LMBNasdaqConstruction - Special Trade ContractorsFiscal year ends December 31
Limbach Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$48.55−0.14 (-0.29%)
Close on Oct 19, 2026
- Market cap
- $584.55M
- P/E (TTM)
- 19.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
26.2%+11.9 pts over 5 years
Operating margin
7.6%+4.6 pts over 5 years
Net margin
6.0%+5.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +24.7% | +9.2% | +2.6% | – | |
| Gross profit | +17.4% | +21.8% | +15.8% | – | |
| Operating income | +28.0% | +60.3% | +23.6% | – | |
| Net income | +26.5% | +79.1% | +46.4% | – | |
| EPS, diluted | +25.7% | +71.5% | +35.0% | – | |
| Free cash flow | +43.2% | +6.8% | +1.8% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 11.5% | 22.4% | |
| Return on assets | – | 2.2% | 10.7% | |
| Current ratio | 1.22 | 1.33 | 1.44 | |
| Debt to equity | 0.55 | 0.80 | 0.18 | |
| Net debt to EBITDA | – | 0.03× | 0.36× | |
| Interest coverage | – | – | 15.8× | |
| Capex to revenue | – | 0.3% | 0.6% | |
| Diluted shares | – | 8M | 12M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Limbach generated $199.46M from operations and spent $17.38M on capital expenditure, dividends and share buybacks. 88% of that went back into the business.
Generated
$199.46M
Used
$17.38M
Capital expenditure$15.38M88%Dividends$00%Share buybacks$2.00M12%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin6.0%
×Asset turnover1.76×
×Equity multiplier2.10×
=Return on equity, FY202522.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 6.0% | 1.76× | 2.10× | 22.4% |
| FY2024 | 6.0% | 1.58× | 2.39× | 22.5% |
| FY2023 | 4.0% | 1.72× | 2.77× | 19.2% |
| FY2022 | 1.4% | 1.77× | 3.07× | 7.4% |
| FY2021 | 1.4% | 1.85× | 3.74× | 9.5% |
| FY2020 | 1.0% | 2.17× | 5.21× | 11.5% |
| FY2019 | -0.3% | 2.15× | 5.53× | -3.8% |
| FY2018 | -0.3% | 2.34× | 4.94× | -3.9% |
| FY2017 | 0.1% | 2.31× | 4.39× | 1.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$39.06M
- Cash generatingOperating cash flow above zero$45.70M
- Return on assets improvedROA up on the prior year10.1% → 11.1%
- Earnings backed by cashOperating cash flow above net income$45.70M vs $39.06M
- Less leverageLong-term debt to assets fell6.7% → 8.0%
- Better liquidityCurrent ratio rose1.46 → 1.44
- No dilutionShare count did not rise12M → 12M
- Gross margin improvedGross margin up on the prior year27.81% → 26.18%
- More efficientAsset turnover rose1.70 → 1.84