AWI vs. LII

Last updated Jun 9, 2026

AWI (Armstrong World Industries, Inc.) and LII (Lennox International Inc.) are both stocks. Both are in the Industrials sector — AWI in Building Products & Equipment, LII in Specialty Industrial Machinery. Over the past 10 years, AWI returned 15.14%/yr vs 15.40%/yr for LII. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

AWI vs. LII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Armstrong World Industries, Inc. (AWI) and Lennox International Inc. (LII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AWI achieves a -20.09% return, which is significantly lower than LII's 6.05% return. Both investments have delivered pretty close results over the past 10 years, with AWI having a 15.14% annualized return and LII not far ahead at 15.40%.

AWI

• 1D: -1.98%
• 1M: -5.79%
• YTD: -20.09%
• 6M: -17.11%
• 1Y: -1.02%
• 3Y*: 32.94%
• 5Y*: 8.21%
• 10Y*: 15.14%

LII

• 1D: 0.99%
• 1M: -1.50%
• YTD: 6.05%
• 6M: 2.56%
• 1Y: -6.07%
• 3Y*: 20.35%
• 5Y*: 10.02%
• 10Y*: 15.40%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AWI vs. LII - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWI Armstrong World Industries, Inc.	-20.09%	36.23%	45.05%	45.37%	-40.26%	57.44%	-19.97%	62.79%	-3.61%	44.86%
LII Lennox International Inc.	6.05%	-19.54%	37.27%	89.55%	-24.94%	19.71%	13.79%	12.78%	6.33%	37.43%

Correlation

The correlation between AWI and LII is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Oct 19, 2006	0.54

The correlation between AWI and LII shifts across timeframes, from 0.51 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AWI : $6.57B LII : $17.97B
EPS AWI : $7.04 LII : $22.20
PE Ratio AWI : 21.60 LII : 23.13
PEG Ratio AWI : 1.30 LII : 1.41
PS Ratio AWI : 4.02 LII : 3.44
PB Ratio AWI : 7.36 LII : 14.80
Total Revenue (TTM) AWI : $1.65B LII : $5.26B
Gross Profit (TTM) AWI : $664.10M LII : $1.74B
EBITDA (TTM) AWI : $578.40M LII : $1.10B

Return for Risk

AWI vs. LII — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AWI

AWI Risk / Return Rank: 38
AWI Sharpe Ratio Rank: 41
AWI Sortino Ratio Rank: 34
AWI Omega Ratio Rank: 34
AWI Calmar Ratio Rank: 41
AWI Martin Ratio Rank: 40

LII

LII Risk / Return Rank: 34
LII Sharpe Ratio Rank: 35
LII Sortino Ratio Rank: 31
LII Omega Ratio Rank: 31
LII Calmar Ratio Rank: 36
LII Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AWI vs. LII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Armstrong World Industries, Inc. (AWI) and Lennox International Inc. (LII). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AWI	LII	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	-0.18	+0.14
Sortino ratio: Return per unit of downside risk	0.12	-0.01	+0.13
Omega ratio: Gain probability vs. loss probability	1.02	1.00	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.04	-0.18	+0.14
Martin ratio: Return relative to average drawdown	-0.10	-0.29	+0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AWI vs. LII - Sharpe Ratio Comparison

The current AWI Sharpe Ratio is -0.04, which is higher than the LII Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of AWI and LII, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AWI	LII	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.04	-0.18	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.31	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.53	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.43	-0.13

Drawdowns

AWI vs. LII - Drawdown Comparison

The maximum AWI drawdown since its inception was -80.98%, which is greater than LII's maximum drawdown of -62.76%. Use the drawdown chart below to compare losses from any high point for AWI and LII.

Drawdown Indicators

	AWI	LII	Difference
Max Drawdown Largest peak-to-trough decline	-80.98%	-62.76%	-18.22%
Max Drawdown (1Y) Largest decline over 1 year	-24.91%	-33.77%	+8.86%
Max Drawdown (3Y) Largest decline over 3 years	-24.91%	-34.71%	+9.80%
Max Drawdown (5Y) Largest decline over 5 years	-46.06%	-46.88%	+0.82%
Max Drawdown (10Y) Largest decline over 10 years	-46.44%	-46.88%	+0.44%
Current Drawdown Current decline from peak	-24.91%	-23.22%	-1.69%
Average Drawdown Average peak-to-trough decline	-18.25%	-14.50%	-3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.70%	20.72%	-10.02%

Volatility

AWI vs. LII - Volatility Comparison

The current volatility for Armstrong World Industries, Inc. (AWI) is 7.57%, while Lennox International Inc. (LII) has a volatility of 9.20%. This indicates that AWI experiences smaller price fluctuations and is considered to be less risky than LII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AWI	LII	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.57%	9.20%	-1.63%
Volatility (6M) Calculated over the trailing 6-month period	20.21%	25.88%	-5.67%
Volatility (1Y) Calculated over the trailing 1-year period	25.43%	34.85%	-9.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.16%	32.05%	-5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.96%	29.27%	+0.69%

Dividends

AWI vs. LII - Dividend Comparison

AWI's dividend yield for the trailing twelve months is around 0.87%, less than LII's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AWI Armstrong World Industries, Inc.	0.87%	0.66%	0.81%	1.06%	1.38%	0.74%	1.09%	0.77%	0.30%	0.00%	0.00%	0.00%
LII Lennox International Inc.	1.01%	1.04%	0.75%	0.97%	1.71%	1.09%	1.12%	1.21%	1.11%	0.94%	1.08%	1.10%

Financials

AWI vs. LII - Profitability Comparison

The chart below illustrates the profitability comparison between Armstrong World Industries, Inc. and Lennox International Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AWI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Armstrong World Industries, Inc. reported a gross profit of 155.30M and revenue of 409.90M. Therefore, the gross margin over that period was 37.9%.

LII - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lennox International Inc. reported a gross profit of 351.30M and revenue of 1.14B. Therefore, the gross margin over that period was 31.0%.

AWI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Armstrong World Industries, Inc. reported an operating income of 94.20M and revenue of 409.90M, resulting in an operating margin of 23.0%.

LII - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lennox International Inc. reported an operating income of 163.50M and revenue of 1.14B, resulting in an operating margin of 14.4%.

AWI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Armstrong World Industries, Inc. reported a net income of 66.80M and revenue of 409.90M, resulting in a net margin of 16.3%.

LII - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lennox International Inc. reported a net income of 117.20M and revenue of 1.14B, resulting in a net margin of 10.3%.

Frequently Asked Questions

Can I hold both AWI and LII in my portfolio?

AWI and LII have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AWI or LII?

LII has higher volatility (9.20%) compared to AWI (7.57%). In terms of maximum drawdown, AWI dropped -80.98% vs LII's -62.76%.

Which has better risk-adjusted returns?

AWI currently has the higher Sharpe Ratio (-0.04 vs -0.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.