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Side-by-side financial comparison of INDEPENDENCE REALTY TRUST, INC. (IRT) 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 $165.3M, roughly 1.1× INDEPENDENCE REALTY TRUST, INC.). On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 2.5%). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs 2.2%).
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.
IRT vs LMB — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $165.3M | $186.9M |
| Net Profit | — | $12.3M |
| Gross Margin | — | 25.7% |
| Operating Margin | — | 9.4% |
| Net Margin | — | 6.6% |
| Revenue YoY | 2.5% | 30.1% |
| Net Profit YoY | — | 25.0% |
| EPS (diluted) | $0.00 | $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 | $165.3M | — | ||
| Q4 25 | $167.1M | $186.9M | ||
| Q3 25 | $167.1M | $184.6M | ||
| Q2 25 | $162.2M | $142.2M | ||
| Q1 25 | $161.2M | $133.1M | ||
| Q4 24 | $161.0M | $143.7M | ||
| Q3 24 | $160.1M | $133.9M | ||
| Q2 24 | $158.4M | $122.2M |
| Q1 26 | — | — | ||
| Q4 25 | $33.3M | $12.3M | ||
| Q3 25 | $6.9M | $8.8M | ||
| Q2 25 | $8.0M | $7.8M | ||
| Q1 25 | $8.4M | $10.2M | ||
| Q4 24 | $-1.0M | $9.8M | ||
| Q3 24 | $12.4M | $7.5M | ||
| Q2 24 | $10.4M | $6.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | — | 7.5% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | — | 6.7% |
| Q1 26 | — | — | ||
| Q4 25 | 19.9% | 6.6% | ||
| Q3 25 | 4.1% | 4.8% | ||
| Q2 25 | 5.0% | 5.5% | ||
| Q1 25 | 5.2% | 7.7% | ||
| Q4 24 | -0.6% | 6.9% | ||
| Q3 24 | 7.7% | 5.6% | ||
| Q2 24 | 6.5% | 4.9% |
| Q1 26 | $0.00 | — | ||
| Q4 25 | $0.14 | $1.01 | ||
| Q3 25 | $0.03 | $0.73 | ||
| Q2 25 | $0.03 | $0.64 | ||
| Q1 25 | $0.04 | $0.85 | ||
| Q4 24 | $-0.01 | $0.81 | ||
| Q3 24 | $0.05 | $0.62 | ||
| Q2 24 | $0.05 | $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 | $23.3M | $11.3M |
| Total DebtLower is stronger | — | $30.5M |
| Stockholders' EquityBook value | $3.4B | $195.7M |
| Total Assets | $6.1B | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $23.3M | — | ||
| Q4 25 | $23.6M | $11.3M | ||
| Q3 25 | $23.3M | $9.8M | ||
| Q2 25 | $19.5M | $38.9M | ||
| Q1 25 | $29.1M | $38.1M | ||
| Q4 24 | $21.2M | $44.9M | ||
| Q3 24 | $17.6M | $51.2M | ||
| Q2 24 | $21.0M | $59.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $30.5M | ||
| Q3 25 | $2.3B | $56.3M | ||
| Q2 25 | $2.2B | $28.4M | ||
| Q1 25 | $2.3B | $23.7M | ||
| Q4 24 | $2.3B | $23.6M | ||
| Q3 24 | $2.3B | $20.5M | ||
| Q2 24 | $2.3B | $19.7M |
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.5B | $195.7M | ||
| Q3 25 | $3.5B | $181.6M | ||
| Q2 25 | $3.4B | $170.5M | ||
| Q1 25 | $3.5B | $161.1M | ||
| Q4 24 | $3.4B | $153.5M | ||
| Q3 24 | $3.4B | $142.2M | ||
| Q2 24 | $3.4B | $133.0M |
| Q1 26 | $6.1B | — | ||
| Q4 25 | $6.0B | $381.1M | ||
| Q3 25 | $6.1B | $409.1M | ||
| Q2 25 | $6.0B | $343.0M | ||
| Q1 25 | $6.0B | $336.4M | ||
| Q4 24 | $6.1B | $352.1M | ||
| Q3 24 | $5.9B | $324.4M | ||
| Q2 24 | $5.9B | $303.9M |
| Q1 26 | — | — | ||
| Q4 25 | 0.66× | 0.16× | ||
| Q3 25 | 0.66× | 0.31× | ||
| Q2 25 | 0.66× | 0.17× | ||
| Q1 25 | 0.65× | 0.15× | ||
| Q4 24 | 0.68× | 0.15× | ||
| Q3 24 | 0.68× | 0.14× | ||
| Q2 24 | 0.66× | 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 | $282.1M | $28.1M | ||
| Q3 25 | $79.3M | $13.3M | ||
| Q2 25 | $82.2M | $2.0M | ||
| Q1 25 | $60.4M | $2.2M | ||
| Q4 24 | $259.8M | $19.3M | ||
| Q3 24 | $69.2M | $4.9M | ||
| Q2 24 | $83.0M | $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 | 8.48× | 2.29× | ||
| Q3 25 | 11.51× | 1.52× | ||
| Q2 25 | 10.22× | 0.26× | ||
| Q1 25 | 7.23× | 0.22× | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | 5.60× | 0.66× | ||
| Q2 24 | 8.02× | 2.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
