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
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
FCF
Total debt
Cash
2025
$1.6B
$309M
40.6%
26.6%
$246M
$407M
$113M
2024
$1.4B
$265M
40.2%
25.9%
$184M
$525M
$79M
2023
$1.3B
$224M
38.4%
25.0%
$150M
$587M
$71M
2022
$1.2B
$203M
36.4%
22.6%
$108M
$651M
$106M
2021
$1.1B
$183M
36.7%
23.5%
$107M
$631M
$98M
2020
$937M
-$99M
35.6%
27.2%
$163M
$716M
$137M
2019
$1.0B
$215M
38.1%
30.6%
$111M
$611M
$45M
2018
$975M
$186M
34.2%
25.6%
$131M
$820M
$326M
2017
$894M
$120M
35.3%
27.3%
$81M
$850M
$160M
2016
$837M
$105M
36.7%
23.4%
-$55M
$874M
$142M
2015
—
$94M
—
—
$33M
$988M
$209M
2014
—
$64M
—
—
-$14M
$1.0B
$140M
2013
—
$94M
—
—
$0
$1.1B
$112M
2012
—
$131M
—
—
$21M
$1.1B
$326M
2011
—
$112M
—
—
$49M
$845M
$481M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$410M
$67M
37.9%
23.0%
$14M
$479M
$80M
Dec '25
$388M
$66M
39.8%
23.7%
$62M
$407M
$113M
Sep '25
$425M
$86M
42.0%
27.6%
$100M
$409M
$90M
Jun '25
$425M
$88M
41.4%
29.0%
$62M
$484M
$81M
Mar '25
$383M
$69M
39.2%
25.7%
$22M
$520M
$83M
Dec '24
$368M
$62M
39.1%
22.3%
$58M
$525M
$79M
Sep '24
$387M
$77M
42.4%
28.8%
$77M
$556M
$74M
Jun '24
$365M
$66M
40.9%
26.0%
$37M
$644M
$74M
Mar '24
$326M
$60M
38.1%
26.4%
$12M
$581M
$70M
Dec '23
$312M
$47M
38.3%
21.2%
$33M
$587M
$71M
Sep '23
$347M
$70M
40.7%
28.9%
$64M
$622M
$97M
Jun '23
$325M
$60M
38.1%
26.7%
$49M
$652M
$102M
Mar '23
$310M
$47M
36.1%
22.6%
$4M
$666M
$96M
Dec '22
$305M
$49M
36.6%
23.2%
$35M
$651M
$106M
Sep '22
$325M
$58M
36.2%
22.6%
$38M
$683M
$87M
Jun '22
$321M
$52M
36.7%
22.3%
$31M
$669M
$79M
Mar '22
$283M
$44M
36.2%
22.4%
$5M
$640M
$76M
Dec '21
$283M
$42M
36.3%
19.6%
$17M
$631M
$98M
Sep '21
$292M
$51M
37.9%
24.7%
$39M
$627M
$94M
Jun '21
$280M
$55M
37.5%
28.0%
$45M
$678M
$119M
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 15.0× (Mar '23) to 22.3× (Jun '26).
The price-to-sales ratio has risen from 2.5× (Mar '23) to 4.3× (Jun '26).
The dividend yield has fallen from 1.5% (Mar '23) to 0.8% (Jun '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?
As of Jun '26, Armstrong World Industries Inc traded at a price-to-earnings ratio of about 22.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.