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Side-by-side financial comparison of ARMSTRONG WORLD INDUSTRIES INC (AWI) and H2O AMERICA (HTO). 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 $199.4M, roughly 1.9× H2O AMERICA). ARMSTRONG WORLD INDUSTRIES INC runs the higher net margin — 16.9% vs 8.1%, a 8.7% gap on every dollar of revenue. On growth, ARMSTRONG WORLD INDUSTRIES INC posted the faster year-over-year revenue change (5.6% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 9.1%).
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.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
AWI vs HTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $388.3M | $199.4M |
| Net Profit | $65.5M | $16.2M |
| Gross Margin | 39.8% | — |
| Operating Margin | 23.7% | 16.6% |
| Net Margin | 16.9% | 8.1% |
| Revenue YoY | 5.6% | 1.5% |
| Net Profit YoY | 5.3% | -29.2% |
| EPS (diluted) | $1.51 | $0.45 |
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 | $199.4M | ||
| Q3 25 | $425.2M | $243.5M | ||
| Q2 25 | $424.6M | $197.8M | ||
| Q1 25 | $382.7M | $164.9M | ||
| Q4 24 | $367.7M | $196.5M | ||
| Q3 24 | $386.6M | $216.7M | ||
| Q2 24 | $365.1M | $173.1M | ||
| Q1 24 | $326.3M | $150.0M |
| Q4 25 | $65.5M | $16.2M | ||
| Q3 25 | $86.3M | $45.1M | ||
| Q2 25 | $87.8M | $24.7M | ||
| Q1 25 | $69.1M | $16.6M | ||
| Q4 24 | $62.2M | $22.9M | ||
| Q3 24 | $76.9M | $38.7M | ||
| Q2 24 | $65.9M | $20.7M | ||
| Q1 24 | $59.9M | $11.7M |
| 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 24 | 38.1% | — |
| Q4 25 | 23.7% | 16.6% | ||
| Q3 25 | 27.6% | 26.5% | ||
| Q2 25 | 29.0% | 22.2% | ||
| Q1 25 | 25.7% | 21.8% | ||
| Q4 24 | 22.3% | 22.2% | ||
| Q3 24 | 28.8% | 26.9% | ||
| Q2 24 | 26.0% | 23.4% | ||
| Q1 24 | 26.4% | 18.6% |
| Q4 25 | 16.9% | 8.1% | ||
| Q3 25 | 20.3% | 18.5% | ||
| Q2 25 | 20.7% | 12.5% | ||
| Q1 25 | 18.1% | 10.0% | ||
| Q4 24 | 16.9% | 11.7% | ||
| Q3 24 | 19.9% | 17.8% | ||
| Q2 24 | 18.0% | 12.0% | ||
| Q1 24 | 18.4% | 7.8% |
| Q4 25 | $1.51 | $0.45 | ||
| Q3 25 | $1.98 | $1.27 | ||
| Q2 25 | $2.01 | $0.71 | ||
| Q1 25 | $1.58 | $0.49 | ||
| Q4 24 | $1.41 | $0.70 | ||
| Q3 24 | $1.75 | $1.17 | ||
| Q2 24 | $1.50 | $0.64 | ||
| Q1 24 | $1.36 | $0.36 |
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 | $20.7M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $900.7M | $1.5B |
| Total Assets | $1.9B | $5.1B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.7M | $20.7M | ||
| Q3 25 | $90.1M | $11.3M | ||
| Q2 25 | $81.1M | $19.8M | ||
| Q1 25 | $82.8M | $23.7M | ||
| Q4 24 | $79.3M | $11.1M | ||
| Q3 24 | $73.7M | $4.0M | ||
| Q2 24 | $73.6M | $22.8M | ||
| Q1 24 | $69.6M | $4.5M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $900.7M | $1.5B | ||
| Q3 25 | $889.2M | $1.5B | ||
| Q2 25 | $837.8M | $1.5B | ||
| Q1 25 | $793.4M | $1.4B | ||
| Q4 24 | $757.1M | $1.4B | ||
| Q3 24 | $717.0M | $1.3B | ||
| Q2 24 | $669.0M | $1.3B | ||
| Q1 24 | $626.8M | $1.2B |
| Q4 25 | $1.9B | $5.1B | ||
| Q3 25 | $1.9B | $5.0B | ||
| Q2 25 | $1.9B | $4.8B | ||
| Q1 25 | $1.9B | $4.7B | ||
| Q4 24 | $1.8B | $4.7B | ||
| Q3 24 | $1.8B | $4.6B | ||
| Q2 24 | $1.8B | $4.4B | ||
| Q1 24 | $1.7B | $4.4B |
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $63.5M |
| Free Cash FlowOCF − Capex | $62.2M | — |
| FCF MarginFCF / Revenue | 16.0% | — |
| Capex IntensityCapex / Revenue | 12.3% | — |
| Cash ConversionOCF / Net Profit | 1.68× | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | $246.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.0M | $63.5M | ||
| Q3 25 | $122.9M | $77.3M | ||
| Q2 25 | $81.6M | $60.8M | ||
| Q1 25 | $41.0M | $43.2M | ||
| Q4 24 | $86.6M | $41.5M | ||
| Q3 24 | $96.5M | $53.5M | ||
| Q2 24 | $57.3M | $49.3M | ||
| Q1 24 | $26.4M | $51.2M |
| Q4 25 | $62.2M | — | ||
| Q3 25 | $100.3M | — | ||
| Q2 25 | $61.7M | — | ||
| Q1 25 | $21.9M | — | ||
| Q4 24 | $57.8M | — | ||
| Q3 24 | $77.1M | — | ||
| Q2 24 | $37.4M | — | ||
| Q1 24 | $11.7M | — |
| Q4 25 | 16.0% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 14.5% | — | ||
| Q1 25 | 5.7% | — | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 10.2% | — | ||
| Q1 24 | 3.6% | — |
| Q4 25 | 12.3% | — | ||
| Q3 25 | 5.3% | — | ||
| Q2 25 | 4.7% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | 5.5% | — | ||
| Q1 24 | 4.5% | — |
| Q4 25 | 1.68× | 3.92× | ||
| Q3 25 | 1.42× | 1.71× | ||
| Q2 25 | 0.93× | 2.47× | ||
| Q1 25 | 0.59× | 2.61× | ||
| Q4 24 | 1.39× | 1.81× | ||
| Q3 24 | 1.25× | 1.39× | ||
| Q2 24 | 0.87× | 2.38× | ||
| Q1 24 | 0.44× | 4.38× |
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% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
