Installed Building Products (IBP) FY2020 results: revenue $1.7 billion, up 9.4% on the year
Installed Building Products, Inc. (IBP) reported revenue of $1.7 billion for fiscal 2020, the year ended 31 December 2020, up 9.4% on the year before. Net income was $97 million, up 42.7%, and diluted earnings per share $3.27. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$1.7 billion
+9.4% on the year
FY2013FY2020
Operating margin
9.8%
8.0% a year earlier
FY2013FY2020
Net income
$97 million
+42.7% on the year
FY2013FY2020
Diluted EPS
$3.27
+43.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,653
1,512
1,336
+9.4%
Cost of revenue
1,143
1,077
965
+6.2%
Gross profit
510
435
372
+17.3%
Gross margin
30.8%
28.8%
27.8%
Operating income
162
121
93.2
+33.6%
Operating margin
9.8%
8.0%
7.0%
Interest expense
30.3
28.1
20.5
+7.8%
Pre-tax income
131
92.6
72.2
+41.7%
Income tax
33.9
24.4
17.4
+38.8%
Effective tax rate
25.9%
26.4%
24.2%
Net income
97.2
68.2
54.7
+42.7%
Net margin
5.9%
4.5%
4.1%
Diluted EPS
$3.27
$2.28
$1.75
+43.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
181
123
96.6
+46.9%
Capital expenditure
33.6
50.2
35.2
-33.0%
Free cash flow
147
72.9
61.4
+101.9%
Free cash flow margin
8.9%
4.8%
4.6%
Cash from investing
-77.8
-132
-74.1
Cash from financing
-49.4
96.1
5.4
Depreciation and amortisation
39.0
38.9
33.3
+0.4%
Share-based compensation
10.8
8.7
7.8
+24.1%
Buybacks
33.9
0.0
89.4
Dividends paid
0.0
0.0
n/a
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
30m
30m
31m
-0.5%
Shares outstanding at period end
30m
30m
30m
-1.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
319
250
182
+27.7%
Debt
565
569
455
-0.7%
Operating lease liabilities
34.4
29.8
n/a
+15.5%
Finance lease liabilities
2.4
3.6
3.8
-32.4%
Other liabilities
266
247
194
+7.9%
Total liabilities and equity
1,188
1,099
835
+8.0%
Fixed assets
104
106
90.1
-2.2%
Goodwill
217
196
173
+10.8%
Intangible assets
171
154
150
+11.6%
Investments
0.0
38.0
10.1
Cash and equivalents
232
178
90.4
+30.1%
Receivables
267
245
214
+9.0%
Inventory
77.2
74.6
61.2
+3.4%
Other assets
120
109
45.9
+10.3%
Total assets
1,188
1,099
835
+8.0%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.