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Side-by-side financial comparison of Limbach Holdings, Inc. (LMB) and NNN REIT, INC. (NNN). Click either name above to swap in a different company.
NNN REIT, INC. is the larger business by last-quarter revenue ($240.4M vs $186.9M, roughly 1.3× Limbach Holdings, Inc.). NNN REIT, INC. runs the higher net margin — 39.1% vs 6.6%, a 32.5% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 4.1%). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs 5.3%).
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
NNN Reit, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.
LMB vs NNN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $186.9M | $240.4M |
| Net Profit | $12.3M | $94.0M |
| Gross Margin | 25.7% | — |
| Operating Margin | 9.4% | 61.0% |
| Net Margin | 6.6% | 39.1% |
| Revenue YoY | 30.1% | 4.1% |
| Net Profit YoY | 25.0% | -2.6% |
| EPS (diluted) | $1.01 | $0.50 |
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 | — | $240.4M | ||
| Q4 25 | $186.9M | $238.4M | ||
| Q3 25 | $184.6M | $230.2M | ||
| Q2 25 | $142.2M | $226.8M | ||
| Q1 25 | $133.1M | $230.9M | ||
| Q4 24 | $143.7M | $218.5M | ||
| Q3 24 | $133.9M | $218.6M | ||
| Q2 24 | $122.2M | $216.8M |
| Q1 26 | — | $94.0M | ||
| Q4 25 | $12.3M | $96.0M | ||
| Q3 25 | $8.8M | $96.8M | ||
| Q2 25 | $7.8M | $100.5M | ||
| Q1 25 | $10.2M | $96.5M | ||
| Q4 24 | $9.8M | $97.9M | ||
| Q3 24 | $7.5M | $97.9M | ||
| Q2 24 | $6.0M | $106.7M |
| 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 | — | 61.0% | ||
| Q4 25 | 9.4% | 62.3% | ||
| Q3 25 | 7.2% | 64.0% | ||
| Q2 25 | 7.5% | 66.0% | ||
| Q1 25 | 5.9% | 62.3% | ||
| Q4 24 | 9.1% | 65.8% | ||
| Q3 24 | 8.1% | 65.7% | ||
| Q2 24 | 6.7% | 70.2% |
| Q1 26 | — | 39.1% | ||
| Q4 25 | 6.6% | 40.2% | ||
| Q3 25 | 4.8% | 42.1% | ||
| Q2 25 | 5.5% | 44.3% | ||
| Q1 25 | 7.7% | 41.8% | ||
| Q4 24 | 6.9% | 44.8% | ||
| Q3 24 | 5.6% | 44.8% | ||
| Q2 24 | 4.9% | 49.2% |
| Q1 26 | — | $0.50 | ||
| Q4 25 | $1.01 | $0.51 | ||
| Q3 25 | $0.73 | $0.51 | ||
| Q2 25 | $0.64 | $0.54 | ||
| Q1 25 | $0.85 | $0.51 | ||
| Q4 24 | $0.81 | $0.52 | ||
| Q3 24 | $0.62 | $0.53 | ||
| Q2 24 | $0.50 | $0.58 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $11.3M | $4.6M |
| Total DebtLower is stronger | $30.5M | — |
| Stockholders' EquityBook value | $195.7M | $4.4B |
| Total Assets | $381.1M | $9.4B |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.6M | ||
| Q4 25 | $11.3M | $5.0M | ||
| Q3 25 | $9.8M | $157.9M | ||
| Q2 25 | $38.9M | $6.0M | ||
| Q1 25 | $38.1M | $5.1M | ||
| Q4 24 | $44.9M | $8.7M | ||
| Q3 24 | $51.2M | $173.5M | ||
| Q2 24 | $59.5M | $2.1M |
| Q1 26 | — | — | ||
| 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 26 | — | $4.4B | ||
| Q4 25 | $195.7M | $4.4B | ||
| Q3 25 | $181.6M | $4.4B | ||
| Q2 25 | $170.5M | $4.4B | ||
| Q1 25 | $161.1M | $4.4B | ||
| Q4 24 | $153.5M | $4.4B | ||
| Q3 24 | $142.2M | $4.4B | ||
| Q2 24 | $133.0M | $4.2B |
| Q1 26 | — | $9.4B | ||
| Q4 25 | $381.1M | $9.4B | ||
| Q3 25 | $409.1M | $9.5B | ||
| Q2 25 | $343.0M | $9.1B | ||
| Q1 25 | $336.4M | $9.0B | ||
| Q4 24 | $352.1M | $8.9B | ||
| Q3 24 | $324.4M | $8.9B | ||
| Q2 24 | $303.9M | $8.7B |
| Q1 26 | — | — | ||
| 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× | — |
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 | $28.1M | $667.1M | ||
| Q3 25 | $13.3M | $218.3M | ||
| Q2 25 | $2.0M | $119.4M | ||
| Q1 25 | $2.2M | $203.3M | ||
| Q4 24 | $19.3M | $635.5M | ||
| Q3 24 | $4.9M | $206.6M | ||
| Q2 24 | $16.5M | $120.5M |
| 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 | 2.29× | 6.95× | ||
| Q3 25 | 1.52× | 2.25× | ||
| Q2 25 | 0.26× | 1.19× | ||
| Q1 25 | 0.22× | 2.11× | ||
| Q4 24 | 1.96× | 6.49× | ||
| Q3 24 | 0.66× | 2.11× | ||
| Q2 24 | 2.77× | 1.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
NNN
Segment breakdown not available.
