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Friday 6 November 2026
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Legence Corp.
LGN Industrials Engineering & Construction
Legence Corp.’s revenue for fiscal 2025 (year ended December 2025) was $2.6 billion, up 21.5% from fiscal 2024.
- Revenue
- +110.7%
- Free cash flow
- +106.8%
- Total debt
- −35.7%
Quarter to June 2026, against a year earlier
27.49
2.08
+8.19%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 1,615 | 2,099 | 2,550 | 3,746 | +25.7% | 337 | 420 | 337 | (49.1%) | |
| Gross margin, % | — | — | — | — | — | — | — | 19.51 | 20.53 | 21.01 | 18.74 | +1.5 pt | ||||||
| EBT | — | — | — | — | — | — | — | (54) | (23) | (55) | (61) | +1.1% | ||||||
| EBT margin, % | — | — | — | — | — | — | — | (3.34) | (1.10) | (2.16) | (1.63) | +1.2 pt | ||||||
| Net income | — | — | — | — | — | — | — | (46) | (28) | (77) | (71) | +29.6% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | 0.00 | 0.00 | 42.95 | 49.26 | n/m | |||||
| Earnings | — | — | — | — | — | — | — | — | — | (0.57) | (0.67) | — | ||||||
| Cash flow | — | — | — | — | — | — | — | 0.00 | 0.00 | 4.33 | 5.11 | n/m | ||||||
| Capex | — | — | — | — | — | — | — | 0.00 | 0.00 | (0.63) | (0.86) | n/m | ||||||
| Free cash flow | — | — | — | — | — | — | — | 0.00 | 0.00 | 3.69 | 4.26 | n/m | ||||||
| Book value | — | — | — | — | — | — | — | 0.00 | 0.00 | 13.28 | 12.86 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | — | — | — | 59 | 65 | — | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | 0.00 | 0.00 | 1.00 | 0.52 | 0.3 | ||||||
| P/B | — | — | — | — | — | — | — | 0.00 | 0.00 | 3.24 | 1.99 | 1.1 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 0.00 | 0.00 | 1.24 | 0.72 | 0.4 | ||||||
| EV/FCF | — | — | — | — | — | — | — | 25.86 | 25.86 | 14.38 | 8.31 | 22.0 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | 34 | 29 | 257 | 389 | +175.2% | |||||
| Capex | — | — | — | — | — | — | — | (17) | (19) | (38) | (65) | +49.9% | ||||||
| Free cash flow | — | — | — | — | — | — | — | 17 | 11 | 219 | 324 | +257.1% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | — | 345 | 402 | 424 | +16.5% | |||||
| Net debt | — | — | — | — | — | — | — | — | 1,528 | 599 | 743 | (60.8%) | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | — | 204 | 789 | 978 | +287.4% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | 0.00 | (2.43) | (2.38) | (2.41) | (2.4) pt | |||||
| ROIC | — | — | — | — | — | — | — | 0.00 | 2.54 | 2.77 | 1.07 | +2.8 pt | ||||||
| ROE | — | — | — | — | — | — | — | 0.00 | 0.00 | (12.05) | (7.63) | (12.0) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | 6,000 | 7,000 | — | +16.7% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | 0.00 | 0.35 | 0.36 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Legence Corp. vs peers in Engineering & Construction (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| KBR KBR, Inc. | $4.8B | 10.8× | 11.0× | +5.02% (above 0%: growing) | +19.93% (above 0%: growing) | −14.21% (below 0%: shrinking) | 14.84% | 9.17% | Compare |
| TPC Tutor Perini Corporation | $4.3B | 30.5× | 20.2× | +21.54% (above 0%: growing) | +457.14% (above 0%: growing) | +21.22% (above 0%: growing) | 12.87% | 7.29% | Compare |
| EXPO Exponent, Inc. | $4.1B | 36.8× | 34.0× | +18.09% (above 0%: growing) | +16.89% (above 0%: growing) | −14.24% (below 0%: shrinking) | 88.10% | 24.10% | Compare |
| MYRG MYR Group, Inc. | $3.8B | 19.9× | 21.2× | +32.47% (above 0%: growing) | +86.07% (above 0%: growing) | −84.04% (below 0%: shrinking) | 13.60% | 6.76% | Compare |
| ECG Everus Construction Group, Inc. | $3.7B | 12.8× | — | +40.27% (above 0%: growing) | +60.60% (above 0%: growing) | −20.67% (below 0%: shrinking) | 14.81% | 8.84% | Compare |
| AGX Argan, Inc. | $3.7B | 20.3× | 25.8× | +61.51% (above 0%: growing) | +47.86% (above 0%: growing) | +178.70% (above 0%: growing) | 19.33% | 14.79% | Compare |
| PRIM Primoris Services Corporation | $3.2B | 33.5× | 57.6× | −10.38% (below 0%: shrinking) | −45.21% (below 0%: shrinking) | −33.74% (below 0%: shrinking) | 10.48% | 4.86% | Compare |
| CDLR Cadeler A/S Sponsored ADR | $2.9B | — (loss-making) | — | +122.12% (above 0%: growing) | n/m | +99.04% (above 0%: growing) | 21.46% | 6.24% | Compare |
| LGN Legence Corp. | $2.8B | — (loss-making) | 15.4× | +110.74% (above 0%: growing) | n/m | +106.83% (above 0%: growing) | 17.45% | (0.52%) | |
| Median of peers | $3.8B | 20.3× | 23.5× | +27.01% | +47.86% | −14.22% | 14.83% | 8.07% |
Pay and ownership Proxy statement filed 29 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 8.28m | 11.99m | 141.11 |
Ownership
Directors and executive officers, together
less than 1% of the votes
Legence Parent ML LLC
29.00% of the votes
Legence Parent II ML LLC
18.00% of the votes
FMR LLC
4.00% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Legence Corp. (LGN) Latest News
13 Aug
15 May
14 May
LGN metrics, ten years each
- Revenue
- Net income
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Book value per share