F

Installed Building Products, In — Earnings Quality Grade F

IBP · Consumer Cyclical

Major red flags

Revenue
$3.0B
2025
Net Income
$265M
2025
Gross Margin
34.0%
Free Cash Flow
$301M
01

Screening Summary

15
Passed
0
Watch
2
Failed
-2.7
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 55 days, change +1 days YoY

A2AR vs Revenue Growth

AR growth 2.4% vs revenue growth 1.0%

A3Revenue vs CFFO

Revenue 1.0%, CFFO 9.2%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory 4.3% vs COGS 0.8%. Normal

B2CapEx vs Revenue

CapEx growth -20.3% vs revenue 1.0%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 57.6%. Normal

B4Gross Margin

Gross margin 34.0%, change +0.2pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.40. Profits backed by cash

C2Free Cash Flow

FCF $0.3B, FCF/NI = 1.13

C3Accruals Ratio

Accruals ratio = -5.1%. Low accruals

C4Cash vs Debt

Cash $0.3B covers only 32% of debt $1.0B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.7B = 100% of equity. Over 50%

D2Leverage

Debt/EBITDA = 1.9x. Healthy

D3Soft Asset Growth

Other assets 0.0% vs revenue 1.0%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 1% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.70 (< -2.22). Unlikely manipulator

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04

Beneish M-Score

Manipulation Probability-2.7
-4.0 Clean-2.22 Grey-1.78 Danger0
1.013
DSRI
AR growing faster than revenue?
0.995
GMI
Gross margin declining?
1.008
AQI
Asset quality deteriorating?
1.01
SGI
Revenue growth rate
0.979
DEPI
Depreciation slowing?
1.02
SGAI
SG&A ratio changing?
-0.0513
TATA
Accruals level
0.99
LVGI
Leverage increasing?
05

Altman Z-Score

5.67
Safe Zone
0 Distress1.102.605.0+ Safe
0.3377
Liquidity
0.5045
Cumulative profit
0.188
Operating efficiency
0.5227
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25