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Side-by-side financial comparison of James River Group Holdings, Inc. (JRVR) 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 $167.7M, roughly 1.1× James River Group Holdings, Inc.). James River Group Holdings, Inc. runs the higher net margin — 19.1% vs 6.6%, a 12.5% gap on every dollar of revenue. On growth, James River Group Holdings, Inc. posted the faster year-over-year revenue change (32.4% vs 30.1%). Limbach Holdings, Inc. produced more free cash flow last quarter ($27.9M vs $-23.6M). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs -8.7%).
James River Corporation was an American pulp and paper company based in Richmond, Virginia, once the largest paper manufacturer in the world.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
JRVR vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $167.7M | $186.9M |
| Net Profit | $32.1M | $12.3M |
| Gross Margin | — | 25.7% |
| Operating Margin | 14.6% | 9.4% |
| Net Margin | 19.1% | 6.6% |
| Revenue YoY | 32.4% | 30.1% |
| Net Profit YoY | 149.5% | 25.0% |
| EPS (diluted) | $0.59 | $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 | $167.7M | $186.9M | ||
| Q3 25 | $172.7M | $184.6M | ||
| Q2 25 | $174.8M | $142.2M | ||
| Q1 25 | $172.3M | $133.1M | ||
| Q4 24 | $126.7M | $143.7M | ||
| Q3 24 | $191.5M | $133.9M | ||
| Q2 24 | $188.3M | $122.2M | ||
| Q1 24 | $201.1M | $119.0M |
| Q4 25 | $32.1M | $12.3M | ||
| Q3 25 | $1.0M | $8.8M | ||
| Q2 25 | $4.8M | $7.8M | ||
| Q1 25 | $9.6M | $10.2M | ||
| Q4 24 | $-64.8M | $9.8M | ||
| Q3 24 | $-39.4M | $7.5M | ||
| Q2 24 | $7.6M | $6.0M | ||
| Q1 24 | $15.4M | $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 | 14.6% | 9.4% | ||
| Q3 25 | 1.5% | 7.2% | ||
| Q2 25 | 4.2% | 7.5% | ||
| Q1 25 | 9.3% | 5.9% | ||
| Q4 24 | -57.0% | 9.1% | ||
| Q3 24 | -27.1% | 8.1% | ||
| Q2 24 | 10.7% | 6.7% | ||
| Q1 24 | 16.4% | 5.5% |
| Q4 25 | 19.1% | 6.6% | ||
| Q3 25 | 0.6% | 4.8% | ||
| Q2 25 | 2.7% | 5.5% | ||
| Q1 25 | 5.6% | 7.7% | ||
| Q4 24 | -51.1% | 6.9% | ||
| Q3 24 | -20.6% | 5.6% | ||
| Q2 24 | 4.0% | 4.9% | ||
| Q1 24 | 7.7% | 6.4% |
| Q4 25 | $0.59 | $1.01 | ||
| Q3 25 | $-0.02 | $0.73 | ||
| Q2 25 | $0.06 | $0.64 | ||
| Q1 25 | $0.16 | $0.85 | ||
| Q4 24 | $-2.44 | $0.81 | ||
| Q3 24 | $-1.10 | $0.62 | ||
| Q2 24 | $0.13 | $0.50 | ||
| Q1 24 | $0.35 | $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 | $260.9M | $11.3M |
| Total DebtLower is stronger | — | $30.5M |
| Stockholders' EquityBook value | $538.2M | $195.7M |
| Total Assets | $4.9B | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $260.9M | $11.3M | ||
| Q3 25 | $238.8M | $9.8M | ||
| Q2 25 | $220.0M | $38.9M | ||
| Q1 25 | $279.4M | $38.1M | ||
| Q4 24 | $362.3M | $44.9M | ||
| Q3 24 | $359.8M | $51.2M | ||
| Q2 24 | $672.5M | $59.5M | ||
| Q1 24 | $305.5M | $48.2M |
| Q4 25 | — | $30.5M | ||
| Q3 25 | — | $56.3M | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $19.4M |
| Q4 25 | $538.2M | $195.7M | ||
| Q3 25 | $503.6M | $181.6M | ||
| Q2 25 | $492.6M | $170.5M | ||
| Q1 25 | $484.5M | $161.1M | ||
| Q4 24 | $460.9M | $153.5M | ||
| Q3 24 | $530.3M | $142.2M | ||
| Q2 24 | $541.8M | $133.0M | ||
| Q1 24 | $539.5M | $125.5M |
| Q4 25 | $4.9B | $381.1M | ||
| Q3 25 | $5.0B | $409.1M | ||
| Q2 25 | $5.0B | $343.0M | ||
| Q1 25 | $4.9B | $336.4M | ||
| Q4 24 | $5.0B | $352.1M | ||
| Q3 24 | $5.0B | $324.4M | ||
| Q2 24 | $4.7B | $303.9M | ||
| Q1 24 | $5.3B | $289.2M |
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 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 | $-18.8M | $28.1M |
| Free Cash FlowOCF − Capex | $-23.6M | $27.9M |
| FCF MarginFCF / Revenue | -14.1% | 14.9% |
| Capex IntensityCapex / Revenue | 2.9% | 0.1% |
| Cash ConversionOCF / Net Profit | -0.59× | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | $-17.9M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.8M | $28.1M | ||
| Q3 25 | $34.3M | $13.3M | ||
| Q2 25 | $25.2M | $2.0M | ||
| Q1 25 | $-51.5M | $2.2M | ||
| Q4 24 | $-247.1M | $19.3M | ||
| Q3 24 | $-269.9M | $4.9M | ||
| Q2 24 | $-8.7M | $16.5M | ||
| Q1 24 | $24.1M | $-3.9M |
| Q4 25 | $-23.6M | $27.9M | ||
| Q3 25 | $33.7M | $12.8M | ||
| Q2 25 | $24.7M | $1.2M | ||
| Q1 25 | $-52.7M | $11.0K | ||
| Q4 24 | $-252.0M | $18.0M | ||
| Q3 24 | $-270.8M | $4.6M | ||
| Q2 24 | $-9.3M | $13.2M | ||
| Q1 24 | $23.3M | $-6.5M |
| Q4 25 | -14.1% | 14.9% | ||
| Q3 25 | 19.5% | 7.0% | ||
| Q2 25 | 14.1% | 0.8% | ||
| Q1 25 | -30.6% | 0.0% | ||
| Q4 24 | -198.9% | 12.5% | ||
| Q3 24 | -141.4% | 3.4% | ||
| Q2 24 | -4.9% | 10.8% | ||
| Q1 24 | 11.6% | -5.5% |
| Q4 25 | 2.9% | 0.1% | ||
| Q3 25 | 0.4% | 0.3% | ||
| Q2 25 | 0.3% | 0.6% | ||
| Q1 25 | 0.7% | 1.7% | ||
| Q4 24 | 3.9% | 0.9% | ||
| Q3 24 | 0.4% | 0.3% | ||
| Q2 24 | 0.3% | 2.7% | ||
| Q1 24 | 0.4% | 2.1% |
| Q4 25 | -0.59× | 2.29× | ||
| Q3 25 | 33.61× | 1.52× | ||
| Q2 25 | 5.29× | 0.26× | ||
| Q1 25 | -5.38× | 0.22× | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | -1.14× | 2.77× | ||
| Q1 24 | 1.56× | -0.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JRVR
| Excess And Surplus Lines | $156.7M | 93% |
| Specialty Admitted Insurance | $10.9M | 7% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
