Armstrong World Industries (AWI) Financials

$135.40 +0.37 (+0.27%)

As of 03:04 PM Eastern

Annual Income Statements for Armstrong World Industries

This table shows Armstrong World Industries' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	94	105	120	121	215	-99	183	203	224	265
Consolidated Net Income / (Loss)	94	105	120	186	215	-99	183	203	224	265
Net Income / (Loss) Continuing Operations	58	99	221	190	242	-84	185	200	224	265
Total Pre-Tax Income	95	151	222	243	299	-127	243	258	298	347
Total Operating Income	91	123	244	175	317	191	260	279	324	374
Total Gross Profit	306	307	315	334	395	333	406	449	497	582
Total Revenue	805	837	894	975	1,038	937	1,107	1,233	1,295	1,446
Operating Revenue	805	837	894	975	1,038	937	1,107	1,233	1,295	1,446
Total Cost of Revenue	499	530	578	642	643	604	701	784	798	864
Operating Cost of Revenue	499	530	578	642	643	604	701	784	798	864
Total Operating Expenses	215	184	72	159	78	142	146	170	173	207
Selling, General & Admin Expense	181	184	139	159	174	163	237	237	263	309
Other Operating Expenses / (Income)	-	-	-67	-	-97	-	-88	-78	-89	-103
Other Special Charges / (Income)	-	-	-	0.00	0.00	0.10	-4.10	11	0.10	2.20
Total Other Income / (Expense), net	3.70	28	-22	3.20	-18	-318	-17	-21	-25	-27
Interest Expense	45	50	35	39	38	24	23	27	35	40
Other Income / (Expense), net	-18	4.20	14	33	20	-357	-5.60	6.00	-9.90	13
Income Tax Expense	37	51	1.50	53	57	-43	57	58	75	82
Net Income / (Loss) Discontinued Operations	36	5.40	-101	-3.70	-28	-15	-2.10	3.00	0.00	0.00
Basic Earnings per Share	$1.69	$1.88	$2.23	$3.61	$4.40	($2.07)	$3.84	$4.38	$5.00	$6.06
Weighted Average Basic Shares Outstanding	55.50M	55.40M	53.30M	51.30M	48.70M	47.90M	47.60M	46.30M	44.70M	43.70M
Diluted Earnings per Share	$1.68	$1.87	$2.21	$3.56	$4.32	($2.07)	$3.82	$4.37	$4.99	$6.02
Weighted Average Diluted Shares Outstanding	55.90M	55.70M	53.90M	52.10M	49.50M	47.90M	47.90M	46.40M	44.80M	44M
Weighted Average Basic & Diluted Shares Outstanding	55.70M	55.70M	53.60M	51.50M	48.80M	47.79M	47.08M	45.44M	43.81M	43.46M
Cash Dividends to Common per Share	-	-	-	$0.18	$0.73	$0.81	$0.86	$0.95	$1.04	$1.15

This table shows Armstrong World Industries' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	58	49	47	60	70	47	60	66	77	62
Consolidated Net Income / (Loss)	58	49	47	60	70	47	60	66	77	62
Net Income / (Loss) Continuing Operations	55	49	47	60	70	47	60	66	77	62
Total Pre-Tax Income	68	63	64	80	94	61	80	87	104	76
Total Operating Income	73	89	70	87	100	66	86	95	111	82
Total Gross Profit	118	112	112	124	141	120	124	149	164	144
Total Revenue	325	305	310	325	347	312	326	365	387	368
Operating Revenue	325	305	310	325	347	312	326	365	387	368
Total Cost of Revenue	208	193	198	201	206	193	202	216	223	224
Operating Cost of Revenue	208	193	198	201	206	193	202	216	223	224
Total Operating Expenses	44	23	42	37	41	53	38	54	52	62
Selling, General & Admin Expense	59	59	63	62	65	73	66	80	78	85
Other Operating Expenses / (Income)	-22	-	-21	-25	-23	-20	-27	-26	-25	-25
Other Special Charges / (Income)	7.10	-2.30	0.00	0.00	0.00	0.10	-0.30	0.70	0.20	1.60
Total Other Income / (Expense), net	-5.60	-26	-6.30	-7.00	-6.50	-5.60	-5.90	-7.90	-7.50	-5.90
Interest Expense	7.00	9.20	8.70	9.20	8.80	8.60	9.00	11	11	9.20
Other Income / (Expense), net	-1.40	7.50	-2.40	2.20	2.30	-12	-3.10	-3.20	3.00	16
Income Tax Expense	13	15	17	20	24	14	20	21	27	14
Basic Earnings per Share	$1.25	$1.07	$1.04	$1.34	$1.56	$1.06	$1.37	$1.50	$1.76	$1.43
Weighted Average Basic Shares Outstanding	46.10M	46.30M	45.40M	44.90M	44.50M	44.70M	43.80M	43.80M	43.70M	43.70M
Diluted Earnings per Share	$1.25	$1.07	$1.04	$1.34	$1.56	$1.05	$1.36	$1.50	$1.75	$1.41
Weighted Average Diluted Shares Outstanding	46.10M	46.40M	45.50M	45M	44.60M	44.80M	44.10M	44M	43.90M	44M
Weighted Average Basic & Diluted Shares Outstanding	45.66M	45.44M	45.12M	44.72M	44.18M	43.81M	43.76M	43.70M	43.59M	43.46M

This table details how cash moves in and out of Armstrong World Industries' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	60	-103	14	184	-290	92	-39	7.90	-35	8.50
Net Cash From Operating Activities	204	49	170	203	183	219	187	182	234	267
Net Cash From Continuing Operating Activities	204	49	170	203	183	219	187	182	234	267
Net Income / (Loss) Continuing Operations	94	105	120	186	215	-99	183	203	224	265
Consolidated Net Income / (Loss)	94	105	120	186	215	-99	183	203	224	265
Depreciation Expense	118	89	89	79	72	84	97	84	89	103
Non-Cash Adjustments To Reconcile Net Income	27	-3.40	48	-65	-58	307	-75	-64	-76	-85
Changes in Operating Assets and Liabilities, net	-36	-141	-86	2.90	-46	-73	-18	-40	-3.50	-17
Net Cash From Investing Activities	-102	-17	-54	310	-89	-141	-14	28	-10	-79
Net Cash From Continuing Investing Activities	-102	-17	-54	310	-89	-141	-14	28	-10	-79
Purchase of Property, Plant & Equipment	-171	-104	-90	-72	-71	-55	-80	-75	-84	-83
Acquisitions	-	-	-31	-22	-56	-165	-0.70	-2.80	0.00	-129
Sale of Property, Plant & Equipment	-	-	-	0.00	0.00	22	0.10	0.00	0.00	24
Sale and/or Maturity of Investments	64	87	69	142	85	82	78	105	97	98
Other Investing Activities, net	5.00	0.30	-2.40	-68	-47	-24	-12	1.30	3.00	10
Net Cash From Financing Activities	-32	-129	-103	-329	-385	14	-212	-202	-259	-178
Net Cash From Continuing Financing Activities	-32	-129	-103	-329	-385	14	-212	-202	-259	-178
Repayment of Debt	-40	-532	-129	-33	-898	-216	-180	-787	-120	-201
Repurchase of Common Equity	-	-44	-80	-307	-131	-44	-80	-165	-132	-55
Payment of Dividends	-1.20	-	0.00	-8.60	-36	-39	-41	-44	-47	-51
Issuance of Debt	2.00	456	103	0.00	685	320	95	805	55	138
Other Financing Activities, net	6.40	-8.40	3.30	18	-4.70	-6.60	-5.70	-11	-15	-9.50
Effect of Exchange Rate Changes	-10	-6.30	-	-	0.90	0.40	0.00	-0.80	-	-1.40
Cash Interest Paid	39	33	31	30	33	24	22	27	34	37
Cash Income Taxes Paid	44	34	32	52	58	11	53	63	72	88

This table details how cash moves in and out of Armstrong World Industries' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	7.50	19	-10	5.60	-5.00	-26	-1.20	4.00	0.10	5.60
Net Cash From Operating Activities	56	63	26	68	83	57	26	57	97	87
Net Cash From Continuing Operating Activities	56	63	26	68	83	57	26	57	97	87
Net Income / (Loss) Continuing Operations	58	49	47	60	70	47	60	66	77	62
Consolidated Net Income / (Loss)	58	49	47	60	70	47	60	66	77	62
Depreciation Expense	21	20	21	22	23	23	24	26	26	27
Non-Cash Adjustments To Reconcile Net Income	-19	-12	-22	-21	-20	-14	-23	-22	-20	-20
Changes in Operating Assets and Liabilities, net	-4.30	5.90	-20	6.20	9.90	0.40	-35	-12	13	17
Net Cash From Investing Activities	9.70	20	-1.50	-4.50	-4.60	0.20	5.90	-87	20	-18
Net Cash From Continuing Investing Activities	9.70	20	-1.50	-4.50	-4.60	0.20	5.90	-87	20	-18
Purchase of Property, Plant & Equipment	-19	-28	-22	-19	-19	-24	-15	-20	-19	-29
Acquisitions	-	-2.80	0.00	-10	-14	24	-5.50	-	-	-124
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	-	9.40	13
Sale and/or Maturity of Investments	28	50	21	24	28	25	23	-71	27	119
Other Investing Activities, net	0.50	0.80	0.00	0.90	-	2.10	2.70	1.60	3.30	2.80
Net Cash From Financing Activities	-57	-64	-35	-58	-83	-84	-33	34	-117	-62
Net Cash From Continuing Financing Activities	-57	-64	-35	-58	-83	-84	-33	34	-117	-62
Repayment of Debt	-41	-708	-10	-20	-30	-60	-31	-51	-89	-31
Repurchase of Common Equity	-60	-20	-27	-30	-40	-35	-15	-10	-15	-15
Payment of Dividends	-11	-12	-12	-12	-11	-13	-12	-13	-12	-14
Other Financing Activities, net	-0.60	0.40	-11	-1.40	-1.20	-1.00	-0.20	-5.50	-1.00	-2.80
Effect of Exchange Rate Changes	-0.90	0.20	0.00	0.30	-0.40	-	-0.40	-0.20	0.20	-1.00
Cash Interest Paid	6.70	9.90	8.40	8.90	8.60	8.00	8.50	11	9.80	8.60
Cash Income Taxes Paid	19	11	1.50	31	18	21	1.70	43	22	22

This table presents Armstrong World Industries' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	2,687	1,758	1,874	1,838	1,493	1,719	1,710	1,687	1,672	1,843
Total Current Assets	881	406	649	718	244	312	322	357	313	349
Cash & Equivalents	209	142	160	326	45	137	98	106	71	79
Note & Lease Receivable	-	-	-	80	85	78	109	112	111	134
Inventories, net	101	47	54	61	69	82	90	110	104	110
Current Deferred & Refundable Income Taxes	41	22	31	1.70	30	2.30	1.40	1.80	0.80	3.90
Other Current Assets	34	11	7.90	4.80	16	13	23	26	26	22
Plant, Property, & Equipment, net	648	465	500	501	525	530	543	554	566	599
Total Noncurrent Assets	1,158	887	725	620	724	877	845	776	793	895
Long-Term Investments	131	106	107	41	59	41	50	24	17	27
Noncurrent Note & Lease Receivables	-	-	-	-	0.00	20	18	16	25	35
Goodwill	-	428	441	19	53	161	167	167	176	203
Intangible Assets	447	-	-	423	412	458	421	408	412	455
Employee Benefit Assets	8.30	49	88	53	95	120	109	83	85	88
Other Noncurrent Operating Assets	57	63	64	69	93	77	79	78	78	87
Total Liabilities & Shareholders' Equity	2,687	1,758	1,874	1,838	1,493	1,719	1,710	1,687	1,672	1,843
Total Liabilities	1,918	1,492	1,454	1,612	1,128	1,268	1,190	1,152	1,081	1,086
Total Current Liabilities	436	224	270	550	155	172	210	183	195	250
Short-Term Debt	52	25	33	55	6.30	25	25	0.00	23	23
Accounts Payable	231	117	108	383	144	137	175	173	160	215
Current Deferred & Payable Income Tax Liabilities	3.80	1.30	0.50	0.90	0.20	4.00	1.90	2.10	2.30	0.00
Other Current Liabilities	-	-	-	-	5.20	6.80	7.80	8.10	9.80	12
Total Noncurrent Liabilities	1,482	1,268	1,184	1,063	973	1,095	981	970	886	836
Long-Term Debt	936	849	818	765	605	691	606	651	564	503
Noncurrent Deferred Revenue	92	62	53	27	19	21	20	13	15	15
Noncurrent Deferred & Payable Income Tax Liabilities	107	154	142	124	164	158	167	169	167	167
Noncurrent Employee Benefit Liabilities	149	142	136	109	118	115	108	82	69	60
Other Noncurrent Operating Liabilities	43	27	36	38	68	110	79	54	71	91
Total Equity & Noncontrolling Interests	769	266	419	226	365	451	520	535	592	757
Total Preferred & Common Equity	769	266	419	226	365	451	520	535	592	757
Total Common Equity	769	266	419	226	365	451	520	535	592	757
Common Stock	1,152	506	517	548	556	554	562	574	592	605
Retained Earnings	365	470	633	830	1,008	870	1,011	1,170	1,347	1,561
Treasury Stock	-261	-305	-386	-692	-824	-864	-944	-1,109	-1,242	-1,298
Accumulated Other Comprehensive Income / (Loss)	-487	-404	-346	-460	-376	-109	-110	-100	-105	-110

This table presents Armstrong World Industries' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,739	1,688	1,712	1,714	1,692	1,820	1,804
Total Current Assets	352	362	362	350	331	351	358
Cash & Equivalents	87	96	102	97	70	74	74
Note & Lease Receivable	119	122	117	117	125	136	131
Inventories, net	115	113	109	107	106	114	116
Current Deferred & Refundable Income Taxes	6.90	0.30	3.60	2.00	0.40	4.00	3.50
Other Current Assets	24	30	31	28	29	24	34
Plant, Property, & Equipment, net	541	560	559	559	560	599	577
Total Noncurrent Assets	846	766	791	805	801	870	869
Long-Term Investments	58	25	26	21	26	30	28
Noncurrent Note & Lease Receivables	17	16	18	26	28	27	26
Goodwill	167	167	167	175	175	194	195
Intangible Assets	409	405	412	414	409	443	439
Noncurrent Deferred & Refundable Income Taxes	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Employee Benefit Assets	113	85	87	88	86	88	89
Other Noncurrent Operating Assets	83	69	81	80	77	88	92
Total Liabilities & Shareholders' Equity	1,739	1,688	1,712	1,714	1,692	1,820	1,804
Total Liabilities	1,218	1,143	1,146	1,128	1,065	1,151	1,087
Total Current Liabilities	212	166	177	186	184	200	218
Short-Term Debt	25	5.60	11	17	23	23	23
Accounts Payable	179	137	148	150	131	163	180
Current Deferred & Payable Income Tax Liabilities	0.40	16	7.60	8.40	21	3.50	4.80
Other Current Liabilities	8.30	7.90	9.70	10	9.90	11	11
Total Noncurrent Liabilities	1,006	977	969	943	880	951	869
Long-Term Debt	658	661	640	605	559	622	533
Noncurrent Deferred Revenue	13	14	14	15	16	16	17
Noncurrent Deferred & Payable Income Tax Liabilities	175	168	168	170	166	165	166
Noncurrent Employee Benefit Liabilities	104	82	81	79	69	67	65
Other Noncurrent Operating Liabilities	56	52	66	74	71	82	88
Total Equity & Noncontrolling Interests	521	545	567	586	627	669	717
Total Preferred & Common Equity	521	545	567	586	627	669	717
Total Common Equity	521	545	567	586	627	669	717
Common Stock	570	578	581	585	596	596	601
Retained Earnings	1,133	1,206	1,254	1,312	1,394	1,448	1,512
Treasury Stock	-1,089	-1,136	-1,167	-1,207	-1,258	-1,268	-1,283
Accumulated Other Comprehensive Income / (Loss)	-93	-102	-102	-104	-106	-107	-113

This table displays calculated financial ratios and metrics derived from Armstrong World Industries' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-37.80%	4.00%	6.72%	9.14%	6.44%	-9.75%	18.11%	11.43%	5.04%	11.62%
EBITDA Growth	-26.01%	12.96%	60.36%	-17.39%	43.12%	-120.15%	524.82%	4.99%	9.39%	21.61%
EBIT Growth	-43.46%	73.73%	102.76%	-19.61%	63.19%	-149.32%	252.70%	11.91%	10.22%	23.30%
NOPAT Growth	-21.52%	45.54%	199.07%	-43.70%	88.43%	-48.00%	48.63%	8.95%	12.29%	17.62%
Net Income Growth	47.65%	11.15%	14.23%	55.43%	15.38%	-146.20%	284.86%	10.75%	10.30%	18.36%
EPS Growth	47.65%	11.31%	18.18%	61.09%	21.35%	-147.92%	284.54%	14.40%	14.19%	20.64%
Operating Cash Flow Growth	-2.44%	-75.80%	245.64%	19.25%	-10.09%	19.76%	-14.44%	-2.56%	28.02%	14.26%
Free Cash Flow Firm Growth	208.17%	-54.52%	-70.94%	436.43%	-116.76%	124.61%	971.14%	-11.28%	27.95%	-3.98%
Invested Capital Growth	-38.56%	-21.97%	24.92%	-33.90%	59.89%	13.35%	1.49%	5.30%	3.24%	7.82%
Revenue Q/Q Growth	43.84%	52.71%	54.07%	2.59%	0.78%	-0.87%	4.12%	1.82%	0.61%	3.98%
EBITDA Q/Q Growth	5.63%	12.37%	30.24%	-19.75%	36.41%	-203.51%	21.00%	15.23%	-6.24%	5.97%
EBIT Q/Q Growth	16.03%	39.71%	39.79%	-23.08%	46.74%	-11,006.67%	31.61%	21.67%	-8.73%	6.53%
NOPAT Q/Q Growth	152.79%	15.24%	92.07%	-45.68%	55.12%	-46.39%	41.51%	12.15%	-6.52%	5.91%
Net Income Q/Q Growth	-9.77%	64.11%	-19.30%	24.10%	6.50%	-33.56%	11.64%	3.52%	-0.89%	6.17%
EPS Q/Q Growth	-9.77%	62.61%	-21.07%	20.68%	6.67%	0.00%	0.00%	4.55%	-0.40%	6.36%
Operating Cash Flow Q/Q Growth	-15.72%	-13.66%	8.67%	-9.49%	10.33%	4.34%	-10.13%	8.25%	-2.55%	12.43%
Free Cash Flow Firm Q/Q Growth	285.23%	-56.63%	1,643.54%	-38.13%	35.31%	-89.46%	131.55%	21.21%	-9.28%	6.56%
Invested Capital Q/Q Growth	-40.24%	-24.18%	-17.67%	-6.10%	2.08%	5.09%	0.17%	-0.32%	0.09%	0.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.01%	36.67%	35.30%	34.19%	38.06%	35.55%	36.65%	36.42%	38.37%	40.23%
EBITDA Margin	23.77%	25.82%	38.80%	29.37%	39.49%	-8.82%	31.71%	29.88%	31.11%	33.90%
Operating Margin	11.29%	14.67%	27.28%	17.89%	30.58%	20.37%	23.50%	22.60%	24.99%	25.89%
EBIT Margin	9.08%	15.17%	28.82%	21.22%	32.54%	-17.78%	22.99%	23.09%	24.23%	26.76%
Profit (Net Income) Margin	11.70%	12.50%	13.38%	19.06%	20.66%	-10.58%	16.56%	16.45%	17.28%	18.32%
Tax Burden Percent	99.58%	69.52%	53.85%	76.60%	71.64%	78.22%	75.48%	78.77%	75.03%	76.32%
Interest Burden Percent	129.41%	118.58%	86.25%	117.25%	88.63%	76.05%	95.40%	90.48%	95.06%	89.71%
Effective Tax Rate	38.79%	34.06%	0.68%	21.88%	19.07%	0.00%	23.65%	22.40%	24.97%	23.68%
Return on Invested Capital (ROIC)	5.00%	10.75%	32.60%	19.90%	36.25%	14.36%	19.94%	21.01%	22.63%	25.21%
ROIC Less NNEP Spread (ROIC-NNEP)	14.58%	20.81%	1.95%	33.57%	26.00%	-30.19%	16.94%	18.34%	18.89%	20.69%
Return on Net Nonoperating Assets (RNNOA)	8.28%	9.48%	2.28%	37.72%	36.35%	-38.65%	17.81%	17.47%	17.10%	14.07%
Return on Equity (ROE)	13.29%	20.23%	34.88%	57.62%	72.60%	-24.30%	37.75%	38.48%	39.72%	39.28%
Cash Return on Invested Capital (CROIC)	52.77%	35.42%	10.44%	60.72%	-9.84%	1.85%	18.46%	15.84%	19.44%	17.68%
Operating Return on Assets (OROA)	2.76%	5.71%	14.18%	11.15%	20.28%	-10.37%	14.84%	16.76%	18.68%	22.01%
Return on Assets (ROA)	3.56%	4.71%	6.59%	10.02%	12.88%	-6.17%	10.69%	11.95%	13.32%	15.07%
Return on Common Equity (ROCE)	13.29%	20.23%	34.88%	57.62%	72.60%	-24.30%	37.75%	38.48%	39.72%	39.28%
Return on Equity Simple (ROE_SIMPLE)	12.25%	39.30%	28.52%	82.26%	58.78%	-21.98%	35.25%	37.93%	37.82%	34.99%
Net Operating Profit after Tax (NOPAT)	56	81	242	136	257	134	199	216	243	286
NOPAT Margin	6.91%	9.67%	27.10%	13.98%	24.74%	14.26%	17.94%	17.54%	18.75%	19.76%
Net Nonoperating Expense Percent (NNEP)	-9.57%	-10.07%	30.65%	-13.68%	10.25%	44.55%	3.00%	2.66%	3.74%	4.53%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	18.23%	20.61%	22.28%
Cost of Revenue to Revenue	61.99%	63.33%	64.70%	65.81%	61.94%	64.45%	63.35%	63.58%	61.63%	59.77%
SG&A Expenses to Revenue	22.46%	22.00%	15.51%	16.30%	16.79%	17.42%	21.45%	19.22%	20.27%	21.34%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.72%	22.00%	8.01%	16.30%	7.48%	15.19%	13.16%	13.82%	13.38%	14.34%
Earnings before Interest and Taxes (EBIT)	73	127	258	207	338	-167	254	285	314	387
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	191	216	347	286	410	-83	351	368	403	490
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.09	8.13	7.16	12.53	11.86	7.58	10.27	5.72	7.27	8.14
Price to Tangible Book Value (P/TBV)	7.39	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,103.75	62.29
Price to Revenue (P/Rev)	2.95	2.59	3.36	2.90	4.17	3.65	4.82	2.48	3.32	4.26
Price to Earnings (P/E)	25.24	20.69	25.10	23.42	20.18	0.00	29.13	15.08	19.23	23.26
Dividend Yield	0.00%	0.00%	0.00%	0.32%	1.01%	1.13%	0.77%	1.41%	1.07%	0.81%
Earnings Yield	3.96%	4.83%	3.98%	4.27%	4.96%	0.00%	3.43%	6.63%	5.20%	4.30%
Enterprise Value to Invested Capital (EV/IC)	3.58	4.23	4.35	6.02	5.54	4.00	5.80	3.39	4.41	5.60
Enterprise Value to Revenue (EV/Rev)	3.76	3.33	4.01	3.37	4.66	4.22	5.26	2.90	3.71	4.55
Enterprise Value to EBITDA (EV/EBITDA)	15.81	12.91	10.34	11.47	11.79	0.00	16.59	9.72	11.92	13.42
Enterprise Value to EBIT (EV/EBIT)	41.39	21.98	13.93	15.87	14.31	0.00	22.88	12.58	15.31	17.00
Enterprise Value to NOPAT (EV/NOPAT)	54.38	34.48	14.81	24.10	18.82	29.61	29.32	16.56	19.78	23.03
Enterprise Value to Operating Cash Flow (EV/OCF)	14.85	56.63	21.04	16.17	26.46	18.08	31.09	19.64	20.57	24.66
Enterprise Value to Free Cash Flow (EV/FCFF)	5.16	10.46	46.24	7.90	0.00	230.48	31.67	21.96	23.02	32.84
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.29	3.28	2.03	3.63	1.67	1.59	1.21	1.22	0.99	0.69
Long-Term Debt to Equity	1.22	3.19	1.95	3.38	1.66	1.53	1.17	1.22	0.95	0.66
Financial Leverage	0.57	0.46	1.17	1.12	1.40	1.28	1.05	0.95	0.91	0.68
Leverage Ratio	3.73	4.29	5.30	5.75	5.64	3.94	3.53	3.22	2.98	2.61
Compound Leverage Factor	4.83	5.09	4.57	6.74	5.00	2.99	3.37	2.91	2.83	2.34
Debt to Total Capital	56.25%	76.63%	66.97%	78.39%	62.60%	61.34%	54.85%	54.89%	49.79%	40.95%
Short-Term Debt to Total Capital	2.97%	2.19%	2.56%	5.26%	0.65%	2.14%	2.17%	0.00%	1.91%	1.75%
Long-Term Debt to Total Capital	53.28%	74.44%	64.41%	73.13%	61.96%	59.20%	52.68%	54.89%	47.88%	39.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	43.75%	23.37%	33.03%	21.61%	37.40%	38.66%	45.15%	45.11%	50.21%	59.05%
Debt to EBITDA	5.16	4.04	2.45	2.86	1.49	-8.66	1.80	1.77	1.46	1.07
Net Debt to EBITDA	3.39	2.89	1.68	1.58	1.24	-6.51	1.38	1.41	1.24	0.85
Long-Term Debt to EBITDA	4.89	3.93	2.36	2.67	1.47	-8.36	1.73	1.77	1.40	1.03
Debt to NOPAT	17.76	10.79	3.51	6.01	2.38	5.36	3.18	3.01	2.42	1.84
Net Debt to NOPAT	11.65	7.73	2.41	3.33	1.97	4.02	2.43	2.41	2.05	1.47
Long-Term Debt to NOPAT	16.83	10.48	3.38	5.61	2.35	5.17	3.05	3.01	2.32	1.76
Altman Z-Score	1.52	2.08	2.89	2.70	4.76	2.65	4.74	3.98	5.00	6.13
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.02	1.81	2.40	1.31	1.57	1.81	1.54	1.95	1.61	1.40
Quick Ratio	0.74	0.90	0.93	0.74	0.84	1.25	0.99	1.20	0.93	0.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	587	267	78	416	-70	17	184	163	209	200
Operating Cash Flow to CapEx	119.33%	47.31%	189.97%	282.61%	256.24%	649.26%	234.88%	243.85%	278.64%	456.07%
Free Cash Flow to Firm to Interest Expense	13.16	5.39	2.19	10.61	-1.82	0.71	8.03	6.02	5.91	5.03
Operating Cash Flow to Interest Expense	4.57	1.00	4.81	5.18	4.76	9.08	8.17	6.73	6.61	6.70
Operating Cash Flow Less CapEx to Interest Expense	0.74	-1.11	2.28	3.35	2.90	7.68	4.69	3.97	4.24	5.23
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.30	0.38	0.49	0.53	0.62	0.58	0.65	0.73	0.77	0.82
Accounts Receivable Turnover	5.20	9.67	11.95	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	2.28	7.15	11.48	11.16	9.92	8.05	8.17	7.83	7.46	8.08
Fixed Asset Turnover	0.94	1.50	1.85	1.95	2.02	1.78	2.06	2.25	2.31	2.48
Accounts Payable Turnover	1.73	3.05	5.13	2.61	2.44	4.31	4.50	4.51	4.80	4.61
Days Sales Outstanding (DSO)	70.16	37.73	30.55	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	159.76	51.04	31.78	32.70	36.81	45.34	44.70	46.60	48.93	45.16
Days Payable Outstanding (DPO)	210.84	119.80	71.14	139.82	149.52	84.63	81.07	80.87	76.00	79.24
Cash Conversion Cycle (CCC)	19.08	-31.03	-8.81	-107.12	-112.71	-39.29	-36.37	-34.27	-27.07	-34.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	846	660	825	545	872	988	1,003	1,056	1,090	1,176
Invested Capital Turnover	0.72	1.11	1.20	1.42	1.47	1.01	1.11	1.20	1.21	1.28
Increase / (Decrease) in Invested Capital	-531	-186	165	-280	327	116	15	53	34	85
Enterprise Value (EV)	3,026	2,792	3,586	3,285	4,835	3,955	5,821	3,582	4,803	6,579
Market Capitalization	2,377	2,167	3,002	2,832	4,328	3,418	5,337	3,061	4,305	6,160
Book Value per Share	$13.89	$4.83	$7.94	$4.41	$7.52	$9.42	$10.95	$11.72	$13.40	$17.37
Tangible Book Value per Share	$5.81	($2.92)	($0.41)	($4.21)	($2.06)	($3.50)	($1.45)	($0.88)	$0.09	$2.27
Total Capital	1,757	1,140	1,270	1,046	976	1,166	1,151	1,186	1,179	1,282
Total Debt	988	874	850	820	611	716	631	651	587	525
Total Long-Term Debt	936	849	818	765	605	691	606	651	564	503
Net Debt	648	626	583	453	507	537	483	521	499	419
Capital Expenditures (CapEx)	171	104	90	72	71	34	80	75	84	59
Debt-free, Cash-free Net Working Capital (DFCFNWC)	287	65	252	-103	50	28	39	68	70	42
Debt-free Net Working Capital (DFNWC)	497	207	412	223	96	165	137	174	141	122
Net Working Capital (NWC)	445	182	379	168	89	140	112	174	119	99
Net Nonoperating Expense (NNE)	-39	-24	123	-50	42	233	15	13	19	21
Net Nonoperating Obligations (NNO)	78	394	406	319	507	537	483	521	499	419
Total Depreciation and Amortization (D&A)	118	89	89	79	72	84	97	84	89	103
Debt-free, Cash-free Net Working Capital to Revenue	35.69%	7.79%	28.19%	-10.52%	4.84%	2.95%	3.54%	5.50%	5.42%	2.93%
Debt-free Net Working Capital to Revenue	61.68%	24.73%	46.05%	22.88%	9.20%	17.56%	12.41%	14.09%	10.89%	8.42%
Net Working Capital to Revenue	55.21%	21.75%	42.41%	17.24%	8.59%	14.89%	10.15%	14.09%	9.15%	6.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.46	$1.88	$2.89	$3.61	$4.40	($2.07)	$3.84	$4.38	$5.00	$6.06
Adjusted Weighted Average Basic Shares Outstanding	64.16M	55.40M	53.30M	51.30M	48.70M	47.90M	47.60M	46.30M	44.70M	43.70M
Adjusted Diluted Earnings per Share	$1.45	$1.87	$2.86	$3.56	$4.32	($2.07)	$3.82	$4.37	$4.99	$6.02
Adjusted Weighted Average Diluted Shares Outstanding	64.63M	55.70M	53.90M	52.10M	49.50M	47.90M	47.90M	46.40M	44.80M	44M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	64.04M	53.84M	53.11M	48.50M	47.99M	47.79M	47.08M	45.44M	43.81M	43.46M
Normalized Net Operating Profit after Tax (NOPAT)	77	81	242	136	257	119	195	225	243	287
Normalized NOPAT Margin	9.52%	9.67%	27.10%	13.98%	24.74%	12.69%	17.66%	18.23%	18.76%	19.88%
Pre Tax Income Margin	11.75%	17.99%	24.85%	24.88%	28.84%	-13.52%	21.93%	20.89%	23.03%	24.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.64	2.57	7.27	5.28	8.80	-6.91	11.11	10.51	8.89	9.72
NOPAT to Interest Expense	1.25	1.64	6.84	3.48	6.69	5.54	8.67	7.98	6.88	7.18
EBIT Less CapEx to Interest Expense	-2.19	0.46	4.74	3.45	6.94	-8.31	7.63	7.75	6.52	8.25
NOPAT Less CapEx to Interest Expense	-2.58	-0.47	4.31	1.64	4.83	4.14	5.19	5.22	4.51	5.71
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	1.27%	0.00%	0.00%	4.63%	16.60%	-39.56%	22.60%	21.78%	20.96%	19.10%
Augmented Payout Ratio	1.27%	41.83%	67.22%	169.55%	77.81%	-84.36%	66.27%	103.11%	79.94%	39.86%

This table displays calculated financial ratios and metrics derived from Armstrong World Industries' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.23%	7.79%	9.77%	1.37%	6.86%	2.56%	5.19%	12.20%	11.32%	17.74%
EBITDA Growth	-3.32%	71.83%	31.41%	22.28%	34.19%	-33.30%	20.97%	5.30%	12.14%	61.00%
EBIT Growth	-2.18%	111.18%	46.44%	27.07%	42.56%	-43.61%	22.42%	2.91%	11.51%	80.11%
NOPAT Growth	8.59%	51.02%	54.49%	17.71%	25.95%	-25.33%	23.75%	9.79%	10.95%	31.13%
Net Income Growth	13.19%	16.47%	6.53%	15.33%	20.87%	-4.10%	26.64%	9.47%	10.65%	32.91%
EPS Growth	17.92%	21.59%	10.64%	20.72%	24.80%	-1.87%	30.77%	11.94%	12.18%	34.29%
Operating Cash Flow Growth	0.18%	28.19%	56.89%	45.91%	47.06%	-9.65%	0.76%	-15.36%	16.97%	51.66%
Free Cash Flow Firm Growth	110.80%	-50.18%	29.25%	209.91%	6,187.21%	10.87%	621.54%	-264.25%	-98.30%	-208.00%
Invested Capital Growth	5.82%	5.30%	4.41%	3.50%	2.81%	3.24%	2.02%	10.89%	7.50%	7.82%
Revenue Q/Q Growth	1.25%	-6.31%	1.87%	4.90%	6.73%	-10.08%	4.48%	11.89%	5.89%	-4.89%
EBITDA Q/Q Growth	2.41%	24.87%	-15.12%	25.59%	12.39%	-37.94%	5.09%	9.32%	19.69%	-10.90%
EBIT Q/Q Growth	2.42%	33.94%	-19.57%	31.56%	14.91%	-47.02%	5.46%	10.60%	24.51%	-14.44%
NOPAT Q/Q Growth	6.10%	16.02%	-24.10%	25.99%	13.52%	-31.22%	25.80%	11.77%	14.72%	-18.71%
Net Income Q/Q Growth	10.15%	-15.13%	-3.07%	27.27%	15.45%	-32.66%	27.99%	10.02%	16.69%	-19.12%
EPS Q/Q Growth	12.61%	-14.40%	-2.80%	28.85%	16.42%	-32.69%	29.52%	10.29%	16.67%	-19.43%
Operating Cash Flow Q/Q Growth	20.91%	12.66%	-58.54%	158.40%	21.86%	-30.79%	-53.77%	117.05%	68.41%	-10.26%
Free Cash Flow Firm Q/Q Growth	-92.32%	2,054.82%	-61.57%	387.22%	55.85%	-62.00%	150.07%	-210.91%	101.61%	-2,515.70%
Invested Capital Q/Q Growth	0.52%	-0.32%	3.24%	0.06%	-0.15%	0.09%	2.02%	8.76%	-3.20%	0.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.15%	36.62%	36.14%	38.11%	40.71%	38.26%	38.09%	40.89%	42.45%	39.14%
EBITDA Margin	28.71%	38.26%	28.59%	34.23%	36.05%	24.88%	32.88%	32.13%	36.32%	34.02%
Operating Margin	22.55%	29.16%	22.63%	26.74%	28.85%	21.23%	26.39%	26.02%	28.79%	22.27%
EBIT Margin	22.12%	31.63%	21.86%	27.41%	29.51%	17.39%	25.44%	25.14%	29.57%	26.60%
Profit (Net Income) Margin	17.69%	16.03%	15.25%	18.50%	20.01%	14.99%	18.36%	18.05%	19.89%	16.92%
Tax Burden Percent	84.93%	77.09%	74.02%	75.25%	74.17%	77.10%	74.69%	75.66%	74.08%	81.84%
Interest Burden Percent	94.16%	65.73%	94.25%	89.69%	91.41%	111.79%	96.63%	94.88%	90.81%	77.71%
Effective Tax Rate	19.50%	22.91%	25.98%	24.75%	25.83%	22.90%	25.31%	24.34%	25.92%	18.16%
Return on Invested Capital (ROIC)	21.34%	26.93%	19.79%	23.73%	25.64%	19.75%	23.46%	23.12%	26.24%	23.26%
ROIC Less NNEP Spread (ROIC-NNEP)	21.04%	23.01%	18.90%	22.73%	24.71%	18.91%	22.61%	22.00%	25.08%	22.21%
Return on Net Nonoperating Assets (RNNOA)	20.52%	21.92%	18.37%	21.82%	23.28%	17.11%	19.90%	18.96%	18.44%	15.10%
Return on Equity (ROE)	41.86%	48.84%	38.16%	45.55%	48.92%	36.86%	43.36%	42.08%	44.68%	38.36%
Cash Return on Invested Capital (CROIC)	13.06%	15.84%	17.71%	19.39%	21.40%	19.44%	21.17%	12.41%	16.64%	17.68%
Operating Return on Assets (OROA)	15.56%	22.96%	16.23%	20.13%	22.01%	13.41%	19.74%	19.23%	23.37%	21.88%
Return on Assets (ROA)	12.44%	11.63%	11.32%	13.58%	14.92%	11.55%	14.25%	13.81%	15.72%	13.91%
Return on Common Equity (ROCE)	41.86%	48.84%	38.16%	45.55%	48.92%	36.86%	43.36%	42.08%	44.68%	38.36%
Return on Equity Simple (ROE_SIMPLE)	37.61%	0.00%	37.78%	37.73%	38.57%	0.00%	37.72%	36.19%	34.80%	0.00%
Net Operating Profit after Tax (NOPAT)	59	68	52	65	74	51	64	72	82	67
NOPAT Margin	18.16%	22.48%	16.75%	20.12%	21.40%	16.37%	19.71%	19.69%	21.33%	18.23%
Net Nonoperating Expense Percent (NNEP)	0.30%	3.91%	0.89%	1.00%	0.93%	0.85%	0.85%	1.12%	1.16%	1.05%
Return On Investment Capital (ROIC_SIMPLE)	-	5.77%	-	-	-	4.34%	-	-	-	5.23%
Cost of Revenue to Revenue	63.85%	63.38%	63.86%	61.89%	59.29%	61.74%	61.91%	59.11%	57.55%	60.86%
SG&A Expenses to Revenue	18.25%	19.41%	20.21%	19.02%	18.60%	23.47%	20.13%	21.88%	20.07%	23.20%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.60%	7.45%	13.51%	11.37%	11.86%	17.03%	11.71%	14.87%	13.55%	16.97%
Earnings before Interest and Taxes (EBIT)	72	96	68	89	103	54	83	92	114	98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	93	117	89	111	125	78	107	117	140	125
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.88	5.72	5.84	5.77	5.44	7.27	8.71	7.39	8.01	8.14
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	1,103.75	127.32	155.46	68.87	62.29
Price to Revenue (P/Rev)	2.96	2.48	2.52	2.58	2.47	3.32	4.17	3.66	4.13	4.26
Price to Earnings (P/E)	18.30	15.08	15.45	15.29	14.11	19.23	23.10	20.42	23.02	23.26
Dividend Yield	1.20%	1.41%	1.39%	1.37%	1.43%	1.07%	0.86%	0.97%	0.85%	0.81%
Earnings Yield	5.46%	6.63%	6.47%	6.54%	7.09%	5.20%	4.33%	4.90%	4.34%	4.30%
Enterprise Value to Invested Capital (EV/IC)	3.89	3.39	3.42	3.48	3.39	4.41	5.35	4.53	5.29	5.60
Enterprise Value to Revenue (EV/Rev)	3.41	2.90	2.96	3.00	2.87	3.71	4.54	4.06	4.46	4.55
Enterprise Value to EBITDA (EV/EBITDA)	12.90	9.72	9.87	9.53	8.58	11.92	13.47	12.26	13.40	13.42
Enterprise Value to EBIT (EV/EBIT)	17.63	12.58	12.66	12.11	10.73	15.31	17.05	15.61	17.06	17.00
Enterprise Value to NOPAT (EV/NOPAT)	21.39	16.56	15.84	15.49	14.20	19.78	23.31	20.97	22.98	23.03
Enterprise Value to Operating Cash Flow (EV/OCF)	24.48	19.64	19.41	17.79	15.40	20.57	25.45	24.56	26.12	24.66
Enterprise Value to Free Cash Flow (EV/FCFF)	30.66	21.96	19.71	18.24	16.04	23.02	25.51	38.41	32.96	32.84
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.31	1.22	1.22	1.15	1.06	0.99	0.93	0.96	0.77	0.69
Long-Term Debt to Equity	1.26	1.22	1.21	1.13	1.03	0.95	0.89	0.93	0.74	0.66
Financial Leverage	0.98	0.95	0.97	0.96	0.94	0.91	0.88	0.86	0.74	0.68
Leverage Ratio	3.30	3.22	3.14	3.15	3.12	2.98	2.88	2.86	2.70	2.61
Compound Leverage Factor	3.11	2.12	2.96	2.82	2.85	3.33	2.79	2.71	2.45	2.03
Debt to Total Capital	56.73%	54.89%	55.01%	53.48%	51.50%	49.79%	48.12%	49.05%	43.66%	40.95%
Short-Term Debt to Total Capital	2.08%	0.00%	0.46%	0.93%	1.40%	1.91%	1.86%	1.71%	1.77%	1.75%
Long-Term Debt to Total Capital	54.65%	54.89%	54.55%	52.55%	50.10%	47.88%	46.26%	47.33%	41.89%	39.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	43.27%	45.11%	44.99%	46.52%	48.50%	50.21%	51.88%	50.95%	56.34%	59.05%
Debt to EBITDA	2.14	1.77	1.76	1.64	1.45	1.46	1.32	1.44	1.20	1.07
Net Debt to EBITDA	1.68	1.41	1.44	1.32	1.17	1.24	1.10	1.21	0.98	0.85
Long-Term Debt to EBITDA	2.06	1.77	1.75	1.61	1.41	1.40	1.27	1.39	1.15	1.03
Debt to NOPAT	3.54	3.01	2.83	2.66	2.39	2.42	2.28	2.46	2.06	1.84
Net Debt to NOPAT	2.79	2.41	2.32	2.14	1.94	2.05	1.90	2.07	1.68	1.47
Long-Term Debt to NOPAT	3.41	3.01	2.81	2.61	2.33	2.32	2.19	2.38	1.98	1.76
Altman Z-Score	3.61	3.61	3.69	3.78	3.83	4.48	5.27	4.70	5.42	5.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.66	1.95	2.18	2.05	1.88	1.61	1.79	1.76	1.64	1.40
Quick Ratio	0.97	1.20	1.31	1.24	1.15	0.93	1.06	1.05	0.94	0.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.71	15	5.86	29	45	17	42	-47	0.76	-18
Operating Cash Flow to CapEx	301.61%	223.32%	117.49%	352.60%	443.55%	240.93%	179.59%	287.94%	965.00%	541.25%
Free Cash Flow to Firm to Interest Expense	0.10	1.66	0.67	3.11	5.06	1.97	4.70	-4.23	0.07	-1.99
Operating Cash Flow to Interest Expense	8.01	6.87	3.01	7.36	9.38	6.64	2.93	5.16	9.19	9.41
Operating Cash Flow Less CapEx to Interest Expense	5.36	3.79	0.45	5.27	7.26	3.88	1.30	3.37	8.24	7.67
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.70	0.73	0.74	0.73	0.75	0.77	0.78	0.76	0.79	0.82
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	7.53	7.83	7.38	7.34	7.18	7.46	7.30	7.33	7.47	8.08
Fixed Asset Turnover	2.27	2.25	2.29	2.30	2.34	2.31	2.34	2.33	2.45	2.48
Accounts Payable Turnover	4.60	4.51	5.67	4.99	4.85	4.80	5.98	5.25	5.05	4.61
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	48.45	46.60	49.47	49.71	50.81	48.93	50.01	49.82	48.89	45.16
Days Payable Outstanding (DPO)	79.41	80.87	64.35	73.21	75.20	76.00	61.07	69.56	72.31	79.24
Cash Conversion Cycle (CCC)	-30.96	-34.27	-14.89	-23.50	-24.39	-27.07	-11.06	-19.74	-23.42	-34.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,060	1,056	1,090	1,091	1,089	1,090	1,112	1,210	1,171	1,176
Invested Capital Turnover	1.18	1.20	1.18	1.18	1.20	1.21	1.19	1.17	1.23	1.28
Increase / (Decrease) in Invested Capital	58	53	46	37	30	34	22	119	82	85
Enterprise Value (EV)	4,125	3,582	3,725	3,793	3,689	4,803	5,948	5,484	6,198	6,579
Market Capitalization	3,587	3,061	3,180	3,268	3,185	4,305	5,462	4,943	5,743	6,160
Book Value per Share	$11.24	$11.72	$11.99	$12.56	$13.09	$13.40	$14.31	$15.29	$16.41	$17.37
Tangible Book Value per Share	($1.17)	($0.88)	($0.60)	($0.29)	($0.07)	$0.09	$0.98	$0.73	$1.91	$2.27
Total Capital	1,205	1,186	1,211	1,218	1,207	1,179	1,208	1,313	1,273	1,282
Total Debt	683	651	666	652	622	587	581	644	556	525
Total Long-Term Debt	658	651	661	640	605	564	559	622	533	503
Net Debt	538	521	546	524	504	499	486	541	454	419
Capital Expenditures (CapEx)	19	28	22	19	19	24	15	20	10	16
Debt-free, Cash-free Net Working Capital (DFCFNWC)	78	68	105	95	85	70	99	100	88	42
Debt-free Net Working Capital (DFNWC)	164	174	201	197	181	141	169	174	162	122
Net Working Capital (NWC)	139	174	196	185	164	119	146	151	139	99
Net Nonoperating Expense (NNE)	1.51	20	4.66	5.27	4.82	4.32	4.41	5.98	5.56	4.83
Net Nonoperating Obligations (NNO)	538	521	546	524	504	499	486	541	454	419
Total Depreciation and Amortization (D&A)	21	20	21	22	23	23	24	26	26	27
Debt-free, Cash-free Net Working Capital to Revenue	6.41%	5.50%	8.35%	7.50%	6.57%	5.42%	7.57%	7.41%	6.34%	2.93%
Debt-free Net Working Capital to Revenue	13.57%	14.09%	15.97%	15.53%	14.07%	10.89%	12.87%	12.86%	11.64%	8.42%
Net Working Capital to Revenue	11.51%	14.09%	15.52%	14.64%	12.76%	9.15%	11.16%	11.19%	10.02%	6.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.25	$1.07	$1.04	$1.34	$1.56	$1.06	$1.37	$1.50	$1.76	$1.43
Adjusted Weighted Average Basic Shares Outstanding	46.10M	46.30M	45.40M	44.90M	44.50M	44.70M	43.80M	43.80M	43.70M	43.70M
Adjusted Diluted Earnings per Share	$1.25	$1.07	$1.04	$1.34	$1.56	$1.05	$1.36	$1.50	$1.75	$1.41
Adjusted Weighted Average Diluted Shares Outstanding	46.10M	46.40M	45.50M	45M	44.60M	44.80M	44.10M	44M	43.90M	44M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	45.66M	45.44M	45.12M	44.72M	44.18M	43.81M	43.76M	43.70M	43.59M	43.46M
Normalized Net Operating Profit after Tax (NOPAT)	65	67	52	65	74	51	64	72	82	68
Normalized NOPAT Margin	19.92%	21.90%	16.75%	20.12%	21.40%	16.39%	19.64%	19.83%	21.33%	18.59%
Pre Tax Income Margin	20.83%	20.79%	20.60%	24.59%	26.98%	19.44%	24.58%	23.86%	26.85%	20.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.27	10.47	7.79	9.70	11.65	6.31	9.22	8.27	10.89	10.63
NOPAT to Interest Expense	8.43	7.44	5.97	7.12	8.45	5.94	7.15	6.48	7.85	7.29
EBIT Less CapEx to Interest Expense	7.61	7.39	5.23	7.61	9.53	3.56	7.59	6.48	9.93	8.89
NOPAT Less CapEx to Interest Expense	5.77	4.37	3.41	5.03	6.33	3.19	5.51	4.68	6.90	5.55
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	22.24%	21.78%	21.82%	21.19%	20.37%	20.96%	20.14%	20.12%	19.88%	19.10%
Augmented Payout Ratio	111.53%	103.11%	100.53%	85.27%	72.19%	79.94%	70.90%	61.42%	49.94%	39.86%

Frequently Asked Questions About Armstrong World Industries' Financials

When does Armstrong World Industries's financial year end?

According to the most recent income statement we have on file, Armstrong World Industries' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Armstrong World Industries' net income changed over the last 9 years?

Armstrong World Industries' net income appears to be on an upward trend, with a most recent value of $264.90 million in 2024, rising from $94.20 million in 2015. The previous period was $223.80 million in 2023.

What is Armstrong World Industries's operating income?

Armstrong World Industries's total operating income in 2024 was $374.30 million, based on the following breakdown:

Total Gross Profit: $581.60 million
Total Operating Expenses: $207.30 million

How has Armstrong World Industries revenue changed over the last 9 years?

Over the last 9 years, Armstrong World Industries' total revenue changed from $805.10 million in 2015 to $1.45 billion in 2024, a change of 79.6%.

How much debt does Armstrong World Industries have?

Armstrong World Industries' total liabilities were at $1.09 billion at the end of 2024, a 0.5% increase from 2023, and a 43.4% decrease since 2015.

How much cash does Armstrong World Industries have?

In the past 9 years, Armstrong World Industries' cash and equivalents has ranged from $45.30 million in 2019 to $325.70 million in 2018, and is currently $79.30 million as of their latest financial filing in 2024.

How has Armstrong World Industries' book value per share changed over the last 9 years?

Over the last 9 years, Armstrong World Industries' book value per share changed from 13.89 in 2015 to 17.37 in 2024, a change of 25.1%.

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This page (NYSE:AWI) was last updated on 4/15/2025 by MarketBeat.com Staff

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Armstrong World Industries (AWI) Financials

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Armstrong World Industries (AWI) Financials

Annual Income Statements for Armstrong World Industries

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