LandBridge Co LLC (LB)
LandBridge Company LLC focuses on overseeing land and natural assets to bolster and optimize oil and natural gas production across the United States. The company possesses substantial surface acreage, specifically within and adjacent to the Delaware Basin, spanning both Texas and New Mexico. Furthermore, LandBridge holds a collection of oil and gas royalty interests. It also generates income by selling brackish water and various other surface-related materials. Established in 2021, its corporate headquarters are situated in Houston, Texas, functioning as a subsidiary of LandBridge Holdings LLC.
Sector: Oil Royalty Traders
Industry: Oil & Gas Exploration & Production
LandBridge Company LLC
NYSE:LBEnergy · Oil & Gas Equipment & Services
+2.83%$79.14
AH Close$79.14+0.00%vs close
AH Close$79.14+0.00%vs close
Mkt Cap$2.35B
Float29.34M
O/S29.65M
Inst Own96.0%
SI13.1%
Div Yield0.58%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$199.09M
Net Income$30.13M
Total Assets$1.37B
Free Cash Flow$122.04M
Debt & Equity
Debt 62%
Equity 38%
Total Debt$560.28M
Total Equity$340.3M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in LB's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.37B
Liabilities$572.07M
Accounts Receivable$24.31M
Accounts Payable$562K
Inventory$0
PP&E (Net)$1.08B
Goodwill$0
Intangible Assets$136.96M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Currency | USD | USD | USD | USD |
| Period Ending | 2026-01-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Revenue | $199.09M | $109.95M | $72.86M | $51.78M |
| YoY Growth | 81.1% | 50.9% | 40.7% | - |
| Cost of Revenue | $18.01M | $10.99M | $12.21M | $10.56M |
| Gross Profit | $181.08M | $98.97M | $60.66M | $41.22M |
| Gross Margin | 91.0% | 90.0% | 83.2% | 79.6% |
| Research and Development | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $62.45M | $112.3M | -$12.09M | $41.8M |
| Other | $0 | $3.17M | $2.74M | $2.65M |
| Total Operating Expenses | $62.45M | $115.48M | -$9.35M | $44.45M |
| Operating Income (EBIT) | $118.5M | -$16.51M | $70.01M | -$3.23M |
| Operating Margin | 59.5% | -15.0% | 96.1% | -6.2% |
| Interest Expense | $32.71M | $23.34M | $7.02M | $3.11M |
| Interest Income | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$37.03M | -$23.09M | -$6.47M | -$2.96M |
| Income Before Tax (EBT) | $81.47M | -$39.6M | $63.54M | -$6.2M |
| Income Tax Expense | $9.07M | $1.88M | $370K | $164K |
| Net Income | $30.13M | $5.11M | $63.17M | -$6.36M |
| Net Income Margin | 15.1% | 4.6% | 86.7% | -12.3% |
| Supplementary Data | ||||
| EPS | 1.18 | 0.29 | 4.36 | -0.44 |
| Diluted EPS | 1.08 | 0.07 | 4.36 | -0.44 |
| Weighted Average OS | 27.84M | 17.81M | 14.50M | 14.50M |
| EBITDA | $125.64M | -$7.39M | $79.32M | $3.63M |
| EBITDA Margin | 63.1% | -6.7% | 108.9% | 7.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Currency | USD | USD | USD | USD |
| Period Ending | 2026-01-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Assets | ||||
| Current Assets | ||||
| Cash and Cash Equivalents | $30.74M | $37.03M | $37.82M | $25.35M |
| Short-Term Investments | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $30.74M | $37.03M | $37.82M | $25.35M |
| Accounts Receivable | $24.31M | $14.65M | $13.42M | $11.33M |
| Inventory | $0 | $0 | $0 | $0 |
| Other Current Assets | $4.77M | $1.13M | $300K | $630K |
| Total Current Assets | $59.81M | $52.81M | $52.28M | $37.31M |
| Long-Term Assets | ||||
| Property, Plant & Equipment Net | $1.08B | $902.74M | $203.02M | $207.31M |
| Goodwill | $0 | $0 | $0 | $0 |
| Intangible Assets | $136.96M | $45.27M | $28.64M | $30.88M |
| Long-Term Investments | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $80.97M | $0 | $0 | $0 |
| Other Long-Term Assets | $3.86M | $2.65M | $5.01M | $521K |
| Total Long-Term Assets | $1.31B | $950.66M | $236.67M | $238.71M |
| Other Assets | $0 | $0 | $0 | $0 |
| Total Assets | $1.37B | $1B | $288.95M | $276.02M |
| Liabilities | ||||
| Current Liabilities | ||||
| Accounts Payable | $562K | $489K | $200K | $38K |
| Short-Term Debt | $692K | $424K | $20.34M | $12.19M |
| Current Income Tax Payable | $1.2M | $2.29M | $685K | $212K |
| Current Unearned Revenue | $1.26M | $1.22M | $278K | $1.33M |
| Other Current Liabilities | $9.77M | $2.12M | $500K | $1.36M |
| Total Current Liabilities | $12.29M | $14.41M | $27.1M | $17.19M |
| Long-Term Liabilities | ||||
| Long-Term Debt | $559.59M | $380.81M | $108.34M | $48.82M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $192K | $183K | $2.76M | $55K |
| Total Long-Term Liabilities | $559.78M | $381M | $111.1M | $48.87M |
| Other Liabilities | $0 | $0 | $0 | $0 |
| Total Liabilities | $572.07M | $395.41M | $138.2M | $66.06M |
| Stockholders' Equity | ||||
| Preferred Stock | $0 | $0 | $0 | $0 |
| Common Stock | $317.07M | $432.66M | $150.75M | $209.96M |
| Retained Earnings | $23.23M | $3.35M | $0 | $0 |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $0 | $0 | $0 | $0 |
| Total Equity | $340.3M | $436.01M | $150.75M | $209.96M |
| Minority Interest | $453.68M | $172.05M | $0 | $0 |
| Total Liabilities and Equity | $912.37M | $831.42M | $288.95M | $276.02M |
| Supplementary Data | ||||
| Total Debt | $560.28M | $381.24M | $128.68M | $61.01M |
| Net Debt | $529.54M | $344.21M | $90.86M | $35.66M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Currency | USD | USD | USD | USD |
| Period Ending | 2026-01-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Operating Activities | ||||
| Net Income | $72.4M | -$41.48M | $63.17M | -$6.36M |
| Depreciation & Amortization | $11.47M | $8.88M | $8.76M | $6.72M |
| Deferred Income Tax | $4.08M | -$411K | $0 | $0 |
| Stock-Based Compensation | $45.32M | $95.33M | -$17.23M | $36.36M |
| Changes in Working Capital: | ||||
| Accounts Receivable | -$9.67M | $1.04M | -$2.09M | -$6.34M |
| Inventory | $0 | $0 | $0 | $0 |
| Accounts Payable | $16K | $272K | $362K | -$1.58M |
| Other Working Capital | -$3.97M | $2.31M | -$79K | -$8.33M |
| Total Working Capital Change | -$13.62M | $3.62M | -$1.8M | -$16.26M |
| Other Non-Cash Items | $6.62M | $1.69M | $142K | $38K |
| Net Cash from Operating | $126.27M | $67.64M | $53.04M | $20.5M |
| Investing Activities | ||||
| Capital Expenditures | -$4.24M | -$985K | -$2.78M | -$3.29M |
| Acquisitions | -$229.05M | -$723.37M | $0 | -$8.38M |
| Purchases of Investments | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 |
| Other Investing Activities | $210K | $0 | $11K | $0 |
| Net Cash from Investing | -$233.07M | -$724.35M | -$2.77M | -$11.67M |
| Financing Activities | ||||
| Debt Repaid | -$184.35M | -$255M | -$72.58M | $6.5M |
| Common Stock Issuance | $0 | $617.55M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 |
| Dividends Paid | -$63.71M | -$178.24M | -$105.17M | -$1.14M |
| Other Financing Activities | -$20.13M | -$38.38M | -$5.22M | $10.9M |
| Net Cash from Financing | $100.51M | $655.92M | -$37.8M | $3.27M |
| Forex Effect | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$6.29M | -$791K | $12.47M | $12.1M |
| Supplementary Data | ||||
| Operating Cash Flow | $126.27M | $67.64M | $53.04M | $20.5M |
| Capital Expenditure | -$4.24M | -$985K | -$2.78M | -$3.29M |
| Free Cash Flow | $122.04M | $66.65M | $50.26M | $17.21M |
| Cash at Beginning | $37.03M | $37.82M | $25.35M | $13.25M |
| Cash at End | $30.74M | $37.03M | $37.82M | $25.35M |