IBP
Installed Building Products, Inc.
Is IBP Halal?
Insulation and building-products installer with a generally permissible core business, but the current filing-based debt screen fails.
What You Should Know
Installed Building Products, Inc. installs insulation and complementary building products for residential and commercial construction. Its March 31, 2026 Form 10-Q reports assets of $2,229.8 million, interest-bearing debt of $1,081.6 million, cash of $474.3 million and accounts receivable of $426.4 million. Debt/assets is 48.51%, liquidity/assets is 21.27% and receivables-plus-cash/assets is 40.39%; gross interest income is not separately disclosed. The current debt proxy fails the examined FTSE Yasaar, MSCI and Malaysia financial limits, so the stored verdict is doubtful even though insulation and installation are generally permissible activities.
⚠️ Concerns
- •Debt/assets is 48.51%, above the examined 33% limits
- •Acquisition financing and roll-up leverage remain the deciding financial issue
- •Residential and commercial construction end uses remain qualitatively mixed
- •Gross interest income and a universal prohibited-revenue numerator are unavailable
- •Re-screen after debt repayment, refinancing or the next filing
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
1,081.6 / 2,229.8
474.3 / 2,229.8
900.7 / 2,229.8
- Financial
- Fails
- Overall
- Fails
Debt/assets is 48.51%, above the examined 33.333% limit; liquidity is 21.27% and receivables plus cash is 40.39%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 48.51%, above the examined 33.33% limit; receivables plus cash is also above the examined limit.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 48.51%, above the examined 33% limit. This is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset still fails the total-assets debt proxy.
Business-activity disclosure
Installed Building Products installs insulation and complementary building products for residential and commercial construction. The core service is generally permissible, subject to customer and project mix review.
Limitation: The filing does not provide a reproducible prohibited-revenue numerator for project end uses or a gross interest-income figure.
Purification
Gross interest income is not separately disclosed and no scholar-approved purification percentage is inferred.
Inputs, assumptions and primary sources
- Amounts are USD millions from Installed Building Products' March 31, 2026 Form 10-Q and rounded to one decimal.
- Debt includes $35.6 million current and $1,035.4 million long-term debt plus $3.6 million current and $7.0 million long-term finance-lease obligations; operating leases are excluded.
- Cash is $474.3 million and no separately identified interest-bearing securities are added.
- Accounts receivable is $426.4 million and first-quarter revenue is $660.5 million; gross interest income is not separately disclosed.
- The quantitative result is a filing-based proxy, not an index membership or scholar-issued fatwa.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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