Installed Building Products (IBP) FY2018 results: revenue $1.3 billion, up 18.0% on the year
Installed Building Products, Inc. (IBP) reported revenue of $1.3 billion for fiscal 2018, the year ended 31 December 2018, up 18.0% on the year before. Net income was $55 million, up 33.1%, and diluted earnings per share $1.75. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$1.3 billion
+18.0% on the year
FY2012FY2018
Operating margin
7.0%
6.6% a year earlier
FY2012FY2018
Net income
$55 million
+33.1% on the year
FY2012FY2018
Diluted EPS
$1.75
+34.6% on the year
FY2012FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,336
1,133
863
+18.0%
Cost of revenue
965
809
611
+19.3%
Gross profit
372
324
252
+14.7%
Gross margin
27.8%
28.6%
29.3%
Operating income
93.2
74.3
66.0
+25.5%
Operating margin
7.0%
6.6%
7.7%
Interest expense
20.5
17.4
6.2
+17.9%
Pre-tax income
72.2
55.8
59.6
+29.3%
Income tax
17.4
14.7
21.2
+18.8%
Effective tax rate
24.2%
26.3%
35.5%
Net income
54.7
41.1
38.4
+33.1%
Net margin
4.1%
3.6%
4.5%
Diluted EPS
$1.75
$1.30
$1.23
+34.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
96.6
68.8
73.3
+40.5%
Capital expenditure
35.2
31.7
27.0
+11.3%
Free cash flow
61.4
37.1
46.3
+65.5%
Free cash flow margin
4.6%
3.3%
5.4%
Cash from investing
-74.1
-200
-79.6
Cash from financing
5.4
180
14.0
-97.0%
Depreciation and amortisation
33.3
28.3
23.6
+17.8%
Share-based compensation
7.8
6.6
1.9
+18.9%
Buybacks
89.4
n/a
n/a
Diluted shares, weighted
31m
32m
31m
-1.7%
Shares outstanding at period end
30m
32m
31m
-6.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
182
211
154
-13.3%
Debt
455
348
151
+30.9%
Finance lease liabilities
3.8
n/a
n/a
Other liabilities
194
181
157
+7.1%
Total liabilities and equity
835
739
462
+13.0%
Fixed assets
90.1
81.1
67.8
+11.2%
Goodwill
173
155
107
+11.3%
Intangible assets
150
138
86.3
+8.6%
Investments
10.1
30.1
n/a
-66.5%
Cash and equivalents
90.4
62.5
14.5
+44.7%
Receivables
214
181
128
+18.5%
Inventory
61.2
48.3
40.2
+26.5%
Other assets
45.9
42.6
17.7
+7.8%
Total assets
835
739
462
+13.0%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.