LMB
Limbach Holdings, Inc.
LMB's fundamentals are mixed: revenue grew 21%, but its operating margin fell 2 points to 5.6%. At 22x earnings, it's trading below its usual 26x. Analysts expect strong earnings growth, though they disagree widely on how much.
LMB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Stable |
LMB's revenue and cash flow are currently healthy, and its profitability and balance sheet are stable.
LMB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $56.65 | — |
| Cheap | 16x | $39.79 | -30% |
| Current | 22x | $56.65 | — |
| Fair | 26x | $66.46 | +17% |
| Expensive | 39x | $101 | +77% |
Historical ranges are pointers, not guarantees.
LMB's PE is in its fair range at 22x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its cheap range.
LMB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for LMB, with profitability holding steady. However, they disagree widely on these estimates.
LMB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.73 | +85% |
| Q3 2026 | $2.55 | -16% |
| Q2 2026 | $2.49 | -15% |
| Q1 2026 | $2.74 | -1.4% |
| Q4 2025 | $3.23 | +26% |
| Q3 2025 | $3.03 | +39% |
| Q2 2025 | $2.92 | +35% |
| Q1 2025 | $2.78 | +31% |
| Q4 2024 | $2.57 | +46% |
LMB earned $2.55 per share over the past year, down 16% from the year before.
LMB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $230.5M | +25% |
| Q2 2026 | $173.5M | +22% |
| Q1 2026 | $138.9M | +4.3% |
| Q4 2025 | $186.9M | +30% |
| Q3 2025 | $184.6M | +38% |
| Q2 2025 | $142.2M | +16% |
| Q1 2025 | $133.1M | +12% |
| Q4 2024 | $143.7M | +0.7% |
LMB's revenue has grown year over year for nine quarters in a row: $230M last quarter, up 25% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6.5% | -0.7 points |
| Q2 2026 | 4.2% | -3.3 points |
| Q1 2026 | 0.8% | -5.1 points |
| Q4 2025 | 9.4% | +0.3 points |
| Q3 2025 | 7.2% | -0.9 points |
| Q2 2025 | 7.5% | +0.8 points |
| Q1 2025 | 5.9% | +0.5 points |
| Q4 2024 | 9.1% | +4 points |
LMB's operating margin was 6.5% last quarter, down 0.7 points from the same quarter a year ago.
LMB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $19.5M | +52% |
| Q2 2026 | $18.1M | +1466% |
| Q1 2026 | -$8.2M | -74800% |
| Q4 2025 | $27.9M | +55% |
| Q3 2025 | $12.8M | +180% |
| Q2 2025 | $1.2M | -91% |
| Q1 2025 | $11K | +$6.5M |
| Q4 2024 | $18M | +34% |
LMB generated $57M in free cash flow over the past year, up 79% from the year before.
LMB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -39.8K shares |
| 1 year | -0.9% | -107K shares |
| 3 years | +1.8% | +211K shares |
| 5 years | +14% | +1.5M shares |
| Available history | +57% | +4.3M shares |
LMB has 12M diluted shares, down 0.9% from a year ago.
LMB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.0x | Moderate |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
LMB's net debt is about 2.0 years of its operating earnings (EBITDA), up from less than a year a year ago.
LMB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.4 | Neutral |
| Stochastic | 47.5 | Neutral |
LMB's weekly RSI is 46 (neutral) and its Stochastic is 47 (neutral).
LMB PE vs Industrials Sector
| Metric | LMB | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 24x | 7.5% below |
| PE % | 35 | 58 | 23 pts below |
LMB is trading at 22x earnings, in line with the Industrials sector's median of 24x.
LMB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $50.8 | 11% above |
| 20 week MA | $55.3 | 2.4% above |
| 50 week MA | $71.3 | 21% below |
| 100 week MA | $87.0 | 35% below |
| 200 week MA | $65.1 | 13% below |
LMB has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 13% below its 200-week average.
LMB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.23 | $13.0 | +302% |
| 2021 | $13.0 | $9.04 | -30% |
| 2022 | $9.04 | $10.3 | +14% |
| 2023 | $10.3 | $45.5 | +343% |
| 2024 | $45.5 | $85.9 | +89% |
| 2025 | $85.9 | $79.3 | -7.7% |
| 2026 YTD | $79.3 | $56.7 | -29% |
LMB has finished higher in four of the last six years, three of them by more than 50%. It's down 29% so far in 2026.