LB · Landbridge Co LLC - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $51.01M | - | $50.83M | $47.53M | $19.01M | - | $28.49M | $21.72M |
| Cost of Revenue | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - |
| SG&A | $14.73M | - | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - |
| D&A | $2.60M | - | $638.0K | $783.0K | $600.0K | - | $2.00M | $1.50M |
| Operating Income | $29.18M | - | $30.89M | $28.50M | $13.52M | - | $19.10M | ($51.24M) |
| Interest Expense | - | - | - | - | - | - | - | - |
| Income Tax | $1.79M | - | $2.71M | $2.15M | $101.0K | - | $104.0K | $96.0K |
| Net Income | $8.71M | - | $8.11M | $7.50M | $6.46M | - | $2.66M | $10.78M |
| EPS - Basic | $0.31 | - | $0.31 | $0.30 | $0.27 | - | $0.15 | - |
| EPS - Diluted | $0.23 | - | $0.26 | $0.24 | $0.20 | - | ($0.04) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $29.68M | $30.74M | $28.32M | $20.34M | $14.94M | $37.03M | $14.42M | $24.65M |
| Accounts Receivable | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - |
| Current Assets | $59.26M | $59.81M | $57.37M | $44.14M | $43.59M | $53.31M | $31.61M | $41.54M |
| Total Assets | $1.36B | $1.37B | $1.08B | $1.07B | $1.01B | $1.00B | $689.89M | $710.46M |
| Current Liabilities | $18.82M | $12.29M | $13.82M | $10.36M | $11.79M | $14.41M | $43.26M | $27.10M |
| Long-term Debt | $535.11M | $559.59M | $366.08M | $370.87M | $375.47M | $380.81M | $242.43M | $360.85M |
| Total Liabilities | $554.12M | $572.07M | $380.09M | $381.42M | $387.44M | $395.41M | $285.87M | $414.02M |
| Stockholders' Equity | $344.50M | $340.30M | $271.99M | $266.45M | $440.35M | $436.01M | $97.21M | - |
| Retained Earnings | $28.58M | $23.23M | $17.98M | $12.43M | $7.46M | $3.35M | $2.66M | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $41.12M | - | - | - | $17.21M | - | - | - |
| Investing Cash Flow | ($2.15M) | - | - | - | ($55.16M) | - | - | - |
| Financing Cash Flow | ($40.03M) | - | - | - | $9.02M | - | - | - |
| CapEx | $180.0K | - | - | - | $89.0K | - | - | - |
| Free Cash Flow | $40.94M | - | - | - | $17.13M | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||
| Gross margin | - | - | - | - | - | - | - | - |
| Operating margin | 57.2% | - | 60.8% | 60.0% | 71.1% | - | 67.1% | -235.9% |
| EBITDA margin | 62.3% | - | 62.0% | 61.6% | 74.3% | - | 74.1% | -229.0% |
| Net margin | 17.1% | - | 15.9% | 15.8% | 34.0% | - | 9.3% | 49.6% |
| Free cash flow margin | 80.3% | - | - | - | 90.1% | - | - | - |
| FCF / Net income | 4.70 | - | - | - | 2.65 | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 28.9% | - | - | - | - | - | - | - |
| Effective tax rate | 17.0% | - | 25.0% | 22.3% | 1.5% | - | 3.8% | 0.9% |
| Return on assets | 0.6% | - | 0.8% | 0.7% | 0.6% | - | 0.4% | 1.5% |
| Return on equity | 2.5% | - | 3.0% | 2.8% | 1.5% | - | 2.7% | - |
| Return on invested capital | 2.8% | - | 3.6% | 3.5% | 1.6% | - | 5.4% | - |
| Liquidity | ||||||||
| Current ratio | 3.15 | 4.87 | 4.15 | 4.26 | 3.70 | 3.70 | 0.73 | 1.53 |
| Quick ratio | 3.15 | 4.87 | 4.15 | 4.26 | 3.70 | 3.70 | 0.73 | 1.53 |
| Cash ratio | 1.58 | 2.50 | 2.05 | 1.96 | 1.27 | 2.57 | 0.33 | 0.91 |
| Leverage | ||||||||
| Debt / Equity | 1.55 | 1.64 | 1.35 | 1.39 | 0.85 | 0.87 | 2.49 | - |
| Debt / Assets | 0.39 | 0.41 | 0.34 | 0.35 | 0.37 | 0.38 | 0.35 | 0.51 |
| Debt / EBITDA | 16.84 | - | 11.61 | 12.66 | 26.59 | - | 11.49 | - |
| Interest coverage | - | - | - | - | - | - | - | - |
| Equity multiplier | 3.95 | 4.01 | 3.96 | 4.00 | 2.29 | 2.30 | 7.10 | - |
| Liabilities / Assets | 0.41 | 0.42 | 0.35 | 0.36 | 0.38 | 0.39 | 0.41 | 0.58 |
| Efficiency | ||||||||
| Asset turnover | 0.04 | - | 0.05 | 0.04 | 0.02 | - | 0.04 | 0.03 |
| Inventory turnover | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - |
| Valuation | ||||||||
| P / E | 300.2x | - | 205.2x | 281.6x | 359.7x | - | - | - |
| P / B | 15.4x | - | 15.0x | 19.4x | 12.5x | - | 29.4x | - |
| P / S | 104.3x | - | 80.3x | 108.6x | 289.3x | - | 100.5x | - |
| EV / EBITDA | 183.4x | - | 140.2x | 188.3x | 415.1x | - | 146.4x | - |
| Growth | ||||||||
| Revenue growth (YoY) | 168.2% | - | 78.4% | 118.8% | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 115.8% | - | 61.7% | - | - | - | - | - |
| Net income growth (YoY) | 34.8% | - | 205.2% | -30.4% | - | - | - | - |
| EPS growth (YoY) | 15.0% | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 139.1% | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -21.8% | -22.0% | 179.8% | - | - | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$143.19M totalEasements And Other Surface Related Revenues$51.29M · 35.8%
Surface Use Royalties$36.60M · 25.6%
Resource Sales$23.00M · 16.1%
Resource Royalties$15.73M · 11.0%
Oil And Gas Royalties$12.59M · 8.8%
Product And Service Other$3.98M · 2.8%
Peer comparison
Same SIC group: Oil Royalty Traders
Comparing LandBridge Co LLC against the 3 most active filers in the same SIC group.
Dividends
$0.32/share trailing 12 months · +6.7% YoY
| Ex-date | Per share |
|---|---|
| Mar 5, 2026 | $0.1200 |
| Dec 4, 2025 | $0.1000 |
| Sep 4, 2025 | $0.1000 |
| Jun 5, 2025 | $0.1000 |
| Mar 6, 2025 | $0.1000 |
| Dec 5, 2024 | $0.1000 |