Installed Building Products (IBP) financial statements
Installed Building Products reported revenue of $3.0B in fiscal 2025, up 14.7% a year over 9 years.
Net income was $265M and the operating margin 13.0%, against 7.7% in 2016.
Free cash flow was $301M, and the company returned $88M in dividends and $173M in net buybacks.
The diluted share count fell 13% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Installed Building Products's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $863M | $1.1B | $1.3B | $1.5B | $1.7B | $2.0B | $2.7B | $2.8B | $2.9B | $3.0B |
| Cost of revenue | $611M | $809M | $965M | $1.1B | $1.1B | $1.4B | $1.8B | $1.8B | $1.9B | $2.0B |
| Gross profit | $252M | $324M | $372M | $435M | $510M | $590M | $828M | $931M | $994M | $1.0B |
| Selling, general and admin | $175M | $223M | $253M | $289M | $320M | $366M | $455M | $517M | $565M | $582M |
| Operating income | $66M | $74M | $93M | $121M | $162M | $188M | $345M | $369M | $382M | $386M |
| Interest expense | $6M | $17M | $20M | $28M | $30M | $33M | $42M | $37M | $37M | $32M |
| Pre-tax income | $60M | $56M | $72M | $93M | $131M | $156M | $303M | $333M | $346M | $357M |
| Income tax | $21M | $15M | $17M | $24M | $34M | $37M | $80M | $89M | $90M | $92M |
| Net income | $38M | $41M | $55M | $68M | $97M | $119M | $223M | $244M | $257M | $265M |
| EPS (diluted) | $1.23 | $1.30 | $1.75 | $2.28 | $3.27 | $4.01 | $7.74 | $8.61 | $9.10 | $9.71 |
| Diluted shares | 31M | 32M | 31M | 30M | 30M | 30M | 29M | 28M | 28M | 27M |
| Gross margin | 29.3% | 28.6% | 27.8% | 28.8% | 30.8% | 29.9% | 31.0% | 33.5% | 33.8% | 34.0% |
| Operating margin | 7.7% | 6.6% | 7.0% | 8.0% | 9.8% | 9.5% | 12.9% | 13.3% | 13.0% | 13.0% |
| Net margin | 4.5% | 3.6% | 4.1% | 4.5% | 5.9% | 6.0% | 8.4% | 8.8% | 8.7% | 8.9% |
Balance sheet
Fiscal years, from Installed Building Products's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $14M | $93M | $101M | $216M | $232M | $333M | $230M | $386M | $328M | $322M |
| Receivables | $128M | $181M | $214M | $245M | $267M | $313M | $397M | $423M | $434M | $444M |
| Inventory | $40M | $48M | $61M | $75M | $77M | $143M | $177M | $163M | $195M | $203M |
| Total current assets | $192M | $355M | $412M | $582M | $624M | $859M | $884M | $1.1B | $1.1B | $1.0B |
| Property, plant and equipment | $68M | $81M | $90M | $106M | $104M | $106M | $119M | $137M | $175M | $183M |
| Goodwill | $107M | $155M | $173M | $196M | $217M | $323M | $374M | $399M | $433M | $450M |
| Total assets | $462M | $739M | $835M | $1.1B | $1.2B | $1.7B | $1.8B | $2.0B | $2.1B | $2.1B |
| Total current liabilities | $130M | $160M | $182M | $214M | $236M | $308M | $328M | $346M | $359M | $344M |
| Long-term debt | $134M | $331M | $432M | $545M | $542M | $832M | $830M | $835M | $842M | $850M |
| Total liabilities | $308M | $528M | $652M | $849M | $868M | $1.2B | $1.3B | $1.3B | $1.4B | $1.4B |
| Shareholders' equity | $154M | $211M | $182M | $250M | $319M | $417M | $494M | $670M | $705M | $710M |
| Net debt | $137M | $285M | $364M | $391M | $334M | $530M | $632M | $481M | $547M | $565M |
Cash flow
Fiscal years, from Installed Building Products's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $73M | $69M | $97M | $123M | $181M | $138M | $278M | $340M | $340M | $371M |
| Capital spending | $27M | $32M | $35M | $50M | $34M | $37M | $46M | $62M | $89M | $71M |
| Free cash flow | $46M | $37M | $61M | $73M | $147M | $101M | $232M | $279M | $251M | $301M |
| Stock-based compensation | $2M | $7M | $8M | $9M | $11M | $14M | $14M | $16M | $19M | $22M |
| Dividends paid | — | — | — | $0 | $0 | $35M | $63M | $63M | $85M | $88M |
| Share buybacks (net) | — | — | -$89M | $0 | -$34M | $0 | -$138M | -$6M | -$145M | -$173M |
| Net borrowing | $94M | $290M | $86M | -$21M | — | — | — | — | — | — |
| Free cash flow margin | 5.4% | 3.3% | 4.6% | 4.8% | 8.9% | 5.1% | 8.7% | 10.0% | 8.5% | 10.1% |
| Dividends per share | — | — | — | — | — | $1.19 | $2.17 | $2.23 | $3.00 | $3.21 |
Questions
What was Installed Building Products's revenue in 2025?
$3.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Installed Building Products generate?
$301M in fiscal 2025 (operating cash flow minus capital spending).
From Installed Building Products's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.