Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Installed Building Products / Equity Bottom-Up

<ul><li>Installed Building Products reported consolidated net revenue growth of 2% to $778 million in the second quarter of 2026 compared to the prior year, supported by contributions from recent acquisitions and growth within commercial installation, manufacturing, and distribution segments.</li><li>Same-branch sales declined slightly by less than 1%, with new residential installation sales decreasing due to ongoing affordability pressures and subdued consumer confidence, while commercial installation sales grew by 10%, and heavy commercial sales increased over 15%.</li><li>Multifamily end market backlog expanded, indicating stability in that segment despite overall softening in single-family housing starts, which decreased 4% year-over-year, while multifamily starts increased 10%.</li></ul>

Installed Building Products reported consolidated net revenue growth of 2% to $778 million in the second quarter of 2026 compared to the prior year, supported by contributions from recent acquisitions and growth within commercial installation, manufacturing, and distribution segments.Same-branch sales declined slightly by less than 1%, with new residential installation sales decreasing due to ongoing affordability pressures and subdued consumer confidence, while commercial installation sales grew by 10%, and heavy commercial sales increased over 15%.Multifamily end market backlog expanded, indicating stability in that segment despite overall softening in single-family housing starts, which decreased 4% year-over-year, while multifamily starts increased 10%.

Installed Building’s $395 Million Cash Position — Can M&A Accelerate From Here?

Smartkarma AI Primers, Smartkarma

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Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

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<a href="https://smartkarma.com/entities/installed-building-products">Installed Building Products</a> (IBP) is a leading installer of insulation and a diverse range of complementary building products, primarily serving the U.S. residential new construction market, with growing exposure to commercial and repair/remodel sectors.</li>
  <li>The company's growth strategy is centered on the disciplined acquisition of smaller, local installers in a highly fragmented market, which it integrates into its national platform to leverage scale, procurement advantages, and cross-selling opportunities.</li>
  <li>While facing cyclical headwinds from interest rates and housing affordability, IBP's expansion into the commercial sector and its diversified product portfolio provide a partial hedge against volatility in the single-family residential market.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Installed Building Products (IBP) is a leading installer of insulation and a diverse range of complementary building products, primarily serving the U.S. residential new construction market, with growing exposure to commercial and repair/remodel sectors.
  The company's growth strategy is centered on the disciplined acquisition of smaller, local installers in a highly fragmented market, which it integrates into its national platform to leverage scale, procurement advantages, and cross-selling opportunities.
  While facing cyclical headwinds from interest rates and housing affordability, IBP's expansion into the commercial sector and its diversified product portfolio provide a partial hedge against volatility in the single-family residential market.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Installed Building Products (IBP US) - Aug 2026

<ul><li>Installed Building Products, a provider of insulation and complementary building products installation services, reported its first quarter 2026 financial results reflecting a mixture of challenges and growth areas amid a complex macroeconomic environment.</li><li>Consolidated net revenue declined 4% year-over-year to $661 million, with same-branch sales falling 6%, primarily reflecting weakness in the new residential installation segment.</li><li>In particular, new single-family home activity was slower than anticipated during the spring selling season, attributed in part to regional variations and geopolitical uncertainties that impacted U.S. consumer demand and new home sales.</li></ul>

Installed Building Products, a provider of insulation and complementary building products installation services, reported its first quarter 2026 financial results reflecting a mixture of challenges and growth areas amid a complex macroeconomic environment.Consolidated net revenue declined 4% year-over-year to $661 million, with same-branch sales falling 6%, primarily reflecting weakness in the new residential installation segment.In particular, new single-family home activity was slower than anticipated during the spring selling season, attributed in part to regional variations and geopolitical uncertainties that impacted U.S. consumer demand and new home sales.

Installed Building Products Is Not Just A Housing Cycle Story — Here’s Why Commercial Matters!

<ul><li>Installed Building Products delivered record profitability in 2025 despite operating in a mixed demand environment shaped by weakness in portions of the residential housing market and stronger activity in commercial construction.</li><li>Consolidated revenue for the fourth quarter was roughly flat year over year at approximately $748 million, while the company reported record adjusted EBITDA of $142 million and an adjusted EBITDA margin of 19%.</li><li>Adjusted gross margin expanded to 35% from 33.6% in the prior year period, supported by favorable customer and geographic mix, disciplined cost management, and strong performance in certain commercial installation activities.</li></ul>

Installed Building Products delivered record profitability in 2025 despite operating in a mixed demand environment shaped by weakness in portions of the residential housing market and stronger activity in commercial construction.Consolidated revenue for the fourth quarter was roughly flat year over year at approximately $748 million, while the company reported record adjusted EBITDA of $142 million and an adjusted EBITDA margin of 19%.Adjusted gross margin expanded to 35% from 33.6% in the prior year period, supported by favorable customer and geographic mix, disciplined cost management, and strong performance in certain commercial installation activities.

Installed Building Products: How Strategic Acquisitions & Product Cross-Selling Are Strengthening Its Installation Platform!

<ul><li>Installed Building Products is making decisive moves to expand its U.S. footprint despite ongoing macroeconomic uncertainty.</li><li>On February 2, 2026, IBP announced the acquisitions of Thermo-Tech Mechanical Insulation (~$13 million in revenue), Biomax Spray Foam Insulation (~$5 million), and CKV Finished Products (~$4 million), signaling a deliberate push into both new geographies and complementary product categories.</li><li>These transactions follow an active year in which the company added nearly $60 million in annualized revenue via M&A and ended Q3 2025 with a record $778 million in quarterly sales.</li></ul>

Installed Building Products is making decisive moves to expand its U.S. footprint despite ongoing macroeconomic uncertainty.On February 2, 2026, IBP announced the acquisitions of Thermo-Tech Mechanical Insulation (~$13 million in revenue), Biomax Spray Foam Insulation (~$5 million), and CKV Finished Products (~$4 million), signaling a deliberate push into both new geographies and complementary product categories.These transactions follow an active year in which the company added nearly $60 million in annualized revenue via M&A and ended Q3 2025 with a record $778 million in quarterly sales.

Installed Building Products Expands Again—These 3 Acquisitions Might Be a Big Deal!

United States

Installed Building Products Inc installs residential insulation in the United States.  The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors.

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Installed Building Products (IBP US)

Installed Building’s $395 Million Cash Position — Can M&A Accelerate From Here?

Installed Building Products reported consolidated net revenue growth of 2% to $778 million in the second quarter of 2026 compared to the prior...

Baptista Research

Primer: Installed Building Products (IBP US) - Aug 2026

Installed Building Products (IBP) is a leading installer of insulation and a diverse range of complementary building products, primarily...

αSK Primers

Installed Building Products Is Not Just A Housing Cycle Story — Here’s Why Commercial Matters!

Installed Building Products, a provider of insulation and complementary building products installation services, reported its first quarter 2026...

Baptista Research

Installed Building Products: How Strategic Acquisitions & Product Cross-Selling Are Strengthening Its Installation Platform!

Installed Building Products delivered record profitability in 2025 despite operating in a mixed demand environment shaped by weakness in portions...

Baptista Research

Installed Building Products Expands Again—These 3 Acquisitions Might Be a Big Deal!

Installed Building Products is making decisive moves to expand its U.S. footprint despite ongoing macroeconomic uncertainty. On February 2, 2026,...

Baptista Research

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