Limbach Holdings, Inc. (LMB) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.34	$0.36	+5.9%	—	$173.5M	—
Q1 26	$0.21	$0.64	+204.8%	—	$138.9M	—
Q4 25	$1.24	$1.4	+12.9%	—	$186.9M	—
Q2 25	$0.77	$0.93	+20.8%	—	$142.2M	—
Q1 25	$0.43	$1.12	+160.5%	—	$133.1M	—
Q4 24	$0.77	$1.15	+49.4%	—	$143.7M	—
Q3 24	$0.46	$0.75	+63.0%	—	$133.9M	—
Q2 24	$0.37	$0.72	+94.6%	—	$122.2M	—
Q1 24	$0.32	$0.69	+115.6%	—	$119M	—
Q4 23	$0.4	$0.54	+35.0%	—	$142.7M	—
Q3 23	$0.32	$0.61	+90.6%	—	$127.8M	—
Q2 23	$0.16	$0.46	+187.5%	—	$124.9M	—
Q1 23	$0.05	$0.27	+440.0%	—	$121M	—
Q4 22	$0.32	$0.35	+9.4%	—	$143.5M	—
Q3 22	$0.19	$0.34	+78.9%	—	$122.4M	—
Q2 22	$0.09	$0.08	-11.1%	—	$116.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.37	—	—	$646.8M	—
FY24	—	$2.75	—	—	$518.8M	—
FY23	—	$1.93	—	—	$516.4M	—
FY22	—	$0.65	—	—	$496.8M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	—	$485.7M	$546.5M	$553.3M	$568.2M	$490.4M	$496.8M	$516.4M	$518.8M	$646.8M
YoY change	—	—	+12.5%	+1.25%	+2.69%	-13.7%	+1.31%	+3.94%	+0.47%	+24.7%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	—	485.7M	546.5M	553.3M	568.2M	490.4M	496.8M	516.4M	518.8M	646.8M
Cost of revenue	—	420.1M	487.1M	481.5M	486.8M	404.4M	403M	397.1M	374.5M	477.5M
Gross profit	—	65.6M	59.4M	71.9M	81.4M	85.9M	93.7M	119.3M	144.3M	169.3M
Gross margin	—	13.5%	10.9%	13%	14.3%	17.5%	18.9%	23.1%	27.8%	26.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	56M	57.1M	63.2M	63.6M	71.4M	77.9M	87.4M	97.2M	109.5M
Operating expenses	—	56M	57.1M	63.2M	63.6M	71.4M	77.9M	87.4M	97.2M	109.5M
Operating income	—	6M	1.1M	8.1M	17.2M	14M	14.3M	30M	42.4M	51.4M
Operating margin	—	1.24%	0.2%	1.46%	3.02%	2.85%	2.88%	5.81%	8.17%	7.95%
Non-operating income, net	—	-121K	-245K	-3.8M	-1.5M	-1.9M	-2.5M	-1.1M	-2.8M	-492K
Pretax income	—	3.9M	-2.5M	-2.1M	7M	9.5M	9.6M	28.1M	40M	48.6M
Income tax	—	3.2M	-635K	-282K	1.2M	2.8M	2.8M	7.3M	9.1M	9.6M
Net income	—	712K	-1.8M	-1.8M	5.8M	6.7M	6.8M	20.8M	30.9M	39.1M
Net margin	—	0.15%	-0.34%	-0.32%	1.02%	1.37%	1.37%	4.02%	5.95%	6.04%
EBITDA	—	15.3M	7M	18.2M	23.3M	19.9M	22.5M	39.5M	56.5M	70.4M
EPS	0	-0.13	-0.52	-0.23	0.74	0.67	0.65	1.93	2.75	3.37
Diluted EPS	0	-0.13	-0.52	-0.23	0.72	0.66	0.64	1.76	2.57	3.23

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	127.8M	142.7M	119M	122.2M	133.9M	143.7M	133.1M	142.2M	184.6M	186.9M	138.9M	173.5M
Cost of revenue	96.5M	109.4M	87.9M	88.7M	97.8M	100.1M	96.4M	102.4M	139.9M	138.8M	107.7M	136.2M
Gross profit	31.2M	33.3M	31.1M	33.5M	36.1M	43.6M	36.7M	39.8M	44.7M	48.1M	31.2M	37.3M
Gross margin	24.5%	23.3%	26.1%	27.4%	27%	30.3%	27.6%	28%	24.2%	25.7%	22.4%	21.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	21M	25M	22.9M	23.2M	23.7M	27.4M	26.5M	26.6M	28.3M	28M	28.1M	28.1M
Operating expenses	21M	25M	22.9M	23.2M	23.7M	27.4M	26.5M	26.6M	28.3M	28M	28.1M	28.1M
Operating income	10M	7.5M	7.2M	9.3M	11.5M	14.4M	8.3M	11.4M	14M	17.7M	1.3M	7.5M
Operating margin	7.82%	5.27%	6.01%	7.61%	8.59%	10.1%	6.26%	8.04%	7.56%	9.48%	0.92%	4.31%
Non-operating income, net	23K	-490K	17K	-1.1M	-778K	-968K	-191K	-444K	-265K	408K	127K	-127K
Pretax income	10M	7.2M	7.3M	8.4M	10.9M	13.5M	8M	10.8M	12.6M	17.3M	723K	6.6M
Income tax	2.8M	1.9M	-327K	2.4M	3.4M	3.6M	-2.2M	3M	3.8M	5M	-3.7M	1.8M
Net income	7.2M	5.2M	7.6M	6M	7.5M	9.8M	10.2M	7.8M	8.8M	12.3M	4.4M	4.7M
Net margin	5.63%	3.68%	6.38%	4.88%	5.59%	6.85%	7.67%	5.46%	4.76%	6.58%	3.15%	2.74%
EBITDA	12.3M	10.6M	10.4M	12.7M	14.9M	18.6M	12.8M	15.7M	19.1M	22.8M	5.7M	11.8M
EPS	0.66	—	0.68	0.53	0.66	0.87	0.89	0.67	0.76	1.06	0.37	0.4
Diluted EPS	0.61	—	0.64	0.5	0.62	0.82	0.85	0.64	0.73	1.02	0.36	0.39

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	103.3M	27.8M	29M	97M	—	108.5M	489.9M	961.8M	901.1M	578.9M
Enterprise value	—	137.4M	53M	85.9M	117.3M	—	122.8M	472M	965.6M	945.6M	656M
Shares outstanding	—	7.5M	7.6M	7.7M	7.9M	10M	10.4M	10.8M	11.2M	11.6M	11.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	145.1	—	—	16.7	—	16	23.6	31.2	23.1	20.5
P/S	—	0.21	0.05	0.05	0.17	—	0.22	0.95	1.85	1.39	0.9
P/B	—	1.84	0.6	0.62	1.8	—	1.14	4.05	6.27	4.61	3.02
EV/EBITDA	—	9.01	7.57	4.72	5.03	—	5.47	12	17.1	13.4	11.1
EV/Sales	—	0.28	0.1	0.16	0.21	—	0.25	0.91	1.86	1.46	0.96
Earnings yield	—	0.69%	—	—	5.99%	—	6.26%	4.24%	3.21%	4.34%	4.88%
FCF yield	—	-7.13%	77.1%	-12.4%	39.5%	—	31.7%	11.2%	3.04%	4.65%	6.61%
PEG	—	—	—	—	—	—	—	—	—	—	-0.51

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	—	13.5%	10.9%	13%	14.3%	17.5%	18.9%	23.1%	27.8%	26.2%	21.5%
Operating margin	—	1.24%	0.2%	1.46%	3.02%	2.85%	2.88%	5.81%	8.17%	7.95%	4.31%
Net margin	—	0.15%	-0.34%	-0.32%	1.02%	1.37%	1.37%	4.02%	5.95%	6.04%	4.42%
ROE	—	1.27%	-3.98%	-3.79%	10.8%	7.64%	7.12%	17.2%	20.1%	20%	16.2%
ROA	—	0.33%	-0.73%	-0.68%	2.22%	2.51%	2.31%	6.82%	8.77%	10.2%	6.77%
ROIC	—	1.23%	1.5%	7.77%	19.3%	7.4%	9.22%	21.5%	20.8%	17.2%	13.4%
Return on tangible assets	—	0.44%	-0.89%	-0.79%	2.56%	3.18%	2.82%	9.36%	15.2%	27.6%	18.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.22	1.23	1.13	1.25	1.33	1.49	1.42	1.5	1.46	1.44	1.49
Quick ratio	1.22	1.23	1.13	1.25	1.33	1.49	1.42	1.5	1.46	1.44	1.49
Debt / equity	0.45	0.62	0.58	1.39	1.16	0.69	0.53	0.35	0.32	0.29	0.29
Debt / assets	0.13	0.16	0.11	0.25	0.24	0.23	0.17	0.14	0.14	0.15	0.15
Net debt / EBITDA	—	2.23	3.59	3.13	0.87	2.32	0.64	-0.45	0.07	0.63	0.71
Interest coverage	—	—	—	—	1.81	4.69	5.48	14.7	22.4	16.5	11.6
Effective tax rate	—	81.6%	0%	0%	16.9%	29.2%	29.2%	26.1%	22.7%	19.7%	18.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	—	65	72.3	72.2	72.2	49	47.7	47.9	46.1	55.9	58.3
EPS (basic)	0	-0.13	-0.52	-0.23	0.74	0.67	0.65	1.93	2.75	3.37	3.37
EPS (diluted)	0	-0.13	-0.52	-0.23	0.72	0.66	0.64	1.76	2.57	3.23	2.51
Book value per share	—	7.51	6.13	6.12	6.83	8.77	9.16	11.2	13.7	16.9	17
FCF per share	—	-0.99	2.84	-0.47	4.87	-2.5	3.3	5.11	2.6	3.62	4.2
Cash per share	—	0.08	0.21	1.09	5.36	1.45	3.45	5.55	4	0.98	1.47
Capex per share	—	0.43	0.49	0.33	0.17	0.03	0.05	0.17	0.53	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	0.67%	0.67%	0.45%	0.23%	0.07%	0.1%	0.35%	1.15%	—	—
Capex / operating cash flow	—	-83.2%	-208%	8.38%	4.15%	-1.32%	1.33%	3.32%	17.9%	—	—
Payout ratio	—	34.4%	-47.4%	—	—	—	—	—	—	—	0%
Dividend yield	—	0.24%	3.14%	—	—	—	—	—	—	—	—

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$127.8M	$142.7M	$119M	$122.2M	$133.9M	$143.7M	$133.1M	$142.2M	$184.6M	$186.9M	$138.9M	$173.5M
YoY change	+4.42%	-0.55%	-1.68%	-2.12%	+4.81%	+0.67%	+11.9%	+16.4%	+37.8%	+30.1%	+4.32%	+21.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	7.4M	626K	1.6M	8.3M	42.1M	14.5M	36M	59.8M	44.9M	11.3M
Receivables	90.3M	103.5M	135.7M	105.1M	85.8M	89.3M	124.4M	97.8M	119.7M	133.2M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	155.2M	166.3M	205M	195.4M	199.4M	192.9M	226M	217M	220.3M	195M
Property, plant & equipment	13.5M	11.8M	13.5M	34.6M	30.7M	31M	26M	29.6M	40.2M	48.1M
Goodwill & intangibles	56.6M	49.4M	46.9M	36.9M	35.6M	56.6M	53.4M	82.7M	148.5M	239.6M
Total assets	206.9M	213M	253.6M	261.6M	262.2M	267.5M	294.6M	304.4M	352.1M	381.1M
Accounts payable	57M	67.4M	74.4M	86.3M	66.8M	63.8M	75.1M	65.3M	60.8M	74.2M
Short-term debt	4.5M	14.1M	3.1M	8.2M	10.5M	14.2M	13.1M	6.3M	7.4M	9.4M
Total current liabilities	126.7M	135.5M	182.1M	156.9M	150.3M	129.7M	159.1M	145.1M	151M	135.1M
Long-term debt	21.5M	20.6M	23.6M	57.1M	52M	46.4M	37.2M	35.7M	41.3M	46.5M
Total liabilities	149.1M	156.9M	207.3M	214.7M	208.4M	179.7M	199.1M	183.5M	198.6M	185.5M
Shareholders' equity	57.8M	56.1M	46.4M	46.9M	53.7M	87.8M	95.4M	120.9M	153.5M	195.7M
Total debt	26M	34.7M	26.8M	65.3M	62.4M	60.6M	50.3M	42M	48.7M	55.9M
Net debt	18.6M	34.1M	25.1M	56.9M	20.3M	46.2M	14.3M	-17.9M	3.8M	44.5M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	9.8M	11.3M	15.8M	17.5M
Receivables	—	—	—	—	—	—	—	—	142.5M	133.2M	120.5M	149.3M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	216.8M	195M	191.8M	223.1M
Property, plant & equipment	—	—	—	—	—	—	—	—	66.7M	48.1M	60.2M	57.4M
Goodwill & intangibles	—	—	—	—	—	—	—	—	242.5M	239.6M	236.2M	236.8M
Total assets	—	—	—	—	—	—	—	—	409.1M	381.1M	377M	404M
Accounts payable	—	—	—	—	—	—	—	—	65.9M	74.2M	62.1M	80.3M
Short-term debt	—	—	—	—	—	—	—	—	9.5M	9.4M	9.5M	9.5M
Total current liabilities	—	—	—	—	—	—	—	—	151.2M	135.1M	112.4M	150.2M
Long-term debt	—	—	—	—	—	—	—	—	73.2M	46.5M	67M	50.1M
Total liabilities	—	—	—	—	—	—	—	—	227.6M	185.5M	180.6M	200.9M
Shareholders' equity	—	—	—	—	—	—	—	—	181.6M	195.7M	196.3M	203.1M
Total debt	—	—	—	—	—	—	—	—	82.8M	55.9M	76.5M	59.6M
Net debt	—	—	—	—	—	—	—	—	72.9M	44.5M	60.7M	42.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	4.4M	712K	-1.8M	-1.8M	5.8M	6.7M	6.8M	20.8M	30.9M	39.1M
Depreciation & amortization	2.6M	9.1M	5.7M	6.3M	6.2M	5.9M	8.2M	8.2M	11.9M	18.1M
Stock-based compensation	0	1.7M	2.2M	1.8M	1.1M	2.6M	2.7M	4.9M	5.8M	7M
Change in working capital	-15.7M	-16.2M	-7.4M	18.9M	13.9M	-46.1M	12.5M	18.2M	-20.5M	-15.4M
Operating cash flow	-6M	-3.9M	-1.8M	29.8M	31.8M	-24.5M	37.2M	55.2M	33.4M	45.7M
Capital expenditure	-2.3M	-3.2M	-3.7M	-2.5M	-1.3M	-324K	-495K	-1.8M	-6M	—
Investing cash flow	-2.3M	-3.2M	-3.7M	-2.5M	-1.3M	-19.3M	-495K	-17.1M	-42.6M	-65.7M
Dividends paid	-124K	-245K	-875K	—	—	—	—	—	—	—
Share repurchases	—	-3.8M	-9.2M	—	—	0	-2M	0	0	—
Financing cash flow	-788K	519K	-20.6M	9.2M	-12.1M	13.6M	-13.7M	-16.9M	-9.6M	-12.4M
Net change in cash	-9.2M	-6.6M	-26.1M	36.4M	18.4M	-30.3M	23.1M	21.2M	-18.7M	-32.3M
Free cash flow	-1.8M	-7.4M	21.4M	-3.6M	38.3M	-25M	34.4M	55.1M	29.3M	41.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	7.2M	5.2M	7.6M	6M	7.5M	9.8M	10.2M	7.8M	8.8M	12.3M	4.4M	4.7M
Depreciation & amortization	1.9M	2.5M	2.7M	2.8M	2.7M	3.6M	4.1M	3.9M	5.1M	5.1M	4.4M	4.3M
Stock-based compensation	1.1M	1.5M	1.2M	1.5M	1.6M	1.4M	1.6M	1.6M	2M	1.8M	1.9M	2.1M
Change in working capital	2.1M	2.5M	-10.4M	4.2M	-12.3M	-2M	-2.4M	-10.5M	-4M	13.9M	-8.8M	456K
Operating cash flow	13.7M	12.7M	2.5M	15.2M	326K	15.4M	12.3M	2M	13.3M	28.1M	-7.8M	18.7M
Capital expenditure	-126K	-481K	-2M	-3.3M	222K	-972K	-1.9M	—	—	—	—	—
Investing cash flow	-126K	-10.9M	-2M	-3.3M	-12.5M	-24.8M	-1.9M	—	-65.7M	0	1K	0
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-689K	-742K	-5.9M	-2M	-901K	-749K	-7.5M	-1M	23.2M	-27M	11.9M	-16.5M
Net change in cash	12.9M	1.1M	-5.3M	9.9M	-13.1M	-10.2M	2.9M	960K	-29.1M	1.1M	4.1M	2.2M
Free cash flow	16.9M	13.4M	-6.5M	13.2M	4.6M	18M	11K	1.2M	12.8M	27.9M	-8.2M	18.1M

Limbach Holdings, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement