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Armstrong World Industries, Inc., together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass, metal, wood, felt, architectural resin and glass, wood fiber, and glass-reinforced-gypsum; and ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems. It also designs, produces, and sources specialty ceilings, walls, and other interior and exterior architectural applications primarily for use in commercial settings; and manufactures ceiling suspension system (grid) products. It serves commercial and residential construction markets, as well as renovation of existing buildings sectors. The company sells its products to resale distributors, ceiling system contractors, wholesalers, and retailers comprising large home centers. Armstrong World Industries, Inc. was founded in 1860 and is headquartered in Lancaster, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.6B | $554M | $309M | $246M | 34.3% | 12.1% | 16.5% |
| 2024 | $1.4B | $490M | $265M | $184M | 35.0% | 11.6% | 18.4% |
| 2023 | $1.3B | $423M | $224M | $150M | 37.8% | 5.0% | 10.3% |
| 2022 | $1.2B | $368M | $203M | $108M | 37.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,233.10 | 1,295.20 | 1,445.70 | 1,620.80 |
| Cost Of Revenue | - | 784 | 798.20 | 864.10 | 962.10 |
| Gross Profit | - | 449.10 | 497 | 581.60 | 658.70 |
| Operating Expense | - | 237 | 262.50 | 308.50 | 339.50 |
| Operating Income | - | 212.10 | 234.50 | 273.10 | 319.20 |
| EBITDA | - | 368.40 | 422.80 | 490.10 | 553.70 |
| EBIT | - | 284.70 | 333.60 | 386.90 | 433.30 |
| Pretax Income | - | 257.60 | 298.30 | 347.10 | 400.30 |
| Tax Provision | - | 57.70 | 74.50 | 82.20 | 91.60 |
| Net Income | - | 202.90 | 223.80 | 264.90 | 308.70 |
| Net Income Common Stockholders | - | 202.90 | 223.80 | 264.90 | 308.70 |
| Total Expenses | - | 1,021 | 1,060.70 | 1,172.60 | 1,301.60 |
| Interest Expense | - | 27.10 | 35.30 | 39.80 | 33 |
| Interest Income | - | 0.50 | 3.50 | 3.80 | 2.40 |
| Selling General And Administration | - | 237 | 262.50 | 308.50 | 339.50 |
| Normalized EBITDA | - | 379.40 | 422.90 | 492.30 | 554.30 |
| Normalized Income | - | 208.44 | 223.88 | 266.58 | 309.16 |
| Market Cap | 7,636.03 | 7,636.03 | 7,636.03 | 7,636.03 | 7,636.03 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Armstrong World Industries, Inc.this co. | AWI | $7.6B | 24.74↓ discount | 8.48 | 34.3% | 14.48 |
| Primoris Services Corporation | PRIM | $9.3B | 33.85 | 5.54 | 16.4% | 19.27 |
| Powell Industries, Inc. | POWL | $9.1B | 50.94 | 14.37 | 28.2% | 38.90 |
| A. O. Smith Corporation | AOS | $9.1B | 16.29 | 4.79 | 29.4% | 10.96 |
| Argan, Inc. | AGX |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $9.0B |
| 66.17 |
| 19.72 |
| 29.8% |
| 62.32 |
| Zurn Elkay Water Solutions Corporation | ZWS | $8.9B | 44.40 | 5.48 | 12.3% | 24.21 |
| Gates Industrial Corporation plc | GTES | $6.6B | 25.85 | 1.95 | 7.5% | 11.97 |
| Amentum Holdings, Inc. | AMTM | $6.3B | 95.54 | 1.40 | 1.5% | 10.17 |
| Enpro Inc. | NPO | $6.2B | 154.50 | 4.05 | 2.6% | 35.03 |
| Peer Median | - | 47.67 | 5.14 | 14.4% | 21.74 | |