IBP
Installed Building Products, Inc.
Is IBP Halal?
Insulation and building-products installer — a permissible services business, with acquisition debt to screen.
What You Should Know
Installed Building Products, Inc. is one of the largest installers of insulation and complementary building products (garage doors, waterproofing, shower doors, shelving) for residential and commercial construction. Installing building products is a clearly permissible services activity with no haram revenue line of its own. The main screening item is the balance sheet: IBP grows through acquisitions and carries debt to fund them, so its total-debt-to-market-cap ratio should be confirmed against the 33% threshold using the latest filings. As an installer, the receivables ratio is worth checking, and incidental interest income on cash should be checked against the 5% threshold and the corresponding portion of returns purified.
⚠️ Concerns
- •Carries acquisition-related debt from its roll-up strategy — confirm total debt / market cap stays under the 33% threshold against the latest filings
- •Installer receivables should be confirmed against the board's threshold (49–70%) against the latest filings
- •Incidental interest income on cash should be checked against the 5% threshold and the corresponding portion of returns purified
- •Cyclical with residential and commercial construction — re-screen the ratios periodically
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