IBP (Installed Building Products) Beneish M-Score: -2.78 (As of Jun. 25, 2026)

What is Installed Building Products Beneish M-Score?

Installed Building Products IBP +5.99% 96 Beneish M-Score is -2.78 as of Jun. 25, 2026. GuruFocus rates IBP with a GF Score™ of 96/100 and a GF Value™ of $225.55 (Fairly Valued). The stock has 3 warning signs investors should review. Among 89 Homebuilding & Construction companies, Installed Building Products ranks better than 86.52% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Installed Building Products's Beneish M-Score or its related term are showing as below:

IBP' s Beneish M-Score Range Over the Past 10 Years
Min: -2.91 Med: -2.63 Max: -2.15
Current: -2.78

During the past 13 years, the highest Beneish M-Score of Installed Building Products was -2.15. The lowest was -2.91. And the median was -2.63.

Installed Building Products Beneish M-Score Related Terms

Installed Building Products Beneish M-Score Historical Data

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The historical data trend for Installed Building Products's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Installed Building Products Beneish M-Score Chart

Installed Building Products Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.34

-2.37

-2.72

-2.62

-2.71

Installed Building Products Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.69	-2.70	-2.75	-2.71	-2.78

IBP vs TMHC, MTH, CVCO: Beneish M-Score Comparison

For the Residential Construction subindustry, Installed Building Products's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Installed Building Products Beneish M-Score vs Homebuilding & Construction Industry

For the Homebuilding & Construction industry and Consumer Cyclical sector, Installed Building Products's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Installed Building Products's Beneish M-Score falls into.

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96GF Score

Installed Building Products Inc IBP

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Installed Building Products Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Installed Building Products for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0121

0.528 * 0.9902

0.404 * 0.9435

0.892 * 1.0045

0.115 * 0.9942

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0124

4.679 * -0.057898

0.327 * 1.0414

-2.78

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $426 Mil.
Revenue was 660.5 + 747.5 + 778.2 + 760.3 = $2,947 Mil.
Gross Profit was 212.3 + 261.5 + 264.2 + 259.9 = $998 Mil.
Total Current Assets was $1,170 Mil.
Total Assets was $2,230 Mil.
Property, Plant and Equipment(Net PPE) was $290 Mil.
Depreciation, Depletion and Amortization(DDA) was $147 Mil.
Selling, General, & Admin. Expense(SGA) was $582 Mil.
Total Current Liabilities was $350 Mil.
Long-Term Debt & Capital Lease Obligation was $1,103 Mil.
Net Income was 34.8 + 76.6 + 74.4 + 69 = $255 Mil.
Non Operating Income was -0.2 + 1.4 + 0.4 + 0.7 = $2 Mil.
Cash Flow from Operations was 102.3 + 64.9 + 124 + 90.4 = $382 Mil.

Total Receivables was $419 Mil.
Revenue was 684.8 + 750.2 + 760.6 + 737.6 = $2,933 Mil.
Gross Profit was 223.7 + 251.8 + 256.8 + 251.4 = $984 Mil.
Total Current Assets was $995 Mil.
Total Assets was $1,999 Mil.
Property, Plant and Equipment(Net PPE) was $273 Mil.
Depreciation, Depletion and Amortization(DDA) was $138 Mil.
Selling, General, & Admin. Expense(SGA) was $573 Mil.
Total Current Liabilities was $345 Mil.
Long-Term Debt & Capital Lease Obligation was $906 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(426.4 / 2946.5)	/	(419.4 / 2933.2)
	=	0.144714	/	0.142984
	=	1.0121

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(983.7 / 2933.2)	/	(997.9 / 2946.5)
	=	0.335368	/	0.338673
	=	0.9902

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (1170.1 + 290.2) / 2229.8)	/	(1 - (994.7 + 273.3) / 1999.3)
	=	0.345098	/	0.365778
	=	0.9435

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	2946.5	/	2933.2
	=	1.0045

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(137.6 / (137.6 + 273.3))	/	(147.4 / (147.4 + 290.2))
	=	0.334875	/	0.336837
	=	0.9942

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(582.2 / 2946.5)	/	(572.5 / 2933.2)
	=	0.19759	/	0.195179
	=	1.0124

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((1103.3 + 349.8) / 2229.8)	/	((906.4 + 344.7) / 1999.3)
	=	0.651673	/	0.625769
	=	1.0414

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(254.8 - 2.3	-	381.6)	/	2229.8
	=	-0.057898

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Installed Building Products has a M-score of -2.78 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -2.78 mean?

Installed Building Products (IBP) has a Beneish M-Score of -2.78 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Installed Building Products and its competitors. According to the industry distribution chart, Installed Building Products ranks #12 out of 89 companies in the Homebuilding & Construction industry, placing it in the top 13.5%.

Is Installed Building Products' Beneish M-Score too high?

Installed Building Products' current Beneish M-Score is -2.78. Based on the distribution chart, Installed Building Products ranks #12 out of 89 companies in the Homebuilding & Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Installed Building Products has a GF Score™ of 96/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Installed Building Products' Beneish M-Score compare to TMHC and MTH?

According to the Homebuilding & Construction industry distribution chart, Installed Building Products ranks #12 out of 89 companies for Beneish M-Score. This places Installed Building Products in the top 14% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Homebuilding & Construction company?

A good Beneish M-Score depends on the Homebuilding & Construction industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Installed Building Products and its competitors. Installed Building Products's current Beneish M-Score is -2.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Installed Building Products stock overvalued right now?

Based on GuruFocus' analysis, Installed Building Products (IBP) is currently considered Fairly Valued. The stock's GF Value™ is $225.55, compared to a current price of $223.30 — trading 1% below its estimated fair value. The current Beneish M-Score is -2.78. Installed Building Products' overall GF Score™ is 96/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For Installed Building Products (IBP), the current Beneish M-Score is -2.78 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Installed Building Products (IBP) Overvalued in 2026?

Based on GuruFocus' analysis, Installed Building Products stock appears to be undervalued. The current stock price of $223.30 is trading 1% below its estimated GF Value™ of $225.55. GuruFocus considers Installed Building Products to be Fairly Valued.

Key valuation signals for IBP:

Beneish M-Score: -2.78
GF Value™: $225.55 vs. price of $223.30 (1% below fair value)
GF Score™: 96/100 with 3 warning signs

No single metric tells the full story. See the IBP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Installed Building Products Business Description

Industry Consumer Cyclical Homebuilding & Construction

Comparable Companies TMHC MTH CVCO SKY MHO KBH GRBK DFH LGIH BZH DHI PHM LEN NVR TSE:1928 TOL TSE:1911 LSE:BTRW LSE:PSN TSE:1808

Address 495 South High Street, Suite 50, Columbus, OH, USA, 43215

Website https://www.installedbuildingproducts.com

Installed Building Products Inc is an insulation installer serving the residential new construction market and are also a diversified installer of complementary building products, including waterproofing, fire-stopping and fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving, mirrors and other products throughout the United States. The company installs fiberglass insulation, spray foam insulation, and cellulose insulation. The company has three operating segments consisting of Installation, Manufacturing and Distribution operations. Majority of revenue is derived from Installation segment.

96GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$223.30

Price

$225.55

GF Value

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