LMB · Limbach Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $138.86M | - | $184.58M | $142.24M | $133.11M | - | $133.92M | $122.23M | $118.98M | - |
| Cost of Revenue | $107.69M | - | $139.90M | $102.42M | $96.39M | - | $97.81M | $88.73M | $87.89M | - |
| Gross Profit | $31.17M | - | $44.69M | $39.83M | $36.72M | - | $36.11M | $33.51M | $31.09M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $28.11M | - | $28.33M | $26.63M | $26.52M | - | $23.75M | $23.18M | $22.88M | - |
| Total Operating Expenses | $30.04M | - | $31.34M | $29.18M | $28.81M | - | $25.23M | $25.32M | $24.56M | - |
| D&A | $4.42M | - | - | - | $4.07M | - | - | - | $2.71M | - |
| Operating Income | $1.13M | - | $13.35M | $10.64M | $7.91M | - | $10.89M | $8.19M | $6.53M | - |
| Interest Expense | $701.0K | - | $1.22M | $563.0K | $475.0K | - | $468.0K | $432.0K | - | - |
| Income Tax | ($3.66M) | - | $3.77M | $3.00M | ($2.22M) | - | $3.39M | $2.40M | ($327.0K) | - |
| Net Income | $4.38M | - | $8.79M | $7.76M | $10.21M | - | $7.48M | $5.96M | $7.59M | - |
| EPS - Basic | $0.37 | - | $0.76 | $0.67 | $0.89 | - | $0.66 | $0.53 | $0.68 | - |
| EPS - Diluted | $0.36 | - | $0.73 | $0.64 | $0.85 | - | $0.62 | $0.50 | $0.64 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $15.77M | $11.35M | $9.82M | $38.94M | $38.09M | $44.93M | $51.16M | $59.53M | $48.24M | $59.83M |
| Accounts Receivable | $120.51M | $133.21M | $142.47M | $113.06M | $110.85M | $119.66M | $101.01M | $97.17M | $95.86M | $97.75M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $62.13M | $74.17M | $65.91M | $55.39M | $54.90M | $60.81M | $51.78M | $53.31M | $51.91M | $65.27M |
| Current Assets | $191.76M | $195.05M | $216.82M | $208.97M | $204.50M | $220.33M | $217.14M | $213.29M | $199.42M | $217.00M |
| Total Assets | $376.97M | $381.13M | $409.12M | $342.98M | $336.37M | $352.13M | $324.42M | $303.94M | $289.18M | $304.44M |
| Current Liabilities | $112.38M | $135.09M | $151.23M | $123.45M | $131.74M | $151.04M | $138.21M | $130.58M | $124.39M | $145.15M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $180.64M | $185.47M | $227.56M | $172.45M | $175.24M | $198.64M | $182.22M | $170.98M | $163.66M | $183.52M |
| Stockholders' Equity | $196.34M | $195.66M | $181.56M | $170.53M | $161.13M | $153.49M | $142.20M | $132.96M | $125.53M | $120.92M |
| Retained Earnings | $104.70M | $100.33M | $88.03M | $79.24M | $71.47M | $61.26M | $51.42M | $43.94M | $37.97M | $30.39M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($7.81M) | - | - | - | $2.24M | - | - | - | ($3.94M) | - |
| Investing Cash Flow | ($107.0K) | - | - | - | ($1.93M) | - | - | - | ($1.98M) | - |
| Financing Cash Flow | $12.34M | - | - | - | ($7.16M) | - | - | - | ($5.67M) | - |
| CapEx | $407.0K | - | - | - | $2.23M | - | - | - | $2.54M | - |
| Free Cash Flow | ($8.22M) | - | - | - | $11.0K | - | - | - | ($6.49M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 22.4% | - | 24.2% | 28.0% | 27.6% | - | 27.0% | 27.4% | 26.1% | - |
| Operating margin | 0.8% | - | 7.2% | 7.5% | 5.9% | - | 8.1% | 6.7% | 5.5% | - |
| EBITDA margin | 4.0% | - | - | - | 9.0% | - | - | - | 7.8% | - |
| Net margin | 3.2% | - | 4.8% | 5.5% | 7.7% | - | 5.6% | 4.9% | 6.4% | - |
| Free cash flow margin | -5.9% | - | - | - | 0.0% | - | - | - | -5.5% | - |
| FCF / Net income | -1.88 | - | - | - | 0.00 | - | - | - | -0.85 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 20.2% | - | 15.3% | 18.7% | 19.9% | - | 17.7% | 19.0% | 19.2% | - |
| Effective tax rate | -505.8% | - | 30.0% | 27.9% | -27.8% | - | 31.2% | 28.7% | -4.5% | - |
| Return on assets | 1.2% | - | 2.1% | 2.3% | 3.0% | - | 2.3% | 2.0% | 2.6% | - |
| Return on equity | 2.2% | - | 4.8% | 4.6% | 6.3% | - | 5.3% | 4.5% | 6.0% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.71 | 1.44 | 1.43 | 1.69 | 1.55 | 1.46 | 1.57 | 1.63 | 1.60 | 1.50 |
| Quick ratio | 1.71 | 1.44 | 1.43 | 1.69 | 1.55 | 1.46 | 1.57 | 1.63 | 1.60 | 1.50 |
| Cash ratio | 0.14 | 0.08 | 0.06 | 0.32 | 0.29 | 0.30 | 0.37 | 0.46 | 0.39 | 0.41 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 1.6x | - | 10.9x | 18.9x | 16.7x | - | 23.3x | 19.0x | - | - |
| Equity multiplier | 1.92 | 1.95 | 2.25 | 2.01 | 2.09 | 2.29 | 2.28 | 2.29 | 2.30 | 2.52 |
| Liabilities / Assets | 0.48 | 0.49 | 0.56 | 0.50 | 0.52 | 0.56 | 0.56 | 0.56 | 0.57 | 0.60 |
| Efficiency | ||||||||||
| Asset turnover | 0.37 | - | 0.45 | 0.41 | 0.40 | - | 0.41 | 0.40 | 0.41 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 317d | - | 282d | 290d | 304d | - | 275d | 290d | 294d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 211d | - | 172d | 197d | 208d | - | 193d | 219d | 216d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 216.8x | - | 133.0x | 218.9x | 87.6x | - | 122.2x | 113.9x | 64.7x | - |
| P / B | 4.8x | - | 6.5x | 10.0x | 5.6x | - | 6.4x | 5.1x | 3.9x | - |
| P / S | 6.8x | - | 6.4x | 11.9x | 6.7x | - | 6.8x | 5.6x | 4.1x | - |
| EV / EBITDA | 166.9x | - | - | - | 71.7x | - | - | - | 48.1x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 4.3% | - | 37.8% | 16.4% | 11.9% | - | 4.8% | -2.1% | -1.7% | - |
| Revenue CAGR (3y) | 4.7% | - | 14.7% | 7.0% | 5.0% | - | 1.2% | 0.3% | 1.6% | - |
| Revenue CAGR (5y) | 4.1% | - | 2.4% | 1.0% | -0.8% | - | -1.9% | -1.6% | -2.3% | - |
| Gross profit growth (YoY) | -15.1% | - | 23.7% | 18.9% | 18.1% | - | 15.6% | 17.5% | 18.5% | - |
| Operating income growth (YoY) | -85.7% | - | 22.6% | 29.9% | 21.1% | - | 10.8% | 8.4% | 40.4% | - |
| Net income growth (YoY) | -57.1% | - | 17.4% | 30.2% | 34.6% | - | 4.1% | 12.1% | 153.5% | - |
| EPS growth (YoY) | -57.6% | - | 17.7% | 28.0% | 32.8% | - | 1.6% | 8.7% | 137.0% | - |
| EPS CAGR (3y) | 10.1% | - | 29.0% | 100.0% | - | - | 17.7% | 92.6% | - | - |
| EPS CAGR (5y) | - | - | 18.7% | 11.6% | - | - | - | - | 18.0% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | -67.5% | - | - | - | - | - |
| Book value growth (YoY) | 21.8% | 27.5% | 27.7% | 28.3% | 28.4% | 26.9% | 24.6% | 25.8% | 26.5% | 26.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$646.80M totalOwner Direct Relationships Segment$485.69M · 75.1%
General Contractor Construction Manager Relationships Segment$161.11M · 24.9%
Peer comparison
Same SIC group: Construction - Special Trade Contractors
Comparing Limbach Holdings against the 5 most active filers in the same SIC group.