$Installed Building Products (IBP.US)$Revenue, operating pro...
$Installed Building Products (IBP.US)$Revenue, operating profit, and net income have been growing steadily for 5 years, with average growth rates of 18.7%, 34.7%, and 40.2% respectively. The growth rates in 2022 were 35.6%, 76.2%, and 88.1% respectively. Interestingly, despite the continuous increase in net income, interest expenses are also increasing continuously, indicating poor internal cash flow. In 2022, interest expenses accounted for 12.6% of operating profit, slightly burdensome.
Revenue increased by 6.9% in the first two quarters of 2023, operating profit increased by 13.6%, and net income increased by 18.3%.
Over the past 5 years, the asset-liability ratio has decreased from 78.1% to 72.3%, further dropping to 69.5% in 2023 Q2. The leverage ratio is relatively high within the sector. Both accounts receivable and inventory are very low.
Goodwill and other intangible assets amount to 0.673 billion, 1.2 times the net assets of 0.561 billion, indicating the assets are quite intangible. Long-term borrowings amount to 0.831 billion, showing a very high leverage ratio.
In the past 5 years, cash flow from operations has slightly exceeded net investment, with very little shareholder earnings.
Currently, the pe is 19.8, the TTM pe has slightly decreased to 18.2, considering the current slowdown in growth, sector cycle issues, I am temporarily observing.
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