Legence Corp. Class A (LGN) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Legence Corp. Class A stock $51.47, price $25.41, upside +102.6%, quality 54 out of 100. Rating: strongly undervalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
14‑month range $25.41 – $102.27 · fair‑value band $25.65 – $81.39 · the $25.41 price screens below the $51.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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Legence Corp. provides engineering, installation, and maintenance services for mission-critical systems in buildings in the United States. The company operates through two segments, Engineering & Consulting, and Installation & Maintenance.
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The Engineering & Consulting segment designs HVAC and other MEP systems for buildings, develops strategies to help reduce energy usage and make buildings more sustainable and provides program and project management services for client's installation and retrofit projects.
This segment also offers engineering & design and program and project management services.
The Installation & Maintenance segment fabricates and installs HVAC systems, process piping and other MEP systems in new and existing industrial, commercial and institutional buildings and provides ongoing preventative and corrective maintenance services, emergency repair, and break-fix services, as well as facility energy analysis, automation, optimization, and system certification and testing.
It serves data centers, technology, life sciences, healthcare, education, mixed-use, state and local government, and other markets. The company was founded in 1914 and is based in San Jose, California.
Stock analysis
Legence Corp. Class A (LGN) currently trades at $25.41, while our model-based Fair Value estimate is $51.47, implying the stock looks roughly 51% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $51.47 per share, and 7 of the 10 models we run sit above the $25.41 price.
Bear case: the Multiples group reads lowest at $11.13, and 3 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: $25.65 (bear) to $81.39 (bull), the price of $25.41 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Legence Corp. Class A Common stock reported revenue of $2.6B in FY2025 versus $1.2B in FY2022, a compound +27.0%/yr. Reported net income was −$59.8M in FY2025.
Key figures
Market cap $6.8B · P/S ratio 1.82 · EPS (TTM) $−0.8100 · Net margin −1.2% · Return on equity −12.4% · Return on assets (EBIT) 2.1% · Operating margin 2.8% · Revenue (TTM) $3.7B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 19 out of 100 (low confidence).
What moves the price
The share trades about 75% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at 103%, LGN screens cheaper than that median.
Fair Value models
Bear$25.65Fair Value $51.47Bull$81.39
Price $25.41 · Upside +102.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
SaleBlackstone Holdings I/II GP L.L.C.10% owner15,394,112 shares at $54.00$831.3MApr 9, 2026
SaleLegence Parent ML LLC10% owner1,260,326 shares at $45.00$56.7MJan 8, 2026
SaleBlackstone Holdings II L.P.10% owner1,260,326 shares at $45.00$56.7MJan 8, 2026
SaleStephen A Schwarzman10% owner8,402,178 shares at $45.00$378.1MDec 16, 2025
SaleLEGENCE PARENT LLC10% owner8,402,178 shares at $45.00$378.1MDec 16, 2025
Plus 11 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+21.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+27.0%
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−1.9% (2022) → 3.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−2.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+23.9%
Yearly sales growth analysts expect, extended to five years.
The revenue jump in 2026 (+87.8%) comes with 30% more shares (acquisition or merger paid in stock). Per share it is about +45.0%. The comparison above is unreliable in such a year.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −4.2% a year for the price and +21.0% for the forecasts.
AI conclusion: Legence's expanded fabrication capacity positions it to capture more AI-driven data center demand, yet sustained net losses and negative returns leave its financial profile under pressure.
Main risk: Established competitors such as EMCOR Group and Comfort Systems USA with superior scale, purchasing power and long track records could secure larger data center projects or pressure margins on Legence's MEP installation and fabrication services.
Bull case: By leveraging its expanded fabrication capacity and integration of acquired capabilities Legence could improve execution efficiency and win more integrated modular projects from data center clients despite competitive pressures.
Bear case: If larger rivals capture major projects and debt servicing constrains investment Legence might face sustained margin compression and slower growth in its core MEP services for mission-critical facilities.
Legence has grown its fabrication capacity sharply to handle larger data center projects and modular builds. This positions the company to capture more of the AI-driven demand but also adds operating complexity at a time when margins remain under pressure. Will the added scale improve execution efficiency enough to offset those strains or create new bottlenecks?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 789 stocks
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Cite: Fair Value Calculator (2026). "Legence Corp. Class A Common stock Fair Value". https://www.fairvalue-calculator.com/stock/LGN
Frequently asked questions
Is Legence Corp. Class A (LGN) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of $51.47 versus a price of $25.41, about +103% upside (undervalued).
What is the fair value of LGN?
Our model-based fair value for Legence Corp. Class A Common stock is $51.47 (as of Nov 1, 2026), built from audited fundamentals. The current price: $25.41.
What is the quality score of LGN?
Legence Corp. Class A Common stock has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Legence Corp. Class A (LGN)?
Our model-based price target is the fair value of $51.47 (as of Nov 1, 2026) from 12 valuation models. Cautious scenario $25.65, optimistic scenario $81.39. It is a calculation from audited fundamentals, not an analyst target.
What is the Legence Corp. Class A Common stock stock forecast for 2026?
Our models put fair value at $51.47, about +103% upside versus a price of $25.41 (undervalued). Cautious scenario $25.65, optimistic scenario $81.39. The calculation is refreshed regularly with new filings.
What is the revenue of Legence Corp. Class A (LGN)?
Legence Corp. Class A Common stock reported trailing-twelve-month revenue of about $3.7B (latest available figure, as of Nov 1, 2026).
What growth is priced into Legence Corp. Class A (LGN)?
For today's price to be fair in a discounted-cash-flow model, Legence Corp. Class A Common stock would have to grow free cash flow by -2.0 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +27.0 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of LGN use?
Our models discount Legence Corp. Class A Common stock at 9.7 %: a base by market capitalisation (mid), country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Legence Corp. Class A Common stock that is -2.0 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Legence Corp. Class A (LGN) delivered so far?
Over the past 3 years revenue at Legence Corp. Class A Common stock grew +27.0 % a year. The price currently implies -2.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Legence Corp. Class A (LGN) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Legence Corp. Class A Common stock (-2.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Legence Corp. Class A (LGN)?
The free-cash-flow yield on the price is 14.47 %: that much free cash flow Legence Corp. Class A Common stock produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Legence Corp. Class A (LGN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Legence Corp. Class A Common stock it is $51.47 per share (as of Nov 1, 2026), against a price of $25.41. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Legence Corp. Class A Common stock stock overvalued or undervalued in 2026?
As of Nov 1, 2026, LGN trades below its calculated fair value: price $25.41, fair value $51.47, a gap of about +103% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of LGN?
No. The price is what the market pays today ($25.41); the fair value is what the company's own numbers justify ($51.47). For Legence Corp. Class A Common stock the two are $26.06 per share apart. That gap is exactly why we show both numbers side by side.
How much is Legence Corp. Class A Common stock worth?
The market values Legence Corp. Class A Common stock at about $6.8B (market capitalisation, as of Nov 1, 2026). Per share that is $25.41; our models calculate a fair value of $51.47 per share.
What do the bullish and bearish scenarios say about LGN?
Our models span a range for Legence Corp. Class A Common stock: cautious scenario $25.65, base $51.47, optimistic $81.39 per share (as of Nov 1, 2026, price $25.41). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Legence Corp. Class A (LGN)?
Balance-sheet figures for Legence Corp. Class A Common stock (as of Nov 1, 2026): return on equity −12.4%, debt of 2.60 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is LGN from its 52-week high?
Legence Corp. Class A Common stock trades at $25.41, about 75% below its 52-week high of $102.27 and at the low of $25.41 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $51.47 is for.
Which stocks are comparable to Legence Corp. Class A Common stock?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Legence Corp. Class A Common stock stock attractive at the current price?
The data as of Nov 1, 2026: price $25.41, calculated fair value $51.47 (+103%), Quality Score 54/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of LGN calculated?
We run Legence Corp. Class A Common stock through 12 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $51.47, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Legence Corp. Class A Common stock currently trades 51% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Legence Corp. Class A (LGN)?
The closing price on Nov 5, 2026 was $25.41. Our model-based fair value is $51.47, about +103% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Legence Corp. Class A Common stock right now?
The model range is unusually wide ($25.65 to $81.39). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Legence Corp. Class A Common stock
How large is the market capitalisation of Legence Corp. Class A (LGN)?
The market capitalisation of Legence Corp. Class A Common stock is $6.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Legence Corp. Class A (LGN)?
The price-to-sales ratio of Legence Corp. Class A Common stock is 1.82 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Legence Corp. Class A (LGN)?
Earnings per share at Legence Corp. Class A Common stock are $−0.8100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Legence Corp. Class A (LGN)?
The net margin of Legence Corp. Class A Common stock is −1.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Legence Corp. Class A (LGN)?
The return on equity (ROE) of Legence Corp. Class A Common stock is −12.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Legence Corp. Class A (LGN)?
On an EBIT basis the return on assets of Legence Corp. Class A Common stock is 2.1% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Legence Corp. Class A (LGN)?
The operating margin of Legence Corp. Class A Common stock is 2.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Legence Corp. Class A (LGN)?
Revenue at Legence Corp. Class A Common stock is growing +111% versus a year earlier (3y avg +27.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Legence Corp. Class A (LGN) carry?
The net debt of Legence Corp. Class A Common stock is $724M (fiscal year 2025, ≈ 3.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 1, 2026