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← CockpitCompetitor Analysis › LMB Limbach Holdings, Inc.Open in the cockpit ↗

Limbach Holdings, Inc.LMBCompetitor analysis, valuation and peers

United States · USD·Industrials›Engineering & Construction
Momentum laggard 11
Mkt cap
$627M
US dollars, full cap
Free float
93%
of shares outstanding
$/day
$15.2M
20-day average traded
Fwd P/E
11.7×
forward earnings
ROIC−WACC
-1.1 pp
WACC 10.3%
Hurdle
+10 pp
Req g minus delivered
Next earnings
131 days
17 Mar 2027
Close · USD$53.45
1D-1.9%
1W-25.4%
1M-31.1%
3M-27.9%
6M-36.4%
YTD-31.3%
1Y-51.3%
ATR %9.5%
Beta1.19
52w lowhigh58.4% off high

What Limbach does

Employees: 1,500

Limbach at a glance

Size Limbach (LMB) is a United States Industrials company (Engineering & Construction) with a market value of $627M, the 2562nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $53.45 on 6 Nov 2026.

Performance Over six months the shares fell 36.4%, against -17.1% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 20 in its peer set.

Growth Revenue grew 20.9% over the last twelve months (peer median +7.3%); the operating margin is 5.5% (peer median 8.7%).

Valuation It trades at 11.7× forward earnings against a peer median of 12.0× (4th cheapest of 10).

Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.

Capital Return on invested capital runs 1.1 points below its cost of capital (10.3% WACC).

Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).

Relative performance

7510012511 May 202611 Aug 20266 Nov 2026Peer median 83LMB 62
Six months, rebased to 100: Limbach against the median of its 20 peers (local-currency closes).

Limbach financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$730M$647M$519M$516M$497M
Revenue growth—+25%0%+4%—
Gross profit$161M$161M$140M$117M$92.2M
EBITDA$60.6M$68.4M$53.1M$37.6M$26.7M
Net income$30.9M$39.1M$30.9M$20.8M$6.80M
Free cash flow$57.3M$41.9M$29.3M$55.1M$33.9M
Capital expenditure$2.03M$3.81M$7.52M$2.27M$993,000
Total debt$176M$55.9M$48.7M$42.0M$50.3M

Quarterly statements and history in the cockpit →

Limbach competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%0%-20%0%TRANSRAILL55343010583003889621MG19651757CLOUD1871000886002482F9D00121068867959111939LMB6-month return →1-month return →
Up and to the right = strong over both horizons. Limbach is the large dot.

Fundamentals: revenue growth against valuation

-25%0%+25%+50%+75%5×10×15×TRANSRAILL5534301058300388MGCLOUDF9D5911LMBRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Limbach is the large dot.

Capital: growth delivered against growth the price implies

0%+50%+100%+150%0%100%TRANSRAILL301058300388MG1965CLOUD002482IGLMBGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Limbach is the large dot.

Limbach competitors and peer comparison

How Limbach compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Limbach against its 20 peers (data as of 6 Nov 2026)
MeasureLMBPeer medianRank in peer set
1-month return-31.1%-6.7%lowest of 21
6-month return-36.4%-17.1%3rd lowest of 20
Distance from 52-week high-58.4%-35.0%3rd lowest of 21
Revenue growth (TTM)+20.9%+7.3%6th highest of 21
Operating margin5.5%8.7%8th lowest of 21
Forward P/E11.7×12.0×4th cheapest of 10
Growth the price implies (Req g, 7 yrs)12.6%3.1%4th most demanding of 15
Growth delivered (Del g)+2.6%+8.8%6th lowest of 15
Hurdle (Req g minus delivered)+10.0 pp-10.7 pp2nd most demanding of 15
ROIC minus cost of capital-1.1 pp+0.8 pp8th lowest of 21
EV / EBITDA12.6×6.9×4th most expensive of 12
Net debt / EBITDA2.3×0.4×4th most indebted of 14

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Limbach LMBUnited States$627M-36%+21%6%11.7×12.6%+2.6%
Transrail Lighting TRANSRAILL.NSIndia$628M-25%+14%11%10.5×5.9%+25.9%
Chong Hong Development 5534.TWTaiwan$625M-16%-18%24%2.8×n/an/a
COFCO Technology & Industry 301058.SZChina$630M-17%+3%8%17.2×-3.5%+8.4%
Cecep Guozhen Environmental Protection Technology 300388.SZChina$632M-22%+5%18%11.8×-2.0%-1.0%
CTI Engineering 9621.TJapan$619M+22%+8%9%12.0×-9.0%+9.2%
Beijing SPC Environment Protection Tech 002573.SZChina$619M-22%+1%-2%n/a5.2%+13.7%
Mistras MGUnited States$642M+14%+5%7%16.4×7.6%+4.1%
Techno Ryowa 1965.TJapan$644M+12%+14%16%n/a-11.0%+12.5%
Global Chinese Business Club 1757.HKHong Kong$610M-78%+121%1%n/an/an/a
Cloudberry Clean Energy CLOUD.OLNorway$645M+2%+79%14%14.4×41.7%+168.9%
PS Construction 1871.TJapan$656M-17%+6%9%n/an/an/a
Hainan Expressway 000886.SZChina$598M-27%+185%-12%n/an/an/a
Shenzhen Grandland 002482.SZChina$658M-32%+46%-4%n/a24.9%-33.5%
Boustead Singapore F9D.SISingapore$662M-35%+18%12%9.3×-11.4%-1.9%
Kingfore Energy 001210.SZChina$662M+32%+15%12%n/a13.4%+9.6%
Anhui Tongyuan Environment Energy Saving 688679.SSChina$586M-43%-17%0%n/an/an/a
InstallatorGruppen A/S IG.CODenmark$584Mn/a+51%4%n/a9.1%+50.8%
Hainan Jingliang 000505.SZChina$583M-14%-19%-4%n/an/an/a
Yokogawa Bridge 5911.TJapan$679M-6%+4%8%12.9×-12.8%+1.1%
Yondenko 1939.TJapan$685M+10%+7%11%n/a1.1%+2.1%

Questions

Which companies are Limbach's closest peers?
The cockpit's peer set: Transrail Lighting (TRANSRAILL.NS), Chong Hong Development (5534.TW), COFCO Technology & Industry (301058.SZ), Cecep Guozhen Environmental Protection Technology (300388.SZ), CTI Engineering (9621.T), Beijing SPC Environment Protection Tech (002573.SZ), Mistras (MG), Techno Ryowa (1965.T).
Is Limbach expensive compared with its peers?
On forward p/e it trades at 11.7× against a peer median of 12.0×, 4th cheapest of 10 in its peer set. For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
How has Limbach stock performed?
Over six months to 6 Nov 2026 the shares returned -36.4% against -17.1% for the median peer; over one year -51.3%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.