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Side-by-side financial comparison of ARMSTRONG WORLD INDUSTRIES INC (AWI) and Perella Weinberg Partners (PWP). 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 $219.2M, roughly 1.8× Perella Weinberg Partners). ARMSTRONG WORLD INDUSTRIES INC runs the higher net margin — 16.9% vs 6.3%, a 10.6% gap on every dollar of revenue. On growth, ARMSTRONG WORLD INDUSTRIES INC posted the faster year-over-year revenue change (5.6% vs -2.9%). ARMSTRONG WORLD INDUSTRIES INC produced more free cash flow last quarter ($62.2M vs $30.5M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% 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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
AWI vs PWP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $388.3M | $219.2M |
| Net Profit | $65.5M | $13.8M |
| Gross Margin | 39.8% | — |
| Operating Margin | 23.7% | 8.5% |
| Net Margin | 16.9% | 6.3% |
| Revenue YoY | 5.6% | -2.9% |
| Net Profit YoY | 5.3% | — |
| EPS (diluted) | $1.51 | $0.11 |
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 | $219.2M | ||
| Q3 25 | $425.2M | $164.6M | ||
| Q2 25 | $424.6M | $155.3M | ||
| Q1 25 | $382.7M | $211.8M | ||
| Q4 24 | $367.7M | $225.7M | ||
| Q3 24 | $386.6M | $278.2M | ||
| Q2 24 | $365.1M | $272.0M | ||
| Q1 24 | $326.3M | $102.1M |
| Q4 25 | $65.5M | $13.8M | ||
| Q3 25 | $86.3M | $6.0M | ||
| Q2 25 | $87.8M | $2.7M | ||
| Q1 25 | $69.1M | $17.3M | ||
| Q4 24 | $62.2M | — | ||
| Q3 24 | $76.9M | $16.4M | ||
| Q2 24 | $65.9M | $-66.0M | ||
| Q1 24 | $59.9M | $-35.8M |
| 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% | 8.5% | ||
| Q3 25 | 27.6% | 5.4% | ||
| Q2 25 | 29.0% | 5.8% | ||
| Q1 25 | 25.7% | 5.5% | ||
| Q4 24 | 22.3% | — | ||
| Q3 24 | 28.8% | 12.9% | ||
| Q2 24 | 26.0% | -30.2% | ||
| Q1 24 | 26.4% | -52.4% |
| Q4 25 | 16.9% | 6.3% | ||
| Q3 25 | 20.3% | 3.6% | ||
| Q2 25 | 20.7% | 1.8% | ||
| Q1 25 | 18.1% | 8.2% | ||
| Q4 24 | 16.9% | — | ||
| Q3 24 | 19.9% | 5.9% | ||
| Q2 24 | 18.0% | -24.3% | ||
| Q1 24 | 18.4% | -35.1% |
| Q4 25 | $1.51 | $0.11 | ||
| Q3 25 | $1.98 | $0.08 | ||
| Q2 25 | $2.01 | $0.04 | ||
| Q1 25 | $1.58 | $0.24 | ||
| Q4 24 | $1.41 | — | ||
| Q3 24 | $1.75 | $0.24 | ||
| Q2 24 | $1.50 | $-1.21 | ||
| Q1 24 | $1.36 | $-0.91 |
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 | $255.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $900.7M | $-127.4M |
| Total Assets | $1.9B | $797.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.7M | $255.9M | ||
| Q3 25 | $90.1M | $185.5M | ||
| Q2 25 | $81.1M | $145.0M | ||
| Q1 25 | $82.8M | $111.2M | ||
| Q4 24 | $79.3M | $407.4M | ||
| Q3 24 | $73.7M | $335.1M | ||
| Q2 24 | $73.6M | $185.3M | ||
| Q1 24 | $69.6M | $156.7M |
| Q4 25 | $900.7M | $-127.4M | ||
| Q3 25 | $889.2M | $-302.4M | ||
| Q2 25 | $837.8M | $-318.4M | ||
| Q1 25 | $793.4M | $-323.1M | ||
| Q4 24 | $757.1M | $-421.4M | ||
| Q3 24 | $717.0M | $-360.8M | ||
| Q2 24 | $669.0M | $-283.0M | ||
| Q1 24 | $626.8M | $161.9M |
| Q4 25 | $1.9B | $797.6M | ||
| Q3 25 | $1.9B | $650.2M | ||
| Q2 25 | $1.9B | $606.7M | ||
| Q1 25 | $1.9B | $570.5M | ||
| Q4 24 | $1.8B | $876.8M | ||
| Q3 24 | $1.8B | $810.9M | ||
| Q2 24 | $1.8B | $645.5M | ||
| Q1 24 | $1.7B | $583.6M |
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 | $34.8M |
| Free Cash FlowOCF − Capex | $62.2M | $30.5M |
| FCF MarginFCF / Revenue | 16.0% | 13.9% |
| Capex IntensityCapex / Revenue | 12.3% | 2.0% |
| Cash ConversionOCF / Net Profit | 1.68× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $246.1M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.0M | $34.8M | ||
| Q3 25 | $122.9M | $59.2M | ||
| Q2 25 | $81.6M | $56.1M | ||
| Q1 25 | $41.0M | $-176.5M | ||
| Q4 24 | $86.6M | $223.4M | ||
| Q3 24 | $96.5M | $200.3M | ||
| Q2 24 | $57.3M | $90.0M | ||
| Q1 24 | $26.4M | $-206.3M |
| Q4 25 | $62.2M | $30.5M | ||
| Q3 25 | $100.3M | $57.6M | ||
| Q2 25 | $61.7M | $55.3M | ||
| Q1 25 | $21.9M | $-177.6M | ||
| Q4 24 | $57.8M | $207.0M | ||
| Q3 24 | $77.1M | $199.3M | ||
| Q2 24 | $37.4M | $83.7M | ||
| Q1 24 | $11.7M | $-214.8M |
| Q4 25 | 16.0% | 13.9% | ||
| Q3 25 | 23.6% | 35.0% | ||
| Q2 25 | 14.5% | 35.6% | ||
| Q1 25 | 5.7% | -83.8% | ||
| Q4 24 | 15.7% | 91.7% | ||
| Q3 24 | 19.9% | 71.6% | ||
| Q2 24 | 10.2% | 30.8% | ||
| Q1 24 | 3.6% | -210.3% |
| Q4 25 | 12.3% | 2.0% | ||
| Q3 25 | 5.3% | 0.9% | ||
| Q2 25 | 4.7% | 0.5% | ||
| Q1 25 | 5.0% | 0.5% | ||
| Q4 24 | 7.8% | 7.3% | ||
| Q3 24 | 5.0% | 0.4% | ||
| Q2 24 | 5.5% | 2.3% | ||
| Q1 24 | 4.5% | 8.3% |
| Q4 25 | 1.68× | 2.52× | ||
| Q3 25 | 1.42× | 9.85× | ||
| Q2 25 | 0.93× | 20.50× | ||
| Q1 25 | 0.59× | -10.18× | ||
| Q4 24 | 1.39× | — | ||
| Q3 24 | 1.25× | 12.23× | ||
| Q2 24 | 0.87× | — | ||
| Q1 24 | 0.44× | — |
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% |
PWP
Segment breakdown not available.
