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Limbach Holdings (LMB) Fair Value & Analysis

Industrials · US · Market cap $955M

LH Limbach Holdings logo Limbach Holdings LMB · US
Price$48.70
Fair Value$50.86
Upside+4.4%
Quality64/100
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Mixed Growth
Thin margins · 5.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Moderate moat 52/100
Evidence: High Range $34.52 – $86.68 Share as image

Fair value as of: Jul 19, 2026

From 25 valuation models · updated 22 days ago

Share price −36.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range ($34.52 to $86.68) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$149.53 $5.09 Fair Value $50.86 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range $5.09 – $149.53 · fair‑value band $34.52 – $86.68 · the $48.70 price screens below the $50.86 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Limbach Holdings (LMB) currently trades at $48.70, while our model-based Fair Value estimate is $50.86, implying the stock looks roughly 4.4% fairly valued today. The Quality Score stands at 64/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Limbach Holdings generated revenue of $653M at a net margin of 5.1%. Revenue grew 4.3% year over year. It earns a return on equity of 18.6%. Net debt stands at $44.5M. Fundamentals as of Jul 19, 2026

Our scenario range runs from $34.52 (bear case) to $86.68 (bull case); at $48.70, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 68% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at 4%, LMB screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $32.14 $42.63 $55.22 80
Residual Income $24.27 $35.89 $225.49 76
Rev-Margin DCF $33.95 $52.06 $71.81 74
All 25 models by family
DCF Models
FCF DCF $31.68 $43.35 $58.07 38
Owner Earnings $47.53 $65.08 $87.19 31
5Y Revenue Exit $33.95 $51.75 $73.80 39
5Y EBITDA Exit $41.58 $65.48 $92.40 41
5Y P/E Exit $46.20 $73.78 $101.60 38
10Y Revenue Exit $31.73 $46.56 $65.12 36
10Y EBITDA Exit $37.04 $55.08 $77.63 37
10Y P/E Exit $39.69 $60.23 $83.81 35
Earnings-Based
Graham-Dodd $27.74 $70.12 $91.11 54
PEG = 1.0 $12.96 $18.52 $24.08 46
EPV $27.23 $30.92 $34.00 59
Dividend Discount
Gordon GGM $0.2000 $0.3400 $0.4900 70
DDM Multi-Stage $0.2000 $0.2900 $0.3700 61
Multiples
P/E Multiple $64.25 $85.66 $107.08 63
P/S Multiple $52.01 $69.35 $86.68 58
P/B Multiple $52.01 $69.35 $86.68 55
EV/EBIT $53.04 $70.67 $88.30 53
EV/EBITDA $55.42 $73.85 $92.27 54
EV/Revenue $37.89 $54.07 $70.25 43
Asset-Based
NCAV (Graham) $8.21 $11.00 $16.41 50
Growth DCF
Growth DCF $32.14 $42.63 $55.22 80
Rev-Margin DCF $33.95 $52.06 $71.81 74
Economic Profit
Residual Income $24.27 $35.89 $225.49 76
ROIC Compounder $28.26 $33.59 $39.12 72
Growth Earnings
Growth-Adj P/E $49.68 $70.97 $92.26 68

Widest divergence: Growth Earnings ($70.97) versus Dividend Discount ($0.2900). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $653M
Revenue growth (YoY) +4.3%
Net margin 5.1%
Return on equity 18.6%
Free cash flow $41.9M FY2025
P/E ratio 29.3
More key figures
Operating margin 0.9%
EPS (TTM) $2.74
EPS growth (YoY) -57.6%
Net debt $44.5M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 65 · Market factors (momentum, volatility) 5

Profitability 76
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 15
Calm price path (market factor)
Momentum 1
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 56
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Limbach Holdings, Inc. operates as a building systems solution company in the United States. The company operates through two segments, Owner Direct Relationships and General Contractor Relationships. It engages in the construction or renovation projects that involve primarily include mechanical, electrical, plumbing, and controls services (MEPC).

Full company description

Limbach Holdings, Inc. operates as a building systems solution company in the United States. The company operates through two segments, Owner Direct Relationships and General Contractor Relationships. It engages in the construction or renovation projects that involve primarily include mechanical, electrical, plumbing, and controls services (MEPC). It also provides professional and consultative services; inspection, troubleshooting, repair, and services; system and/or facility assessments; turnkey rental equipment solutions; MEPC infrastructure solutions; and customized solutions. The company serves research, acute care, and inpatient hospitals; public and private colleges, universities, research centers; entertainment facilities, and amusement rides and parks; data centers; automotive, energy and general manufacturing plants; and life sciences, including organizations and companies, whose work is centered around research and development focused on living things. Limbach Holdings, Inc. was founded in 1901 and is headquartered in Tampa, Florida.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Limbach Holdings reported revenue of $647M in FY2025 versus $490M in FY2021, a compound +7.2%/yr. Reported net income was $48.6M in FY2025, compounding +64.1%/yr from FY2021.

Growth Quality 54/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$647M
Latest YoY
+24.7%
Avg. growth/yr (3Y)
+9.2%
Avg. growth/yr (5Y)
+2.6%
Avg. growth/yr (10Y)
+6.9%
Revenue +7.2%/yr
FY21 $490M
FY22 $497M
FY23 $516M
FY24 $519M
FY25 $647M
Net income +64.1%/yr
FY21 $6.7M
FY22 $6.8M
FY23 $20.8M
FY24 $30.9M
FY25 $48.6M

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Cite: Fair Value Calculator (2026). "Limbach Holdings Fair Value". https://www.fairvalue-calculator.com/stock/LMB

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Building Products & Equipment · 247 stocks

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.

Quality Score 64 · Top 25%
Fair Value upside +4% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth 4% · Above median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/E (TTM) 29.3× · Pricier than median
P/B 4.88× · Pricier than 75% of peers
P/S (TTM) 1.46× · Pricier than median
P/FCF 22.8× · Pricier than 75% of peers
EV/EBITDA 15.2× · Pricier than median
PEG 2.29× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 39 · sector 4
FUTURE 22 · sector 9
PAST 74 · sector 23
HEALTH 98 · sector 94
DIVIDEND 0 · sector 28

Insider activity: 44/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $469.98 $212.34 -55%
Johnson Controls International plc JCI $142.81 $45.65 -68%
Carrier Global Corporation CARR $68.61 $17.35 -75%
Compagnie de Saint-Gobain S.A SGO €76.62 €101.60 +33%
Geberit AG GEBN CHF 523.20 CHF 307.66 -41%
Lennox International Inc LII $543.93 $363.09 -33%
Kingspan Group KRX €87.30 €70.76 -19%
Masco Corporation MAS $78.04 $54.36 -30%
PT Impack Pratama Industri Tbk, IMPC 1,420 IDR 179.76 IDR -87%
NIBE Industrier AB NIBEB kr 36.03 kr 25.37 -30%

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Frequently asked questions

Is Limbach Holdings (LMB) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of $50.86 versus a price of $48.70, about +4% (fairly valued).
What is the fair value of LMB?
Our model-based fair value for Limbach Holdings is $50.86 (as of Jul 19, 2026), built from audited fundamentals. The current price is $48.70.
What is the quality score of LMB?
Limbach Holdings has a Quality Score of 64/100. 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 revenue of Limbach Holdings (LMB)?
Limbach Holdings reported trailing-twelve-month revenue of about $653M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of LMB?
The net profit margin of Limbach Holdings is about 5.1%, meaning it keeps roughly 5.1% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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