LGN on Nasdaq
Legence Corp.
American construction - special trade contractors company based in San Jose.
Price unavailable
Last updated Oct 18, 2026.
Overview
Compare with Sunrun, Ameresco or TopBuild Corp., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
21.0%Gross margin2
2.4%Operating margin2
-2.3%Net margin2
21.5%Revenue growth, 20252
-15.2%Return on equity2
$218.9MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Installation And Maintenance brought in 36% of the revenue Legence Corp. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Installation And Maintenance | $1.2B | $1.5B | $1.8B |
| Installation & Maintenance | $1.2B | $1.5B | $1.8B |
| Engineering And Consulting | $426.2M | $601.6M | $726.3M |
| Engineering & Consulting | $426.2M | $601.6M | $726.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue79¢$2.0B
- Selling, general and admin13¢$342.6M
- Other costs7¢$171.1M
- Income tax1¢$22.2M
Out of $2.6B in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending15¢$37.9M
- Kept or used elsewhere85¢$218.9M
Out of $256.9M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years (annual) or 1 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $2.6B | $2.1B | $1.6B |
| Cost of revenue | $2.0B | $1.7B | $1.3B |
| Gross profit | $535.9M | $430.8M | $315.1M |
| Selling, general and administrative | $342.6M | $242.9M | $186.1M |
| Depreciation and amortization | $100.4M | $97.2M | $80.2M |
| Acquisition-related costs | $5.7M | $5.6M | $3.8M |
| Gain on sale of property and equipment | -$326.0K | $0 | $0 |
| Goodwill impairment | $25.0M | $17.8M | $5.1M |
| Long-lived asset impairment | $2.4M | $0 | $0 |
| Equity in earnings of joint venture | -$1.4M | -$3.1M | -$1.3M |
| Income from operations | $61.6M | $70.4M | $10.3M |
| Interest expense, net of capitalized interest (including $13,340, $13,316, and $12,396 for years ended December 31, 2025, 2024, and 2023, respectively, from related parties) | $101.8M | $91.6M | $68.2M |
| Interest income | -$4.5M | -$5.5M | -$4.2M |
| Loss on debt extinguishment | $6.7M | $0 | $0 |
| Credit agreement amendment fees | $6.3M | $7.8M | $0 |
| Other expense (income) , net | $6.5M | -$473.0K | $257.0K |
| Total other expense, net | $116.7M | $93.5M | $64.2M |
| Loss before income tax | -$55.1M | -$23.1M | -$53.9M |
| Income tax expense (benefit) | $22.2M | $4.5M | -$7.9M |
| Net loss | -$77.3M | -$27.6M | -$46.0M |
| Net (loss) income attributable to noncontrolling interests | -$17.5M | $912.0K | $0 |
| Net loss attributable to Legence | -$59.8M | -$28.6M | -$46.0M |
| Changes in fair value of contingent consideration liabilities | $0 | $0 | $31.1M |
| Period ending | 2025-12-31 |
|---|---|
| Net loss per Class A Common Stockbasic (in usd per share) | -$0.57 |
| Net loss per Class A Common Stockdiluted (in usd per share) | -$0.57 |
| Weighted-average Class A Common Stock outstandingbasic (in shares) | 59.4M shares |
| Weighted average Class A Common Stock outstandingdiluted (in shares) | 59.4M shares |
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2025-08-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $230.2M | $81.2M | |||
| Accounts receivable, net | $584.1M | $448.6M | |||
| Contract assets, net | $259.9M | $188.1M | |||
| Prepaid expenses and other current assets | $36.2M | $38.5M | |||
| Total current assets | $1.1B | $756.4M | |||
| Property and equipment, net | $92.3M | $73.4M | |||
| Goodwill | $764.3M | $781.2M | $676.0M | ||
| Intangible assets, net | $551.4M | $624.2M | |||
| Other assets | $43.8M | $26.3M | |||
| Total assets | $2.7B | $2.4B | |||
| Accounts payable | $246.2M | $126.5M | |||
| Accrued compensation and benefits | $68.1M | $54.6M | |||
| Accrued and other current liabilities | $16.5M | $28.5M | |||
| Contract liabilities | $339.5M | $164.1M | $164.6M | ||
| Current portion of long-term debt | $16.7M | $23.0M | |||
| Total current liabilities | $708.2M | $411.1M | |||
| Operating lease liabilities, net of current portion (including $17,282 and $20,960 as of December 31, 2025 and 2024, respectively, from related parties) | $103.8M | $80.7M | |||
| Tax receivable agreement liability - related party | $207.4M | $146.5M | $0 | ||
| Deferred tax liabilities, net | $46.7M | $35.4M | |||
| Other long-term liabilities | $12.1M | $35.9M | |||
| Member's equity | $443.7M | ||||
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025 | $0 | ||||
| Additional paid-in capital | $701.8M | ||||
| Accumulated deficit | -$309.9M | -$250.2M | |||
| Accumulated other comprehensive (loss) income | -$698.0K | $9.1M | |||
| Total Legence stockholders' equity / Member's equity | $392.2M | ||||
| Noncontrolling interests | $396.6M | ||||
| Total stockholders' equity / Member's equity | $788.8M | ||||
| Total Legence stockholders' equity / Member's equity | $202.7M | ||||
| Noncontrolling interests | $912.0K | ||||
| Total stockholders' equity / Member's equity | $203.6M | $522.9M | $540.6M | ||
| Total liabilities and stockholders' equity / Member's equity | $2.7B | $2.4B | |||
| Operating lease right-of-use assets (including $20,025 and $23,375 as of December 31, 2025 and 2024, respectively, from related parties) | $117.1M | $90.9M | |||
| Current portion of operating lease liabilities (including $3,920 and $3,654 as of December 31, 2025 and 2024, respectively, from related parties) | $21.3M | $14.4M | |||
| Long-term debt, net of current portion (including $84,735 and $211,039 as of December 31, 2025 and 2024, respectively, from related parties) | $812.4M | $1.6B | |||
| Preferred stock, par value (in usd per share) | $0.01 | ||||
| Preferred stock, shares authorized (in shares) | 50.0M shares | ||||
| Preferred stock, shares issued (in shares) | 0 shares | ||||
| Preferred stock, shares outstanding (in shares) | 0 shares | ||||
| Total liabilities | $1.9B | $2.1B |
| Period ending | 2025-12-31 | 2025-08-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $230.2M | $81.2M | |||
| Accounts receivable, net | $584.1M | $448.6M | |||
| Contract assets, net | $259.9M | $188.1M | |||
| Prepaid expenses and other current assets | $36.2M | $38.5M | |||
| Total current assets | $1.1B | $756.4M | |||
| Property and equipment, net | $92.3M | $73.4M | |||
| Goodwill | $764.3M | $781.2M | $676.0M | ||
| Intangible assets, net | $551.4M | $624.2M | |||
| Other assets | $43.8M | $26.3M | |||
| Total assets | $2.7B | $2.4B | |||
| Accounts payable | $246.2M | $126.5M | |||
| Accrued compensation and benefits | $68.1M | $54.6M | |||
| Accrued and other current liabilities | $16.5M | $28.5M | |||
| Contract liabilities | $339.5M | $164.1M | $164.6M | ||
| Current portion of long-term debt | $16.7M | $23.0M | |||
| Total current liabilities | $708.2M | $411.1M | |||
| Operating lease liabilities, net of current portion (including $17,282 and $20,960 as of December 31, 2025 and 2024, respectively, from related parties) | $103.8M | $80.7M | |||
| Tax receivable agreement liability - related party | $207.4M | $146.5M | $0 | ||
| Deferred tax liabilities, net | $46.7M | $35.4M | |||
| Other long-term liabilities | $12.1M | $35.9M | |||
| Member's equity | $443.7M | ||||
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025 | $0 | ||||
| Additional paid-in capital | $701.8M | ||||
| Accumulated deficit | -$309.9M | -$250.2M | |||
| Accumulated other comprehensive (loss) income | -$698.0K | $9.1M | |||
| Total Legence stockholders' equity / Member's equity | $392.2M | ||||
| Noncontrolling interests | $396.6M | ||||
| Total stockholders' equity / Member's equity | $788.8M | ||||
| Total Legence stockholders' equity / Member's equity | $202.7M | ||||
| Noncontrolling interests | $912.0K | ||||
| Total stockholders' equity / Member's equity | $203.6M | $522.9M | $540.6M | ||
| Total liabilities and stockholders' equity / Member's equity | $2.7B | $2.4B | |||
| Operating lease right-of-use assets (including $20,025 and $23,375 as of December 31, 2025 and 2024, respectively, from related parties) | $117.1M | $90.9M | |||
| Current portion of operating lease liabilities (including $3,920 and $3,654 as of December 31, 2025 and 2024, respectively, from related parties) | $21.3M | $14.4M | |||
| Long-term debt, net of current portion (including $84,735 and $211,039 as of December 31, 2025 and 2024, respectively, from related parties) | $812.4M | $1.6B | |||
| Preferred stock, par value (in usd per share) | $0.01 | ||||
| Preferred stock, shares authorized (in shares) | 50.0M shares | ||||
| Preferred stock, shares issued (in shares) | 0 shares | ||||
| Preferred stock, shares outstanding (in shares) | 0 shares | ||||
| Total liabilities | $1.9B | $2.1B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$77.3M | -$27.6M | -$46.0M |
| Amortization of intangible assets | $82.3M | $81.0M | $70.1M |
| Depreciation of property and equipment | $31.9M | $29.9M | $22.7M |
| Goodwill impairment | $25.0M | $17.8M | $5.1M |
| Long-lived asset impairment | $2.4M | $0 | $0 |
| Amortization of debt issuance costs and discounts | $3.5M | $5.1M | $5.0M |
| Loss on debt extinguishment | $6.7M | $0 | $0 |
| Stock-based compensation | $67.5M | $5.4M | $10.1M |
| Changes in fair value of contingent consideration liabilities (including $13,424 for the year ended December 31, 2023 from related parties) | $0 | $0 | $31.1M |
| Deferred taxes | $15.3M | -$13.7M | -$13.3M |
| Tax receivable agreement liability remeasurement | $2.9M | $0 | $0 |
| Equity in earnings of joint venture | -$1.4M | -$3.1M | -$1.3M |
| Return on investment in joint venture | $1.7M | $1.0M | $1.3M |
| Operating lease right-of-use asset lease expense | $18.3M | $13.1M | $9.1M |
| Other | $1.2M | $3.7M | $1.2M |
| Accounts receivable, net | -$130.1M | $18.0M | -$81.0M |
| Contract assets | -$71.2M | -$51.0M | -$23.7M |
| Prepaid expenses and other current assets | $2.9M | $4.5M | $3.3M |
| Accounts payable | $117.9M | $10.7M | -$5.0M |
| Accrued compensation and benefits | $12.3M | -$2.8M | $6.6M |
| Accrued and other current liabilities | -$14.0M | -$36.6M | $1.2M |
| Contract liabilities | $172.2M | -$14.5M | $46.2M |
| Operating lease liabilities, current and long-term | -$15.3M | -$10.6M | -$8.6M |
| Other long-term assets and liabilities | $2.1M | -$909.0K | $78.0K |
| Cash provided by operating activities | $256.9M | $29.3M | $33.9M |
| Purchases of property and equipment | -$37.9M | -$19.0M | -$17.1M |
| Consideration paid for acquisitions, net of cash acquired | -$16.5M | -$225.2M | -$119.9M |
| Proceeds from sale of property and equipment | $390.0K | $269.0K | $353.0K |
| Return of investment in joint venture | $0 | $0 | $2.7M |
| Cash used in investing activities | -$54.0M | -$244.0M | -$133.9M |
| Term loan borrowings (including $2,968, $103,500, and $15,000 for the years ended December 31, 2025, 2024, and 2023, respectively, from related parties) | $59.6M | $565.0M | $155.0M |
| Term loan payments (including $74,797 in 2025 to related parties) | -$852.2M | -$13.7M | -$9.8M |
| Notes payable payments | -$7.9M | -$6.5M | -$4.8M |
| Finance lease payments | -$3.8M | -$2.5M | -$1.9M |
| Cash distributions to Legence Parent | $0 | -$301.6M | -$1.5M |
| Cash contributions from Legence Parent | $0 | $400.0K | $550.0K |
| Proceeds from IPO, net of underwriting discounts and commissions | $780.2M | $0 | $0 |
| Debt issuance costs | -$1.6M | -$1.5M | -$3.5M |
| Payments for deferred offering costs | -$28.1M | -$196.0K | $0 |
| Payments of contingent consideration (including ($20,663) and $(5,520) for the years ended December 31, 2024 and 2023, respectively, from related parties) | $0 | -$32.5M | -$5.5M |
| Cash (used in) provided by financing activities | -$53.8M | $207.0M | $128.5M |
| Increase (decrease) in cash and cash equivalents | $149.0M | -$7.8M | $28.5M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Legence Corp., and when. Pick a name to see everywhere that person has worked.
- Chief executive officerJeffrey Sprau Sep 11, 2025 to now7
- Chief financial officerStephen M. Butz Sep 11, 2025 to now8
Board members and other officers (10)
- Chief Accounting OfficerBris Philippe Le Sep 11, 2025 to now9
- Chief Human Resources OfficerGregory Barnes Sep 11, 2025 to now10
- Chief Strategy OfficerJustin Schwartz Dec 9, 2025 to now11
- Board memberRobert Crisci Aug 20, 2026 to now12
- Board memberBilal Khan Sep 11, 2025 to now13
- Board memberChristie B. Kelly Sep 11, 2025 to now14
- Board memberJeffrey Sprau Sep 11, 2025 to now7
- Board memberRobert Mitchell Nimocks Sep 11, 2025 to now15
- Board memberTerrence Keenen Sep 11, 2025 to now16
- General counselBryce Seki Sep 11, 2025 to now17
Timeline
Filings
109 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 13 major events, 47 insider forms, 10 large holders, 2 private raises, 33 other. The latest 20:
- Sep 22, 20264 EDGAR
- Sep 18, 2026144 EDGAR
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 16, 2026144 EDGAR
- Aug 20, 20264 EDGAR
- Aug 20, 20263 EDGAR
- Aug 18, 20268-K EDGAR
- Aug 13, 202610-Q EDGAR
- Aug 13, 20268-K EDGAR
- Aug 7, 2026SCHEDULE 13G/A EDGAR
- Jul 29, 2026SCHEDULE 13G EDGAR
- Jun 11, 20264 EDGAR
- Jun 11, 20264 EDGAR
- Jun 11, 20264 EDGAR
The 109 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 10 such filings since October 2021:
- Aug 7, 2026SCHEDULE 13G/A
- Jul 29, 2026SCHEDULE 13G
- May 6, 2026SCHEDULE 13G/A
- May 1, 2026SCHEDULE 13G/A
- Mar 27, 2026SCHEDULE 13G/A
- Feb 13, 2026SCHEDULE 13G/A
- Feb 5, 2026SCHEDULE 13G/A
- Jan 30, 2026SCHEDULE 13G
- Oct 16, 2025SCHEDULE 13G
- Oct 7, 2025SCHEDULE 13G
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Blackstone Inc. | 19,475,952 | $1.7B | 5.4% | −5,865,413 |
| BlackRock, Inc. | 4,523,195 | $385.5M | 0.0% | +1,876,001 |
| Jupiter Topco LLC | 2,882,048 | $245.6M | 0.1% | New |
| Franklin Resources Inc | 2,870,439 | $244.6M | 0.1% | +558,173 |
| Vanguard Portfolio Management LLC | 2,564,791 | $218.6M | 0.0% | +1,097,928 |
| Healthcare Of Ontario Pension Plan Trust Fund | 2,539,939 | $216.5M | 0.3% | +1,884,939 |
| Vanguard Capital Management LLC | 2,495,846 | $212.7M | 0.0% | +981,172 |
| First Trust Advisors LP | 1,881,424 | $160.4M | 0.1% | +1,735,066 |
| Geode Capital Management, LLC | 1,555,495 | $132.6M | 0.0% | +659,542 |
| Forest Avenue Capital Management LP | 1,546,512 | $131.8M | 5.5% | New |
| Two Sigma Investments, LP | 1,478,072 | $126.0M | 0.1% | +1,410,097 |
| Westfield Capital Management Co LP | 1,341,963 | $114.4M | 0.4% | −519,690 |
| Invesco Ltd. | 1,300,349 | $110.8M | 0.0% | +1,274,382 |
| State Street Corp | 1,296,500 | $110.5M | 0.0% | +474,482 |
| Renaissance Technologies LLC | 1,180,400 | $100.6M | 0.1% | +600,700 |
| Massachusetts Financial Services Co /ma/ | 1,045,881 | $89.1M | 0.0% | −911,399 |
| Fmr LLC | 974,787 | $83.1M | 0.0% | −1,983,572 |
| Goldman Sachs Group Inc | 914,813 | $78.0M | 0.0% | +794,006 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 864,097 | $73.6M | 0.1% | −350,726 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 859,907 | $73.3M | 0.1% | +75,254 |
| Merewether Investment Management, LP | 852,658 | $72.7M | 1.4% | +126,322 |
| UBS Group AG | 787,489 | $67.1M | 0.0% | +481,791 |
| Munro Partners | 779,617 | $66.4M | 1.5% | +31,785 |
| Bank Of America Corp /de/ | 777,550 | $66.3M | 0.0% | +97,333 |
| Loomis Sayles & Co L P | 732,152 | $62.4M | 0.1% | −168,505 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
3 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Mar 3, 2026 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −29.8% | Report |
| Jan 15, 2026 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −13.7% | Report |
| Nov 24, 2025 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −12.0% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARLegence Corp. filings on SEC EDGAR
- 2SEC EDGARLegence Corp. 10-K for fiscal 2025
- 3SEC EDGARLegence Corp. filings on SEC EDGAR
- 4SEC EDGARLegence Corp. 10-Q for fiscal 2025
- 5SEC EDGARLegence Corp. 10-Q for fiscal 2025
- 6SEC EDGARLegence Corp. 10-Q for fiscal 2026
- 7
- 8
- 9
- 10
- 11
- 12SEC EDGARRobert Crisci, Board member
- 13SEC EDGARBilal Khan, Board member
- 14SEC EDGARChristie B. Kelly, Board member
- 15
- 16SEC EDGARTerrence Keenen, Board member
- 17SEC EDGARBryce Seki, General counsel
- 18