Limbach Holdings (LMB) AI Stock Analysis

• Market Cap: $1.44B
• Dividend Yield: N/A
• Average Volume (3M): 205.34K
• Price to Earnings (P/E): 44.6
• Beta (1Y): 1.63
• Revenue Growth: 3.62%
• EPS Growth: 28.02%
• Country: US
• Employees: 1,400
• Sector: Industrials
• Sector Strength: 94
• Industry: Engineering & Construction
• EPS (TTM): 1.12
• Shares Outstanding: 11,624,639
• 10 Day Avg. Volume: 258,130
• 30 Day Avg. Volume: 205,341
• PEG Ratio: 6.46
• Price to Book (P/B): 10.29
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 47.20
• Enterprise Value/Market Cap: 1.17
• Enterprise Value/Revenue: 0.81
• Enterprise Value/Gross Profit: 11.33
• Enterprise Value/Ebitda: 8.44
• 1Y Price Target: $148.67
• Price Target Upside: 18.95% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 71 Outperform
• Price Target: $138.00 ▲(10.41%Upside)

Limbach Holdings' strong financial performance and positive strategic direction are significant strengths. However, technical indicators suggest bearish momentum, and the high P/E ratio indicates potential overvaluation. The company’s strategic focus and recent acquisitions provide a strong growth outlook.

Limbach Holdings Business Overview & Revenue Model

Company Description

Limbach Holdings, Inc. is a leading provider of building systems solutions with a focus on designing, engineering, constructing, and servicing complex heating, ventilation, air conditioning (HVAC) and mechanical, electrical, and plumbing (MEP) systems. Serving a diverse range of sectors including healthcare, education, government, and commercial markets, the company offers a comprehensive suite of services that include energy-efficient design, installation, maintenance, and retrofit solutions.

How the Company Makes Money

Limbach Holdings generates revenue primarily through its construction and service segments. The construction segment involves the design and installation of complex HVAC and MEP systems for new buildings and large-scale renovation projects. This segment is driven by contracts with building owners, general contractors, and developers. The service segment focuses on maintaining, repairing, and optimizing existing systems, generating recurring revenue through ongoing service agreements, preventative maintenance contracts, and retrofit projects. The company also leverages key partnerships with equipment manufacturers and technology providers to enhance its service offerings. Additionally, Limbach's emphasis on energy-efficient solutions helps attract clients looking to reduce operational costs and comply with environmental regulations, further contributing to its revenue streams.

Limbach Holdings Financial Statement Overview

Summary

Limbach Holdings shows strong financial health with impressive revenue growth, improved profit margins, and robust cash flow generation. The balance sheet is stable with low leverage, and the company effectively utilizes its equity capital.

Income Statement

Limbach Holdings has demonstrated strong revenue growth with a TTM (Trailing-Twelve-Months) revenue of $532.9M, up from $518.8M in the previous year. The gross profit margin improved to 27.9%, indicating efficient cost management. Net profit margin has also increased to 6.3%, reflecting enhanced profitability. EBIT and EBITDA margins have shown consistent improvement, highlighting operational efficiency.

Balance Sheet

The company's balance sheet is solid with a debt-to-equity ratio of 0.30, indicating a conservative leverage position. Return on Equity (ROE) has improved to 20.8%, showcasing effective use of equity capital. The equity ratio stands at 47.9%, suggesting a strong equity base relative to total assets, which enhances financial stability.

Cash Flow

Limbach Holdings has shown robust cash flow management with a free cash flow growth rate of 22.2% in the TTM period. The operating cash flow to net income ratio is 1.28, indicating strong cash generation relative to net income. The free cash flow to net income ratio is 1.07, reflecting efficient conversion of profits into cash.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	518.78M	516.35M	496.78M	490.35M	568.21M
Gross Profit	144.28M	119.29M	93.74M	85.91M	81.39M
EBITDA	54.28M	38.39M	24.17M	22.26M	24.86M
Net Income	30.88M	20.75M	6.80M	6.71M	5.81M
Balance Sheet
Total Assets	352.13M	304.44M	294.56M	267.51M	262.16M
Cash, Cash Equivalents and Short-Term Investments	44.93M	59.83M	36.00M	14.48M	42.15M
Total Debt	48.73M	41.98M	50.30M	60.64M	62.44M
Total Liabilities	198.64M	183.52M	199.11M	179.67M	208.43M
Stockholders Equity	153.49M	120.92M	95.44M	87.84M	53.73M
Cash Flow
Free Cash Flow	29.26M	55.10M	34.38M	-25.02M	38.33M
Operating Cash Flow	36.78M	57.37M	35.37M	-24.23M	39.81M
Investing Cash Flow	-42.57M	-17.09M	-495.00K	-19.30M	-1.32M
Financing Cash Flow	-9.12M	-16.49M	-13.35M	15.87M	-4.69M

Limbach Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 124.99
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LMB, the sentiment is Negative. The current price of 124.99 is below the 20-day moving average (MA) of 139.85, below the 50-day MA of 135.62, and above the 200-day MA of 100.37, indicating a neutral trend. The MACD of -2.16 indicates Positive momentum. The RSI at 35.73 is Neutral, neither overbought nor oversold. The STOCH value of 26.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LMB.

Limbach Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVEE	80 Outperform	$1.55B	47.19	3.79%	―	8.65%	-22.72%
WLDN	74 Outperform	$1.19B	48.65	10.78%	―	12.40%	81.98%
LMB	71 Outperform	$1.44B	44.58	23.37%	―	3.62%	28.02%
AMRC	67 Neutral	$987.90M	18.51	5.64%	―	30.13%	-7.60%
MTRX	63 Neutral	$414.99M	―	-14.26%	―	-0.29%	-6.77%
TPC	63 Neutral	$2.59B	―	-12.28%	―	8.95%	-41.32%
Sector *	61 Neutral	C$6.54B	7.71	3.45%	2.57%	6.48%	-23.10%

Limbach Holdings Corporate Events

Limbach Holdings Acquires Pioneer Power for $66.1 Million

On June 27, 2025, Limbach Holdings LLC and its subsidiary entered into a second amendment to their credit agreement with Wheaton Bank & Trust Company, increasing their revolving credit facility from $50 million to $100 million, extending the maturity date, and modifying several financial terms. Additionally, on July 1, 2025, Limbach Holdings announced the acquisition of Pioneer Power, Inc. for $66.1 million, funded through cash and the company’s credit facility, potentially enhancing its market position in the mechanical contracting industry.

The most recent analyst rating on (LMB) stock is a Buy with a $67.00 price target. To see the full list of analyst forecasts on Limbach Holdings stock, see the LMB Stock Forecast page.

Limbach Holdings Approves Incentive Plan Amendment

On June 11, 2025, Limbach Holdings, Inc. held its annual stockholders meeting where key decisions were made, including the election of directors and approval of executive compensation. Notably, the stockholders approved an amendment to the Omnibus Incentive Plan, which introduces accelerated vesting provisions for restricted stock units and performance stock units in cases of death, disability, retirement, or reduction in force, potentially impacting employee retention and motivation strategies.

The most recent analyst rating on (LMB) stock is a Buy with a $67.00 price target. To see the full list of analyst forecasts on Limbach Holdings stock, see the LMB Stock Forecast page.

Limbach Holdings Reports Record Q1 2025 Net Income

Limbach Holdings, Inc. reported a record net income of $10.2 million for the first quarter of 2025, with total revenue increasing by 11.9% to $133.1 million compared to the same period in 2024. The company’s strategic focus on expanding its Owner Direct Relationships (ODR) segment resulted in a 21.7% increase in ODR revenue, contributing to higher gross profits and adjusted EBITDA. Despite increased SG&A expenses, Limbach’s emphasis on the ODR segment is expected to enhance margins, reduce risk, and drive more predictable revenue, positioning the company for continued growth and long-term value delivery to stakeholders.