AWIARMSTRONG WORLD INDUSTRIES INC
Plastics Products, NEC
- Revenue
- $1.6B
- 12% YoY
- Operating margin
- 26.6%
- 2.7% YoY
- EBITDA
- $551M
- 15% YoY
- Market cap
- $7.0B
- Employees
- 260
- $6M revenue each
- Net debt / EBITDA
- 1.8×
- $971M net debt
- AI in 10-K
- 1.1
- mentions per 10K words
Takeover score 0 of 13
Fixable underperformance 0 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$9M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo115% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo52% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo13% of assetsOver 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$6M · 92nd pctBottom quartile of its SIC industry
- Quiet on AINo1.1 per 10K words · 36th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo1.8× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$7.0B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$100K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.2B | $1.3B | $1.4B | $1.6B | 12% |
| Operating income | $260M | $279M | $324M | $374M | $431M | 15% |
| Net income | $183M | $203M | $224M | $265M | $309M | 17% |
| Operating cash flow | $187M | $182M | $234M | $267M | $356M | 33% |
| Capex | $80M | $75M | $84M | $83M | $109M | 32% |
| Stock-based comp | $11M | $14M | $19M | $18M | $22M | 20% |
| Buybacks | $80M | $165M | $132M | $56M | $129M | 129% |
| Dividends | $41M | $44M | $47M | $51M | $55M | 9.1% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $100K · 1
- Open-market sells, 12 mo
- $0 · 0
- Net
- $100K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $9M | $30M | 269 | 135 |
| FY2024 | $9M | $31M | 198 | 146 |
| FY2023 | $14M | $19M | 137 | 135 |
| FY2022 | $6M | −$9M | 94 | 95 |
| FY2021 | $7M | $20M | 157 | 139 |