Limbach Holdings, Inc. (LMB)

Construction - Special Trade Contractors

Latest Price

$50.52

TTM P/E

20.29

Normalized P/E

25.80

Div Yield

Book Value

17.16

P/B Ratio

2.94

Valuation metrics

EPS: $3.23

Book value / share: $16.83

Formula: √(22.5 × EPS × BVPS)

Graham Number

$34.97

31% downside

Norm. op. income: $17M (median of 7yr)

Tax rate: 24%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$9.50

81% downside

Base FCF: $38M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$242.46

+380% upside

EPS: $3.23

Target P/E: 26×

Formula: EPS × P/E

P/E Fair Value

$83.98

+66% upside

80.3% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	979.4K	$75.0M	8.22%	+132.5K	2026-06-30
Thrivent Financial for Lutherans	864.2K	$66.0M	7.25%	-15.4K	2026-06-30
FMR LLC	735.5K	$56.0M	6.17%	+33.6K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	481.3K	$37.0M	4.04%	+18.6K	2026-06-30
ROYCE & ASSOCIATES LP	444.3K	$34.0M	3.73%	+63.6K	2026-06-30
WASATCH ADVISORS LP	380.9K	$29.0M	3.19%	-588.8K	2026-06-30
NEUMEIER POMA INVESTMENT COUNSEL LLC	324.0K	$24.0M	2.72%	+10.0K	2026-06-30
CastleKnight Management LP	320.5K	$24.0M	2.69%	--	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	298.0K	$22.0M	2.50%	+25.6K	2026-06-30
CORSAIR CAPITAL MANAGEMENT, L.P.	287.7K	$22.0M	2.41%	-23.7K	2026-06-30