NasdaqCM:LMB

Stock Analysis Report

Executive Summary

Limbach Holdings, Inc. provides commercial specialty contract services in the United States.


Snowflake Analysis

Moderate growth potential and slightly overvalued.

Share Price & News

How has Limbach Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: LMB's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.0%

LMB

-0.1%

US Construction

-2.6%

US Market


1 Year Return

-61.9%

LMB

-24.0%

US Construction

-13.3%

US Market

Return vs Industry: LMB underperformed the US Construction industry which returned -23.1% over the past year.

Return vs Market: LMB underperformed the US Market which returned -13.6% over the past year.


Shareholder returns

LMBIndustryMarket
7 Day-2.0%-0.1%-2.6%
30 Day-25.1%-21.1%-15.2%
90 Day-24.3%-28.7%-22.2%
1 Year-61.9%-61.9%-23.3%-24.0%-11.5%-13.3%
3 Year-78.3%-78.3%-23.6%-25.3%13.2%5.7%
5 Year-69.6%-69.6%-6.2%-9.7%31.8%17.2%

Price Volatility Vs. Market

How volatile is Limbach Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

37.05x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: LMB ($2.98) is trading above our estimate of fair value ($0.17)

Significantly Below Fair Value: LMB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: LMB is poor value based on its PE Ratio (37.7x) compared to the Construction industry average (11.5x).

PE vs Market: LMB is poor value based on its PE Ratio (37.7x) compared to the US market (12.9x).


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 PB Ratio (0.5x) compared to the US Construction industry average (1.3x).


Next Steps

Future Growth

How is Limbach Holdings forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

209.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LMB's forecast earnings growth (209.3% per year) is above the savings rate (1.7%).

Earnings vs Market: LMB's earnings (209.3% per year) are forecast to grow faster than the US market (12.3% per year).

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

Revenue vs Market: LMB's revenue (5.2% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: LMB's revenue (5.2% 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


Next Steps

Past Performance

How has Limbach Holdings performed over the past 5 years?

-36.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LMB has a large one-off loss of $5.6M impacting its September 30 2019 financial results.

Growing Profit Margin: LMB became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: LMB has become profitable over the past 5 years, growing earnings by -36.6% per year.

Accelerating Growth: LMB has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: LMB has become profitable in the last year, making it difficult to compare its past year earnings growth to the Construction industry (23.5%).


Return on Equity

High ROE: LMB's Return on Equity (1.3%) is considered low.


Next Steps

Financial Health

How is Limbach Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: LMB's short term assets ($195.2M) exceed its short term liabilities ($154.8M).

Long Term Liabilities: LMB's short term assets ($195.2M) exceed its long term liabilities ($41.5M).


Debt to Equity History and Analysis

Debt Level: LMB's debt to equity ratio (95.9%) is considered high.

Reducing Debt: Insufficient data to determine if LMB's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: LMB's debt is not well covered by operating cash flow (12.8%).

Interest Coverage: LMB's interest payments on its debt are not well covered by EBIT (2x coverage).


Balance Sheet


Next Steps

Dividend

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


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 payouts.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of LMB's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

2.6yrs

Average management tenure


CEO

Charlie Bacon (59yo)

3.75s

Tenure

US$854,425

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 serves as Chief Executive Officer and President ...


CEO Compensation Analysis

Compensation vs Market: Charlie's total compensation ($USD854.43K) is above average for companies of similar size in the US market ($USD605.16K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Charles Bacon
President3.75yrsUS$854.43k5.02% $1.2m
Jayme Brooks
Executive VP & CFO0.50yrno data0.065% $15.1k
Michael McCann
Chief Operating Officer0.42yrno data0.15% $35.3k
Scott Wright
General Counsel14.25yrsno datano data
Cristine Leifheit
Vice President of People & Culture2.58yrsno datano data
Samuel Katz
Executive Vice President of M&A and Capital Markets2.58yrsUS$53.28kno data
David Leathers
Executive Vice President of Serviceno datano datano data
Marc Hoogstraten
Chief Learning Officer & Senior VP4.25yrsno datano data
Timothy Ward
President of Limbach Engineering & Design Servicesno datano datano data
Jeremy Hellman
Senior Associateno datano datano data

2.6yrs

Average Tenure

46yo

Average Age

Experienced Management: LMB's management team is considered experienced (2.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Charles Bacon
President3.75yrsUS$854.43k5.02% $1.2m
Norbert Young
Independent Director3.75yrsUS$109.41k0.22% $52.1k
Gordon Pratt
Independent Chairman of the Board3.75yrsUS$126.32k1.5% $346.6k
Joshua Horowitz
Director5.75yrsno datano data
Larry Swets
Independent Director6yrsUS$119.58k0.21% $49.4k
Michael McNally
Independent Director2.58yrsUS$116.51k0.51% $117.7k
Laurel Krzeminski
Independent Director1.83yrsUS$74.56k0.042% $9.6k

3.8yrs

Average Tenure

59yo

Average Age

Experienced Board: LMB's board of directors are considered experienced (3.8 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.


Top Shareholders

Company Information

Limbach Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Limbach Holdings, Inc.
  • Ticker: LMB
  • Exchange: NasdaqCM
  • Founded: 1901
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: US$23.144m
  • Shares outstanding: 7.69m
  • Website: https://www.limbachinc.com

Number of Employees


Location

  • Limbach Holdings, Inc.
  • 1251 Waterfront Place
  • Suite 201
  • Pittsburgh
  • Pennsylvania
  • 15222
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TFSC.UNasdaqCM (Nasdaq Capital Market)Old UnitsUSUSDJul 2014
LMBNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDAug 2014

Biography

Limbach Holdings, Inc. provides commercial specialty contract services in the United States. It operates in two segments, Construction and Service. The company provides services in the areas of heating, ventilation, air-conditioning (HVAC), plumbing, electrical, and building controls for the design and construction of new and renovated buildings; maintenance services; and equipment upgrades. Its facility services comprise mechanical construction, HVAC service and maintenance, energy audits and retrofits, engineering and design build, constructability evaluation, equipment and materials selection, offsite/prefab construction, and sustainable building solutions and practices. The company’s customers include healthcare facilities; colleges, universities, research centers, and K-12 public and private facilities; casinos and amusement ride facilities, as well as sports arenas and related facilities; passenger terminals and maintenance facilities for rail and airports; government facilities comprising federal, state, and local agencies; hotels and resorts; corporate and commercial office buildings; residential multifamily apartment buildings; mission critical facilities, including data centers; and industrial manufacturing facilities. It serves customers primarily located in Florida, California, Massachusetts, New Jersey, Pennsylvania, Delaware, Maryland, Washington DC, Virginia, West Virginia, Ohio, and Michigan. Limbach Holdings, Inc. was founded in 1901 and is headquartered in Pittsburgh, Pennsylvania. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 05:42
End of Day Share Price2020/04/06 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.