Loading…
Legence Corp. provides engineering, installation, and maintenance services for mission-critical systems in buildings in the United States. The company operates through two segments, Engineering & Consulting, and Installation & Maintenance. The Engineering & Consulting segment designs HVAC and other MEP systems for buildings, develops strategies to help reduce energy usage and make buildings more sustainable and provides program and project management services for client's installation and retrofit projects. This segment also offers engineering & design and program and project management services. The Installation & Maintenance segment fabricates and installs HVAC systems, process piping and other MEP systems in new and existing industrial, commercial and institutional buildings and provides ongoing preventative and corrective maintenance services, emergency repair, and break-fix services, as well as facility energy analysis, automation, optimization, and system certification and testing. It serves data centers, technology, life sciences, healthcare, education, mixed-use, state and local government, and other markets. The company was founded in 1914 and is based in San Jose, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.6B | $161M | $-60M | $219M | -7.6% | 21.5% | - |
| 2024 | $2.1B | $179M | $-29M | $10M | -14.0% | 29.9% | - |
| 2023 | $1.6B | $107M | $-46M | $17M | -8.8% | 29.6% | - |
| 2022 | $1.2B | $69M | $-82M | $1M | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,246.50 | 1,615.06 | 2,098.60 | 2,550.49 |
| Cost Of Revenue | 1,012.79 | 1,299.92 | 1,667.84 | 2,014.57 |
| Gross Profit | 233.71 | 315.15 | 430.77 | 535.92 |
| Operating Expense | 224.56 | 266.30 | 340.04 | 442.99 |
| Operating Income | 9.14 | 48.85 | 90.73 | 92.93 |
| EBITDA | 69.19 | 107.05 | 179.34 | 160.92 |
| EBIT | -23.82 | 14.25 | 68.49 | 46.64 |
| Pretax Income | -74.66 | -53.94 | -23.12 | -55.14 |
| Tax Provision | 7.61 | -7.92 | 4.52 | 22.16 |
| Net Income | -82.27 | -46.03 | -28.55 | -59.78 |
| Net Income Common Stockholders | -82.27 | -46.03 | -28.55 | -59.78 |
| Total Expenses | 1,237.36 | 1,566.21 | 2,007.88 | 2,457.56 |
| Interest Expense | 50.84 | 68.20 | 91.61 | 101.78 |
| Interest Income | 0.24 | 4.25 | 5.46 | 4.49 |
| Selling General And Administration | 142.05 | 186.06 | 242.89 | 342.63 |
| Normalized EBITDA | 102.58 | 146.97 | 202.77 | 200.37 |
| Normalized Income | -55.90 | -11.90 | -10.04 | -28.62 |
| Basic EPS | -0.81 | -0.83 | -0.52 | -0.57 |
| Diluted EPS | -0.81 | -0.83 | -0.52 | -0.57 |
| Tax Effect Of Unusual Items | -7.01 | -5.79 | -4.92 | -8.28 |
| Tax Rate For Calcs | 0.21 | 0.14 | 0.21 | 0.21 |
| Total Unusual Items | -33.39 | -39.92 | -23.44 | -39.45 |
| Total Unusual Items Excluding Goodwill | -33.39 | -39.92 | -23.44 | -39.45 |
| Net Income From Continuing Operation Net Minority Interest | -82.27 | -46.03 | -28.55 | -59.78 |
| Reconciled Depreciation | 93.02 | 92.80 | 110.85 | 114.29 |
| Reconciled Cost Of Revenue | 1,002.29 | 1,287.36 | 1,654.14 | 2,000.64 |
| Net Interest Income | -50.60 | -63.95 | -86.14 | -97.29 |
| Net Income From Continuing And Discontinued Operation | -82.27 | -46.03 | -28.55 | -59.78 |
| Total Operating Income As Reported | -24.25 | 10.26 | 70.35 | 61.58 |
| Diluted Average Shares | 101.70 | 101.97 | 101.97 | 59.38 |
| Basic Average Shares | 101.70 | 55.24 | 55.24 | 59.38 |
| Diluted NI Availto Com Stockholders | -82.27 | -46.03 | -28.55 | -59.78 |
| Minority Interests | 0 | 0 | -0.91 | 17.52 |
| Net Income Including Noncontrolling Interests | -82.27 | -46.03 | -27.64 | -77.30 |
| Net Income Continuous Operations | -82.27 | -46.03 | -27.64 | -77.30 |
| Other Income Expense | -33.20 | -38.84 | -27.70 | -50.78 |
| Other Non Operating Income Expenses | 0.19 | -0.26 | -7.33 | -12.78 |
| Special Income Charges | -33.39 | -39.92 | -23.44 | -39.45 |
| Gain On Sale Of Ppe | 0 | 0 | 0 | 0.33 |
| Other Special Charges | 0 | 0 | 10.81 | 6.65 |
| Impairment Of Capital Assets | 23.44 | 5.05 | 17.80 | 27.38 |
| Restructuring And Mergern Acquisition | 9.95 | 34.87 | 5.63 | 5.74 |
| Earnings From Equity Interest | 0 | 1.33 | 3.06 | 1.44 |
| Net Non Operating Interest Income Expense | -50.60 | -63.95 | -86.14 | -97.29 |
| Interest Expense Non Operating | 50.84 | 68.20 | 91.61 | 101.78 |
| Interest Income Non Operating | 0.24 | 4.25 | 5.46 | 4.49 |
| Depreciation Amortization Depletion Income Statement | 82.51 | 80.24 | 97.15 | 100.36 |
| Depreciation And Amortization In Income Statement | 82.51 | 80.24 | 97.15 | 100.36 |
| Operating Revenue | 1,246.50 | 1,615.06 | 2,098.60 | 2,550.49 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Legence Corp.this co. | LGN | - | - | - | -7.6% | - |
| The Eastern Company | EML | $134M | 22.70 | 1.08 | 5.7% | 9.14 |
| DMC Global Inc. | BOOM | $129M | - | 0.53 | -4.2% | 9.35 |
| Byrna Technologies Inc. | BYRN | $128M | 15.72 | 1.93 | 14.7% | 9.07 |
| JELD-WEN Holding, Inc. | JELD | $123M | - | 1.33 |
| -673.6% |
| 29.19 |
| Forrester Research, Inc. | FORR | $121M | - | 0.95 | -94.3% | 3.10 |
| Arq, Inc. | ARQ | $96M | - | 0.57 | -31.3% | 34.71 |
| Mobile Infrastructure Corporation | BEEP | $80M | - | 0.55 | -13.5% | 26.61 |
| Southland Holdings, Inc. | SLND | $60M | - | -0.42 | 231.3% | -1.74 |
| Peer Median | - | 19.21 | 0.76 | -8.8% | 9.25 | |