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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $186.9M, roughly 1.2× Limbach Holdings, Inc.). Limbach Holdings, Inc. runs the higher net margin — 6.6% vs 4.4%, a 2.2% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 20.3%). Limbach Holdings, Inc. produced more free cash flow last quarter ($27.9M vs $22.7M). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs 5.1%).
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
CSW vs LMB — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $186.9M |
| Net Profit | $10.3M | $12.3M |
| Gross Margin | 39.7% | 25.7% |
| Operating Margin | 7.4% | 9.4% |
| Net Margin | 4.4% | 6.6% |
| Revenue YoY | 20.3% | 30.1% |
| Net Profit YoY | -61.9% | 25.0% |
| EPS (diluted) | $0.62 | $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.
| Q4 25 | $233.0M | $186.9M | ||
| Q3 25 | $277.0M | $184.6M | ||
| Q2 25 | $263.6M | $142.2M | ||
| Q1 25 | $230.5M | $133.1M | ||
| Q4 24 | $193.6M | $143.7M | ||
| Q3 24 | $227.9M | $133.9M | ||
| Q2 24 | $226.2M | $122.2M | ||
| Q1 24 | $210.9M | $119.0M |
| Q4 25 | $10.3M | $12.3M | ||
| Q3 25 | $40.7M | $8.8M | ||
| Q2 25 | $40.9M | $7.8M | ||
| Q1 25 | $35.1M | $10.2M | ||
| Q4 24 | $26.9M | $9.8M | ||
| Q3 24 | $36.1M | $7.5M | ||
| Q2 24 | $38.6M | $6.0M | ||
| Q1 24 | $31.8M | $7.6M |
| Q4 25 | 39.7% | 25.7% | ||
| Q3 25 | 43.0% | 24.2% | ||
| Q2 25 | 43.8% | 28.0% | ||
| Q1 25 | 44.2% | 27.6% | ||
| Q4 24 | 41.4% | 30.3% | ||
| Q3 24 | 45.6% | 27.0% | ||
| Q2 24 | 47.5% | 27.4% | ||
| Q1 24 | 44.4% | 26.1% |
| Q4 25 | 7.4% | 9.4% | ||
| Q3 25 | 20.5% | 7.2% | ||
| Q2 25 | 20.8% | 7.5% | ||
| Q1 25 | 19.5% | 5.9% | ||
| Q4 24 | 15.3% | 9.1% | ||
| Q3 24 | 22.6% | 8.1% | ||
| Q2 24 | 24.3% | 6.7% | ||
| Q1 24 | 21.0% | 5.5% |
| Q4 25 | 4.4% | 6.6% | ||
| Q3 25 | 14.7% | 4.8% | ||
| Q2 25 | 15.5% | 5.5% | ||
| Q1 25 | 15.2% | 7.7% | ||
| Q4 24 | 13.9% | 6.9% | ||
| Q3 24 | 15.8% | 5.6% | ||
| Q2 24 | 17.1% | 4.9% | ||
| Q1 24 | 15.1% | 6.4% |
| Q4 25 | $0.62 | $1.01 | ||
| Q3 25 | $2.41 | $0.73 | ||
| Q2 25 | $2.43 | $0.64 | ||
| Q1 25 | $2.05 | $0.85 | ||
| Q4 24 | $1.60 | $0.81 | ||
| Q3 24 | $2.26 | $0.62 | ||
| Q2 24 | $2.47 | $0.50 | ||
| Q1 24 | $2.03 | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.2M | $11.3M |
| Total DebtLower is stronger | — | $30.5M |
| Stockholders' EquityBook value | $1.1B | $195.7M |
| Total Assets | $2.3B | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $11.3M | ||
| Q3 25 | $31.5M | $9.8M | ||
| Q2 25 | $38.0M | $38.9M | ||
| Q1 25 | $225.8M | $38.1M | ||
| Q4 24 | $213.8M | $44.9M | ||
| Q3 24 | $273.2M | $51.2M | ||
| Q2 24 | $18.9M | $59.5M | ||
| Q1 24 | $22.2M | $48.2M |
| Q4 25 | — | $30.5M | ||
| Q3 25 | — | $56.3M | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | $800.1M | $23.7M | ||
| Q4 24 | — | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | $166.0M | $19.4M |
| Q4 25 | $1.1B | $195.7M | ||
| Q3 25 | $1.1B | $181.6M | ||
| Q2 25 | $1.1B | $170.5M | ||
| Q1 25 | $1.1B | $161.1M | ||
| Q4 24 | $1.0B | $153.5M | ||
| Q3 24 | $1.0B | $142.2M | ||
| Q2 24 | $650.2M | $133.0M | ||
| Q1 24 | $615.7M | $125.5M |
| Q4 25 | $2.3B | $381.1M | ||
| Q3 25 | $1.5B | $409.1M | ||
| Q2 25 | $1.5B | $343.0M | ||
| Q1 25 | $1.4B | $336.4M | ||
| Q4 24 | $1.4B | $352.1M | ||
| Q3 24 | $1.4B | $324.4M | ||
| Q2 24 | $1.1B | $303.9M | ||
| Q1 24 | $1.0B | $289.2M |
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | 0.75× | 0.15× | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | 0.27× | 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 | $28.9M | $28.1M |
| Free Cash FlowOCF − Capex | $22.7M | $27.9M |
| FCF MarginFCF / Revenue | 9.8% | 14.9% |
| Capex IntensityCapex / Revenue | 2.6% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.81× | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $28.1M | ||
| Q3 25 | $61.8M | $13.3M | ||
| Q2 25 | $60.6M | $2.0M | ||
| Q1 25 | $27.3M | $2.2M | ||
| Q4 24 | $11.6M | $19.3M | ||
| Q3 24 | $66.8M | $4.9M | ||
| Q2 24 | $62.7M | $16.5M | ||
| Q1 24 | $22.4M | $-3.9M |
| Q4 25 | $22.7M | $27.9M | ||
| Q3 25 | $58.7M | $12.8M | ||
| Q2 25 | $57.7M | $1.2M | ||
| Q1 25 | $22.8M | $11.0K | ||
| Q4 24 | $8.5M | $18.0M | ||
| Q3 24 | $61.3M | $4.6M | ||
| Q2 24 | $59.6M | $13.2M | ||
| Q1 24 | $17.5M | $-6.5M |
| Q4 25 | 9.8% | 14.9% | ||
| Q3 25 | 21.2% | 7.0% | ||
| Q2 25 | 21.9% | 0.8% | ||
| Q1 25 | 9.9% | 0.0% | ||
| Q4 24 | 4.4% | 12.5% | ||
| Q3 24 | 26.9% | 3.4% | ||
| Q2 24 | 26.3% | 10.8% | ||
| Q1 24 | 8.3% | -5.5% |
| Q4 25 | 2.6% | 0.1% | ||
| Q3 25 | 1.1% | 0.3% | ||
| Q2 25 | 1.1% | 0.6% | ||
| Q1 25 | 2.0% | 1.7% | ||
| Q4 24 | 1.6% | 0.9% | ||
| Q3 24 | 2.4% | 0.3% | ||
| Q2 24 | 1.4% | 2.7% | ||
| Q1 24 | 2.3% | 2.1% |
| Q4 25 | 2.81× | 2.29× | ||
| Q3 25 | 1.52× | 1.52× | ||
| Q2 25 | 1.48× | 0.26× | ||
| Q1 25 | 0.78× | 0.22× | ||
| Q4 24 | 0.43× | 1.96× | ||
| Q3 24 | 1.85× | 0.66× | ||
| Q2 24 | 1.62× | 2.77× | ||
| Q1 24 | 0.71× | -0.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
