IBP
Installed Building Products, Inc.
Materials • CIK: 0001580905
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Market Cap
$7.06B
P/E (TTM)
26.5x
Rev Growth (TTM)
+1.0%
Net Margin (TTM)
8.9%
FCF Yield (TTM)
4.3%
FCF Margin (TTM)
10.1%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$301M
Q4 '25
$49M-53%
Q3 '25
$105M+40%
FCF Margin
TTM10.1%
Q4 '256.6%-51%
Sector: 0.8%Top 25%
OCF Margin12.5%
OCF/NI1.40x
CapEx Coverage5.3x
FCF Yield4.3%
FCF Growth (2Y)+9%
Cash Conversion Cycle
64 days
DSO: 54+DIO: 36−DPO: 26
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM3.7%
Div Yield1.2%
+Buyback (TTM)2.4%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)1.2%
FCF Payout Ratio28.8%
Free Cash Flow (TTM)$300.8M
Stock Repurchases (TTM)$172.6M
Capital Return / FCF86.2%
Est. Dividends Paid (TTM)$86.5M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
17.4%
Stable
+0.0% YoY+2.6%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
9.7%
8Q: 9.8%
Asset Turnover
1.46x
8Q: 1.46x
Leverage (1+D/E)
2.25x
D/E: 1.25x
DuPont: 31.8% ≈ 17.4% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
16.56x
8Q:17.38x
-352.1%
Invested Cap Turn
1.80x
8Q:1.80x
+7.5%
CapEx Intensity
4.3%
8Q:5.0%
CapEx/Depreciation
1.15x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $3.0B | $747.5M↓3.9% | $778.2M↑2.4% | $760.3M↑11.0% | $684.8M↓8.7% | $750.2M↓1.4% | $760.6M↑3.1% | $737.6M↑6.5% | $692.9M |
Operating Income | $386.4M | $108.8M↑1.9% | $106.8M↑5.7% | $101.0M↑44.7% | $69.8M↓29.1% | $98.5M↓2.8% | $101.3M↑6.9% | $94.8M↑7.8% | $87.9M |
Net Income | $265.4M | $76.6M↑3.0% | $74.4M↑7.8% | $69.0M↑52.0% | $45.4M↓32.1% | $66.9M↓2.5% | $68.6M↑5.2% | $65.2M↑16.6% | $55.9M |
Operating Cash Flow | $371.4M | $64.9M↓47.7% | $124.0M↑37.2% | $90.4M↓1.8% | $92.1M↑23.1% | $74.8M↓26.2% | $101.4M↑28.4% | $79.0M↓6.8% | $84.8M |
Free Cash Flow | $300.8M | $49.3M↓53.0% | $104.8M↑40.1% | $74.8M↑4.0% | $71.9M↑35.9% | $52.9M↓31.6% | $77.3M↑32.8% | $58.2M↓7.6% | $63.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
26.5x
Volatile
8Q: 90.5x-2723%
High PEG ratio (3.9x) suggests expensive for growth
Valuation Lenses
Earnings
26.5x
vs – sector
Cash Flow
25.3x
EV/FCF vs –
Growth-Adj
3.9xPEG
Expensive for growth
Quality-Adj
1.5P/E per %ROIC
ROIC: 17.4%
Shareholder Returns
Dividend
1.2%
Buyback
2.4%
Total Yield
3.7%
Market Cap$7.06B
EV$7.62B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
97/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
39.2%
8Q:–
Return on Invested Capital (ROIC)Top 25%
17.4%
8Q:–
+2.6%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 9.7%
Asset Turnover: 1.46x
Earnings Quality
Cash Conversion
1.40x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin34.0%
Capital Efficiency
Invested Capital Turnover1.80x
Working Capital
Cash Conversion Cycle64 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
56/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
1.0%
OpInc Growth YoY
10.5%
EPS Growth YoY
6.8%
FCF 3Y CAGR
9.0%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
34.0%
Operating
13.0%
Above Avg in sector
Net
8.9%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+1.2 pts
FCF: 10.1% | Net: 8.9%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $564.70M
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
1.25x
Balance sheet risk & solvency analysis