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Side-by-side financial comparison of BRANDYWINE REALTY TRUST (BDN) 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 ($186.9M vs $127.0M, roughly 1.5× BRANDYWINE REALTY TRUST). Limbach Holdings, Inc. runs the higher net margin — 6.6% vs -38.4%, a 45.0% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 4.5%). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs 0.7%).
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
BDN vs LMB — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.0M | $186.9M |
| Net Profit | $-48.8M | $12.3M |
| Gross Margin | — | 25.7% |
| Operating Margin | 1.2% | 9.4% |
| Net Margin | -38.4% | 6.6% |
| Revenue YoY | 4.5% | 30.1% |
| Net Profit YoY | -80.4% | 25.0% |
| EPS (diluted) | $-0.28 | $1.01 |
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 | $127.0M | — | ||
| Q4 25 | $121.0M | $186.9M | ||
| Q3 25 | $121.4M | $184.6M | ||
| Q2 25 | $120.6M | $142.2M | ||
| Q1 25 | $121.5M | $133.1M | ||
| Q4 24 | $121.9M | $143.7M | ||
| Q3 24 | $131.8M | $133.9M | ||
| Q2 24 | $125.3M | $122.2M |
| Q1 26 | $-48.8M | — | ||
| Q4 25 | $-36.7M | $12.3M | ||
| Q3 25 | $-25.9M | $8.8M | ||
| Q2 25 | $-88.7M | $7.8M | ||
| Q1 25 | $-27.0M | $10.2M | ||
| Q4 24 | $-44.5M | $9.8M | ||
| Q3 24 | $-165.2M | $7.5M | ||
| Q2 24 | $30.2M | $6.0M |
| Q1 26 | — | — | ||
| Q4 25 | 61.3% | 25.7% | ||
| Q3 25 | 62.6% | 24.2% | ||
| Q2 25 | 62.4% | 28.0% | ||
| Q1 25 | 60.8% | 27.6% | ||
| Q4 24 | 61.2% | 30.3% | ||
| Q3 24 | 64.9% | 27.0% | ||
| Q2 24 | 63.1% | 27.4% |
| Q1 26 | 1.2% | — | ||
| Q4 25 | 22.8% | 9.4% | ||
| Q3 25 | 20.8% | 7.2% | ||
| Q2 25 | -34.3% | 7.5% | ||
| Q1 25 | 12.5% | 5.9% | ||
| Q4 24 | 18.0% | 9.1% | ||
| Q3 24 | -7.2% | 8.1% | ||
| Q2 24 | 15.5% | 6.7% |
| Q1 26 | -38.4% | — | ||
| Q4 25 | -30.3% | 6.6% | ||
| Q3 25 | -21.3% | 4.8% | ||
| Q2 25 | -73.5% | 5.5% | ||
| Q1 25 | -22.2% | 7.7% | ||
| Q4 24 | -36.5% | 6.9% | ||
| Q3 24 | -125.4% | 5.6% | ||
| Q2 24 | 24.1% | 4.9% |
| Q1 26 | $-0.28 | — | ||
| Q4 25 | $-0.21 | $1.01 | ||
| Q3 25 | $-0.15 | $0.73 | ||
| Q2 25 | $-0.51 | $0.64 | ||
| Q1 25 | $-0.16 | $0.85 | ||
| Q4 24 | $-0.25 | $0.81 | ||
| Q3 24 | $-0.96 | $0.62 | ||
| Q2 24 | $0.17 | $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 | $36.2M | $11.3M |
| Total DebtLower is stronger | — | $30.5M |
| Stockholders' EquityBook value | — | $195.7M |
| Total Assets | $3.6B | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.2M | — | ||
| Q4 25 | $32.3M | $11.3M | ||
| Q3 25 | $75.5M | $9.8M | ||
| Q2 25 | $122.6M | $38.9M | ||
| Q1 25 | $29.4M | $38.1M | ||
| Q4 24 | $90.2M | $44.9M | ||
| Q3 24 | $36.5M | $51.2M | ||
| Q2 24 | $30.4M | $59.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $30.5M | ||
| Q3 25 | $2.3B | $56.3M | ||
| Q2 25 | $2.3B | $28.4M | ||
| Q1 25 | $2.2B | $23.7M | ||
| Q4 24 | $2.2B | $23.6M | ||
| Q3 24 | $2.3B | $20.5M | ||
| Q2 24 | $2.2B | $19.7M |
| Q1 26 | — | — | ||
| Q4 25 | $792.7M | $195.7M | ||
| Q3 25 | $841.5M | $181.6M | ||
| Q2 25 | $879.8M | $170.5M | ||
| Q1 25 | $993.6M | $161.1M | ||
| Q4 24 | $1.0B | $153.5M | ||
| Q3 24 | $1.1B | $142.2M | ||
| Q2 24 | $1.3B | $133.0M |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $381.1M | ||
| Q3 25 | $3.3B | $409.1M | ||
| Q2 25 | $3.4B | $343.0M | ||
| Q1 25 | $3.4B | $336.4M | ||
| Q4 24 | $3.5B | $352.1M | ||
| Q3 24 | $3.6B | $324.4M | ||
| Q2 24 | $3.8B | $303.9M |
| Q1 26 | — | — | ||
| Q4 25 | 3.23× | 0.16× | ||
| Q3 25 | 2.70× | 0.31× | ||
| Q2 25 | 2.63× | 0.17× | ||
| Q1 25 | 2.23× | 0.15× | ||
| Q4 24 | 2.13× | 0.15× | ||
| Q3 24 | 2.06× | 0.14× | ||
| Q2 24 | 1.73× | 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 | — | $28.1M |
| Free Cash FlowOCF − Capex | — | $27.9M |
| FCF MarginFCF / Revenue | — | 14.9% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $116.7M | $28.1M | ||
| Q3 25 | $47.5M | $13.3M | ||
| Q2 25 | $34.4M | $2.0M | ||
| Q1 25 | $6.3M | $2.2M | ||
| Q4 24 | $181.1M | $19.3M | ||
| Q3 24 | $52.2M | $4.9M | ||
| Q2 24 | $48.2M | $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 | — | 2.29× | ||
| Q3 25 | — | 1.52× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.22× | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | 1.60× | 2.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDN
| Rents | $120.7M | 95% |
| Third party management fees, labor reimbursement and leasing | $4.7M | 4% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
