AWI
Armstrong World Industries, Inc.
AWI has the edge over BA overall, supported by lower modeled downside and stronger modeled upside.
BA
The Boeing Company
BA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
AWI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Healthy |
AWI's revenue, profitability, cash flow and balance sheet are all currently healthy.
BA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Under pressure |
BA's profitability is currently healthy, and its revenue and cash flow are stable, but its balance sheet is under pressure.
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.
BA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $172 | — |
| Cheap | 51x | $496 | +189% |
| Fair | 82x | $790 | +360% |
| Expensive | 91x | $876 | +411% |
Historical ranges are pointers, not guarantees.
BA has the edge over AWI in the historical PE scenario, which offers more potential upside but is not a forecast.
AWI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for AWI, with profitability improving.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect BA to return to profit, with revenue growing. However, they disagree widely on these estimates.
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 has the edge over BA on earnings, with more consistent year-over-year improvement.
BA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $9.66 | +$23.38 |
| Q2 2026 | $2.78 | +$19.33 |
| Q1 2026 | $2.53 | +$20.49 |
| Q4 2025 | $2.48 | +$20.84 |
| Q3 2025 | -$13.72 | -$0.83 |
| Q2 2025 | -$16.55 | -$10.93 |
| Q1 2025 | -$17.96 | -$14.42 |
| Q4 2024 | -$18.36 | -$14.69 |
BA has returned to profit: it earned $9.66 per share over the past year, after losing money the year before.
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 has the edge over BA on profitability, with a higher operating margin.
BA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.2B | +3.9% |
| Q2 2026 | $24.6B | +8% |
| Q1 2026 | $22.2B | +14% |
| Q4 2025 | $23.9B | +57% |
| Q3 2025 | $23.3B | +30% |
| Q2 2025 | $22.7B | +35% |
| Q1 2025 | $19.5B | +18% |
| Q4 2024 | $15.2B | -31% |
BA's revenue has grown year over year for seven quarters in a row: $24.2B last quarter, up 3.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.5% | +22 points |
| Q2 2026 | 0.6% | +1.4 points |
| Q1 2026 | 2% | -0.3 points |
| Q4 2025 | 37% | +61 points |
| Q3 2025 | -21% | +12 points |
| Q2 2025 | -0.8% | +5.7 points |
| Q1 2025 | 2.4% | +2.9 points |
| Q4 2024 | -25% | -26 points |
BA's operating margin was 1.5% last quarter, up 22 points from 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.
BA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $464M | +95% |
| Q2 2026 | $631M | +$831M |
| Q1 2026 | -$1.5B | +$836M |
| Q4 2025 | $375M | +$4.5B |
| Q3 2025 | $238M | +$2.2B |
| Q2 2025 | -$200M | +$4.1B |
| Q1 2025 | -$2.3B | +$1.6B |
| Q4 2024 | -$4.1B | -239% |
BA has the edge over AWI on cash flow, with more consistent year-over-year improvement.
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 the edge over BA on shareholder dilution, with a more favorable share count trend.
| 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.
BA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +2.1M shares |
| 1 year | +4.3% | +32.8M shares |
| 3 years | +31% | +186M shares |
| 5 years | +35% | +204M shares |
| Available history | +40% | +227M shares |
BA has 793M diluted shares, up 4.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
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 has the edge over BA on leverage, with a lower net debt burden relative to earnings.
BA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 5.7x | High |
| Q1 2026 | 6.0x | High |
| Q4 2025 | 6.9x | High |
| Q2 2024 | 361.8x | High |
| Q1 2024 | 36.1x | High |
| Q4 2023 | 36.4x | High |
| Q3 2023 | 96.1x | High |
BA's net debt is about 3.0 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
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).
BA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.1 | Neutral |
| Stochastic | 9.6 | Oversold |
BA's weekly RSI is 31 (neutral) and its Stochastic is 10 (oversold).
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.
BA PE vs Industrials Sector
| Metric | BA | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 0 | 58 | 58 pts below |
BA has the edge over AWI on valuation relative to its sector.
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 has the edge over BA on trend strength, trading above more of its moving averages.
BA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $184.6 | 7.1% below |
| 20 week MA | $203.8 | 16% below |
| 50 week MA | $215.5 | 20% below |
| 100 week MA | $205.9 | 17% below |
| 200 week MA | $200.6 | 14% below |
BA is in a downtrend: it's below all five of its weekly moving averages, and 14% below 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 the edge over BA on returns for 2026, with the stronger performance.
BA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $330.1 | $217.2 | -34% |
| 2021 | $217.2 | $204.2 | -6% |
| 2022 | $204.2 | $189.1 | -7.4% |
| 2023 | $189.1 | $260.7 | +38% |
| 2024 | $260.7 | $180.7 | -31% |
| 2025 | $180.7 | $216.4 | +20% |
| 2026 YTD | $216.4 | $171.6 | -21% |
BA has finished lower in four of the last six years. It's down 21% so far in 2026.