Installed Building Products (IBP)
Market Price (10/15/2026): $180.3 | Market Cap: $4.8 BilSector: Consumer Discretionary | Industry: Homebuilding
Installed Building Products (IBP)
Market Price (10/15/2026): $180.3Market Cap: $4.8 BilSector: Consumer DiscretionaryIndustry: Homebuilding
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.3%, FCF Yield is 6.1% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -33% Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, Sustainable Resource Management, and Electrification of Everything. Themes include Energy Efficient Building Materials, Show more. | Weak multi-year price returns2Y Excs Rtn is -57%, 3Y Excs Rtn is -24% | Key risksIBP key risks include [1] its vulnerability to a company-anticipated decline in 2025 housing starts and [2] an inability to pass rising labor and material costs to customers due to intense competition. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.3%, FCF Yield is 6.1% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -33% |
| Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, Sustainable Resource Management, and Electrification of Everything. Themes include Energy Efficient Building Materials, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -57%, 3Y Excs Rtn is -24% |
| Key risksIBP key risks include [1] its vulnerability to a company-anticipated decline in 2025 housing starts and [2] an inability to pass rising labor and material costs to customers due to intense competition. |
Qualitative Assessment
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Updated on 10/14/2026
Installed Building Products (IBP) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Macroeconomic headwinds significantly impacted the building products sector during fiscal Q3 2026, primarily driven by surging interest rates and a subdued housing market. The Federal Reserve raised its key interest rate by 0.25% in September 2026 to a range of 3.75% to 4.00%, the first increase in three years. This contributed to the average 30-year mortgage rate climbing from 6.43% in early July to 7.03% by September 24th, its highest level since January 2025. Consequently, the U.S. housing market remained subdued with historically depressed transaction volumes. Existing home sales were down 1.2% year-over-year, and the Q3 2026 forecast for nationwide home price appreciation was projected at only 1% over the next 12 months. This challenging environment directly affected demand for Installed Building Products' services.
2. Despite beating analyst estimates in its fiscal Q2 2026 earnings report on August 6, 2026, underlying operational metrics revealed weakening performance. Installed Building Products reported adjusted EPS of $2.91, exceeding estimates of $2.55, and revenue of $777.80 million, surpassing forecasts of $743.33 million and representing a 2.3% year-over-year increase. However, net income decreased to $64.9 million from $77.8 million in the prior year quarter. Adjusted EBITDA declined 2.3% to $130.9 million, and the adjusted EBITDA margin compressed to 16.9% from 17.6% in the prior year period. Installation revenue, a core segment, decreased 0.7% to $710.7 million, and new residential same-branch sales fell 6%. Gross margin also compressed to 33.3% from 34.2% year-over-year due to a shift towards lower-margin products.
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Installed Building Products (IBP) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Macroeconomic headwinds significantly impacted the building products sector during fiscal Q3 2026, primarily driven by surging interest rates and a subdued housing market. The Federal Reserve raised its key interest rate by 0.25% in September 2026 to a range of 3.75% to 4.00%, the first increase in three years. This contributed to the average 30-year mortgage rate climbing from 6.43% in early July to 7.03% by September 24th, its highest level since January 2025. Consequently, the U.S. housing market remained subdued with historically depressed transaction volumes. Existing home sales were down 1.2% year-over-year, and the Q3 2026 forecast for nationwide home price appreciation was projected at only 1% over the next 12 months. This challenging environment directly affected demand for Installed Building Products' services.
2. Despite beating analyst estimates in its fiscal Q2 2026 earnings report on August 6, 2026, underlying operational metrics revealed weakening performance. Installed Building Products reported adjusted EPS of $2.91, exceeding estimates of $2.55, and revenue of $777.80 million, surpassing forecasts of $743.33 million and representing a 2.3% year-over-year increase. However, net income decreased to $64.9 million from $77.8 million in the prior year quarter. Adjusted EBITDA declined 2.3% to $130.9 million, and the adjusted EBITDA margin compressed to 16.9% from 17.6% in the prior year period. Installation revenue, a core segment, decreased 0.7% to $710.7 million, and new residential same-branch sales fell 6%. Gross margin also compressed to 33.3% from 34.2% year-over-year due to a shift towards lower-margin products.
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Updated on 10/14/2026
Installed Building Products (IBP) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Macroeconomic headwinds significantly impacted the building products sector during fiscal Q3 2026, primarily driven by surging interest rates and a subdued housing market. The Federal Reserve raised its key interest rate by 0.25% in September 2026 to a range of 3.75% to 4.00%, the first increase in three years. This contributed to the average 30-year mortgage rate climbing from 6.43% in early July to 7.03% by September 24th, its highest level since January 2025. Consequently, the U.S. housing market remained subdued with historically depressed transaction volumes. Existing home sales were down 1.2% year-over-year, and the Q3 2026 forecast for nationwide home price appreciation was projected at only 1% over the next 12 months. This challenging environment directly affected demand for Installed Building Products' services.
2. Despite beating analyst estimates in its fiscal Q2 2026 earnings report on August 6, 2026, underlying operational metrics revealed weakening performance. Installed Building Products reported adjusted EPS of $2.91, exceeding estimates of $2.55, and revenue of $777.80 million, surpassing forecasts of $743.33 million and representing a 2.3% year-over-year increase. However, net income decreased to $64.9 million from $77.8 million in the prior year quarter. Adjusted EBITDA declined 2.3% to $130.9 million, and the adjusted EBITDA margin compressed to 16.9% from 17.6% in the prior year period. Installation revenue, a core segment, decreased 0.7% to $710.7 million, and new residential same-branch sales fell 6%. Gross margin also compressed to 33.3% from 34.2% year-over-year due to a shift towards lower-margin products.
3. Analyst sentiment deteriorated significantly, leading to multiple downgrades and price target reductions for IBP during the period. Following the Q2 2026 results and in light of the challenging market conditions, analyst sentiment became "largely cautious," with a consensus "Hold" rating from 14 analysts and an average price target of $234.50. Notably, Zacks Research downgraded IBP from a "strong-buy" to a "hold" rating on October 14, 2026. Other significant adjustments included Truist Financial reducing its price objective from $200.00 to $160.00 on October 8, 2026, and The Goldman Sachs Group dropping its price objective from $297.00 to $257.00 on October 12, 2026. These revisions reflected concerns over the company's outlook amidst the broader market pressures.
Show less
Installed Building Products (IBP) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Macroeconomic headwinds significantly impacted the building products sector during fiscal Q3 2026, primarily driven by surging interest rates and a subdued housing market. The Federal Reserve raised its key interest rate by 0.25% in September 2026 to a range of 3.75% to 4.00%, the first increase in three years. This contributed to the average 30-year mortgage rate climbing from 6.43% in early July to 7.03% by September 24th, its highest level since January 2025. Consequently, the U.S. housing market remained subdued with historically depressed transaction volumes. Existing home sales were down 1.2% year-over-year, and the Q3 2026 forecast for nationwide home price appreciation was projected at only 1% over the next 12 months. This challenging environment directly affected demand for Installed Building Products' services.
2. Despite beating analyst estimates in its fiscal Q2 2026 earnings report on August 6, 2026, underlying operational metrics revealed weakening performance. Installed Building Products reported adjusted EPS of $2.91, exceeding estimates of $2.55, and revenue of $777.80 million, surpassing forecasts of $743.33 million and representing a 2.3% year-over-year increase. However, net income decreased to $64.9 million from $77.8 million in the prior year quarter. Adjusted EBITDA declined 2.3% to $130.9 million, and the adjusted EBITDA margin compressed to 16.9% from 17.6% in the prior year period. Installation revenue, a core segment, decreased 0.7% to $710.7 million, and new residential same-branch sales fell 6%. Gross margin also compressed to 33.3% from 34.2% year-over-year due to a shift towards lower-margin products.
3. Analyst sentiment deteriorated significantly, leading to multiple downgrades and price target reductions for IBP during the period. Following the Q2 2026 results and in light of the challenging market conditions, analyst sentiment became "largely cautious," with a consensus "Hold" rating from 14 analysts and an average price target of $234.50. Notably, Zacks Research downgraded IBP from a "strong-buy" to a "hold" rating on October 14, 2026. Other significant adjustments included Truist Financial reducing its price objective from $200.00 to $160.00 on October 8, 2026, and The Goldman Sachs Group dropping its price objective from $297.00 to $257.00 on October 12, 2026. These revisions reflected concerns over the company's outlook amidst the broader market pressures.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -21.4% change in IBP stock from 6/30/2026 to 10/14/2026 was primarily driven by a -20.6% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10142026 | Change |
|---|---|---|---|
| Stock Price ($) | 229.39 | 180.33 | -21.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,946 | 2,964 | 0.6% |
| Net Income Margin (%) | 8.6% | 8.5% | -2.2% |
| P/E Multiple | 24.1 | 19.2 | -20.6% |
| Shares Outstanding (Mil) | 27 | 27 | 0.6% |
| Cumulative Contribution | -21.4% |
Market Drivers
6/30/2026 to 10/14/2026| Return | Correlation | |
|---|---|---|
| IBP | -21.4% | |
| Market (SPY) | 3.1% | 42.2% |
| Sector (XLY) | -4.9% | 44.9% |
Fundamental Drivers
The -31.7% change in IBP stock from 3/31/2026 to 10/14/2026 was primarily driven by a -28.4% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10142026 | Change |
|---|---|---|---|
| Stock Price ($) | 264.14 | 180.33 | -31.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,971 | 2,964 | -0.2% |
| Net Income Margin (%) | 8.9% | 8.5% | -5.3% |
| P/E Multiple | 26.8 | 19.2 | -28.4% |
| Shares Outstanding (Mil) | 27 | 27 | 1.0% |
| Cumulative Contribution | -31.7% |
Market Drivers
3/31/2026 to 10/14/2026| Return | Correlation | |
|---|---|---|
| IBP | -31.7% | |
| Market (SPY) | 18.6% | 37.7% |
| Sector (XLY) | 2.5% | 40.4% |
Fundamental Drivers
The -25.9% change in IBP stock from 9/30/2025 to 10/14/2026 was primarily driven by a -28.0% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 10142026 | Change |
|---|---|---|---|
| Stock Price ($) | 243.41 | 180.33 | -25.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,956 | 2,964 | 0.3% |
| Net Income Margin (%) | 8.5% | 8.5% | 0.0% |
| P/E Multiple | 26.6 | 19.2 | -28.0% |
| Shares Outstanding (Mil) | 27 | 27 | 2.6% |
| Cumulative Contribution | -25.9% |
Market Drivers
9/30/2025 to 10/14/2026| Return | Correlation | |
|---|---|---|
| IBP | -25.9% | |
| Market (SPY) | 16.5% | 33.8% |
| Sector (XLY) | -6.4% | 38.5% |
Fundamental Drivers
The 50.9% change in IBP stock from 9/30/2023 to 10/14/2026 was primarily driven by a 36.9% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10142026 | Change |
|---|---|---|---|
| Stock Price ($) | 119.50 | 180.33 | 50.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,757 | 2,964 | 7.5% |
| Net Income Margin (%) | 8.7% | 8.5% | -3.1% |
| P/E Multiple | 14.0 | 19.2 | 36.9% |
| Shares Outstanding (Mil) | 28 | 27 | 5.8% |
| Cumulative Contribution | 50.9% |
Market Drivers
9/30/2023 to 10/14/2026| Return | Correlation | |
|---|---|---|
| IBP | 50.9% | |
| Market (SPY) | 86.2% | 39.9% |
| Sector (XLY) | 41.7% | 44.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IBP Return | 38% | -37% | 118% | -3% | 51% | -27% | 103% |
| Peers Return | 36% | -26% | 78% | -4% | -23% | -16% | 11% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| IBP Win Rate | 75% | 33% | 58% | 50% | 58% | 50% | |
| Peers Win Rate | 53% | 38% | 62% | 57% | 43% | 42% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| IBP Max Drawdown | -24% | -48% | -32% | -35% | -24% | -46% | |
| Peers Max Drawdown | -24% | -40% | -25% | -27% | -40% | -41% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: BLDR, OC, MAS, FBIN, ROCK. See IBP Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/14/2026 (YTD)
How Low Can It Go
| Event | IBP | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -27.7% | -9.5% |
| % Gain to Breakeven | 38.3% | 10.5% |
| Time to Breakeven | 35 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.2% | -24.5% |
| % Gain to Breakeven | 85.7% | 32.4% |
| Time to Breakeven | 366 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -60.8% | -33.7% |
| % Gain to Breakeven | 154.9% | 50.9% |
| Time to Breakeven | 120 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.1% | -19.2% |
| % Gain to Breakeven | 28.3% | 23.8% |
| Time to Breakeven | 35 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -12.9% | -3.7% |
| % Gain to Breakeven | 14.8% | 3.9% |
| Time to Breakeven | 13 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -35.5% | -12.2% |
| % Gain to Breakeven | 54.9% | 13.9% |
| Time to Breakeven | 107 days | 62 days |
In The Past
Installed Building Products's stock fell -8.8% during the 2025 US Tariff Shock. Such a loss loss requires a 9.6% gain to breakeven.
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| Event | IBP | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -27.7% | -9.5% |
| % Gain to Breakeven | 38.3% | 10.5% |
| Time to Breakeven | 35 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.2% | -24.5% |
| % Gain to Breakeven | 85.7% | 32.4% |
| Time to Breakeven | 366 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -60.8% | -33.7% |
| % Gain to Breakeven | 154.9% | 50.9% |
| Time to Breakeven | 120 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.1% | -19.2% |
| % Gain to Breakeven | 28.3% | 23.8% |
| Time to Breakeven | 35 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -35.5% | -12.2% |
| % Gain to Breakeven | 54.9% | 13.9% |
| Time to Breakeven | 107 days | 62 days |
In The Past
Installed Building Products's stock fell -8.8% during the 2025 US Tariff Shock. Such a loss loss requires a 9.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Installed Building Products (IBP)
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Installed Building Products (IBP) is a leading installer of various building products across the continental United States. The company's core business revolves around the installation of diverse insulation materials, including fiberglass, cellulose, and spray foam. These critical insulation services are applied in various areas of structures, such as basements, crawl spaces, building envelopes, attics, and for acoustical purposes, serving both residential and commercial projects.
Beyond its insulation expertise, IBP provides a comprehensive range of additional installation services. This includes sophisticated waterproofing options like sheet and hot applied membranes, deck coatings, and air and vapor systems. The company also specializes in installing fire-stopping and fireproofing materials, caulk and sealant products for air infiltration control, and a variety of finished products such as garage doors, rain gutters, window blinds, shower doors, closet shelving, and mirrors.
IBP serves a broad and diverse customer base through an extensive network of approximately 210 branch locations. Its primary customers include large homebuilders, multi-family and commercial construction firms, individual homeowners, and repair and remodeling contractors. This widespread operational presence and varied client portfolio establish IBP as a significant service provider in the construction and home improvement sectors.
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- IBP is like the Rollins (Orkin) of building product installations, offering a national network of specialized services for everything from insulation to garage doors.
- IBP is like ABM Industries for construction projects, providing a wide range of essential building product installation services rather than facility maintenance.
- IBP is like the ADP of construction installation, providing builders with a comprehensive, outsourced solution for a wide array of specialized product installations, from insulation to window blinds.
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- Insulation Installation: Installation of fiberglass, cellulose, and spray foam insulation materials in various structural areas like basements, attics, and building envelopes.
- Waterproofing Installation: Installation of diverse waterproofing options including sheet, hot-applied membranes, deck coating, bentonite, and air/vapor systems.
- Fire-stopping and Fireproofing Installation: Services for installing materials that prevent the spread of fire and enhance building fire resistance.
- Caulk and Sealant Installation: Installation of caulk and sealant products specifically designed to control air infiltration in buildings.
- Garage Door Installation: Installation services for garage doors.
- Rain Gutter Installation: Installation services for rain gutters.
- Window Blind Installation: Installation services for window blinds.
- Shower Door Installation: Installation services for shower doors.
- Closet Shelving and Mirror Installation: Installation services for closet shelving and mirrors.
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Jeffrey W. Edwards, President, Chief Executive Officer and Chairman
Jeffrey W. Edwards co-founded Installed Building Products (IBP) in 1993, leading its growth from a regional entity to a national force. He guided the company through its Initial Public Offering (IPO) on the New York Stock Exchange in 2014. With over 30 years of experience in the building products industry, Mr. Edwards has also served as an officer and strategist for several family-owned companies. These companies operated across various industries, including multi-family and student housing development and management, industrial tool distribution, wholesale building supply, homebuilding, land and real estate development, and real estate brokerage. He also serves as President of Edwards Companies, a privately held conglomerate involved in real estate development and construction.
Michael T. Miller, Executive Vice President, Chief Financial Officer and Director
Michael T. Miller has been with Installed Building Products since 2000, serving as its most senior financial officer and as Chief Financial Officer since 2013. He has also been a director of the company since 2004 or 2014 depending on the source. Prior to joining IBP, Mr. Miller held senior corporate investment banking roles at Huntington Capital Corp., and worked at Deutsche Bank, Canadian Imperial Bank of Commerce, and First Union National Bank. His experience includes serving on the board and audit committee of BMC Stock Holdings, Inc., a publicly traded diversified building products company.
Brad A. Wheeler, Chief Operating Officer
Brad A. Wheeler serves as the Chief Operating Officer of Installed Building Products. He joined the company in 2002 and has held various leadership roles, including President of the West Region and Executive Vice President of Operations. His background includes experience in operations management within the building products industry.
Jason R. Niswonger, Chief Administrative and Sustainability Officer
Jason R. Niswonger is the Chief Administrative and Sustainability Officer at Installed Building Products. He joined IBP in 2014 and previously served as the company's Chief Financial Officer from 2013 to 2021. His background includes extensive experience in finance and accounting.
W. Jeffrey Hire, President of External Affairs
W. Jeffrey Hire holds the position of President of External Affairs at Installed Building Products. He has been with the company since 2014, and his previous roles include Executive Vice President of National Accounts. His career has focused on sales, marketing, and business development within the building products industry.
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Here are the key risks for Installed Building Products (IBP):
- Dependence on Economic and Housing Market Cycles: Installed Building Products' business is highly sensitive to general economic conditions, particularly the cyclical nature of the construction industry. Factors such as interest rate fluctuations, housing affordability, inflation, and overall economic instability can significantly impact demand for new construction and remodeling projects, which are key drivers of IBP's revenue. The company has recently experienced softness in the residential market and delays in the expected rebound for its multifamily business due to these market conditions.
- Labor and Supply Chain Risks: The company relies on the availability of skilled labor and various building products. Risks include challenges in attracting, training, and retaining qualified employees while controlling labor costs. Additionally, disruptions in the supply chain or increases in the cost of materials could adversely affect IBP's operations and financial performance.
- Intense Competition and Price Sensitivity: The insulation installation and complementary building products market is highly competitive and fragmented, with numerous national, regional, and local players. This intense competition necessitates continuous innovation, maintaining high service standards, and offering competitive pricing to retain and grow its customer base, which can pressure margins.
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Installed Building Products (IBP) operates in several addressable markets across the continental United States. The estimated market sizes for their main products and services are as follows:
- Insulation: The U.S. insulation market was valued at approximately USD 13.52 billion in 2024 and is anticipated to reach USD 14.13 billion in 2025. Other estimates place the U.S. insulation market size at USD 12.92 billion in 2025 or USD 14.2 billion in 2025. The U.S. building insulation market is projected to reach USD 10.88 billion in 2024.
- Waterproofing: The United States waterproofing market size was approximately USD 18.33 billion in 2024 and is projected to reach USD 19.21 billion in 2025. Another source estimates the U.S. waterproofing market to generate USD 14,700.1 million in revenue in 2024.
- Fire-stopping and Fireproofing: The U.S. fire stopping materials market size was USD 480 million in 2024 and is projected to reach around USD 1,170 million by 2034. The U.S. market for fire stopping systems has a current size of approximately USD 0.6 billion. The North America fire stopping materials market size reached USD 580 million in 2023. The global fireproofing materials market was valued at USD 1.1 billion in 2023.
- Garage Doors: The U.S. garage door manufacturing market size was USD 7.2 billion in 2024 and is projected to be USD 7.3 billion in 2025. The North America garage overhead doors market was valued at USD 3.93 billion in 2024 and USD 4.08 billion in 2025. U.S. demand for residential garage and commercial overhead doors is forecast to increase to USD 4.6 billion in 2026.
- Rain Gutters: The U.S. gutter services industry generated USD 778.4 million in revenue in 2025. The North American region is the largest market for rain gutters, accounting for approximately 45% of the global market share. The global rain gutter market grew from USD 8.38 billion in 2024 to USD 8.81 billion in 2025.
- Window Blinds: The United States Blinds Shades Market size is USD 5208.03 million in 2025. The North America blinds and shades market accounted for a share of 39.25% of the global revenue in 2024. The global curtains and window blinds market size was estimated at USD 24.9 billion in 2024 and is expected to grow to USD 26.6 billion in 2025.
- Shower Doors: The U.S. shower glass door market was valued at USD 3.20 billion in 2020 and is estimated to reach USD 4.51 billion by 2026. Another report states the U.S. shower glass door market generated USD 3,188.3 million in 2019 and is expected to rise to USD 6,781.9 million by 2030. The U.S. shower enclosures market was valued at USD 3.80 billion in 2022. The North America Shower Glass Door Market Size was valued at USD 3.91 billion in 2022.
- Closet Shelving and Mirrors: The U.S. home organizers and storage market size is valued at USD 12.05 billion in 2025. The overall market size for the closet organizers market was USD 4,033.3 million in 2025. The U.S. garage organization and storage market size was estimated at USD 3.46 billion in 2024.
- Caulk and Sealant Products: The United States construction adhesives and sealants market size is estimated at USD 3.08 billion in 2024 and is expected to reach USD 3.85 billion by 2028. The U.S. construction silicone sealants market size was estimated at USD 288.1 million in 2025. The global building and construction sealants market size is accounted at USD 11.59 billion in 2025.
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Installed Building Products (IBP) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Strategic Acquisitions: IBP consistently pursues a strategy of acquiring well-managed installers of insulation and complementary building products. The company aims to acquire at least $100 million in annual revenue each year. Recent acquisitions in late 2025 and early 2026 further demonstrate this ongoing growth driver.
- Expansion in Commercial and Multifamily Construction: Despite facing challenges in the single-family new residential market, IBP has experienced strong growth in its commercial and heavy commercial segments. The multifamily sector is also anticipated to rebound in the latter half of 2026, supported by increasing contract backlogs in crucial branches.
- Price/Mix Improvements: The company has demonstrated a consistent ability to achieve favorable price/mix increases, indicating successful pricing strategies and a shift towards higher-value products and services.
- Long-term Industry Tailwinds and Energy Efficiency: Management maintains a positive long-term outlook for its installed services. Additionally, anticipated long-term tailwinds from energy-efficiency legislation are expected to support growth in both the single-family and multifamily segments.
- Geographic Expansion and Product Diversification: Through strategic acquisitions, IBP not only adds to its revenue base but also expands its geographic footprint and diversifies its product and service offerings.
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1. Share Repurchases
- Installed Building Products repurchased 850,000 shares of its common stock at a total cost of $172.6 million during the twelve months ended December 31, 2025.
- The Board of Directors authorized a new stock repurchase program allowing for the repurchase of up to $500 million of outstanding common stock, effective through March 1, 2027.
- In 2024, the company repurchased 565,000 shares for $118 million.
2. Share Issuance
- No significant share issuance events (large dollar amounts by third parties) were identified for the last 3-5 years; shares outstanding have been consistently declining.
3. Inbound Investments
- Installed Building Products successfully repriced its $500 million Term Loan B facility in November 2024, resulting in over $1 million in estimated annual cash interest expense savings.
- In January 2026, the company issued $500 million of 5.625% Senior Unsecured Notes due 2034 and amended and increased its Asset-Based Lending (ABL) revolving credit facility to $375 million.
4. Outbound Investments
- In 2025, Installed Building Products completed 11 acquisitions, including bolt-ons, representing over $64 million of annual revenue.
- The company aims to acquire at least $100 million of annual revenue in 2026.
- In 2024, Installed Building Products completed nine acquisitions, boosting revenue potential.
5. Capital Expenditures
- Capital expenditures are estimated to be approximately 2% of revenue.
- Discretionary spending for capital improvements is anticipated to approximate 2025 levels in 2026.
Peer Outperformance in Homebuilding
IBP has outperformed 65% of its 17 Homebuilding peers over 5Y. Among the peers that beat it are GRBK, PHM and TOL. Homebuilding ranks 2nd of 23 industries in Consumer Discretionary by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Homebuilding constituents that IBP has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
24%
of 17 industry peers · -20.6% return
3Y
88%
of 17 industry peers · 67.4% return
5Y
65%
of 17 industry peers · 87.4% return
Homebuilding peers with revenue growth within 4pp of IBP's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| IBP | Installed Building Products | 2.5% | 20.0x | -20.6% | 67.4% | 87.4% | — |
| GRBK | Green Brick Partners | 4.1% | 9.1x | -1.8% | 53.4% | 182.9% | +96pp |
| PHM | PulteGroup | -0.5% | 11.1x | -6.6% | 56.7% | 144.8% | +57pp |
| TOL | Toll Brothers | 0.2% | 10.4x | 4.7% | 89.3% | 140.5% | +53pp |
| CVCO | Cavco Industries | 4.9% | 22.5x | 7.2% | 101.8% | 128.1% | +41pp |
| MHO | M/I Homes | 0.3% | 10.2x | -2.9% | 57.2% | 114.7% | +27pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Homebuilding is IBP's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -17.3% | 83.1% | 86.7% | CVSA 263% · PRDO 237% · LRN 146% |
| Homebuilding ← | 18 | -4.7% | 32.5% | 46.0% | GRBK 183% · PHM 145% · TOL 140% |
| Specialty Stores | 7 | 9.7% | 37.8% | 17.7% | ASO 40% · DKS 29% · FIVE 18% |
| Hotels, Resorts & Cruise Lines | 21 | 9.7% | 36.6% | 13.7% | RCL 236% · MAR 151% · LIND 142% |
| Home Furnishings | 3 | -4.3% | 47.1% | 1.4% | SGI 50% · MHK -34% |
| Home Improvement Retail | 5 | -20.3% | 2.4% | -2.0% | HD -1% · LOW -2% · FND -62% |
| Footwear | 9 | 69.5% | 49.8% | -11.3% | DECK 45% · SHOO 19% · CROX -11% |
| Automotive Retail | 18 | -15.4% | 3.5% | -11.4% | MUSA 229% · PAG 119% · ORLY 111% |
| Specialized Consumer Services | 10 | -12.0% | 15.0% | -14.3% | HRB 110% · FTDR 86% · SCI 38% |
| Distributors | 4 | -8.8% | -26.5% | -15.4% | ARMK 116% · GPC 22% · LKQ -52% |
| Restaurants | 36 | -8.9% | -8.2% | -18.5% | EAT 321% · CAKE 188% · TXRH 100% |
| Apparel Retail | 26 | 0.5% | 17.4% | -39.9% | ANF 303% · TJX 140% · ROST 124% |
| Leisure Facilities | 12 | 6.5% | -8.0% | -40.7% | OSW 130% · LTH 128% · PLNT -40% |
| Household Appliances | 18 | 3.3% | 1.7% | -40.7% | |
| Computer & Electronics Retail | 3 | 15.4% | 46.5% | -40.8% | BBY 0% · GME -41% |
| Leisure Products | 14 | -17.8% | -16.9% | -44.8% | GOLF 84% · HAS 33% · MAT -12% |
| Automotive Parts & Equipment | 39 | -7.6% | -20.0% | -46.5% | MOD 1343% · GTX 258% · BWA 57% |
| Broadline Retail | 14 | -5.4% | 25.5% | -48.5% | EBAY 70% · AMZN 57% · OLLI 39% |
| Casinos & Gaming | 20 | -7.9% | -23.6% | -49.4% | MCRI 95% · RRR 15% · BYD 10% |
| Apparel, Accessories & Luxury Goods | 29 | 2.1% | 18.9% | -49.5% | RL 254% · TPR 241% · KTB 67% |
| Consumer Electronics | 11 | -22.5% | -25.3% | -76.5% | GRMN 98% · SONO -44% |
| Other Specialty Retail | 17 | -31.9% | -37.6% | -78.3% | ULTA 46% · TSCO -5% · BBWI -68% |
| Automobile Manufacturers | 8 | -73.1% | -54.8% | -79.0% | GM 52% · TSLA 39% · F 6% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 60.09 |
| Mkt Cap | 5.1 |
| Rev LTM | 6,006 |
| Op Inc LTM | 521 |
| FCF LTM | 520 |
| FCF 3Y Avg | 710 |
| CFO LTM | 697 |
| CFO 3Y Avg | 877 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.4% |
| Rev Chg 3Y Avg | 0.8% |
| Rev Chg Q | -1.3% |
| QoQ Delta Rev Chg LTM | -0.3% |
| Op Inc Chg LTM | -17.4% |
| Op Inc Chg 3Y Avg | -4.8% |
| Op Mgn LTM | 12.4% |
| Op Mgn 3Y Avg | 13.8% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 11.7% |
| CFO/Rev 3Y Avg | 12.9% |
| FCF/Rev LTM | 9.1% |
| FCF/Rev 3Y Avg | 10.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 5.1 |
| P/S | 1.0 |
| P/Op Inc | 10.1 |
| P/EBIT | 12.7 |
| P/E | 17.4 |
| P/CFO | 10.1 |
| Total Yield | 3.9% |
| Dividend Yield | 1.9% |
| FCF Yield 3Y Avg | 6.6% |
| D/E | 0.6 |
| Net D/E | 0.6 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -11.8% |
| 3M Rtn | -21.5% |
| 6M Rtn | -3.9% |
| 12M Rtn | -24.5% |
| 3Y Rtn | -19.3% |
| 1M Excs Rtn | -14.5% |
| 3M Excs Rtn | -26.6% |
| 6M Excs Rtn | -15.0% |
| 12M Excs Rtn | -38.0% |
| 3Y Excs Rtn | -101.6% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $180.33 | |
| Market Cap ($ Bil) | 4.8 | |
| First Trading Date | 02/13/2014 | |
| Distance from 52W High | -47.0% | |
| 50 Days | 200 Days | |
| DMA Price | $217.66 | $250.89 |
| DMA Trend | down | down |
| Distance from DMA | -17.2% | -28.1% |
| 3M | 1YR | |
| Volatility | 41.2% | 52.1% |
| Downside Capture | 285.56 | 186.47 |
| Upside Capture | 102.25 | 122.79 |
| Correlation (S&P 500) | 40.1% | 35.0% |
IBP Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.52 | 2.10 | 1.60 | 1.79 | 1.35 | 1.26 |
| Up Beta | 0.52 | 1.54 | -0.02 | 1.86 | 1.53 | 1.37 |
| Down Beta | 6.55 | 4.78 | 2.67 | 1.53 | 1.14 | 0.76 |
| Up Capture | 126% | 143% | 148% | 128% | 119% | 298% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 7 | 19 | 29 | 62 | 115 | 377 |
| Down Capture | 434% | 288% | 237% | 224% | 138% | 109% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 15 | 23 | 35 | 64 | 136 | 374 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IBP | |
|---|---|---|---|---|
| IBP | -24.0% | 52.1% | -0.34 | - |
| Sector ETF (XLY) | -4.1% | 19.1% | -0.35 | 38.9% |
| Equity (SPY) | 17.1% | 12.7% | 0.96 | 34.4% |
| Gold (GLD) | -0.6% | 29.4% | -0.02 | 20.1% |
| Commodities (DBC) | 49.3% | 20.7% | 1.82 | -27.8% |
| Real Estate (VNQ) | 5.7% | 13.7% | 0.15 | 40.3% |
| Bitcoin (BTCUSD) | -27.9% | 43.7% | -0.63 | 12.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IBP | |
|---|---|---|---|---|
| IBP | 13.1% | 46.4% | 0.42 | - |
| Sector ETF (XLY) | 5.1% | 24.1% | 0.17 | 51.0% |
| Equity (SPY) | 13.6% | 17.1% | 0.60 | 48.0% |
| Gold (GLD) | 17.9% | 18.9% | 0.76 | 13.1% |
| Commodities (DBC) | 10.0% | 19.5% | 0.39 | -1.8% |
| Real Estate (VNQ) | 1.2% | 18.8% | -0.05 | 50.3% |
| Bitcoin (BTCUSD) | 8.5% | 51.8% | 0.34 | 20.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IBP | |
|---|---|---|---|---|
| IBP | 18.8% | 49.1% | 0.54 | - |
| Sector ETF (XLY) | 12.0% | 22.2% | 0.49 | 54.9% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 53.5% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 10.8% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 11.5% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 52.8% |
| Bitcoin (BTCUSD) | 63.5% | 66.2% | 1.03 | 16.1% |
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Returns Analyses
Earnings Returns History
Updated 9/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 0.2% | 0.6% | -1.6% |
| 5/7/2026 | -27.6% | -31.1% | -34.0% |
| 2/26/2026 | 7.1% | 9.1% | -11.2% |
| 11/5/2025 | 3.3% | 9.0% | 12.7% |
| 8/7/2025 | 20.5% | 28.7% | 29.4% |
| 5/8/2025 | -0.9% | -0.6% | 0.5% |
| 2/27/2025 | -1.1% | 0.3% | 1.4% |
| 11/7/2024 | -4.6% | -8.8% | -5.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 10 |
| # Negative | 13 | 11 | 14 |
| Median Positive | 3.3% | 7.1% | 11.6% |
| Median Negative | -2.3% | -7.3% | -9.3% |
| Max Positive | 20.5% | 28.7% | 30.8% |
| Max Negative | -27.6% | -31.1% | -34.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 0.2% | 0.6% | -1.6% |
| 5/7/2026 | -27.6% | -31.1% | -34.0% |
| 2/26/2026 | 7.1% | 9.1% | -11.2% |
| 11/5/2025 | 3.3% | 9.0% | 12.7% |
| 8/7/2025 | 20.5% | 28.7% | 29.4% |
| 5/8/2025 | -0.9% | -0.6% | 0.5% |
| 2/27/2025 | -1.1% | 0.3% | 1.4% |
| 11/7/2024 | -4.6% | -8.8% | -5.9% |
| 8/1/2024 | -12.7% | -23.2% | -18.6% |
| 5/9/2024 | 2.1% | 0.6% | -9.4% |
| 2/22/2024 | 10.1% | 16.0% | 28.1% |
| 11/8/2023 | -1.5% | 12.9% | 30.8% |
| 8/2/2023 | 2.1% | 4.9% | -3.1% |
| 5/4/2023 | -8.6% | -7.3% | -7.2% |
| 2/22/2023 | 7.3% | 10.7% | 2.8% |
| 11/3/2022 | -2.3% | -1.4% | 10.6% |
| 8/4/2022 | 6.8% | 2.5% | -9.1% |
| 5/5/2022 | 2.3% | -3.4% | 13.8% |
| 2/24/2022 | -0.8% | 6.5% | -6.5% |
| 11/4/2021 | -1.6% | -0.7% | -0.6% |
| 8/5/2021 | 3.3% | 7.1% | 5.2% |
| 5/7/2021 | -7.5% | -12.3% | -13.5% |
| 2/24/2021 | -8.6% | -8.0% | -13.7% |
| 11/5/2020 | -1.7% | -5.7% | -9.9% |
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 10 |
| # Negative | 13 | 11 | 14 |
| Median Positive | 3.3% | 7.1% | 11.6% |
| Median Negative | -2.3% | -7.3% | -9.3% |
| Max Positive | 20.5% | 28.7% | 30.8% |
| Max Negative | -27.6% | -31.1% | -34.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 11/01/2019 | 10-Q |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Acquired Annual Revenue | Reported | 100.00 Mil | ||||||
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Dividends | Reported | 0.39 | ||||||
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Acquired Annual Revenue | Reported | 100.00 Mil | 0 | Same New | Guidance: 100.00 Mil for 2025 | |||
Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Dividends | Reported | 0.37 | 0 | Affirmed | Guidance: 0.37 for Q3 2025 | |||
| 2025 Acquired Revenue | Reported | 100.00 Mil | Lowered | Guidance: 100.00 Mil for 2025 | ||||
Insider Activity
Updated 9/11/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Jackson, Janet E | Direct | Sell | 9082026 | 237.06 | 1,086 | 257,447 | 1,218,963 | Form | |
| 2 | Miller, Michael Thomas | Executive VP & CFO | Direct | Buy | 6152026 | 200.62 | 990 | 198,610 | 6,862,871 | Form |
| 3 | Hilsheimer, Lawrence A | Direct | Buy | 5122026 | 206.22 | 475 | 97,952 | 5,870,529 | Form | |
| 4 | Niswonger, Jason R | Chief Admin. & Sustainability | Direct | Buy | 5122026 | 214.80 | 455 | 97,734 | 3,677,806 | Form |
| 5 | Miller, Michael Thomas | Executive VP & CFO | Direct | Buy | 5122026 | 207.82 | 2,400 | 498,771 | 6,903,615 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Jackson, Janet E | Direct | Sell | 9082026 | 237.06 | 1,086 | 257,447 | 1,218,963 | Form | |
| 2 | Miller, Michael Thomas | Executive VP & CFO | Direct | Buy | 6152026 | 200.62 | 990 | 198,610 | 6,862,871 | Form |
| 3 | Hilsheimer, Lawrence A | Direct | Buy | 5122026 | 206.22 | 475 | 97,952 | 5,870,529 | Form | |
| 4 | Niswonger, Jason R | Chief Admin. & Sustainability | Direct | Buy | 5122026 | 214.80 | 455 | 97,734 | 3,677,806 | Form |
| 5 | Miller, Michael Thomas | Executive VP & CFO | Direct | Buy | 5122026 | 207.82 | 2,400 | 498,771 | 6,903,615 | Form |
| 6 | Wheeler, Brad A | Chief Operating Officer | Direct | Buy | 5122026 | 209.13 | 716 | 149,737 | 3,134,440 | Form |
| 7 | Jackson, Janet E | Direct | Sell | 3112026 | 293.31 | 1,410 | 413,567 | 1,575,955 | Form | |
| 8 | Carter, Margot Lebenberg | Direct | Sell | 3112026 | 299.31 | 2,000 | 598,620 | 2,218,785 | Form | |
| 9 | Edwards, Jeffrey W | President, CEO and Chairman | See footnote | Sell | 3042026 | 314.06 | 400,000 | 125,624,000 | 542,638,835 | Form |
| 10 | Thomas, Michael H | Direct | Sell | 12012025 | 268.28 | 2,001 | 536,832 | 2,246,324 | Form | |
| 11 | Hire, William Jeffrey | President of External Affairs | Direct | Sell | 11102025 | 251.63 | 5,000 | 1,258,143 | 8,303,492 | Form |
Investor Activity (13F)
Updated Oct 15, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Homebuilding Resources |
| Builder Online |
| Professional Builder |
| HousingWire |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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