Armstrong World Industries Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Armstrong World Industries Inc reported revenue of $1.6B (+12.1% year on year) and net income of $308.7M (+16.5% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net sales | $1.6B | $1.4B | $1.3B | $1.2B |
| Cost of goods sold | $962.1M | $864.1M | $798.2M | $784.0M |
| Gross profit | $658.7M | $581.6M | $497.0M | $449.1M |
| Selling, general and administrative expenses | $339.5M | $308.5M | $262.5M | $237.0M |
| Loss related to change in fair value of contingent consideration | $1.4M | $1.6M | $100.0K | $11.0M |
| (Gain) loss on sales of fixed assets, net | ($800.0K) | $600.0K | — | — |
| Equity earnings from unconsolidated affiliates, net | ($112.3M) | ($103.4M) | ($89.3M) | ($77.6M) |
| Operating income | $430.9M | $374.3M | $323.7M | $278.7M |
| Interest expense | $33.0M | $39.8M | $35.3M | $27.1M |
| Other non-operating (income), net | ($2.4M) | ($12.6M) | ($9.9M) | ($6.0M) |
| Earnings before income taxes | $400.3M | $347.1M | $298.3M | $257.6M |
| Income tax expense | $91.6M | $82.2M | $74.5M | $57.7M |
| Net earnings | $308.7M | $264.9M | $223.8M | $202.9M |
| Foreign currency translation adjustments | $1.7M | ($3.2M) | $500.0K | ($1.8M) |
| Derivative (loss), net | ($1.5M) | ($1.6M) | ($9.0M) | $18.6M |
| Pension and postretirement adjustments | $6.9M | ($700.0K) | $3.9M | ($7.3M) |
| Total other comprehensive income (loss) | $7.1M | ($5.5M) | ($4.6M) | $9.5M |
| Total comprehensive income | $315.8M | $259.4M | $219.2M | $212.4M |
| Basic | $7.13 | $6.06 | $5.00 | $4.31 |
| Diluted | $7.08 | $6.02 | $4.99 | $4.30 |
| Basic | 43.3M | 0 | 0 | 0.07 |
| Diluted | 43.6M | 0 | 0 | 0.07 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net sales | $472.0M | $409.9M | $425.2M | $424.6M |
| Cost of goods sold | $277.0M | $254.6M | $246.7M | $248.8M |
| Gross profit | $195.0M | $155.3M | $178.5M | $175.8M |
| Selling, general and administrative expenses | $93.7M | $88.4M | $90.1M | $84.5M |
| Loss related to change in fair value of contingent consideration, net | $900.0K | — | $100.0K | — |
| Equity (earnings) from unconsolidated affiliates, net | ($33.4M) | ($27.3M) | ($28.0M) | ($31.9M) |
| Operating income | $133.8M | $94.2M | $117.2M | $123.2M |
| Interest expense | $7.8M | $7.3M | $8.2M | $8.6M |
| Other non-operating (income), net | ($900.0K) | ($1.5M) | ($500.0K) | ($700.0K) |
| Earnings before income taxes | $126.9M | $88.4M | $109.5M | $115.3M |
| Income tax expense | $30.2M | $21.6M | $23.2M | $27.5M |
| Net earnings | $96.7M | $66.8M | $86.3M | $87.8M |
| Foreign currency translation adjustments | ($2.4M) | ($700.0K) | ($900.0K) | $1.5M |
| Derivative gain (loss), net | $1.2M | $1.1M | $0 | ($300.0K) |
| Pension and postretirement adjustments | $700.0K | $600.0K | $600.0K | $700.0K |
| Total other comprehensive (loss) income, net of tax | ($500.0K) | $1.0M | ($300.0K) | $1.9M |
| Total comprehensive income | $96.2M | $67.8M | $86.0M | $89.7M |
| Basic | $2.28 | $1.56 | $2.00 | $2.02 |
| Diluted | $2.26 | $1.55 | $1.98 | $2.01 |
| Basic | 42.5M | 42.8M | 43.2M | 43.4M |
| Diluted | 42.7M | 43.2M | 43.6M | 43.7M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $112.7M | $79.3M | $70.8M | $106.0M |
| Accounts and notes receivable, net | $130.3M | $134.4M | $111.0M | $112.4M |
| Inventories, net | $124.6M | $109.8M | $104.0M | $110.0M |
| Income taxes receivable | $0 | $3.9M | $800.0K | $1.8M |
| Other current assets | $23.9M | $21.5M | $26.4M | $26.3M |
| Total current assets | $391.5M | $348.9M | $313.0M | $356.5M |
| Property, plant, and equipment, net | $630.7M | $598.8M | $566.4M | $554.4M |
| Operating lease assets | $46.4M | $36.6M | $26.6M | $18.8M |
| Finance lease assets | $35.9M | $34.6M | $25.2M | $16.0M |
| Prepaid pension costs | $99.7M | $88.3M | $84.6M | $83.2M |
| Investment in unconsolidated affiliates | $26.6M | $27.2M | $17.4M | $23.9M |
| Goodwill | $217.8M | $203.2M | $175.5M | $167.3M |
| Intangible assets, net | $425.2M | $455.0M | $412.4M | $407.7M |
| Other non-current assets | $50.9M | $50.1M | $51.3M | $59.4M |
| Total assets | $1.9B | $1.8B | $1.7B | $1.7B |
| Current installments of long-term debt | $10.3M | $22.5M | $22.5M | $0 |
| Accounts payable and accrued expenses | $237.1M | $215.3M | $159.9M | $172.5M |
| Operating lease liabilities | $10.5M | $8.1M | $6.8M | $5.9M |
| Finance lease liabilities | $6.3M | $3.8M | $3.0M | $2.2M |
| Income taxes payable | $3.2M | $0 | $2.3M | $2.1M |
| Total current liabilities | $267.4M | $249.7M | $194.5M | $182.7M |
| Long-term debt, less current installments | $396.4M | $502.6M | $564.3M | $651.1M |
| Operating lease liabilities | $37.9M | $29.7M | $20.4M | $13.2M |
| Finance lease liabilities | $32.5M | $33.2M | $23.4M | $14.6M |
| Postretirement benefit liabilities | $32.7M | $35.3M | $42.4M | $54.8M |
| Pension benefit liabilities | $24.3M | $24.6M | $26.9M | $27.6M |
| Other long-term liabilities | $33.9M | $28.4M | $26.8M | $25.8M |
| Income taxes payable | $6.1M | $15.0M | $15.0M | $13.1M |
| Deferred income taxes | $192.8M | $167.1M | $166.9M | $169.3M |
| Total non-current liabilities | $756.6M | $835.9M | $886.1M | $969.5M |
| Common stock, $0.01 par value per share, 200 million shares authorized, 63,300,018 shares issued and 42,916,593 shares outstanding as of December 31, 2025 and 63,176,007 shares issued and 43,561,649 shares outstanding as of December 31, 2024 | $600000.00 | $600000.00 | $600000.00 | $600000.00 |
| Capital in excess of par value | $617.2M | $604.0M | $591.7M | $573.6M |
| Retained earnings | $1.8B | $1.6B | $1.3B | $1.2B |
| Treasury stock, at cost, 20,383,425 shares as of December 31, 2025 and 19,614,358 shares as of December 31, 2024 | -1.4B | -1.3B | -1.2B | -1.1B |
| Accumulated other comprehensive (loss) | ($103.1M) | ($110.2M) | ($104.7M) | ($100.1M) |
| Total shareholders' equity | $900.7M | $757.1M | $591.8M | $535.0M |
| Total liabilities and shareholders' equity | $1.9B | $1.8B | $1.7B | $1.7B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $78.6M | $79.8M | $90.1M | $81.1M |
| Accounts and notes receivable, net | $188.6M | $165.6M | $157.8M | $155.1M |
| Inventories, net | $127.4M | $129.5M | $123.5M | $116.4M |
| Income taxes receivable | $4.7M | — | $4.0M | $3.9M |
| Other current assets | $26.0M | $27.5M | $20.3M | $19.1M |
| Total current assets | $425.3M | $402.4M | $395.7M | $375.6M |
| Property, plant, and equipment, net of accumulated depreciation and amortization of $768.7 and $735.9, respectively | $629.8M | $624.4M | $598.7M | $595.1M |
| Operating lease assets | $49.0M | $50.5M | $48.2M | $37.8M |
| Finance lease assets | $34.4M | $36.0M | $35.3M | $36.8M |
| Prepaid pension costs | $103.1M | $101.4M | $92.0M | $90.8M |
| Investments in unconsolidated affiliates | $29.6M | $24.2M | $31.3M | $34.6M |
| Goodwill | $259.2M | $256.7M | $214.4M | $208.5M |
| Intangible assets, net | $432.1M | $437.7M | $429.6M | $435.3M |
| Other non-current assets | $44.3M | $52.6M | $48.2M | $47.5M |
| Total assets | $2.0B | $2.0B | $1.9B | $1.9B |
| Current installments of long-term debt | $10.3M | $10.3M | $22.5M | $22.5M |
| Accounts payable and accrued expenses | $240.7M | $214.5M | $218.7M | $188.2M |
| Operating lease liabilities | $12.2M | $12.2M | $9.9M | $8.9M |
| Finance lease liabilities | $6.0M | $5.8M | $6.1M | $5.9M |
| Income taxes payable | $10.8M | $19.3M | $3.9M | $7.4M |
| Total current liabilities | $280.0M | $262.1M | $261.1M | $232.9M |
| Long-term debt, less current installments | $481.7M | $469.0M | $386.4M | $461.8M |
| Operating lease liabilities | $39.0M | $40.5M | $39.9M | $30.3M |
| Finance lease liabilities | $30.2M | $31.2M | $31.5M | $32.3M |
| Postretirement benefit liabilities | $31.7M | $32.4M | $32.2M | $33.7M |
| Pension benefit liabilities | $23.6M | $24.0M | $23.3M | $23.6M |
| Other long-term liabilities | $32.2M | $30.4M | $32.6M | $31.7M |
| Income taxes payable | $8.5M | $8.3M | $10.0M | $14.4M |
| Deferred income taxes | $195.6M | $195.1M | $187.2M | $163.5M |
| Total non-current liabilities | $842.5M | $830.9M | $743.1M | $791.3M |
| Common stock, $0.01 par value per share, 200 million shares authorized, 63,511,150 shares issued and 42,327,893 shares outstanding as of June 30, 2026 and 63,300,018 shares issued and 42,916,593 shares outstanding as of December 31, 2025 | $600000.00 | $600000.00 | $600000.00 | $600000.00 |
| Capital in excess of par value | $602.7M | $616.9M | $612.2M | $605.9M |
| Retained earnings | $1.9B | $1.9B | $1.8B | $1.7B |
| Treasury stock, at cost, 21,183,257 shares as of June 30, 2026 and 20,383,425 shares as of December 31, 2025 | -1.6B | -1.5B | -1.4B | -1.4B |
| Accumulated other comprehensive (loss) | ($102.6M) | ($102.1M) | ($109.2M) | ($108.9M) |
| Total shareholders' equity | $884.3M | $892.9M | $889.2M | $837.8M |
| Total liabilities and shareholders' equity | $2.0B | $2.0B | $1.9B | $1.9B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net earnings | $308.7M | $264.9M | $223.8M | $202.9M |
| Depreciation and amortization | $120.4M | $103.2M | $89.2M | $83.7M |
| Deferred income taxes | $24.1M | $200.0K | ($800.0K) | ($1.6M) |
| Share-based compensation | $21.9M | $18.3M | $18.8M | $14.3M |
| Equity earnings from unconsolidated affiliates, net | ($112.3M) | ($103.4M) | ($89.3M) | ($77.6M) |
| Loss related to change in fair value of contingent consideration | $1.4M | $1.6M | $100.0K | $11.0M |
| (Gain) loss on sales of fixed assets, net | ($800.0K) | $600.0K | — | — |
| Payments of contingent consideration in excess of acquisition date fair value | ($700.0K) | $0 | ($5.0M) | ($1.9M) |
| Write-off of debt refinancing fees | $200.0K | $0 | $0 | $600.0K |
| Other non-cash adjustments, net | $1.5M | ($100.0K) | $500.0K | $1.0M |
| Receivables | ($7.5M) | ($24.6M) | ($1.6M) | ($12.4M) |
| Inventories | ($12.8M) | $1.9M | $6.1M | ($19.7M) |
| Accounts payable and accrued expenses | $28.4M | $27.3M | $8.0M | ($1.8M) |
| Income taxes receivable and payable, net | ($1.8M) | ($5.4M) | $3.2M | ($6.9M) |
| Other assets and liabilities | ($15.2M) | ($17.7M) | ($18.5M) | ($8.5M) |
| Net cash provided by operating activities | $355.5M | $266.8M | $233.5M | $182.4M |
| Purchases of property, plant and equipment | ($109.4M) | ($82.8M) | ($83.8M) | ($74.8M) |
| Return of investment from joint venture | $113.0M | $97.8M | $96.9M | $104.5M |
| Acquisitions, net of cash acquired | ($13.9M) | — | ($26.5M) | ($2.8M) |
| Investment in unconsolidated affiliate | $0 | ($123.5M) | — | — |
| Proceeds from the sales of fixed assets | $1.0M | $24.3M | $0 | $0 |
| Proceeds from company-owned life insurance, net | $5.7M | $10.4M | $3.0M | $1.3M |
| Net cash (used for) provided by investing activities | ($3.6M) | ($79.3M) | ($10.4M) | $28.2M |
| Proceeds from revolving credit facility | $10.0M | $138.0M | $55.0M | $355.0M |
| Payments of revolving credit facility | ($110.0M) | ($178.0M) | ($120.0M) | ($315.0M) |
| Proceeds from long-term debt | $410.6M | $0 | $0 | $450.0M |
| Payments of long-term debt | ($427.5M) | ($22.5M) | $0 | ($468.7M) |
| Financing costs | ($2.6M) | $0 | $0 | ($3.1M) |
| Payments for finance leases | ($5.8M) | ($3.3M) | ($2.7M) | ($2.2M) |
| Dividends paid | ($55.2M) | ($50.6M) | ($46.9M) | ($44.2M) |
| Payments of tax withholdings for share-based compensation plans, net of issuances | ($8.7M) | — | — | — |
| Payments of acquisition related contingent consideration | ($800.0K) | $0 | ($10.2M) | ($6.7M) |
| Payments for treasury stock acquired, including excise taxes | ($128.9M) | ($55.0M) | ($132.0M) | ($165.0M) |
| Other financing activities | ($400.0K) | — | — | — |
| Net cash (used for) financing activities | ($319.3M) | ($177.6M) | ($258.6M) | ($201.9M) |
| Effect of exchange rate changes on cash and cash equivalents | $800.0K | ($1.4M) | $300.0K | ($800.0K) |
| Net increase (decrease) in cash and cash equivalents | $33.4M | $8.5M | ($35.2M) | $7.9M |
| Cash and cash equivalents at beginning of year | $79.3M | $70.8M | $106.0M | $98.1M |
| Cash and cash equivalents at end of year | $112.7M | $79.3M | $70.8M | $106.0M |
| Interest paid | $29.7M | $37.4M | $33.9M | $26.9M |
| Income tax payments, net | $69.3M | $87.6M | $72.1M | $63.2M |
| Amounts in accounts payable for capital expenditures | $6.7M | $4.9M | $2.4M | $2.8M |
| Purchases of property, plant and equipment through vendor financing | $3.1M | $1.1M | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net earnings | $163.5M | $66.8M | $243.2M | $156.9M |
| Depreciation and amortization | $59.9M | $29.7M | $89.9M | $59.8M |
| Deferred income taxes | $3.2M | $1.6M | $20.1M | ($3.0M) |
| Share-based compensation | $9.8M | $3.8M | $16.3M | $9.8M |
| Equity earnings from unconsolidated affiliates, net | ($60.7M) | ($27.3M) | ($86.5M) | ($58.5M) |
| Loss related to change in fair value of contingent consideration, net | $900.0K | $0 | $500.0K | $400.0K |
| Payments of contingent consideration in excess of acquisition-date fair value | ($1.5M) | ($1.5M) | ($700.0K) | ($700.0K) |
| Other non-cash adjustments, net | ($300.0K) | $0 | $1.2M | $900.0K |
| Receivables | ($62.4M) | ($35.8M) | ($31.5M) | ($25.6M) |
| Inventories | ($2.7M) | ($4.7M) | ($13.2M) | ($6.4M) |
| Accounts payable and accrued expenses | $7.1M | ($13.5M) | $12.4M | ($17.1M) |
| Income taxes receivable and payable, net | $3.2M | $16.2M | ($1.2M) | $6.8M |
| Other assets and liabilities | $5.9M | ($3.2M) | ($4.2M) | ($700.0K) |
| Net cash provided by operating activities | $125.9M | $32.1M | $245.5M | $122.6M |
| Purchases of property, plant and equipment | ($41.7M) | ($17.7M) | ($61.6M) | ($39.0M) |
| Return of investment from joint venture | $57.6M | $29.6M | $82.5M | $51.3M |
| Acquisitions, net of cash acquired | ($64.8M) | ($64.8M) | ($6.7M) | $800.0K |
| Proceeds from company owned life insurance, net | $4.0M | $1.5M | $1.6M | $100.0K |
| Net cash (used for) provided by investing activities | ($44.9M) | ($51.4M) | $16.8M | $13.2M |
| Proceeds from revolving credit facility | $115.0M | $85.0M | $10.0M | $10.0M |
| Payments of revolving credit facility | ($25.0M) | ($10.0M) | ($110.0M) | ($40.0M) |
| Payments of long-term debt | ($5.1M) | ($2.6M) | ($16.9M) | ($11.3M) |
| Payments for finance leases | ($4.7M) | ($3.7M) | ($6.2M) | ($5.1M) |
| Payments of vendor financed property, plant and equipment purchases | ($2.6M) | ($2.6M) | — | — |
| Dividends paid | ($30.2M) | ($14.7M) | ($40.6M) | ($27.2M) |
| Payments of tax withholdings for share-based compensation plans, net of issuances | ($24.2M) | ($4.0M) | ($8.1M) | ($7.9M) |
| Payments of acquisition-related contingent consideration | $0 | $0 | ($800.0K) | ($800.0K) |
| Payments for treasury stock acquired | ($137.4M) | ($60.6M) | ($79.4M) | ($52.4M) |
| Net cash (used for) financing activities | ($114.2M) | ($13.2M) | ($252.0M) | ($134.7M) |
| Effect of exchange rate changes on cash and cash equivalents | ($900.0K) | ($400.0K) | $500.0K | $700.0K |
| Net (decrease) increase in cash and cash equivalents | ($34.1M) | ($32.9M) | $10.8M | $1.8M |
| Cash and cash equivalents at beginning of year | $112.7M | $112.7M | $79.3M | $79.3M |
| Cash and cash equivalents at end of period | $78.6M | $79.8M | $90.1M | $81.1M |
| Interest paid | $13.5M | $6.3M | $22.9M | $16.5M |
| Income tax payments, net | $45.5M | $3.9M | $53.4M | $45.3M |
| Amounts in accounts payable for capital expenditures | $9.4M | $6.2M | $4.6M | $3.1M |
| Purchases of property, plant and equipment through vendor financing | $0 | $0 | $1.6M | $1.6M |
Armstrong World Industries Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.