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Side-by-side financial comparison of ARMSTRONG WORLD INDUSTRIES INC (AWI) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). 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 $199.5M, roughly 1.9× VIRTUS INVESTMENT PARTNERS, INC.). ARMSTRONG WORLD INDUSTRIES INC runs the higher net margin — 16.9% vs 3.6%, a 13.3% gap on every dollar of revenue. On growth, ARMSTRONG WORLD INDUSTRIES INC posted the faster year-over-year revenue change (5.6% vs -4.1%). Over the past eight quarters, ARMSTRONG WORLD INDUSTRIES INC's revenue compounded faster (9.1% CAGR vs -5.7%).
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.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
AWI vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $388.3M | $199.5M |
| Net Profit | $65.5M | $7.1M |
| Gross Margin | 39.8% | — |
| Operating Margin | 23.7% | 7.7% |
| Net Margin | 16.9% | 3.6% |
| Revenue YoY | 5.6% | -4.1% |
| Net Profit YoY | 5.3% | -78.1% |
| EPS (diluted) | $1.51 | $1.05 |
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 | — | $199.5M | ||
| Q4 25 | $388.3M | $208.0M | ||
| Q3 25 | $425.2M | $216.4M | ||
| Q2 25 | $424.6M | $210.5M | ||
| Q1 25 | $382.7M | $217.9M | ||
| Q4 24 | $367.7M | $233.5M | ||
| Q3 24 | $386.6M | $227.0M | ||
| Q2 24 | $365.1M | $224.4M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $65.5M | $33.9M | ||
| Q3 25 | $86.3M | $31.3M | ||
| Q2 25 | $87.8M | $42.7M | ||
| Q1 25 | $69.1M | $28.1M | ||
| Q4 24 | $62.2M | $39.5M | ||
| Q3 24 | $76.9M | $49.1M | ||
| Q2 24 | $65.9M | $26.0M |
| Q1 26 | — | — | ||
| 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 26 | — | 7.7% | ||
| Q4 25 | 23.7% | 19.1% | ||
| Q3 25 | 27.6% | 21.7% | ||
| Q2 25 | 29.0% | 21.5% | ||
| Q1 25 | 25.7% | 16.8% | ||
| Q4 24 | 22.3% | 21.7% | ||
| Q3 24 | 28.8% | 24.3% | ||
| Q2 24 | 26.0% | 19.7% |
| Q1 26 | — | 3.6% | ||
| Q4 25 | 16.9% | 16.3% | ||
| Q3 25 | 20.3% | 14.5% | ||
| Q2 25 | 20.7% | 20.3% | ||
| Q1 25 | 18.1% | 12.9% | ||
| Q4 24 | 16.9% | 16.9% | ||
| Q3 24 | 19.9% | 21.6% | ||
| Q2 24 | 18.0% | 11.6% |
| Q1 26 | — | $1.05 | ||
| Q4 25 | $1.51 | $5.15 | ||
| Q3 25 | $1.98 | $4.65 | ||
| Q2 25 | $2.01 | $6.12 | ||
| Q1 25 | $1.58 | $4.05 | ||
| Q4 24 | $1.41 | $4.65 | ||
| Q3 24 | $1.75 | $5.71 | ||
| Q2 24 | $1.50 | $2.43 |
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 | $136.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $900.7M | $93.6B |
| Total Assets | $1.9B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $136.6M | ||
| Q4 25 | $112.7M | — | ||
| Q3 25 | $90.1M | — | ||
| Q2 25 | $81.1M | — | ||
| Q1 25 | $82.8M | — | ||
| Q4 24 | $79.3M | — | ||
| Q3 24 | $73.7M | — | ||
| Q2 24 | $73.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | — | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M |
| Q1 26 | — | $93.6B | ||
| Q4 25 | $900.7M | $934.0M | ||
| Q3 25 | $889.2M | $918.7M | ||
| Q2 25 | $837.8M | $896.4M | ||
| Q1 25 | $793.4M | $893.7M | ||
| Q4 24 | $757.1M | $897.5M | ||
| Q3 24 | $717.0M | $889.0M | ||
| Q2 24 | $669.0M | $868.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $4.3B | ||
| Q3 25 | $1.9B | $3.9B | ||
| Q2 25 | $1.9B | $3.7B | ||
| Q1 25 | $1.9B | $3.7B | ||
| Q4 24 | $1.8B | $4.0B | ||
| Q3 24 | $1.8B | $3.6B | ||
| Q2 24 | $1.8B | $3.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× |
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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $110.0M | $-67.2M | ||
| Q3 25 | $122.9M | $108.3M | ||
| Q2 25 | $81.6M | $75.8M | ||
| Q1 25 | $41.0M | $-3.8M | ||
| Q4 24 | $86.6M | $1.8M | ||
| Q3 24 | $96.5M | $69.1M | ||
| Q2 24 | $57.3M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $62.2M | $-74.1M | ||
| Q3 25 | $100.3M | $106.9M | ||
| Q2 25 | $61.7M | $74.2M | ||
| Q1 25 | $21.9M | $-6.8M | ||
| Q4 24 | $57.8M | $-3.8M | ||
| Q3 24 | $77.1M | $68.7M | ||
| Q2 24 | $37.4M | $68.6M |
| Q1 26 | — | — | ||
| Q4 25 | 16.0% | -35.6% | ||
| Q3 25 | 23.6% | 49.4% | ||
| Q2 25 | 14.5% | 35.2% | ||
| Q1 25 | 5.7% | -3.1% | ||
| Q4 24 | 15.7% | -1.6% | ||
| Q3 24 | 19.9% | 30.3% | ||
| Q2 24 | 10.2% | 30.6% |
| Q1 26 | — | — | ||
| Q4 25 | 12.3% | 3.3% | ||
| Q3 25 | 5.3% | 0.7% | ||
| Q2 25 | 4.7% | 0.7% | ||
| Q1 25 | 5.0% | 1.4% | ||
| Q4 24 | 7.8% | 2.4% | ||
| Q3 24 | 5.0% | 0.2% | ||
| Q2 24 | 5.5% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | -1.99× | ||
| Q3 25 | 1.42× | 3.45× | ||
| Q2 25 | 0.93× | 1.77× | ||
| Q1 25 | 0.59× | -0.13× | ||
| Q4 24 | 1.39× | 0.04× | ||
| Q3 24 | 1.25× | 1.41× | ||
| Q2 24 | 0.87× | 2.69× |
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% |
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
