vs
Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) 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 $113.9M, roughly 1.6× Industrial Logistics Properties Trust). Limbach Holdings, Inc. runs the higher net margin — 6.6% vs -1.6%, a 8.1% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $27.9M). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs 0.7%).
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
ILPT vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $186.9M |
| Net Profit | $-1.8M | $12.3M |
| Gross Margin | — | 25.7% |
| Operating Margin | -22.1% | 9.4% |
| Net Margin | -1.6% | 6.6% |
| Revenue YoY | 3.1% | 30.1% |
| Net Profit YoY | 92.6% | 25.0% |
| EPS (diluted) | $-0.02 | $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 | $113.9M | $186.9M | ||
| Q3 25 | $110.9M | $184.6M | ||
| Q2 25 | $112.1M | $142.2M | ||
| Q1 25 | $111.9M | $133.1M | ||
| Q4 24 | $110.5M | $143.7M | ||
| Q3 24 | $108.9M | $133.9M | ||
| Q2 24 | $110.6M | $122.2M | ||
| Q1 24 | $112.2M | $119.0M |
| Q4 25 | $-1.8M | $12.3M | ||
| Q3 25 | $-21.6M | $8.8M | ||
| Q2 25 | $-21.3M | $7.8M | ||
| Q1 25 | $-21.5M | $10.2M | ||
| Q4 24 | $-24.1M | $9.8M | ||
| Q3 24 | $-25.0M | $7.5M | ||
| Q2 24 | $-23.2M | $6.0M | ||
| Q1 24 | $-23.4M | $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 | -22.1% | 9.4% | ||
| Q3 25 | -29.4% | 7.2% | ||
| Q2 25 | -30.8% | 7.5% | ||
| Q1 25 | -26.9% | 5.9% | ||
| Q4 24 | -31.1% | 9.1% | ||
| Q3 24 | -33.5% | 8.1% | ||
| Q2 24 | -32.4% | 6.7% | ||
| Q1 24 | -31.7% | 5.5% |
| Q4 25 | -1.6% | 6.6% | ||
| Q3 25 | -19.4% | 4.8% | ||
| Q2 25 | -19.0% | 5.5% | ||
| Q1 25 | -19.2% | 7.7% | ||
| Q4 24 | -21.8% | 6.9% | ||
| Q3 24 | -22.9% | 5.6% | ||
| Q2 24 | -20.9% | 4.9% | ||
| Q1 24 | -20.9% | 6.4% |
| Q4 25 | $-0.02 | $1.01 | ||
| Q3 25 | $-0.33 | $0.73 | ||
| Q2 25 | $-0.32 | $0.64 | ||
| Q1 25 | $-0.33 | $0.85 | ||
| Q4 24 | $-0.37 | $0.81 | ||
| Q3 24 | $-0.38 | $0.62 | ||
| Q2 24 | $-0.35 | $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 | $94.8M | $11.3M |
| Total DebtLower is stronger | $4.2B | $30.5M |
| Stockholders' EquityBook value | $489.7M | $195.7M |
| Total Assets | $5.2B | $381.1M |
| Debt / EquityLower = less leverage | 8.56× | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $11.3M | ||
| Q3 25 | $83.2M | $9.8M | ||
| Q2 25 | $58.6M | $38.9M | ||
| Q1 25 | $108.0M | $38.1M | ||
| Q4 24 | $131.7M | $44.9M | ||
| Q3 24 | $153.9M | $51.2M | ||
| Q2 24 | $146.2M | $59.5M | ||
| Q1 24 | $128.4M | $48.2M |
| Q4 25 | $4.2B | $30.5M | ||
| Q3 25 | $4.2B | $56.3M | ||
| Q2 25 | $4.2B | $28.4M | ||
| Q1 25 | $4.3B | $23.7M | ||
| Q4 24 | $4.3B | $23.6M | ||
| Q3 24 | $4.3B | $20.5M | ||
| Q2 24 | $4.3B | $19.7M | ||
| Q1 24 | $4.3B | $19.4M |
| Q4 25 | $489.7M | $195.7M | ||
| Q3 25 | $494.1M | $181.6M | ||
| Q2 25 | $519.1M | $170.5M | ||
| Q1 25 | $539.5M | $161.1M | ||
| Q4 24 | $562.0M | $153.5M | ||
| Q3 24 | $585.9M | $142.2M | ||
| Q2 24 | $618.3M | $133.0M | ||
| Q1 24 | $643.2M | $125.5M |
| Q4 25 | $5.2B | $381.1M | ||
| Q3 25 | $5.2B | $409.1M | ||
| Q2 25 | $5.2B | $343.0M | ||
| Q1 25 | $5.4B | $336.4M | ||
| Q4 24 | $5.4B | $352.1M | ||
| Q3 24 | $5.5B | $324.4M | ||
| Q2 24 | $5.5B | $303.9M | ||
| Q1 24 | $5.5B | $289.2M |
| Q4 25 | 8.56× | 0.16× | ||
| Q3 25 | 8.49× | 0.31× | ||
| Q2 25 | 8.09× | 0.17× | ||
| Q1 25 | 7.96× | 0.15× | ||
| Q4 24 | 7.65× | 0.15× | ||
| Q3 24 | 7.35× | 0.14× | ||
| Q2 24 | 6.96× | 0.15× | ||
| Q1 24 | 6.70× | 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 | $60.7M | $28.1M |
| Free Cash FlowOCF − Capex | $42.0M | $27.9M |
| FCF MarginFCF / Revenue | 36.9% | 14.9% |
| Capex IntensityCapex / Revenue | 16.4% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $28.1M | ||
| Q3 25 | $22.7M | $13.3M | ||
| Q2 25 | $18.4M | $2.0M | ||
| Q1 25 | $11.4M | $2.2M | ||
| Q4 24 | $2.0M | $19.3M | ||
| Q3 24 | $-3.4M | $4.9M | ||
| Q2 24 | $10.8M | $16.5M | ||
| Q1 24 | $8.0M | $-3.9M |
| Q4 25 | $42.0M | $27.9M | ||
| Q3 25 | $17.6M | $12.8M | ||
| Q2 25 | $15.2M | $1.2M | ||
| Q1 25 | $5.0M | $11.0K | ||
| Q4 24 | $-3.7M | $18.0M | ||
| Q3 24 | $-5.9M | $4.6M | ||
| Q2 24 | $9.4M | $13.2M | ||
| Q1 24 | $5.9M | $-6.5M |
| Q4 25 | 36.9% | 14.9% | ||
| Q3 25 | 15.9% | 7.0% | ||
| Q2 25 | 13.5% | 0.8% | ||
| Q1 25 | 4.5% | 0.0% | ||
| Q4 24 | -3.4% | 12.5% | ||
| Q3 24 | -5.5% | 3.4% | ||
| Q2 24 | 8.5% | 10.8% | ||
| Q1 24 | 5.2% | -5.5% |
| Q4 25 | 16.4% | 0.1% | ||
| Q3 25 | 4.6% | 0.3% | ||
| Q2 25 | 2.9% | 0.6% | ||
| Q1 25 | 5.7% | 1.7% | ||
| Q4 24 | 5.2% | 0.9% | ||
| Q3 24 | 2.3% | 0.3% | ||
| Q2 24 | 1.3% | 2.7% | ||
| Q1 24 | 1.9% | 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
ILPT
Segment breakdown not available.
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
