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Side-by-side financial comparison of Limbach Holdings, Inc. (LMB) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
Limbach Holdings, Inc. is the larger business by last-quarter revenue ($138.9M vs $91.6M, roughly 1.5× SHENANDOAH TELECOMMUNICATIONS CO). Limbach Holdings, Inc. runs the higher net margin — 3.2% vs -5.9%, a 9.0% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs 4.3%). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs 6.6%).
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
LMB vs SHEN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $138.9M | $91.6M |
| Net Profit | $4.4M | $-5.4M |
| Gross Margin | 22.4% | — |
| Operating Margin | 0.8% | -1.0% |
| Net Margin | 3.2% | -5.9% |
| Revenue YoY | 4.3% | 7.2% |
| Net Profit YoY | — | -95.8% |
| EPS (diluted) | $0.36 | $-0.13 |
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 | $138.9M | — | ||
| Q4 25 | $186.9M | $91.6M | ||
| Q3 25 | $184.6M | $89.8M | ||
| Q2 25 | $142.2M | $88.6M | ||
| Q1 25 | $133.1M | $87.9M | ||
| Q4 24 | $143.7M | $85.4M | ||
| Q3 24 | $133.9M | $87.6M | ||
| Q2 24 | $122.2M | $85.8M |
| Q1 26 | $4.4M | — | ||
| Q4 25 | $12.3M | $-5.4M | ||
| Q3 25 | $8.8M | $-9.4M | ||
| Q2 25 | $7.8M | $-9.0M | ||
| Q1 25 | $10.2M | $-9.1M | ||
| Q4 24 | $9.8M | $-2.7M | ||
| Q3 24 | $7.5M | $-5.3M | ||
| Q2 24 | $6.0M | $-12.9M |
| Q1 26 | 22.4% | — | ||
| 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 | 0.8% | — | ||
| Q4 25 | 9.4% | -1.0% | ||
| Q3 25 | 7.2% | -8.0% | ||
| Q2 25 | 7.5% | -10.3% | ||
| Q1 25 | 5.9% | -6.9% | ||
| Q4 24 | 9.1% | -6.7% | ||
| Q3 24 | 8.1% | -4.8% | ||
| Q2 24 | 6.7% | -18.5% |
| Q1 26 | 3.2% | — | ||
| Q4 25 | 6.6% | -5.9% | ||
| Q3 25 | 4.8% | -10.5% | ||
| Q2 25 | 5.5% | -10.2% | ||
| Q1 25 | 7.7% | -10.4% | ||
| Q4 24 | 6.9% | -3.2% | ||
| Q3 24 | 5.6% | -6.0% | ||
| Q2 24 | 4.9% | -15.0% |
| Q1 26 | $0.36 | — | ||
| Q4 25 | $1.01 | $-0.13 | ||
| Q3 25 | $0.73 | $-0.20 | ||
| Q2 25 | $0.64 | $-0.19 | ||
| Q1 25 | $0.85 | $-0.19 | ||
| Q4 24 | $0.81 | $-0.34 | ||
| Q3 24 | $0.62 | $-0.13 | ||
| Q2 24 | $0.50 | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $15.8M | $27.3M |
| Total DebtLower is stronger | $56.6M | $642.4M |
| Stockholders' EquityBook value | $196.3M | $880.8M |
| Total Assets | $377.0M | $1.9B |
| Debt / EquityLower = less leverage | 0.29× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8M | — | ||
| Q4 25 | $11.3M | $27.3M | ||
| Q3 25 | $9.8M | $22.6M | ||
| Q2 25 | $38.9M | $29.1M | ||
| Q1 25 | $38.1M | $87.5M | ||
| Q4 24 | $44.9M | $46.3M | ||
| Q3 24 | $51.2M | $43.1M | ||
| Q2 24 | $59.5M | $43.8M |
| Q1 26 | $56.6M | — | ||
| Q4 25 | $30.5M | $642.4M | ||
| Q3 25 | $56.3M | $535.4M | ||
| Q2 25 | $28.4M | $513.1M | ||
| Q1 25 | $23.7M | $515.8M | ||
| Q4 24 | $23.6M | $418.0M | ||
| Q3 24 | $20.5M | $345.2M | ||
| Q2 24 | $19.7M | $297.4M |
| Q1 26 | $196.3M | — | ||
| Q4 25 | $195.7M | $880.8M | ||
| Q3 25 | $181.6M | $892.7M | ||
| Q2 25 | $170.5M | $902.0M | ||
| Q1 25 | $161.1M | $910.5M | ||
| Q4 24 | $153.5M | $918.6M | ||
| Q3 24 | $142.2M | $925.4M | ||
| Q2 24 | $133.0M | $933.1M |
| Q1 26 | $377.0M | — | ||
| Q4 25 | $381.1M | $1.9B | ||
| Q3 25 | $409.1M | $1.9B | ||
| Q2 25 | $343.0M | $1.8B | ||
| Q1 25 | $336.4M | $1.8B | ||
| Q4 24 | $352.1M | $1.7B | ||
| Q3 24 | $324.4M | $1.7B | ||
| Q2 24 | $303.9M | $1.7B |
| Q1 26 | 0.29× | — | ||
| Q4 25 | 0.16× | 0.73× | ||
| Q3 25 | 0.31× | 0.60× | ||
| Q2 25 | 0.17× | 0.57× | ||
| Q1 25 | 0.15× | 0.57× | ||
| Q4 24 | 0.15× | 0.46× | ||
| Q3 24 | 0.14× | 0.37× | ||
| Q2 24 | 0.15× | 0.32× |
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 | — | $28.8M |
| Free Cash FlowOCF − Capex | — | $-78.6M |
| FCF MarginFCF / Revenue | — | -85.8% |
| Capex IntensityCapex / Revenue | — | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $28.1M | $28.8M | ||
| Q3 25 | $13.3M | $30.7M | ||
| Q2 25 | $2.0M | $20.9M | ||
| Q1 25 | $2.2M | $20.5M | ||
| Q4 24 | $19.3M | $20.6M | ||
| Q3 24 | $4.9M | $24.3M | ||
| Q2 24 | $16.5M | $2.5M |
| Q1 26 | — | — | ||
| Q4 25 | $27.9M | $-78.6M | ||
| Q3 25 | $12.8M | $-51.4M | ||
| Q2 25 | $1.2M | $-65.3M | ||
| Q1 25 | $11.0K | $-62.7M | ||
| Q4 24 | $18.0M | $-72.0M | ||
| Q3 24 | $4.6M | $-51.3M | ||
| Q2 24 | $13.2M | $-78.3M |
| Q1 26 | — | — | ||
| Q4 25 | 14.9% | -85.8% | ||
| Q3 25 | 7.0% | -57.2% | ||
| Q2 25 | 0.8% | -73.7% | ||
| Q1 25 | 0.0% | -71.3% | ||
| Q4 24 | 12.5% | -84.3% | ||
| Q3 24 | 3.4% | -58.5% | ||
| Q2 24 | 10.8% | -91.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 117.2% | ||
| Q3 25 | 0.3% | 91.4% | ||
| Q2 25 | 0.6% | 97.3% | ||
| Q1 25 | 1.7% | 94.7% | ||
| Q4 24 | 0.9% | 108.4% | ||
| Q3 24 | 0.3% | 86.2% | ||
| Q2 24 | 2.7% | 94.2% |
| Q1 26 | — | — | ||
| 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× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LMB
| ODR | $99.8M | 72% |
| GCR | $39.0M | 28% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
