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Limbach Holdings Income Statement 2025-2011 | LMB
Brief overview of financial performance at Limbach Holdings
The conclusions below are based on five years of reported results. Revenue at Limbach Holdings moved from $568 million in 2020 to $647 million in 2025. Overall revenue changed by +13.8%, equal to an annualized rate of about 2.6%. Sales changed only slightly and remained broadly flat.
At the gross-profit level, the result moved from 81.4 million dollars to 169 million dollars, a change of +108%. Cost of revenue developed more favorably than sales, supporting gross profitability. Gross margin moved from 14.3% to 26.2%. The margin shift points to a more favorable sales-and-cost structure.
The operating result measured by EBITDA moved from 17.8 million dollars to 67.6 million dollars, or +280%. Operating profitability strengthened faster than the scale of sales. EBITDA margin moved from 3.1% to 10.4%. The increased EBITDA share is a positive sign.
Net profit was $5.8 million at the start and $39.1 million at the end. The latest figure was the best within the selected horizon.
Market value was 114 million dollars at the start and 1 billion dollars at the end. A large part of future progress may already be reflected in the valuation.
Conclusion
The five-year picture requires weighing both strengths and weaknesses. Key strengths include an improving EBITDA margin, improving gross profitability and net-income growth. The weaker side of the profile includes weak sales momentum. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement Limbach Holdings
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
1.03 B | 1 B | 536 M | 141 M | 84.6 M | 114 M | 30.6 M | 42.7 M | 106 M | 102 M | 18.5 M | 17.6 M | - | - | - |
Shares |
11.6 M | 11.2 M | 10.8 M | 10.4 M | 10 M | 7.85 M | 7.66 M | 7.56 M | 7.47 M | 7.47 M | 1.85 M | 1.85 M | - | - | - |
Historical Prices |
89.1 | 89.1 | 49.8 | 13.6 | 8.45 | 14.5 | 4 | 5.65 | 14 | 13.8 | 10 | 9.53 | - | - | - |
Net Income |
39.1 M | 30.9 M | 20.8 M | 6.8 M | 6.71 M | 5.81 M | -1.78 M | -1.84 M | 712 K | - | -326 K | - | - | - | - |
Revenue |
647 M | 519 M | 516 M | 497 M | 490 M | 568 M | 553 M | 547 M | 486 M | - | - | - | - | - | - |
Cost of Revenue |
477 M | 374 M | 397 M | 403 M | 404 M | 487 M | 481 M | 487 M | 420 M | - | - | - | - | - | - |
Gross Profit |
169 M | 144 M | 119 M | 93.7 M | 85.9 M | 81.4 M | 71.9 M | 59.4 M | 65.6 M | - | - | - | - | - | - |
Operating Income |
49.5 M | 38.6 M | 29.3 M | 12 M | 14 M | 17.2 M | 8.07 M | 1.07 M | 6.02 M | - | -391 K | - | - | - | - |
Interest Expense |
-825 K | 1.34 M | 2.05 M | 2.14 M | -2.57 M | -8.63 M | -6.28 M | -3.3 M | -2.03 M | - | - | - | - | - | - |
EBITDA |
67.6 M | 50.5 M | 37.5 M | 20.2 M | 19.9 M | 17.8 M | 8.71 M | 2.34 M | 9.6 M | - | -341 K | - | - | - | - |
Operating Expenses |
120 M | 106 M | 90 M | 81.7 M | 71.9 M | 64.2 M | 63.8 M | 58.4 M | 59.6 M | 443 M | - | - | - | - | - |
General and Administrative Expenses |
110 M | 97.2 M | 87.4 M | 77.9 M | 71.4 M | 63.6 M | 63.2 M | 57.1 M | - | - | 340 K | - | - | - | - |
All numbers in USD currency
Quarterly Income Statement Limbach Holdings
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
11.9 M | 11.8 M | 11.6 M | 11.6 M | 11.6 M | 11.4 M | 11.3 M | 11.3 M | 11.3 M | 11.2 M | 11 M | 11 M | 10.6 M | 10.5 M | 10.3 M | 10.4 M | 10.4 M | 10.4 M | 10.3 M | 10.3 M | 10.3 M | 9.22 M | 7.93 M | 7.89 M | 7.85 M | 7.8 M | 7.69 M | 7.67 M | 7.64 M | 7.64 M | 7.59 M | 7.57 M | 7.54 M | 7.54 M | 7.5 M | 7.47 M | 7.45 M | 7.45 M | 7.45 M | 5.93 M | 1.89 M | 1.85 M | 1.85 M | 1.85 M | 1.85 M | 1.85 M | 1.85 M | 1.7 M | 1.15 M | 1.85 M | - | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
4.75 M | 4.38 M | - | 8.79 M | 7.76 M | 10.2 M | - | 7.48 M | 5.96 M | 7.59 M | - | 7.19 M | 5.32 M | 2.99 M | - | 3.64 M | 866 K | -1.52 M | - | 3.99 M | 732 K | -2.28 M | - | 2.52 M | 2.95 M | -52 K | - | -2.98 M | -1.29 M | 1.85 M | - | -3.5 M | 709 K | -2.42 M | - | 128 K | 669 K | -1.21 M | - | 1.81 M | -559 K | -385 K | - | -192 K | -71.3 K | -340 K | - | -82.5 K | -642 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Revenue |
173 M | 139 M | - | 185 M | 142 M | 133 M | - | 134 M | 122 M | 119 M | - | 128 M | 125 M | 121 M | - | 122 M | 116 M | 115 M | - | 129 M | 121 M | 113 M | - | 164 M | 135 M | 139 M | - | 148 M | 133 M | 134 M | - | 135 M | 140 M | 121 M | - | 121 M | 118 M | 115 M | - | 91.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
136 M | 108 M | - | 140 M | 102 M | 96.4 M | - | 97.8 M | 88.7 M | 87.9 M | - | 96.5 M | 96.4 M | 94.8 M | - | 97.5 M | 94.8 M | 96.5 M | - | 105 M | 102 M | 96.1 M | - | 140 M | 115 M | 121 M | - | 130 M | 115 M | 114 M | - | 124 M | 124 M | 107 M | - | 106 M | 102 M | 101 M | - | 79.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
37.3 M | 31.2 M | - | 44.7 M | 39.8 M | 36.7 M | - | 36.1 M | 33.5 M | 31.1 M | - | 31.2 M | 28.5 M | 26.2 M | - | 24.9 M | 21.3 M | 18.3 M | - | 24.5 M | 18.7 M | 17.2 M | - | 24.2 M | 20.3 M | 18.2 M | - | 18.4 M | 17.7 M | 19.6 M | - | 10.7 M | 15.8 M | 13.3 M | - | 15.4 M | 15.5 M | 13.8 M | - | 12.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
7.25 M | 1.13 M | - | 13.3 M | 10.6 M | 7.91 M | - | 10.9 M | 8.19 M | 6.53 M | - | 9.83 M | 7.55 M | 4.65 M | - | 5.39 M | 1.47 M | -793 K | - | 6.07 M | 1.35 M | -20 K | - | 7.02 M | 6.31 M | 1.28 M | - | 1.66 M | 441 K | 3.4 M | - | -2.94 M | 1.78 M | -2.71 M | - | 994 K | 1.74 M | -1.81 M | - | 410 K | -603 K | -430 K | - | 2.31 M | -78.3 K | -142 K | - | -85.7 K | -642 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Interest Expense |
-669 K | -410 K | - | -790 K | 122 K | 80 K | - | -10 K | 168 K | 727 K | - | 124 K | -207 K | -667 K | - | -547 K | -478 K | -486 K | - | -424 K | -452 K | -1.26 M | - | -2.15 M | -2.14 M | -2.16 M | - | -1.76 M | -1.6 M | -833 K | - | -787 K | -799 K | -769 K | - | -545 K | -563 K | -454 K | - | -853 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
16 M | 5.55 M | - | 15.7 M | 12.4 M | 12 M | - | 11.8 M | 9.22 M | 9.24 M | - | 10.1 M | 7.94 M | 6.58 M | - | 5.78 M | 1.86 M | 1.27 M | - | 7.46 M | 2.82 M | 1.48 M | - | 8.51 M | 7.94 M | 2.79 M | - | 3.02 M | 1.9 M | 4.82 M | - | -1.52 M | 3.2 M | -1.34 M | - | 3.02 M | 4.45 M | 840 K | - | 3.2 M | -603 K | -430 K | - | 2.31 M | -78.3 K | -142 K | - | -85.7 K | -642 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Expenses |
30 M | 30 M | - | 31.3 M | 29.2 M | 28.8 M | - | 25.2 M | 25.3 M | 24.6 M | - | 21.4 M | 21 M | 21.6 M | - | 19.5 M | 19.9 M | 19.1 M | - | 18.4 M | 17.3 M | 17.2 M | - | 17.2 M | 14 M | 16.9 M | - | 16.7 M | 17.3 M | 16.2 M | - | 13.6 M | 14 M | 16 M | - | 14.4 M | 13.8 M | 15.6 M | - | 11.7 M | - | - | - | - | - | - | - | - | 565 | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
28.1 M | 28.1 M | - | 28.3 M | 26.6 M | 26.5 M | - | 23.7 M | 23.2 M | 22.9 M | - | 21 M | 20.4 M | 21 M | - | 18.7 M | 18.7 M | 18.7 M | - | 18.3 M | 17.2 M | 17.1 M | - | 17 M | 13.8 M | 16.8 M | - | 16.6 M | 17.1 M | 16 M | - | 13.3 M | 13.7 M | 15.7 M | - | 13.6 M | 12.8 M | 14.6 M | - | 10.2 M | 603 K | 430 K | - | 207 K | 78.3 K | 142 K | - | 85.7 K | 77 | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Limbach Holdings (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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