olivLaw · US equity research
Installed Building Products, Inc. IBP
General Bldg Contractors - Residential Bldgs · SIC 1520 · Vertical: General Bldg Contractors - Residential Bldgs (SIC 1520)
Installed Building Products is one of the largest insulation installers in the United States, active mainly in new residential construction and extended into complementary products such as waterproofing and garage doors. In the second quarter of 2026 revenue rose slightly, supported by commercial work and acquisitions, while the residential segment remained under pressure from weak housing demand.
At the close of 05 Nov 2026, Installed Building Products, Inc. (IBP) stock was 223.08 USD (−5.24% on the day), with market capitalisation 5.9 bn USD, P/E 24.0 on diluted EPS of 9.29 USD over the last 12 months, dividend yield 1.49%, beta 1.07, 52-week range 180.33–344.19 USD. Latest reported quarter (Q2 2026): revenue of 777.8 m USD (+2.3% YoY), net income of 64.9 m USD (−5.9% YoY), diluted EPS 2.43 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 60.3
- strong (55–70)
- Bollinger (20, 2)
- 169.36 – 230.04
- in the upper half of the band · %B 0.89 · band width 30.4%
- SMA 50 / 200
- 204.95 / 245.60
- mixed trend
- MACD (12, 26, 9)
- 6.28 / 1.87
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +15.7% | −1.1% | +16.8 pp | — |
| 3 months | −7.8% | −0.5% | −7.4 pp | — |
| 6 months | +2.8% | +4.4% | −1.6 pp | — |
| Year to date | −14.0% | +12.3% | −26.3 pp | — |
| 1 year | −9.3% | +13.5% | −22.8 pp | −30.2% |
| 3 years | +82.1% | +76.4% | +5.7 pp | — |
| 5 years | +68.2% | +63.7% | +4.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 760.6 m | 750.2 m | 684.8 m | 760.3 m | 778.2 m | 747.5 m | 660.5 m | 777.8 m |
| Cost of revenue | 503.8 m | 498.4 m | 461.1 m | 500.4 m | 514.0 m | 486.0 m | 448.2 m | 518.9 m |
| Gross profit | 256.8 m | 251.8 m | 223.7 m | 259.9 m | 264.2 m | 261.5 m | 212.3 m | 258.9 m |
| Operating income | 101.3 m | 98.5 m | 69.8 m | 101.0 m | 106.8 m | 108.8 m | 57.6 m | 94.6 m |
| Depreciation & amortisation | 14.2 m | 15.0 m | 15.2 m | 15.2 m | 15.3 m | 15.7 m | 16.3 m | 16.5 m |
| Interest expense | 7.7 m | 9.1 m | 8.3 m | 8.3 m | 6.9 m | 8.2 m | 10.3 m | 10.5 m |
| Pre-tax income | 93.9 m | 89.4 m | 61.3 m | 93.4 m | 100.3 m | 102.0 m | 47.1 m | 85.1 m |
| Income tax | 25.3 m | 22.5 m | 15.9 m | 24.4 m | 25.9 m | 25.4 m | 12.3 m | 20.2 m |
| Net income | 68.6 m | 66.9 m | 45.4 m | 69.0 m | 74.4 m | 76.6 m | 34.8 m | 64.9 m |
| Diluted EPS | 2.44 | 2.39 ≈ | 1.64 | 2.52 | 2.74 | 2.83 ≈ | 1.29 | 2.43 |
| Operating cash flow | 101.4 m ≈ | 74.8 m | 92.1 m | 90.4 m ≈ | 124.0 m ≈ | 64.9 m | 102.3 m | 68.8 m ≈ |
| Capex | 24.1 m ≈ | 21.9 m | 20.2 m | 15.6 m ≈ | 19.2 m ≈ | 15.6 m | 16.6 m | 16.9 m ≈ |
| Dividends paid | 9.8 m | 9.7 m | 56.8 m | 10.1 m | 10.0 m | 9.9 m | 58.7 m | 10.4 m |
| Share repurchases | 20.7 m ≈ | 78.9 m | 34.3 m | 49.2 m ≈ | 51.4 m ≈ | 37.7 m | 25.4 m | 76.3 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 36 percentile of its own 39-quarter history (min 11.0, median 26.5, max 58.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.3 bn | 1.5 bn | 1.7 bn | 2.0 bn | 2.7 bn | 2.8 bn | 2.9 bn | 3.0 bn |
| Revenue YoY | +18.0% | +13.1% | +9.4% | +19.1% | +35.6% | +4.1% | +5.9% | +1.0% |
| Net income | 54.7 m | 68.2 m | 97.2 m | 118.8 m | 223.4 m | 243.7 m | 256.6 m | 265.4 m |
| Net income YoY | +33.1% | +24.5% | +42.7% | +22.2% | +88.0% | +9.1% | +5.3% | +3.4% |
| Diluted EPS | 1.75 | 2.28 | 3.27 | 4.01 | 7.74 | 8.61 | 9.10 | 9.71 |
| Diluted EPS YoY | +34.6% | +30.3% | +43.4% | +22.6% | +93.0% | +11.2% | +5.7% | +6.7% |
| net % | 4.1% | 4.5% | 5.9% | 6.0% | 8.4% | 8.8% | 8.7% | 8.9% |
| Free cash flow | 61.4 m | 72.9 m | 147.2 m | 101.3 m | 232.3 m | 278.6 m | 251.4 m | 300.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 321.9 m USD
- Financial debt
- 886.6 m USD
- Net debt
- 564.7 m USD
- Equity
- 709.9 m USD
- Total assets
- 2.1 bn USD
- Debt / equity
- 1.25x
- Current ratio
- 3.03x
- ROE
- 37.5%
- ROA
- 12.9%
- FCF margin
- 10.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.7 bn | 2.0 bn | 2.7 bn | 2.8 bn | 2.9 bn | 3.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 1.1 bn | 1.4 bn | 1.8 bn | 1.8 bn | 1.9 bn | 2.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 510.0 m | 589.5 m | 827.8 m | 930.7 m | 994.5 m | 1.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | 161.9 m | 187.9 m | 345.4 m | 369.1 m | 382.5 m | 386.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 39.0 m | 41.0 m | 44.4 m | 49.2 m | 55.4 m | 61.4 m | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | 200.9 m ≈ | 228.9 m ≈ | 389.8 m ≈ | 418.3 m ≈ | 437.9 m ≈ | 447.8 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 30.3 m | 32.8 m | 41.6 m | 37.0 m | 36.9 m | 31.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 131.2 m | 155.5 m | 303.3 m | 333.1 m | 346.4 m | 357.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 33.9 m | 36.7 m | 79.9 m | 89.4 m | 89.8 m | 91.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | 97.2 m | 118.8 m | 223.4 m | 243.7 m | 256.6 m | 265.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | 3.27 | 4.01 | 7.74 | 8.61 | 9.10 | 9.71 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 29.7 m | 29.6 m | 28.9 m | 28.3 m | 28.2 m | 27.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividend per share | 0.00 | 1.20 | 2.16 | 2.22 | 3.00 | 3.18 | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 231.5 m | 333.5 m | 229.6 m | 386.5 m | 327.6 m | 321.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 266.6 m | 312.8 m | 397.2 m | 423.3 m | 433.9 m | 444.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 77.2 m | 143.0 m | 176.6 m | 162.8 m | 194.6 m | 203.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 623.9 m | 859.3 m | 884.4 m | 1.1 bn | 1.1 bn | 1.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 104.0 m | — | — | — | — | — | SEC (XBRL)· 24 Feb 2021verified |
| Goodwill | 216.9 m | 322.5 m | 373.6 m | 398.8 m | 432.6 m | 450.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 171.4 m | 264.4 m | 283.4 m | 268.7 m | 270.5 m | 261.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 1.2 bn | 1.7 bn | 1.8 bn | 2.0 bn | 2.1 bn | 2.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 101.5 m | 132.7 m | 149.2 m | 158.6 m | 146.6 m | 119.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 23.4 m | 30.8 m | 31.0 m | 32.2 m | 32.4 m | 36.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 542.0 m | 832.2 m | 830.2 m | 835.1 m | 842.4 m | 850.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 236.5 m | 307.6 m | 328.1 m | 346.4 m | 359.0 m | 344.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 868.5 m | 1.2 bn | 1.3 bn | 1.3 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 319.2 m † | 416.8 m † | 493.5 m † | 670.3 m † | 705.3 m † | 709.9 m † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 180.8 m | 138.3 m | 277.9 m | 340.2 m | 340.0 m | 371.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 33.6 m | 37.0 m | 45.6 m | 61.6 m | 88.6 m | 70.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | 147.2 m ≈ | 101.3 m ≈ | 232.3 m ≈ | 278.6 m ≈ | 251.4 m ≈ | 300.8 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -77.8 m | -278.4 m | -158.7 m | -103.4 m | -159.1 m | -112.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | -49.4 m | 242.1 m | -223.1 m | -79.9 m | -239.8 m | -265.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividends paid | 0 | 35.3 m | 62.7 m | 63.1 m | 84.7 m | 87.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 33.9 m | 0 | 137.6 m | 6.3 m | 145.3 m | 172.6 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 63 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 5.9 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation27
- Returns80
- Quality95
- Balance sheet85
- Growth41
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 41.79 – 246.07 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)144.14 – 246.07 (Mid 182.59)WACC 8.6% · starting FCFF 318.6 m USD · terminal value share of EV 75%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 11.6%
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)41.79 – 56.20 (Mid 47.93)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 63/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 21.7% | 100 (on a fixed band) | 10% |
| Net margin · Quality | 8.5% | 80 (vs peers) | 6% |
| FCF conversion · Quality | 116.4% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | 3.6% | 30 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | 7.9% | 52 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | 1.5x | 70 (on a fixed band) | 10% |
| Interest coverage · Balance sheet | 10.2x | 100 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 3.0x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 24.0x | 27 (on a fixed band) | 10% |
| EV/EBITDA · Valuation | 15.3x | 0 (on a fixed band) | 10% |
| FCF yield · Valuation | 4.9% | 61 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 4.7% | 67 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 30.5% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet85/100 · 3/3 factors with a value
- Growth41/100 · 2/2 factors with a value
- Quality95/100 · 3/3 factors with a value
- Returns80/100 · 2/2 factors with a value
- Valuation27/100 · 3/3 factors with a value
Memo
Installed Building Products, Inc. (IBP). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 3.0 bn USD in 2025; YoY growth 1.0%; net margin 8.5%; ROE 38.5%; net debt/EBITDA 1.5x.
The estimated value range is 92.96–151.13 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 115.26 USD, the price of 223.08 USD leaves a potential of -48.3% (value / price − 1) and a margin of safety of -93.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 63/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 21.7%
- Net margin: 8.5%
- FCF conversion: 116.4%
- Net debt / EBITDA: 1.5x
- Interest coverage: 10.2x
- Current ratio: 3.0x
- Payout ratio (FCF): 30.5%
What contradicts it
- P/E (TTM): 24.0x
- EV/EBITDA: 15.3x
- The price is above the estimated value range
- The valuation methods diverge
Versus the vertical median
General Bldg Contractors - Residential Bldgs (SIC 1520) · same industry (4-digit SIC) · compared with 5 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| IBPInstalled Building Products, Inc. | 5.9 bn | 24.0 | 38.5% | 8.5% | +1.0% | −9% / +82% |
| GEOThe GEO Group, Inc. | 3.3 bn | 11.9 | 20.1% | 10.3% | +8.6% | +60% / +148% |
| FBGLFBS Global Limited | 29.2 m | — | -23.6% | -7.9% | +84.3% | −67% / unavailable |
| SPHLSpringview Holdings Ltd | 26.6 m | — | -36.4% | -30.1% | −5.8% | −36% / unavailable |
| ONEGOneConstruction Group Limited | 20.3 m | — | -212.7% | -26.8% | −7.2% | +6% / unavailable |
| LENLennar Corp | — | — | 5.9% | 4.1% | −3.5% | −30% / −26% |
1- and 3-year price returns: for IBP from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 132.67 Total return -39% · Per year -39% | 234.65 Total return 7% · Per year 7% | 353.58 Total return 60% · Per year 60% |
| 3 years | 126.50 Total return -40% · Per year -16% | 251.97 Total return 18% · Per year 6% | 417.21 Total return 93% · Per year 25% |
| 5 years | 120.62 Total return -40% · Per year -10% | 270.57 Total return 30% · Per year 5% | 492.28 Total return 132% · Per year 18% |
- Exit P/E± 62.99
- Net margin± 44.09
- Annual revenue growth± 36.50
- Annual dilution± 3.71
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Installed Building Products is one of the largest insulation installers in the United States, active mainly in new residential construction and extended into complementary products such as waterproofing and garage doors. In the second quarter of 2026 revenue rose slightly, supported by commercial work and acquisitions, while the residential segment remained under pressure from weak housing demand 23.
SWOT
Strengths
- National scale with a strong local presence, combined with a diversified customer base and a leading position in new residential insulation 1.
- Solid balance sheet, high liquidity without using the credit line, and strong cash flow supported by a variable cost structure 12.
- A diversified range of products and segments that reduces dependence on any single construction area 1.
Weaknesses
- High dependence on new residential construction, where demand has weakened in 2026 due to high mortgage rates 12.
- Gross margin declined in the second quarter of 2026, mainly due to fuel, insurance and labour costs 3.
- Intangible assets and goodwill make up a significant share of total assets, exposing the company to impairment risk 1.
Opportunities
- Growth in commercial construction and large long-duration projects could offset residential weakness 12.
- Continued acquisitions can extend geographic reach and product range, particularly in growing segments 3.
- Vertical integration through distribution and manufacturing could improve control over material costs 2.
Risks
- Dependence on new residential constructionhigh
Most revenue comes from installation in new residential construction. A further fall in housing starts could materially affect results 1.
- Goodwill impairmentmedium
Goodwill and intangible assets make up a large share of total assets. If acquired units underperform, impairment charges could reduce stockholders' equity 1.
- Margin pressuremedium
Fuel, insurance, vehicle depreciation and labour costs reduced gross margin. If prices cannot be adjusted, results could be affected 3.
- Supply chain disruptionmedium
The company relies on key suppliers and has only limited long-term supply agreements. Loss of a supplier or product shortages could affect deliveries 1.
- Technological change and new requirementslow
Changes in materials or building requirements could require equipment investment and new supplier relationships if the company does not adapt quickly 1.
Investment thesis
What would need to be true (bull case)
- Commercial segment growth has been strong and could support revenue if the residential market stays weak 23.
- The solid balance sheet and cash flow allow continued dividends and share repurchases even in periods of weak demand 23.
- The acquisition strategy and vertical integration could expand revenue and improve cost control over the longer term 13.
What would break the thesis
- Same branch residential sales continue to decline, and if mortgage rates stay high, demand could remain weak 23.
- Gross margin declined in the second quarter of 2026, and operating costs could limit a recovery in profitability 3.
- Goodwill makes up a large share of assets, so impairments could significantly reduce stockholders' equity 1.
What to watch
- Same branch residential sales trend and mortgage rate developmentsQ3 2026
- Installation segment gross margin and the impact of fuel and insurance costsQ3 2026
- Progress on acquisitions against the target of at least 100 million USD annual revenue in 20262026
- Updated outlook on housing demand and commercial construction in the annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company mainly installs insulation for residential and commercial builders in the continental United States, through a national network of branches. Besides insulation it offers services for waterproofing, fire-stopping, garage doors, rain gutters, window blinds, shower doors and closet shelving. Net revenue in fiscal 2025 was 2970.8 million USD 1.
The business model is vertically integrated: the company buys directly from manufacturers and delivers materials to job sites, without relying on intermediate distributors. Its acquisition strategy, with over 200 deals since 1999, has broadened its product range and geographic reach 1.
The Installation segment generates most revenue and gross profit, while the Distribution and Manufacturing segments are smaller but growing, supporting procurement integration. The company has built solid liquidity and has not drawn on its revolving credit line 12.
Segments
Market context
The US housing market was expected to remain stable in 2026, with housing starts projected around 1.31 million, after 1.36 million in 2025 1. High mortgage rates and reduced affordability limit demand for new homes, while commercial construction could grow 1.
The commercial market is supported by long-term project investment, which gives better revenue visibility. The company operates in a fragmented, locally competitive industry, and material prices and labour influence margins 1.
Trends
- Weakening residential demandheadwind
Same branch residential sales declined in the first half of 2026 amid high mortgage rates and weak buyer confidence. If this persists, revenue from the core segment could remain under pressure 23.
- Growth in commercial worktailwind
Same branch commercial sales rose 10.4% in the second quarter of 2026, and large long-duration projects provide visibility. Growth in this segment could offset residential weakness 23.
- Acquisitions and integrationmixed
The company aims to acquire at least 100 million USD of annual revenue in 2026 and has already added deals in May and July 2026. Successful integration could support growth, but goodwill impairment risk remains 13.
- Cost pressureheadwind
Fuel, insurance and labour costs reduced gross margin in the second quarter of 2026. If these costs cannot be passed on to customers through pricing, margins could decline further 3.
Competitive position
The building products installation industry is fragmented, with national, regional and local competitors. Competitors may offer lower prices or stronger builder relationships, which limits the company's ability to pass on price increases 1.
The company differentiates itself through national scale combined with local presence, product diversification and a variable cost structure. These advantages could erode if competitors adopt technological innovations faster 1.
- National, regional and local installers
The source does not name specific competitors; competition comes from fragmented firms that may offer lower prices or stronger builder relationships 1.
- Insulation material suppliers and manufacturers
Not named in the sources; they exert pricing pressure since the company buys directly from manufacturers 1.
- Large homebuilders negotiating prices
Large builders may press suppliers on prices, limiting pass-through of cost increases 1.
- Companies using artificial intelligence
The source notes competitors could use artificial intelligence to develop new products or make internal operations more efficient 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Installed Building Products (IBP) Grows Revenue While Margins Quietly SlipYahoo Finance — News · 05 Sept 2026 · EN
The latest news item in our archive is from 05 Sept 2026; the newest SEC filing is from 27 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report27 Oct 2026Material agreement · Creation of a direct financial obligation · Regulation FD disclosure · Financial statements and exhibits
- Current report19 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Current report01 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report20 May 2026Shareholder vote
- Current report19 May 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement08 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Installed Building Products, Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Installed Building Products, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Installed Building Products, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.