Limbach Holdings (NasdaqCM:LMB) - Share price, News & Analysis

LMB fundamental analysis
Snowflake Score
Valuation	6/6
Future Growth	3/6
Past Performance	4/6
Financial Health	5/6
Dividends	0/6

LMB Stock Overview

Limbach Holdings, Inc. operates as an integrated building systems solutions company in the United States.

Rewards

Trading at 87.1% below our estimate of its fair value

Earnings are forecast to grow 46.05% per year

Earnings grew by 109.1% over the past year

Risk Analysis

High level of non-cash earnings

Does not have a meaningful market cap ($58M)

Limbach Holdings Competitors

Willdan Group

NasdaqGM:WLDN

US$350.5m

Price History & Performance

Summary of all time highs, changes and price drops for Limbach Holdings
Historical stock prices
Current Share Price	US$5.61
52 Week High	US$10.18
52 Week Low	US$5.49
Beta	1.22
1 Month Change	-10.67%
3 Month Change	-26.86%
1 Year Change	-41.20%
3 Year Change	-38.35%
5 Year Change	-53.75%
Change since IPO	-40.64%

Recent News & Updates

May 12

Is There Now An Opportunity In Limbach Holdings, Inc. (NASDAQ:LMB)?

While Limbach Holdings, Inc. ( NASDAQ:LMB ) might not be the most widely known stock at the moment, it received a lot...

Shareholder Returns

	LMB	US Construction	US Market
7D	-7.9%	4.2%	1.0%
1Y	-41.2%	-1.1%	-15.1%

Return vs Industry: LMB underperformed the US Construction industry which returned -1.1% over the past year.

Return vs Market: LMB underperformed the US Market which returned -15.1% over the past year.

Price Volatility

Is LMB's price volatile compared to industry and market?
LMB volatility
LMB Average Weekly Movement	8.8%
Construction Industry Average Movement	5.6%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: LMB is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: LMB's weekly volatility (9%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1901	1,650	Charlie Bacon	https://www.limbachinc.com

Limbach Holdings, Inc. operates as an integrated building systems solutions company in the United States. It operates in two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the design, prefabrication, installation, management, and maintenance of mechanical, electrical, plumbing, and control systems, as well as heating, ventilation, air-conditioning (HVAC) system.

Limbach Holdings Fundamentals Summary

How do Limbach Holdings's earnings and revenue compare to its market cap?
LMB fundamental statistics
Market Cap	US$58.47m
Earnings (TTM)	US$7.48m
Revenue (TTM)	US$491.83m

7.8x

P/E Ratio

0.1x

P/S Ratio

Is LMB overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
LMB income statement (TTM)
Revenue	US$491.83m
Cost of Revenue	US$404.81m
Gross Profit	US$87.02m
Other Expenses	US$79.54m
Earnings	US$7.48m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.72
Gross Margin	17.69%
Net Profit Margin	1.52%
Debt/Equity Ratio	48.5%

How did LMB perform over the long term?

See historical performance and comparison

Valuation

Is Limbach Holdings undervalued compared to its fair value and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: LMB ($5.61) is trading below our estimate of fair value ($43.37)

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

Price To Earnings Ratio

PE vs Industry: LMB is good value based on its Price-To-Earnings Ratio (7.8x) compared to the US Construction industry average (25.7x).

PE vs Market: LMB is good value based on its Price-To-Earnings Ratio (7.8x) compared to the US market (15.2x).

Price to Earnings Growth Ratio

PEG Ratio: LMB is good value based on its PEG Ratio (0.2x)

Price to Book Ratio

PB vs Industry: LMB is good value based on its Price-To-Book Ratio (0.7x) compared to the US Construction industry average (1.8x).

Future Growth

How is Limbach Holdings forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

46.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: LMB's forecast earnings growth (46% per year) is above the savings rate (1.9%).

Earnings vs Market: LMB's earnings (46% per year) are forecast to grow faster than the US market (13% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: LMB's revenue (6.2% per year) is forecast to grow slower than the US market (8% per year).

High Growth Revenue: LMB's revenue (6.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if LMB's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Limbach Holdings performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

61.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: LMB has a high level of non-cash earnings.

Growing Profit Margin: LMB's current net profit margins (1.5%) are higher than last year (0.7%).

Past Earnings Growth Analysis

Earnings Trend: LMB has become profitable over the past 5 years, growing earnings by 61.3% per year.

Accelerating Growth: LMB's earnings growth over the past year (109.1%) exceeds its 5-year average (61.3% per year).

Earnings vs Industry: LMB earnings growth over the past year (109.1%) exceeded the Construction industry 26.3%.

Return on Equity

High ROE: LMB's Return on Equity (8.6%) is considered low.

Financial Health

How is Limbach Holdings's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: LMB's short term assets ($210.0M) exceed its short term liabilities ($141.6M).

Long Term Liabilities: LMB's short term assets ($210.0M) exceed its long term liabilities ($52.5M).

Debt to Equity History and Analysis

Debt Level: LMB's net debt to equity ratio (27.7%) is considered satisfactory.

Reducing Debt: LMB's debt to equity ratio has reduced from 57.7% to 48.5% over the past 5 years.

Debt Coverage: LMB's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: LMB's interest payments on its debt are well covered by EBIT (7.4x coverage).

Balance Sheet

Dividend

What is Limbach Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate LMB's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate LMB's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if LMB's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if LMB's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as LMB has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure

CEO

Charlie Bacon (61 yo)

5.83yrs

Tenure

US$1,448,454

Compensation

Mr. Charles A. Bacon, III, also known as Charlie, has been the Chief Executive Officer and President of Limbach Holdings, Inc. since July 20, 2016. Mr. Bacon also serves as Chief Legal Officer and Secretar...

CEO Compensation Analysis

Compensation vs Market: Charlie's total compensation ($USD1.45M) is above average for companies of similar size in the US market ($USD771.12K).

Compensation vs Earnings: Charlie's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: LMB's management team is considered experienced (3.6 years average tenure).

Board Members

Experienced Board: LMB's board of directors are considered experienced (4.7 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: LMB insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/26 00:00
End of Day Share Price	2022/05/26 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31