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Side-by-side financial comparison of H2O AMERICA (HTO) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $186.9M, roughly 1.1× Limbach Holdings, Inc.). H2O AMERICA runs the higher net margin — 8.1% vs 6.6%, a 1.6% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 1.5%). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs 15.3%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
HTO vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $186.9M |
| Net Profit | $16.2M | $12.3M |
| Gross Margin | — | 25.7% |
| Operating Margin | 16.6% | 9.4% |
| Net Margin | 8.1% | 6.6% |
| Revenue YoY | 1.5% | 30.1% |
| Net Profit YoY | -29.2% | 25.0% |
| EPS (diluted) | $0.45 | $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 | $199.4M | $186.9M | ||
| Q3 25 | $243.5M | $184.6M | ||
| Q2 25 | $197.8M | $142.2M | ||
| Q1 25 | $164.9M | $133.1M | ||
| Q4 24 | $196.5M | $143.7M | ||
| Q3 24 | $216.7M | $133.9M | ||
| Q2 24 | $173.1M | $122.2M | ||
| Q1 24 | $150.0M | $119.0M |
| Q4 25 | $16.2M | $12.3M | ||
| Q3 25 | $45.1M | $8.8M | ||
| Q2 25 | $24.7M | $7.8M | ||
| Q1 25 | $16.6M | $10.2M | ||
| Q4 24 | $22.9M | $9.8M | ||
| Q3 24 | $38.7M | $7.5M | ||
| Q2 24 | $20.7M | $6.0M | ||
| Q1 24 | $11.7M | $7.6M |
| 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 24 | — | 26.1% |
| Q4 25 | 16.6% | 9.4% | ||
| Q3 25 | 26.5% | 7.2% | ||
| Q2 25 | 22.2% | 7.5% | ||
| Q1 25 | 21.8% | 5.9% | ||
| Q4 24 | 22.2% | 9.1% | ||
| Q3 24 | 26.9% | 8.1% | ||
| Q2 24 | 23.4% | 6.7% | ||
| Q1 24 | 18.6% | 5.5% |
| Q4 25 | 8.1% | 6.6% | ||
| Q3 25 | 18.5% | 4.8% | ||
| Q2 25 | 12.5% | 5.5% | ||
| Q1 25 | 10.0% | 7.7% | ||
| Q4 24 | 11.7% | 6.9% | ||
| Q3 24 | 17.8% | 5.6% | ||
| Q2 24 | 12.0% | 4.9% | ||
| Q1 24 | 7.8% | 6.4% |
| Q4 25 | $0.45 | $1.01 | ||
| Q3 25 | $1.27 | $0.73 | ||
| Q2 25 | $0.71 | $0.64 | ||
| Q1 25 | $0.49 | $0.85 | ||
| Q4 24 | $0.70 | $0.81 | ||
| Q3 24 | $1.17 | $0.62 | ||
| Q2 24 | $0.64 | $0.50 | ||
| Q1 24 | $0.36 | $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 | $20.7M | $11.3M |
| Total DebtLower is stronger | $1.9B | $30.5M |
| Stockholders' EquityBook value | $1.5B | $195.7M |
| Total Assets | $5.1B | $381.1M |
| Debt / EquityLower = less leverage | 1.23× | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $11.3M | ||
| Q3 25 | $11.3M | $9.8M | ||
| Q2 25 | $19.8M | $38.9M | ||
| Q1 25 | $23.7M | $38.1M | ||
| Q4 24 | $11.1M | $44.9M | ||
| Q3 24 | $4.0M | $51.2M | ||
| Q2 24 | $22.8M | $59.5M | ||
| Q1 24 | $4.5M | $48.2M |
| Q4 25 | $1.9B | $30.5M | ||
| Q3 25 | — | $56.3M | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | $1.7B | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $19.4M |
| Q4 25 | $1.5B | $195.7M | ||
| Q3 25 | $1.5B | $181.6M | ||
| Q2 25 | $1.5B | $170.5M | ||
| Q1 25 | $1.4B | $161.1M | ||
| Q4 24 | $1.4B | $153.5M | ||
| Q3 24 | $1.3B | $142.2M | ||
| Q2 24 | $1.3B | $133.0M | ||
| Q1 24 | $1.2B | $125.5M |
| Q4 25 | $5.1B | $381.1M | ||
| Q3 25 | $5.0B | $409.1M | ||
| Q2 25 | $4.8B | $343.0M | ||
| Q1 25 | $4.7B | $336.4M | ||
| Q4 24 | $4.7B | $352.1M | ||
| Q3 24 | $4.6B | $324.4M | ||
| Q2 24 | $4.4B | $303.9M | ||
| Q1 24 | $4.4B | $289.2M |
| Q4 25 | 1.23× | 0.16× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | 1.26× | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 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 | $63.5M | $28.1M |
| Free Cash FlowOCF − Capex | — | $27.9M |
| FCF MarginFCF / Revenue | — | 14.9% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 3.92× | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $28.1M | ||
| Q3 25 | $77.3M | $13.3M | ||
| Q2 25 | $60.8M | $2.0M | ||
| Q1 25 | $43.2M | $2.2M | ||
| Q4 24 | $41.5M | $19.3M | ||
| Q3 24 | $53.5M | $4.9M | ||
| Q2 24 | $49.3M | $16.5M | ||
| Q1 24 | $51.2M | $-3.9M |
| 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 24 | — | $-6.5M |
| 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 24 | — | -5.5% |
| 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 24 | — | 2.1% |
| Q4 25 | 3.92× | 2.29× | ||
| Q3 25 | 1.71× | 1.52× | ||
| Q2 25 | 2.47× | 0.26× | ||
| Q1 25 | 2.61× | 0.22× | ||
| Q4 24 | 1.81× | 1.96× | ||
| Q3 24 | 1.39× | 0.66× | ||
| Q2 24 | 2.38× | 2.77× | ||
| Q1 24 | 4.38× | -0.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
