Limbach Holdings vs Matrix Service
Matrix Service is the larger business, with $874m of revenue in fiscal 2026 against $647m for Limbach Holdings (1.4 times as much). Limbach Holdings grew faster (24.7% against 13.6%). Limbach Holdings kept more of each dollar of sales as profit: a net margin of 6.0% against -0.3%.
| Latest fiscal year | Limbach HoldingsLMB, 2025 | Matrix ServiceMTRX, 2026 |
|---|---|---|
| Revenue | $647m | $874m |
| Revenue growth | 24.7% | 13.6% |
| Net income | $39.1m | −$2.6m |
| Operating margin | — | -1.1% |
| Net margin | 6.0% | -0.3% |
| Return on equity | 22.4% | -1.8% |
| Free cash flow | $41.9m | $1.4m |
| Cash | $11.3m | $223m |
| Total debt | $35.6m | $65 |
| Debt to equity | — | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 2,370 |
| Market value | $594m | $263m |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 42 (Weak) | 39 (Weak) |
| Insider trades, 12 months | 7 buys, 23 sales | 0 buys, 11 sales |