Saturday 17 October 2026 Export LMB’s income statement to Excel — free account

Limbach Holdings, Inc.

LMB Industrials Building Products & Equipment

Limbach Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $646.8 million, up 24.7% from fiscal 2024. In the quarter to June 2026, revenue grew 22.0%, EPS fell 40.3%, free cash flow grew 931.2% and total debt rose 24.0%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.

48.69 0.89 +1.86%

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Market cap: $570.0M
P/E: 18.8×
Fwd P/E: 20.2×
Dividend yield: —
F-score: 5/9
Altman Z: 5.60
Beneish M: −2.23
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.52

Total sells 3.15

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	3	—
Sell	—	1	—	—	2	4	—	1	—	—	1	—

Insider Ownership 6.89%

Capital & Financial Ratios $m

Market Cap 570.02

Revenue 683.77

Net Income 30.22

Free Cash Flow 51.94

Net Debt 23.11

Current Ratio 1.49

Debt/Equity 0.20

P/E ratio 18.80

Fwd P/E 20.20

P/S ratio 0.85

P/B ratio 2.86

Past 5Y EPS Growth 35.01%

This Y EPS Growth (11.55%)

Next Y EPS Growth 16.57%

Next Y revenue growth 23.64%

Next 5Y EPS Growth 5.26%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 29.05%

10-year low 10-year high

P/S against its own 10 years 73.54%

10-year low 10-year high

P/B against its own 10 years 67.27%

10-year low 10-year high

EV/Sales against its own 10 years 76.32%

10-year low 10-year high

EV/FCF against its own 10 years 47.27%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	60	45	11	18
Receivables	98	120	133	152
Inventory	—	—	—	—
Other	59	56	50	54
	217	220	195	223

	2023	2024	2025	Q'26
Payables	65	61	74	80
ST’ Debt	3	3	5	5
Other	42	45	21	35
	145	151	135	150

Compound Annual Growth %

	10y	5y	3y
Sales	6.92%	2.62%	9.19%
Cash Flow	54.08%	2.80%	8.91%
Earnings	24.48%	46.41%	79.11%
Book Value	37.32%	29.50%	27.03%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	139	173	—	—	—
’25	133	142	185	187	647
’24	119	122	134	144	519
’23	121	125	128	143	516
’22	115	116	122	143	497
’21	113	121	129	127	490
’20	139	135	164	130	568

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(8)	19	—	—	—
’25	2	2	13	28	46
’24	(4)	17	5	19	37
’23	9	17	17	14	57
’22	(3)	16	10	12	35
’21	(17)	(7)	8	(7)	(24)
’20	4	19	13	5	40

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(8)	18	—	—	—
’25	0	2	13	28	44
’24	(6)	13	5	18	31
’23	9	17	17	13	56
’22	(3)	15	10	12	35
’21	(17)	(7)	8	(8)	(25)
’20	3	19	12	4	38

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.36	0.39	—	—	—
’25	0.85	0.64	0.73	1.02	3.23
’24	0.64	0.50	0.62	0.82	2.57
’23	0.27	0.46	0.61	0.44	1.76
’22	(0.15)	0.08	0.34	0.35	0.64
’21	(0.25)	0.07	0.38	0.41	0.66
’20	(0.01)	0.37	0.31	0.05	0.72

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	6.75	11.14	3.56	2.60	2.37	5.83	4.90	10.39	35.24	63.02	Analyst estimates 2026–2028 Powerpack
	High	16.20	15.22	14.76	11.45	13.86	16.09	12.56	46.61	107.00	154.05
People
People	Employees	430	480	1,700	1,900	1,700	1,650	1,500	1,400	1,400	1,500
	Revenue/emp, $m	1.04	1.01	0.32	0.29	0.33	0.30	0.33	0.37	0.37	0.43
Income, $m
Income, $m	Revenue	447	486	547	553	568	490	497	516	519	647
	Gross margin, %	12.45	13.51	10.87	12.99	14.32	17.52	18.87	23.10	27.81	26.18
	EBT	(2)	4	(2)	(2)	7	9	10	28	40	49
	EBT margin, %	(0.45)	0.80	(0.45)	(0.37)	1.23	1.93	1.93	5.44	7.70	7.52
	Net income	2	1	(2)	(2)	6	7	7	21	31	39
	Depreciation	8	9	6	8	8	6	8	8	12	18
Per share, $
Per share, $	Revenue	74.01	65.01	72.27	72.21	72.24	48.97	47.65	47.93	46.14	55.88
	Earnings	0.25	(0.13)	(0.52)	(0.23)	0.74	0.67	0.65	1.93	2.75	3.37
	Cash flow	0.79	(0.54)	3.35	(0.12)	5.06	(2.42)	3.39	5.32	3.27	3.95
	Capex	(0.22)	(0.43)	(0.49)	(0.33)	(0.17)	(0.03)	(0.05)	(0.17)	(0.53)	(0.17)
	Free cash flow	0.57	(0.98)	2.86	(0.45)	4.89	(2.45)	3.35	5.15	2.74	3.78
	Book value	9.57	7.51	6.13	6.12	6.83	8.77	9.16	11.22	13.65	16.90
	Shares, m	6	7	8	8	8	10	10	11	11	12
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	16.59	14.29	16.88	22.77	31.22	23.03
	P/S	0.19	0.21	0.05	0.05	0.17	0.18	0.23	0.92	1.85	1.39
	P/B	1.78	2.15	0.60	0.62	1.80	1.03	1.20	3.92	6.27	4.61
	EV/Sales	0.23	0.27	0.10	0.12	0.17	0.24	0.22	0.84	1.82	1.43
	EV/FCF	29.81	(17.77)	2.44	(18.65)	2.54	(4.69)	3.14	7.85	30.64	21.14
Cash, $m
Cash, $m	Operating cash flow	5	(4)	25	(1)	40	(24)	35	57	37	46
	Capex	(1)	(3)	(4)	(2)	(1)	0	0	(2)	(6)	(2)
	Free cash flow	3	(7)	22	(3)	38	(25)	35	56	31	44
Balance, $m
Balance, $m	Working capital	28	31	23	39	49	63	67	72	69	60
	Total debt	26	27	27	43	43	40	31	22	27	36
	Net debt	18	26	25	35	1	25	(5)	(38)	(18)	24
	Shareholders’ equity	58	56	46	47	54	88	95	121	153	196
Returns, %
Returns, %	ROA	0.87	(0.45)	(1.69)	(0.69)	2.22	2.54	2.42	6.93	9.40	10.65
	ROIC	3.37	4.57	0.94	6.17	19.67	7.74	8.30	21.96	17.83	14.06
	ROE	5.20	(1.97)	(8.36)	(3.81)	11.54	9.49	7.42	19.18	22.50	22.38

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ARLO Arlo Technologies, Inc.	$1.3B	41.9×	46.1×	+20.50% (above 0%: growing)	0.00%	+45.21% (above 0%: growing)	48.23%	1.57%	Compare
ROCK Gibraltar Industries, Inc.	$1.2B	— (loss-making)	14.4×	+64.63% (above 0%: growing)	−68.18% (below 0%: shrinking)	−105.37% (below 0%: shrinking)	25.92%	11.74%	Compare
NPKI NPK International Inc.	$906.0M	21.6×	26.9×	+19.57% (above 0%: growing)	+40.00% (above 0%: growing)	−47.36% (below 0%: shrinking)	36.97%	19.72%	Compare
NX Quanex Building Products Corporation	$885.4M	19.1×	15.3×	+1.33% (above 0%: growing)	n/m	+3.58% (above 0%: growing)	28.19%	9.26%	Compare
APOG Apogee Enterprises, Inc.	$862.2M	12.9×	13.2×	+9.20% (above 0%: growing)	−1.82% (below 0%: shrinking)	−53.64% (below 0%: shrinking)	24.59%	8.56%	Compare
SWIM Latham Group, Inc.	$735.3M	122×	46.4×	+14.39% (above 0%: growing)	−21.43% (below 0%: shrinking)	+64.86% (above 0%: growing)	35.49%	12.71%	Compare
JBI Janus International Group, Inc.	$575.8M	17.3×	16.7×	+2.37% (above 0%: growing)	−46.67% (below 0%: shrinking)	−51.57% (below 0%: shrinking)	34.39%	8.82%	Compare
LMB Limbach Holdings, Inc.	$570.0M	18.8×	20.2×	+21.95% (above 0%: growing)	−40.30% (below 0%: shrinking)	+931.20% (above 0%: growing)	21.50%	4.18%
ASPN Aspen Aerogels, Inc.	$448.1M	— (loss-making)	— (loss-making)	−36.11% (below 0%: shrinking)	n/m	−7.06% (below 0%: shrinking)	6.55%	(57.74%)	Compare
Median of peers	$873.8M	20.3×	16.7×	+11.80%	−11.62%	−27.21%	31.29%	9.04%

All 35 Building Products & Equipment stocks →

Limbach Holdings, Inc. (LMB) key facts

Strength: Limbach Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $646.8 million, up 24.7% from fiscal 2024.
Limbach Holdings, Inc. (LMB) is a Building Products & Equipment company in the Industrials sector, listed on Nasdaq.
As of October 16, 2026, LMB traded at $48.69, a market capitalization of $570.0 million.
Return on equity was 22.4% and debt-to-equity 0.20.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 5.60 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.