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Side-by-side financial comparison of ARMSTRONG WORLD INDUSTRIES INC (AWI) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $388.3M, roughly 1.1× ARMSTRONG WORLD INDUSTRIES INC). ARMSTRONG WORLD INDUSTRIES INC runs the higher net margin — 16.9% vs 7.6%, a 9.2% gap on every dollar of revenue. On growth, ARMSTRONG WORLD INDUSTRIES INC posted the faster year-over-year revenue change (5.6% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $62.2M). Over the past eight quarters, PEGASYSTEMS INC's revenue compounded faster (10.7% 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.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
AWI vs PEGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $388.3M | $430.0M |
| Net Profit | $65.5M | $32.8M |
| Gross Margin | 39.8% | 75.2% |
| Operating Margin | 23.7% | 8.6% |
| Net Margin | 16.9% | 7.6% |
| Revenue YoY | 5.6% | -9.6% |
| Net Profit YoY | 5.3% | — |
| EPS (diluted) | $1.51 | $0.18 |
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 | — | $430.0M | ||
| Q4 25 | $388.3M | $504.3M | ||
| Q3 25 | $425.2M | $381.4M | ||
| Q2 25 | $424.6M | $384.5M | ||
| Q1 25 | $382.7M | $475.6M | ||
| Q4 24 | $367.7M | $490.8M | ||
| Q3 24 | $386.6M | $325.1M | ||
| Q2 24 | $365.1M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $65.5M | $234.6M | ||
| Q3 25 | $86.3M | $43.4M | ||
| Q2 25 | $87.8M | $30.1M | ||
| Q1 25 | $69.1M | $85.4M | ||
| Q4 24 | $62.2M | $119.1M | ||
| Q3 24 | $76.9M | $-14.4M | ||
| Q2 24 | $65.9M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | 39.8% | 79.5% | ||
| Q3 25 | 42.0% | 72.2% | ||
| Q2 25 | 41.4% | 71.5% | ||
| Q1 25 | 39.2% | 78.5% | ||
| Q4 24 | 39.1% | 79.1% | ||
| Q3 24 | 42.4% | 70.2% | ||
| Q2 24 | 40.9% | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 23.7% | 20.7% | ||
| Q3 25 | 27.6% | 3.8% | ||
| Q2 25 | 29.0% | 4.5% | ||
| Q1 25 | 25.7% | 26.7% | ||
| Q4 24 | 22.3% | 29.1% | ||
| Q3 24 | 28.8% | -3.6% | ||
| Q2 24 | 26.0% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 16.9% | 46.5% | ||
| Q3 25 | 20.3% | 11.4% | ||
| Q2 25 | 20.7% | 7.8% | ||
| Q1 25 | 18.1% | 18.0% | ||
| Q4 24 | 16.9% | 24.3% | ||
| Q3 24 | 19.9% | -4.4% | ||
| Q2 24 | 18.0% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $1.51 | $0.81 | ||
| Q3 25 | $1.98 | $0.24 | ||
| Q2 25 | $2.01 | $0.17 | ||
| Q1 25 | $1.58 | $0.91 | ||
| Q4 24 | $1.41 | $1.35 | ||
| Q3 24 | $1.75 | $-0.17 | ||
| Q2 24 | $1.50 | $0.07 |
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 | $270.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $900.7M | $705.9M |
| Total Assets | $1.9B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $112.7M | $425.8M | ||
| Q3 25 | $90.1M | $351.4M | ||
| Q2 25 | $81.1M | $411.6M | ||
| Q1 25 | $82.8M | $371.7M | ||
| Q4 24 | $79.3M | $740.0M | ||
| Q3 24 | $73.7M | $703.0M | ||
| Q2 24 | $73.6M | $665.1M |
| Q1 26 | — | $705.9M | ||
| Q4 25 | $900.7M | $787.4M | ||
| Q3 25 | $889.2M | $596.8M | ||
| Q2 25 | $837.8M | $624.5M | ||
| Q1 25 | $793.4M | $611.3M | ||
| Q4 24 | $757.1M | $585.5M | ||
| Q3 24 | $717.0M | $473.0M | ||
| Q2 24 | $669.0M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.9B | $1.6B | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $1.9B | $1.3B | ||
| Q4 24 | $1.8B | $1.8B | ||
| Q3 24 | $1.8B | $1.6B | ||
| Q2 24 | $1.8B | $1.5B |
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 | $206.5M |
| FCF MarginFCF / Revenue | 16.0% | 48.0% |
| Capex IntensityCapex / Revenue | 12.3% | — |
| Cash ConversionOCF / Net Profit | 1.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | $246.1M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $110.0M | $158.4M | ||
| Q3 25 | $122.9M | $56.3M | ||
| Q2 25 | $81.6M | $86.3M | ||
| Q1 25 | $41.0M | $204.2M | ||
| Q4 24 | $86.6M | $95.2M | ||
| Q3 24 | $96.5M | $30.5M | ||
| Q2 24 | $57.3M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $62.2M | $152.4M | ||
| Q3 25 | $100.3M | $51.8M | ||
| Q2 25 | $61.7M | $84.1M | ||
| Q1 25 | $21.9M | $202.3M | ||
| Q4 24 | $57.8M | $92.4M | ||
| Q3 24 | $77.1M | $27.4M | ||
| Q2 24 | $37.4M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | 16.0% | 30.2% | ||
| Q3 25 | 23.6% | 13.6% | ||
| Q2 25 | 14.5% | 21.9% | ||
| Q1 25 | 5.7% | 42.5% | ||
| Q4 24 | 15.7% | 18.8% | ||
| Q3 24 | 19.9% | 8.4% | ||
| Q2 24 | 10.2% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 12.3% | 1.2% | ||
| Q3 25 | 5.3% | 1.2% | ||
| Q2 25 | 4.7% | 0.6% | ||
| Q1 25 | 5.0% | 0.4% | ||
| Q4 24 | 7.8% | 0.6% | ||
| Q3 24 | 5.0% | 0.9% | ||
| Q2 24 | 5.5% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | 0.68× | ||
| Q3 25 | 1.42× | 1.30× | ||
| Q2 25 | 0.93× | 2.87× | ||
| Q1 25 | 0.59× | 2.39× | ||
| Q4 24 | 1.39× | 0.80× | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 0.87× | 6.06× |
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% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
