Limbach Hldgs Inc Financials
This page shows Limbach Hldgs Inc (LMB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Limbach Hldgs Inc has an operating margin of 7.6%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 39/100, indicating healthy but not exceptional operating efficiency. This is up from 7.4% the prior year.
Limbach Hldgs Inc's revenue surged 24.7% year-over-year to $646.8M, reflecting rapid business expansion. This strong growth earns a score of 74/100.
Limbach Hldgs Inc carries a low D/E ratio of 0.16, meaning only $0.16 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
Limbach Hldgs Inc's current ratio of 1.44 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 24/100, which could limit financial flexibility.
Limbach Hldgs Inc has a free cash flow margin of 6.5%, earning a moderate score of 41/100. The company generates positive cash flow after capital investments, but with room for improvement.
Limbach Hldgs Inc's ROE of 20.0% shows moderate profitability relative to equity, earning a score of 55/100. This is down from 20.1% the prior year.
Limbach Hldgs Inc scores 5.72, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($939.3M) relative to total liabilities ($185.5M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Limbach Hldgs Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Limbach Hldgs Inc generates $1.17 in operating cash flow ($45.7M OCF vs $39.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Limbach Hldgs Inc earns $15.8 in operating income for every $1 of interest expense ($49.5M vs $3.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Limbach Hldgs Inc generated $646.8M in revenue in fiscal year 2025. This represents an increase of 24.7% from the prior year.
Limbach Hldgs Inc's EBITDA was $67.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 33.8% from the prior year.
Limbach Hldgs Inc reported $39.1M in net income in fiscal year 2025. This represents an increase of 26.5% from the prior year.
Limbach Hldgs Inc earned $3.23 per diluted share (EPS) in fiscal year 2025. This represents an increase of 25.7% from the prior year.
Cash & Balance Sheet
Limbach Hldgs Inc generated $41.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 43.2% from the prior year.
Limbach Hldgs Inc held $11.3M in cash against $30.5M in long-term debt as of fiscal year 2025.
Limbach Hldgs Inc had 12M shares outstanding in fiscal year 2025. This represents an increase of 3.1% from the prior year.
Margins & Returns
Limbach Hldgs Inc's gross margin was 26.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.6 percentage points from the prior year.
Limbach Hldgs Inc's operating margin was 7.6% in fiscal year 2025, reflecting core business profitability. This is up 0.2 percentage points from the prior year.
Limbach Hldgs Inc's net profit margin was 6.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.1 percentage points from the prior year.
Limbach Hldgs Inc's ROE was 20.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the prior year.
Capital Allocation
Limbach Hldgs Inc invested $3.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 49.4% from the prior year.
LMB Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $186.9M+1.2% | $184.6M+29.8% | $142.2M+6.9% | $133.1M-7.3% | $143.7M+7.3% | $133.9M+9.6% | $122.2M+2.7% | $119.0M |
| Cost of Revenue | $138.8M-0.8% | $139.9M+36.6% | $102.4M+6.3% | $96.4M-3.7% | $100.1M+2.3% | $97.8M+10.2% | $88.7M+1.0% | $87.9M |
| Gross Profit | $48.1M+7.6% | $44.7M+12.2% | $39.8M+8.5% | $36.7M-15.7% | $43.6M+20.6% | $36.1M+7.8% | $33.5M+7.8% | $31.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $28.0M-1.0% | $28.3M+6.4% | $26.6M+0.4% | $26.5M-3.2% | $27.4M+15.4% | $23.7M+2.5% | $23.2M+1.3% | $22.9M |
| Operating Income | $17.6M+31.6% | $13.3M+25.4% | $10.6M+34.5% | $7.9M-39.2% | $13.0M+19.5% | $10.9M+32.9% | $8.2M+25.4% | $6.5M |
| Interest Expense | $821K-32.9% | $1.2M+117.2% | $563K+7.0% | $526K+6.5% | $494K+5.6% | $468K+8.3% | $432K-9.1% | $475K |
| Income Tax | $5.0M+33.2% | $3.8M+25.5% | $3.0M+235.0% | -$2.2M-161.3% | $3.6M+6.9% | $3.4M+41.7% | $2.4M+832.4% | -$327K |
| Net Income | $12.3M+40.0% | $8.8M+13.2% | $7.8M-24.0% | $10.2M+3.8% | $9.8M+31.5% | $7.5M+25.5% | $6.0M-21.4% | $7.6M |
| EPS (Diluted) | N/A | $0.73+14.1% | $0.64-24.7% | $0.85 | N/A | $0.62+24.0% | $0.50-21.9% | $0.64 |
LMB Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $381.1M-6.8% | $409.1M+19.3% | $343.0M+2.0% | $336.4M-4.5% | $352.1M+8.5% | $324.4M+6.7% | $303.9M+5.1% | $289.2M |
| Current Assets | $195.0M-10.0% | $216.8M+3.8% | $209.0M+2.2% | $204.5M-7.2% | $220.3M+1.5% | $217.1M+1.8% | $213.3M+7.0% | $199.4M |
| Cash & Equivalents | $11.3M+15.6% | $9.8M-74.8% | $38.9M+2.2% | $38.1M-15.2% | $44.9M-12.2% | $51.2M-14.1% | $59.5M+23.4% | $48.2M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $133.2M-6.5% | $142.5M+26.0% | $113.1M+2.0% | $110.9M-7.4% | $119.7M+18.5% | $101.0M+4.0% | $97.2M+1.4% | $95.9M |
| Goodwill | $70.6M+1.2% | $69.7M+110.5% | $33.1M0.0% | $33.1M+0.3% | $33.0M+55.5% | $21.2M+29.3% | $16.4M0.0% | $16.4M |
| Total Liabilities | $185.5M-18.5% | $227.6M+32.0% | $172.4M-1.6% | $175.2M-11.8% | $198.6M+9.0% | $182.2M+6.6% | $171.0M+4.5% | $163.7M |
| Current Liabilities | $135.1M-10.7% | $151.2M+22.5% | $123.5M-6.3% | $131.7M-12.8% | $151.0M+9.3% | $138.2M+5.8% | $130.6M+5.0% | $124.4M |
| Long-Term Debt | $30.5M-45.7% | $56.3M+98.2% | $28.4M+19.9% | $23.7M+0.6% | $23.6M+14.9% | $20.5M+4.3% | $19.7M+1.6% | $19.4M |
| Total Equity | $195.7M+7.8% | $181.6M+6.5% | $170.5M+5.8% | $161.1M+5.0% | $153.5M+7.9% | $142.2M+6.9% | $133.0M+5.9% | $125.5M |
| Retained Earnings | $100.3M+14.0% | $88.0M+11.1% | $79.2M+10.9% | $71.5M+16.7% | $61.3M+19.1% | $51.4M+17.0% | $43.9M+15.7% | $38.0M |
LMB Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $28.1M+111.0% | $13.3M+566.1% | $2.0M-10.7% | $2.2M-88.4% | $19.3M+290.9% | $4.9M-70.1% | $16.5M+518.5% | -$3.9M |
| Capital Expenditures | $251K-47.8% | $481K-43.1% | $845K-62.1% | $2.2M+66.8% | $1.3M+280.9% | $351K-89.3% | $3.3M+29.7% | $2.5M |
| Free Cash Flow | $27.9M+117.0% | $12.8M+1011.4% | $1.2M+10409.1% | $11K-99.9% | $18.0M+291.7% | $4.6M-65.3% | $13.2M+303.7% | -$6.5M |
| Investing Cash Flow | $319K+100.5% | -$65.8M-28866.1% | -$227K+88.2% | -$1.9M+92.3% | -$24.8M-98.8% | -$12.5M-283.8% | -$3.3M-64.7% | -$2.0M |
| Financing Cash Flow | -$26.9M-215.5% | $23.3M+2621.9% | -$924K+87.1% | -$7.2M-955.5% | -$678K+16.4% | -$811K+58.5% | -$2.0M+65.6% | -$5.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LMB Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.7%+1.5pp | 24.2%-3.8pp | 28.0%+0.4pp | 27.6%-2.7pp | 30.3%+3.4pp | 27.0%-0.4pp | 27.4%+1.3pp | 26.1% |
| Operating Margin | 9.4%+2.2pp | 7.2%-0.3pp | 7.5%+1.5pp | 5.9%-3.1pp | 9.1%+0.9pp | 8.1%+1.4pp | 6.7%+1.2pp | 5.5% |
| Net Margin | 6.6%+1.8pp | 4.8%-0.7pp | 5.5%-2.2pp | 7.7%+0.8pp | 6.9%+1.3pp | 5.6%+0.7pp | 4.9%-1.5pp | 6.4% |
| Return on Equity | 6.3%+1.4pp | 4.8%+0.3pp | 4.5%-1.8pp | 6.3%-0.1pp | 6.4%+1.2pp | 5.3%+0.8pp | 4.5%-1.6pp | 6.0% |
| Return on Assets | 3.2%+1.1pp | 2.1%-0.1pp | 2.3%-0.8pp | 3.0%+0.2pp | 2.8%+0.5pp | 2.3%+0.3pp | 2.0%-0.7pp | 2.6% |
| Current Ratio | 1.44+0.0 | 1.43-0.3 | 1.69+0.1 | 1.55+0.1 | 1.46-0.1 | 1.57-0.1 | 1.63+0.0 | 1.60 |
| Debt-to-Equity | 0.16-0.2 | 0.31+0.1 | 0.17+0.0 | 0.150.0 | 0.150.0 | 0.140.0 | 0.150.0 | 0.15 |
| FCF Margin | 14.9%+8.0pp | 7.0%+6.2pp | 0.8%+0.8pp | 0.0%-12.5pp | 12.5%+9.1pp | 3.4%-7.4pp | 10.8%+16.3pp | -5.5% |
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Frequently Asked Questions
What is Limbach Hldgs Inc's annual revenue?
Limbach Hldgs Inc (LMB) reported $646.8M in total revenue for fiscal year 2025. This represents a 24.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Limbach Hldgs Inc's revenue growing?
Limbach Hldgs Inc (LMB) revenue grew by 24.7% year-over-year, from $518.8M to $646.8M in fiscal year 2025.
Is Limbach Hldgs Inc profitable?
Yes, Limbach Hldgs Inc (LMB) reported a net income of $39.1M in fiscal year 2025, with a net profit margin of 6.0%.
What is Limbach Hldgs Inc's EBITDA?
Limbach Hldgs Inc (LMB) had EBITDA of $67.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Limbach Hldgs Inc have?
As of fiscal year 2025, Limbach Hldgs Inc (LMB) had $11.3M in cash and equivalents against $30.5M in long-term debt.
What is Limbach Hldgs Inc's gross margin?
Limbach Hldgs Inc (LMB) had a gross margin of 26.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Limbach Hldgs Inc's operating margin?
Limbach Hldgs Inc (LMB) had an operating margin of 7.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Limbach Hldgs Inc's net profit margin?
Limbach Hldgs Inc (LMB) had a net profit margin of 6.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Limbach Hldgs Inc's return on equity (ROE)?
Limbach Hldgs Inc (LMB) has a return on equity of 20.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Limbach Hldgs Inc's free cash flow?
Limbach Hldgs Inc (LMB) generated $41.9M in free cash flow during fiscal year 2025. This represents a 43.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Limbach Hldgs Inc's operating cash flow?
Limbach Hldgs Inc (LMB) generated $45.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Limbach Hldgs Inc's total assets?
Limbach Hldgs Inc (LMB) had $381.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Limbach Hldgs Inc's capital expenditures?
Limbach Hldgs Inc (LMB) invested $3.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Limbach Hldgs Inc's current ratio?
Limbach Hldgs Inc (LMB) had a current ratio of 1.44 as of fiscal year 2025, which is considered adequate.
What is Limbach Hldgs Inc's debt-to-equity ratio?
Limbach Hldgs Inc (LMB) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Limbach Hldgs Inc's return on assets (ROA)?
Limbach Hldgs Inc (LMB) had a return on assets of 10.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Limbach Hldgs Inc's Altman Z-Score?
Limbach Hldgs Inc (LMB) has an Altman Z-Score of 5.72, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Limbach Hldgs Inc's Piotroski F-Score?
Limbach Hldgs Inc (LMB) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Limbach Hldgs Inc's earnings high quality?
Limbach Hldgs Inc (LMB) has an earnings quality ratio of 1.17x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Limbach Hldgs Inc cover its interest payments?
Limbach Hldgs Inc (LMB) has an interest coverage ratio of 15.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Limbach Hldgs Inc?
Limbach Hldgs Inc (LMB) scores 56 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.