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Installed Building Products cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$58.3M in Q3 2026 · $245M over twelve months

Operating cash flow$74.8M
Capital spending−$16.5M
Free cash flow+$58.3M
Cash / net income1.3×
Cash conversion cycle67 days

Analysis

In Q3 2026, Installed Building Products generated $74.8M of operating cash flow and spent $16.5M on capital projects, leaving free cash flow of $58.3M. That is $46.5M less than in Q3 2025 ($105M).

Over the twelve months to Sep 30, 2026, operating cash flow was $311M; the largest uses were buybacks ($139M), dividends ($90.0M), acquisitions ($82.4M); besides operations, cash came from other financing ($136M), net borrowing (+) / repaid (−) ($10.7M); the cash balance rose by $82.6M.

Operating cash flow was $74.8M against net income of $59.4M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$18.3M, receivables −$18.2M, payables −$10.5M.

Its cash conversion cycle was 67 days (receivables 54 + inventory 37 − payables 24).

Free cash flow

Installed Building Products: free cash flow by quarterInstalled Building Products: free cash flow by quarter$52.9MQ4 2024$71.9MQ1 2025$74.8MQ2 2025$105MQ3 2025$49.3MQ4 2025$85.7MQ1 2026$51.9MQ2 2026$58.3MQ3 2026
Operating cash flow less capital spending.
Installed Building Products: operating cash flow against capital spendingInstalled Building Products: operating cash flow against capital spendingOperating cash flowCapital spending$74.8M$21.9MQ4 2024$92.1M$20.2MQ1 2025$90.4M$15.6MQ2 2025$124M$19.2MQ3 2025$64.9M$15.6MQ4 2025$102M$16.6MQ1 2026$68.8M$16.9MQ2 2026$74.8M$16.5MQ3 2026
Latest (Q3 2026): Operating cash flow $74.8M, Capital spending $16.5M.

Capital allocation, year by year

Installed Building Products: where the cash came from (up) and went (down), by fiscal yearInstalled Building Products: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $138MFY2021: Net borrowing −$2.1MFY2021: Asset sales $2.7MFY2021: Capital spending −$37.0MFY2021: Acquisitions −$241MFY2021: Dividends −$35.3M$141MFY2021FY2022: Operating cash flow $278MFY2022: Net borrowing $28.6MFY2022: Asset sales $2.0MFY2022: Capital spending −$45.6MFY2022: Acquisitions −$114MFY2022: Buybacks −$138MFY2022: Dividends −$62.7M$308MFY2022FY2023: Operating cash flow $340MFY2023: Net borrowing $35.8MFY2023: Asset sales $2.7MFY2023: Capital spending −$61.6MFY2023: Acquisitions −$59.6MFY2023: Buybacks −$6.3MFY2023: Dividends −$63.1M$379MFY2023FY2024: Operating cash flow $340MFY2024: Net borrowing $25.7MFY2024: Asset sales $2.9MFY2024: Capital spending −$88.6MFY2024: Acquisitions −$88.6MFY2024: Buybacks −$145MFY2024: Dividends −$84.7M$369MFY2024FY2025: Operating cash flow $371MFY2025: Net borrowing $43.2MFY2025: Asset sales $2.7MFY2025: Capital spending −$70.6MFY2025: Acquisitions −$51.5MFY2025: Buybacks −$173MFY2025: Dividends −$87.6M$417MFY2025
Over these 5 years operating cash flow totalled $1.5B; the largest uses were acquisitions ($554M) and buybacks ($462M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$416M
Debt$1.1B
Net debt$638M
Due within a year$36.6M

Installed Building Products funds itself: free cash flow was $245M over the last twelve months, and $416M of cash and investments stands against $1.1B of debt ($36.6M due within a year, 11.4× covered by cash).

Installed Building Products: debt maturities by year (FY2025)Installed Building Products: debt maturities by year (FY2025)$36.6MYear 1$32.6MYear 2$326MYear 3$18.5MYear 4$11.3MYear 5$466MAfter year 5
Principal due in each year as disclosed in the annual report, against $416M of cash and investments now.

Where the cash came from and went

Installed Building Products: sources (+) and uses (−) of cash, Q3 2026Installed Building Products: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$74.8MCash drawn (+) / kept (−)−$21.4MCapital spending−$16.5MAcquisitions−$15.5MOther financing−$10.5MDividends−$10.3MNet borrowing (+) / repaid (−)−$1.2MAsset & business sales$800KOther investing−$200K
Installed Building Products: sources (+) and uses (−) of cash, TTM to Q3 2026Installed Building Products: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$311MBuybacks−$139MOther financing$136MDividends−$90.0MCash drawn (+) / kept (−)−$82.6MAcquisitions−$82.4MCapital spending−$65.6MNet borrowing (+) / repaid (−)$10.7MAsset & business sales$2.4MOther investing−$200K

From profit to cash

Installed Building Products: net income to operating cash flow, Q3 2026Installed Building Products: net income to operating cash flow, Q3 2026Net income$59.4MDepreciation & amortization$18.3MStock-based pay$5.6MOther non-cash−$1.8MReceivables−$18.2MInventory$1.3MPayables−$10.5MPrepaid and other assets$200KOther liabilities−$3.9MIncome taxes payable$500KOperating cash flow$74.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202654372467
Q2 202652382466
Q1 202659412476
Q4 202555372468
Q3 202553342661
Q2 202552352761
Q1 202556382866
Q4 202454352960

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$74.8M−$16.5M−$15.5M—−$10.3M−$1.2M−$21.4M$58.3M
Q2 2026$68.8M−$16.9M−$18.9M−$76.3M−$10.4M−$800K$79.8M$51.9M
Q1 2026$102M−$16.6M−$28.8M−$25.4M−$58.7M$199M−$152M$85.7M
Q4 2025$64.9M−$15.6M−$19.2M−$37.7M−$9.9M$13.8M$11.4M$49.3M
Q3 2025$124M−$19.2M−$21.0M−$51.4M−$10.0M−$800K−$28.1M$105M
Q2 2025$90.4M−$15.6M−$3.0M−$49.2M−$10.1M−$700K−$6.5M$74.8M
Q1 2025$92.1M−$20.2M−$8.3M−$34.3M−$56.8M−$700K$28.9M$71.9M
Q4 2024$74.8M−$21.9M−$46.7M−$78.9M−$9.7M—$78.6M$52.9M

Installed Building Products: income statement and cash flow

Installed Building Products, Q3 2026: revenue $808M (+4% year over year), operating margin 11.3%. The chart follows the revenue to costs, profit and cash.

Installed Building Products: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.