NYSE : LB
LandBridge Company LLC — Financial statements
Energy · Oil & Gas Equipment & Services · United States
Last price 83.59 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 6.44B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Other Revenue | 225.45M | 199.09M | 109.95M | 72.86M | 51.78M |
| Total Revenue | 225.45M | 199.09M | 109.95M | 72.86M | 51.78M |
| Property Expenses | 2.61M | 2.03M | 2.11M | 3.44M | 3.84M |
| Selling, General & Administrative | 64.58M | 62.45M | 112.30M | -12.09M | 41.80M |
| Depreciation & Amortization | 15.12M | 11.47M | 8.88M | 8.76M | 6.72M |
| Other Operating Expenses | 4.84M | 4.65M | 3.17M | 2.74M | 2.65M |
| Total Operating Expenses | 87.16M | 80.59M | 126.46M | 2.86M | 55.01M |
| Operating Income | 138.30M | 118.50M | -16.51M | 70.01M | -3.23M |
| Interest Expense | -35.55M | -32.71M | -23.64M | -7.02M | -3.11M |
| Other Non-Operating Income | -4.36M | -4.33M | 543.00K | 549.00K | 143.00K |
| EBT Excluding Unusual Items | 98.39M | 81.47M | -39.60M | 63.54M | -6.20M |
| Other Unusual Items | 46.88M | ||||
| Pretax Income | 98.39M | 81.47M | 7.27M | 63.54M | -6.20M |
| Income Tax Expense | 11.01M | 9.07M | 1.88M | 370.00K | 164.00K |
| Earnings From Continuing Operations | 87.38M | 72.40M | 5.40M | 63.17M | -6.36M |
| Minority Interest in Earnings | -50.22M | -42.27M | -288.00K | ||
| Net Income | 37.16M | 30.13M | 5.11M | 63.17M | -6.36M |
| Preferred Dividends & Other Adjustments | 721.00K | 753.00K | 198.00K | ||
| Net Income to Common | 36.44M | 29.38M | 4.91M | 63.17M | -6.36M |
| Basic Shares Outstanding | 26.93M | 24.82M | 17.81M | ||
| Diluted Shares Outstanding | 76.85M | 76.54M | 73.37M | ||
| EPS (Basic) | 1.35 | 1.18 | 0.28 | ||
| EPS (Diluted) | 1.13 | 0.94 | 0.07 | ||
| Dividend Per Share | 0.44 | 0.40 | 0.10 | ||
| Operating Margin | 61.34% | 59.52% | -15.02% | 96.08% | -6.24% |
| Profit Margin | 16.16% | 14.75% | 4.47% | 86.70% | -12.29% |
| EBITDA | 153.42M | 129.97M | -7.63M | 78.77M | 3.49M |
| EBITDA Margin | 68.05% | 65.28% | -6.94% | 108.11% | 6.74% |
| D&A For Ebitda | 15.12M | 11.47M | 8.88M | 8.76M | 6.72M |
| EBIT | 138.30M | 118.50M | -16.51M | 70.01M | -3.23M |
| EBIT Margin | 61.34% | 59.52% | -15.02% | 96.08% | -6.24% |
| Effective Tax Rate | 11.19% | 11.13% | 25.78% | 0.58% | |
| Revenue as Reported | 225.45M | 199.09M | 109.95M | 72.86M | 51.78M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Property, Plant & Equipment | 1.09B | 1.08B | 902.74M | 203.02M | 207.31M |
| Cash & Equivalents | 39.80M | 30.74M | 37.03M | 37.82M | 16.15M |
| Accounts Receivable | 27.50M | 24.31M | 14.65M | 13.42M | 11.31M |
| Other Receivables | 21.00K | ||||
| Other Intangible Assets | 131.44M | 136.96M | 45.27M | 28.64M | 30.88M |
| Restricted Cash | 9.20M | ||||
| Other Current Assets | 3.49M | 4.77M | 1.63M | 1.03M | 630.00K |
| Deferred Long-Term Tax Assets | 79.06M | 80.97M | 29.42M | ||
| Deferred Long-Term Charges | 1.90M | 2.20M | 700.00K | 600.00K | |
| Other Long-Term Assets | 1.33M | 1.66M | 1.04M | 4.41M | 521.00K |
| Total Assets | 1.38B | 1.37B | 1.03B | 288.95M | 276.02M |
| Current Portion of Long-Term Debt | 194.00K | 692.00K | 424.00K | 20.34M | 11.69M |
| Long-Term Debt | 535.53M | 559.59M | 380.81M | 108.34M | 45.92M |
| Accounts Payable | 742.00K | 562.00K | 489.00K | 200.00K | 38.00K |
| Accrued Expenses | 7.01M | 8.56M | 7.87M | 5.40M | 3.42M |
| Current Income Taxes Payable | 966.00K | 1.20M | 2.29M | 385.00K | 212.00K |
| Current Unearned Revenue | 818.00K | 1.26M | 1.22M | 278.00K | 1.33M |
| Other Current Liabilities | 7.00K | 7.00K | 2.12M | 500.00K | 500.00K |
| Other Long-Term Liabilities | 195.00K | 192.00K | 183.00K | 2.76M | 2.96M |
| Total Liabilities | 545.46M | 572.07M | 395.41M | 138.20M | 66.06M |
| Common Stock | 318.07M | 317.07M | 208.43M | 150.75M | 209.96M |
| Retained Earnings | 37.46M | 23.23M | 3.35M | ||
| Total Common Equity | 355.53M | 340.30M | 211.78M | 150.75M | 209.96M |
| Minority Interest | 476.27M | 453.68M | 425.30M | ||
| Shareholders' Equity | 831.81M | 793.99M | 637.07M | 150.75M | 209.96M |
| Total Liabilities & Equity | 1.38B | 1.37B | 1.03B | 288.95M | 276.02M |
| Total Debt | 535.72M | 560.28M | 381.24M | 128.68M | 57.61M |
| Net Cash (Debt) | -495.93M | -529.54M | -344.21M | -90.86M | -41.46M |
| Net Cash Per Share | -6.45 | -6.92 | -4.69 | ||
| Filing Date Shares Outstanding | 28.40M | 27.84M | 23.26M | ||
| Total Common Shares Outstanding | 28.23M | 27.84M | 23.26M | ||
| Book Value Per Share | 12.59 | 12.22 | 9.11 | ||
| Tangible Book Value | 224.09M | 203.34M | 166.51M | 122.11M | 179.08M |
| Tangible Book Value Per Share | 7.94 | 7.30 | 7.16 | ||
| Land | 1.04B | 1.03B | 855.09M | 157.74M | 157.49M |
| Buildings | 8.21M | 7.78M | 5.16M | 2.59M | 2.00M |
| Construction In Progress | 296.00K | 107.00K | 14.00K | 626.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Net Income | 37.16M | 30.13M | 5.11M | 63.17M | -6.36M |
| Depreciation & Amortization | 15.12M | 11.47M | 8.88M | 8.76M | 6.72M |
| Other Amortization | 2.25M | 2.19M | 1.69M | 388.00K | |
| Stock-Based Compensation | 45.41M | 45.32M | 95.33M | -17.23M | 36.36M |
| Change in Accounts Receivable | -6.97M | -9.67M | 1.04M | -2.09M | -6.34M |
| Change in Accounts Payable | 209.00K | 16.00K | 272.00K | 362.00K | -1.58M |
| Change in Other Net Operating Assets | 2.76M | -220.00K | 411.00K | -252.00K | -304.00K |
| Other Operating Activities | 59.31M | 50.79M | -46.99M | -246.00K | |
| Operating Cash Flow | 155.52M | 126.27M | 67.64M | 53.04M | 20.50M |
| Acquisition of Real Estate Assets | -4.24M | -4.24M | -985.00K | -2.78M | -3.29M |
| Sale of Real Estate Assets | 140.00K | 210.00K | 11.00K | ||
| Net Sale / Acq. of Real Estate Assets | -4.10M | -4.03M | -985.00K | -2.77M | -3.29M |
| Cash Acquisition | -222.45M | -229.05M | -723.37M | -8.38M | |
| Investing Cash Flow | -226.55M | -233.07M | -724.35M | -2.77M | -11.67M |
| Long-Term Debt Issued | 783.55M | 417.50M | 150.00M | ||
| Long-Term Debt Repaid | -599.20M | -162.96M | -77.82M | -6.50M | |
| Net Debt Issued (Repaid) | 169.91M | 184.35M | 254.54M | 72.18M | -6.50M |
| Issuance of Common Stock | 737.55M | 10.98M | |||
| Common Dividends Paid | -59.11M | -63.71M | -178.24M | -105.17M | -1.14M |
| Other Financing Activities | -20.32M | -20.13M | -157.92M | -4.81M | -72.00K |
| Net Cash Flow | 19.45M | -6.29M | -791.00K | 12.47M | 12.10M |
| Levered Free Cash Flow | 114.92M | 93.18M | 85.22M | 36.48M | |
| Unlevered Free Cash Flow | 134.90M | 111.43M | 98.30M | 40.47M | |
| Cash Interest Paid | 26.96M | 26.96M | 19.68M | 5.91M | 3.20M |
| Cash Income Tax Paid | 8.73M | 8.73M | 385.00K | 213.00K | 8.50M |
| Change in Working Capital | -3.74M | -13.62M | 3.62M | -1.80M | -16.26M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Market Capitalization | 6.44B | 1.24B | 1.50B | ||
| Enterprise Value | 6.94B | 2.01B | 2.07B | ||
| Last Close Price | 83.59 | 48.77 | 63.89 | ||
| PE Ratio | 74.15 | 42.26 | 305.84 | ||
| PS Ratio | 28.58 | 6.24 | 13.66 | ||
| PB Ratio | 6.64 | 1.56 | 2.36 | ||
| P/OCF Ratio | 41.43 | 9.83 | 22.21 | ||
| EV/Sales Ratio | 30.78 | 10.07 | 18.85 | ||
| EV/EBITDA Ratio | 45.23 | 15.43 | |||
| EV/EBIT Ratio | 50.18 | 16.93 | |||
| Debt / Equity Ratio | 0.64 | 0.71 | 0.60 | 0.85 | 0.27 |
| Debt / EBITDA Ratio | 3.49 | 4.31 | 1.63 | 16.52 | |
| Net Debt / Equity Ratio | 0.60 | 0.67 | 0.54 | 0.60 | 0.20 |
| Net Debt / EBITDA Ratio | 3.23 | 4.07 | -45.08 | 1.15 | 11.89 |
| Asset Turnover | 0.18 | 0.17 | 0.17 | 0.26 | |
| Quick Ratio | 6.91 | 4.48 | 3.59 | 1.89 | 1.60 |
| Current Ratio | 7.27 | 4.87 | 3.70 | 1.93 | 2.17 |
| Return on Equity (ROE) | 11.52% | 10.12% | 1.37% | 35.03% | |
| Return on Assets (ROA) | 7.07% | 6.18% | -1.56% | 15.49% | |
| Return on Invested Capital (ROIC) | 9.06% | 8.88% | -1.89% | 25.45% | -1.21% |
| Earnings Yield | 1.35% | 2.43% | 0.34% | ||
| Dividend Yield | 0.57% | 0.90% | 0.15% | ||
| Payout Ratio | 40.81% | 211.47% | 3,488.14% | 166.47% | |
| Buyback Yield / Dilution | -2.45% | -4.32% | |||
| Total Shareholder Return | -1.87% | -3.43% | 0.15% |