Loading…
Limbach Holdings, Inc. operates as a building systems solution company in the United States. The company operates through two segments, Owner Direct Relationships and General Contractor Relationships. It engages in the construction or renovation projects that involve primarily include mechanical, electrical, plumbing, and controls services (MEPC). It also provides professional and consultative services; inspection, troubleshooting, repair, and services; system and/or facility assessments; turnkey rental equipment solutions; MEPC infrastructure solutions; and customized solutions. The company serves research, acute care, and inpatient hospitals; public and private colleges, universities, research centers; entertainment facilities, and amusement rides and parks; data centers; automotive, energy and general manufacturing plants; and life sciences, including organizations and companies, whose work is centered around research and development focused on living things. Limbach Holdings, Inc. was founded in 1901 and is headquartered in Tampa, Florida.
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 | $647M | $70M | $39M | $42M | 20.0% | 24.7% | 26.5% |
| 2024 | $519M | $54M | $31M | $29M | 20.1% | 0.5% | 48.8% |
| 2023 | $516M | $38M | $21M | $55M | 17.2% | 3.9% | 205.3% |
| 2022 | $497M | $20M | $7M | $34M | 7.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 496.78 | 516.35 | 518.78 | 646.80 |
| Operating Revenue | - | 496.78 | 516.35 | 518.78 | 646.80 |
| Cost Of Revenue | - | 403.04 | 397.06 | 374.50 | 477.49 |
| Gross Profit | - | 93.74 | 119.29 | 144.28 | 169.31 |
| Operating Expense | - | 79.45 | 89.28 | 101.89 | 117.88 |
| Selling General And Administration | - | 77.88 | 87.40 | 97.20 | 109.52 |
| Total Expenses | - | 482.49 | 486.34 | 476.39 | 595.36 |
| Operating Income | - | 14.30 | 30.01 | 42.39 | 51.44 |
| Total Operating Income As Reported | - | 12.01 | 29.28 | 38.62 | 49.45 |
| EBITDA | - | 19.91 | 38.39 | 53.72 | 69.90 |
| Normalized EBITDA | - | 22.45 | 39.47 | 56.51 | 70.39 |
| EBIT | - | 11.75 | 30.15 | 41.84 | 51.76 |
| Interest Income | - | 0 | 1.22 | 2.23 | 0.82 |
| Interest Expense | - | 2.14 | 2.05 | 1.87 | 3.13 |
| Net Interest Income | - | -2.14 | -0.83 | 0.36 | -2.32 |
| Other Income Expense | - | -2.54 | -1.08 | -2.79 | -0.49 |
| Interest Income Non Operating | - | 0 | 1.22 | 2.23 | 0.82 |
| Interest Expense Non Operating | - | 2.14 | 2.05 | 1.87 | 3.13 |
| Net Non Operating Interest Income Expense | - | -2.14 | -0.83 | 0.36 | -2.32 |
| Pretax Income | - | 9.61 | 28.10 | 39.97 | 48.63 |
| Tax Provision | - | 2.81 | 7.35 | 9.09 | 9.56 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.74 | -0.28 | -0.63 | -0.10 |
| Net Income Continuous Operations | - | 6.80 | 20.75 | 30.88 | 39.06 |
| Net Income From Continuing And Discontinued Operation | - | 6.80 | 20.75 | 30.88 | 39.06 |
| Net Income From Continuing Operation Net Minority Interest | - | 6.80 | 20.75 | 30.88 | 39.06 |
| Net Income | - | 6.80 | 20.75 | 30.88 | 39.06 |
| Net Income Common Stockholders | - | 6.80 | 20.75 | 30.88 | 39.06 |
| Net Income Including Noncontrolling Interests | - | 6.80 | 20.75 | 30.88 | 39.06 |
| Normalized Income | - | 8.60 | 21.55 | 33.03 | 39.46 |
| Diluted NI Availto Com Stockholders | - | 6.80 | 20.75 | 30.88 | 39.06 |
| Basic Average Shares | - | 10.43 | 10.77 | 11.24 | 11.58 |
| Diluted Average Shares | - | 10.68 | 11.81 | 12.03 | 12.08 |
| Reconciled Depreciation | - | 8.16 | 8.24 | 11.89 | 18.13 |
| Reconciled Cost Of Revenue | - | 396.45 | 390.70 | 367.30 | 467.71 |
| Total Unusual Items | - | -2.54 | -1.08 | -2.79 | -0.49 |
| Total Unusual Items Excluding Goodwill | - | -2.54 | -1.08 | -2.79 | -0.49 |
| Special Income Charges | - | -2.85 | -0.96 | -2.82 | -0.30 |
| Other Special Charges | 1.96 | 0.85 | 0.31 | - | - |
| Restructuring And Mergern Acquisition | - | 2.28 | 0.73 | 3.77 | 1.98 |
| Gain On Sale Of Security | - | 0.31 | -0.12 | 0.03 | -0.19 |
| Depreciation Amortization Depletion Income Statement | - | 1.57 | 1.88 | 4.69 | 8.36 |
| Depreciation And Amortization In Income Statement | - | 1.57 | 1.88 | 4.69 | 8.36 |
| Gain On Sale Of Ppe | - | 0.28 | 0.08 | 0.95 | 1.68 |
| Amortization | - | 1.57 | 1.88 | 4.69 | 8.36 |
| Amortization Of Intangibles Income Statement | - | 1.57 | 1.88 | 4.69 | 8.36 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Limbach Holdings, Inc.this co. | LMB | $1.0B | 25.73↑ premium | 5.14 | 20.0% | 15.02 |
| Genco Shipping & Trading Limited | GNK | $1.0B | -240.44 | 1.17 | -0.5% | 13.97 |
| Deluxe Corporation | DLX | $1.0B | 12.78 | 1.54 | 12.1% | 6.58 |
| LegalZoom.com, Inc. | LZ | $996M | 64.53 | 5.79 | 9.0% | 9.94 |
| Cardinal Infrastructure Group Inc. | CDNL | $967M |
| - |
| - |
| - |
| - |
| - |
| 42.62 |
| 16.54 |
| 38.8% |
| 13.93 |
| Resolute Holdings Management, Inc. | RHLD | $966M | -163.07 | 148.07 | -90.8% | 6.35 |
| Eastman Kodak Company | KODK | $950M | -7.42 | 1.55 | -20.8% | -41.08 |
| Aebi Schmidt Holding AG | AEBI | $942M | 96.77 | 1.16 | 1.2% | 16.49 |
| National Presto Industries, Inc. | NPK | $939M | 28.38 | 2.38 | 8.4% | 20.15 |
| Peer Median | - | 20.58 | 1.96 | 4.8% | 11.94 | |