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Armstrong World Industries cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$71.5M in Q3 2026 · $218M over twelve months

Operating cash flow$96.2M
Capital spending−$24.7M
Free cash flow+$71.5M
Cash / net income1.0×
Cash conversion cycle36 days

Analysis

In Q3 2026, Armstrong World Industries generated $96.2M of operating cash flow and spent $24.7M on capital projects, leaving free cash flow of $71.5M. That is $28.8M less than in Q3 2025 ($100M).

Over the twelve months to Sep 30, 2026, operating cash flow was $332M; the largest uses were net borrowing (+) / repaid (−) ($354M), buybacks ($263M), capital spending ($114M); besides operations, cash came from other financing ($380M), other investing ($131M); the cash balance fell by $18.7M.

Operating cash flow was $96.2M against net income of $91.9M — 1.0× profit, roughly in line with earnings. The largest differences: depreciation & amortization +$32.2M, payables +$14.2M, inventory −$8.4M.

Its cash conversion cycle was 36 days (receivables 36 + inventory 42 − payables 43).

Free cash flow

Armstrong World Industries: free cash flow by quarterArmstrong World Industries: free cash flow by quarter$57.8MQ4 2024$21.9MQ1 2025$61.7MQ2 2025$100MQ3 2025$62.2MQ4 2025$14.4MQ1 2026$69.8MQ2 2026$71.5MQ3 2026
Operating cash flow less capital spending.
Armstrong World Industries: operating cash flow against capital spendingArmstrong World Industries: operating cash flow against capital spendingOperating cash flowCapital spending$86.6M$28.8MQ4 2024$41.0M$19.1MQ1 2025$81.6M$19.9MQ2 2025$123M$22.6MQ3 2025$110M$47.8MQ4 2025$32.1M$17.7MQ1 2026$93.8M$24.0MQ2 2026$96.2M$24.7MQ3 2026
Latest (Q3 2026): Operating cash flow $96.2M, Capital spending $24.7M.

Capital allocation, year by year

Armstrong World Industries: where the cash came from (up) and went (down), by fiscal yearArmstrong World Industries: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $187MFY2021: Net borrowing −$87.1MFY2021: Shares issued $2.5MFY2021: Asset sales $100KFY2021: Capital spending −$79.8MFY2021: Acquisitions −$700KFY2021: Buybacks −$80.0MFY2021: Dividends −$41.4M$190MFY2021FY2022: Operating cash flow $182MFY2022: Net borrowing $19.1MFY2022: Shares issued $1.8MFY2022: Capital spending −$74.8MFY2022: Acquisitions −$2.8MFY2022: Buybacks −$165MFY2022: Dividends −$44.2M$203MFY2022FY2023: Operating cash flow $234MFY2023: Net borrowing −$67.7MFY2023: Shares issued $200KFY2023: Capital spending −$83.8MFY2023: Acquisitions −$26.5MFY2023: Buybacks −$132MFY2023: Dividends −$46.9M$234MFY2023FY2024: Operating cash flow $267MFY2024: Net borrowing −$65.8MFY2024: Shares issued $1.4MFY2024: Asset sales $24.3MFY2024: Capital spending −$82.8MFY2024: Acquisitions −$124MFY2024: Buybacks −$56.3MFY2024: Dividends −$50.6M$292MFY2024FY2025: Operating cash flow $356MFY2025: Net borrowing −$123MFY2025: Asset sales $1.0MFY2025: Capital spending −$109MFY2025: Acquisitions −$13.9MFY2025: Buybacks −$129MFY2025: Dividends −$55.2M$356MFY2025
Over these 5 years operating cash flow totalled $1.2B; the largest uses were buybacks ($562M) and capital spending ($431M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$71.4M
Debt$470M
Net debt$398M
Due within a year$10.3M

Armstrong World Industries funds itself: free cash flow was $218M over the last twelve months, and $71.4M of cash and investments stands against $470M of debt ($10.3M due within a year, 6.9× covered by cash).

Armstrong World Industries: debt maturities by year (FY2025)Armstrong World Industries: debt maturities by year (FY2025)$10.3MYear 1$10.3MYear 2$20.5MYear 3$20.5MYear 4$349MYear 5
Principal due in each year as disclosed in the annual report, against $71.4M of cash and investments now.

Where the cash came from and went

Armstrong World Industries: sources (+) and uses (−) of cash, Q3 2026Armstrong World Industries: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$96.2MBuybacks−$75.7MOther investing$34.9MCapital spending−$24.7MNet borrowing (+) / repaid (−)−$23.6MDividends−$14.3MCash drawn (+) / kept (−)$7.2MExchange rates$300KOther financing−$200KAcquisitions−$100K
Armstrong World Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Armstrong World Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$380MNet borrowing (+) / repaid (−)−$354MOperating cash flow$332MBuybacks−$263MOther investing$131MCapital spending−$114MAcquisitions−$72.1MDividends−$59.1MCash drawn (+) / kept (−)$18.7MExchange rates−$300K

From profit to cash

Armstrong World Industries: net income to operating cash flow, Q3 2026Armstrong World Industries: net income to operating cash flow, Q3 2026Net income$91.9MDepreciation & amortization$32.2MStock-based pay$4.6MReceivables−$3.6MInventory−$8.4MPayables$14.2MIncome taxes payable$3.2MOther operating capital−$6.0MOperating cash flow$96.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202636424336
Q2 202634424135
Q1 202632454335
Q4 202534494538
Q3 202534453841
Q2 202533433541
Q1 202534443939
Q4 202433464535

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$96.2M−$24.7M−$100K−$75.7M−$14.3M−$23.6M$7.2M$71.5M
Q2 2026$93.8M−$24.0M—−$76.8M−$15.5M$11.5M$1.2M$69.8M
Q1 2026$32.1M−$17.7M−$64.8M−$60.6M−$14.7M$68.7M$32.9M$14.4M
Q4 2025$110M−$47.8M−$7.2M−$49.5M−$14.6M−$410M−$22.6M$62.2M
Q3 2025$123M−$22.6M−$7.5M−$27.0M−$13.4M−$76.7M−$9.0M$100M
Q2 2025$81.6M−$19.9M$800K−$30.4M−$13.8M−$40.0M$1.7M$61.7M
Q1 2025$41.0M−$19.1M—−$22.0M−$13.4M−$6.4M−$3.5M$21.9M
Q4 2024$86.6M−$28.8M−$30.0M−$16.3M−$13.5M−$31.6M−$5.6M$57.8M

Armstrong World Industries: income statement and cash flow

Armstrong World Industries, Q3 2026: revenue $476M (+12% year over year), operating margin 27.6%. The chart follows the revenue to costs, profit and cash.

Armstrong World Industries: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.