ARMSTRONG WORLD INDUSTRIES INC
AWI · Plastics Products, NEC · 42.7M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $113M (gross $132M, SBC $19M)
Reference price $173.91 · est. market cap ~$7.4B — last insider purchase, 2026-02-27 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A86Dominant Americas ceilings franchise with pricing power, a valuable WAVE JV, and top-decile returns and margins.
Strengths
- Top-decile across the board — ROE 34.3%, ROA 16.0%, operating margin 26.6%, all 100th pct, net margin 19.0%
- Wide-moat Mineral Fiber core plus fast-growing Architectural Specialties; interest coverage 13x
Risks
- Quick ratio 1.00 (33rd) and modest cash; acquisitive Architectural Specialties strategy carries integration risk
- Demand tied to commercial construction cycle and key home-center/distributor customers
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $113M cash & investments
- Buying back stockNet buyback — share count -2%/yr over 4y
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
40.6%
Operating margin
26.6%
Net margin
19.0%
Return on equity
34.3%
Return on assets
16.0%
ROIC
26.2%
Revenue growth (QoQ)
5.6%
Net-income growth
16.5%
Debt / equity
0.4×
Net debt / EBITDA
0.5×
Interest coverage
13.1×
Current ratio
1.5×
EBITDA
$551M
Tangible book value
$258M
Cash & investments
$113M
Stock comp / revenue
1.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | TEMPLIN ROY W | Grant | 1.3K | — |
| 2026-06-12 | Shurts Wayne | Grant | 876 | — |
| 2026-06-12 | Pitre Kathleen | Grant | 876 | — |
| 2026-06-12 | Osborne William H | Grant | 876 | — |
| 2026-06-12 | Loughran Barbara | Grant | 876 | — |
| 2026-06-12 | HOLLERAN KEVIN | Grant | 876 | — |
| 2026-06-12 | Holder Richard D | Grant | 876 | — |
| 2026-04-28 | Grizzle Victor | Option exercise | 73K | $169.84 |
| 2026-04-28 | Grizzle Victor | Tax withheld | 32K | $169.84 |
| 2026-04-08 | Winters Michael Carl | Option exercise | 3.7K | — |
| 2026-04-08 | Winters Michael Carl | Tax withheld | 1.6K | $172.77 |
| 2026-04-08 | Hershey Mark A | Option exercise | 13K | — |
| 2026-04-08 | Hershey Mark A | Tax withheld | 5.8K | $172.77 |
| 2026-04-08 | Grizzle Victor | Option exercise | 98K | — |
| 2026-04-08 | Grizzle Victor | Tax withheld | 43K | $172.77 |
| 2026-04-08 | Crager Jill A. | Option exercise | 4.1K | — |
| 2026-04-08 | Crager Jill A. | Tax withheld | 1.8K | $172.77 |
| 2026-04-08 | Calzaretta Christopher P. | Option exercise | 9.1K | — |
| 2026-04-08 | Calzaretta Christopher P. | Tax withheld | 4.0K | $172.77 |
| 2026-04-08 | Burge James T. | Option exercise | 2.0K | — |
| 2026-04-08 | Burge James T. | Tax withheld | 877 | $172.77 |
| 2026-02-27 | Grizzle Victor | Option exercise | 26K | $173.50 |
| 2026-02-27 | Grizzle Victor | Tax withheld | 10K | $173.50 |
| 2026-02-27 | Hershey Mark A | Option exercise | 3.5K | $173.50 |
| 2026-02-27 | Hershey Mark A | Tax withheld | 1.3K | $173.50 |
| 2026-02-27 | Calzaretta Christopher P. | Option exercise | 2.4K | $173.50 |
| 2026-02-27 | Calzaretta Christopher P. | Tax withheld | 1.1K | $173.50 |
| 2026-02-27 | Crager Jill A. | Option exercise | 1.1K | $173.50 |
| 2026-02-27 | Crager Jill A. | Tax withheld | 505 | $173.50 |
| 2026-02-27 | So Austin | Option exercise | 2.6K | $173.50 |
| 2026-02-27 | So Austin | Tax withheld | 1.2K | $173.50 |
| 2026-02-27 | Burge James T. | Option exercise | 639 | $173.50 |
| 2026-02-27 | Burge James T. | Tax withheld | 216 | $173.50 |
| 2026-02-27 | TEMPLIN ROY W | Buy | 575 | $173.91 |
| 2025-11-21 | Osborne William H | Gift | 300 | — |
| 2025-10-29 | HOLLERAN KEVIN | Grant | 435 | — |
| 2025-08-08 | Osborne William H | Sell | 100 | $188.78 |
| 2025-06-13 | TEMPLIN ROY W | Grant | 1.1K | — |
| 2025-06-13 | Shurts Wayne | Grant | 827 | — |
| 2025-06-13 | Pitre Kathleen | Grant | 827 | — |
| 2025-06-13 | Osborne William H | Grant | 827 | — |
| 2025-06-13 | Loughran Barbara | Grant | 827 | — |
| 2025-06-13 | Holder Richard D | Grant | 827 | — |
| 2025-04-08 | Burge James T. | Option exercise | 990 | — |
| 2025-04-08 | Burge James T. | Tax withheld | 283 | $126.10 |
| 2025-04-08 | So Austin | Option exercise | 8.0K | — |
| 2025-04-08 | So Austin | Tax withheld | 3.0K | $126.10 |
| 2025-04-08 | Crager Jill A. | Option exercise | 3.4K | — |
| 2025-04-08 | Crager Jill A. | Tax withheld | 1.5K | $126.10 |
| 2025-04-08 | Hershey Mark A | Option exercise | 17K | — |
| 2025-04-08 | Hershey Mark A | Tax withheld | 6.8K | $126.10 |
| 2025-04-08 | Calzaretta Christopher P. | Option exercise | 1.7K | — |
| 2025-04-08 | Calzaretta Christopher P. | Option exercise | 3.2K | — |
| 2025-04-08 | Calzaretta Christopher P. | Tax withheld | 2.1K | $126.10 |
| 2025-04-08 | Grizzle Victor | Option exercise | 64K | — |
| 2025-04-08 | Grizzle Victor | Tax withheld | 27K | $126.10 |
| 2025-01-31 | So Austin | Option exercise | 1.3K | — |
| 2025-01-31 | So Austin | Tax withheld | 410 | $151.01 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
- Worthington Armstrong Venture (WAVE)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-11 | 0001193125-26-273166 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001193125-26-217179 ↗ |
| 10-Q | 2026-04-28 | 2026-03-31 | 0001193125-26-183484 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0001193125-26-183353 ↗ |
| 8-K | 2026-04-24 | 2026-04-24 | 0001193125-26-177444 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001193125-26-085819 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001193125-26-065183 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001193125-26-064950 ↗ |
| 8-K | 2026-02-20 | 2026-02-20 | 0001193125-26-060369 ↗ |
| 8-K | 2026-02-19 | 2026-02-18 | 0001193125-26-058141 ↗ |
| 8-K | 2026-02-18 | 2026-02-18 | 0001193125-26-057076 ↗ |
| 8-K | 2026-02-02 | 2026-01-27 | 0001193125-26-033816 ↗ |