JFB Construction Holdings
JFB · General Bldg Contractors - Nonresidential Bldgs · 17.5M shares · EDGAR filings ↗
Grade
D50Small newly-public construction contractor running operating losses with thin margins despite a cash-rich post-IPO balance sheet.
Strengths
- Very high liquidity (current/quick ratio ~17x, 96.5th pct) from recent IPO proceeds
- Diversified commercial/residential backlog of 24 projects in fast-growing Southeast/Florida markets
Risks
- Loss-making: net margin -17% (30th pct), operating margin -19%, ROE -14% and ROA -13%
- Bottom-decile gross margin (10.3%, 9th pct) and negative operating/free cash flow (FCF -$12M)
- Exposure to franchise/national-brand capex cycles and contract-cost estimation risk
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -17.3%)
- Cash burnNegative free cash flow (-12.0M)
- Customer concentration~33% of revenue from one customer/distributor — In 2025, residential construction opportunities represent 33% of our revenues
- Revenue declineRevenue -20.5% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
10.3%
Operating margin
-18.5%
Net margin
-17.3%
Return on equity
-13.9%
Return on assets
-13.2%
Revenue growth (QoQ)
-20.5%
Current ratio
17.0×
Free cash flow
-$12M
EBITDA
-$5M
Tangible book value
$38M
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-25 | Exec/director change | filing ↗ |
| 2026-05-19 | 5.03Shareholder voteOtherExhibits | filing ↗ |
| 2026-05-12 | Reg FDOtherExhibits | filing ↗ |
| 2026-05-04 | Exec/director change | filing ↗ |
| 2026-03-24 | Material agreement3.035.03Exhibits | filing ↗ |
| 2026-02-18 | Material agreementExec/director changeOtherExhibits | filing ↗ |
| 2026-02-17 | Exec/director change | filing ↗ |
| 2026-02-17 | Material agreement3.02OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-22 | 0001493152-26-030132 ↗ |
| 10-K/A | 2026-06-17 | 2025-12-31 | 0001493152-26-028959 ↗ |
| 8-K | 2026-05-19 | 2026-05-18 | 0001493152-26-024408 ↗ |
| 10-Q | 2026-05-14 | 2026-03-31 | 0001193125-26-224006 ↗ |
| 8-K | 2026-05-12 | 2026-05-11 | 0001493152-26-022373 ↗ |
| 8-K | 2026-05-04 | 2026-04-28 | 0001493152-26-021117 ↗ |
| 10-K/A | 2026-04-21 | 2025-12-31 | 0001493152-26-018321 ↗ |
| 10-K | 2026-03-31 | 2025-12-31 | 0001193125-26-134406 ↗ |
| 8-K | 2026-03-24 | 2026-03-20 | 0001493152-26-012419 ↗ |
| 8-K | 2026-02-18 | 2026-02-13 | 0001493152-26-007359 ↗ |
| 8-K | 2026-02-17 | 2026-02-13 | 0001493152-26-006871 ↗ |
| 8-K | 2026-02-17 | 2026-02-13 | 0001493152-26-006957 ↗ |