AWI
Armstrong World Industries, Inc.
AWI's fundamentals are mixed: it turned 12% of its revenue into free cash flow, while its operating margin held steady at 26%. At 23x earnings, it's trading right at its usual valuation. Analysts expect earnings growth.
AWI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Healthy |
AWI's revenue, profitability, cash flow and balance sheet are all currently healthy.
AWI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $136 | -22% |
| Forward | 19x | $175 | — |
| Fair | 23x | $174 | -0.2% |
| Current | 23x | $175 | — |
| Expensive | 28x | $212 | +21% |
Historical ranges are pointers, not guarantees.
AWI's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 19x next year's earnings, in its cheap range.
AWI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for AWI, with profitability improving.
AWI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.20 | +23% |
| Q3 2026 | $7.49 | +7.3% |
| Q2 2026 | $7.30 | +8.1% |
| Q1 2026 | $7.05 | +13% |
| Q4 2025 | $7.08 | +18% |
| Q3 2025 | $6.98 | +23% |
| Q2 2025 | $6.75 | +23% |
| Q1 2025 | $6.24 | +18% |
| Q4 2024 | $6.02 | +21% |
AWI's earnings per share have climbed steadily: $7.49 over the past year, up 7.3% from the year before, and higher year over year for 23 quarters in a row.
AWI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $475.8M | +12% |
| Q2 2026 | $472M | +11% |
| Q1 2026 | $409.9M | +7.1% |
| Q4 2025 | $388.3M | +5.6% |
| Q3 2025 | $425.2M | +10% |
| Q2 2025 | $424.6M | +16% |
| Q1 2025 | $382.7M | +17% |
| Q4 2024 | $367.7M | +18% |
AWI's revenue has grown year over year for 23 quarters in a row: $476M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 28% | 0 points |
| Q2 2026 | 28% | -0.7 points |
| Q1 2026 | 23% | -2.8 points |
| Q4 2025 | 24% | +1.4 points |
| Q3 2025 | 28% | -1.2 points |
| Q2 2025 | 29% | +3 points |
| Q1 2025 | 26% | -0.7 points |
| Q4 2024 | 22% | +1 points |
AWI's operating margin was 28% last quarter, about level with the same quarter a year ago.
AWI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $71.5M | -29% |
| Q2 2026 | $69.8M | +13% |
| Q1 2026 | $14.4M | -34% |
| Q4 2025 | $62.2M | +7.6% |
| Q3 2025 | $100.3M | +30% |
| Q2 2025 | $61.7M | +65% |
| Q1 2025 | $21.9M | +87% |
| Q4 2024 | $57.8M | +73% |
AWI's free cash flow has been positive every quarter for seven years: $218M over the past year, down 9.8% from the year before.
AWI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -400K shares |
| 1 year | -3% | -1.3M shares |
| 3 years | -5.2% | -2.3M shares |
| 5 years | -12% | -5.5M shares |
| Available history | -15% | -7.2M shares |
AWI has 42M diluted shares, down 3% from a year ago, with $263M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $75.7M |
| Q2 2026 | $76.8M |
| Q1 2026 | $60.6M |
| Q4 2025 | $49.5M |
| Q3 2025 | $27M |
| Q2 2025 | $30.4M |
| Q1 2025 | $22M |
| Q4 2024 | $15M |
AWI spent $263M buying back its own shares over the past year, up 178% from the year before.
AWI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.7x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.5x | Very low |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 0.8x | Very low |
| Q1 2025 | 0.9x | Very low |
| Q4 2024 | 0.9x | Very low |
AWI's net debt is less than a year of its operating earnings (EBITDA).
AWI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.8 | Neutral |
| Stochastic | 53.0 | Neutral |
AWI's weekly RSI is 56 (neutral) and its Stochastic is 53 (neutral).
AWI PE vs Industrials Sector
| Metric | AWI | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 24x | 3% below |
| PE % | 50 | 58 | 8 pts below |
AWI is trading at 23x earnings, in line with the Industrials sector's median of 24x.
AWI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $167.1 | 4.5% above |
| 20 week MA | $168.0 | 4% above |
| 50 week MA | $172.7 | 1.1% above |
| 100 week MA | $169.1 | 3.3% above |
| 200 week MA | $134.3 | 30% above |
AWI is in an uptrend: it's above all five of its weekly moving averages, and 30% above its 200-week average.
AWI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $93.9 | $74.3 | -21% |
| 2021 | $74.3 | $114.1 | +54% |
| 2022 | $114.1 | $69.3 | -39% |
| 2023 | $69.3 | $98.3 | +42% |
| 2024 | $98.3 | $143.7 | +46% |
| 2025 | $143.7 | $192.3 | +34% |
| 2026 YTD | $192.3 | $174.7 | -9.2% |
AWI has finished higher in four of the last six years. It's down 9.2% so far in 2026.