Installed Building Products (IBP) FY2023 results: revenue $2.8 billion, up 4.1% on the year
Installed Building Products, Inc. (IBP) reported revenue of $2.8 billion for fiscal 2023, the year ended 31 December 2023, up 4.1% on the year before. Net income was $244 million, up 9.1%, and diluted earnings per share $8.61. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$2.8 billion
+4.1% on the year
FY2016FY2023
Operating margin
13.3%
12.9% a year earlier
FY2016FY2023
Net income
$244 million
+9.1% on the year
FY2016FY2023
Diluted EPS
$8.61
+11.2% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
340
278
138
+22.4%
Capital expenditure
61.6
45.6
37.0
+35.0%
Free cash flow
279
232
101
+20.0%
Free cash flow margin
10.0%
8.7%
5.1%
Cash from investing
-103
-159
-278
Cash from financing
-79.9
-223
242
Depreciation and amortisation
49.2
44.4
40.9
+10.8%
Share-based compensation
15.9
13.8
13.8
+15.1%
Buybacks
6.3
138
0.0
-95.4%
Dividends paid
63.1
62.7
35.3
+0.7%
Dividend per share
$2.22
$2.16
$1.20
+2.8%
Diluted shares, weighted
28m
29m
30m
-2.0%
Shares outstanding at period end
28m
28m
30m
+0.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
670
493
417
+35.8%
Debt
867
861
863
+0.7%
Operating lease liabilities
49.9
49.8
46.1
+0.2%
Finance lease liabilities
6.6
6.4
3.3
+3.2%
Other liabilities
387
368
324
+5.2%
Total liabilities and equity
1,981
1,779
1,653
+11.4%
Goodwill
399
374
323
+6.8%
Intangible assets
269
283
264
-5.2%
Investments
n/a
n/a
0.0
Cash and equivalents
386
230
333
+68.3%
Receivables
423
397
313
+6.6%
Inventory
163
177
143
-7.8%
Other assets
341
318
277
+7.2%
Total assets
1,981
1,779
1,653
+11.4%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.