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Nasdaq · Industrials

Limbach Holdings, Inc. (LMB)

As-reported financials and SEC filings for Limbach Holdings, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Limbach Holdings, Inc.

Limbach Holdings, Inc. is a building systems solutions company that designs, delivers, and maintains mechanical, electrical, plumbing, and controls systems. It serves building owners and operators of mission-critical facilities in sectors such as healthcare, industrial, data centers, life sciences, higher education, and entertainment. The company operates through two segments: Owner Direct Relationships, providing lifecycle services and maintenance primarily to existing buildings, and General Contractor Relationships, managing new construction or renovation projects involving MEPC systems.

Snapshot

Revenue
$646.8M
Revenue growth (YoY)
24.7%
Net income
$39.1M
Diluted EPS
$3.23
Gross margin
26.2%
Operating margin
7.6%
Net margin
6.0%
FCF margin
6.5%
ROE
20.0%
net income / fiscal-year-end equity
P/E
20.4×
trailing when available, otherwise FY EPS
Market cap
$611.3M
Long-term debt / equity
0.16×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Limbach Holdings

  • Revenue grew 24.7% to $647M in FY2025, faster than the 0.5% the year before.
  • Operating margin is 7.6% in FY2025, +4.8 pp against 2.9% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $173M, up 21.9% from Q2 FY2025.
  • Free cash flow was $42M in FY2025, 6.5% of revenue.
  • Net income rose 26.5% to $39M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Limbach Holdings’s fundamentals sit among the 668 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin26.2%
46th percentile of 455
Operating margin7.6%
57th percentile of 598
Net margin6.0%
61st percentile of 630
FCF margin6.5%
57th percentile of 546
Revenue growth (YoY)+24.7%
86th percentile of 652
ROE20.0%
82nd percentile of 590
P/E20.4×
42nd percentile of 406
Long-term debt / equity0.16×
22nd percentile of 403
Short interest3.80d
59th percentile of 661

Limbach Holdings’s revenue growth of +24.7% ranks in the 86th percentile of the 652 Industrials companies reporting it.

7 reported insider purchases (code P) totaling $515,921 in the last 90 days, against 1 sale totaling $255,770. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 6 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+6 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
2
2 trimmed, 0 exited
Combined position
$41.0M
reported long value
InvestorAs ofPosition valueSharesChange
Citadel AdvisorsquantQ2 2026$16.9M218.9KAdded
Point72 Asset ManagementquantQ2 2026$11.6M151.1KNew
Renaissance TechnologiesquantQ2 2026$6.0M77.8KReduced
Millennium ManagementquantQ2 2026$5.4M70.6KAdded
AQR Capital ManagementquantQ2 2026$687,5078.9KAdded
Two Sigma InvestmentsquantQ2 2026$369,2154.8KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
7
3 insiders
Bought (90d)
$516K
code P value
Sells (90d)
1
$256K
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-09-15
filed 2026-09-17
Jay SharpExecutive Vice PresidentSell5.1K$50.21$256K
2026-09-15
Joshua HorowitzDirectorBuy3.3K$50.61$169K
2026-09-15
Joshua HorowitzDirectorBuy662$51.25$34K
2026-09-15
filed 2026-09-16
Laurel J. KrzeminskiDirectorBuy500$50.58$25K
2026-09-15
Joshua HorowitzDirectorBuy212$50.66$11K
2026-09-14
filed 2026-09-16
David Richard GabouryDirectorBuy1.9K$51.35$100K
2026-09-11
filed 2026-09-15
Joshua HorowitzDirectorBuy2.6K$49.01$127K
2026-09-11
filed 2026-09-15
Joshua HorowitzDirectorBuy1.0K$49.59$50K
2026-06-15
filed 2026-06-17
Jay SharpExecutive Vice PresidentSell2.0K$80.34$162K
2026-06-15
filed 2026-06-17
Jay SharpExecutive Vice PresidentSell1.9K$79.67$148K
2026-06-15
filed 2026-06-17
Jay SharpExecutive Vice PresidentSell788$78.46$62K
2026-06-15
filed 2026-06-17
Jay SharpExecutive Vice PresidentSell200$81.32$16K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
1.1M
settled 2026-09-30
Change vs prior
+14.8%
vs previous settlement
Days to cover
3.80
at avg daily volume
Avg daily volume
290.9K
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-301.1M+14.8%3.80
2026-09-15964.0K-0.5%1.92
2026-08-31968.6K-4.5%2.61
2026-08-141.0M-13.3%1.73
2026-07-311.2M-0.6%6.69
2026-07-151.2M+7.6%6.71
2026-06-301.1M+9.1%4.83
2026-06-151.0M-2.9%2.99

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$646.8M$518.8M$516.4M$496.8M$490.4M
Gross profit
Operating income$49.5M$38.6M$29.3M$12.0M$14.0M
Net income$39.1M$30.9M$20.8M$6.8M$6.7M
Diluted EPS$3.23$2.57$1.76$0.64$0.66

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$45.7M$36.8M$57.4M$35.4M$-24.2M
Capital expenditure$3.8M$7.5M$2.3M$993,000$791,000
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$173.5M21.9%$4.7M$0.39
Q1 FY2026$138.9M4.3%$4.4M$0.36
Q4 FY202530.1%
Q3 FY2025$184.6M37.8%$8.8M$0.73
Q2 FY2025$142.2M16.4%$7.8M$0.64
Q1 FY2025$133.1M11.9%$10.2M$0.85
Q4 FY20240.7%
Q3 FY2024$133.9M4.8%$7.5M$0.62

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorIndustrials
SIC industryConstruction - Special Trade Contractors
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2014
SEC CIK1606163

Selected SEC filings

10-K2026-03-02
View on EDGAR →
10-Q2026-08-04
View on EDGAR →
10-Q2026-05-05
View on EDGAR →
8-K2026-09-09
View on EDGAR →
8-K2026-09-01
View on EDGAR →
8-K2026-08-04
View on EDGAR →
8-K2026-07-24
View on EDGAR →

Largest Industrials peers

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.