Armstrong World Industries, Inc. (AWI) Stock

Armstrong World Industries, Inc. (AWI) is a Materials stock trading at $178.55 (as of 2026-08-21), with a market capitalization of $7.55B and a trailing P/E of 23.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Armstrong World Industries, Inc., together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments. The company produces suspended mineral fiber, soft fiber, fiberglass wool, and metal ceiling systems, as well as wood, wood fiber, glass-reinforced-gypsum, and felt ceiling and wall systems; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings and walls for use in commercial settings; and acoustical controls, facades, and partitions. It sells its commercial ceiling and architectural specialties products to resale distributors and ceiling system contractors; and residential ceiling products to wholesalers and retailers, such as large home centers. The company was incorporated in 1891 and is headquartered in Lancaster, Pennsylvania.

Understand Armstrong World Industries, Inc.: how it makes money

Armstrong World Industries makes and sells ceiling systems and related ceiling components for residential and commercial construction and renovation, and it generates revenue by selling these products through its Mineral Fiber and Architectural Specialties segments.

Armstrong's profit model is the combined performance of its two segment businesses, Mineral Fiber and Architectural Specialties, with segment net sales flowing into the company’s reported operating margin (23.0%).

Revenue by segment (latest quarter)
Mineral Fiber$0.3B
Architectural Specialties$0.1B

Business quality (Solid): Segment structure is clear (Mineral Fiber and Architectural Specialties), and quarter-level margins are provided, but the supplied operating KPI values are 0.0, which limits what can be inferred about operational momentum from those specific figures.

Valuation: At 22× earnings, AWI trades in line with the Rubber & Plastic Products average (24×). Note: one-time items can distort reported P/E.

Bull case

  • Two reportable segments provide different product exposure: The company operates through Mineral Fiber and Architectural Specialties, so results come from a diversified ceiling product set (suspended mineral fiber, fiberglass wool, metal ceiling systems, and related ceiling component products).
  • Solid profitability in the latest reported quarter: For the quarter ended 2026-03-31, the company reported gross margin of 37.9% and operating margin of 23.0%.

Bear case

  • Demand can be tied to construction and renovation activity: Armstrong’s ceiling systems are primarily used in construction and renovation in the United States, Canada, and Latin America, which can make sales sensitive to building activity levels in those markets.
  • Segment performance can move overall results: Because the company reports results through Mineral Fiber and Architectural Specialties, weakness in either segment’s net sales can pressure the company’s overall operating performance.
Valuation — source: SEC EDGAR (first-party)
Price$178.55
Market Cap$7.55B
P/E Ratio23.9
EV / EBITDA14.3
Price / Book8.53
Price / Sales4.45
FCF Yield3.3%
DCF Value (model)$116.72
DCF Upside vs Price-34.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.62B
Net Margin19.0%
Revenue Growth (YoY)11.2%
EPS Growth (YoY)12.9%
FCF Growth (YoY)13.1%
Financial Health — source: SEC EDGAR
Altman Z-Score7.46 (safe)
Piotroski F-Score9/9 (strong)
Valuation vs Sector & Industry
Stock P/E23.9
Sector P/E (Materials)25.9
Industry P/E (Rubber & Plastic Products)24.5
vs Sector-7.6%
vs Industry-2.2%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($857.99M)
Institutional Holders Tracked10
Congressional Trades (recent)2
Company
SectorMaterials
IndustryRubber & Plastic Products
CEOVictor D. Grizzle
Employees3,600
CountryUS
IPO Date2006-10-18

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AWI earnings history · AWI institutional & insider holders · AWI KPIs & operating metrics · AWI financials · AWI investor presentations & press releases · AWI SEC filings · AWI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.