Limbach Holdings, Inc.

DB:J4B Stock Report

Market Cap: €1.1b

Limbach Holdings Valuation

Is J4B undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of J4B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: J4B (€93.25) is trading below our estimate of fair value (€147.95)

Significantly Below Fair Value: J4B is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for J4B?

Key metric: As J4B is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for J4B. This is calculated by dividing J4B's market cap by their current earnings.
What is J4B's PE Ratio?
PE Ratio44x
EarningsUS$26.28m
Market CapUS$1.16b

Price to Earnings Ratio vs Peers

How does J4B's PE Ratio compare to its peers?

The above table shows the PE ratio for J4B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average58.2x
NCH2 thyssenkrupp nucera KGaA
183.5x55.9%€1.0b
B5A0 BAUER
29.9x38.2%€163.5m
HOT HOCHTIEF
12.2x2.5%€8.8b
KSB KSB SE KGaA
7.3x7.7%€1.1b
J4B Limbach Holdings
44x18.5%€1.2b

Price-To-Earnings vs Peers: J4B is good value based on its Price-To-Earnings Ratio (44x) compared to the peer average (58.2x).

Price to Earnings Ratio vs Industry

How does J4B's PE Ratio compare vs other companies in the European Construction Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
J4B 44.0xIndustry Avg. 13.0xNo. of Companies16PE0816243240+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: J4B is expensive based on its Price-To-Earnings Ratio (44x) compared to the European Construction industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is J4B's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

J4B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio44x
Fair PE Ratio18.6x

Price-To-Earnings vs Fair Ratio: J4B is expensive based on its Price-To-Earnings Ratio (44x) compared to the estimated Fair Price-To-Earnings Ratio (18.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst J4B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€93.25
€98.61
+5.7%
3.2%€102.73€95.12n/a3
Nov ’25€71.00
€66.57
-6.2%
8.8%€72.46€60.68n/a2
Oct ’25€66.95
€66.57
-0.6%
8.8%€72.46€60.68n/a2
Sep ’25€57.30
€67.32
+17.5%
8.8%€73.27€61.37n/a2
Aug ’25€58.10
€53.84
-7.3%
3.4%€55.69€51.98n/a2
Jul ’25€52.05
€53.84
+3.4%
3.4%€55.69€51.98n/a2
Jun ’25€53.15
€53.84
+1.3%
3.4%€55.69€51.98n/a2
May ’25€42.18
€50.52
+19.8%
9.1%€55.11€45.93n/a2
Apr ’25€37.40
€50.52
+35.1%
9.1%€55.11€45.93n/a2
Mar ’25€44.80
€39.31
-12.3%
2.4%€40.24€38.37n/a2
Feb ’25€39.20
€39.31
+0.3%
2.4%€40.24€38.37n/a2
Jan ’25€40.80
€39.31
-3.7%
2.4%€40.24€38.37n/a2
Dec ’24€34.60
€39.31
+13.6%
2.4%€40.24€38.37n/a2
Nov ’24€27.80
€35.79
+28.8%
7.7%€38.55€33.04€71.002
Oct ’24€29.80
€35.79
+20.1%
7.7%€38.55€33.04€66.952
Sep ’24€32.80
€35.79
+9.1%
7.7%€38.55€33.04€57.302
Aug ’24€23.80
€23.26
-2.3%
5.9%€24.63€21.89€58.102
Jul ’24€22.00
€23.26
+5.7%
5.9%€24.63€21.89€52.052
Jun ’24€19.10
€22.16
+16.0%
8.4%€24.59€20.04€53.153
May ’24€14.60
€19.11
+30.9%
16.2%€23.50€16.92€42.183
Apr ’24€15.30
€19.11
+24.9%
16.2%€23.50€16.92€37.403
Mar ’24€13.10
€15.93
+21.6%
24.4%€21.24€12.07€44.803
Feb ’24€11.60
€15.93
+37.3%
24.4%€21.24€12.07€39.203
Jan ’24€10.20
€15.93
+56.2%
24.4%€21.24€12.07€40.803
Dec ’23€11.70
€15.93
+36.1%
24.4%€21.24€12.07€34.603
Nov ’23€8.25
€16.54
+100.5%
24.4%€22.06€12.53€27.803

Analyst Forecast: Target price is less than 20% higher than the current share price.

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