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Side-by-side financial comparison of ARMSTRONG WORLD INDUSTRIES INC (AWI) and COMMERCE BANCSHARES INC (CBSH). Click either name above to swap in a different company.
COMMERCE BANCSHARES INC is the larger business by last-quarter revenue ($475.7M vs $388.3M, roughly 1.2× ARMSTRONG WORLD INDUSTRIES INC). COMMERCE BANCSHARES INC runs the higher net margin — 29.8% vs 16.9%, a 12.9% gap on every dollar of revenue. On growth, COMMERCE BANCSHARES INC posted the faster year-over-year revenue change (11.1% vs 5.6%). Over the past eight quarters, ARMSTRONG WORLD INDUSTRIES INC's revenue compounded faster (9.1% CAGR vs 7.1%).
Armstrong World Industries, Inc. is an international designer and manufacturer of wall and ceiling building materials based in Lancaster, Pennsylvania. As of 2014, AWI had 3,100 employees and a global manufacturing network of 17 facilities, down from 26, including nine plants dedicated to its WAVE joint venture, in 2012.
Commerce Bancshares, Inc. is a regional bank holding company headquartered in Missouri, with principal offices in Kansas City and St. Louis. It is the corporate parent of Commerce Bank, which offers a diversified line of financial services, including business and personal banking, wealth management and investments through its affiliated companies.
AWI vs CBSH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $388.3M | $475.7M |
| Net Profit | $65.5M | $141.6M |
| Gross Margin | 39.8% | — |
| Operating Margin | 23.7% | — |
| Net Margin | 16.9% | 29.8% |
| Revenue YoY | 5.6% | 11.1% |
| Net Profit YoY | 5.3% | 10.5% |
| EPS (diluted) | $1.51 | $0.96 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $475.7M | ||
| Q4 25 | $388.3M | $449.4M | ||
| Q3 25 | $425.2M | $441.0M | ||
| Q2 25 | $424.6M | $445.8M | ||
| Q1 25 | $382.7M | $428.1M | ||
| Q4 24 | $367.7M | $422.1M | ||
| Q3 24 | $386.6M | $421.4M | ||
| Q2 24 | $365.1M | $414.5M |
| Q1 26 | — | $141.6M | ||
| Q4 25 | $65.5M | $140.7M | ||
| Q3 25 | $86.3M | $141.5M | ||
| Q2 25 | $87.8M | $152.5M | ||
| Q1 25 | $69.1M | $131.6M | ||
| Q4 24 | $62.2M | $136.1M | ||
| Q3 24 | $76.9M | $138.0M | ||
| Q2 24 | $65.9M | $139.6M |
| Q1 26 | — | — | ||
| Q4 25 | 39.8% | — | ||
| Q3 25 | 42.0% | — | ||
| Q2 25 | 41.4% | — | ||
| Q1 25 | 39.2% | — | ||
| Q4 24 | 39.1% | — | ||
| Q3 24 | 42.4% | — | ||
| Q2 24 | 40.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | 40.8% | ||
| Q3 25 | 27.6% | 41.9% | ||
| Q2 25 | 29.0% | 44.0% | ||
| Q1 25 | 25.7% | 39.2% | ||
| Q4 24 | 22.3% | 41.2% | ||
| Q3 24 | 28.8% | 42.4% | ||
| Q2 24 | 26.0% | 43.4% |
| Q1 26 | — | 29.8% | ||
| Q4 25 | 16.9% | 31.3% | ||
| Q3 25 | 20.3% | 32.1% | ||
| Q2 25 | 20.7% | 34.2% | ||
| Q1 25 | 18.1% | 30.7% | ||
| Q4 24 | 16.9% | 32.2% | ||
| Q3 24 | 19.9% | 32.8% | ||
| Q2 24 | 18.0% | 33.7% |
| Q1 26 | — | $0.96 | ||
| Q4 25 | $1.51 | $0.86 | ||
| Q3 25 | $1.98 | $1.06 | ||
| Q2 25 | $2.01 | $1.14 | ||
| Q1 25 | $1.58 | $0.98 | ||
| Q4 24 | $1.41 | $0.83 | ||
| Q3 24 | $1.75 | $1.01 | ||
| Q2 24 | $1.50 | $1.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $112.7M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $900.7M | $4.3B |
| Total Assets | $1.9B | $35.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $112.7M | — | ||
| Q3 25 | $90.1M | — | ||
| Q2 25 | $81.1M | — | ||
| Q1 25 | $82.8M | — | ||
| Q4 24 | $79.3M | — | ||
| Q3 24 | $73.7M | — | ||
| Q2 24 | $73.6M | — |
| Q1 26 | — | $4.3B | ||
| Q4 25 | $900.7M | $3.8B | ||
| Q3 25 | $889.2M | $3.8B | ||
| Q2 25 | $837.8M | $3.6B | ||
| Q1 25 | $793.4M | $3.5B | ||
| Q4 24 | $757.1M | $3.3B | ||
| Q3 24 | $717.0M | $3.4B | ||
| Q2 24 | $669.0M | $3.1B |
| Q1 26 | — | $35.7B | ||
| Q4 25 | $1.9B | $32.9B | ||
| Q3 25 | $1.9B | $32.3B | ||
| Q2 25 | $1.9B | $32.3B | ||
| Q1 25 | $1.9B | $32.4B | ||
| Q4 24 | $1.8B | $32.0B | ||
| Q3 24 | $1.8B | $31.5B | ||
| Q2 24 | $1.8B | $30.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $110.0M | — |
| Free Cash FlowOCF − Capex | $62.2M | — |
| FCF MarginFCF / Revenue | 16.0% | — |
| Capex IntensityCapex / Revenue | 12.3% | — |
| Cash ConversionOCF / Net Profit | 1.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | $246.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $110.0M | $645.1M | ||
| Q3 25 | $122.9M | $129.0M | ||
| Q2 25 | $81.6M | $111.2M | ||
| Q1 25 | $41.0M | $138.6M | ||
| Q4 24 | $86.6M | $577.9M | ||
| Q3 24 | $96.5M | $431.7M | ||
| Q2 24 | $57.3M | $147.4M |
| Q1 26 | — | — | ||
| Q4 25 | $62.2M | $592.4M | ||
| Q3 25 | $100.3M | $113.3M | ||
| Q2 25 | $61.7M | $100.5M | ||
| Q1 25 | $21.9M | $126.0M | ||
| Q4 24 | $57.8M | $531.7M | ||
| Q3 24 | $77.1M | $419.1M | ||
| Q2 24 | $37.4M | $138.9M |
| Q1 26 | — | — | ||
| Q4 25 | 16.0% | 131.8% | ||
| Q3 25 | 23.6% | 25.7% | ||
| Q2 25 | 14.5% | 22.5% | ||
| Q1 25 | 5.7% | 29.4% | ||
| Q4 24 | 15.7% | 126.0% | ||
| Q3 24 | 19.9% | 99.5% | ||
| Q2 24 | 10.2% | 33.5% |
| Q1 26 | — | — | ||
| Q4 25 | 12.3% | 11.7% | ||
| Q3 25 | 5.3% | 3.6% | ||
| Q2 25 | 4.7% | 2.4% | ||
| Q1 25 | 5.0% | 2.9% | ||
| Q4 24 | 7.8% | 10.9% | ||
| Q3 24 | 5.0% | 3.0% | ||
| Q2 24 | 5.5% | 2.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | 4.59× | ||
| Q3 25 | 1.42× | 0.91× | ||
| Q2 25 | 0.93× | 0.73× | ||
| Q1 25 | 0.59× | 1.05× | ||
| Q4 24 | 1.39× | 4.25× | ||
| Q3 24 | 1.25× | 3.13× | ||
| Q2 24 | 0.87× | 1.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AWI
| Distributors | $183.0M | 47% |
| Architectural Specialties | $143.7M | 37% |
| Home Centers | $27.2M | 7% |
| Retailers And Other | $21.7M | 6% |
| Direct Customers | $12.7M | 3% |
CBSH
Segment breakdown not available.
