Installed Building Products, Inc.

Consumer Discretionary
Homebuilding
www.installedbuildingproducts.com

Earnings Score
Moat Score
Safety Score

Market Cap $6.00B
PE 90
Debt $903.80M
Cash $406.20M
EV $6.50B
FCF $57.86M

Earnings

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Sales & Net Margins

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Earnings	$66.74M
EBIT	$100.38M
ROE	9%
ROA	5%
FCF	$57.86M
Equity	$716.40M
Growth Stability	100%
PE	89.9
PEG	15.12
PB	8.37
P/FCF	103.69
P/S	7.26
Price/Cash	0.07
Debt/Equity	1.26
Debt/FCF	15.62
Net Margins	9%
Gross Margins	35%
Op. Margins	12%
Earnings CAGR	11%
Sales CAGR	4%
FCF CAGR	13%
Equity CAGR	19%
Earnings Stability	0.25
Earnings CAGR 5Y	6%
Sales CAGR 5Y	-3%
FCF CAGR 5Y	2%

Equity CAGR 5Y	21%
Earnings CAGR 3Y	-3%
Sales CAGR 3Y	-3%
FCF CAGR 3Y	-8%
Equity CAGR 3Y	22%
Market Cap	$6.00B
Revenue	$826.13M
Dividend Yield	1%
Payout Ratio	115%
Assets	$2.07B
Total Debt	$903.80M
Cash	$406.20M
Shares Outstanding	27.99M
EV	6.5B
Earnings Score	13%
Moat Score	78%
Safety Score	72%
Final Score	54%
Working Capital	748.1M
Current Ratio	2.99
Gross Profit	$292.21M
Shares Growth 3y	-1%
Equity Growth QoQ	5%
Equity Growth YoY	14%

Assets & ROA

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Stockholders Equity & ROE

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Installed Building Products Inc is an insulation installer serving the residential new construction market. The company operates primarily in the United States. The company installs fiberglass insulation, spray foam insulation, and cellulose insulation. In addition to insulations, the company offers installation services for garage doors, rain gutters, closet shelving, shower doors, mirrors, waterproofing, fire-stopping, fireproofing, window blinds, and other products.

SEC Filings

Direct access to Installed Building Products, Inc. (IBP) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Installed Building Products, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Installed Building Products, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 11%

Stability 25%

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Installed Building Products, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Installed Building Products, Inc..

Years

Calculation mode

= $1.5B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$58M	$66M	$75M	$85M	$96M	$109M	$124M	$140M	$159M	$180M	$205M	$2B
DCF		$60M	$62M	$64M	$66M	$68M	$70M	$72M	$74M	$77M	$79M	$789M
Value	$1.5B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	08/2023	05/2024	TTM
Net Margins	-1%	4%	4%	4%	4%	5%	6%	-	-	9%
ROA	-	12%	14%	10%	11%	11%	14%	-	-	5%
ROE	-	23%	25%	20%	30%	27%	30%	-	-	9%

Net Margins (8.66%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	08/2023	05/2024	TTM
Debt over FCF	-	18.47	3.65	9.82	7.78	8.14	4	-	-	15.62
Debt over Equity	0.31	1.17	1.1	1.73	2.62	2.37	1.84	-	-	1.26
Growth Stability	-	-	-	100%	100%	100%	100%	-	-	100%

Bad Debt/FCF ratio (15.62)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Neutral Debt/Equity ratio (1.26)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	08/2023	05/2024	CAGR 5Y
Revenue YoY growth	-	28%	30%	31%	18%	13%	9%	-	-	-3%
Earnings YoY growth	-	-545%	45%	7%	33%	24%	43%	-	-	6%
Equity YoY growth	-	25%	34%	37%	-13%	37%	28%	-	-	21%
FCF YoY growth	-	-46%	539%	-20%	65%	19%	102%	-	-	2%