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What this page is: Delvantic's full research page for Armstrong World Industries, Inc. (AWI) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
Page map (sections in order; each card carries a stable
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profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
price-history,income-trend,key-metrics,financials(statement tables),insider-trading. The analysis above is public; the raw data tables require a free account.
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any ticker resolves at delvantic.com/stock/TICKER ·
raw inputs are public-company filings and market data (via licensed data feeds);
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Armstrong World Industries, Inc.
AWI NYSE
Industrials · Building Products & Equipment
Lancaster, PA 17603, United States
armstrongceilings.com
Price
$182.30
Market Cap
$7.8B
Employees
3,600
Beta
1.17
Avg Volume
546,765
Last Dividend
$1.36
CEO
Mr. Victor D. Grizzle
Armstrong World Industries, Inc. is an established leader in the production and design of commercial and residential ceiling, wall, and suspension systems. Its core function is to provide innovative interior solutions that enhance spaces with improved acoustical performance and aesthetic appeal. The company's products serve key sectors, including healthcare, education, commercial, and residential construction, reflecting the broad impact it has across industries that require efficient and effective building materials. By offering sustainable, durable, and designer-friendly options, Armstrong World Industries integrates both functionality and style into its offerings. Headquartered in Lancaster, Pennsylvania, the company remains significant in the market due to its continuous commitment to advancing architectural environments through superior ceiling and wall solutions. Armstrong World Industries also drives industry standards by focusing on sustainability and design flexibility, supporting architects and builders in creating more comfortable and acoustically sound environments.
Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 13 No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Jul 28, 2026.
EPS surprise history — vs analyst consensus · 5 prints of vendor history
-4.2%
Feb '26
+0.0%
Apr '26
-6.6%
Apr '26
+0.0%
May '26
+4.9%
Jul '26
| Print date | EPS est. | EPS actual | Revenue est. | Revenue actual |
|---|---|---|---|---|
| Jul 28, 2026 | $2.25 | $2.36 +4.9% | — | — |
| May 14, 2026 | $-0.11 | $-0.11 +0.0% | — | — |
| Apr 28, 2026 | $1.81 | $1.69 -6.6% | — | — |
| Apr 13, 2026 | $0.30 | $0.30 +0.0% | — | — |
| Feb 24, 2026 | $1.68 | $1.61 -4.2% | — | — |
Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.
Recent SEC Filings
| Filed | Form | Document |
|---|---|---|
| Jul 30, 2026 | 8-K | View |
| Jul 28, 2026 | 10-Q | View |
| Jul 28, 2026 | 8-K | View |
| Jul 21, 2026 | 8-K | View |
| Jun 17, 2026 | 8-K | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.
Price Overview
Last updated: Aug 13, 2026 3:00pm (just now)
Current data · timestamped when a report runs
$182.30
Change · Aug 13
-1.16 (-0.63%)
Day Range
$182.26 – $184.56
52-Week Range
$150.28 – $206.08
50-Day MA
$162.97
200-Day MA
$175.50
Volume
8,891.00
Share Structure
Outstanding
42,327,893.00
Float
40,081,219.00
Free Float
94.7%
High free float
— 94.7% of shares trade freely, ~5.3% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEXStock Price / EPS (Diluted)
25.75
Stock Price: $182.30
EPS (Diluted): 7.08
EPS (Diluted): 7.08
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
8.82
Stock Price: $182.30
Total Equity: $900.70M
Shares: 43,600,000
Total Equity: $900.70M
Shares: 43,600,000
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
14.59
Market Cap: $7.75B
Total Debt: $406.70M
Cash: $112.70M
EBITDA: $551.30M
Total Debt: $406.70M
Cash: $112.70M
EBITDA: $551.30M
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$8.0B
Market Cap: $7.75B
Total Debt: $406.70M
Cash: $112.70M
Total Debt: $406.70M
Cash: $112.70M
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
40.6%
Gross Profit: $658.70M
Revenue: $1.62B
Revenue: $1.62B
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
26.6%
Operating Income: $430.90M
Revenue: $1.62B
Revenue: $1.62B
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
19.0%
Net Income: $308.70M
Revenue: $1.62B
Revenue: $1.62B
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
34.3%
Net Income: $308.70M
Total Equity: $900.70M
Total Equity: $900.70M
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
27.8%
Operating Income: $430.90M
Tax Rate: 22.9%
Equity: $900.70M
Total Debt: $406.70M
Cash: $112.70M
Tax Rate: 22.9%
Equity: $900.70M
Total Debt: $406.70M
Cash: $112.70M
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
1.46
Current Assets: $391.50M
Current Liabilities: $267.40M
Current Liabilities: $267.40M
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
0.45
Short-Term Debt: $10.30M
Long-Term Debt: $396.40M
Total Debt: $406.70M
Total Equity: $900.70M
Long-Term Debt: $396.40M
Total Debt: $406.70M
Total Equity: $900.70M
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
$37.17
Revenue: $1.62B
Shares: 43,600,000
Shares: 43,600,000
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
$20.66
Total Equity: $900.70M
Shares: 43,600,000
Shares: 43,600,000
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$5.64
Operating CF: $355.50M
CapEx: -$109.40M
Shares: 43,600,000
CapEx: -$109.40M
Shares: 43,600,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
0.7%
Last Dividend: $1.36
Stock Price: $182.30
Stock Price: $182.30
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
17.9%
Dividends Paid: -$55.20M
Net Income: $308.70M
Net Income: $308.70M
Income Statement (Annual)
Last updated: Aug 12, 2026 6:50am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.1B | $1.2B | $1.3B | $1.4B | $1.6B |
| Cost of Revenue | $701.0M | $784.0M | $798.2M | $864.1M | $962.1M |
| Gross Profit | $405.6M | $449.1M | $497.0M | $581.6M | $658.7M |
| Operating Expenses | $145.6M | $170.4M | $173.3M | $207.3M | $227.8M |
| Operating Income | $260.0M | $278.7M | $323.7M | $374.3M | $430.9M |
| Net Income | $183.2M | $202.9M | $223.8M | $264.9M | $308.7M |
| EBITDA | $356.5M | $362.4M | $412.9M | $477.5M | $551.3M |
| EPS | $3.84 | $4.38 | $5.00 | $6.06 | $7.13 |
| EPS (Diluted) | $3.82 | $4.37 | $4.99 | $6.02 | $7.08 |
Balance Sheet (Annual)
Last updated: Aug 12, 2026 6:50am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $98.1M | $106.0M | $70.8M | $79.3M | $112.7M |
| Total Current Assets | $321.9M | $356.5M | $313.0M | $348.9M | $391.5M |
| Total Assets | $1.7B | $1.7B | $1.7B | $1.8B | $1.9B |
| Current Liabilities | $209.6M | $182.7M | $194.5M | $249.7M | $267.4M |
| Long-Term Debt | $606.4M | $651.1M | $564.3M | $502.6M | $396.4M |
| Total Liabilities | $1.2B | $1.2B | $1.1B | $1.1B | $1.0B |
| Total Equity | $519.7M | $535.0M | $591.8M | $757.1M | $900.7M |
| Retained Earnings | $1.0B | $1.2B | $1.3B | $1.6B | $1.8B |
Cash Flow (Annual)
Last updated: Aug 12, 2026 6:50am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $187.2M | $182.4M | $233.5M | $266.8M | $355.5M |
| Capital Expenditure | -$79.8M | -$74.8M | -$83.8M | -$82.8M | -$109.4M |
| Free Cash Flow | $107.4M | $107.6M | $149.7M | $184.0M | $246.1M |
| Acquisitions (net) | $-700,000 | -$2.8M | -$26.5M | -$123.5M | -$13.9M |
| Net Debt Issued / (Repaid) | -$25.0M | -$18.7M | $0 | -$22.5M | -$16.9M |
| Dividends Paid | -$41.4M | -$44.2M | -$46.9M | -$50.6M | -$55.2M |
| Stock Buybacks | -$80.0M | -$165.0M | -$132.0M | -$55.0M | -$128.9M |
| Net Change in Cash | -$38.8M | $7.9M | -$35.2M | $8.5M | $33.4M |
Growth Trends (YoY %)
Last updated: Aug 12, 2026 6:50am (1d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +11.4% | +5.0% | +11.6% | +12.1% |
| Gross Profit Growth | +10.7% | +10.7% | +17.0% | +13.3% |
| Operating Income Growth | +7.2% | +16.1% | +15.6% | +15.1% |
| Net Income Growth | +10.8% | +10.3% | +18.4% | +16.5% |
| EBITDA Growth | +1.7% | +13.9% | +15.6% | +15.5% |
Dividend History (Last 20)
Last updated: Aug 12, 2026 6:50am (1d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-08-05 | $0.34 | — | — | — |
| 2026-05-11 | $0.34 | — | — | — |
| 2026-03-05 | $0.34 | — | — | — |
| 2025-11-06 | $0.34 | — | — | — |
| 2025-08-07 | $0.31 | — | — | — |
| 2025-05-08 | $0.31 | — | — | — |
| 2025-03-06 | $0.31 | — | — | — |
| 2024-11-07 | $0.31 | — | — | — |
| 2024-08-08 | $0.28 | — | — | — |
| 2024-05-08 | $0.28 | — | — | — |
| 2024-02-28 | $0.28 | — | — | — |
| 2023-11-01 | $0.28 | — | — | — |
| 2023-08-02 | $0.25 | — | — | — |
| 2023-05-03 | $0.25 | — | — | — |
| 2023-03-01 | $0.25 | — | — | — |
| 2022-11-02 | $0.25 | — | — | — |
| 2022-08-03 | $0.23 | — | — | — |
| 2022-05-04 | $0.23 | — | — | — |
| 2022-03-02 | $0.23 | — | — | — |
| 2021-11-03 | $0.23 | — | — | — |
Industry Benchmarks
Compares AWI against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for AWI — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for AWI — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
No GPT reading yet for AWI — it's generated by the
pipeline (
gpt-critique step) after the other Big-3 seats, when a
report is run on this ticker.
Grok Reading
No Grok reading yet for AWI — it's generated by the
pipeline (
grok-critique step) alongside the other Big-3 seats, when a
report is run on this ticker.
Advanced Analysis Forensic deep-dive · four lenses
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Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.530 · 761561a2 · 2026-08-12 19:06:35