Company Overview - IBP has a national platform of over 250 locations serving all 48 continental states and the District of Columbia[17] - Insulation accounted for 78% of revenue in 2015, decreasing to 60% in 2024, while new single-family homes accounted for 75% of the end-market revenue in 2015, decreasing to 57% in 2024[23] - An established IBP branch generates approximately $4,400 per residential permit, while a developing branch generates approximately $2,200 per residential permit[35] Financial Performance - For the twelve months ended June 30, 2025, net revenue was $2.9559 billion, a 3.4% increase over the prior year period[59] - Adjusted gross profit for the twelve months ended June 30, 2025, was $993.2 million, resulting in an adjusted gross profit margin of 33.6%[59] - Adjusted EBITDA for the twelve months ended June 30, 2025, was $500.7 million, with an adjusted EBITDA margin of 16.9%[59] - Free cash flow for the twelve months ended June 30, 2025, was $276.8 million[91] - As of June 30, 2025, net debt was $578 million, with a net debt to adjusted EBITDA ratio of 1.15x[71] Capital Allocation - From 2020 to 2024, IBP allocated $579 million (50%) to acquisitions, $246 million (21%) to share repurchases, and $323 million (28%) to dividends[47]

Company Overview - Installed Building Products (IBP) operates a national platform of over 250 locations serving 48 continental states and the District of Columbia[17] - IBP's revenue diversification shows insulation accounting for 78% of revenue in 2015, decreasing to 60% in 2024, while new single-family revenue decreased from 75% to 57% in the same period[23] - Established IBP branches generate approximately $4,400 per residential permit, while developing branches generate around $2,200 per permit[35] Financial Performance - IBP's net revenue for the last twelve months ended March 31, 2025, was $29332 million, with a net revenue growth of 43%[60] - The adjusted gross profit for the last twelve months ended March 31, 2025, was $9848 million, resulting in an adjusted gross profit margin of 336%[60] - Adjusted EBITDA for the last twelve months ended March 31, 2025, reached $4965 million, yielding an adjusted EBITDA margin of 169%[60] - IBP's target leverage ratio is less than 200x, with a ratio of 117x as of March 31, 2025[45] Capital Allocation - From 2020 to 2024, IBP allocated $579 million (50%) to acquisitions, $246 million (21%) to share repurchases, and $323 million (28%) to dividends, totaling $115 billion[48] Acquisition Strategy - IBP targets >$100M of acquired revenue annually[56]

Company Overview - IBP has a national platform of over 250 locations serving all 48 continental states and the District of Columbia[16] - In 2024, Insulation accounted for 60% of revenue, while New Single Family represented 57% of the end-market revenue[18] - The company has generated over $1 billion in free cash flow in five years[25] - From 2020 to 2024, IBP allocated $579 million (50%) to acquisitions, $246 million (21%) to share repurchases, and $323 million (28%) to dividends[33] - An established IBP branch generates ~$4,400 per residential permit, while a developing branch generates ~$2,200 per residential permit[43] Financial Performance - IBP's residential sales per completion more than doubled from $555 in 2015 to $1,308 in 2024[55] - Net revenue increased from $16532 million in 2020 to $29413 million in 2024, a 59% growth[57] - Adjusted EBITDA increased from $2456 million in 2020 to $5114 million in 2024[57] - Net Debt / Adjusted EBITDA was 108x as of December 31, 2024[69] - Adjusted Gross Profit margin was 338% in 2024[57]