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Side-by-side financial comparison of Installed Building Products, Inc. (IBP) and Madison Square Garden Sports Corp. (MSGS). Click either name above to swap in a different company.
Installed Building Products, Inc. is the larger business by last-quarter revenue ($747.5M vs $403.4M, roughly 1.9× Madison Square Garden Sports Corp.). Installed Building Products, Inc. runs the higher net margin — 10.2% vs 2.0%, a 8.2% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs -0.4%). Installed Building Products, Inc. produced more free cash flow last quarter ($49.3M vs $31.6M). Over the past eight quarters, Installed Building Products, Inc.'s revenue compounded faster (3.9% CAGR vs -3.1%).
Installed Building Products, Inc. is a leading US-based provider of professional installation services for building products. Core offerings include insulation, gutters, garage doors, fire protection systems and window treatments, serving residential new construction, repair & remodel, and commercial construction segments across most US regions.
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
IBP vs MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $747.5M | $403.4M |
| Net Profit | $76.6M | $8.2M |
| Gross Margin | 35.0% | — |
| Operating Margin | 14.6% | 5.5% |
| Net Margin | 10.2% | 2.0% |
| Revenue YoY | -0.4% | 12.8% |
| Net Profit YoY | 14.5% | 641.9% |
| EPS (diluted) | $2.81 | $0.34 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $747.5M | $403.4M | ||
| Q3 25 | $778.2M | $39.5M | ||
| Q2 25 | $760.3M | $204.0M | ||
| Q1 25 | $684.8M | $424.2M | ||
| Q4 24 | $750.2M | $357.8M | ||
| Q3 24 | $760.6M | $53.3M | ||
| Q2 24 | $737.6M | $227.3M | ||
| Q1 24 | $692.9M | $430.0M |
| Q4 25 | $76.6M | $8.2M | ||
| Q3 25 | $74.4M | $-8.8M | ||
| Q2 25 | $69.0M | $-1.8M | ||
| Q1 25 | $45.4M | $-14.2M | ||
| Q4 24 | $66.9M | $1.1M | ||
| Q3 24 | $68.6M | $-7.5M | ||
| Q2 24 | $65.2M | $25.5M | ||
| Q1 24 | $55.9M | $37.9M |
| Q4 25 | 35.0% | — | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 32.7% | — | ||
| Q4 24 | 33.6% | — | ||
| Q3 24 | 33.8% | — | ||
| Q2 24 | 34.1% | — | ||
| Q1 24 | 33.8% | — |
| Q4 25 | 14.6% | 5.5% | ||
| Q3 25 | 13.7% | -69.5% | ||
| Q2 25 | 13.3% | -11.1% | ||
| Q1 25 | 10.2% | 7.6% | ||
| Q4 24 | 13.1% | 3.7% | ||
| Q3 24 | 13.3% | -15.5% | ||
| Q2 24 | 12.9% | 23.0% | ||
| Q1 24 | 12.7% | 18.5% |
| Q4 25 | 10.2% | 2.0% | ||
| Q3 25 | 9.6% | -22.3% | ||
| Q2 25 | 9.1% | -0.9% | ||
| Q1 25 | 6.6% | -3.4% | ||
| Q4 24 | 8.9% | 0.3% | ||
| Q3 24 | 9.0% | -14.1% | ||
| Q2 24 | 8.8% | 11.2% | ||
| Q1 24 | 8.1% | 8.8% |
| Q4 25 | $2.81 | $0.34 | ||
| Q3 25 | $2.74 | $-0.37 | ||
| Q2 25 | $2.52 | $-0.08 | ||
| Q1 25 | $1.64 | $-0.59 | ||
| Q4 24 | $2.39 | $0.05 | ||
| Q3 24 | $2.44 | $-0.31 | ||
| Q2 24 | $2.30 | $1.07 | ||
| Q1 24 | $1.97 | $1.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $321.9M | $81.3M |
| Total DebtLower is stronger | $886.6M | — |
| Stockholders' EquityBook value | $709.9M | $-282.1M |
| Total Assets | $2.1B | $1.5B |
| Debt / EquityLower = less leverage | 1.25× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $321.9M | $81.3M | ||
| Q3 25 | $333.3M | $48.6M | ||
| Q2 25 | $305.2M | $144.6M | ||
| Q1 25 | $298.7M | $96.5M | ||
| Q4 24 | $327.6M | $107.8M | ||
| Q3 24 | $406.2M | $52.3M | ||
| Q2 24 | $380.3M | $89.1M | ||
| Q1 24 | $399.9M | $40.0M |
| Q4 25 | $886.6M | — | ||
| Q3 25 | $880.8M | — | ||
| Q2 25 | $876.1M | — | ||
| Q1 25 | $872.4M | — | ||
| Q4 24 | $874.8M | — | ||
| Q3 24 | $872.3M | — | ||
| Q2 24 | $875.8M | — | ||
| Q1 24 | $875.0M | — |
| Q4 25 | $709.9M | $-282.1M | ||
| Q3 25 | $678.6M | $-294.2M | ||
| Q2 25 | $664.5M | $-281.4M | ||
| Q1 25 | $660.9M | $-283.4M | ||
| Q4 24 | $705.3M | $-273.1M | ||
| Q3 24 | $716.4M | $-277.5M | ||
| Q2 24 | $685.3M | $-266.3M | ||
| Q1 24 | $679.2M | $-294.0M |
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $2.0B | $1.5B | ||
| Q1 25 | $2.0B | $1.5B | ||
| Q4 24 | $2.1B | $1.4B | ||
| Q3 24 | $2.1B | $1.4B | ||
| Q2 24 | $2.0B | $1.3B | ||
| Q1 24 | $2.0B | $1.4B |
| Q4 25 | 1.25× | — | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.32× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 1.24× | — | ||
| Q3 24 | 1.22× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.29× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $64.9M | $32.4M |
| Free Cash FlowOCF − Capex | $49.3M | $31.6M |
| FCF MarginFCF / Revenue | 6.6% | 7.8% |
| Capex IntensityCapex / Revenue | 2.1% | 0.2% |
| Cash ConversionOCF / Net Profit | 0.85× | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $300.8M | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.9M | $32.4M | ||
| Q3 25 | $124.0M | $-85.0M | ||
| Q2 25 | $90.4M | $49.7M | ||
| Q1 25 | $92.1M | $6.3M | ||
| Q4 24 | $74.8M | $61.8M | ||
| Q3 24 | $101.4M | $-26.2M | ||
| Q2 24 | $79.0M | $108.4M | ||
| Q1 24 | $84.8M | $4.0M |
| Q4 25 | $49.3M | $31.6M | ||
| Q3 25 | $104.8M | $-85.3M | ||
| Q2 25 | $74.8M | $49.4M | ||
| Q1 25 | $71.9M | $3.9M | ||
| Q4 24 | $52.9M | $61.2M | ||
| Q3 24 | $77.3M | $-26.5M | ||
| Q2 24 | $58.2M | $108.0M | ||
| Q1 24 | $63.0M | $3.9M |
| Q4 25 | 6.6% | 7.8% | ||
| Q3 25 | 13.5% | -216.3% | ||
| Q2 25 | 9.8% | 24.2% | ||
| Q1 25 | 10.5% | 0.9% | ||
| Q4 24 | 7.1% | 17.1% | ||
| Q3 24 | 10.2% | -49.7% | ||
| Q2 24 | 7.9% | 47.5% | ||
| Q1 24 | 9.1% | 0.9% |
| Q4 25 | 2.1% | 0.2% | ||
| Q3 25 | 2.5% | 0.9% | ||
| Q2 25 | 2.1% | 0.2% | ||
| Q1 25 | 2.9% | 0.6% | ||
| Q4 24 | 2.9% | 0.1% | ||
| Q3 24 | 3.2% | 0.7% | ||
| Q2 24 | 2.8% | 0.2% | ||
| Q1 24 | 3.1% | 0.0% |
| Q4 25 | 0.85× | 3.94× | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | 1.12× | 55.61× | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 1.21× | 4.25× | ||
| Q1 24 | 1.52× | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
