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Side-by-side financial comparison of Installed Building Products, Inc. (IBP) and TRUPANION, INC. (TRUP). 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 $376.9M, roughly 2.0× TRUPANION, INC.). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs -0.4%). Installed Building Products, Inc. produced more free cash flow last quarter ($49.3M vs $25.3M). Over the past eight quarters, TRUPANION, INC.'s revenue compounded faster (11.0% 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.
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
IBP vs TRUP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $747.5M | $376.9M |
| Net Profit | $76.6M | — |
| Gross Margin | 35.0% | 17.3% |
| Operating Margin | 14.6% | 1.9% |
| Net Margin | 10.2% | — |
| Revenue YoY | -0.4% | 11.7% |
| Net Profit YoY | 14.5% | — |
| EPS (diluted) | $2.81 | $0.13 |
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 | $376.9M | ||
| Q3 25 | $778.2M | $366.9M | ||
| Q2 25 | $760.3M | $353.6M | ||
| Q1 25 | $684.8M | $342.0M | ||
| Q4 24 | $750.2M | $337.3M | ||
| Q3 24 | $760.6M | $327.5M | ||
| Q2 24 | $737.6M | $314.8M | ||
| Q1 24 | $692.9M | $306.1M |
| Q4 25 | $76.6M | — | ||
| Q3 25 | $74.4M | — | ||
| Q2 25 | $69.0M | — | ||
| Q1 25 | $45.4M | — | ||
| Q4 24 | $66.9M | — | ||
| Q3 24 | $68.6M | — | ||
| Q2 24 | $65.2M | — | ||
| Q1 24 | $55.9M | — |
| Q4 25 | 35.0% | 17.3% | ||
| Q3 25 | 34.0% | 16.4% | ||
| Q2 25 | 34.2% | 15.5% | ||
| Q1 25 | 32.7% | 14.9% | ||
| Q4 24 | 33.6% | 15.7% | ||
| Q3 24 | 33.8% | 15.1% | ||
| Q2 24 | 34.1% | 12.8% | ||
| Q1 24 | 33.8% | 11.8% |
| Q4 25 | 14.6% | 1.9% | ||
| Q3 25 | 13.7% | 1.6% | ||
| Q2 25 | 13.3% | 0.7% | ||
| Q1 25 | 10.2% | -0.4% | ||
| Q4 24 | 13.1% | 0.1% | ||
| Q3 24 | 13.3% | 0.5% | ||
| Q2 24 | 12.9% | -1.7% | ||
| Q1 24 | 12.7% | -2.0% |
| Q4 25 | 10.2% | — | ||
| Q3 25 | 9.6% | — | ||
| Q2 25 | 9.1% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 9.0% | — | ||
| Q2 24 | 8.8% | — | ||
| Q1 24 | 8.1% | — |
| Q4 25 | $2.81 | $0.13 | ||
| Q3 25 | $2.74 | $0.13 | ||
| Q2 25 | $2.52 | $0.22 | ||
| Q1 25 | $1.64 | $-0.03 | ||
| Q4 24 | $2.39 | $0.04 | ||
| Q3 24 | $2.44 | $0.03 | ||
| Q2 24 | $2.30 | $-0.14 | ||
| Q1 24 | $1.97 | $-0.16 |
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 | $370.7M |
| Total DebtLower is stronger | $886.6M | $101.8M |
| Stockholders' EquityBook value | $709.9M | $383.9M |
| Total Assets | $2.1B | $915.0M |
| Debt / EquityLower = less leverage | 1.25× | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $321.9M | $370.7M | ||
| Q3 25 | $333.3M | $348.5M | ||
| Q2 25 | $305.2M | $319.6M | ||
| Q1 25 | $298.7M | $321.8M | ||
| Q4 24 | $327.6M | $307.4M | ||
| Q3 24 | $406.2M | $293.1M | ||
| Q2 24 | $380.3M | $277.2M | ||
| Q1 24 | $399.9M | $275.2M |
| Q4 25 | $886.6M | $101.8M | ||
| Q3 25 | $880.8M | — | ||
| Q2 25 | $876.1M | — | ||
| Q1 25 | $872.4M | — | ||
| Q4 24 | $874.8M | $127.5M | ||
| Q3 24 | $872.3M | — | ||
| Q2 24 | $875.8M | — | ||
| Q1 24 | $875.0M | — |
| Q4 25 | $709.9M | $383.9M | ||
| Q3 25 | $678.6M | $368.6M | ||
| Q2 25 | $664.5M | $355.5M | ||
| Q1 25 | $660.9M | $333.7M | ||
| Q4 24 | $705.3M | $323.3M | ||
| Q3 24 | $716.4M | $320.2M | ||
| Q2 24 | $685.3M | $305.8M | ||
| Q1 24 | $679.2M | $303.4M |
| Q4 25 | $2.1B | $915.0M | ||
| Q3 25 | $2.1B | $880.2M | ||
| Q2 25 | $2.0B | $847.8M | ||
| Q1 25 | $2.0B | $837.2M | ||
| Q4 24 | $2.1B | $806.9M | ||
| Q3 24 | $2.1B | $816.1M | ||
| Q2 24 | $2.0B | $795.9M | ||
| Q1 24 | $2.0B | $789.5M |
| Q4 25 | 1.25× | 0.27× | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.32× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 1.24× | 0.39× | ||
| 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 | $29.3M |
| Free Cash FlowOCF − Capex | $49.3M | $25.3M |
| FCF MarginFCF / Revenue | 6.6% | 6.7% |
| Capex IntensityCapex / Revenue | 2.1% | 1.0% |
| Cash ConversionOCF / Net Profit | 0.85× | — |
| TTM Free Cash FlowTrailing 4 quarters | $300.8M | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.9M | $29.3M | ||
| Q3 25 | $124.0M | $29.2M | ||
| Q2 25 | $90.4M | $15.0M | ||
| Q1 25 | $92.1M | $16.0M | ||
| Q4 24 | $74.8M | $23.7M | ||
| Q3 24 | $101.4M | $15.3M | ||
| Q2 24 | $79.0M | $6.9M | ||
| Q1 24 | $84.8M | $2.4M |
| Q4 25 | $49.3M | $25.3M | ||
| Q3 25 | $104.8M | $23.9M | ||
| Q2 25 | $74.8M | $12.0M | ||
| Q1 25 | $71.9M | $14.0M | ||
| Q4 24 | $52.9M | $21.8M | ||
| Q3 24 | $77.3M | $13.4M | ||
| Q2 24 | $58.2M | $4.0M | ||
| Q1 24 | $63.0M | $-631.0K |
| Q4 25 | 6.6% | 6.7% | ||
| Q3 25 | 13.5% | 6.5% | ||
| Q2 25 | 9.8% | 3.4% | ||
| Q1 25 | 10.5% | 4.1% | ||
| Q4 24 | 7.1% | 6.5% | ||
| Q3 24 | 10.2% | 4.1% | ||
| Q2 24 | 7.9% | 1.3% | ||
| Q1 24 | 9.1% | -0.2% |
| Q4 25 | 2.1% | 1.0% | ||
| Q3 25 | 2.5% | 1.4% | ||
| Q2 25 | 2.1% | 0.8% | ||
| Q1 25 | 2.9% | 0.6% | ||
| Q4 24 | 2.9% | 0.6% | ||
| Q3 24 | 3.2% | 0.6% | ||
| Q2 24 | 2.8% | 0.9% | ||
| Q1 24 | 3.1% | 1.0% |
| Q4 25 | 0.85× | — | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | 1.12× | — | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 1.21× | — | ||
| Q1 24 | 1.52× | — |
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% |
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
