Armstrong World Inds Inc Financials
This page shows Armstrong World Inds Inc (AWI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Armstrong World Inds Inc has an operating margin of 25.9%, meaning the company retains $26 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 25.0% the prior year.
Armstrong World Inds Inc's revenue grew 11.6% year-over-year to $1.4B, a solid pace of expansion. This earns a growth score of 62/100.
Armstrong World Inds Inc carries a low D/E ratio of 0.66, meaning only $0.66 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.
Armstrong World Inds Inc's current ratio of 1.40 indicates adequate short-term liquidity, earning a score of 36/100. The company can meet its near-term obligations, though with limited headroom.
Armstrong World Inds Inc has a free cash flow margin of 12.7%, earning a moderate score of 64/100. The company generates positive cash flow after capital investments, but with room for improvement.
Armstrong World Inds Inc earns a strong 35.0% return on equity (ROE), meaning it generates $35 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 37.8% the prior year.
Armstrong World Inds Inc scores 7.39, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($8.5B) relative to total liabilities ($1.1B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Armstrong World Inds Inc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Armstrong World Inds Inc generates $1.01 in operating cash flow ($266.8M OCF vs $264.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Armstrong World Inds Inc earns $9.4 in operating income for every $1 of interest expense ($374.3M vs $39.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Armstrong World Inds Inc generated $1.4B in revenue in fiscal year 2024. This represents an increase of 11.6% from the prior year.
Armstrong World Inds Inc's EBITDA was $477.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 15.6% from the prior year.
Armstrong World Inds Inc generated $184.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 22.9% from the prior year.
Armstrong World Inds Inc reported $264.9M in net income in fiscal year 2024. This represents an increase of 18.4% from the prior year.
Armstrong World Inds Inc earned $6.02 per diluted share (EPS) in fiscal year 2024. This represents an increase of 20.6% from the prior year.
Armstrong World Inds Inc held $79.3M in cash against $502.6M in long-term debt as of fiscal year 2024.
Armstrong World Inds Inc paid $1.15 per share in dividends in fiscal year 2024. This represents an increase of 10.2% from the prior year.
Armstrong World Inds Inc had 44M shares outstanding in fiscal year 2024. This represents a decrease of 0.6% from the prior year.
Armstrong World Inds Inc's gross margin was 40.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.
Armstrong World Inds Inc's operating margin was 25.9% in fiscal year 2024, reflecting core business profitability. This is up 0.9 percentage points from the prior year.
Armstrong World Inds Inc's net profit margin was 18.3% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.0 percentage points from the prior year.
Armstrong World Inds Inc's ROE was 35.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 2.8 percentage points from the prior year.
Armstrong World Inds Inc invested $15.7M in research and development in fiscal year 2024. This represents an increase of 8.3% from the prior year.
Armstrong World Inds Inc spent $55.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 58.3% from the prior year.
Armstrong World Inds Inc invested $82.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 1.2% from the prior year.
AWI Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $425.2M+0.1% | $424.6M+10.9% | $382.7M+4.1% | $367.7M+0.7% | $365.1M+11.9% | $326.3M+4.5% | $312.3M-10.1% | $347.3M |
| Cost of Revenue | $246.7M-0.8% | $248.8M+6.9% | $232.8M+4.0% | $223.8M+3.7% | $215.8M+6.8% | $202.0M+4.8% | $192.8M-6.4% | $205.9M |
| Gross Profit | $178.5M+1.5% | $175.8M+17.3% | $149.9M+4.2% | $143.9M-3.6% | $149.3M+20.1% | $124.3M+4.0% | $119.5M-15.5% | $141.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $90.1M+6.6% | $84.5M+8.3% | $78.0M-8.1% | $84.9M+5.3% | $80.6M+23.2% | $65.4M-10.8% | $73.3M+13.5% | $64.6M |
| Operating Income | $117.2M-4.9% | $123.2M+25.1% | $98.5M+20.3% | $81.9M-13.8% | $95.0M+10.3% | $86.1M+29.9% | $66.3M-33.8% | $100.2M |
| Interest Expense | $8.2M-4.7% | $8.6M+1.2% | $8.5M-7.6% | $9.2M-17.1% | $11.1M+23.3% | $9.0M+4.7% | $8.6M-2.3% | $8.8M |
| Income Tax | $23.2M-15.6% | $27.5M+27.3% | $21.6M+56.5% | $13.8M-34.9% | $21.2M+4.4% | $20.3M+46.0% | $13.9M-42.6% | $24.2M |
| Net Income | $86.3M-1.7% | $87.8M+27.1% | $69.1M+11.1% | $62.2M-5.6% | $65.9M+10.0% | $59.9M+28.0% | $46.8M-32.7% | $69.5M |
| EPS (Diluted) | $1.98-1.5% | $2.01+27.2% | $1.58+12.1% | $1.41-6.0% | $1.50+10.3% | $1.36+29.5% | $1.05-32.7% | $1.56 |
AWI Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.9B+1.7% | $1.9B+0.4% | $1.9B+0.6% | $1.8B+1.2% | $1.8B+7.6% | $1.7B+1.1% | $1.7B-2.4% | $1.7B |
| Current Assets | $395.7M+5.4% | $375.6M+1.1% | $371.5M+6.5% | $348.9M-0.7% | $351.2M+6.2% | $330.7M+5.7% | $313.0M-10.6% | $350.1M |
| Cash & Equivalents | $90.1M+11.1% | $81.1M-2.1% | $82.8M+4.4% | $79.3M+7.7% | $73.6M+5.7% | $69.6M-1.7% | $70.8M-26.7% | $96.6M |
| Inventory | $123.5M+6.1% | $116.4M-0.6% | $117.1M+6.6% | $109.8M-3.5% | $113.8M+7.0% | $106.4M+2.3% | $104.0M-3.0% | $107.2M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $214.4M+2.8% | $208.5M-0.7% | $210.0M+3.3% | $203.2M+4.9% | $193.8M+10.6% | $175.3M-0.1% | $175.5M+0.4% | $174.8M |
| Total Liabilities | $1.0B-2.0% | $1.0B-3.5% | $1.1B-2.3% | $1.1B-5.7% | $1.2B+8.1% | $1.1B-1.5% | $1.1B-4.2% | $1.1B |
| Current Liabilities | $261.1M+12.1% | $232.9M+0.6% | $231.6M-7.2% | $249.7M+24.9% | $200.0M+8.5% | $184.4M-5.2% | $194.5M+4.7% | $185.8M |
| Long-Term Debt | $386.4M-16.3% | $461.8M-7.1% | $497.2M-1.1% | $502.6M-19.1% | $621.5M+11.2% | $558.9M-1.0% | $564.3M-6.7% | $604.8M |
| Total Equity | $889.2M+6.1% | $837.8M+5.6% | $793.4M+4.8% | $757.1M+13.2% | $669.0M+6.7% | $626.8M+5.9% | $591.8M+1.1% | $585.5M |
| Retained Earnings | $1.8B+4.3% | $1.7B+4.6% | $1.6B+3.6% | $1.6B+7.8% | $1.4B+3.8% | $1.4B+3.5% | $1.3B+2.6% | $1.3B |
AWI Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $122.9M+50.6% | $81.6M+99.0% | $41.0M-52.7% | $86.6M+51.1% | $57.3M+117.0% | $26.4M-53.8% | $57.1M-30.8% | $82.5M |
| Capital Expenditures | $22.6M+13.6% | $19.9M+4.2% | $19.1M-33.7% | $28.8M+44.7% | $19.9M+35.4% | $14.7M-38.0% | $23.7M+27.4% | $18.6M |
| Free Cash Flow | $100.3M+62.6% | $61.7M+181.7% | $21.9M-62.1% | $57.8M+54.5% | $37.4M+219.7% | $11.7M-65.0% | $33.4M-47.7% | $63.9M |
| Investing Cash Flow | $3.6M-50.0% | $7.2M+20.0% | $6.0M+133.1% | -$18.1M+79.3% | -$87.3M-1579.7% | $5.9M+2850.0% | $200K+104.3% | -$4.6M |
| Financing Cash Flow | -$117.3M-28.8% | -$91.1M-108.9% | -$43.6M+29.6% | -$61.9M-281.0% | $34.2M+203.3% | -$33.1M+60.4% | -$83.5M-1.2% | -$82.5M |
| Dividends Paid | $13.4M-2.9% | $13.8M+3.0% | $13.4M-0.7% | $13.5M+7.1% | $12.6M+2.4% | $12.3M-1.6% | $12.5M+10.6% | $11.3M |
| Share Buybacks | $27.0M-11.2% | $30.4M+38.2% | $22.0M+46.7% | $15.0M+50.0% | $10.0M-33.3% | $15.0M-57.1% | $35.0M-12.5% | $40.0M |
AWI Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.0%+0.6pp | 41.4%+2.2pp | 39.2%+0.0pp | 39.1%-1.7pp | 40.9%+2.8pp | 38.1%-0.2pp | 38.3%-2.5pp | 40.7% |
| Operating Margin | 27.6%-1.5pp | 29.0%+3.3pp | 25.7%+3.5pp | 22.3%-3.7pp | 26.0%-0.4pp | 26.4%+5.2pp | 21.2%-7.6pp | 28.8% |
| Net Margin | 20.3%-0.4pp | 20.7%+2.6pp | 18.1%+1.1pp | 16.9%-1.1pp | 18.1%-0.3pp | 18.4%+3.4pp | 15.0%-5.0pp | 20.0% |
| Return on Equity | 9.7%-0.8pp | 10.5%+1.8pp | 8.7%+0.5pp | 8.2%-1.6pp | 9.8%+0.3pp | 9.6%+1.7pp | 7.9%-4.0pp | 11.9% |
| Return on Assets | 4.6%-0.2pp | 4.7%+1.0pp | 3.7%+0.4pp | 3.4%-0.2pp | 3.6%+0.1pp | 3.5%+0.7pp | 2.8%-1.3pp | 4.1% |
| Current Ratio | 1.52-0.1 | 1.610.0 | 1.60+0.2 | 1.40-0.4 | 1.76-0.0 | 1.79+0.2 | 1.61-0.3 | 1.88 |
| Debt-to-Equity | 0.43-0.1 | 0.55-0.1 | 0.63-0.0 | 0.66-0.3 | 0.93+0.0 | 0.89-0.1 | 0.95-0.1 | 1.03 |
| FCF Margin | 23.6%+9.1pp | 14.5%+8.8pp | 5.7%-10.0pp | 15.7%+5.5pp | 10.2%+6.7pp | 3.6%-7.1pp | 10.7%-7.7pp | 18.4% |
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Frequently Asked Questions
What is Armstrong World Inds Inc's annual revenue?
Armstrong World Inds Inc (AWI) reported $1.4B in total revenue for fiscal year 2024. This represents a 11.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Armstrong World Inds Inc's revenue growing?
Armstrong World Inds Inc (AWI) revenue grew by 11.6% year-over-year, from $1.3B to $1.4B in fiscal year 2024.
Is Armstrong World Inds Inc profitable?
Yes, Armstrong World Inds Inc (AWI) reported a net income of $264.9M in fiscal year 2024, with a net profit margin of 18.3%.
What is Armstrong World Inds Inc's earnings per share (EPS)?
Armstrong World Inds Inc (AWI) reported diluted earnings per share of $6.02 for fiscal year 2024. This represents a 20.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Armstrong World Inds Inc's EBITDA?
Armstrong World Inds Inc (AWI) had EBITDA of $477.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Armstrong World Inds Inc have?
As of fiscal year 2024, Armstrong World Inds Inc (AWI) had $79.3M in cash and equivalents against $502.6M in long-term debt.
What is Armstrong World Inds Inc's gross margin?
Armstrong World Inds Inc (AWI) had a gross margin of 40.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Armstrong World Inds Inc's operating margin?
Armstrong World Inds Inc (AWI) had an operating margin of 25.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Armstrong World Inds Inc's net profit margin?
Armstrong World Inds Inc (AWI) had a net profit margin of 18.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Armstrong World Inds Inc pay dividends?
Yes, Armstrong World Inds Inc (AWI) paid $1.15 per share in dividends during fiscal year 2024.
What is Armstrong World Inds Inc's return on equity (ROE)?
Armstrong World Inds Inc (AWI) has a return on equity of 35.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Armstrong World Inds Inc's free cash flow?
Armstrong World Inds Inc (AWI) generated $184.0M in free cash flow during fiscal year 2024. This represents a 22.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Armstrong World Inds Inc's operating cash flow?
Armstrong World Inds Inc (AWI) generated $266.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Armstrong World Inds Inc's total assets?
Armstrong World Inds Inc (AWI) had $1.8B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Armstrong World Inds Inc's capital expenditures?
Armstrong World Inds Inc (AWI) invested $82.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Armstrong World Inds Inc spend on research and development?
Armstrong World Inds Inc (AWI) invested $15.7M in research and development during fiscal year 2024.
Does Armstrong World Inds Inc buy back shares?
Yes, Armstrong World Inds Inc (AWI) spent $55.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Armstrong World Inds Inc have outstanding?
Armstrong World Inds Inc (AWI) had 44M shares outstanding as of fiscal year 2024.
What is Armstrong World Inds Inc's current ratio?
Armstrong World Inds Inc (AWI) had a current ratio of 1.40 as of fiscal year 2024, which is considered adequate.
What is Armstrong World Inds Inc's debt-to-equity ratio?
Armstrong World Inds Inc (AWI) had a debt-to-equity ratio of 0.66 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Armstrong World Inds Inc's return on assets (ROA)?
Armstrong World Inds Inc (AWI) had a return on assets of 14.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Armstrong World Inds Inc's Altman Z-Score?
Armstrong World Inds Inc (AWI) has an Altman Z-Score of 7.39, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Armstrong World Inds Inc's Piotroski F-Score?
Armstrong World Inds Inc (AWI) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Armstrong World Inds Inc's earnings high quality?
Armstrong World Inds Inc (AWI) has an earnings quality ratio of 1.01x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Armstrong World Inds Inc cover its interest payments?
Armstrong World Inds Inc (AWI) has an interest coverage ratio of 9.4x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Armstrong World Inds Inc?
Armstrong World Inds Inc (AWI) scores 75 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.