Legence Corp. (LGN) intrinsic value & 10-year financials

Legence Corp. (LGN) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 3 fiscal years revenue grew 25.7% a year to $2.6B, with an average return on invested capital of 6.2%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$43.53
Revenue (FY2025)
$2.6B
Revenue growth (3-yr CAGR)
25.7%
ROIC (10-yr avg)
6.2%
Free cash flow (FY2025)
$218.9M

LGN 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $2.6B -$59.8M — $218.9M 2.4% 6.2%
FY2024 $2.1B -$28.6M — $10.3M 3.4% —
FY2023 $1.6B -$46.0M — $16.8M 0.6% —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Legence Corp. is a consistent compounder, expanding top-line revenue at 25.7% annually over the past decade.

Legence Corp. has historically struggled to out-earn its cost of capital, averaging just 6.2% ROIC.

Legence Corp. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Legence Corp. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment.

LGN stock: frequently asked questions

How fast has Legence Corp. grown?

Revenue went from $1.6B in fiscal 2023 to $2.6B in fiscal 2025, a compound annual growth rate of 25.7%. Net income was -$59.8M in fiscal 2025.

Does Legence Corp. generate free cash flow?

Legence Corp. generated $218.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 3 of the last 3 reported years.

What is LGN's return on invested capital?

Average ROIC over the last 3 fiscal years was 6.2%, and average return on equity was -15.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this LGN data come from?

From Legence Corp.'s annual 10-K filings on SEC EDGAR, most recently filed May 14, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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