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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
Limbach Holdings, Inc. is the larger business by last-quarter revenue ($138.9M vs $73.3M, roughly 1.9× Apollo Commercial Real Estate Finance, Inc.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs 3.2%, a 36.7% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (4.3% vs 4.0%). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (6.6% CAGR vs -4.6%).
Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that originates, acquires and manages commercial real estate debt assets including mortgages, mezzanine loans and mortgage-backed securities, primarily operating in the U.S. market to deliver consistent risk-adjusted returns.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
ARI vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $138.9M |
| Net Profit | $29.2M | $4.4M |
| Gross Margin | — | 22.4% |
| Operating Margin | 39.7% | 0.8% |
| Net Margin | 39.9% | 3.2% |
| Revenue YoY | 4.0% | 4.3% |
| Net Profit YoY | -28.2% | — |
| EPS (diluted) | $0.19 | $0.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $138.9M | ||
| Q4 25 | $73.3M | $186.9M | ||
| Q3 25 | $61.6M | $184.6M | ||
| Q2 25 | $70.9M | $142.2M | ||
| Q1 25 | $65.8M | $133.1M | ||
| Q4 24 | $70.5M | $143.7M | ||
| Q3 24 | $71.6M | $133.9M | ||
| Q2 24 | $81.1M | $122.2M |
| Q1 26 | — | $4.4M | ||
| Q4 25 | $29.2M | $12.3M | ||
| Q3 25 | $50.8M | $8.8M | ||
| Q2 25 | $20.7M | $7.8M | ||
| Q1 25 | $26.0M | $10.2M | ||
| Q4 24 | $40.7M | $9.8M | ||
| Q3 24 | $-91.5M | $7.5M | ||
| Q2 24 | $35.8M | $6.0M |
| Q1 26 | — | 22.4% | ||
| Q4 25 | — | 25.7% | ||
| Q3 25 | — | 24.2% | ||
| Q2 25 | — | 28.0% | ||
| Q1 25 | — | 27.6% | ||
| Q4 24 | — | 30.3% | ||
| Q3 24 | — | 27.0% | ||
| Q2 24 | — | 27.4% |
| Q1 26 | — | 0.8% | ||
| Q4 25 | 39.7% | 9.4% | ||
| Q3 25 | 82.8% | 7.2% | ||
| Q2 25 | 29.4% | 7.5% | ||
| Q1 25 | 39.7% | 5.9% | ||
| Q4 24 | 57.9% | 9.1% | ||
| Q3 24 | -127.8% | 8.1% | ||
| Q2 24 | 44.2% | 6.7% |
| Q1 26 | — | 3.2% | ||
| Q4 25 | 39.9% | 6.6% | ||
| Q3 25 | 82.4% | 4.8% | ||
| Q2 25 | 29.3% | 5.5% | ||
| Q1 25 | 39.5% | 7.7% | ||
| Q4 24 | 57.7% | 6.9% | ||
| Q3 24 | -127.9% | 5.6% | ||
| Q2 24 | 44.1% | 4.9% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | $0.19 | $1.01 | ||
| Q3 25 | $0.34 | $0.73 | ||
| Q2 25 | $0.12 | $0.64 | ||
| Q1 25 | $0.16 | $0.85 | ||
| Q4 24 | $0.25 | $0.81 | ||
| Q3 24 | $-0.69 | $0.62 | ||
| Q2 24 | $0.23 | $0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $139.8M | $15.8M |
| Total DebtLower is stronger | — | $56.6M |
| Stockholders' EquityBook value | $1.9B | $196.3M |
| Total Assets | $9.9B | $377.0M |
| Debt / EquityLower = less leverage | — | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $15.8M | ||
| Q4 25 | $139.8M | $11.3M | ||
| Q3 25 | $245.9M | $9.8M | ||
| Q2 25 | $177.6M | $38.9M | ||
| Q1 25 | $166.4M | $38.1M | ||
| Q4 24 | $317.4M | $44.9M | ||
| Q3 24 | $194.3M | $51.2M | ||
| Q2 24 | $174.7M | $59.5M |
| Q1 26 | — | $56.6M | ||
| Q4 25 | — | $30.5M | ||
| Q3 25 | — | $56.3M | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.7M |
| Q1 26 | — | $196.3M | ||
| Q4 25 | $1.9B | $195.7M | ||
| Q3 25 | $1.9B | $181.6M | ||
| Q2 25 | $1.8B | $170.5M | ||
| Q1 25 | $1.9B | $161.1M | ||
| Q4 24 | $1.9B | $153.5M | ||
| Q3 24 | $1.9B | $142.2M | ||
| Q2 24 | $2.0B | $133.0M |
| Q1 26 | — | $377.0M | ||
| Q4 25 | $9.9B | $381.1M | ||
| Q3 25 | $9.5B | $409.1M | ||
| Q2 25 | $9.8B | $343.0M | ||
| Q1 25 | $8.8B | $336.4M | ||
| Q4 24 | $8.4B | $352.1M | ||
| Q3 24 | $9.1B | $324.4M | ||
| Q2 24 | $9.3B | $303.9M |
| Q1 26 | — | 0.29× | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $142.5M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $142.5M | $28.1M | ||
| Q3 25 | $31.7M | $13.3M | ||
| Q2 25 | $63.2M | $2.0M | ||
| Q1 25 | $39.3M | $2.2M | ||
| Q4 24 | $200.3M | $19.3M | ||
| Q3 24 | $47.2M | $4.9M | ||
| Q2 24 | $50.2M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $27.9M | ||
| Q3 25 | — | $12.8M | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $11.0K | ||
| Q4 24 | — | $18.0M | ||
| Q3 24 | — | $4.6M | ||
| Q2 24 | — | $13.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.9% | ||
| Q3 25 | — | 7.0% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | — | 10.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | 4.88× | 2.29× | ||
| Q3 25 | 0.62× | 1.52× | ||
| Q2 25 | 3.05× | 0.26× | ||
| Q1 25 | 1.51× | 0.22× | ||
| Q4 24 | 4.93× | 1.96× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | 1.40× | 2.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARI
Segment breakdown not available.
LMB
| ODR | $99.8M | 72% |
| GCR | $39.0M | 28% |
