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Armstrong World Industries (AWI)

Market Price (5/3/2026): $168.39 | Market Cap: $7.2 Bil
Sector: Industrials | Industry: Building Products

Armstrong World Industries (AWI)

Market Price (5/3/2026): $168.39
Market Cap: $7.2 Bil
Sector: Industrials
Industry: Building Products

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%

Low stock price volatility
Vol 12M is 25%

Megatrend and thematic drivers
Megatrends include Sustainable Resource Management, Sustainable & Green Buildings, and Advanced Materials. Themes include Green Building Materials, Show more.

Key risks
AWI key risks include [1] significant financial dependence on the performance of its Worthington Armstrong Venture (WAVE) joint venture and [2] geographic revenue concentration in the United States.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%
1 Low stock price volatility
Vol 12M is 25%
2 Megatrend and thematic drivers
Megatrends include Sustainable Resource Management, Sustainable & Green Buildings, and Advanced Materials. Themes include Green Building Materials, Show more.
3 Key risks
AWI key risks include [1] significant financial dependence on the performance of its Worthington Armstrong Venture (WAVE) joint venture and [2] geographic revenue concentration in the United States.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Armstrong World Industries (AWI) stock has lost about 10% since 1/31/2026 because of the following key factors:

1. Below-consensus Q4 2025 Earnings and Weakened 2026 Profit Outlook.

Armstrong World Industries reported its fourth-quarter 2025 earnings on February 24, 2026, with an adjusted EPS of $1.61, missing the Zacks Consensus Estimate of $1.67 per share. The company's revenue of $388.3 million also fell short of analyst estimates by over $16 million. Following this earnings miss, investor focus shifted to the company's 2026 profit forecast, which came in below expectations, leading to a 9.6% decline in AWI's stock price on February 24, 2026, closing at $174.30. This initial negative guidance set a challenging tone for the stock in the specified period.

2. Q1 2026 Adjusted EPS Miss and Operating Margin Compression.

The company announced its first-quarter 2026 results on April 28, 2026, reporting an adjusted EPS of $1.69, which missed the analyst consensus estimate of $1.81 to $1.82 by approximately 7%. Despite meeting or slightly exceeding some revenue estimates, the market reacted negatively to the weaker profitability. AWI's operating margin compressed to 23% from 25.7% in the prior-year quarter, primarily due to short-term headwinds in the Architectural Specialties segment, including a non-recurring tariff adjustment and ongoing growth investments. This disappointment resulted in the stock dropping 5.21% in pre-market trading and 6.4% during the afternoon session on April 28, 2026.

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Stock Movement Drivers

Fundamental Drivers

The -8.1% change in AWI stock from 1/31/2026 to 5/2/2026 was primarily driven by a -9.3% change in the company's P/E Multiple.
(LTM values as of)13120265022026Change
Stock Price ($)183.37168.46-8.1%
Change Contribution By: 
Total Revenues ($ Mil)1,6001,6483.0%
Net Income Margin (%)19.1%18.6%-2.6%
P/E Multiple25.923.5-9.3%
Shares Outstanding (Mil)43430.9%
Cumulative Contribution-8.1%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/2/2026
ReturnCorrelation
AWI-8.1% 
Market (SPY)3.6%34.2%
Sector (XLI)4.8%46.5%

Fundamental Drivers

The -11.2% change in AWI stock from 10/31/2025 to 5/2/2026 was primarily driven by a -12.3% change in the company's P/E Multiple.
(LTM values as of)103120255022026Change
Stock Price ($)189.71168.46-11.2%
Change Contribution By: 
Total Revenues ($ Mil)1,6001,6483.0%
Net Income Margin (%)19.1%18.6%-2.6%
P/E Multiple26.823.5-12.3%
Shares Outstanding (Mil)43430.9%
Cumulative Contribution-11.2%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/2/2026
ReturnCorrelation
AWI-11.2% 
Market (SPY)5.5%40.9%
Sector (XLI)12.2%51.3%

Fundamental Drivers

The 17.0% change in AWI stock from 4/30/2025 to 5/2/2026 was primarily driven by a 9.7% change in the company's Total Revenues ($ Mil).
(LTM values as of)43020255022026Change
Stock Price ($)143.94168.4617.0%
Change Contribution By: 
Total Revenues ($ Mil)1,5021,6489.7%
Net Income Margin (%)18.2%18.6%1.9%
P/E Multiple22.823.53.0%
Shares Outstanding (Mil)44431.6%
Cumulative Contribution17.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/2/2026
ReturnCorrelation
AWI17.0% 
Market (SPY)30.4%41.4%
Sector (XLI)33.6%49.8%

Fundamental Drivers

The 152.6% change in AWI stock from 4/30/2023 to 5/2/2026 was primarily driven by a 60.0% change in the company's P/E Multiple.
(LTM values as of)43020235022026Change
Stock Price ($)66.68168.46152.6%
Change Contribution By: 
Total Revenues ($ Mil)1,2611,64830.7%
Net Income Margin (%)16.3%18.6%13.9%
P/E Multiple14.723.560.0%
Shares Outstanding (Mil)45436.1%
Cumulative Contribution152.6%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/2/2026
ReturnCorrelation
AWI152.6% 
Market (SPY)78.7%54.0%
Sector (XLI)80.9%62.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
AWI Return57%-40%45%45%36%-11%141%
Peers Return11%-31%14%-12%-48%2%-59%
S&P 500 Return27%-19%24%23%16%5%92%

Monthly Win Rates [3]
AWI Win Rate83%25%58%67%75%25% 
Peers Win Rate52%37%45%43%38%65% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
AWI Max Drawdown-4%-41%-9%-3%-11%-16% 
Peers Max Drawdown-10%-45%-17%-32%-53%-20% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: WDFC, COTY, NWL, ENR, HELE. See AWI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/1/2026 (YTD)

How Low Can It Go

EventAWIS&P 500
2025 US Tariff Shock
  % Loss-17.0%-18.8%
  % Gain to Breakeven20.5%23.1%
  Time to Breakeven31 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-11.2%-9.5%
  % Gain to Breakeven12.6%10.5%
  Time to Breakeven10 days24 days
2023 SVB Regional Banking Crisis
  % Loss-22.6%-6.7%
  % Gain to Breakeven29.2%7.1%
  Time to Breakeven155 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-35.9%-24.5%
  % Gain to Breakeven56.0%32.4%
  Time to Breakeven607 days427 days
2020 COVID-19 Crash
  % Loss-35.7%-33.7%
  % Gain to Breakeven55.5%50.9%
  Time to Breakeven401 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-20.9%-19.2%
  % Gain to Breakeven26.5%23.7%
  Time to Breakeven53 days105 days

Compare to WTS, UFPI, GFF, NWL, HELE

In The Past

Armstrong World Industries's stock fell -17.0% during the 2025 US Tariff Shock. Such a loss loss requires a 20.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventAWIS&P 500
2023 SVB Regional Banking Crisis
  % Loss-22.6%-6.7%
  % Gain to Breakeven29.2%7.1%
  Time to Breakeven155 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-35.9%-24.5%
  % Gain to Breakeven56.0%32.4%
  Time to Breakeven607 days427 days
2020 COVID-19 Crash
  % Loss-35.7%-33.7%
  % Gain to Breakeven55.5%50.9%
  Time to Breakeven401 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-20.9%-19.2%
  % Gain to Breakeven26.5%23.7%
  Time to Breakeven53 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-39.1%-12.2%
  % Gain to Breakeven64.1%13.9%
  Time to Breakeven594 days62 days
2014-2016 Oil Price Collapse
  % Loss-37.1%-6.8%
  % Gain to Breakeven58.9%7.3%
  Time to Breakeven575 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-22.5%-17.9%
  % Gain to Breakeven29.1%21.8%
  Time to Breakeven74 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-34.3%-15.4%
  % Gain to Breakeven52.2%18.2%
  Time to Breakeven118 days125 days
2008-2009 Global Financial Crisis
  % Loss-74.1%-53.4%
  % Gain to Breakeven286.5%114.4%
  Time to Breakeven218 days1085 days
Summer 2007 Credit Crunch
  % Loss-29.7%-8.6%
  % Gain to Breakeven42.3%9.5%
  Time to Breakeven819 days47 days

Compare to WTS, UFPI, GFF, NWL, HELE

In The Past

Armstrong World Industries's stock fell -17.0% during the 2025 US Tariff Shock. Such a loss loss requires a 20.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Armstrong World Industries (AWI)

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.

AI Analysis | Feedback

Here are 1-3 brief analogies for Armstrong World Industries (AWI):

  • The Sherwin-Williams of ceilings: Just as Sherwin-Williams specializes in paints and coatings for interior and exterior surfaces, Armstrong World Industries is a leading manufacturer focused on ceiling and wall systems.
  • The Kohler of ceilings and wall systems: Similar to how Kohler is a well-known manufacturer of specialized plumbing fixtures for homes and commercial buildings, Armstrong World Industries specializes in producing essential and decorative ceiling and wall systems.

AI Analysis | Feedback

  • Mineral Fiber Ceiling Systems: These systems include suspended mineral fiber and soft fiber, primarily for construction and renovation.
  • Fiberglass Wool Ceiling Systems: Ceilings made with fiberglass wool, known for their acoustical and thermal properties.
  • Metal Ceiling Systems: Durable ceiling solutions crafted from metal, often used for their aesthetic and performance characteristics.
  • Architectural Specialty Ceiling and Wall Systems: Diverse systems made from materials like wood, wood fiber, glass-reinforced-gypsum, and felt for specialized design and functional needs.
  • Ceiling Component Products: Essential components such as perimeters, trims, and grid systems that support various ceiling installations.
  • Acoustical Controls: Products specifically designed to manage sound and improve acoustics within interior spaces.

AI Analysis | Feedback

Armstrong World Industries (AWI) primarily sells its products to other companies (B2B) rather than directly to individuals. The provided background description does not list specific names of customer companies. However, it identifies the following categories of businesses as AWI's major customers:

  • Resale distributors: These entities purchase commercial ceiling and architectural specialties products from AWI for further sale.
  • Ceiling system contractors: These professionals acquire AWI's commercial ceiling and architectural specialties products for direct use in their construction and renovation projects.
  • Wholesalers: These businesses buy residential ceiling products from AWI for distribution to various retail outlets or other commercial clients.
  • Retailers, such as large home centers: These businesses sell AWI's residential ceiling products directly to end-consumers. While specific company names are not provided in the background, this category includes large chains.

AI Analysis | Feedback

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AI Analysis | Feedback

Victor D. Grizzle, President & Chief Executive Officer

Victor D. Grizzle has served as president and chief executive officer of Armstrong World Industries since March 2016. He joined the company in January 2011 as executive vice president. Prior to joining AWI, Mr. Grizzle served from 2005 to 2010 as president of Global Structures, Coatings and Tubing for Valmont Industries. He also previously served as president of the commercial power division of EaglePicher Corporation. Early in his career, he spent 16 years at General Electric in various operational roles across Asia, Europe, and North America. Mr. Grizzle is also a member of the board of directors of Franklin Electric.

Christopher J. Calzaretta, Senior Vice President & Chief Financial Officer

Christopher J. Calzaretta was appointed chief financial officer of Armstrong World Industries in 2022. He joined the company in 2018 as vice president of Finance, Americas. Mr. Calzaretta brings over 20 years of finance and public accounting experience to his role. Prior to AWI, he spent 10 years at E.I. DuPont de Nemours and Company in finance and accounting roles of increasing responsibility. He also held various accounting and financial reporting roles at FMC Corporation, American Meter Company, and Delta Airlines, and began his career in public accounting at Ernst and Young.

Mark A. Hershey, Senior Vice President & Chief Operating Officer

Mark A. Hershey has served as Senior Vice President & Chief Operating Officer since April 2025. He will succeed Vic Grizzle as President and Chief Executive Officer effective April 1, 2026. Mr. Hershey joined Armstrong in 2011 as general counsel and secretary, and has subsequently served as chief compliance officer and head of the company's sustainability efforts. He played a lead role in the separation of the company's flooring business in 2016 and the divestitures of AWI's European and Pacific Rim businesses in 2019. He has been instrumental in all 14 acquisitions that have transformed the company's Architectural Specialties segment since 2016.

Austin So, Senior Vice President, General Counsel, Head of Government Relations & Chief Sustainability Officer

Austin So joined Armstrong World Industries as senior vice president, general counsel and secretary in 2022. His position expanded in 2025 to include head of Government Relations, and he also directs the strategy and execution of AWI's sustainability and compliance programs. Mr. So brings over 20 years of broad legal experience from both corporate and private practice.

Jim Burge, Controller

Jim Burge is Controller and Vice President of Armstrong World Industries, having joined the company in 2015. Prior to assuming his current position in 2021, he held several finance roles of increasing responsibility, including controller for Armstrong Ceilings and Walls, external reporting and consolidations manager, and external reporting manager. Before joining Armstrong, Mr. Burge worked in auditing, controller, and financial reporting roles with Fulton Financial Corporation, York International, and the public accounting firm Grant Thornton LLP.

AI Analysis | Feedback

Here are the key risks to Armstrong World Industries (AWI):

Key Risks to Armstrong World Industries (AWI)

The primary risks to Armstrong World Industries (AWI) include:

  1. Softer Commercial Construction and Renovation Market Conditions: A significant risk to AWI is a projected softer market environment in the commercial construction and renovation sectors, which could negatively impact sales volumes and pricing power. Prolonged weakness in these areas could limit the company's volume growth and affect its financial performance.
  2. Volatile Material Costs and Supply Chain Disruptions: Armstrong World Industries faces potential headwinds from volatile material costs. Fluctuations in the prices of key raw materials like steel, copper, and aluminum, driven by factors such as tariffs, inflation, and energy costs, can squeeze profit margins. Additionally, broader supply chain dynamics pose a risk to the company's growth trajectory.
  3. Cybersecurity Threats: Cybersecurity is identified as a key risk management category within Armstrong World Industries' enterprise risk management program. Cybersecurity threats pose significant challenges to the company's operational stability and could impact its business.

AI Analysis | Feedback

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AI Analysis | Feedback

Armstrong World Industries (AWI) participates in significant addressable markets within the North American ceiling systems and architectural specialties sectors.

For its Architectural Specialties segment, which includes interior applications such as metal, wood, felt, glass-reinforced gypsum, and translucent ceiling and wall systems, the total addressable market (TAM) was approximately $1.5 billion in 2023. When including exterior metal solutions, this market expands to over $2.5 billion.

The broader North America ceiling tiles market, encompassing many of AWI's products, was estimated at approximately $2.74 billion in 2024. This market is projected to grow to about $6.14 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 9.4% from 2025 to 2033. The U.S. plays a dominant role within this region, holding an 82.75% revenue share in 2024. Mineral wool products, a key offering from AWI, constituted 42.6% of the North American ceiling tiles market by revenue in 2024. The non-residential sector accounted for the largest share, at 91.0%, in 2024.

Within the North America metal ceilings market, which is a component of AWI's offerings, a CAGR of 4.2% is projected from 2024 to 2031. The U.S. metal ceilings market alone is forecast to reach $706.5 million by 2031.

Additionally, Armstrong World Industries is involved in the acoustic solutions market. The North America acoustic panel market accounts for approximately 30% of the global market. The U.S. acoustic panel industry was valued at $2.2 billion in 2025 and is estimated to grow at a CAGR of 6.6% from 2026 to 2035. The global acoustic panel market, which includes products relevant to AWI's acoustical controls, was valued at $14.33 billion in 2025 and is projected to reach $27 billion by 2034.

AI Analysis | Feedback

Armstrong World Industries (AWI) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Market-Driven Product Innovation and New Product Launches: AWI consistently invests in research and development to launch new products, particularly those focused on sustainability, energy efficiency, and solutions for specialized sectors like data centers. Recent examples include the expansion of its Templok® Energy Saving Ceilings portfolio and the introduction of Ultima® Low Embodied Carbon ceiling panels, designed to reduce energy costs and carbon emissions. This approach is crucial for maintaining a competitive edge and meeting evolving customer needs in the building materials market.
  2. Expansion of Architectural Specialties Segment through Strategic Acquisitions and Organic Growth: The company is actively expanding its high-value Architectural Specialties segment through strategic acquisitions and organic growth. Key acquisitions in 2024 included 3form, LLC, Zahner, and BOK Modern, LLC, with Eventscape and Parallel Architectural Products acquired in 2025 and 2026 respectively. These moves bolster AWI's offerings in custom architectural projects and specialty wall solutions, diversifying revenue streams and capitalizing on emerging opportunities within the building materials sector.
  3. Pricing and Average Unit Value (AUV) Growth in the Mineral Fiber Segment: AWI has a proven ability to achieve average unit value (AUV) growth in its Mineral Fiber segment, driven by favorable pricing and product mix. This consistent AUV growth is expected to continue to more than offset input cost inflation and contribute significantly to overall revenue expansion.
  4. Digital Initiatives and Enhanced Customer Engagement: The company is investing in digital advancements and platforms, such as ProjectWorks, to improve customer experience and streamline project execution. These digital tools enhance engagement with designers and architects, contributing to growth objectives by improving efficiency and market penetration.
  5. Focus on Sustainability and Energy-Efficient Solutions: AWI's commitment to sustainability is a core element of its growth strategy. This includes its ceiling recycling program and the introduction of energy-saving and low-carbon products. This focus aligns with increasing market demand and regulatory requirements for environmentally conscious building materials and energy efficiency, positioning Armstrong to benefit from trends in building decarbonization.

AI Analysis | Feedback

Share Repurchases

  • Armstrong World Industries repurchased approximately $605.73 million of its common stock from Q1 2021 to Q4 2025.
  • The company repurchased $50 million of shares in the fourth quarter of 2025.
  • As of December 31, 2025, $533 million remained authorized under the existing share repurchase program, which extends through the end of 2026.

Share Issuance

  • The number of shares outstanding has generally decreased over the past few years, indicating no significant share issuances.

Outbound Investments

  • The company made strategic acquisitions in 2024, including 3form and Zahner.
  • In the fourth quarter of 2025, Armstrong World Industries acquired Parallel Architectural Products and announced the acquisition of Eventscape.
  • Armstrong World Industries has made a strategic equity investment in Overcast Innovations.

Capital Expenditures

  • Capital expenditures for the full year 2025 were $109.4 million, following $82.8 million in 2024, $83.8 million in 2023, $74.8 million in 2022, and $79.8 million in 2021.
  • A $26 million increase in capital expenditures in 2025 was primarily focused on enhancing manufacturing productivity, expanding capabilities at a Mineral Fiber facility to support the TEMPLOK energy-saving ceiling offering, and advancing IT and digital initiatives.
  • Capital expenditures in Q4 2025 were $47.8 million.

Better Bets vs. Armstrong World Industries (AWI)

Latest Trefis Analyses

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Trade Ideas

Select ideas related to AWI.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
GEO_4302026_Dip_Buyer_ValueBuy04302026GEOGEODip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.0%0.0%0.0%
RUN_4302026_Short_Squeeze04302026RUNSunrunSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		0.0%0.0%0.0%
RSG_4172026_Monopoly_xInd_xCD_Getting_Cheaper04172026RSGRepublic ServicesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.8%0.8%-1.1%
VRSK_4102026_Dip_Buyer_FCFYield04102026VRSKVerisk AnalyticsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		12.3%12.3%0.0%
UHAL_4102026_Monopoly_xInd_xCD_Getting_Cheaper04102026UHALU-HaulMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.3%0.3%-1.0%
AWI_6302022_Dip_Buyer_ValueBuy06302022AWIArmstrong World IndustriesDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-6.9%-0.7%-15.9%
AWI_10312020_Dip_Buyer_FCFYield10312020AWIArmstrong World IndustriesDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		74.1%78.1%0.0%

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Peer Comparisons

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Financials

AWIWDFCCOTYNWLENRHELEMedian
NameArmstron.WD-40 Coty Newell B.EnergizerHelen Of. 
Mkt Price168.46211.062.474.5519.6823.9321.80
Mkt Cap7.22.82.21.91.30.62.0
Rev LTM1,6486365,8077,1873,0001,7862,393
Op Inc LTM314105360480431107337
FCF LTM2398439119145132138
FCF 3Y Avg19789344263235161216
CFO LTM34789586244220171232
CFO 3Y Avg28794571511320197304

Growth & Margins

AWIWDFCCOTYNWLENRHELEMedian
NameArmstron.WD-40 Coty Newell B.EnergizerHelen Of. 
Rev Chg LTM9.7%4.2%-4.6%-4.1%3.4%-6.4%-0.4%
Rev Chg 3Y Avg9.4%7.8%3.6%-6.8%0.4%-4.8%2.0%
Rev Chg Q7.1%10.7%0.5%-1.1%6.5%-3.3%3.5%
QoQ Delta Rev Chg LTM1.7%2.5%0.2%-0.2%1.6%-0.9%0.9%
Op Inc Chg LTM9.8%5.3%-42.2%2.6%28.0%-48.9%3.9%
Op Inc Chg 3Y Avg13.2%9.9%9.8%-3.6%4.7%-19.1%7.2%
Op Mgn LTM19.0%16.5%6.2%6.7%14.4%6.0%10.5%
Op Mgn 3Y Avg18.9%16.5%9.0%5.9%12.9%10.3%11.6%
QoQ Delta Op Mgn LTM-0.6%0.1%-2.0%0.1%-1.1%-1.8%-0.9%
CFO/Rev LTM21.0%14.0%10.1%3.4%7.3%9.6%9.8%
CFO/Rev 3Y Avg19.2%15.8%9.6%6.6%10.9%10.3%10.6%
FCF/Rev LTM14.5%13.2%6.7%0.3%4.8%7.4%7.1%
FCF/Rev 3Y Avg13.1%14.9%5.8%3.3%8.0%8.4%8.2%

Valuation

AWIWDFCCOTYNWLENRHELEMedian
NameArmstron.WD-40 Coty Newell B.EnergizerHelen Of. 
Mkt Cap7.22.82.21.91.30.62.0
P/S4.44.50.40.30.40.30.4
P/Op Inc23.027.16.04.03.15.25.6
P/EBIT16.826.8-5.773.83.3-0.710.0
P/E23.535.6-4.1-6.86.3-0.62.8
P/CFO20.831.93.77.96.13.27.0
Total Yield4.5%3.7%-24.5%-9.7%22.3%-162.8%-3.0%
Dividend Yield0.2%0.9%0.0%5.0%6.4%0.0%0.6%
FCF Yield 3Y Avg3.1%2.8%7.5%8.1%11.5%18.8%7.8%
D/E0.10.01.52.92.51.51.5
Net D/E0.10.01.32.82.41.51.4

Returns

AWIWDFCCOTYNWLENRHELEMedian
NameArmstron.WD-40 Coty Newell B.EnergizerHelen Of. 
1M Rtn2.1%2.9%20.5%34.2%19.9%63.9%20.2%
3M Rtn-8.1%-8.3%-22.1%8.7%-8.7%44.5%-8.2%
6M Rtn-11.2%9.7%-37.8%38.6%-12.7%28.4%-0.7%
12M Rtn13.2%-7.1%-52.2%-8.0%-21.5%-15.2%-11.6%
3Y Rtn158.9%20.5%-79.3%-48.2%-33.1%-75.2%-40.6%
1M Excs Rtn-8.3%-6.8%11.1%18.9%9.5%55.2%10.3%
3M Excs Rtn-12.3%-12.5%-26.3%4.5%-12.9%40.3%-12.4%
6M Excs Rtn-16.9%6.4%-42.4%-9.3%-18.7%14.3%-13.1%
12M Excs Rtn-12.8%-35.6%-80.9%-28.8%-53.1%-43.9%-39.8%
3Y Excs Rtn83.7%-62.5%-157.1%-134.5%-109.4%-149.0%-122.0%

FDA Approved Drugs Data

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Post-Approval Fwd Returns
FDA
App #		Brand
Name		Generic
Name		Dosage
Form		FDA
Approval		3M
Rtn		6M
Rtn		1Y
Rtn		2Y
Rtn		Total
Rtn
ANDA217953  IPRATROPIUM BROMIDEipratropium bromideaerosol, metered2232026-12.5%-12.5%-12.5%-12.5%-12.5%
ANDA212447  ALBUTEROL SULFATEalbuterol sulfateaerosol, metered52120245.8%34.1%36.8%48.6%48.6%
NDA205920  PRIMATENE MISTepinephrineaerosol, metered11072018-3.3%24.5%34.6%-11.5%157.7%

Financials

Segment Financials

Assets by Segment
$ Mil20252024202320222021
Mineral Fiber1,0641,0921,0971,1341,101
Architectural Specialties602421388366358
Unallocated Corporate177159203210260
Total1,8431,6721,6871,7101,718


Price Behavior

Price Behavior
Market Price$168.46 
Market Cap ($ Bil)7.2 
First Trading Date10/18/2006 
Distance from 52W High-17.0% 
   50 Days200 Days
DMA Price$171.54$185.81
DMA Trendindeterminatedown
Distance from DMA-1.8%-9.3%
 3M1YR
Volatility31.6%24.7%
Downside Capture0.450.37
Upside Capture25.1463.16
Correlation (SPY)33.2%40.8%
AWI Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta1.260.900.700.800.810.90
Up Beta1.511.391.321.071.090.91
Down Beta3.541.031.041.060.960.87
Up Capture69%61%23%42%55%101%
Bmk +ve Days15223166141428
Stock +ve Days13213261130397
Down Capture-84%66%46%76%66%93%
Bmk -ve Days4183056108321
Stock -ve Days9223264122354

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with AWI
AWI17.1%24.7%0.59-
Sector ETF (XLI)33.7%15.4%1.6849.8%
Equity (SPY)30.6%12.5%1.8841.4%
Gold (GLD)39.5%27.2%1.206.8%
Commodities (DBC)51.5%17.9%2.20-11.9%
Real Estate (VNQ)13.1%13.5%0.6742.6%
Bitcoin (BTCUSD)-17.1%42.2%-0.3321.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with AWI
AWI12.0%26.1%0.43-
Sector ETF (XLI)13.0%17.4%0.5967.5%
Equity (SPY)12.8%17.1%0.5961.9%
Gold (GLD)20.5%17.9%0.948.1%
Commodities (DBC)14.3%19.1%0.6110.1%
Real Estate (VNQ)3.5%18.8%0.0956.8%
Bitcoin (BTCUSD)7.7%56.2%0.3523.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with AWI
AWI15.7%29.9%0.54-
Sector ETF (XLI)13.8%19.9%0.6165.4%
Equity (SPY)14.9%17.9%0.7160.9%
Gold (GLD)13.6%15.9%0.711.6%
Commodities (DBC)9.7%17.7%0.4620.3%
Real Estate (VNQ)5.7%20.7%0.2455.7%
Bitcoin (BTCUSD)67.7%66.9%1.0716.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date4152026
Short Interest: Shares Quantity0.9 Mil
Short Interest: % Change Since 33120264.6%
Average Daily Volume0.4 Mil
Days-to-Cover Short Interest2.4 days
Basic Shares Quantity42.8 Mil
Short % of Basic Shares2.1%

Returns Analyses

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/24/2026-9.6%-10.8%-13.9%
10/28/2025-4.5%-5.0%-6.2%
7/29/20259.4%12.3%17.2%
2/25/20255.2%4.4%0.4%
10/29/20242.0%4.2%18.2%
7/30/20241.1%-7.5%-4.4%
4/30/2024-3.3%-1.7%-3.1%
2/20/202411.8%16.5%18.0%
...
SUMMARY STATS   
# Positive101010
# Negative999
Median Positive3.9%7.3%16.3%
Median Negative-3.3%-6.7%-4.4%
Max Positive11.8%16.5%22.5%
Max Negative-11.7%-13.5%-14.4%

SEC Filings

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Report DateFiling DateFiling
03/31/202604/28/202610-Q
12/31/202502/24/202610-K
09/30/202510/28/202510-Q
06/30/202507/29/202510-Q
03/31/202504/29/202510-Q
12/31/202402/25/202510-K
09/30/202410/29/202410-Q
06/30/202407/30/202410-Q
03/31/202404/30/202410-Q
12/31/202302/20/202410-K
09/30/202310/24/202310-Q
06/30/202307/25/202310-Q
03/31/202304/25/202310-Q
12/31/202202/21/202310-K
09/30/202210/25/202210-Q
06/30/202207/26/202210-Q

Recent Forward Guidance [BETA]

Latest: Q1 2026 Earnings Reported 4/28/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue1.75 Bil1.76 Bil1.78 Bil0 AffirmedGuidance: 1.76 Bil for 2026
2026 Adjusted EBITDA600.00 Mil610.00 Mil620.00 Mil0 AffirmedGuidance: 610.00 Mil for 2026
2026 EPS8.158.38.451.2% RaisedGuidance: 8.2 for 2026
2026 Free Cash Flow375.00 Mil385.00 Mil395.00 Mil0 AffirmedGuidance: 385.00 Mil for 2026

Prior: Q4 2025 Earnings Reported 2/24/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue1.75 Bil1.76 Bil1.78 Bil8.2% Higher NewActual: 1.63 Bil for 2025
2026 Adjusted EBITDA600.00 Mil610.00 Mil620.00 Mil9.3% Higher NewActual: 558.00 Mil for 2025
2026 EPS8.058.28.359.3% Higher NewActual: 7.5 for 2025
2026 Free Cash Flow375.00 Mil385.00 Mil395.00 Mil11.0% Higher NewActual: 347.00 Mil for 2025

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Templin, Roy W DirectBuy3022026173.9157599,9983,382,723Form
2Osborne, William H DirectSell8112025188.7810018,878800,616Form

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