Tearsheet

Legence (LGN)

Market Price (6/14/2026): $86.1 | Market Cap: $5.8 BilSector: Industrials | Industry: Construction & Engineering

Legence (LGN)

Market Price (6/14/2026): $86.1
Market Cap: $5.8 Bil
Sector: Industrials
Industry: Construction & Engineering

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 44%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%

Attractive yield
FCF Yield is 5.1%

Megatrend and thematic drivers
Megatrends include Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include Renewable Integration in Buildings, Building Management Systems, Show more.

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 109x

Stock price has recently run up significantly
6M Rtn6 month market price return is 106%, 12M Rtn12 month market price return is 182%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 79%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.7%

Key risks
LGN key risks include [1] high leverage and a history of weak profitability, Show more.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 44%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
2	Attractive yield FCF Yield is 5.1%
3	Megatrend and thematic drivers Megatrends include Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include Renewable Integration in Buildings, Building Management Systems, Show more.
4	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 109x
5	Stock price has recently run up significantly 6M Rtn6 month market price return is 106%, 12M Rtn12 month market price return is 182%
6	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 79%
7	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.7%
8	Key risks LGN key risks include [1] high leverage and a history of weak profitability, Show more.

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	6/14/26	2025	2024	2023	2022
Share Price			$86.10	$43.04	�	�	�
Mkt Cap ($ Bil)			5.8	2.7	-	-	-
+ Debt ($ Bil)			1.2	1.2	1.7	0.0	0.0
- Cash ($ Bil)			0.2	0.2	0.1	0.0	0.0
TEV ($ Bil)			6.7	3.9
Valuation Ratios
P/S	1.2	1.4	1.9	1.0	-	-	-
P/EBIT	15.3	17.4	108.9	57.2	-	-	-
P/E	48.4	67.1	-257.3	-44.6	-	-	-
P/FCF	—	—	19.5	12.2	-	-	-
Sector Ratios (* = sector average)
P/S *			1.9	1.6	1.6	1.4	1.2
P/EBIT *			12.5	12.0	11.9	11.5	9.5
P/E *			17.8	16.9	17.1	15.5	12.6
P/FCF *			13.8	12.7	14.2	11.7	9.1

FYE: 12/31	Forward FYE		Now
	2027	2026	6/14/26
Share Price			$86.10
Mkt Cap ($ Bil)			5.8
+ Debt ($ Bil)			1.2
- Cash ($ Bil)			0.2
TEV ($ Bil)			6.7
Valuation Ratios
P/S	1.2	1.4	1.9
P/EBIT	15.3	17.4	108.9
P/E	48.4	67.1	-257.3
P/FCF	—	—	19.5
Sector Ratios (* = sector average)
P/S *			1.9
P/EBIT *			12.5
P/E *			17.8
P/FCF *			13.8

FYE: 12/31	LGN [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$3.1 Bil	—
FY 2026 Sales	$4.3 Bil	—
FY 2027 Sales	$4.9 Bil	—
FY 2026 Sales Growth	38.2%	—
FY 2027 Sales Growth	14.0%	7.8%
EARNINGS
LTM Net Income (GAAP) [3]	$-22.5 Mil	—
FY 2026 Net Income (Non-GAAP)	$86.2 Mil	—
FY 2027 Net Income (Non-GAAP)	$119.4 Mil	—
FY 2027 Net Income Growth	38.5%	14.8%
FY 2026 EPS (Non-GAAP)	$1.44	—
FY 2027 EPS (Non-GAAP)	$2.02	—
FY 2027 EPS Growth	40.4%	—
VALUATION
FY 2026 P/S	1.4	3.3
FY 2027 P/S	1.2	—
FY 2026 P/E	67.1	20.1
FY 2027 P/E	48.4	—

[1] LGN forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	LGN	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	3.1
Rev Chg Q	105.1%	8.8%
Rev Chg LTM	44.3%	7.4%
Rev Chg 3Y Avg	44.3%	5.8%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	-0.0
Op Mgn LTM	3.6%	18.4%
CFO/Rev LTM	11.3%	21.3%
Net Inc Mgn	-0.7%	13.0%
VALUATION	MODERATE
P/S	1.9	3.3
P/CFO	16.6	15.2
P/FCF	19.5	19.7
P/E	-257.3	24.2
STABILITY	GOOD
Debt/Equity	0.20	0.21
Cash/Assets	0.07	0.07

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Metric	Value	Date	Source
Backlog	2.8 billion	6302025	Link
Projects Completed Annually	more than 50,000	11072025	Link
Number of MEP Engineers and Consultants	over 1,200	11072025	Link
Number of Technicians and Craftspeople	over 3,400	11072025	Link
Number of Offices	more than 70	11072025	Link
Percentage of Nasdaq-100 Companies as Clients	more than 60%	10302025	Link
Square Feet of Net Zero Buildings Designed	more than 10 million	11072025	Link
Megawatts of Distributed Generation Designed	more than 140	11072025	Link
Square Feet of Buildings Under Sustainability Advisory	more than 5.5 billion	11072025	Link
Number of Acquisitions	at least 23	9032025	Link
Percentage of Revenue from Retrofits, Upgrades, and Maintenance	67.5%	9032025	Link

Price Chart

Upcoming
6/26/2026	Earnings Release	Rev: $1.0 Bil (E) EPS: $0.38 (E)

Why The Stock Moved

Qualitative Assessment

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Updated on 6/11/2026

Legence (LGN) stock has gained about 50% since 2/28/2026 because of the following key factors:

1. Exceptional Revenue Growth Driven by Strategic Markets.

Legence reported a significant surge in revenue during fiscal Q1 2026 (ended March 31, 2026), with quarterly revenues more than doubling, increasing by 105% year-over-year to $1.04 billion, surpassing analyst consensus estimates. This robust growth was largely attributed to its Installation & Maintenance segment, which experienced a 141.9% year-over-year revenue increase, driven by strong demand from data centers and technology sectors, including critical infrastructure for AI-focused facilities.

2. Record Backlog and Increased Full-Year Guidance.

The company achieved a record total backlog and awarded contracts of $5.38 billion at the close of fiscal Q1 2026, marking a 104% increase from the prior year. This substantial project pipeline provided strong revenue visibility and prompted management to raise its full-year 2026 revenue guidance to between $4.1 billion and $4.3 billion (up from a previous range of $3.7 billion to $3.9 billion) and non-GAAP Adjusted EBITDA guidance to between $470 million and $490 million (up from $400 million to $430 million).

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Stock Movement Drivers

Fundamental Drivers

The 48.1% change in LGN stock from 2/28/2026 to 6/13/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).

(LTM values as of)	2282026	6132026	Change
Stock Price ($)	58.05	86.00	48.1%
Change Contribution By:
Total Revenues ($ Mil)	�	3,082	0.0%
P/S Multiple	�	1.9	0.0%
Shares Outstanding (Mil)	102	67	51.5%
Cumulative Contribution			0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/13/2026

	Return	Correlation
LGN	48.1%
Market (SPY)	8.4%	56.4%
Sector (XLI)	-0.3%	57.6%

Fundamental Drivers

The 87.0% change in LGN stock from 11/30/2025 to 6/13/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).

(LTM values as of)	11302025	6132026	Change
Stock Price ($)	45.98	86.00	87.0%
Change Contribution By:
Total Revenues ($ Mil)	�	3,082	0.0%
P/S Multiple	�	1.9	0.0%
Shares Outstanding (Mil)	102	67	51.5%
Cumulative Contribution			0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/13/2026

	Return	Correlation
LGN	87.0%
Market (SPY)	9.2%	51.2%
Sector (XLI)	15.3%	43.9%

Fundamental Drivers

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Market Drivers

5/31/2025 to 6/13/2026

	Return	Correlation
LGN
Market (SPY)	27.3%	45.9%
Sector (XLI)	25.0%	36.5%

Fundamental Drivers

null
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Market Drivers

5/31/2023 to 6/13/2026

	Return	Correlation
LGN
Market (SPY)	84.5%	45.9%
Sector (XLI)	90.2%	36.5%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
LGN Return	-	-	-	-	41%	98%	179%
Peers Return	46%	14%	28%	27%	31%	34%	376%
S&P 500 Return	27%	-19%	24%	23%	16%	8%	97%
Monthly Win Rates [3]
LGN Win Rate	-	-	-	-	75%	67%
Peers Win Rate	56%	60%	63%	53%	57%	63%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
LGN Max Drawdown	-	-	-	-	-	-21%
Peers Max Drawdown	-27%	-28%	-27%	-29%	-38%	-25%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: DY, FLR, GVA, SHIM, PWR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/12/2026 (YTD)

LGN has limited trading history. Below is the Industrials sector ETF (XLI) in its place.

Event	XLI	S&P 500
2025 US Tariff Shock
% Loss	-15.8%	-18.8%
% Gain to Breakeven	18.8%	23.1%
Time to Breakeven	34 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-11.7%	-9.5%
% Gain to Breakeven	13.2%	10.5%
Time to Breakeven	45 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-20.1%	-24.5%
% Gain to Breakeven	25.1%	32.4%
Time to Breakeven	125 days	427 days
2020 COVID-19 Crash
% Loss	-41.6%	-33.7%
% Gain to Breakeven	71.2%	50.9%
Time to Breakeven	231 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-23.7%	-19.2%
% Gain to Breakeven	31.1%	23.8%
Time to Breakeven	120 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-11.1%	-12.2%
% Gain to Breakeven	12.5%	13.9%
Time to Breakeven	51 days	62 days

Compare to DY, FLR, GVA, MGN, PWR

In The Past

State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

LGN has limited trading history. Below is the Industrials sector ETF (XLI) in its place.

Event	XLI	S&P 500
2022 Inflation Shock & Fed Tightening
% Loss	-20.1%	-24.5%
% Gain to Breakeven	25.1%	32.4%
Time to Breakeven	125 days	427 days
2020 COVID-19 Crash
% Loss	-41.6%	-33.7%
% Gain to Breakeven	71.2%	50.9%
Time to Breakeven	231 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-23.7%	-19.2%
% Gain to Breakeven	31.1%	23.8%
Time to Breakeven	120 days	105 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-22.5%	-17.9%
% Gain to Breakeven	29.0%	21.8%
Time to Breakeven	114 days	123 days
2008-2009 Global Financial Crisis
% Loss	-60.5%	-53.4%
% Gain to Breakeven	153.2%	114.4%
Time to Breakeven	700 days	1085 days

Compare to DY, FLR, GVA, MGN, PWR

In The Past

State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Legence (LGN)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

We are a leading provider of engineering, installation and maintenance services for mission-critical systems in buildings. We focus on high-growth sectors that have technically demanding buildings, including technology, life sciences, healthcare and education. We count more than 60% of the companies in the Nasdaq-100 Index as clients. Our business is growing rapidly as data centers, manufacturers, pharmaceutical companies, hospitals, schools and universities make investments in both new and existing facilities to support growing demand for their products and services, reduce energy costs and increase resiliency. From 2021 to 2024, our revenues grew at a compound annual growth rate of approximately 39% and, after giving pro forma effect to acquisitions we made over that period, 16%. In 2024, we generated more than half of our revenues from “high growth industries,” which we define as clients operating in the data center and technology and life sciences and health care end-markets. As of June 30, 2025, we had $2.8 billion of backlog and awarded contracts, representing an increase of 29% over the same date last year. We specialize in designing, fabricating and installing complex HVAC, process piping and other mechanical, electrical and plumbing (“MEP”) systems for new facilities and upgrading HVAC, lighting and building controls in existing facilities to make them more energy efficient and sustainable. In 2024, we generated 32.5% of our revenues from new building projects and 67.5% of our revenues from retrofits, upgrades and maintenance for existing buildings. Our team includes approximately 1,200 MEP engineers and energy consultants, and approximately 3,400 HVAC and plumbing service technicians, fitters, electricians and sheet metal workers, of which approximately 570 are responsible for providing maintenance services to over 5,900 clients. We completed more than 50,000 jobs each year for clients across the United States during the period from 2021 through 2024. We operate through two complementary segments: Engineering & Consulting and Installation & Maintenance. Our 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 clients’ installation and retrofit projects. From 2021 to 2024, our Engineering & Consulting segment revenues grew at a compound annual growth rate of approximately 83% and, after giving pro forma effect to acquisitions we made over that period, approximately 15%. We have completed over 30,000 jobs in our Engineering & Consulting segment since 2019. Our Engineering & Consulting segment generated 28.7% and 47.6% of our revenues and gross profit, respectively, in 2024. Our 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 for those systems. Some of our installation clients choose to co-locate our employees at their sites to perform renovation and upgrade services on an ongoing basis. We have had an on-site presence with some of our clients for more than 20 years. The preventative maintenance work we perform is recurring pursuant to annual or multi-year contracts. From 2021 to 2024, our Installation & Maintenance segment revenues grew at a compound annual growth rate of approximately 30% and, after giving pro forma effect to acquisitions we made over that period, approximately 16%. Our Installation & Maintenance segment generated 71.3% and 52.4% of our revenues and gross profit, respectively, in 2024. Approximately 25% of our revenues in 2024 were generated from clients that engaged us in both our Engineering & Consulting and Installation & Maintenance segments, after giving pro forma effect to acquisitions made over that period. From 2021 to 2024, our revenues that were generated from clients that engaged us in both segments grew at a compound annual growth rate of approximately 28%, after giving pro forma effect to acquisitions made over that period. Our revenues from clients that engaged us in both our Engineering & Consulting and Installation & Maintenance segments, after giving pro forma effect to acquisitions made as of December 31, 2024, were approximately $545 million, $463 million, $350 million and $260 million, respectively, for the years ended December 31, 2024, 2023, 2022 and 2021. Additionally, six of our top ten clients engaged us in both segments during the period from 2021 to 2024, after giving pro forma effect to acquisitions made over that period. We believe that providing a one-stop solution for engineering, installing and maintaining MEP systems results in lower total cost, fewer change orders and faster turnaround times for our clients and higher win rates, better customer retention, incremental margin and more recurring revenue for us. Our clients include large technology and industrial companies and public sector institutions who contract with us directly to provide services, as well as intermediaries such as architects and general contractors who subcontract MEP services to us as part of a larger project. We served approximately 19,000 clients from 2019 through 2024. In 2024, we generated less than 2% of our revenues from the federal government. Excluding maintenance contracts which can span multiple years, we typically complete most of our jobs within six months. Approximately 70% of our revenues over the period from 2021 to 2024 were from jobs that had contract prices of less than $10 million, after giving pro forma effect to acquisitions made over that period. Our largest client represented approximately 4% of our revenues over the period from 2021 to 2024, after giving pro forma effect to acquisitions made over that period. In certain cases, we manage third-party contractors on behalf of our clients and we may pass those costs on directly to our customers as a specific line item or incorporate them into our overall contract price for the job. In the years ended December 31, 2024 and 2023, respectively, we paid subcontractors approximately $350.7 million and $234.8 million, respectively, in connection with their work on our projects. We also frequently purchase certain equipment that we install in our clients’ buildings. We may pass the cost of equipment on directly to our customers as a specific line item or incorporate the cost into our overall contract price for the job. In the years ended December 31, 2024 and 2023, we spent approximately $457.3 million and $385.8 million, respectively, on equipment for our clients’ projects. Our principal executive offices are located at 1601 Las Plumas Avenue, San Jose, CA.

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Legence is like **a specialized Johnson Controls or Trane Technologies, focused on the full lifecycle (engineering, installation, maintenance) of mission-critical HVAC and MEP systems for facilities like data centers and hospitals.**

Legence is like **the 'Intel inside' for a building's vital systems, designing, installing, and maintaining the complex mechanical and electrical infrastructure of data centers and high-tech facilities.**

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Legence (LGN) provides the following major services:

Engineering & Consulting Services: Designs HVAC and other MEP systems, develops energy efficiency strategies, and offers sustainability consulting and project management.
MEP System Installation: Fabricates and installs complex mechanical, electrical, and plumbing (MEP) systems for new facilities and major system integrations.
Building System Retrofit & Upgrade: Enhances existing HVAC, lighting, and building controls to improve energy efficiency and sustainability.
Preventative & Corrective Maintenance: Provides ongoing maintenance and repair services for installed building systems, often through recurring contracts.

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Legence (LGN) primarily sells its services to other companies and institutions. Based on the provided background information, **no specific customer company names are disclosed.** However, Legence provides extensive details about the **types of organizations** that constitute its major customer base: * **Companies in High-Growth Industries:** These include clients operating in technically demanding sectors such as data centers, technology, life sciences, and healthcare. Notably, Legence states that it counts more than 60% of the companies in the Nasdaq-100 Index as clients. * **Public Sector Institutions:** Legence serves clients in education (e.g., schools and universities) and other public sector entities. * **Large Industrial Companies:** These clients engage Legence for complex MEP systems and related services. * **Intermediaries:** The company also works with intermediaries such as architects and general contractors who subcontract MEP services to Legence as part of larger projects. Legence serves a highly diversified customer base, with approximately 19,000 clients from 2019 through 2024, and its largest client representing approximately 4% of its revenues over the period from 2021 to 2024.

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Legence (LGN) Management Team:

Jeffrey Sprau, Chief Executive Officer
Jeffrey Sprau has served as the Chief Executive Officer of Legence Corp. since January 2025 and as a director of Legence Corp. since August 2025. He also served as Chief Executive Officer of Legence Parent LLC since October 2020. Prior to the formation of Legence Parent LLC, Mr. Sprau was the Chief Executive Officer of Therma, a Legence company, from April 2019. Before joining Therma, he served as President of BrandSafway from July 2017 to October 2018 and held various roles at Safway Group from January 2011 to June 2017, including President of the U.S. Division. He also worked at Johnson Controls in various capacities, including General Manager of its Wisconsin operations. Mr. Sprau began his career as a marketing engineer with Trane Technologies plc. He holds a Bachelor of Science in Industrial Engineering from Iowa State University and a Master of Business Administration from Mercer University's Stetson-Hatcher School of Business.

Stephen Butz, Chief Financial Officer
Stephen Butz joined Legence in 2021. His career began in corporate credit within the Commercial Banking industry, followed by eight years in Investment Banking as an equity research analyst covering the global energy industry. He transitioned to the offshore drilling industry, initially as a consultant, before joining a private company that he helped take public within its first year. He served as the CFO of this company for five years, overseeing M&A, Treasury, Investor Relations, Corporate Communications, and FP&A. Subsequently, Mr. Butz held the CFO position at two other publicly traded offshore drilling companies. He was also involved in forming and taking another company public in Norway and played a significant role in securing a multi-billion-dollar joint venture with Saudi Aramco.

Steve Hansen, Chief Operating Officer

Gregory Barnes, Chief Human Resources Officer

Bryce Seki, General Counsel & Secretary

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Key Risks for Legence (LGN)

Dependence on High-Growth Sectors and Economic Conditions: Legence's rapid growth and a significant portion of its revenue are directly tied to continued investments and expansion within its target high-growth industries, specifically data centers, technology, life sciences, and healthcare. A slowdown, contraction, or reduced capital expenditure in these sectors due to economic downturns or other factors could significantly diminish the demand for Legence's engineering, installation, and maintenance services, thereby impacting its growth and financial performance.
Skilled Labor Availability and Costs: Legence's operations heavily rely on a large and specialized workforce, including approximately 1,200 MEP engineers and energy consultants, and about 3,400 HVAC and plumbing service technicians, fitters, electricians, and sheet metal workers. A shortage of skilled labor, increased competition for qualified personnel, or rising labor costs could adversely affect the company's ability to undertake and complete projects, manage its backlog, and maintain profitability.
Supply Chain Disruptions and Volatile Equipment/Subcontractor Costs: The company incurs substantial costs for third-party subcontractors and equipment, with expenditures of approximately $350.7 million for subcontractors and $457.3 million for equipment in 2024. Disruptions in the supply chain, increased costs for materials and equipment, or volatility in subcontractor pricing and availability could lead to higher project costs, reduced margins, and potential delays in project completion, thereby negatively impacting Legence's financial results.

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Legence (LGN) operates in several significant addressable markets within the United States, primarily focusing on Mechanical, Electrical, and Plumbing (MEP) services, HVAC systems and services, building automation systems, energy efficiency retrofits, and facility management.

Addressable Markets for Legence's Main Products or Services (U.S. Region)

MEP Services Market: The United States MEP services market was valued at approximately USD 34.90 billion in 2025. It is projected to reach USD 34.61 billion in 2026 and grow to USD 47.05 billion by 2031, at a compound annual growth rate (CAGR) of 6.33% from 2026 to 2031.
HVAC Systems Market: The U.S. HVAC systems market size was estimated at USD 31.71 billion in 2025 and is projected to reach USD 54.02 billion by 2033, growing at a CAGR of 6.9% from 2026 to 2033.
HVAC Services Market: The U.S. HVAC services market was valued at USD 17.93 billion in 2025 and is estimated to grow to USD 25.35 billion by 2031, at a CAGR of 5.90% during the forecast period (2026-2031).
Building Automation Systems (BAS) / Intelligent Building Automation Technologies Market: The U.S. intelligent building automation technologies market size was valued at USD 28.90 billion in 2024, with a projected growth at a CAGR of 10.14% from 2025 to 2034, reaching USD 75.44 billion by 2034.
Energy Efficiency Retrofit Market (Commercial and Public Buildings): The North American energy retrofit market, which the U.S. heavily influences, accounted for approximately 47% of the global market. Based on a global valuation of USD 122.83 billion in 2025, the North American market would be approximately USD 57.73 billion in 2025.
Facility Management Market (Hard Services): The United States facility management market was valued at USD 365.93 billion in 2025. Hard services, which include maintenance and upkeep of critical infrastructure, dominated with a 58.45% share in 2025, equating to approximately USD 213.98 billion. This market is projected to reach USD 434.16 billion by 2031, growing at a CAGR of 2.89% from 2026 to 2031.

AI Analysis | Feedback

Legence (LGN) is expected to drive future revenue growth over the next 2-3 years through several key factors:

Continued Demand from High-Growth Industries: Legence is strategically positioned to benefit from sustained investment in mission-critical systems across high-growth sectors, including data centers, life sciences, and healthcare. The company's Q3 2025 earnings report highlighted strong demand in data centers, life sciences, and technology markets. RBC analysts project double-digit annual revenue and EBITDA growth through 2027, significantly supported by investments in data centers, which are anticipated to grow at a 26% compound annual growth rate from 2024–2028.
Strategic Acquisitions and Organic Expansion: Legence has a history of pursuing growth through strategic acquisitions and organic expansion to enhance its market position and service capabilities. The company has completed over 20 acquisitions since December 2020 and recently acquired The Bowers Group in early 2026, which is expected to further boost its scale and market presence. S&P Global Ratings anticipates revenue growth in 2025 driven by recent acquisitions, followed by solid organic growth in 2026.
Growing Backlog and Recurring Revenue: A substantial and increasing backlog of awarded contracts provides strong visibility for future revenue. As of Q3 2025, Legence's consolidated backlog reached $3.1 billion, representing a 29% year-over-year increase. Furthermore, the company benefits from a growing base of recurring maintenance and service revenue, which saw a 23% compound annual growth rate from 2021 to 2024 and now constitutes 15% of total revenue.
Rising Demand for Energy-Efficient and Sustainable Building Solutions: Legence is well-positioned to capitalize on the increasing focus on energy efficiency and sustainability in buildings. The company specializes in upgrading existing facilities to make them more energy efficient and sustainable. Analysts, such as Bernstein, identify the need for energy-efficient infrastructure and higher energy prices fueling retrofit activities as key structural drivers for Legence.

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Outbound Investments

Legence has engaged in significant acquisition activity from 2021 to 2024, contributing approximately 23% to its total revenue growth of 39% over that period.
Acquisitions played a substantial role in the growth of both the Engineering & Consulting segment and the Installation & Maintenance segment, contributing to the difference between reported and pro forma revenue growth rates.
The company consistently incorporates the pro forma effect of acquisitions when discussing financial performance and client relationships, indicating that strategic acquisitions are a key element of its growth strategy.

Interactive Breakdown

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Better Bets vs. Legence (LGN)

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Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Legence Stock Surges 27%, With A 6-Day Winning Spree	05/07/2026

	Title
0	ARTICLES

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Peer Comparisons

Peers to compare with:

Financials

	LGN	DY	FLR	GVA	SHIM	PWR	Median
Name	Legence	Dycom In.	Fluor	Granite .	Shimmick	Quanta S.
Mkt Price	86.00	469.00	50.76	140.60	3.66	707.74	113.30
Mkt Cap	5.8	14.1	7.4	6.1	-	106.0	7.4
Rev LTM	3,082	6,252	15,185	4,637	-	30,121	6,252
Op Inc LTM	110	483	-430	270	-	1,691	270
FCF LTM	297	440	-41	302	-	1,682	302
FCF 3Y Avg	-	191	204	251	-	1,484	228
CFO LTM	348	672	9	434	-	2,379	434
CFO 3Y Avg	-	437	308	385	-	2,080	411

Growth & Margins

	LGN	DY	FLR	GVA	SHIM	PWR	Median
Name	Legence	Dycom In.	Fluor	Granite .	Shimmick	Quanta S.
Rev Chg LTM	44.3%	29.8%	-8.3%	14.9%	-	21.1%	21.1%
Rev Chg 3Y Avg	-	16.6%	2.1%	13.1%	-	19.8%	14.9%
Rev Chg Q	105.1%	56.1%	-8.0%	30.4%	-	26.3%	30.4%
QoQ Delta Rev Chg LTM	20.9%	12.7%	-2.1%	4.8%	-	5.8%	5.8%
Op Inc Chg LTM	13.6%	40.2%	-197.5%	33.6%	-	21.6%	21.6%
Op Inc Chg 3Y Avg	-	24.2%	320.2%	113.0%	-	26.0%	69.5%
Op Mgn LTM	3.6%	7.7%	-2.8%	5.8%	-	5.6%	5.6%
Op Mgn 3Y Avg	-	7.6%	0.8%	4.1%	-	5.5%	4.8%
QoQ Delta Op Mgn LTM	-0.1%	0.1%	-1.0%	-0.1%	-	0.0%	-0.1%
CFO/Rev LTM	11.3%	10.7%	0.1%	9.4%	-	7.9%	9.4%
CFO/Rev 3Y Avg	-	8.3%	1.9%	9.3%	-	8.2%	8.2%
FCF/Rev LTM	9.6%	7.0%	-0.3%	6.5%	-	5.6%	6.5%
FCF/Rev 3Y Avg	-	3.4%	1.2%	6.1%	-	5.9%	4.6%

Valuation

	LGN	DY	FLR	GVA	SHIM	PWR	Median
Name	Legence	Dycom In.	Fluor	Granite .	Shimmick	Quanta S.
Mkt Cap	5.8	14.1	7.4	6.1	-	106.0	7.4
P/S	1.9	2.2	0.5	1.3	-	3.5	1.9
P/Op Inc	52.5	29.1	-17.2	22.7	-	62.7	29.1
P/EBIT	108.7	29.0	-27.2	18.2	-	61.0	29.0
P/E	-257.0	45.1	21.2	33.1	-	96.0	33.1
P/CFO	16.6	20.9	823.4	14.1	-	44.6	20.9
Total Yield	-0.4%	2.2%	4.7%	3.2%	-	1.1%	2.2%
Dividend Yield	0.0%	0.0%	0.0%	0.2%	-	0.1%	0.0%
FCF Yield 3Y Avg	-	2.5%	3.3%	7.0%	-	3.1%	3.2%
D/E	0.2	0.2	0.1	0.2	-	0.1	0.2
Net D/E	0.2	0.2	-0.4	0.2	-	0.1	0.2

Returns

	LGN	DY	FLR	GVA	SHIM	PWR	Median
Name	Legence	Dycom In.	Fluor	Granite .	Shimmick	Quanta S.
1M Rtn	-3.4%	4.0%	11.6%	-0.2%	-27.1%	-9.3%	-1.8%
3M Rtn	69.0%	35.1%	18.0%	16.6%	14.0%	26.6%	22.3%
6M Rtn	106.0%	35.6%	16.4%	22.4%	39.7%	61.6%	37.7%
12M Rtn	182.0%	101.2%	5.1%	58.6%	121.8%	97.7%	99.4%
3Y Rtn	182.0%	348.1%	72.6%	263.7%	-42.8%	283.9%	222.8%
1M Excs Rtn	-13.8%	5.6%	12.9%	-1.6%	-20.9%	-8.4%	-5.0%
3M Excs Rtn	56.9%	23.0%	5.9%	4.5%	2.0%	14.6%	10.3%
6M Excs Rtn	81.9%	23.9%	9.1%	18.7%	30.7%	45.3%	27.3%
12M Excs Rtn	158.6%	74.9%	-21.5%	33.4%	95.8%	75.7%	75.3%
3Y Excs Rtn	107.8%	253.4%	-3.8%	180.9%	-117.0%	212.2%	144.3%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

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Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022
Period End	3/31/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022
Filing Date	5/14/2026	3/30/2026	9/15/2025	2/14/2025	9/15/2025
Key Financials
Total Revenue	3,082	2,550	2,099	1,615	1,247
Gross Profit	610	536	431	315	234
EBITDA	180	161	179	107	69
Operating Income	110	93	91	49	9
Net Income	-22	-60	-29	-46	-82
EPS	-0.38	-0.57	-0.52	-0.83	-0.81
Growth Rates
Total Revenue Growth	44.3%	21.5%	29.9%	29.6%	-
EBITDA Growth	-5.4%	-10.3%	67.5%	54.7%	-
Operating Income Growth	13.6%	2.4%	85.7%	434.4%	-
Net Income Growth	35.4%	-109.4%	38.0%	44.1%	-
Margins
Gross Margin	19.8%	21.0%	20.5%	19.5%	18.7%
EBITDA Margin	5.8%	6.3%	8.5%	6.6%	5.6%
Operating Income Margin	3.6%	3.6%	4.3%	3.0%	0.7%
Net Income Margin	-0.7%	-2.3%	-1.4%	-2.8%	-6.6%
Cash & Debt
Total Cash	245	230	81	89	�
Total Debt	1,178	1,162	1,704	1,119	0
Net Debt / (Cash)	933	931	1,623	1,030	�
Cash Flows & CapEx
Net Cash from Operations	348	257	29	34	27
Total CapEx	-50	-38	-19	-17	-26
Free Cash from Operations	297	219	10	17	1
Returns to Shareholders
Dividends	0	-0	302	2	0
Share Repurchases	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1
Period End	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024
Filing Date	5/14/2026	3/30/2026	11/14/2025	9/15/2025	7/15/2025	9/15/2025	11/14/2025	9/15/2025	7/15/2025
Key Financials Quarterly
Total Revenue	1,038	738	708	599	506	548	561	521	469
Ebitda	63	-4	60	61	44	33	56	57	33
Operating Income	33	8	38	31	16	23	26	31	10
Net Income	16	-33	-1	-5	-21	-19	-1	6	-15
EPS	0.24	-0.55	-0.02	-0.05	-0.39	-0.18	-0.01	0.06	-0.15
Key Financials TTM
Total Revenue TTM	3,082	2,550	2,361	2,214	2,136	2,099	-	-	-
Ebitda TTM	180	161	198	194	191	179	-	-	-
Operating Income TTM	110	93	108	96	97	91	-	-	-
Net Income TTM	-22	-60	-46	-46	-35	-29	-	-	-
Growth Rates Quarterly
Total Revenue Growth	105.1%	34.6%	26.2%	15.0%	7.9%	-	-	-	-
EBITDA Growth	44.2%	-112.0%	6.9%	5.8%	34.3%	-	-	-	-
Operating Income Growth	105.7%	-66.2%	46.8%	-1.4%	60.2%	-	-	-	-
Net Income Growth	175.9%	-74.9%	46.8%	-185.1%	-41.8%	-	-	-	-
Margins Quarterly
EBITDA Margin	6.1%	-0.5%	8.5%	10.2%	8.7%	6.0%	10.0%	11.0%	7.0%
Operating Income Margin	3.2%	1.1%	5.4%	5.2%	3.2%	4.3%	4.6%	6.0%	2.2%
Net Income Margin	1.6%	-4.4%	-0.1%	-0.9%	-4.2%	-3.4%	-0.2%	1.2%	-3.2%
Cash & Debt
Total Cash	245	230	176	98	89	81	-	-	-
Total Debt	1,178	1,162	942	1,040	1,703	1,704	0	0	0
Net Debt / (Cash)	933	931	766	941	1,614	1,623	-	-	-
Cash Flows Quarterly
FCF from Operations	120	95	100	33	29	6	42	-51	33
Cash Flows TTM
FCF from Operations TTM	348	257	168	110	26	29	-	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	300	0	1	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	7.7%	1.6%	0.9%	7.7%	3.4%	3.9%	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	6.4%	4.8%	7.6%	6.0%	5.1%	4.8%	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022
Installation & Maintenance	1,824	1,497	1,189	918
Engineering & Consulting	726	602	426	329
Total	2,550	2,099	1,615	1,247

	1M	2M	3M	6M	1Y	3Y
Beta	2.85	2.49	2.21	2.62	0.60	0.05
Up Beta	2.47	3.17	2.68	2.73	0.82	1.53
Down Beta	4.57	5.33	2.86	3.15	-1.42	1.00
Up Capture	116%	236%	261%	435%	332%	31%
Bmk +ve Days	13	28	36	67	141	432
Stock +ve Days	10	25	37	73	103	103
Down Capture	439%	45%	130%	165%	111%	56%
Bmk -ve Days	7	13	27	57	109	318
Stock -ve Days	10	16	26	51	75	75

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with LGN
LGN	183.1%	71.6%	2.24	-
Sector ETF (XLI)	23.9%	16.2%	1.14	36.5%
Equity (SPY)	24.9%	12.3%	1.52	45.9%
Gold (GLD)	25.5%	27.4%	0.81	26.9%
Commodities (DBC)	30.1%	19.0%	1.25	-4.2%
Real Estate (VNQ)	13.5%	13.5%	0.69	17.4%
Bitcoin (BTCUSD)	-41.7%	42.2%	-1.16	23.1%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with LGN
LGN	23.1%	71.6%	2.24	-
Sector ETF (XLI)	12.7%	17.5%	0.56	36.5%
Equity (SPY)	13.5%	17.1%	0.61	45.9%
Gold (GLD)	16.8%	18.2%	0.75	26.9%
Commodities (DBC)	8.4%	19.4%	0.33	-4.2%
Real Estate (VNQ)	2.8%	18.8%	0.05	17.4%
Bitcoin (BTCUSD)	13.6%	54.4%	0.44	23.1%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with LGN
LGN	10.9%	71.6%	2.24	-
Sector ETF (XLI)	14.1%	20.0%	0.62	36.5%
Equity (SPY)	15.3%	17.9%	0.73	45.9%
Gold (GLD)	12.5%	16.1%	0.64	26.9%
Commodities (DBC)	6.7%	18.0%	0.29	-4.2%
Real Estate (VNQ)	5.7%	20.7%	0.24	17.4%
Bitcoin (BTCUSD)	60.3%	66.8%	1.00	23.1%

Short Interest

Short Interest: As Of Date	5292026
Short Interest: Shares Quantity	3.9 Mil
Short Interest: % Change Since 5152026	14.5%
Average Daily Volume	1.3 Mil
Days-to-Cover Short Interest	3
Basic Shares Quantity	67.2 Mil
Short % of Basic Shares	5.8%

Returns Analyses

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Earnings Returns History

Updated 6/11/2026

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
5/14/2026	-11.0%	-17.5%
3/27/2026	3.3%	10.8%	53.7%
11/14/2025	20.9%	22.9%	25.8%
SUMMARY STATS
# Positive	2	2	2
# Negative	1	1	0
Median Positive	12.1%	16.8%	39.8%
Median Negative	-11.0%	-17.5%
Max Positive	20.9%	22.9%	53.7%
Max Negative	-11.0%	-17.5%

	Forward Returns
5/14/2026	-11.0%	-17.5%
3/27/2026	3.3%	10.8%	53.7%
11/14/2025	20.9%	22.9%	25.8%
SUMMARY STATS
# Positive	2	2	2
# Negative	1	1	0
Median Positive	12.1%	16.8%	39.8%
Median Negative	-11.0%	-17.5%
Max Positive	20.9%	22.9%	53.7%
Max Negative	-11.0%	-17.5%

SEC Filings

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Report Date	Filing Date	Filing
03/31/2026	05/14/2026	10-Q
12/31/2025	03/30/2026	10-K
09/30/2025	11/14/2025	10-Q
06/30/2025	09/15/2025	424B4
03/31/2025	07/15/2025	DRS/A
12/31/2023	02/14/2025	DRS

Recent Forward Guidance

Updated 6/1/2026

Latest: Q1 2026 Earnings Reported 5/14/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Revenue	1.05 Bil	1.07 Bil	1.10 Bil	14.7%		Raised	Guidance: 937.50 Mil for Q1 2026
Q2 2026 Non-GAAP Adjusted EBITDA	115.00 Mil	120.00 Mil	125.00 Mil	26.3%		Raised	Guidance: 95.00 Mil for Q1 2026
2026 Revenue	4.10 Bil	4.20 Bil	4.30 Bil	10.5%		Raised	Guidance: 3.80 Bil for 2026
2026 Non-GAAP Adjusted EBITDA	470.00 Mil	480.00 Mil	490.00 Mil	15.7%		Raised	Guidance: 415.00 Mil for 2026

Prior: Q4 2025 Earnings Reported 3/27/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2026 Revenue	925.00 Mil	937.50 Mil	950.00 Mil	52.4%		Higher New	Guidance: 615.00 Mil for Q4 2025
Q1 2026 Non-GAAP Adjusted EBITDA	90.00 Mil	95.00 Mil	100.00 Mil	52.0%		Higher New	Guidance: 62.50 Mil for Q4 2025
2026 Revenue	3.70 Bil	3.80 Bil	3.90 Bil	38.2%		Raised	Guidance: 2.75 Bil for 2026
2026 Non-GAAP Adjusted EBITDA	400.00 Mil	415.00 Mil	430.00 Mil	36.1%		Raised	Guidance: 305.00 Mil for 2026

Insider Activity

Updated 6/11/2026

Expand for More

#	Owner	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Blackstone, Ema Iii Llc	Parent ML	Sell	4092026	54.00	9,528,699	514,549,746	9,642,834	Form
2	Blackstone, Ema Iii Llc	Parent II ML	Sell	4092026	54.00	5,865,413	316,732,302	1,042,058,574	Form
3	Legence, Parent ML Llc	Parent ML	Sell	4092026	54.00	9,528,699	514,549,746	9,642,834	Form
4	Legence, Parent ML Llc	Parent II ML	Sell	4092026	54.00	5,865,413	316,732,302	1,042,058,574	Form
5	Legence, Parent ML Llc	Parent ML	Sell	12162025	45.00	5,200,808	234,036,360	8,035,695	Form

LGN Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

Diversification Alternatives

How Is The Market Pricing LGN?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What LGN Makes & Who Pays

TTM figures based on

LGN Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Industry Resources

Industrials Resources

IndustryWeek

Manufacturing.net

Aviation Week

Construction & Engineering Resources

Engineering News-Record (ENR)

Construction Dive

Civil Engineering Magazine

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Core Cache Last Updated: 6/13/2026

Legence (LGN)

Market Price (6/14/2026): $86.1 | Market Cap: $5.8 BilSector: Industrials | Industry: Construction & Engineering

Legence (LGN)

Market Price (6/14/2026): $86.1Market Cap: $5.8 BilSector: IndustrialsIndustry: Construction & Engineering

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Legence (LGN)

Key Risks for Legence (LGN)

Addressable Markets for Legence's Main Products or Services (U.S. Region)

Interactive Breakdown

Better Bets vs. Legence (LGN)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

FDA Approved Drugs Data

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Recent Forward Guidance

Insider Activity

LGN Trade Sentinel

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CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Position Sizing

Market Price (6/14/2026): $86.1
Market Cap: $5.8 Bil
Sector: Industrials
Industry: Construction & Engineering