Installed Building Products
IBP · Homebuilding
$199.12
0.5%M/I Homes
MHO · Homebuilding
$123.97
0.5%The short version
- M/I Homes is the larger business, with $4.4B of revenue in fiscal 2025 against $3.0B for Installed Building Products.
- Installed Building Products grew revenue faster (1.0%, against −1.9%).
- Installed Building Products kept more of each dollar of sales as operating profit (13.0% operating margin, against 11.5% operating margin).
- Installed Building Products turned more of its sales into free cash flow (10.1% FCF margin, against 2.9% FCF margin).
- Investors pay more for each dollar of Installed Building Products’s earnings: a P/E of 21.5x against 11.8x for M/I Homes.
| Latest fiscal year | IBP · FY25 | MHO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.3B | $3.2B |
| Revenue | $3.0B | $4.4B |
| Free cash flow | $301M | $128M |
| Net income | $265M | $403M |
| Growth | ||
| Revenue growth | 1.0% | −1.9% |
| 5-year growth | 12.4% | 7.7% |
| Share count change | −3.1% | −4.4% |
| Profitability | ||
| Gross margin | 34.0% | 23.0% |
| Operating margin | 13.0% | 11.5% |
| Net margin | 8.9% | 9.1% |
| FCF margin | 10.1% | 2.9% |
| Return on capital | 22.6% | — |
| Return on equity | 37.5% | 13.2% |
| Balance sheet | ||
| Net debt | $571M | — |
| Net debt / EBITDA | 1.3x | — |
| Dividends and buybacks | $260M | $202M |
| Valuation & quality | ||
| P/E | 21.5x | 11.8x |
| Piotroski F-score | 7 | — |
FY16
IBP $863M
MHO $1.7B
FY17
IBP $1.1B
MHO $2.0B
FY18
IBP $1.3B
MHO $2.3B
FY19
IBP $1.5B
MHO $2.5B
FY20
IBP $1.7B
MHO $3.0B
FY21
IBP $2.0B
MHO $3.7B
FY22
IBP $2.7B
MHO $4.1B
FY23
IBP $2.8B
MHO $4.0B
FY24
IBP $2.9B
MHO $4.5B
FY25
IBP $3.0B
MHO $4.4B
IBP
MHO
FY16
IBP 7.7%
MHO 6.4%
FY17
IBP 6.6%
MHO 7.1%
FY18
IBP 7.0%
MHO 7.1%
FY19
IBP 8.0%
MHO 7.5%
FY20
IBP 9.8%
MHO 10.5%
FY21
IBP 9.5%
MHO 13.8%
FY22
IBP 12.9%
MHO 15.4%
FY23
IBP 13.3%
MHO 14.6%
FY24
IBP 13.0%
MHO 15.7%
FY25
IBP 13.0%
MHO 11.5%
IBP
MHO
FY16
IBP $46.3M
MHO $21.1M
FY17
IBP $37.1M
MHO −$62.0M
FY18
IBP $61.4M
MHO −$10.7M
FY19
IBP $72.9M
MHO $61.1M
FY20
IBP $147M
MHO $157M
FY21
IBP $101M
MHO −$42.1M
FY22
IBP $232M
MHO $175M
FY23
IBP $279M
MHO $546M
FY24
IBP $251M
MHO $171M
FY25
IBP $301M
MHO $128M
IBP
MHO
FY16
IBP 16.3%
MHO —
FY17
IBP 14.5%
MHO —
FY18
IBP 14.0%
MHO —
FY19
IBP 15.4%
MHO —
FY20
IBP 18.9%
MHO —
FY21
IBP 17.9%
MHO —
FY22
IBP 24.4%
MHO —
FY23
IBP 23.5%
MHO —
FY24
IBP 23.4%
MHO —
FY25
IBP 22.6%
MHO —
IBP
MHO
Add another company
Compare up to four at once.
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.