Is Limbach Holdings, Inc. overvalued or undervalued?

As of 11 August 2025, the valuation grade for Limbach Holdings, Inc. has moved from very attractive to expensive, indicating a shift towards overvaluation. The company appears overvalued based on its high P/E ratio of 43, a Price to Book Value of 9.76, and an EV to EBITDA of 27.74, all of which exceed typical industry benchmarks. In comparison, peers such as Sterling Infrastructure, Inc. and IES Holdings, Inc. have lower P/E ratios of 28.27 and 27.82, respectively, suggesting that Limbach is trading at a premium relative to its competitors.
Despite the recent stock price decline, Limbach has shown strong performance over the longer term, with a 3-year return of 1302.72% compared to the S&P 500's 70.41%, reinforcing its historical growth potential. However, the current valuation metrics indicate that investors may be paying too much for the stock at this time.