Installed Building Products, Inc. IBP

Consumer DiscretionaryConstruction & EngineeringUnited States of America

Last close 212.46 USD on Nov 3, 2026, −17.1% year to date

Quant rating

Quant rating C Rank 185 of 344 in Consumer Discretionary

Growth C 231 of 344
Valuation D 244 of 344
Quality A 37 of 344
Revisions D 267 of 344
Momentum C 173 of 344

Wall Street consensus Hold (2.64)Average target 215.62 USD +1.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 5.6B
Enterprise value: 6.3B
52-week range: 176.44 – 346.12
3-year range: 121.43 – 346.12
Dividend yield: 0.71%
Beta (5 years): 1.67
Shares outstanding: 26.6M
Next earnings: Nov 5, 2026

About the company

Installed Building Products, Inc. is a new residential insulation installer and a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Installation segment is engaged in the installation of various products in residential new construction, repair and remodel and others. The Distribution segment sells insulation, gutters and accessories primarily to installers of these products who operate in multiple end markets. The Manufacturing segment consists of a manufacturing operation which produces cellulose insulation, asphalt and industrial fibers to sell to distributors and installers of these products. It also specializes in mechanical insulation with sales derived from retrofit work between industrial and commercial applications.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,971	2,941	2,779	2,670	1,969	–
Revenue growth	1.0%	5.9%	4.1%	35.6%	19.1%	12.4%
EPS (basic, normalized)	11.44	11.05	10.27	8.95	5.44	–
EPS growth	3.5%	7.6%	14.7%	64.5%	–	–
Gross margin	34.0%	33.8%	33.5%	31.0%	29.9%	32.4%
Net margin	8.9%	8.7%	8.8%	8.4%	6.0%	8.2%
ROE	37.5%	37.3%	41.9%	49.1%	32.3%	39.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	394
Current ratio	2.98x
Long-term debt (mil)	1,034
Net debt (mil)	678
Total equity (mil)	640
Net debt / equity	1.06x
Net debt / EBITDA	1.31x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2,971	+1.0%	2.1x	518	+0.7%	12.2x	11.44	+3.5%	18.6x
2026	2,993	+0.8%	2.1x	484	−6.7%	13.1x	10.24	−10.5%	20.7x
2027	3,056	+2.1%	2.1x	498	+3.0%	12.7x	10.79	+5.3%	19.7x
2028	3,234	+5.8%	2.0x	541	+8.6%	11.7x	12.21	+13.2%	17.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,993	−0.2%	+1.4%	+0.1%	10.24	−1.6%	+1.9%	−5.9%
2027	3,056	−2.1%	−1.1%	−2.0%	10.79	−5.8%	−3.8%	−9.0%
2028	3,234	−2.3%	−2.0%	−3.3%	12.21	−7.2%	−8.1%	−11.3%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	693	738	761	750	685	760	778	748	660	778
Sales mean (mil)	686	745	760	763	679	711	751	742	669	743
Surprise	+1.0%	−1.1%	0.0%	−1.7%	+0.8%	+7.0%	+3.6%	+0.8%	−1.2%	+4.6%
EPS reported	2.47	3.02	2.85	2.88	2.08	2.95	3.18	3.24	1.79	2.91
EPS mean	2.32	2.88	3.02	2.85	2.19	2.39	2.74	2.76	1.96	2.55
Surprise	+6.5%	+4.8%	−5.6%	+0.9%	−5.0%	+23.2%	+16.2%	+17.3%	−8.9%	+14.3%

Peer comparison Construction & Engineering

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
IBP Installed Building Products, Inc.	5.6B	1.31x	8.9%	8.83x	20.7x	19.7x	13.1x	12.7x
601618 Metallurgical Corporation of China Ltd	7.6B	4.69x	0.0%	0.34x	9.5x	9.2x	9.0x	9.1x
FOUG Eiffage SA	11.2B	–	3.9%	1.31x	9.0x	8.2x	5.2x	5.1x
CSW CSW Industrials, Inc.	4.6B	2.77x	10.4%	4.07x	22.3x	20.4x	15.5x	14.4x
MYRG MYR Group Inc	4.5B	0.84x	3.2%	5.54x	23.2x	19.4x	12.9x	10.7x
HEIJ Koninklijke Heijmans NV	2.7B	–	4.7%	4.27x	14.2x	12.1x	8.0x	7.2x
Mean		2.40x	5.2%	4.06x	16.5x	14.8x	10.6x	9.9x
Median		2.04x	4.3%	4.17x	17.5x	15.7x	11.0x	9.9x

Technical analysis

1M+10.1%
3M−6.8%
1Y−10.4%
3Y+77.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Installed Building Products, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,971	2,941	2,779	2,670	1,969	1,653
Cost of revenue	1,962	1,947	1,848	1,842	1,379	1,143
Gross profit	1,009	995	931	828	590	510
Selling, general & administrative expenses	574	559	512	449	359	314
Research & development	–	–	–	–	–	–
Depreciation/amortization	45.8	46.2	47.5	46.6	39.7	30.9
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	2.7	7.1	1.9	−13.1	2.8	2.8
Other operating expenses	0	0	0	0	0	0
Operating income	386	382	369	345	188	162
Net interest income (expense)	−31.7	−36.9	−37.0	−41.6	−32.8	−30.3
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	2.3	0.8	1.0	−0.5	0.4	−0.4
Net income before taxes	357	346	333	303	155	131
Provision for taxes	91.6	89.8	89.4	79.9	36.7	33.9
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	265	257	244	223	119	97.2
Extraordinary items	–	–	–	–	–	–
Net income	265	257	244	223	119	97.2
EBIT, normalized	389	390	371	332	191	165
EBITDA, normalized	496	491	468	423	271	235
Basic EPS, normalized	11.44	11.05	10.27	8.95	5.44	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Installed Building Products, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	322	328	386	230	333	232
Receivables	471	467	455	427	345	291
Total inventory	203	195	163	177	143	77.2
Prepaid expenses	–	–	–	–	–	–
Other current assets	46.3	65.6	65.7	51.5	37.3	24.3
Total current assets	1,043	1,055	1,070	884	859	624
Property, plant & equipment	282	270	215	195	176	158
Goodwill	450	433	399	374	323	217
Intangibles	262	270	269	283	264	171
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	31.5	31.5	28.5	42.5	31.1	17.7
Total assets	2,068	2,060	1,981	1,779	1,653	1,188
Liabilities
Accounts payable	119	147	159	149	133	101
Payable/accrued	–	–	–	–	–	–
Accrued expenses	129	119	106	95.2	88.1	77.4
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	39.3	35.2	34.9	33.5	32.6	25.4
Other current liabilities	56.8	58.1	46.4	50.2	54.2	32.1
Total current liabilities	344	359	346	328	308	236
Long-term debt	854	848	842	837	835	544
Minority interest	–	–	–	–	–	–
Other liabilities	160	148	123	121	93.3	87.6
Total liabilities	1,358	1,355	1,311	1,285	1,236	868
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.3	0.3	0.3	0.3	0.3	0.3
Additional paid-in capital	284	261	245	229	211	200
Retained earnings (accumulated deficit)	1,043	866	694	513	353	269
Treasury stock	−640	−457	−302	−289	−147	−142
Other equity	22.1	35.0	33.7	40.6	−0.2	−8.8
Total equity	710	705	670	493	417	319
Total liabilities & shareholders' equity	2,068	2,060	1,981	1,779	1,653	1,188

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Installed Building Products, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	265	257	244	223	119	97.2
Depreciation, depletion & amortization	107	102	96.7	91.0	80.6	69.9
Deferred taxes	3.7	1.7	0.5	7.1	−0.4	−8.5
Non-cash items	55.0	51.3	39.9	28.9	42.7	35.3
Changes in working capital	−60.0	−71.2	−40.6	−72.5	−103	−13.1
Cash from operations	371	340	340	278	138	181
Investing activities
Capital expenditures	−70.6	−88.6	−61.6	−45.6	−37.0	−33.6
Other investing cash flows	−41.4	−70.5	−41.8	−113	−241	−44.2
Cash from investing	−112	−159	−103	−159	−278	−77.8
Financing activities
Financing cash flow items	−11.9	−11.7	−11.8	−16.3	−22.0	−7.4
Cash dividends paid	−87.6	−84.7	−63.1	−62.7	−35.3	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−166	−143	−5.0	−144	299	−42.0
Cash from financing	−265	−240	−79.9	−223	242	−49.4
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−5.7	−58.9	157	−104	102	53.6
Free cash flow	301	251	279	232	101	147

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.