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LandBridge Co LLC

LB Clue Score63
United States Fiscal year ends December CIK 0001995807
$86.25 -1.38% Close, 9 Oct 2026
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Price $86.25 +62.40% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 28 Jun 2024. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2023Revenue72.9Operating income70.0Net income63.2Fiscal year 2024Revenue110.0 +50.9%Operating income−16.5Net income5.1 −91.9%EPS, diluted0.07Fiscal year 2025Revenue199.1 +81.1%Operating income118.5Net income30.1 +489.6%EPS, diluted0.94 +1,242.9%
FY2023FY2024FY2025
Revenue 72.9 110.0 199.1
Growth +50.9% +81.1%
Operating income 70.0 −16.5 118.5
Net income 63.2 5.1 30.1
Growth −91.9% +489.6%
EPS, diluted n/a 0.07 0.94
Growth +1,242.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2023Operating margin96.1%Net margin86.7%Free cash flow margin69.0%Fiscal year 2024Operating margin−15.0%Net margin4.6%Free cash flow margin60.6%Fiscal year 2025Operating margin59.5%Net margin15.1%Free cash flow margin61.3%
FY2023FY2024FY2025
Operating margin 96.1% −15.0% 59.5%
Net margin 86.7% 4.6% 15.1%
Free cash flow margin 69.0% 60.6% 61.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2023Operating cash flow53.0Capital expenditure−2.8Free cash flow50.3Dividends paid−105.2Fiscal year 2024Operating cash flow67.6Capital expenditure−1.0Free cash flow66.7 +32.6%Dividends paid−178.2Fiscal year 2025Operating cash flow126.3Capital expenditure−4.2Free cash flow122.0 +83.1%Dividends paid−63.7
FY2023FY2024FY2025
Operating cash flow 53.0 67.6 126.3
Capital expenditure −2.8 −1.0 −4.2
Free cash flow 50.3 66.7 122.0
Growth +32.6% +83.1%
Dividends paid −105.2 −178.2 −63.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2023Cash37.8Total debt128.7Net cash (debt)−90.9Shareholders’ equity150.7Debt to equity0.85Fiscal year 2024Cash37.0Total debt381.2Net cash (debt)−344.2Shareholders’ equity211.8Debt to equity1.80Fiscal year 2025Cash30.7Total debt560.3Net cash (debt)−529.5Shareholders’ equity340.3Debt to equity1.65
FY2023FY2024FY2025
Cash 37.8 37.0 30.7
Total debt 128.7 381.2 560.3
Net cash (debt) −90.9 −344.2 −529.5
Shareholders’ equity 150.7 211.8 340.3
Debt to equity 0.85 1.80 1.65

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
53.0 67.6 126.3
Growth +27.5% +86.7%
8.8 8.9 11.5
Investment
−2.8 −1.0 −4.2
calc 50.3 66.7 122.0
Growth +32.6% +83.1%
calc n/a 0.91 1.59
−2.8 −724.4 −233.1
Financing
−37.8 655.9 100.5
−105.2 −178.2 −63.7

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.