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Side-by-side financial comparison of ARMSTRONG WORLD INDUSTRIES INC (AWI) and Installed Building Products, Inc. (IBP). Click either name above to swap in a different company.
Installed Building Products, Inc. is the larger business by last-quarter revenue ($747.5M vs $388.3M, roughly 1.9× ARMSTRONG WORLD INDUSTRIES INC). ARMSTRONG WORLD INDUSTRIES INC runs the higher net margin — 16.9% vs 10.2%, a 6.6% gap on every dollar of revenue. On growth, ARMSTRONG WORLD INDUSTRIES INC posted the faster year-over-year revenue change (5.6% vs -0.4%). ARMSTRONG WORLD INDUSTRIES INC produced more free cash flow last quarter ($62.2M vs $49.3M). Over the past eight quarters, ARMSTRONG WORLD INDUSTRIES INC's revenue compounded faster (9.1% CAGR vs 3.9%).
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.
Installed Building Products, Inc. is a leading US-based provider of professional installation services for building products. Core offerings include insulation, gutters, garage doors, fire protection systems and window treatments, serving residential new construction, repair & remodel, and commercial construction segments across most US regions.
AWI vs IBP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $388.3M | $747.5M |
| Net Profit | $65.5M | $76.6M |
| Gross Margin | 39.8% | 35.0% |
| Operating Margin | 23.7% | 14.6% |
| Net Margin | 16.9% | 10.2% |
| Revenue YoY | 5.6% | -0.4% |
| Net Profit YoY | 5.3% | 14.5% |
| EPS (diluted) | $1.51 | $2.81 |
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 | $747.5M | ||
| Q3 25 | $425.2M | $778.2M | ||
| Q2 25 | $424.6M | $760.3M | ||
| Q1 25 | $382.7M | $684.8M | ||
| Q4 24 | $367.7M | $750.2M | ||
| Q3 24 | $386.6M | $760.6M | ||
| Q2 24 | $365.1M | $737.6M | ||
| Q1 24 | $326.3M | $692.9M |
| Q4 25 | $65.5M | $76.6M | ||
| Q3 25 | $86.3M | $74.4M | ||
| Q2 25 | $87.8M | $69.0M | ||
| Q1 25 | $69.1M | $45.4M | ||
| Q4 24 | $62.2M | $66.9M | ||
| Q3 24 | $76.9M | $68.6M | ||
| Q2 24 | $65.9M | $65.2M | ||
| Q1 24 | $59.9M | $55.9M |
| Q4 25 | 39.8% | 35.0% | ||
| Q3 25 | 42.0% | 34.0% | ||
| Q2 25 | 41.4% | 34.2% | ||
| Q1 25 | 39.2% | 32.7% | ||
| Q4 24 | 39.1% | 33.6% | ||
| Q3 24 | 42.4% | 33.8% | ||
| Q2 24 | 40.9% | 34.1% | ||
| Q1 24 | 38.1% | 33.8% |
| Q4 25 | 23.7% | 14.6% | ||
| Q3 25 | 27.6% | 13.7% | ||
| Q2 25 | 29.0% | 13.3% | ||
| Q1 25 | 25.7% | 10.2% | ||
| Q4 24 | 22.3% | 13.1% | ||
| Q3 24 | 28.8% | 13.3% | ||
| Q2 24 | 26.0% | 12.9% | ||
| Q1 24 | 26.4% | 12.7% |
| Q4 25 | 16.9% | 10.2% | ||
| Q3 25 | 20.3% | 9.6% | ||
| Q2 25 | 20.7% | 9.1% | ||
| Q1 25 | 18.1% | 6.6% | ||
| Q4 24 | 16.9% | 8.9% | ||
| Q3 24 | 19.9% | 9.0% | ||
| Q2 24 | 18.0% | 8.8% | ||
| Q1 24 | 18.4% | 8.1% |
| Q4 25 | $1.51 | $2.81 | ||
| Q3 25 | $1.98 | $2.74 | ||
| Q2 25 | $2.01 | $2.52 | ||
| Q1 25 | $1.58 | $1.64 | ||
| Q4 24 | $1.41 | $2.39 | ||
| Q3 24 | $1.75 | $2.44 | ||
| Q2 24 | $1.50 | $2.30 | ||
| Q1 24 | $1.36 | $1.97 |
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 | $321.9M |
| Total DebtLower is stronger | — | $886.6M |
| Stockholders' EquityBook value | $900.7M | $709.9M |
| Total Assets | $1.9B | $2.1B |
| Debt / EquityLower = less leverage | — | 1.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.7M | $321.9M | ||
| Q3 25 | $90.1M | $333.3M | ||
| Q2 25 | $81.1M | $305.2M | ||
| Q1 25 | $82.8M | $298.7M | ||
| Q4 24 | $79.3M | $327.6M | ||
| Q3 24 | $73.7M | $406.2M | ||
| Q2 24 | $73.6M | $380.3M | ||
| Q1 24 | $69.6M | $399.9M |
| Q4 25 | — | $886.6M | ||
| Q3 25 | — | $880.8M | ||
| Q2 25 | — | $876.1M | ||
| Q1 25 | — | $872.4M | ||
| Q4 24 | — | $874.8M | ||
| Q3 24 | — | $872.3M | ||
| Q2 24 | — | $875.8M | ||
| Q1 24 | — | $875.0M |
| Q4 25 | $900.7M | $709.9M | ||
| Q3 25 | $889.2M | $678.6M | ||
| Q2 25 | $837.8M | $664.5M | ||
| Q1 25 | $793.4M | $660.9M | ||
| Q4 24 | $757.1M | $705.3M | ||
| Q3 24 | $717.0M | $716.4M | ||
| Q2 24 | $669.0M | $685.3M | ||
| Q1 24 | $626.8M | $679.2M |
| Q4 25 | $1.9B | $2.1B | ||
| Q3 25 | $1.9B | $2.1B | ||
| Q2 25 | $1.9B | $2.0B | ||
| Q1 25 | $1.9B | $2.0B | ||
| Q4 24 | $1.8B | $2.1B | ||
| Q3 24 | $1.8B | $2.1B | ||
| Q2 24 | $1.8B | $2.0B | ||
| Q1 24 | $1.7B | $2.0B |
| Q4 25 | — | 1.25× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.24× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.29× |
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 | $64.9M |
| Free Cash FlowOCF − Capex | $62.2M | $49.3M |
| FCF MarginFCF / Revenue | 16.0% | 6.6% |
| Capex IntensityCapex / Revenue | 12.3% | 2.1% |
| Cash ConversionOCF / Net Profit | 1.68× | 0.85× |
| TTM Free Cash FlowTrailing 4 quarters | $246.1M | $300.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.0M | $64.9M | ||
| Q3 25 | $122.9M | $124.0M | ||
| Q2 25 | $81.6M | $90.4M | ||
| Q1 25 | $41.0M | $92.1M | ||
| Q4 24 | $86.6M | $74.8M | ||
| Q3 24 | $96.5M | $101.4M | ||
| Q2 24 | $57.3M | $79.0M | ||
| Q1 24 | $26.4M | $84.8M |
| Q4 25 | $62.2M | $49.3M | ||
| Q3 25 | $100.3M | $104.8M | ||
| Q2 25 | $61.7M | $74.8M | ||
| Q1 25 | $21.9M | $71.9M | ||
| Q4 24 | $57.8M | $52.9M | ||
| Q3 24 | $77.1M | $77.3M | ||
| Q2 24 | $37.4M | $58.2M | ||
| Q1 24 | $11.7M | $63.0M |
| Q4 25 | 16.0% | 6.6% | ||
| Q3 25 | 23.6% | 13.5% | ||
| Q2 25 | 14.5% | 9.8% | ||
| Q1 25 | 5.7% | 10.5% | ||
| Q4 24 | 15.7% | 7.1% | ||
| Q3 24 | 19.9% | 10.2% | ||
| Q2 24 | 10.2% | 7.9% | ||
| Q1 24 | 3.6% | 9.1% |
| Q4 25 | 12.3% | 2.1% | ||
| Q3 25 | 5.3% | 2.5% | ||
| Q2 25 | 4.7% | 2.1% | ||
| Q1 25 | 5.0% | 2.9% | ||
| Q4 24 | 7.8% | 2.9% | ||
| Q3 24 | 5.0% | 3.2% | ||
| Q2 24 | 5.5% | 2.8% | ||
| Q1 24 | 4.5% | 3.1% |
| Q4 25 | 1.68× | 0.85× | ||
| Q3 25 | 1.42× | 1.67× | ||
| Q2 25 | 0.93× | 1.31× | ||
| Q1 25 | 0.59× | 2.03× | ||
| Q4 24 | 1.39× | 1.12× | ||
| Q3 24 | 1.25× | 1.48× | ||
| Q2 24 | 0.87× | 1.21× | ||
| Q1 24 | 0.44× | 1.52× |
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% |
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
