IBP Installed Building Products, Inc.

Overview and Growth

In fiscal 2025, Installed Building Products, Inc. recorded $2.97B of revenue, net income of $265.40M, and an operating cash inflow of $371.40M. At $2.97B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $2.94B in fiscal 2024, revenue recorded a 1.0% year-over-year increase. Diluted earnings per share were $9.71, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $9.10 in fiscal 2024, the current result was 6.7% higher. Asset turnover was 1.44x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $1.01B as gross profit before recognizing operating expenses and other items. Gross margin was 34.0%, so that share of each revenue unit remained after the cost of revenue reported for the period. The reported operating result was $386.40M, capturing profitability after direct costs and the operating expenses reflected in the statements. Operating margin measured 13.0%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $265.40M, after the operating, financing, tax, and other items recognized for the period. Net margin was 8.9%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $357.00M of earnings, providing a bridge between the operating result and final net income. Measured against revenue, pretax income equaled 12.0%, adding a pre-tax profitability layer between revenue and net income. The company recognized $91.60M of income tax for the period, completing the transition from pretax income to net income. The income-tax provision equaled 25.7% of pretax income, showing the tax burden absorbed by the year’s earnings.

Liquidity and Capital Structure

At period end, the $2.07B asset base was financed through $1.36B of liabilities and $709.90M of equity. At period end, current assets of $1.04B compared with current liabilities of $344.20M, defining the company’s short-term resource position. The current ratio was 3.03x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $321.90M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 93.5% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $886.60M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 1.25x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 42.9% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 65.7%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 15.6% of total assets, showing the liquid cash component within the company’s broader resource base.

Cash Flow and Earnings Quality

Cash flow from operations was $371.40M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 1.4x, showing the relationship between accrual earnings and operating cash. The cash-flow statement records $70.60M of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 19.0% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $300.80M of positive free cash flow for the period. The free-cash-flow margin was 10.1%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 14.5%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.