15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 11.6% per year over the past 5 years.
Operating margin has been roughly flat, at 26.6% in the latest year.
Free cash flow has grown 8.5% per year over the past 5 years.
Financial health
Total debt ($407M) exceeds cash ($113M); net debt is $294M.
Total debt has grown slower than revenue (-10.7% vs 11.6% per year).
Operating income covered interest expense 13× in the latest year, up from 11× 5 years ago.
Total debt is 0.7× EBITDA.
Shareholder returns
Dividends have been paid for 8 consecutive years, consuming 17.9% of earnings and 22.4% of free cash flow.
The dividend has grown 7.1% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$1.6B
$309M
40.6%
26.6%
34.3%
16.0%
$246M
$407M
$113M
2024
$1.4B
$265M
40.2%
25.9%
35.0%
14.4%
$184M
$525M
$79M
2023
$1.3B
$224M
38.4%
25.0%
37.8%
13.4%
$150M
$587M
$71M
2022
$1.2B
$203M
36.4%
22.6%
37.9%
12.0%
$108M
$651M
$106M
2021
$1.1B
$183M
36.7%
23.5%
35.3%
10.7%
$107M
$631M
$98M
2020
$937M
-$99M
35.6%
27.2%
-22.0%
-5.8%
$163M
$716M
$137M
2019
$1.0B
$215M
38.1%
30.6%
58.8%
14.4%
$111M
$611M
$45M
2018
$975M
$186M
34.2%
25.6%
82.3%
10.1%
$131M
$820M
$326M
2017
$894M
$120M
35.3%
27.3%
31.1%
6.4%
$81M
$850M
$160M
2016
$837M
$105M
36.7%
23.4%
39.3%
6.0%
-$55M
$874M
$142M
2015
—
$94M
—
—
12.3%
3.5%
$33M
$988M
$209M
2014
—
$64M
—
—
9.8%
2.4%
-$14M
$1.0B
$140M
2013
—
$94M
—
—
14.0%
3.5%
$0
$1.1B
$112M
2012
—
$131M
—
—
18.3%
4.6%
$21M
$1.1B
$326M
2011
—
$112M
—
—
9.9%
3.8%
$49M
$845M
$481M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Sep '26
$476M
$92M
40.1%
27.6%
10.3%
4.6%
$72M
$470M
$71M
Jun '26
$472M
$97M
41.3%
28.3%
10.9%
4.8%
$70M
$492M
$79M
Mar '26
$410M
$67M
37.9%
23.0%
7.5%
3.4%
$14M
$479M
$80M
Dec '25
$388M
$66M
39.8%
23.7%
7.3%
3.4%
$62M
$407M
$113M
Sep '25
$425M
$86M
42.0%
27.6%
9.7%
4.6%
$100M
$409M
$90M
Jun '25
$425M
$88M
41.4%
29.0%
10.5%
4.7%
$62M
$484M
$81M
Mar '25
$383M
$69M
39.2%
25.7%
8.7%
3.7%
$22M
$520M
$83M
Dec '24
$368M
$62M
39.1%
22.3%
8.2%
3.4%
$58M
$525M
$79M
Sep '24
$387M
$77M
42.4%
28.8%
10.7%
4.3%
$77M
$556M
$74M
Jun '24
$365M
$66M
40.9%
26.0%
9.9%
3.6%
$37M
$644M
$74M
Mar '24
$326M
$60M
38.1%
26.4%
9.6%
3.5%
$12M
$581M
$70M
Dec '23
$312M
$47M
38.3%
21.2%
7.9%
2.8%
$33M
$587M
$71M
Sep '23
$347M
$70M
40.7%
28.9%
11.9%
4.1%
$64M
$622M
$97M
Jun '23
$325M
$60M
38.1%
26.7%
10.6%
3.5%
$49M
$652M
$102M
Mar '23
$310M
$47M
36.1%
22.6%
8.7%
2.8%
$4M
$666M
$96M
Dec '22
$305M
$49M
36.6%
23.2%
9.1%
2.9%
$35M
$651M
$106M
Sep '22
$325M
$58M
36.2%
22.6%
11.0%
3.3%
$38M
$683M
$87M
Jun '22
$321M
$52M
36.7%
22.3%
9.9%
3.0%
$31M
$669M
$79M
Mar '22
$283M
$44M
36.2%
22.4%
8.3%
2.6%
$5M
$640M
$76M
Dec '21
$283M
$42M
36.3%
19.6%
8.1%
2.5%
$17M
$631M
$98M
Valuation over time
How the market has priced AWI against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 14.7× (Mar '23) to 23.2× (Nov '26).
The price-to-sales ratio has risen from 2.4× (Mar '23) to 4.4× (Nov '26).
The dividend yield has fallen from 1.5% (Mar '23) to 0.8% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is AWI growing its revenue and profit?
Over the past 5 years, Armstrong World Industries Inc's revenue has grown 11.6% per year. These are computed facts, not advice.
How much debt does AWI have?
As of FY2025, Armstrong World Industries Inc reported $407M of total debt against $113M of cash; operating income covered interest expense 13×.
What is AWI's profit margin?
In FY2025, gross margin was 40.6%, operating margin 26.6%, and net margin 19.0%.
What is AWI's P/E ratio?
Armstrong World Industries Inc's P/E (TTM) is 22.30 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AWI stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 23.2× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.