Installed Building Products, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Installed Building Products, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	863	1,133	1,336	1,512	1,653	1,969	2,670	2,779	2,941	2,971
Cost of revenue	611	809	965	1,077	1,143	1,379	1,842	1,848	1,947	1,962
Gross profit	252	324	372	435	510	590	828	931	995	1,009
General and administrative	125	164	186	214	238	272	336	385	425	437
Operating expenses					348	402	482	562	612	623
Operating income	66.1	74.3	93.2	121	162	188	345	369	383	386
Interest expense	6.18	17.4	20.5	28.1	30.3	32.8	41.6	37	36.9	31.7
Other non-operating income	-0.26	-1.07	-0.54	-0.45	-0.4	0.4	-0.5	1	0.8	2.3
Pre-tax income	59.6	55.8	72.2	92.6	131	156	303	333	346	357
Income tax	21.2	14.7	17.4	24.4	33.9	36.7	79.9	89.4	89.8	91.6
Income from continuing operations	38.4
Net income	38.4	41.1	54.7	68.2	97.2	119	223	244	257	265
EBITDA	89.6	103	127	160	201	229	390	418	438	448
EPS, basic	1.23	1.30	1.76	2.29	3.30	4.04	7.78	8.65	9.16	9.76
EPS, diluted	1.23	1.30	1.75	2.28	3.27	4.01	7.74	8.61	9.10	9.71
Shares, basic (weighted)	31.3	31.6	31.1	29.8	29.5	29.4	28.7	28.2	28	27.2
Shares, diluted (weighted)	31.4	31.8	31.2	29.9	29.7	29.6	28.9	28.3	28.2	27.3
Dividend per share				0.00	0.00	1.20	2.16	2.22	3.00	3.18

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	14.5	62.5	90.4	178	232	333	230	387	328	322
Short-term investments		30.1	10.1	38	0	0
Receivables	128	181	214	245	267	313	397	423	434	444
Inventory	40.2	48.3	61.2	74.6	77.2	143	177	163	195	203
Other current assets	9.21	33.3	35.8	47	48.7	70	81	97.4	98.8	73.6
Total current assets	192	355	412	582	624	859	884	1,070	1,055	1,043
Property, plant and equipment	67.8	81.1	90.1	106	104	106	119	137	175	183
Lease right-of-use assets				45.7	53.8	69.9	76.2	78.1	95.6	98.7
Goodwill	107	155	173	196	217	323	374	399	433	450
Intangible assets	86.3	138	150	154	171	264	283	269	271	262
Other non-current assets	8.51	9.27	10.2	16.2	17.7	31.1	42.5	28.5	31.5	31.5
Total assets	462	739	835	1,099	1,188	1,653	1,779	1,981	2,060	2,068
Accounts payable	67.9	87.4	96.9	98.9	101	133	149	159	147	119
Accrued liabilities	18.2	25.4	27.9	33.6	45.9	51	51.6	59.6	66.4	69.5
Short-term debt	17.2	16.7	22.6	24.2	23.4	30.8	31	32.2	32.4	36.6
Total current liabilities	130	160	182	214	236	308	328	346	359	344
Long-term debt	134	331	432	545	542	832	830	835	842	850
Lease liabilities				29.8	34.4	46.1	49.8	49.9	61	61.4
Other non-current liabilities	21.2	24.6	27.8	47.7	53.2	42.4	42.5	48.5	60.5	73.8
Total liabilities	308	528	652	849	868	1,236	1,285	1,311	1,355	1,358
Total debt	151	348	455	569	565	863	861	867	875	887
Paid-in capital	159	174	182	190	200	211	229	245	261	284
Retained earnings	7.29	48.4	105	173	269	353	513	694	866	1,043
Treasury stock	-12.2	-12.8	-104	-107	-142	-147	-289	-302	-457	-640
Other comprehensive income		0.51	-0.43	-7.14	-8.76	-0.23	40.6	33.7	35	22.1
Shareholders' equity	154	211	182	250	319	417	494	670	705	710
Total equity	154	211	182	250	319	417	494	670	705	710
Total liabilities and equity	462	739	835	1,099	1,188	1,653	1,779	1,981	2,060	2,068
Shares outstanding	31.5	31.9	29.9	30	29.6	29.7	28.3	28.4	27.8	27

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	38.4	41.1	54.7	68.2	97.2	119	223	244	257	265
Depreciation and amortization	23.6	28.3	33.3	38.9	39	41	44.4	49.2	55.4	61.4
Stock-based compensation	1.89	6.59	7.84	8.73	10.8	13.8	13.8	15.9	19.4	21.5
Deferred income tax	-0.61	-6.18	0.31	5.47	-8.48	-0.4	7.1	0.6	1.6	3.7
Change in receivables	-18.8	-20	-30.2	-29.6	-10.5	-16.8	-76.5	-25.1	-10.8	-13.7
Change in inventory	-8.68	-3.67	-15.7	-10.6	0.19	-54	-16.5	16.5	-26.3	-5.8
Change in payables	12.4	6.3	8.15	0.95	-0.2	26.4	9.6	5.1	-18.8	-25.2
Cash from operations	73.3	68.8	96.6	123	181	138	278	340	340	371
Capital expenditures	-27	-31.7	-35.2	-50.2	-33.6	-37	-45.6	-61.6	-88.6	-70.6
Acquisitions	-53.3	-137	-57.7	-51.7	-76.4	-241	-114	-59.6	-88.6	-51.5
Purchases of investments		-30.2	-22.8	-52.8	-0.78	0	-344	0	0
Cash from investing	-79.6	-200	-74.1	-132	-77.8	-278	-159	-103	-159	-112
Debt issued	100	300	100	300	0	0
Debt repaid	-5.85	-10	-14.1	-21.3
Share buybacks			-89.4	0	-33.9	0	-138	-6.3	-145	-173
Dividends paid				0	0	-35.3	-62.7	-63.1	-84.7	-87.6
Cash from financing	14	180	5.37	96.1	-49.4	242	-223	-79.9	-240	-265
Net change in cash	7.66	48	27.9	87.4	53.6	102	-104	157	-58.9	-5.7
Free cash flow	46.3	37.1	61.4	72.9	147	101	232	279	251	301
Interest paid	5.34	13.8	20.1	20.9	26.3	26	40.3	42.5	43.7	41
Income taxes paid	18.9	38.9	4.95	22.6	37.1	39.2	69.1	92.5	83.6	82.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $200.23 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	33.6%	Gross profit / revenue.
Operating margin	12.4%	Operating income / revenue.
EBITDA margin	14.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	11.3%	Pre-tax income / revenue.
Net margin	8.5%	Net income / revenue.
FCF margin	9.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	12.1%	Cash from operations / revenue.
Effective tax rate	25.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	39.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	11.1%	Net income / average total assets.
Return on invested capital (ROIC)	21.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.3%	Capital expenditures / revenue.
D&A / revenue	2.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	1.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	14.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	1.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	3.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	19.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	2.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	17.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	3.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	5.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	22.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	6.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	7.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	24.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	9.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	10.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	15.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	19.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	9.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	15.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	6.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	13.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	0.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	17.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	0.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	11.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.98x	Current assets / current liabilities.
Quick ratio	2.23x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.02x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.66x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	47.2%	Total debt / total assets.
Liabilities / assets	71.6%	Total liabilities / total assets.
Net debt	$667.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.55x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	10.2x	Operating income / interest expense.
Working capital	$768.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	32.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$98.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.32x	Revenue / average total assets.
Fixed asset turnover	15.1x	Revenue / average property, plant and equipment.
Inventory turnover	8.80x	Cost of revenue / average inventory.
Days inventory	41 days	365 x average inventory / cost of revenue.
Receivables turnover	6.31x	Revenue / average receivables.
Days sales outstanding	58 days	365 x average receivables / revenue.
Days payables	28 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	71 days	Days inventory + days sales outstanding - days payables.
FCF conversion	116.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	19.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$9.39	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$110.96	Revenue / diluted weighted shares.
FCF per share	$10.92	Free cash flow / diluted weighted shares.
Operating cash flow per share	$13.48	Cash from operations / diluted weighted shares.
Book value per share	$24.06	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$3.71	Tangible book value / shares outstanding.
Cash per share	$14.84	(Cash + short-term investments) / shares outstanding.
Payout ratio	35.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	30.5%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	65.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$5.32B	Share price x shares outstanding.
Enterprise value	$5.99B	Market cap + total debt - cash - short-term investments.
P/E	21.2x	Market cap / net income. Only when net income is positive.
P/S	1.80x	Market cap / revenue.
P/B	8.32x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	18.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.8x	Market cap / cash from operations, when positive.
EV/Sales	2.02x	Enterprise value / revenue.
EV/EBIT	16.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	13.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	20.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.5%	Free cash flow / market cap.
Earnings yield	4.7%	Net income / market cap (the inverse of P/E).
Dividend yield	1.7%	Dividends paid over the period / market cap.
Shareholder yield	5.3%	(Dividends paid + share buybacks) / market cap.
PEG	2.70x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Installed Building Products, Inc.'s revenue in fiscal 2025?

Installed Building Products, Inc. reported revenue of $2.97B for fiscal 2025, 1% higher than the year before.

Was Installed Building Products, Inc. profitable in fiscal 2025?

Yes. Net income was $265.4M, a net margin of 8.9%.

How much free cash flow did Installed Building Products, Inc. generate in fiscal 2025?

Cash from operations of $371.4M minus capital expenditures of $70.6M left free cash flow of $300.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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