Installed Building Products

IBP

Residential Construction · Consumer Cyclical

Price

$246.81

+2.20 (+0.90%)

Market Cap

$6.65B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Mixed

Stability

Good

Valuation

Good

Dividends

Mixed

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Share count falling — buybacks

−8.7% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 29.6M (2021) → 27.0M (2025)

Winston Score History

The full picture

Installed Building Products installs insulation in new homes and buildings across the United States. Its main customers are homebuilders — the companies that construct new houses. Beyond insulation, it also installs gutters, garage doors, shower glass, and other finishing products. It is one of the largest installers of insulation in the country.

The company makes money by charging builders for both the materials and the labor to install them. It operates through hundreds of branch locations spread across most U.S. states, giving it broad geographic reach that smaller local competitors struggle to match. Revenue is closely tied to how many new homes are being built, so rising interest rates that slow housing construction are the main risk the business faces.

Politician Trades

8 trades / 12mo

6 Congressional buys and 2 sells on IBP in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-3.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

13.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$395M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Installed Building Products is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

33.3%

Modest — 33.3% gross margin

Profit after running costs

Operating Margin

12.2%

Healthy — 12.2% operating margin

Return on the money invested

ROCE

21.7%

Exceptional — 21.7% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+0.3%

Nearly flat sales (+0.3% YoY)

Profit growth

EPS YoY

+3.3%

Modest earnings growth (+3.3% YoY)

Single-digit earnings growth — steady but not exciting.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

62%

Modest — 62% of profit becomes cash

Spare cash per sale

FCF Margin

1.8%

Thin free cash flow (1.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

1.66

Elevated debt (1.66)

Covers its interest

Interest Cover

10.27x

Comfortably covers interest (10.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

26.4x

Growth-priced — P/E 26.4

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+3.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (26.4 → 22.8)

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Dividends

Dividend

Dividend Yield

1.45%

Small dividend — 1.45% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+5.7%

Dividend growing modestly (5.7% YoY)

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