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Side-by-side financial comparison of ICHOR HOLDINGS, LTD. (ICHR) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
ICHOR HOLDINGS, LTD. is the larger business by last-quarter revenue ($223.6M vs $186.9M, roughly 1.2× Limbach Holdings, Inc.). Limbach Holdings, Inc. runs the higher net margin — 6.6% vs -7.1%, a 13.7% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs -4.2%). Limbach Holdings, Inc. produced more free cash flow last quarter ($27.9M vs $5.9M). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs 5.4%).
Ichor Holdings Ltd. designs, manufactures and supplies critical fluid delivery systems, subsystems and related components for the global semiconductor manufacturing sector. Its products are integrated into front-end wafer processing equipment, supporting production of advanced logic, memory and specialty chips for leading semiconductor device and equipment makers across North America, East Asia and Europe.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
ICHR vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $223.6M | $186.9M |
| Net Profit | $-16.0M | $12.3M |
| Gross Margin | 9.4% | 25.7% |
| Operating Margin | -6.2% | 9.4% |
| Net Margin | -7.1% | 6.6% |
| Revenue YoY | -4.2% | 30.1% |
| Net Profit YoY | -304.8% | 25.0% |
| EPS (diluted) | $-0.46 | $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 | $223.6M | $186.9M | ||
| Q3 25 | $239.3M | $184.6M | ||
| Q2 25 | $240.3M | $142.2M | ||
| Q1 25 | $244.5M | $133.1M | ||
| Q4 24 | $233.3M | $143.7M | ||
| Q3 24 | $211.1M | $133.9M | ||
| Q2 24 | $203.2M | $122.2M | ||
| Q1 24 | $201.4M | $119.0M |
| Q4 25 | $-16.0M | $12.3M | ||
| Q3 25 | $-22.9M | $8.8M | ||
| Q2 25 | $-9.4M | $7.8M | ||
| Q1 25 | $-4.6M | $10.2M | ||
| Q4 24 | $-3.9M | $9.8M | ||
| Q3 24 | $-2.8M | $7.5M | ||
| Q2 24 | $-5.1M | $6.0M | ||
| Q1 24 | $-9.0M | $7.6M |
| Q4 25 | 9.4% | 25.7% | ||
| Q3 25 | 4.6% | 24.2% | ||
| Q2 25 | 11.3% | 28.0% | ||
| Q1 25 | 11.7% | 27.6% | ||
| Q4 24 | 11.6% | 30.3% | ||
| Q3 24 | 13.2% | 27.0% | ||
| Q2 24 | 12.6% | 27.4% | ||
| Q1 24 | 11.4% | 26.1% |
| Q4 25 | -6.2% | 9.4% | ||
| Q3 25 | -8.1% | 7.2% | ||
| Q2 25 | -2.0% | 7.5% | ||
| Q1 25 | -0.5% | 5.9% | ||
| Q4 24 | -0.5% | 9.1% | ||
| Q3 24 | -0.2% | 8.1% | ||
| Q2 24 | -1.1% | 6.7% | ||
| Q1 24 | -1.9% | 5.5% |
| Q4 25 | -7.1% | 6.6% | ||
| Q3 25 | -9.6% | 4.8% | ||
| Q2 25 | -3.9% | 5.5% | ||
| Q1 25 | -1.9% | 7.7% | ||
| Q4 24 | -1.7% | 6.9% | ||
| Q3 24 | -1.3% | 5.6% | ||
| Q2 24 | -2.5% | 4.9% | ||
| Q1 24 | -4.5% | 6.4% |
| Q4 25 | $-0.46 | $1.01 | ||
| Q3 25 | $-0.67 | $0.73 | ||
| Q2 25 | $-0.28 | $0.64 | ||
| Q1 25 | $-0.13 | $0.85 | ||
| Q4 24 | $-0.11 | $0.81 | ||
| Q3 24 | $-0.08 | $0.62 | ||
| Q2 24 | $-0.15 | $0.50 | ||
| Q1 24 | $-0.30 | $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 | $98.3M | $11.3M |
| Total DebtLower is stronger | $123.5M | $30.5M |
| Stockholders' EquityBook value | $663.9M | $195.7M |
| Total Assets | $942.9M | $381.1M |
| Debt / EquityLower = less leverage | 0.19× | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.3M | $11.3M | ||
| Q3 25 | $92.5M | $9.8M | ||
| Q2 25 | $92.2M | $38.9M | ||
| Q1 25 | $109.3M | $38.1M | ||
| Q4 24 | $108.7M | $44.9M | ||
| Q3 24 | $116.4M | $51.2M | ||
| Q2 24 | $114.3M | $59.5M | ||
| Q1 24 | $102.1M | $48.2M |
| Q4 25 | $123.5M | $30.5M | ||
| Q3 25 | $123.5M | $56.3M | ||
| Q2 25 | $125.0M | $28.4M | ||
| Q1 25 | $126.8M | $23.7M | ||
| Q4 24 | $128.5M | $23.6M | ||
| Q3 24 | $130.3M | $20.5M | ||
| Q2 24 | $130.2M | $19.7M | ||
| Q1 24 | $131.9M | $19.4M |
| Q4 25 | $663.9M | $195.7M | ||
| Q3 25 | $676.2M | $181.6M | ||
| Q2 25 | $694.1M | $170.5M | ||
| Q1 25 | $700.4M | $161.1M | ||
| Q4 24 | $698.3M | $153.5M | ||
| Q3 24 | $697.3M | $142.2M | ||
| Q2 24 | $694.9M | $133.0M | ||
| Q1 24 | $697.2M | $125.5M |
| Q4 25 | $942.9M | $381.1M | ||
| Q3 25 | $966.6M | $409.1M | ||
| Q2 25 | $985.1M | $343.0M | ||
| Q1 25 | $1.0B | $336.4M | ||
| Q4 24 | $995.6M | $352.1M | ||
| Q3 24 | $975.9M | $324.4M | ||
| Q2 24 | $947.7M | $303.9M | ||
| Q1 24 | $957.4M | $289.2M |
| Q4 25 | 0.19× | 0.16× | ||
| Q3 25 | 0.18× | 0.31× | ||
| Q2 25 | 0.18× | 0.17× | ||
| Q1 25 | 0.18× | 0.15× | ||
| Q4 24 | 0.18× | 0.15× | ||
| Q3 24 | 0.19× | 0.14× | ||
| Q2 24 | 0.19× | 0.15× | ||
| Q1 24 | 0.19× | 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 | $9.2M | $28.1M |
| Free Cash FlowOCF − Capex | $5.9M | $27.9M |
| FCF MarginFCF / Revenue | 2.6% | 14.9% |
| Capex IntensityCapex / Revenue | 1.5% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | $-6.3M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.2M | $28.1M | ||
| Q3 25 | $9.2M | $13.3M | ||
| Q2 25 | $-7.5M | $2.0M | ||
| Q1 25 | $19.0M | $2.2M | ||
| Q4 24 | $-2.5M | $19.3M | ||
| Q3 24 | $8.1M | $4.9M | ||
| Q2 24 | $17.5M | $16.5M | ||
| Q1 24 | $4.8M | $-3.9M |
| Q4 25 | $5.9M | $27.9M | ||
| Q3 25 | $2.1M | $12.8M | ||
| Q2 25 | $-14.8M | $1.2M | ||
| Q1 25 | $496.0K | $11.0K | ||
| Q4 24 | $-6.9M | $18.0M | ||
| Q3 24 | $2.2M | $4.6M | ||
| Q2 24 | $14.6M | $13.2M | ||
| Q1 24 | $314.0K | $-6.5M |
| Q4 25 | 2.6% | 14.9% | ||
| Q3 25 | 0.9% | 7.0% | ||
| Q2 25 | -6.2% | 0.8% | ||
| Q1 25 | 0.2% | 0.0% | ||
| Q4 24 | -3.0% | 12.5% | ||
| Q3 24 | 1.0% | 3.4% | ||
| Q2 24 | 7.2% | 10.8% | ||
| Q1 24 | 0.2% | -5.5% |
| Q4 25 | 1.5% | 0.1% | ||
| Q3 25 | 3.0% | 0.3% | ||
| Q2 25 | 3.0% | 0.6% | ||
| Q1 25 | 7.6% | 1.7% | ||
| Q4 24 | 1.9% | 0.9% | ||
| Q3 24 | 2.8% | 0.3% | ||
| Q2 24 | 1.4% | 2.7% | ||
| Q1 24 | 2.2% | 2.1% |
| 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 | — | 2.77× | ||
| Q1 24 | — | -0.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICHR
| Other | $101.6M | 45% |
| US | $67.4M | 30% |
| Other Countries | $29.7M | 13% |
| Europe | $24.9M | 11% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
