AWINYSEPlastics Products, NECFiscal year ends December 31
ARMSTRONG WORLD INDUSTRIES INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 28, 2026
$167.40−0.76 (-0.45%)
Close on Oct 19, 2026
- Market cap
- $7.15B
- P/E (TTM)
- 22.9
- Dividend yield
- 0.75%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
40.6%+5.1 pts over 5 years
Operating margin
26.6%−0.6 pts over 5 years
Net margin
19.0%+29.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +12.1% | +9.5% | +11.6% | +7.2% | |
| Gross profit | +13.3% | +13.6% | +14.6% | +8.0% | |
| Operating income | +15.1% | +15.6% | +11.1% | +10.6% | |
| Net income | +16.5% | +15.0% | – | +12.6% | |
| EPS, diluted | +17.6% | +17.4% | – | +15.5% | |
| Free cash flow | +33.7% | +31.8% | +8.5% | +22.3% | |
| Dividend per share | +10.0% | +10.1% | +9.3% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 20.2% | -24.3% | 37.2% | |
| Return on assets | 4.7% | -6.2% | 16.4% | |
| Current ratio | 1.81 | 1.81 | 1.46 | |
| Debt to equity | 3.28 | 1.59 | 0.45 | |
| Net debt to EBITDA | 2.57× | 1.71× | 0.53× | |
| Interest coverage | 4.0× | 10.6× | 13.1× | |
| Inventory turnover | 7.2× | 8.1× | 8.2× | |
| Capex to revenue | 12.4% | 5.9% | 6.7% | |
| Diluted shares | 56M | 48M | 44M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Armstrong World Industries generated $1.23B from operations and spent $1.23B on capital expenditure, dividends and share buybacks. 35% of that went back into the business.
Generated
$1.23B
Used
$1.23B
Capital expenditure$430.60M35%Dividends$238.30M19%Share buybacks$562.20M46%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin19.0%
×Asset turnover0.86×
×Equity multiplier2.27×
=Return on equity, FY202537.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 19.0% | 0.86× | 2.27× | 37.2% |
| FY2024 | 18.3% | 0.82× | 2.61× | 39.3% |
| FY2023 | 17.3% | 0.77× | 2.98× | 39.7% |
| FY2022 | 16.5% | 0.73× | 3.22× | 38.5% |
| FY2021 | 16.6% | 0.65× | 3.53× | 37.7% |
| FY2020 | -10.6% | 0.58× | 3.94× | -24.3% |
| FY2019 | 20.7% | 0.62× | 5.64× | 72.6% |
| FY2018 | 19.1% | 0.53× | 6.08× | 60.9% |
| FY2017 | 13.4% | 0.49× | 5.58× | 36.8% |
| FY2016 | 12.5% | 0.38× | 4.29× | 20.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
9of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$308.70M
- Cash generatingOperating cash flow above zero$355.50M
- Return on assets improvedROA up on the prior year15.8% → 16.8%
- Earnings backed by cashOperating cash flow above net income$355.50M vs $308.70M
- Less leverageLong-term debt to assets fell27.3% → 20.6%
- Better liquidityCurrent ratio rose1.40 → 1.46
- No dilutionShare count did not rise44M → 44M
- Gross margin improvedGross margin up on the prior year40.23% → 40.64%
- More efficientAsset turnover rose0.86 → 0.88