Limbach (LMB) financial statements
Limbach reported revenue of $647M in fiscal 2025, up 3.6% a year over 8 years.
Net income was $39M.
Free cash flow was $42M.
The diluted share count rose 554% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Limbach's 10-K filings with the SEC.
| Fiscal year | 2015 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $486M | $547M | $553M | $568M | $490M | $497M | $516M | $519M | $647M |
| Cost of revenue | — | $420M | $487M | $481M | $487M | $404M | $403M | $397M | $374M | $477M |
| Gross profit | — | $66M | $59M | $72M | $81M | $86M | $94M | $119M | $144M | $169M |
| Selling, general and admin | $390,974 | $56M | $57M | $63M | $64M | $71M | $78M | $87M | $97M | $110M |
| Operating income | -$390,974 | $6M | $1M | $8M | $17M | $14M | $12M | $29M | $39M | $49M |
| Interest expense | — | $0 | — | — | — | — | $2M | $2M | $2M | $3M |
| Pre-tax income | — | $4M | -$2M | -$2M | $7M | $9M | $10M | $28M | $40M | $49M |
| Income tax | — | $3M | -$635,000 | -$282,000 | $1M | $3M | $3M | $7M | $9M | $10M |
| Net income | -$339,604 | $712,000 | -$2M | -$2M | $6M | $7M | $7M | $21M | $31M | $39M |
| EPS (diluted) | -$0.18 | -$0.13 | -$0.52 | -$0.23 | $0.72 | $0.66 | $0.64 | $1.76 | $2.57 | $3.23 |
| Diluted shares | 2M | 7M | 8M | 8M | 8M | 10M | 11M | 12M | 12M | 12M |
| Gross margin | — | 13.5% | 10.9% | 13.0% | 14.3% | 17.5% | 18.9% | 23.1% | 27.8% | 26.2% |
| Operating margin | — | 1.2% | 0.2% | 1.5% | 3.0% | 2.9% | 2.4% | 5.7% | 7.4% | 7.6% |
| Net margin | — | 0.1% | -0.3% | -0.3% | 1.0% | 1.4% | 1.4% | 4.0% | 6.0% | 6.0% |
Balance sheet
Fiscal years, from Limbach's 10-K filings with the SEC.
| Fiscal year | 2015 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $119,826 | $626,000 | $2M | $8M | $42M | $14M | $36M | $60M | $45M | $11M |
| Receivables | — | $129M | $136M | $105M | $86M | $89M | $124M | $98M | $120M | $133M |
| Total current assets | $139,322 | $166M | $205M | $195M | $199M | $193M | $226M | $217M | $220M | $195M |
| Property, plant and equipment | — | $18M | $21M | — | $20M | $22M | $18M | $21M | $30M | $43M |
| Goodwill | — | $10M | $10M | $6M | $6M | $11M | $11M | $16M | $33M | $71M |
| Total assets | $46M | $213M | $254M | $262M | $262M | $268M | $295M | $304M | $352M | $381M |
| Total current liabilities | — | $135M | $182M | $157M | $150M | $130M | $159M | $145M | $151M | $135M |
| Long-term debt | — | $21M | $24M | $39M | $37M | $30M | $22M | $20M | $24M | $31M |
| Total liabilities | $255,283 | $157M | $207M | $215M | $208M | $180M | $199M | $184M | $199M | $185M |
| Shareholders' equity | $5M | $48M | $46M | $47M | $54M | $88M | $95M | $121M | $153M | $196M |
| Net debt | -$119,826 | $26M | $25M | $35M | $902,000 | $25M | -$5M | -$38M | -$18M | $24M |
Cash flow
Fiscal years, from Limbach's 10-K filings with the SEC.
| Fiscal year | 2015 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$226,192 | -$4M | $25M | -$926,000 | $40M | -$24M | $35M | $57M | $37M | $46M |
| Capital spending | — | $3M | $4M | $3M | $1M | $791,000 | $993,000 | $2M | $8M | $4M |
| Free cash flow | — | -$7M | $21M | -$4M | $38M | -$25M | $34M | $55M | $29M | $42M |
| Stock-based compensation | — | $2M | $2M | $2M | $1M | $3M | $3M | $5M | $6M | $7M |
| Share buybacks (net) | — | — | — | — | — | $0 | -$2M | $0 | $0 | — |
| Net borrowing | — | $0 | $8M | — | — | — | — | — | — | — |
| Free cash flow margin | — | -1.5% | 3.9% | -0.6% | 6.7% | -5.1% | 6.9% | 10.7% | 5.6% | 6.5% |
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Open LMB in InvestinglyQuestions
What was Limbach's revenue in 2025?
$647M in fiscal 2025, from its 10-K filing.
How much free cash flow does Limbach generate?
$42M in fiscal 2025 (operating cash flow minus capital spending).
From Limbach's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.