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Side-by-side financial comparison of ARMSTRONG WORLD INDUSTRIES INC (AWI) and Forestar Group Inc. (FOR). Click either name above to swap in a different company.
ARMSTRONG WORLD INDUSTRIES INC is the larger business by last-quarter revenue ($388.3M vs $273.0M, roughly 1.4× Forestar Group Inc.). ARMSTRONG WORLD INDUSTRIES INC runs the higher net margin — 16.9% vs 5.6%, a 11.2% gap on every dollar of revenue. On growth, Forestar Group Inc. posted the faster year-over-year revenue change (9.0% vs 5.6%). ARMSTRONG WORLD INDUSTRIES INC produced more free cash flow last quarter ($62.2M vs $-157.1M). Over the past eight quarters, ARMSTRONG WORLD INDUSTRIES INC's revenue compounded faster (9.1% CAGR vs -9.6%).
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.
Forestar Group Inc. is a residential lot development company based in Arlington, Texas. The company has operations in 51 markets in 21 states and delivered 11,518 residential lots during the twelve-month period ended December 31, 2020. The company is publicly traded on the New York Stock Exchange and in October 2017 became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. The company primarily acquires entitled real estate and...
AWI vs FOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $388.3M | $273.0M |
| Net Profit | $65.5M | $15.4M |
| Gross Margin | 39.8% | 20.1% |
| Operating Margin | 23.7% | 7.6% |
| Net Margin | 16.9% | 5.6% |
| Revenue YoY | 5.6% | 9.0% |
| Net Profit YoY | 5.3% | -6.7% |
| EPS (diluted) | $1.51 | $0.30 |
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.
| Q4 25 | $388.3M | $273.0M | ||
| Q3 25 | $425.2M | $670.5M | ||
| Q2 25 | $424.6M | $390.5M | ||
| Q1 25 | $382.7M | $351.0M | ||
| Q4 24 | $367.7M | $250.4M | ||
| Q3 24 | $386.6M | $551.3M | ||
| Q2 24 | $365.1M | $318.4M | ||
| Q1 24 | $326.3M | $333.8M |
| Q4 25 | $65.5M | $15.4M | ||
| Q3 25 | $86.3M | $86.9M | ||
| Q2 25 | $87.8M | $32.9M | ||
| Q1 25 | $69.1M | $31.6M | ||
| Q4 24 | $62.2M | $16.5M | ||
| Q3 24 | $76.9M | $81.5M | ||
| Q2 24 | $65.9M | $38.7M | ||
| Q1 24 | $59.9M | $45.0M |
| Q4 25 | 39.8% | 20.1% | ||
| Q3 25 | 42.0% | 22.3% | ||
| Q2 25 | 41.4% | 20.4% | ||
| Q1 25 | 39.2% | 22.6% | ||
| Q4 24 | 39.1% | 22.0% | ||
| Q3 24 | 42.4% | 23.9% | ||
| Q2 24 | 40.9% | 22.5% | ||
| Q1 24 | 38.1% | 24.9% |
| Q4 25 | 23.7% | 7.6% | ||
| Q3 25 | 27.6% | 16.9% | ||
| Q2 25 | 29.0% | 11.2% | ||
| Q1 25 | 25.7% | 11.6% | ||
| Q4 24 | 22.3% | 8.7% | ||
| Q3 24 | 28.8% | 19.7% | ||
| Q2 24 | 26.0% | 16.2% | ||
| Q1 24 | 26.4% | 17.6% |
| Q4 25 | 16.9% | 5.6% | ||
| Q3 25 | 20.3% | 13.0% | ||
| Q2 25 | 20.7% | 8.4% | ||
| Q1 25 | 18.1% | 9.0% | ||
| Q4 24 | 16.9% | 6.6% | ||
| Q3 24 | 19.9% | 14.8% | ||
| Q2 24 | 18.0% | 12.2% | ||
| Q1 24 | 18.4% | 13.5% |
| Q4 25 | $1.51 | $0.30 | ||
| Q3 25 | $1.98 | $1.70 | ||
| Q2 25 | $2.01 | $0.65 | ||
| Q1 25 | $1.58 | $0.62 | ||
| Q4 24 | $1.41 | $0.32 | ||
| Q3 24 | $1.75 | $1.59 | ||
| Q2 24 | $1.50 | $0.76 | ||
| Q1 24 | $1.36 | $0.89 |
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 | $211.7M |
| Total DebtLower is stronger | — | $793.2M |
| Stockholders' EquityBook value | $900.7M | $1.8B |
| Total Assets | $1.9B | $3.2B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.7M | $211.7M | ||
| Q3 25 | $90.1M | $379.2M | ||
| Q2 25 | $81.1M | $189.2M | ||
| Q1 25 | $82.8M | $174.3M | ||
| Q4 24 | $79.3M | $132.0M | ||
| Q3 24 | $73.7M | $481.2M | ||
| Q2 24 | $73.6M | $359.2M | ||
| Q1 24 | $69.6M | $416.2M |
| Q4 25 | — | $793.2M | ||
| Q3 25 | — | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | — | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M | ||
| Q1 24 | — | $705.7M |
| Q4 25 | $900.7M | $1.8B | ||
| Q3 25 | $889.2M | $1.8B | ||
| Q2 25 | $837.8M | $1.7B | ||
| Q1 25 | $793.4M | $1.6B | ||
| Q4 24 | $757.1M | $1.6B | ||
| Q3 24 | $717.0M | $1.6B | ||
| Q2 24 | $669.0M | $1.5B | ||
| Q1 24 | $626.8M | $1.5B |
| Q4 25 | $1.9B | $3.2B | ||
| Q3 25 | $1.9B | $3.1B | ||
| Q2 25 | $1.9B | $3.1B | ||
| Q1 25 | $1.9B | $3.0B | ||
| Q4 24 | $1.8B | $3.0B | ||
| Q3 24 | $1.8B | $2.8B | ||
| Q2 24 | $1.8B | $2.7B | ||
| Q1 24 | $1.7B | $2.6B |
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.48× |
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 | $-157.0M |
| Free Cash FlowOCF − Capex | $62.2M | $-157.1M |
| FCF MarginFCF / Revenue | 16.0% | -57.5% |
| Capex IntensityCapex / Revenue | 12.3% | 0.0% |
| Cash ConversionOCF / Net Profit | 1.68× | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | $246.1M | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.0M | $-157.0M | ||
| Q3 25 | $122.9M | $256.3M | ||
| Q2 25 | $81.6M | $15.8M | ||
| Q1 25 | $41.0M | $-19.8M | ||
| Q4 24 | $86.6M | $-450.0M | ||
| Q3 24 | $96.5M | $119.2M | ||
| Q2 24 | $57.3M | $-61.7M | ||
| Q1 24 | $26.4M | $-59.2M |
| Q4 25 | $62.2M | $-157.1M | ||
| Q3 25 | $100.3M | $255.6M | ||
| Q2 25 | $61.7M | $15.0M | ||
| Q1 25 | $21.9M | $-20.5M | ||
| Q4 24 | $57.8M | — | ||
| Q3 24 | $77.1M | $118.4M | ||
| Q2 24 | $37.4M | $-62.3M | ||
| Q1 24 | $11.7M | $-59.8M |
| Q4 25 | 16.0% | -57.5% | ||
| Q3 25 | 23.6% | 38.1% | ||
| Q2 25 | 14.5% | 3.8% | ||
| Q1 25 | 5.7% | -5.8% | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 19.9% | 21.5% | ||
| Q2 24 | 10.2% | -19.6% | ||
| Q1 24 | 3.6% | -17.9% |
| Q4 25 | 12.3% | 0.0% | ||
| Q3 25 | 5.3% | 0.1% | ||
| Q2 25 | 4.7% | 0.2% | ||
| Q1 25 | 5.0% | 0.2% | ||
| Q4 24 | 7.8% | 0.0% | ||
| Q3 24 | 5.0% | 0.1% | ||
| Q2 24 | 5.5% | 0.2% | ||
| Q1 24 | 4.5% | 0.2% |
| Q4 25 | 1.68× | -10.19× | ||
| Q3 25 | 1.42× | 2.95× | ||
| Q2 25 | 0.93× | 0.48× | ||
| Q1 25 | 0.59× | -0.63× | ||
| Q4 24 | 1.39× | -27.27× | ||
| Q3 24 | 1.25× | 1.46× | ||
| Q2 24 | 0.87× | -1.59× | ||
| Q1 24 | 0.44× | -1.32× |
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% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
