LGN

Legence Corp.

Ticker: LGNIndustrialsConstruction
HQ SAN JOSE, CACIK 2052568FY end 12-31
Revenue (FY)
$2.55B
Op. margin
2.41%
Net income
$-77.30M
Operating cash
$256.87M
Free cash flow
$218.93M
Return on equity
-10.34%
Debt / equity
2.11
Shares outstanding

The business

Legence Holdings, Inc. (Nasdaq: LEGC) operates as a leading provider of engineering, installation and maintenance services for mission-critical systems in buildings. The company maintains its website at www.wearelegence.com and serves clients across the United States through approximately 7,000 full-time employees operating from 116 physical locations across 46 states and the District of Columbia.

The company generates revenue through two primary segments: Engineering & Consulting and Installation & Maintenance. The Engineering & Consulting segment, which includes engineering and design services along with program and project management offerings, focuses on designing HVAC and MEP systems while developing strategies to reduce energy usage and enhance building sustainability. The Installation & Maintenance segment provides fabrication and installation of HVAC systems, process piping and other MEP systems, complemented by preventative and corrective maintenance services. In 2025, the company generated approximately 40 percent of revenues from new building projects and 60 percent from retrofits, upgrades and maintenance for existing buildings.

Legence specializes in serving high-growth sectors including data centers and technology, life sciences and healthcare, education, and manufacturing. In 2025, more than half of revenues derived from data centers and technology combined with life sciences and healthcare markets. The company served approximately 20,000 clients from 2019 through 2025, with the average relationship with its top ten clients spanning 23 years. As of December 31, 2025, the company reported backlog and awarded contracts of $3.7 billion.

The company's workforce comprises approximately 1,200 MEP engineers and energy consultants alongside approximately 6,200 HVAC and plumbing service technicians, fitters, electricians and sheet metal workers. Legence operates under collective bargaining agreements covering approximately 4,500 employees. The company has completed approximately 24 acquisitions since December 2020, including significant acquisitions of AMA Consulting Engineers Holdings LLC and P2S, LP in 2024, as well as The Bowers Group, Inc. in January 2026. Total 2025 revenues reached $2.55 billion, reflecting the company's substantial scale within the MEP services industry.

Sector
Industrials
Industry
Construction
HQ
SAN JOSE, CA
FY end
12-31
CIK
2052568
SIC
1700
Financial performance · annual
20252025
$-340.08M$448.26M$1.24B$2.02B$2.81B2025

Ownership

Who holds Legence Corp. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

267
funds hold it
0 of 35
superinvestors hold it
$2.37B
fund-held value
36.1%
of shares held by funds

Top fund holders

Fund% of fundValue
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%$156.01M
Franklin Dynatech Fund
FKDNX · Franklin Custodian Funds
0.48%$144.89M
First Trust RBA American Industrial Renaissance ETF
AIRR · First Trust Exchange-Traded Fund VI
1.19%$136.33M
iShares Russell 2000 ETF
IWM · iShares Trust
0.15%$128.57M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.06%$112.73M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

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15 years of Legence Corp.'s financials

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