LandBridge Co LLC LB

Financials SIC 6792 - Oil Royalty Traders NAICS Real Estate and Rental and Leasing › Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) derived NYSE

LandBridge was formed on September 27, 2023 as a Delaware limited liability company to serve as the issuer in an initial public offering of equity, which closed on July 1, 2024 (the "IPO"). LandBridge is a holding company, the principal asset of which is membership interests in OpCo. LandBridge is also the sole managing member of OpCo. Unless otherwise indicated or the context otherwise requires, references in this Annual Report to "LandBridge", "us," "we," "our" or the "Company" are to (i) OpCo and its subsidiaries before the completion of the corporate reorganization in connection with the IPO (the "Corporate Reorganization") and (ii) LandBridge and its subsidiaries as of the completion of the Corporate Reorganization.

Last close 79.14 2026-10-23
Market cap $2.21B estimated share count
52-week range 43.75 - 91.69

Valuation FY2025 figures against the last close

P/S11.1x
P/E84.2x
P/FCF18.1x
EV/EBITDA21.1x
Dividend yield2.9%
Diluted EPS0.94

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022
Revenue $199.1M$110.0M$72.9M—
Operating income $118.5M-$16.5M$70.0M—
Interest expense $32.7M$23.3M$7.0M—
Pre-tax income $81.5M-$39.6M$63.5M—
Income tax $9.1M$1.9M$370.0K—
Net income $72.4M-$41.5M$63.2M—
EPS, basic 1.180.28——
EPS, diluted 0.940.07——
Shares, diluted (wtd. avg.) 76.5M73.4M——

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022
Cash and equivalents $30.7M$37.0M$37.8M$25.4M
Total current assets $59.8M$53.3M$52.3M—
Property, plant and equipment $1.08B$902.7M$203.0M—
Other intangibles $137.0M$45.3M$28.6M—
Total assets $1.37B$1.03B$288.9M—
Short-term debt $692.0K$424.0K$20.3M—
Total current liabilities $12.3M$14.4M$27.1M—
Long-term debt $559.6M$380.8M$108.3M—
Total liabilities $572.1M$395.4M$138.2M—
Retained earnings $23.2M$3.3M——
Total equity $340.3M$211.8M$150.7M—

Cash flow

Fiscal year FY2025FY2024FY2023FY2022
Operating cash flow $126.3M$67.6M$53.0M—
Depreciation and amortisation $11.5M$8.9M$8.8M—
Stock-based compensation $45.3M$95.3M-$17.2M—
Capital expenditure $4.2M$985.0K$2.8M—
Investing cash flow -$233.1M-$724.4M-$2.8M—
Financing cash flow $100.5M$655.9M-$37.8M—
Dividends paid $63.7M$178.2M$105.2M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-197493.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M 0 100M 200M Revenue, FY2023: 72.9M Net income, FY2023: 63.2M Revenue, FY2024: 110M Net income, FY2024: -41.5M Revenue, FY2025: 199.1M Net income, FY2025: 72.4M FY2022 FY2023 FY2024 FY2025
Fiscal year FY2022FY2023FY2024FY2025
Revenue — $72.9M $110.0M $199.1M
Gross profit — — — —
Net income — $63.2M -$41.5M $72.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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