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Side-by-side financial comparison of ARMSTRONG WORLD INDUSTRIES INC (AWI) and IDEX Corporation (IEX). Click either name above to swap in a different company.
IDEX Corporation is the larger business by last-quarter revenue ($398.4M vs $388.3M, roughly 1.0× ARMSTRONG WORLD INDUSTRIES INC). IDEX Corporation runs the higher net margin — 30.1% vs 16.9%, a 13.3% gap on every dollar of revenue. On growth, IDEX Corporation posted the faster year-over-year revenue change (16.7% vs 5.6%). IDEX Corporation produced more free cash flow last quarter ($86.0M vs $62.2M). Over the past eight quarters, ARMSTRONG WORLD INDUSTRIES INC's revenue compounded faster (9.1% CAGR vs -29.4%).
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.
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
AWI vs IEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $388.3M | $398.4M |
| Net Profit | $65.5M | $120.0M |
| Gross Margin | 39.8% | 99.9% |
| Operating Margin | 23.7% | 43.3% |
| Net Margin | 16.9% | 30.1% |
| Revenue YoY | 5.6% | 16.7% |
| Net Profit YoY | 5.3% | 25.7% |
| EPS (diluted) | $1.51 | $1.61 |
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.
| Q2 26 | — | $398.4M | ||
| Q1 26 | — | $407.7M | ||
| Q4 25 | $388.3M | $899.1M | ||
| Q3 25 | $425.2M | $878.7M | ||
| Q2 25 | $424.6M | $865.4M | ||
| Q1 25 | $382.7M | $814.3M | ||
| Q4 24 | $367.7M | $862.9M | ||
| Q3 24 | $386.6M | $798.2M |
| Q2 26 | — | $120.0M | ||
| Q1 26 | — | $128.3M | ||
| Q4 25 | $65.5M | $128.3M | ||
| Q3 25 | $86.3M | $127.8M | ||
| Q2 25 | $87.8M | $131.6M | ||
| Q1 25 | $69.1M | $95.5M | ||
| Q4 24 | $62.2M | $123.2M | ||
| Q3 24 | $76.9M | $119.1M |
| Q2 26 | — | 99.9% | ||
| Q1 26 | — | 94.9% | ||
| Q4 25 | 39.8% | 43.1% | ||
| Q3 25 | 42.0% | 44.5% | ||
| Q2 25 | 41.4% | 45.3% | ||
| Q1 25 | 39.2% | 45.3% | ||
| Q4 24 | 39.1% | 42.5% | ||
| Q3 24 | 42.4% | 44.3% |
| Q2 26 | — | 43.3% | ||
| Q1 26 | — | 45.0% | ||
| Q4 25 | 23.7% | 20.4% | ||
| Q3 25 | 27.6% | 21.1% | ||
| Q2 25 | 29.0% | 21.7% | ||
| Q1 25 | 25.7% | 17.4% | ||
| Q4 24 | 22.3% | 19.2% | ||
| Q3 24 | 28.8% | 21.0% |
| Q2 26 | — | 30.1% | ||
| Q1 26 | — | 31.5% | ||
| Q4 25 | 16.9% | 14.3% | ||
| Q3 25 | 20.3% | 14.5% | ||
| Q2 25 | 20.7% | 15.2% | ||
| Q1 25 | 18.1% | 11.7% | ||
| Q4 24 | 16.9% | 14.3% | ||
| Q3 24 | 19.9% | 14.9% |
| Q2 26 | — | $1.61 | ||
| Q1 26 | — | $1.71 | ||
| Q4 25 | $1.51 | $1.71 | ||
| Q3 25 | $1.98 | $1.70 | ||
| Q2 25 | $2.01 | $1.74 | ||
| Q1 25 | $1.58 | $1.26 | ||
| Q4 24 | $1.41 | $1.61 | ||
| Q3 24 | $1.75 | $1.57 |
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 | $586.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $900.7M | $4.0B |
| Total Assets | $1.9B | $6.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | $586.2M | ||
| Q1 26 | — | $580.0M | ||
| Q4 25 | $112.7M | $580.0M | ||
| Q3 25 | $90.1M | $593.8M | ||
| Q2 25 | $81.1M | $568.2M | ||
| Q1 25 | $82.8M | $594.1M | ||
| Q4 24 | $79.3M | $620.8M | ||
| Q3 24 | $73.7M | $633.2M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.1B |
| Q2 26 | — | $4.0B | ||
| Q1 26 | — | $4.0B | ||
| Q4 25 | $900.7M | $4.0B | ||
| Q3 25 | $889.2M | $4.0B | ||
| Q2 25 | $837.8M | $4.0B | ||
| Q1 25 | $793.4M | $3.9B | ||
| Q4 24 | $757.1M | $3.8B | ||
| Q3 24 | $717.0M | $3.8B |
| Q2 26 | — | $6.9B | ||
| Q1 26 | — | $6.9B | ||
| Q4 25 | $1.9B | $6.9B | ||
| Q3 25 | $1.9B | $7.0B | ||
| Q2 25 | $1.9B | $6.9B | ||
| Q1 25 | $1.9B | $6.8B | ||
| Q4 24 | $1.8B | $6.7B | ||
| Q3 24 | $1.8B | $7.0B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.46× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.55× |
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 | $86.0M |
| FCF MarginFCF / Revenue | 16.0% | 21.6% |
| Capex IntensityCapex / Revenue | 12.3% | 4.4% |
| Cash ConversionOCF / Net Profit | 1.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | $246.1M | $654.3M |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $110.0M | $209.5M | ||
| Q3 25 | $122.9M | $203.5M | ||
| Q2 25 | $81.6M | $161.7M | ||
| Q1 25 | $41.0M | $105.7M | ||
| Q4 24 | $86.6M | $172.6M | ||
| Q3 24 | $96.5M | $205.3M |
| Q2 26 | — | $86.0M | ||
| Q1 26 | — | $189.8M | ||
| Q4 25 | $62.2M | $189.8M | ||
| Q3 25 | $100.3M | $188.7M | ||
| Q2 25 | $61.7M | $146.9M | ||
| Q1 25 | $21.9M | $91.4M | ||
| Q4 24 | $57.8M | $157.1M | ||
| Q3 24 | $77.1M | $191.6M |
| Q2 26 | — | 21.6% | ||
| Q1 26 | — | 46.6% | ||
| Q4 25 | 16.0% | 21.1% | ||
| Q3 25 | 23.6% | 21.5% | ||
| Q2 25 | 14.5% | 17.0% | ||
| Q1 25 | 5.7% | 11.2% | ||
| Q4 24 | 15.7% | 18.2% | ||
| Q3 24 | 19.9% | 24.0% |
| Q2 26 | — | 4.4% | ||
| Q1 26 | — | 15.6% | ||
| Q4 25 | 12.3% | 2.2% | ||
| Q3 25 | 5.3% | 1.7% | ||
| Q2 25 | 4.7% | 1.7% | ||
| Q1 25 | 5.0% | 1.8% | ||
| Q4 24 | 7.8% | 1.8% | ||
| Q3 24 | 5.0% | 1.7% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | 1.63× | ||
| Q3 25 | 1.42× | 1.59× | ||
| Q2 25 | 0.93× | 1.23× | ||
| Q1 25 | 0.59× | 1.11× | ||
| Q4 24 | 1.39× | 1.40× | ||
| Q3 24 | 1.25× | 1.72× |
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% |
IEX
Segment breakdown not available.
