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MARKETS / NASDAQ / LMB
NASDAQ · CONSTRUCTION - SPECIAL TRADE CONTRACTORS · LARGE CAP

Limbach Holdings, Inc. LMB

10 fiscal years on record · USD · FY2025 reported · SEC filings only
$646.8M
▲ 24.7% YoY
$39.1M
▲ 26.5% YoY
$41.9M
▲ 43.2% YoY
In brief

What this company does

Limbach Holdings, Inc. designs, delivers, and maintains mechanical (heating, ventilation, and air conditioning), electrical, plumbing, and controls (MEPC) systems, and is headquartered in Warrendale, Pennsylvania. As of December 31, 2025, it had approximately 1,500 team members, including approximately 600 full-time salaried team members and approximately 900 technician and craft team members, some of whom are represented by labor unions. It operates in two segments, Owner Direct Relationships (ODR) and General Contractor Relationships (GCR). Through its ODR segment, it performs owner direct projects and provides maintenance or service primarily on MEPC systems, along with specialty contracting projects to existing buildings direct to, or assigned by, building owners or operators. For each of the years ended December 31, 2025, 2024 and 2023, no customer in its ODR segment accounted for more than 10% of its consolidated revenue. Through its GCR segment, it manages new construction or renovation projects that involve primarily MEPC systems awarded to it by general contractors or construction managers.

Written from the business description in LIMBACH HOLDINGS, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 2 March 2026. Every sentence was checked against that document before publication.

Growth
USD 646.8M
Revenue, FY2025 · full 10-year series below
Revenue $M Net income $M
FY2025 · Revenue 646.8 · Net income 39.1
250.0M500.0M2015201720182019202020212022202320242025
Compound annual growth
+9.2%
+2.6%
+79.1%
+46.4%
+71.5%
+35.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +2.6% a year over five years — but profit grew faster: net income at +46.4%, earnings per share at +35.0%.

The share count rose from 0.01B to 0.01B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
6 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 7.6% · Net 6.0%
2%4%6%2015201720182019202020212022202320242025
ROE
FY2025 · ROE 22.4%
10%20%-2%-4%-6%2015201720182019202020212022202320242025

Each USD of equity produced 22 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 41.9
20M40M-10M-20M2015201720182019202020212022202320242025
Net buybacks $M Dividends $M
FY2024 · Dividends — · Net buybacks 0.0
-8M-16M2021202220232024

Total assetsUSD 381.1M
EquityUSD 195.7M
CashUSD 11.3M
Gross debtUSD 35.6M
Net debtUSD 24.2M
Current ratio1.44×

Net debt stands at 12% of equity.

The 10-year record
10 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172015
Revenue $B0.60.50.50.50.50.60.60.50.50.0
Operating income $B0.00.00.00.00.00.00.00.00.0−0.0
EBITDA $B0.10.10.00.00.00.00.00.00.00.0
Income tax $B0.00.00.00.00.00.0−0.0−0.00.0·
Net income $B0.00.00.00.00.00.0−0.0−0.00.0−0.0
Free cash flow $B0.00.00.10.0−0.00.0−0.00.0−0.0·
EPS, diluted $3.232.571.760.640.660.72−0.23−0.52−0.13−0.18
Dividend / sh $··········
Payout %··········
ROE %22.422.519.27.49.511.5−3.8−3.91.5−6.8
Shares out B0.010.010.010.010.010.010.010.010.010.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 52 reconciliationsAUDITED

Reconciled in 11 of 19 fiscal years. 43 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityConstruction - Special Trade Contractors
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2015

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