Installed Building Products, Inc.IBP
NYSE•Consumer Cyclical•Residential Construction
Installed Building Products, Inc., together with its subsidiaries, engages in the installation of insulation for residential and commercial builders in the United States. It operates through three segments: Installation, Distribution, and Manufacturing Operations. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials. It is also involved in the installation of insulation and sealant materials in various areas of a structure, which includes basement and crawl space, building envelope, attic, and acoustical applications. In addition, the company installs a range of caulk and sealant products that control air infiltration in residential and commercial buildings; basic sliding door and complex custom designs; and standard and custom designed mirrors, as well as shower doors, and closet shelving systems. Further, it installs and services garage doors and openers, including steel, aluminum, wood, and vinyl garage doors, as well as opener systems; installs waterproofing and caulking and moisture protection systems; offers sheet and hot applied waterproofing membrane, deck coating, bentonite, and air and vapor systems; and provides rain gutters installation services. Additionally, the company provides fire-stopping systems, including fire-rated joint assemblies, perimeter fire containment, and smoke and fire containment systems installation services; and cordless blinds, shades, and shutters installation, as well as other complementary building products for new construction, repair, remodel, and commercial projects. It also distributes products and materials purchased wholesale from manufacturers, such as spray foam insulation, metal building insulation, residential insulation, and mechanical and fabricated Styrofoam insulation; and insulation products, including equipment, machines, and services. The company was formerly known as CCIB Holdco, Inc. The company was founded in 1977 and is based in Columbus, Ohio.
Installed Building Products, In (IBP) reported trailing twelve months revenue of $2.95B as of March 2026, a 0.5% increase year-over-year. Quarterly revenue reached $660.50M, reflecting continued top-line momentum.
Installed Building Products, In generated $254.80M in TTM net income, with quarterly EBITDA of $73.90M. The operating margin contracted from 10.2% to 8.7%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (8.7%) and net margin (5.3%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 6.6% a year ago, reflecting increased costs or interest expense.
IBP trades at a P/E of 21.9x (in line with broad market averages) and a P/S of 1.9x. The price-to-book ratio of 8.4x indicates a significant premium over book value.
The company generated $85.70M in free cash flow over the trailing twelve months, a 19.2% increase year-over-year, indicating cash generation ability. The balance sheet shows $2.23B in total assets with $1.04B in long-term debt against $667.50M in stockholders equity for a debt-to-equity ratio of 1.6. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~12.5%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 37.1% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue shows resilience with 4 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~12.6% — no sign of cost or pricing stress.
FCF covers net income by 1.2x on average — earnings are well-supported by cash generation.
Debt-to-equity has risen 22.1% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 4.9% — net buybacks are reducing shares outstanding and boosting per-share value.