# Legence Class A Common stock (LGN.US)

Canonical: https://gigainvestors.com/s/LGN

Analysis as of: 2026-10-16T07:29:48.922Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $45.30 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

## Price story

Down 48% since Apr 2026 · "Legence Q2 Loss Widens On Impairment Charges; Raises FY26 Outlook" (nasdaq.com, Aug 2026)

Story as of 2026-10-16T09:59:04.012Z; price observation 2026-10-15.

- 2026-08-13: Legence Q2 Loss Widens On Impairment Charges; Raises FY26 Outlook ([nasdaq.com](https://www.nasdaq.com/articles/legence-q2-loss-widens-impairment-charges-raises-fy26-outlook))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in engineering & construction; annual sales are USD 2.6 billion.

- Source: https://www.sec.gov/Archives/edgar/data/2052568/000205256826000008/lgn-20251231.htm (filed 2026-03-30); FY2025: revenue 2550491000; grossProfit 535925000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); LGN.US: Legence Corp. provides engineering, installation, and maintenance services for mission-critical systems in buildings in the United States. The company operates through two segments, Engineering & Consulting, and Installation & Maintenance. The Engineering & Consulting segment designs HVAC and other MEP systems for buildings, develops strategies to help reduce energy usage and make buildings more sustainable and provides program and project management services for client's installation and retrofit projects. This segment also offers engineering & design and program and project management services. The Installation & Maintenance segment fabricates and installs HVAC systems, process piping and other MEP systems in new and existing industrial, commercial and institutional buildings and provides ongoing preventative and corrective maintenance services, emergency repair, and break-fix services, as well as facility energy analysis, automation, optimization, and system certification and testing. It serves data centers, technology, life sciences, healthcare, education, mixed-use, state and local government, and other markets. The company was founded in 1914 and is based in San Jose, California.

### Why customers stay

Margins ranged from 19.5% to 21% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-30); FY2023: grossProfit / revenue = 19.5%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-30); FY2024: grossProfit / revenue = 20.4%.

- Source: https://www.sec.gov/Archives/edgar/data/2052568/000205256826000008/lgn-20251231.htm (filed 2026-03-30); FY2025: grossProfit / revenue = 21%.

### Where the cash goes

Reinvests 99.6% of cash earnings; paid dividends in 3 of 4 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-30); FY2023: growth capex 0; upkeep 17073000; cash acquisitions 119882000; owner earnings 29702000. Growth capex plus acquisitions / owner earnings = 4.03615918119992.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-30); FY2024: growth capex 0; upkeep 19008000; cash acquisitions 225246000; owner earnings 101559000. Growth capex plus acquisitions / owner earnings = 2.217883200898.

- Source: https://www.sec.gov/Archives/edgar/data/2052568/000205256826000008/lgn-20251231.htm (filed 2026-03-30); FY2025: growth capex 0; upkeep 37940000; cash acquisitions 16497000; owner earnings 16568000. Growth capex plus acquisitions / owner earnings = 0.9957146306132303.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-30); Dividend observations: [[2022,268000],[2023,1527000],[2024,301614000],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 0.3% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); LGN.US SharesStats.PercentInsiders = 0.25 percentage points; cache date 2026-10-16.

### What the price says

The price is 1.1 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-30); Closing price 45.3 USD; reporting-to-trading FX 1; FY2025 annual sales per share 42.951297553089375; price multiple 1.054682921837403. FY2025 cash earnings/share 0.27901180512285073. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2025-09: $30.81 per share

- 2025-10: $41.37 per share

- 2025-11: $45.98 per share

- 2025-12: $43.04 per share

- 2026-01: $46.91 per share

- 2026-02: $58.05 per share

- 2026-03: $56.46 per share

- 2026-04: $86.96 per share

- 2026-05: $83.74 per share

- 2026-06: $85.23 per share

- 2026-07: $63.93 per share

- 2026-08: $53.57 per share

- 2026-09: $53.68 per share

- 2026-10: $45.30 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/2052568/000205256826000008/lgn-20251231.htm); period 2025-12-31, filed 2026-03-30.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.