IBP · CIK 0001580905
What Installed Building Products, Inc. told the SEC could break it.
Installed Building Products' disclosures lead with aluminum-cost exposure: tariffs on imported aluminum rose to 50% in 2025, raising costs and squeezing margins in its gutter business, with the February 2026 Supreme Court decision invalidating IEEPA tariffs adding uncertainty about where materials costs go next. That exposure is sharpened by a single-supplier dependence — its CAS gutter unit buys the majority of its finished painted aluminum from one supplier. Its revenue is also concentrated by product, with insulation installation about 58% of its $3.0 billion 2025 net revenue, tying it to housing-construction cycles and insulation-material costs.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Regulatory & policy
- 50% aluminum import tariffs + Feb-2026 SCOTUS IEEPA decisionhigh
Tariffs on imported aluminum rose to 50% in 2025, raising IBP's aluminum costs and squeezing gutter-business margins; the Feb 2026 SCOTUS decision invalidating IEEPA tariffs and possible tariff changes add uncertainty to its materials costs.
“Aluminum prices have experienced significant increases as the tariffs imposed on imported aluminum increased to 50% in 2025. Although the current administration has suggested that it may reduce certain tariffs on imported aluminum, whether such changes will occur, and what their effects would be, remains unclear. Future trade policy may also be impacted by the recent U.S. Supreme Court decision invalidating tariffs imposed under the International Emergency Economic Powers Act, the effects of which remain uncertain.”
SEC filing →As of 2026
Supplier concentration
- single supplier of finished painted aluminum (CAS gutter business)medium
IBP's CAS gutter-supply business buys the majority of its finished painted aluminum from a single supplier and is exposed to aluminum commodity-price fluctuations.
“CAS purchases the majority of its finished painted aluminum from a single supplier and is subject to fluctuations in the commodity pricing of aluminum.”
Other disclosures
- product concentration — insulation = 58% of net revenuelow
IBP's revenue is concentrated in insulation installation (~58% of $3.0B net revenue in 2025) and in residential/commercial construction end markets, tying it to housing cycles and insulation-material costs.
“Insulation installation comprised approximately 58%, 60% and 60% of our net revenue of $3.0 billion, $2.9 billion and $2.8 billion for the years ended December 31, 2025, 2024 and 2023, respectively.”
SEC filing →As of 2026
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