LB

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LandBridge Company LLC Class A Shares Representing Limited Liability Company Interests

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Key Metrics

Previous Close: $87.13
52-Week Range: $43.75 – $90.75
Market Cap: $6.82B
P/E (TTM): 79.00
EPS (TTM): 1.12
Dividend Yield: 0.55%

Advanced Metrics

Price/Book: 7.03
PEG Ratio: —
Return on Equity: 11.52%
Return on Assets: 7.07%
Gross Margin: 98.84%
Operating Margin: 66.06%
Profit Margin: 16.48%
Current Ratio: 7.27
Debt/Equity: 0.64
Total Debt: $535.72M
Free Cash Flow: $114.92M
Revenue Growth: 40.60%
Earnings Growth: 67.50%
Enterprise Value: $3.44B

LB Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$51.78M	$72.86M	$109.95M	$199.09M
Cost of Revenue	$10.56M	$12.21M	$10.99M	$13.50M
Gross Profit	$41.22M	$60.66M	$98.97M	$185.60M
Selling, General & Admin	$41.80M	-$12.09M	$112.30M	$62.45M
Operating Expenses	$44.45M	-$9.35M	$115.48M	$67.10M
Operating Income	-$3.23M	$70.01M	-$16.51M	$118.50M
EBITDA	$3.63M	$79.32M	-$7.39M	$125.64M
Pretax Income	-$6.20M	$63.54M	-$39.60M	$81.47M
Income Tax	$164.00K	$370.00K	$1.88M	$9.07M
Net Income	-$6.36M	$63.17M	$5.11M	$30.13M
Diluted EPS	-0.44	4.36	0.22	1.08
Diluted Shares	14.50M	14.50M	23.26M	27.84M

LB Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$16.15M	$37.82M	$37.03M	$30.74M
Receivables	$11.33M	$13.42M	$14.65M	$24.31M
Current Assets	$37.31M	$52.28M	$53.31M	$59.81M
Total Assets	$276.02M	$288.95M	$1.03B	$1.37B
Current Liabilities	$17.19M	$27.10M	$14.41M	$12.29M
Long-Term Debt	$45.92M	$108.34M	$380.81M	$559.59M
Total Debt	$57.61M	$128.68M	$381.24M	$560.28M
Total Liabilities	$66.06M	$138.20M	$395.41M	$572.07M
Retained Earnings	—	—	$3.35M	$23.23M
Shareholders' Equity	$0.00	$0.00	$0.00	$0.00
Working Capital	$20.12M	$25.18M	$38.91M	$47.53M
Net Debt	$41.46M	$90.86M	$344.21M	$529.54M

LB Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$20.50M	$53.04M	$67.64M	$126.27M
Capital Expenditure	-$3.29M	-$2.78M	-$985.00K	-$4.24M
Free Cash Flow	$17.21M	$50.26M	$66.65M	$122.04M
Depreciation & Amortisation	$6.72M	$8.76M	$8.88M	$11.47M
Stock-Based Compensation	$36.36M	-$17.23M	$95.33M	$45.32M
Investing Cash Flow	-$11.67M	-$2.77M	-$724.35M	-$233.07M
Financing Cash Flow	$3.27M	-$37.80M	$655.92M	$100.51M
Dividends Paid	-$1.14M	-$105.17M	-$178.24M	-$63.71M
Net Change in Cash	$12.10M	$12.47M	-$791.00K	-$6.29M

LB Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$43.95M	$47.53M	$50.83M	$56.78M	$51.01M
Cost of Revenue	$3.06M	$3.03M	$3.02M	$4.38M	$4.82M
Gross Profit	$40.89M	$44.50M	$47.81M	$52.40M	$46.18M
Selling, General & Admin	$14.73M	$14.80M	$15.86M	$17.09M	$15.73M
Operating Expenses	$15.86M	$16.00M	$16.92M	$18.32M	$17.00M
Operating Income	$25.04M	$28.50M	$30.89M	$34.08M	$29.18M
EBITDA	$27.10M	$30.55M	$33.47M	$35.10M	$33.03M
Pretax Income	$17.06M	$20.62M	$23.00M	$20.79M	$19.66M
Income Tax	$1.60M	$2.15M	$2.71M	$2.61M	$1.79M
Net Income	$6.46M	$7.50M	$8.11M	$8.06M	$8.71M
Diluted EPS	0.28	0.30	0.26	0.29	0.31
Diluted Shares	23.26M	25.16M	76.52M	27.84M	27.84M

LB Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$14.94M	$20.34M	$28.32M	$30.74M	$29.68M
Receivables	$27.21M	$20.58M	$24.23M	$24.31M	$26.23M
Current Assets	$43.59M	$44.14M	$57.37M	$59.81M	$59.26M
Total Assets	$1.01B	$1.07B	$1.08B	$1.37B	$1.36B
Current Liabilities	$11.79M	$10.36M	$13.82M	$12.29M	$18.82M
Long-Term Debt	$375.47M	$370.87M	$366.08M	$559.59M	$535.11M
Total Debt	$375.77M	$371.04M	$367.00M	$560.28M	$535.54M
Total Liabilities	$387.44M	$381.42M	$380.09M	$572.07M	$554.12M
Retained Earnings	$7.46M	$12.43M	$17.98M	$23.23M	$28.58M
Shareholders' Equity	$0.00	$266.45M	$271.99M	$0.00	$0.00
Working Capital	$31.80M	$33.78M	$43.55M	$47.53M	$40.44M
Net Debt	$360.83M	$350.70M	$338.69M	$529.54M	$505.86M

LB Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$15.91M	$37.33M	$34.91M	$38.12M	$41.12M
Capital Expenditure	-$69.00K	-$1.24M	-$1.19M	-$1.74M	-$180.00K
Free Cash Flow	$15.84M	$36.09M	$33.73M	$36.38M	$40.94M
Depreciation & Amortisation	$2.60M	$2.54M	$2.58M	$3.74M	$4.42M
Stock-Based Compensation	$11.14M	$11.27M	$11.22M	$11.68M	$11.26M
Investing Cash Flow	-$17.87M	-$2.08M	-$1.11M	-$212.02M	-$2.15M
Financing Cash Flow	-$20.14M	-$29.84M	-$25.83M	$176.33M	-$40.03M
Dividends Paid	-$13.56M	-$24.36M	-$14.85M	-$10.94M	-$14.73M
Net Change in Cash	-$22.10M	$5.41M	$7.97M	$2.42M	-$1.06M

Market Snapshot

About

LandBridge Company LLC is a land management and resource development company that owns and manages a significant contiguous land position in the Delaware Basin of West Texas. The company generates revenue through oil and gas royalties, surface use agreements, easements, and water sales to energy operators. LandBridge's strategy focuses on maximizing the value of its land holdings through multiple revenue streams tied to Permian Basin energy development.