Installed Building Products (IBP) FY2019 results: revenue $1.5 billion, up 13.1% on the year
Installed Building Products, Inc. (IBP) reported revenue of $1.5 billion for fiscal 2019, the year ended 31 December 2019, up 13.1% on the year before. Net income was $68 million, up 24.5%, and diluted earnings per share $2.28. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$1.5 billion
+13.1% on the year
FY2012FY2019
Operating margin
8.0%
7.0% a year earlier
FY2012FY2019
Net income
$68 million
+24.5% on the year
FY2012FY2019
Diluted EPS
$2.28
+30.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,512
1,336
1,133
+13.1%
Cost of revenue
1,077
965
809
+11.6%
Gross profit
435
372
324
+17.0%
Gross margin
28.8%
27.8%
28.6%
Operating income
121
93.2
74.3
+30.0%
Operating margin
8.0%
7.0%
6.6%
Interest expense
28.1
20.5
17.4
+37.1%
Pre-tax income
92.6
72.2
55.8
+28.3%
Income tax
24.4
17.4
14.7
+40.2%
Effective tax rate
26.4%
24.2%
26.3%
Net income
68.2
54.7
41.1
+24.5%
Net margin
4.5%
4.1%
3.6%
Diluted EPS
$2.28
$1.75
$1.30
+30.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
123
96.6
68.8
+27.4%
Capital expenditure
50.2
35.2
31.7
+42.4%
Free cash flow
72.9
61.4
37.1
+18.7%
Free cash flow margin
4.8%
4.6%
3.3%
Cash from investing
-132
-74.1
-200
Cash from financing
96.1
5.4
180
+1,690.5%
Depreciation and amortisation
38.9
33.3
28.3
+16.7%
Share-based compensation
8.7
7.8
6.6
+11.3%
Buybacks
0.0
89.4
n/a
Dividends paid
0.0
n/a
n/a
Dividend per share
$0.00
n/a
n/a
Diluted shares, weighted
30m
31m
32m
-4.3%
Shares outstanding at period end
30m
30m
32m
+0.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
250
182
211
+37.0%
Debt
569
455
348
+25.1%
Operating lease liabilities
29.8
n/a
n/a
Finance lease liabilities
3.6
3.8
n/a
-5.9%
Other liabilities
247
194
181
+27.6%
Total liabilities and equity
1,099
835
739
+31.7%
Fixed assets
106
90.1
81.1
+18.1%
Goodwill
196
173
155
+13.1%
Intangible assets
154
150
138
+2.5%
Investments
38.0
10.1
30.1
+277.3%
Cash and equivalents
178
90.4
62.5
+96.7%
Receivables
245
214
181
+14.2%
Inventory
74.6
61.2
48.3
+22.0%
Other assets
109
45.9
42.6
+137.1%
Total assets
1,099
835
739
+31.7%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.