Limbach Holdings, Inc. (LMB) vs Perma-Pipe International Holdings, Inc. (PPIH)

Limbach Holdings, Inc. and Perma-Pipe International Holdings, Inc. are both Building Products & Equipment companies. Limbach Holdings, Inc. is the larger, with a market value of $570.0M against $239.9M — 2.4× the size. Perma-Pipe International Holdings, Inc. trades at the lower P/E: 14.5× against 18.8×. Perma-Pipe International Holdings, Inc. grew revenue faster over the last twelve months: 24.8% against 23.7%. Perma-Pipe International Holdings, Inc. has the higher net margin (6.89% vs 4.42%) and the higher return on invested capital (18.0% vs 10.9%). Across the 22 metrics below, Perma-Pipe International Holdings, Inc. leads on 14 and Limbach Holdings, Inc. on 8.

Valuation

Metric LMB PPIH Building Products & Equipment median
P/E 18.80 14.54 23.15
P/S 0.85 1.01 2.02
P/B 2.86 2.44 2.81
Price to free cash flow 11.18 16.62 16.84
EV/EBITDA 10.37 6.84 12.85
EV/Sales 0.88 1.01 2.04
Earnings yield 5.32% 6.88% 2.76%
Free cash flow yield 8.95% 6.02% 4.23%

Profitability

Metric LMB PPIH Building Products & Equipment median
Gross margin 23.58% 31.13% 29.19%
Operating margin 5.75% 12.06% 6.99%
Net margin 4.42% 6.89% 4.05%
Free cash flow margin 7.60% 6.07% 7.60%
Return on equity 16.17% 17.94% 9.28%
Return on assets 8.09% 7.39% 2.88%
Return on invested capital 10.85% 17.97% 5.16%

Growth

Metric LMB PPIH Building Products & Equipment median
Revenue growth (TTM) 23.67% 24.78% 3.11%
EPS growth (last fiscal year) 25.68% 86.61% (34.13%)
Revenue growth, 5-year CAGR 2.62% 20.02% 5.37%
Net income growth, 5-year CAGR 46.41% 0.00% 0.00%

Health

Metric LMB PPIH Building Products & Equipment median
Debt to equity 0.20 0.39 0.43
Current ratio 1.49 2.19 1.82
Net debt to EBITDA 0.36 0.05 0.98

Dividend

Metric LMB PPIH Building Products & Equipment median
Dividend yield — — 1.43%
Payout ratio — — 0.29

Size

Metric LMB PPIH Building Products & Equipment median
Market cap 570.02m 239.87m 1.17b

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