Balance Sheet Limbach Holdings, Inc.

Equities

LMB

US53263P1057

Construction & Engineering

Market Closed - Nasdaq Other stock markets 20:00:00 13/03/2026 GMT			5-day change	1st Jan Change
79.03 ^USD	-0.57%		-3.74%	+1.52%

03-03	Limbach Holdings, Inc., Q4 2025 Earnings Call, Mar 03, 2026
03-03	Limbach Holdings Seeks Acquisitions	CI

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Published financial data: LIMBACH HOLDINGS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	490M	497M	516M	519M	647M
Total Revenues	490M	497M	516M	519M	647M
Cost of Goods Sold, Total	404M	403M	397M	374M	477M
Gross Profit	85.91M	93.74M	119M	144M	169M
Selling General & Admin Expenses, Total	71.44M	77.88M	85.4M	97.2M	110M
Amortization of Goodwill and Intangible Assets - (IS)	484K	1.57M	1.88M	4.69M	8.36M
Other Operating Expenses, Total	71.92M	79.45M	87.28M	102M	118M
Operating Income	13.99M	14.3M	32.01M	42.39M	51.44M
Interest Expense, Total	-2.57M	-1.83M	-2.17M	-1.84M	-3.32M
Interest And Investment Income	-	-	1.22M	2.23M	815K
Net Interest Expenses	-2.57M	-1.83M	-953K	392K	-2.51M
Other Non Operating Income (Expenses)	14K	-	-	-	-
EBT, Excl. Unusual Items	11.44M	12.46M	31.06M	42.79M	48.93M
Merger & Related Restructuring Charges	-	-	-1M	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	2K	281K	80K	950K	1.68M
Other Unusual Items	-1.96M	-3.13M	-2.04M	-3.77M	-1.98M
EBT, Incl. Unusual Items	9.48M	9.61M	28.1M	39.97M	48.63M
Income Tax Expense	2.76M	2.81M	7.35M	9.09M	9.56M
Earnings From Continuing Operations	6.71M	6.8M	20.75M	30.88M	39.06M
Net Income to Company	6.71M	6.8M	20.75M	30.88M	39.06M
Net Income - (IS)	6.71M	6.8M	20.75M	30.88M	39.06M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	6.71M	6.8M	20.75M	30.88M	39.06M
Net Income to Common Excl. Extra Items	6.71M	6.8M	20.75M	30.88M	39.06M
Per Share Items
Net EPS - Basic	0.67	0.65	1.93	2.75	3.37
Basic EPS - Continuing Operations	0.67	0.65	1.93	2.75	3.37
Basic Weighted Average Shares Outstanding	10.01M	10.43M	10.77M	11.24M	11.58M
Net EPS - Diluted	0.66	0.64	1.76	2.57	3.23
Diluted EPS - Continuing Operations	0.66	0.64	1.76	2.57	3.23
Diluted Weighted Average Shares Outstanding	10.23M	10.68M	11.81M	12.03M	12.08M
Normalized Basic EPS	0.71	0.75	1.8	2.38	2.64
Normalized Diluted EPS	0.7	0.73	1.64	2.22	2.53
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	19.94M	22.45M	40.26M	54.28M	69.57M
EBITA	14.47M	15.86M	33.89M	47.08M	59.8M
EBIT	13.99M	14.3M	32.01M	42.39M	51.44M
EBITDAR	24.66M	26.54M	43.79M	58.4M	73.74M
Effective Tax Rate - (Ratio)	29.15	29.24	26.14	22.75	19.67
Current Domestic Taxes	1.01M	3.31M	7.7M	9.44M	6.95M
Total Current Taxes	1.01M	3.31M	7.7M	9.44M	6.95M
Deferred Domestic Taxes	1.76M	-499K	-350K	-352K	2.61M
Total Deferred Taxes	1.76M	-499K	-350K	-352K	2.61M
Normalized Net Income	7.15M	7.79M	19.41M	26.74M	30.58M
Interest on Long-Term Debt	505K	264K	384K	515K	937K
Supplemental Operating Expense Items
Net Rental Expense, Total	4.72M	4.08M	3.53M	4.12M	4.16M
Imputed Operating Lease Interest Expense	1.58M	1.08M	1.33M	1.33M	2.12M
Imputed Operating Lease Depreciation	3.15M	3M	2.2M	2.79M	2.05M
Stock-Based Comp., SG&A Exp. (Total)	2.6M	2.74M	4.91M	5.77M	7.02M
Total Stock-Based Compensation	2.6M	2.74M	4.91M	5.77M	7.02M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	14.48M	36M	59.83M	44.93M	11.34M
Total Cash And Short Term Investments	14.48M	36M	59.83M	44.93M	11.34M
Accounts Receivable, Total	173M	186M	149M	167M	179M
Other Receivables	114K	95K	-	-	-
Total Receivables	173M	186M	149M	167M	179M
Restricted Cash	113K	113K	65K	65K	65K
Other Current Assets, Total	5.01M	3.89M	7.66M	8.13M	4.97M
Total Current Assets	193M	226M	217M	220M	195M
Gross Property Plant And Equipment	82.51M	78.23M	87.55M	104M	120M
Accumulated Depreciation	-40.77M	-41.72M	-46.99M	-52.01M	-57.19M
Net Property Plant And Equipment	41.74M	36.51M	40.56M	51.66M	63.1M
Long-term Investments	-	300K	200K	200K	-
Goodwill	11.37M	11.37M	16.37M	33.03M	70.6M
Other Intangibles, Total	16.91M	15.34M	25M	41.23M	49.19M
Deferred Tax Assets Long-Term	4.33M	4.83M	5.18M	5.53M	2.92M
Other Long-Term Assets, Total	259K	215K	130K	137K	276K
Total Assets	268M	295M	304M	352M	381M
Liabilities
Accounts Payable, Total	63.84M	75.12M	65.27M	60.81M	74.17M
Accrued Expenses, Total	21.13M	18.32M	23.1M	27.51M	22.35M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	7.43M	7.43M	-	-	-
Current Portion of Leases	6.82M	5.7M	6.31M	7.41M	9.41M
Current Income Taxes Payable	501K	1.89M	446K	1.47M	1.15M
Unearned Revenue Current, Total	26.29M	43.81M	41.99M	44.42M	20.89M
Other Current Liabilities	3.73M	6.82M	8.04M	9.42M	7.11M
Total Current Liabilities	130M	159M	145M	151M	135M
Long-Term Debt	27.14M	13.36M	9.61M	9.63M	9.65M
Long-Term Leases	19.26M	23.81M	26.06M	31.69M	36.82M
Other Non Current Liabilities	3.54M	2.86M	2.71M	6.28M	3.92M
Total Liabilities	180M	199M	184M	199M	185M
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	1K	1K	1K	1K	1K
Additional Paid In Capital	85M	87.81M	92.53M	94.23M	97.34M
Retained Earnings	2.83M	9.63M	30.39M	61.26M	100M
Treasury Stock	-	-2M	-2M	-2M	-2M
Total Common Equity	87.84M	95.44M	121M	153M	196M
Total Equity	87.84M	95.44M	121M	153M	196M
Total Liabilities And Equity	268M	295M	304M	352M	381M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	10.42M	10.45M	11.13M	11.35M	11.68M
ECS Total Common Shares Outstanding	10.3M	10.29M	11M	11.27M	11.63M
Book Value / Share	8.52	9.27	10.99	13.62	16.83
Tangible Book Value	59.56M	68.73M	79.54M	79.23M	75.87M
Tangible Book Value Per Share	5.78	6.68	7.23	7.03	6.53
Total Debt	60.64M	50.3M	41.98M	48.73M	55.87M
Net Debt	46.16M	14.3M	-17.86M	3.8M	44.53M
Debt Equivalent Oper. Leases	37.79M	32.66M	28.27M	32.96M	33.31M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	400K	400K	400K	400K	1.52M
Buildings, Total	10.72M	10.49M	11M	11.43M	15.03M
Machinery, Total	24.6M	26.06M	31.16M	39.6M	38.14M
Full Time Employees	1.65K	1.5K	1.4K	1.4K	1.5K
Accumulated Allowance for Doubtful Accounts (Supple)	263K	234K	292K	387K	396K
Order Backlog	435M	411M	334M	365M	398M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	6.71M	6.8M	20.75M	30.88M	39.06M
Depreciation & Amortization - CF	5.46M	6.59M	6.36M	7.2M	9.78M
Amortization of Goodwill and Intangible Assets - (CF)	484K	1.57M	1.88M	4.69M	8.36M
Depreciation & Amortization, Total	5.95M	8.16M	8.24M	11.89M	18.13M
Amortization of Deferred Charges, Total - (CF)	280K	138K	79K	43K	54K
(Gain) Loss From Sale Of Asset	-2K	-281K	-80K	-950K	-1.68M
(Gain) Loss on Sale of Investments - (CF)	-	-310K	124K	-34K	191K
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	2.6M	2.74M	4.91M	5.77M	7.02M
Provision and Write-off of Bad Debts	198K	292K	431K	201K	404K
Other Operating Activities, Total	7.97M	6.9M	4.51M	7.53M	8.68M
Change In Accounts Receivable	-11.65M	-13M	43M	-2.77M	-20.31M
Change In Accounts Payable	-5.58M	11.28M	-10.91M	-10.3M	5.29M
Change in Unearned Revenues	-20.4M	17.3M	-9.12M	-2.95M	-
Change In Income Taxes	-1.28M	1.41M	-1.35M	1.02M	-318K
Change in Other Net Operating Assets	-9.04M	-6.05M	-3.24M	-3.55M	-10.81M
Cash from Operations	-24.23M	35.37M	57.37M	36.78M	45.7M
Capital Expenditure	-791K	-993K	-2.27M	-7.52M	-3.81M
Sale of Property, Plant, and Equipment	467K	498K	435K	1.54M	1.88M
Cash Acquisitions	-18.98M	-	-15.26M	-36.59M	-65.65M
Investment in Marketable and Equity Securities, Total	-2K	-	-	-	-
Other Investing Activities, Total	-	-	-	7K	-
Cash from Investing	-19.3M	-495K	-17.09M	-42.57M	-67.59M
Short Term Debt Issued, Total	-	15.19M	-	-	-
Long-Term Debt Issued, Total	40M	5.4M	10M	-	73.84M
Total Debt Issued	40M	20.59M	10M	-	73.84M
Short Term Debt Repaid, Total	-	-15.19M	-	-	-
Long-Term Debt Repaid, Total	-46.74M	-16.21M	-24.18M	-3.04M	-78.21M
Total Debt Repaid	-46.74M	-31.41M	-24.18M	-3.04M	-78.21M
Issuance of Common Stock	25.08M	309K	368K	440K	7M
Repurchase of Common Stock	-459K	-2.42M	-847K	-5.19M	-10.68M
Issuance of Preferred Stock	-	-	-	-	-
Repurchase of Preferred Stock	-	-	-	-	-
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-2.02M	-433K	-1.83M	-1.32M	-3.64M
Cash from Financing	15.86M	-13.35M	-16.49M	-9.12M	-11.7M
Net Change in Cash	-27.67M	21.52M	23.78M	-14.9M	-33.58M
Supplemental Items
Cash Interest Paid	2.55M	2M	1.91M	1.9M	3.1M
Cash Income Tax Paid (Refund)	2.29M	1.98M	9.16M	8.53M	7.35M
Levered Free Cash Flow	-30.32M	36.74M	55.32M	22.08M	25.21M
Unlevered Free Cash Flow	-28.99M	37.74M	56.6M	23.19M	27.24M
Change In Net Working Capital	45.49M	-18.9M	-25.7M	13.45M	26.25M
Net Debt Issued / Repaid	-6.74M	-10.81M	-14.18M	-3.04M	-4.37M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.3	3.18	6.68	8.07	8.77
Return on Total Capital	6.61	6.07	12.97	14.51	14.17
Return On Equity %	9.48	7.42	19.18	22.5	22.38
Return on Common Equity	9.48	7.42	19.18	22.5	22.38
Margin Analysis
Gross Profit Margin %	17.52	18.87	23.1	27.81	26.18
SG&A Margin	14.57	15.68	16.54	18.74	16.93
EBITDA Margin %	4.07	4.52	7.8	10.46	10.76
EBITA Margin %	2.95	3.19	6.56	9.08	9.24
EBIT Margin %	2.85	2.88	6.2	8.17	7.95
Income From Continuing Operations Margin %	1.37	1.37	4.02	5.95	6.04
Net Income Margin %	1.37	1.37	4.02	5.95	6.04
Net Avail. For Common Margin %	1.37	1.37	4.02	5.95	6.04
Normalized Net Income Margin	1.46	1.57	3.76	5.15	4.73
Levered Free Cash Flow Margin	-6.18	7.39	10.71	4.26	3.9
Unlevered Free Cash Flow Margin	-5.91	7.6	10.96	4.47	4.21
Asset Turnover
Asset Turnover	1.85	1.77	1.72	1.58	1.76
Fixed Assets Turnover	12.23	12.7	13.4	11.25	11.27
Receivables Turnover (Average Receivables)	3.01	2.77	3.08	3.28	3.74
Short Term Liquidity
Current Ratio	1.49	1.42	1.5	1.46	1.44
Quick Ratio	1.45	1.4	1.44	1.4	1.41
Operating Cash Flow to Current Liabilities	-0.19	0.22	0.4	0.24	0.34
Days Sales Outstanding (Average Receivables)	121.35	131.92	118.52	111.7	97.59
Average Days Payable Outstanding	58.93	62.92	64.53	61.61	51.59
Long Term Solvency
Total Debt/Equity	69.03	52.7	34.71	31.75	28.56
Total Debt / Total Capital	40.84	34.51	25.77	24.1	22.21
LT Debt/Equity	52.82	38.95	29.5	26.92	23.75
Long-Term Debt / Total Capital	31.25	25.51	21.9	20.43	18.47
Total Liabilities / Total Assets	67.16	67.6	60.28	56.41	48.66
EBIT / Interest Expense	5.45	7.79	14.75	23.1	15.48
EBITDA / Interest Expense	9.6	14.47	20.18	31.83	22.18
(EBITDA - Capex) / Interest Expense	9.3	13.93	19.14	27.73	21.04
Total Debt / EBITDA	2.46	1.9	0.96	0.83	0.76
Net Debt / EBITDA	1.87	0.54	-0.41	0.07	0.6
Total Debt / (EBITDA - Capex)	2.54	1.97	1.01	0.96	0.8
Net Debt / (EBITDA - Capex)	1.93	0.56	-0.43	0.07	0.64
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-13.7	1.31	3.94	0.47	24.68
Gross Profit, 1 Yr. Growth %	5.56	9.12	27.25	20.95	17.35
EBITDA, 1 Yr. Growth %	-14.52	9.32	79.29	38.27	28.17
EBITA, 1 Yr. Growth %	-18.62	5.23	113.67	43.14	27
EBIT, 1 Yr. Growth %	-18.45	-2.02	123.95	36.7	21.34
Earnings From Cont. Operations, 1 Yr. Growth %	15.62	1.27	205.25	48.77	26.52
Net Income, 1 Yr. Growth %	15.62	1.27	205.25	48.77	26.52
Normalized Net Income, 1 Yr. Growth %	65.88	3.53	149.26	42.34	14.36
Diluted EPS Before Extra, 1 Yr. Growth %	-8.33	-3.03	175	46.02	25.68
Accounts Receivable, 1 Yr. Growth %	13.3	7.34	-19.61	11.89	6.86
Net Property, Plant and Equip., 1 Yr. Growth %	8.55	-12.53	11.08	27.39	22.13
Total Assets, 1 Yr. Growth %	2.04	10.11	3.36	15.66	8.24
Tangible Book Value, 1 Yr. Growth %	65.81	15.4	15.73	-0.39	-4.23
Common Equity, 1 Yr. Growth %	63.47	8.66	26.69	26.94	27.47
Cash From Operations, 1 Yr. Growth %	-160.86	-245.97	62.17	-35.88	24.24
Capital Expenditures, 1 Yr. Growth %	-46.66	25.54	128.2	232.04	-49.4
Levered Free Cash Flow, 1 Yr. Growth %	-188.79	-222.7	50.6	-59.63	14.19
Unlevered Free Cash Flow, 1 Yr. Growth %	-177.56	-231.9	49.96	-58.58	17.48
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-5.86	-6.5	2.62	2.19	11.92
Gross Profit, 2 Yr. CAGR %	9.33	7.32	17.84	24.06	19.14
EBITDA, 2 Yr. CAGR %	17.86	-1.89	40	55.49	34.85
EBITA, 2 Yr. CAGR %	28.92	-5.56	49.95	72.29	36.93
EBIT, 2 Yr. CAGR %	31.69	-8.72	48.13	72.21	30.92
Earnings From Cont. Operations, 2 Yr. CAGR %	94.49	8.2	75.82	113.1	37.19
Net Income, 2 Yr. CAGR %	94.49	8.2	75.82	113.1	37.19
Normalized Net Income, 2 Yr. CAGR %	103.63	34.44	60.64	85.3	29.76
Diluted EPS Before Extra, 2 Yr. CAGR %	68.79	-5.72	63.3	100.39	35.47
Accounts Receivable, 2 Yr. CAGR %	-2.52	10.28	-7.11	-5.16	9.34
Net Property, Plant and Equip., 2 Yr. CAGR %	-0.71	-2.55	-1.43	18.95	24.73
Total Assets, 2 Yr. CAGR %	1.12	6	6.68	9.34	11.89
Tangible Book Value, 2 Yr. CAGR %	44.74	38.32	15.56	7.36	-2.33
Common Equity, 2 Yr. CAGR %	36.9	33.28	17.33	26.82	27.21
Cash From Operations, 2 Yr. CAGR %	411.56	-5.74	53.86	1.97	-10.75
Capital Expenditures, 2 Yr. CAGR %	-45.5	-18.17	69.26	175.26	29.62
Levered Free Cash Flow, 2 Yr. CAGR %	123.35	3.73	35.93	-22.47	-31.71
Unlevered Free Cash Flow, 2 Yr. CAGR %	186.12	0.49	40.64	-21.62	-29.85
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-3.55	-3.53	-3.14	1.9	9.19
Gross Profit, 3 Yr. CAGR %	13.07	9.26	13.59	18.87	21.78
EBITDA, 3 Yr. CAGR %	43.46	16.09	19.95	38.26	45.79
EBITA, 3 Yr. CAGR %	83.51	22.12	23.98	46.18	55.63
EBIT, 3 Yr. CAGR %	135.58	21.01	23.12	42.7	53.24
Earnings From Cont. Operations, 3 Yr. CAGR %	53.81	56.46	52.89	66.29	79.11
Net Income, 3 Yr. CAGR %	53.81	56.46	52.89	66.29	79.11
Normalized Net Income, 3 Yr. CAGR %	72.32	65.32	65.16	52.62	57.76
Diluted EPS Before Extra, 3 Yr. CAGR %	8.1	40.32	34.71	57.32	71.53
Accounts Receivable, 3 Yr. CAGR %	0.94	0.66	-0.75	-1.16	-1.31
Net Property, Plant and Equip., 3 Yr. CAGR %	26.69	-4.82	1.79	7.37	20.01
Total Assets, 3 Yr. CAGR %	1.79	4.03	5.11	9.59	8.97
Tangible Book Value, 3 Yr. CAGR %	37.47	34.21	30.34	9.98	3.35
Common Equity, 3 Yr. CAGR %	23.73	26.75	31.04	20.45	27.03
Cash From Operations, 3 Yr. CAGR %	-1.45	236.79	12.95	14.92	8.91
Capital Expenditures, 3 Yr. CAGR %	-41.13	-28.02	15.18	111.88	56.51
Levered Free Cash Flow, 3 Yr. CAGR %	9.87	82.16	17.45	-9.65	-11.79
Unlevered Free Cash Flow, 3 Yr. CAGR %	5.7	120.07	14.83	-6.77	-10.3
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	1.87	0.45	-1.13	-1.28	2.62
Gross Profit, 5 Yr. CAGR %	9.07	7.39	14.95	14.95	15.78
EBITDA, 5 Yr. CAGR %	7.87	8.21	42.91	30.48	24.43
EBITA, 5 Yr. CAGR %	8.98	10.56	70.65	40.14	27.45
EBIT, 5 Yr. CAGR %	17.25	18.89	97.33	39.35	24.56
Earnings From Cont. Operations, 5 Yr. CAGR %	29.13	57.03	62.26	77.04	46.41
Net Income, 5 Yr. CAGR %	29.13	57.03	62.26	77.04	46.41
Normalized Net Income, 5 Yr. CAGR %	34.27	25.62	69.27	73.04	47.99
Diluted EPS Before Extra, 5 Yr. CAGR %	28.28	37.55	27.5	61.82	35.01
Accounts Receivable, 5 Yr. CAGR %	3.48	2.75	-2.36	-1.71	3.17
Net Property, Plant and Equip., 5 Yr. CAGR %	17.62	15.3	14.59	4.06	10.41
Total Assets, 5 Yr. CAGR %	5.28	6.7	3.72	6.12	7.77
Tangible Book Value, 5 Yr. CAGR %	25.47	24	28.25	22.75	16.13
Common Equity, 5 Yr. CAGR %	13.11	14.66	21.13	26.78	29.5
Cash From Operations, 5 Yr. CAGR %	38.51	54.14	17.77	108.84	2.8
Capital Expenditures, 5 Yr. CAGR %	-25.27	-21.37	-10.18	23.09	20.75
Levered Free Cash Flow, 5 Yr. CAGR %	40.63	33.63	19.34	29.44	-5.88
Unlevered Free Cash Flow, 5 Yr. CAGR %	31.66	38.04	18.18	45.62	-6.13