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Forensic Analysis · Homebuilders & Residential Construction · as of Nov 9, 2026

Legence Corp. (LGN)

A forensic read on Legence Corp. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution
Forensic grade
Distress
Financial health
1.0
Distress distance
2
Forensic signals
-15.2%
ROE

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Legence Corp. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 1.0, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

2.8%
FY2025
Return on invested capital. Return on invested capital is 2.8% in the latest fiscal year. FY2025's operating profit carried a $25M goodwill write-off that alone took about 1.1 points off that year's return, so the latest return is depressed by that charge. A non-cash write-down lowers the reported return in the year it lands.
$25M
FY2025
Goodwill impairments. Took $25M of goodwill writedowns across 1 year (FY2025 ($25M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$2.55B
Net Margin-2.3%
Free Cash Flow$218.9M
Return on Equity-15.2%
Debt / Equity2.11x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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