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Side-by-side financial comparison of ARMSTRONG WORLD INDUSTRIES INC (AWI) and Bio-Techne (TECH). 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 $295.9M, roughly 1.3× Bio-Techne). ARMSTRONG WORLD INDUSTRIES INC runs the higher net margin — 16.9% vs 12.8%, a 4.0% gap on every dollar of revenue. On growth, ARMSTRONG WORLD INDUSTRIES INC posted the faster year-over-year revenue change (5.6% vs -6.4%). Over the past eight quarters, ARMSTRONG WORLD INDUSTRIES INC's revenue compounded faster (9.1% CAGR vs 4.2%).
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.
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
AWI vs TECH — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $388.3M | $295.9M |
| Net Profit | $65.5M | $38.0M |
| Gross Margin | 39.8% | 64.6% |
| Operating Margin | 23.7% | 18.4% |
| Net Margin | 16.9% | 12.8% |
| Revenue YoY | 5.6% | -6.4% |
| Net Profit YoY | 5.3% | 68.3% |
| EPS (diluted) | $1.51 | $0.24 |
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 | $295.9M | ||
| Q3 25 | $425.2M | — | ||
| Q2 25 | $424.6M | $317.0M | ||
| Q1 25 | $382.7M | $316.2M | ||
| Q4 24 | $367.7M | $297.0M | ||
| Q3 24 | $386.6M | $289.5M | ||
| Q2 24 | $365.1M | $306.1M | ||
| Q1 24 | $326.3M | $303.4M |
| Q4 25 | $65.5M | $38.0M | ||
| Q3 25 | $86.3M | — | ||
| Q2 25 | $87.8M | $-17.7M | ||
| Q1 25 | $69.1M | $22.6M | ||
| Q4 24 | $62.2M | $34.9M | ||
| Q3 24 | $76.9M | $33.6M | ||
| Q2 24 | $65.9M | $40.6M | ||
| Q1 24 | $59.9M | $49.1M |
| Q4 25 | 39.8% | 64.6% | ||
| Q3 25 | 42.0% | — | ||
| Q2 25 | 41.4% | 62.7% | ||
| Q1 25 | 39.2% | 67.9% | ||
| Q4 24 | 39.1% | 65.3% | ||
| Q3 24 | 42.4% | 63.2% | ||
| Q2 24 | 40.9% | 66.4% | ||
| Q1 24 | 38.1% | 67.4% |
| Q4 25 | 23.7% | 18.4% | ||
| Q3 25 | 27.6% | — | ||
| Q2 25 | 29.0% | -7.5% | ||
| Q1 25 | 25.7% | 12.2% | ||
| Q4 24 | 22.3% | 16.0% | ||
| Q3 24 | 28.8% | 13.8% | ||
| Q2 24 | 26.0% | 15.0% | ||
| Q1 24 | 26.4% | 22.1% |
| Q4 25 | 16.9% | 12.8% | ||
| Q3 25 | 20.3% | — | ||
| Q2 25 | 20.7% | -5.6% | ||
| Q1 25 | 18.1% | 7.1% | ||
| Q4 24 | 16.9% | 11.7% | ||
| Q3 24 | 19.9% | 11.6% | ||
| Q2 24 | 18.0% | 13.3% | ||
| Q1 24 | 18.4% | 16.2% |
| Q4 25 | $1.51 | $0.24 | ||
| Q3 25 | $1.98 | — | ||
| Q2 25 | $2.01 | $-0.11 | ||
| Q1 25 | $1.58 | $0.14 | ||
| Q4 24 | $1.41 | $0.22 | ||
| Q3 24 | $1.75 | $0.21 | ||
| Q2 24 | $1.50 | $0.26 | ||
| Q1 24 | $1.36 | $0.31 |
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 | $172.9M |
| Total DebtLower is stronger | — | $260.0M |
| Stockholders' EquityBook value | $900.7M | $2.0B |
| Total Assets | $1.9B | $2.5B |
| Debt / EquityLower = less leverage | — | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.7M | $172.9M | ||
| Q3 25 | $90.1M | — | ||
| Q2 25 | $81.1M | $162.2M | ||
| Q1 25 | $82.8M | $140.7M | ||
| Q4 24 | $79.3M | $177.5M | ||
| Q3 24 | $73.7M | $187.5M | ||
| Q2 24 | $73.6M | $152.9M | ||
| Q1 24 | $69.6M | $145.3M |
| Q4 25 | — | $260.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $346.0M | ||
| Q1 25 | — | $330.0M | ||
| Q4 24 | — | $300.0M | ||
| Q3 24 | — | $300.0M | ||
| Q2 24 | — | $319.0M | ||
| Q1 24 | — | $389.0M |
| Q4 25 | $900.7M | $2.0B | ||
| Q3 25 | $889.2M | — | ||
| Q2 25 | $837.8M | $1.9B | ||
| Q1 25 | $793.4M | $2.0B | ||
| Q4 24 | $757.1M | $2.1B | ||
| Q3 24 | $717.0M | $2.1B | ||
| Q2 24 | $669.0M | $2.1B | ||
| Q1 24 | $626.8M | $2.0B |
| Q4 25 | $1.9B | $2.5B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | $2.6B | ||
| Q1 25 | $1.9B | $2.6B | ||
| Q4 24 | $1.8B | $2.7B | ||
| Q3 24 | $1.8B | $2.7B | ||
| Q2 24 | $1.8B | $2.7B | ||
| Q1 24 | $1.7B | $2.7B |
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.19× |
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 | — |
| FCF MarginFCF / Revenue | 16.0% | — |
| Capex IntensityCapex / Revenue | 12.3% | — |
| Cash ConversionOCF / Net Profit | 1.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | $246.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.0M | — | ||
| Q3 25 | $122.9M | — | ||
| Q2 25 | $81.6M | $98.2M | ||
| Q1 25 | $41.0M | $41.1M | ||
| Q4 24 | $86.6M | $84.3M | ||
| Q3 24 | $96.5M | $63.9M | ||
| Q2 24 | $57.3M | $75.5M | ||
| Q1 24 | $26.4M | $81.0M |
| Q4 25 | $62.2M | — | ||
| Q3 25 | $100.3M | — | ||
| Q2 25 | $61.7M | $93.3M | ||
| Q1 25 | $21.9M | $31.0M | ||
| Q4 24 | $57.8M | $77.5M | ||
| Q3 24 | $77.1M | $54.7M | ||
| Q2 24 | $37.4M | $57.5M | ||
| Q1 24 | $11.7M | $64.5M |
| Q4 25 | 16.0% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 14.5% | 29.4% | ||
| Q1 25 | 5.7% | 9.8% | ||
| Q4 24 | 15.7% | 26.1% | ||
| Q3 24 | 19.9% | 18.9% | ||
| Q2 24 | 10.2% | 18.8% | ||
| Q1 24 | 3.6% | 21.3% |
| Q4 25 | 12.3% | — | ||
| Q3 25 | 5.3% | — | ||
| Q2 25 | 4.7% | 1.5% | ||
| Q1 25 | 5.0% | 3.2% | ||
| Q4 24 | 7.8% | 2.3% | ||
| Q3 24 | 5.0% | 3.2% | ||
| Q2 24 | 5.5% | 5.9% | ||
| Q1 24 | 4.5% | 5.4% |
| Q4 25 | 1.68× | — | ||
| Q3 25 | 1.42× | — | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 0.59× | 1.82× | ||
| Q4 24 | 1.39× | 2.42× | ||
| Q3 24 | 1.25× | 1.90× | ||
| Q2 24 | 0.87× | 1.86× | ||
| Q1 24 | 0.44× | 1.65× |
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% |
TECH
| Diagnostics And Spatial Biology | $81.2M | 27% |
| EMEA Excluding UK | $75.4M | 25% |
| Other | $42.4M | 14% |
| Instruments | $29.6M | 10% |
| APAC Excluding Greater China | $22.7M | 8% |
| Services | $22.3M | 8% |
| GB | $13.7M | 5% |
| Royalty | $8.5M | 3% |
