | 168M |
| Buyback Yield | N/A | N/A | 2.0% | 2.7% | 10.9% | 3.0% | 1.3% | 1.5% | 5.4% | 3.0% | 0.9% | 1.5% | 2.4% |
| Stock-Based Comp | 13M | 13M | 12M | 10M | 14M | 9.5M | 6.8M | 11M | 14M | 19M | 18M | 22M | 21M |
| Debt Repayment | 24M | 40M | 434M | 25M | 33M | 825M | 6.3M | 25M | 469M | 0 | 23M | 428M | 428M |
| Balance Sheet | |||||||||||||
| Net Debt | 903M | 779M | 787M | 691M | 494M | 601M | 598M | 555M | 564M | 543M | 484M | 342M | 400M |
| Cash & Equiv. | 140M | 209M | 142M | 160M | 326M | 45M | 137M | 98M | 106M | 71M | 79M | 113M | 80M |
| Long-Term Debt | 1.0B | 936M | 849M | 818M | 765M | 605M | 691M | 606M | 651M | 564M | 503M | 396M | 469M |
| Debt/Equity | 1.61 | 1.29 | 3.49 | 2.21 | 3.63 | 1.77 | 1.63 | 1.26 | 1.25 | 1.04 | 0.74 | 0.51 | 0.54 |
| Interest Coverage | 4.3 | 3.5 | 4.0 | 6.9 | 6.4 | 8.3 | 10.6 | 11.4 | 10.3 | 9.2 | 9.4 | 13.1 | 13.4 |
| Equity | 649M | 769M | 266M | 384M | 226M | 365M | 451M | 520M | 535M | 592M | 757M | 901M | 893M |
| Total Assets | 2.6B | 2.7B | 1.8B | 1.9B | 1.8B | 1.5B | 1.7B | 1.7B | 1.7B | 1.7B | 1.8B | 1.9B | 2.0B |
| Total Liabilities | 2.0B | 1.9B | 289M | 1.5B | 1.6B | 234M | 243M | 239M | 233M | 235M | 1.1B | 1.0B | -14M |
| Intangibles | 501M | 447M | 433M | 430M | 423M | 412M | 458M | 421M | 408M | 412M | 455M | 425M | 438M |
| Retained Earnings | 271M | 365M | 470M | 598M | 830M | 1.0B | 870M | 1.0B | 1.2B | 1.3B | 1.6B | 1.8B | 1.9B |
| Working Capital | 423M | 445M | 182M | 379M | 168M | 89M | 140M | 112M | 174M | 119M | 99M | 124M | 140M |
| Current Assets | 812M | 881M | 406M | 649M | 718M | 244M | 312M | 322M | 357M | 313M | 349M | 392M | 402M |
| Current Liabilities | 388M | 436M | 224M | 270M | 550M | 155M | 172M | 210M | 183M | 195M | 250M | 267M | 262M |
| Per Share Data | |||||||||||||
| EPS | 1.14 | 1.68 | 1.87 | 2.21 | 3.56 | 4.32 | -2.07 | 3.82 | 4.37 | 4.99 | 6.02 | 7.08 | 7.12 |
| Owner EPS | 1.19 | 1.28 | -0.93 | 1.31 | 2.10 | 2.04 | 2.67 | 1.66 | 1.82 | 2.80 | 3.30 | 4.89 | 4.80 |
| Book Value | 11.60 | 13.71 | 4.76 | 7.10 | 4.33 | 7.35 | 9.42 | 10.84 | 11.52 | 13.20 | 17.21 | 20.66 | 20.95 |
| Cash Flow/Share | 3.73 | 3.63 | 0.88 | 3.15 | 3.89 | 3.68 | 4.57 | 3.90 | 3.93 | 5.21 | 6.06 | 8.15 | 10.03 |
| Dividends/Share | 0.02 | 0.02 | N/A | N/A | 0.18 | 0.73 | 0.81 | 0.86 | 0.95 | 1.04 | 1.15 | 1.26 | 1.33 |
| Shares Out. | 56.0M | 56.1M | 56.0M | 54.1M | 52.2M | 49.7M | 47.9M | 48.0M | 46.4M | 44.8M | 44.0M | 43.6M | 42.6M |
| Valuation | |||||||||||||
| P/E Ratio | 40.7 | 25.4 | 21.3 | 25.3 | 15.1 | 20.4 | N/A | 29.1 | 15.2 | 19.6 | 23.7 | 27.2 | 22.6 |
| P/FCF | N/A | 72.4 | N/A | 37.6 | 21.4 | 39.3 | 20.6 | 49.6 | 28.6 | 29.2 | 34.1 | 34.1 | 28.7 |
| EV/EBIT | 17.7 | 20.2 | 15.4 | 15.3 | 12.2 | 15.5 | 15.1 | 22.3 | 12.6 | 15.0 | 17.8 | 19.9 | 17.0 |
| Price/Book | 4.0 | 3.1 | 8.4 | 7.9 | 12.4 | 12.0 | 7.5 | 10.2 | 5.8 | 7.4 | 8.3 | 9.3 | 7.7 |
| Price/Sales | 2.2 | 3.5 | 2.6 | 2.7 | 3.2 | 3.9 | 3.8 | 4.1 | 3.1 | 2.5 | 3.7 | 4.5 | 4.2 |
| FCF Yield | -0.5% | 1.4% | -2.5% | 2.7% | 4.7% | 2.5% | 4.9% | 2.0% | 3.5% | 3.4% | 2.9% | 2.9% | 3.5% |
| Market Cap | 2.6B | 2.4B | 2.2B | 3.0B | 2.8B | 4.4B | 3.4B | 5.3B | 3.1B | 4.4B | 6.3B | 8.4B | 6.8B |
| Avg. Price | 50.36 | 49.57 | 38.39 | 43.95 | 58.87 | 82.15 | 75.09 | 95.26 | 82.86 | 73.21 | 122.76 | 167.58 | 160.71 |
| Year-End Price | 46.37 | 42.63 | 39.82 | 56.01 | 53.78 | 88.28 | 70.37 | 111.05 | 66.39 | 97.62 | 142.58 | 192.25 | 160.71 |
ARMSTRONG WORLD INDUSTRIES INC passes 7 of 9 quality checks, indicating strong fundamentals.
ARMSTRONG WORLD INDUSTRIES INC trades at 22.7x trailing earnings, compared to its 15-year median P/E of 21.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 28.0x vs a median of 34.1x. The company's 5-year average ROIC is 22.5% with a gross margin of 38.5%. Total shareholder yield (dividends + buybacks) is 3.3%. At current prices, the estimated annualized return to fair value is +8.7%.
ARMSTRONG WORLD INDUSTRIES INC (AWI) reported annual revenue of $1.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
ARMSTRONG WORLD INDUSTRIES INC (AWI) has a net profit margin of 19.0%. This is a healthy margin.
ARMSTRONG WORLD INDUSTRIES INC (AWI) generated $246 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ARMSTRONG WORLD INDUSTRIES INC (AWI) has a debt-to-equity ratio of 0.51. This indicates moderate leverage.
ARMSTRONG WORLD INDUSTRIES INC (AWI) reported earnings per share (EPS) of $7.08 in its most recent fiscal year.
ARMSTRONG WORLD INDUSTRIES INC (AWI) has a return on equity (ROE) of 37.2%. This indicates the company generates strong returns for shareholders.
ARMSTRONG WORLD INDUSTRIES INC (AWI) has a 5-year average gross margin of 38.5%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for ARMSTRONG WORLD INDUSTRIES INC (AWI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ARMSTRONG WORLD INDUSTRIES INC (AWI) has a book value per share of $20.66, based on its most recent annual SEC filing.