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Side-by-side financial comparison of Installed Building Products, Inc. (IBP) and StepStone Group Inc. (STEP). 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 $586.5M, roughly 1.3× StepStone Group Inc.). Installed Building Products, Inc. runs the higher net margin — 10.2% vs -21.0%, a 31.3% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs -0.4%). Installed Building Products, Inc. produced more free cash flow last quarter ($49.3M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 3.9%).
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.
Rosetta Stone Inc. is an American education technology software company that develops language, literacy and brain-fitness software. Best known for its language-learning products, in 2013, the company expanded beyond language into education-technology with its acquisitions of Livemocha, Lexia Learning, Fit Brains, and Tell Me More. In 2021, it became a subsidiary of IXL Learning.
IBP vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $747.5M | $586.5M |
| Net Profit | $76.6M | $-123.5M |
| Gross Margin | 35.0% | — |
| Operating Margin | 14.6% | -33.2% |
| Net Margin | 10.2% | -21.0% |
| Revenue YoY | -0.4% | 73.0% |
| Net Profit YoY | 14.5% | 35.7% |
| EPS (diluted) | $2.81 | $-1.55 |
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 | $586.5M | ||
| Q3 25 | $778.2M | $454.2M | ||
| Q2 25 | $760.3M | $364.3M | ||
| Q1 25 | $684.8M | $377.7M | ||
| Q4 24 | $750.2M | $339.0M | ||
| Q3 24 | $760.6M | $271.7M | ||
| Q2 24 | $737.6M | $186.4M | ||
| Q1 24 | $692.9M | $356.8M |
| Q4 25 | $76.6M | $-123.5M | ||
| Q3 25 | $74.4M | $-366.1M | ||
| Q2 25 | $69.0M | $-38.4M | ||
| Q1 25 | $45.4M | $-18.5M | ||
| Q4 24 | $66.9M | $-192.0M | ||
| Q3 24 | $68.6M | $17.6M | ||
| Q2 24 | $65.2M | $13.3M | ||
| Q1 24 | $55.9M | $30.8M |
| 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% | -33.2% | ||
| Q3 25 | 13.7% | -148.8% | ||
| Q2 25 | 13.3% | -5.6% | ||
| Q1 25 | 10.2% | 2.6% | ||
| Q4 24 | 13.1% | -101.7% | ||
| Q3 24 | 13.3% | 21.3% | ||
| Q2 24 | 12.9% | 29.4% | ||
| Q1 24 | 12.7% | 26.5% |
| Q4 25 | 10.2% | -21.0% | ||
| Q3 25 | 9.6% | -80.6% | ||
| Q2 25 | 9.1% | -10.5% | ||
| Q1 25 | 6.6% | -4.9% | ||
| Q4 24 | 8.9% | -56.6% | ||
| Q3 24 | 9.0% | 6.5% | ||
| Q2 24 | 8.8% | 7.2% | ||
| Q1 24 | 8.1% | 8.6% |
| Q4 25 | $2.81 | $-1.55 | ||
| Q3 25 | $2.74 | $-4.66 | ||
| Q2 25 | $2.52 | $-0.49 | ||
| Q1 25 | $1.64 | $-0.37 | ||
| Q4 24 | $2.39 | $-2.61 | ||
| Q3 24 | $2.44 | $0.26 | ||
| Q2 24 | $2.30 | $0.20 | ||
| Q1 24 | $1.97 | $0.47 |
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 | — |
| Total DebtLower is stronger | $886.6M | $270.2M |
| Stockholders' EquityBook value | $709.9M | $-378.8M |
| Total Assets | $2.1B | $5.2B |
| Debt / EquityLower = less leverage | 1.25× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $321.9M | — | ||
| Q3 25 | $333.3M | — | ||
| Q2 25 | $305.2M | — | ||
| Q1 25 | $298.7M | — | ||
| Q4 24 | $327.6M | — | ||
| Q3 24 | $406.2M | — | ||
| Q2 24 | $380.3M | — | ||
| Q1 24 | $399.9M | — |
| Q4 25 | $886.6M | $270.2M | ||
| Q3 25 | $880.8M | $269.9M | ||
| Q2 25 | $876.1M | $269.6M | ||
| Q1 25 | $872.4M | $269.3M | ||
| Q4 24 | $874.8M | $168.9M | ||
| Q3 24 | $872.3M | $172.3M | ||
| Q2 24 | $875.8M | $172.1M | ||
| Q1 24 | $875.0M | $148.8M |
| Q4 25 | $709.9M | $-378.8M | ||
| Q3 25 | $678.6M | $-233.5M | ||
| Q2 25 | $664.5M | $153.9M | ||
| Q1 25 | $660.9M | $179.4M | ||
| Q4 24 | $705.3M | $209.8M | ||
| Q3 24 | $716.4M | $397.5M | ||
| Q2 24 | $685.3M | $366.9M | ||
| Q1 24 | $679.2M | $324.5M |
| Q4 25 | $2.1B | $5.2B | ||
| Q3 25 | $2.1B | $5.3B | ||
| Q2 25 | $2.0B | $4.8B | ||
| Q1 25 | $2.0B | $4.6B | ||
| Q4 24 | $2.1B | $4.3B | ||
| Q3 24 | $2.1B | $4.0B | ||
| Q2 24 | $2.0B | $3.8B | ||
| Q1 24 | $2.0B | $3.8B |
| Q4 25 | 1.25× | — | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.32× | 1.75× | ||
| Q1 25 | 1.32× | 1.50× | ||
| Q4 24 | 1.24× | 0.81× | ||
| Q3 24 | 1.22× | 0.43× | ||
| Q2 24 | 1.28× | 0.47× | ||
| Q1 24 | 1.29× | 0.46× |
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 | $27.2M |
| Free Cash FlowOCF − Capex | $49.3M | $26.7M |
| FCF MarginFCF / Revenue | 6.6% | 4.6% |
| Capex IntensityCapex / Revenue | 2.1% | 0.1% |
| Cash ConversionOCF / Net Profit | 0.85× | — |
| TTM Free Cash FlowTrailing 4 quarters | $300.8M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.9M | $27.2M | ||
| Q3 25 | $124.0M | $16.2M | ||
| Q2 25 | $90.4M | $46.3M | ||
| Q1 25 | $92.1M | $-66.5M | ||
| Q4 24 | $74.8M | $27.6M | ||
| Q3 24 | $101.4M | $53.7M | ||
| Q2 24 | $79.0M | $50.2M | ||
| Q1 24 | $84.8M | $7.6M |
| Q4 25 | $49.3M | $26.7M | ||
| Q3 25 | $104.8M | $15.9M | ||
| Q2 25 | $74.8M | $45.2M | ||
| Q1 25 | $71.9M | $-69.2M | ||
| Q4 24 | $52.9M | $27.0M | ||
| Q3 24 | $77.3M | $52.4M | ||
| Q2 24 | $58.2M | $49.6M | ||
| Q1 24 | $63.0M | $6.7M |
| Q4 25 | 6.6% | 4.6% | ||
| Q3 25 | 13.5% | 3.5% | ||
| Q2 25 | 9.8% | 12.4% | ||
| Q1 25 | 10.5% | -18.3% | ||
| Q4 24 | 7.1% | 8.0% | ||
| Q3 24 | 10.2% | 19.3% | ||
| Q2 24 | 7.9% | 26.6% | ||
| Q1 24 | 9.1% | 1.9% |
| Q4 25 | 2.1% | 0.1% | ||
| Q3 25 | 2.5% | 0.1% | ||
| Q2 25 | 2.1% | 0.3% | ||
| Q1 25 | 2.9% | 0.7% | ||
| Q4 24 | 2.9% | 0.2% | ||
| Q3 24 | 3.2% | 0.5% | ||
| Q2 24 | 2.8% | 0.3% | ||
| Q1 24 | 3.1% | 0.3% |
| Q4 25 | 0.85× | — | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | 1.12× | — | ||
| Q3 24 | 1.48× | 3.05× | ||
| Q2 24 | 1.21× | 3.76× | ||
| Q1 24 | 1.52× | 0.25× |
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% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
