LMB vs. GVA

Last updated Jun 3, 2026

LMB (Limbach Holdings, Inc.) and GVA (Granite Construction Incorporated) are both stocks. Both operate in the Engineering & Construction industry within the Industrials sector. Over the past 10 years, LMB returned 23.16%/yr vs 13.74%/yr for GVA. At a 0.24 correlation, their price movements are largely independent.

Performance

LMB vs. GVA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Limbach Holdings, Inc. (LMB) and Granite Construction Incorporated (GVA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LMB achieves a 2.97% return, which is significantly lower than GVA's 18.68% return. Over the past 10 years, LMB has outperformed GVA with an annualized return of 23.16%, while GVA has yielded a comparatively lower 13.74% annualized return.

LMB

• 1D: -2.11%
• 1M: -19.17%
• YTD: 2.97%
• 6M: 16.60%
• 1Y: -39.80%
• 3Y*: 55.04%
• 5Y*: 53.88%
• 10Y*: 23.16%

GVA

• 1D: 0.16%
• 1M: -1.92%
• YTD: 18.68%
• 6M: 28.73%
• 1Y: 55.71%
• 3Y*: 53.93%
• 5Y*: 29.01%
• 10Y*: 13.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

LMB vs. GVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMB Limbach Holdings, Inc.	2.97%	-8.99%	88.12%	336.79%	15.67%	-27.01%	226.19%	2.72%	-73.39%	-1.91%
GVA Granite Construction Incorporated	18.68%	32.23%	73.75%	46.84%	-7.82%	46.80%	-0.65%	-30.28%	-35.80%	16.45%

Correlation

The correlation between LMB and GVA is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 22, 2016	0.24

The correlation between LMB and GVA shifts across timeframes, from 0.24 (all time) to 0.43 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap LMB : $967.34M GVA : $5.95B
EPS LMB : $2.75 GVA : $3.65
PE Ratio LMB : 29.19 GVA : 37.46
PEG Ratio LMB : 0.40 GVA : 0.16
PS Ratio LMB : 1.49 GVA : 1.49
PB Ratio LMB : 4.93 GVA : 5.77
Total Revenue (TTM) LMB : $652.56M GVA : $4.64B
Gross Profit (TTM) LMB : $163.77M GVA : $737.27M
EBITDA (TTM) LMB : $58.72M GVA : $472.98M

Return for Risk

LMB vs. GVA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LMB

LMB Risk / Return Rank: 17
LMB Sharpe Ratio Rank: 14
LMB Sortino Ratio Rank: 19
LMB Omega Ratio Rank: 18
LMB Calmar Ratio Rank: 16
LMB Martin Ratio Rank: 21

GVA

GVA Risk / Return Rank: 88
GVA Sharpe Ratio Rank: 88
GVA Sortino Ratio Rank: 91
GVA Omega Ratio Rank: 87
GVA Calmar Ratio Rank: 86
GVA Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LMB vs. GVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Limbach Holdings, Inc. (LMB) and Granite Construction Incorporated (GVA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	LMB	GVA	Difference
Sharpe ratio Return per unit of total volatility	-0.61	2.14	-2.75
Sortino ratio Return per unit of downside risk	-0.53	3.38	-3.91
Omega ratio Gain probability vs. loss probability	0.92	1.40	-0.47
Calmar ratio Return relative to maximum drawdown	-0.67	3.65	-4.32
Martin ratio Return relative to average drawdown	-0.98	10.39	-11.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LMB vs. GVA - Sharpe Ratio Comparison

The current LMB Sharpe Ratio is -0.61, which is lower than the GVA Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of LMB and GVA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LMB	GVA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.61	2.14	-2.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.98	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.33	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.26	+0.11

Drawdowns

LMB vs. GVA - Drawdown Comparison

The maximum LMB drawdown since its inception was -84.10%, roughly equal to the maximum GVA drawdown of -84.72%. Use the drawdown chart below to compare losses from any high point for LMB and GVA.

Drawdown Indicators

	LMB	GVA	Difference
Max Drawdown Largest peak-to-trough decline	-84.10%	-84.72%	+0.62%
Max Drawdown (1Y) Largest decline over 1 year	-55.92%	-14.69%	-41.23%
Max Drawdown (3Y) Largest decline over 3 years	-55.92%	-29.06%	-26.86%
Max Drawdown (5Y) Largest decline over 5 years	-55.92%	-39.44%	-16.48%
Max Drawdown (10Y) Largest decline over 10 years	-84.10%	-84.72%	+0.62%
Current Drawdown Current decline from peak	-46.39%	-4.46%	-41.93%
Average Drawdown Average peak-to-trough decline	-31.60%	-31.17%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.11%	5.16%	+32.95%

Volatility

LMB vs. GVA - Volatility Comparison

Limbach Holdings, Inc. (LMB) has a higher volatility of 45.01% compared to Granite Construction Incorporated (GVA) at 7.77%. This indicates that LMB's price experiences larger fluctuations and is considered to be riskier than GVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LMB	GVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	45.01%	7.77%	+37.24%
Volatility (6M) Calculated over the trailing 6-month period	56.25%	20.90%	+35.35%
Volatility (1Y) Calculated over the trailing 1-year period	65.61%	26.20%	+39.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.60%	29.83%	+32.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.22%	41.33%	+21.89%

Dividends

LMB vs. GVA - Dividend Comparison

LMB has not paid dividends to shareholders, while GVA's dividend yield for the trailing twelve months is around 0.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GVA Granite Construction Incorporated	0.38%	0.45%	0.59%	1.02%	1.48%	1.34%	1.95%	1.88%	1.29%	0.82%	0.95%	1.21%
LMB Limbach Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

LMB vs. GVA - Profitability Comparison

The chart below illustrates the profitability comparison between Limbach Holdings, Inc. and Granite Construction Incorporated over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

LMB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Limbach Holdings, Inc. reported a gross profit of 31.17M and revenue of 138.86M. Therefore, the gross margin over that period was 22.5%.

GVA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Granite Construction Incorporated reported a gross profit of 109.91M and revenue of 912.47M. Therefore, the gross margin over that period was 12.0%.

LMB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Limbach Holdings, Inc. reported an operating income of 1.13M and revenue of 138.86M, resulting in an operating margin of 0.8%.

GVA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Granite Construction Incorporated reported an operating income of -31.05M and revenue of 912.47M, resulting in an operating margin of -3.4%.

LMB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Limbach Holdings, Inc. reported a net income of 4.38M and revenue of 138.86M, resulting in a net margin of 3.2%.

GVA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Granite Construction Incorporated reported a net income of -41.70M and revenue of 912.47M, resulting in a net margin of -4.6%.

Frequently Asked Questions

Can I hold both LMB and GVA in my portfolio?

LMB and GVA have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LMB or GVA?

LMB has higher volatility (45.01%) compared to GVA (7.77%). In terms of maximum drawdown, LMB dropped -84.10% vs GVA's -84.72%.

Which has better risk-adjusted returns?

GVA currently has the higher Sharpe Ratio (2.14 vs -0.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.