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Financials · LB

LandBridge Corporation (LB) financials

For the twelve months ended Sep 30, 2026, LandBridge Corporation reported $245.51M of revenue and $69.93M of net income.

Revenue, TTM
$245.51M
Revenue growth, YoY
+37.3%
Net income, TTM
$69.93M
Net income growth, YoY
+57.2%
Net margin
28.5%
Free cash flow, TTM
$166.54M
EPS, diluted, TTM
$1.31
Cash
$16.77M
Total debt
$755.55M
P/E
71.85
P/S
20.46
Market cap
$5.02B
Annual revenue$199.09M
FY2023FY2025
Annual net income$30.13M
FY2023FY2025
Annual free cash flow$122.04M
FY2023FY2025

LB revenue and earnings growth

LB revenueQ3 2026$70.89M

Quarter YoY
+39.5%
QoQ
+6.1%
FY YoY
+81.1%

LB revenue was $70.89M in fiscal Q3 2026 (ended Sep 30, 2026), up 39.5% from a year earlier and up 6.1% from the prior quarter. For the full fiscal 2025 it was $199.09M, up 81.1% from fiscal 2024.

LB net incomeQ3 2026$12.96M

Quarter YoY
+59.8%
QoQ
-58.3%
FY YoY
+489.6%

LB net income was $12.96M in fiscal Q3 2026 (ended Sep 30, 2026), up 59.8% from a year earlier and down 58.3% from the prior quarter. For the full fiscal 2025 it was $30.13M, up 489.6% from fiscal 2024.

LB EPSQ3 2026$0.44

FY YoY
13x

LB diluted EPS was $0.44 in fiscal Q3 2026 (ended Sep 30, 2026). For the full fiscal 2025 it was $0.94, up about 13-fold from fiscal 2024.

LB free cash flowQ3 2026$48.99M

Quarter YoY
+45.3%
QoQ
+21.7%
FY YoY
+83.1%

LB free cash flow was $48.99M in fiscal Q3 2026 (ended Sep 30, 2026), up 45.3% from a year earlier and up 21.7% from the prior quarter. For the full fiscal 2025 it was $122.04M, up 83.1% from fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Revenue$199.09M$109.95M$72.86M
Operating income$118.50M-$16.51M$70.01M
Pre-tax income$81.47M-$39.60M$63.54M
Income tax$9.07M$1.88M$370.0K
Net income$30.13M$5.11M$63.17M
EPS, basic$1.18$0.28-
EPS, diluted$0.94$0.07-
Diluted shares76.5M73.4M-

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Cash and equivalents$30.74M$37.03M$37.82M
Current assets$59.81M$53.31M$52.28M
Total assets$1.37B$1.03B$288.95M
Current liabilities$12.29M$14.41M$27.10M
Short-term debt$692.0K$424.0K$20.34M
Long-term debt$559.59M$380.81M$108.34M
Total debt$560.28M$381.24M$128.68M
Total liabilities$572.07M$395.41M$138.20M
Shareholders' equity$340.30M$637.07M$150.75M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Operating cash flow$126.27M$67.64M$53.04M
Capital expenditures$4.24M$985.0K$2.78M
Free cash flow$122.04M$66.65M$50.26M
Investing cash flow-$233.07M-$724.35M-$2.77M
Financing cash flow$100.51M$655.92M-$37.80M
Dividends paid$63.71M$178.24M$105.17M
Stock-based compensation$45.32M$95.33M-$17.23M
Depreciation and amortization$11.47M$8.88M$8.76M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Revenue growth, YoY81.1%50.9%-
Net income growth, YoY489.6%-91.9%-
EPS growth, YoY1242.9%--
Operating margin59.5%-15.0%96.1%
Net margin15.1%4.6%86.7%
Free cash flow margin61.3%60.6%69.0%
Return on equity8.9%0.8%41.9%
Return on assets2.2%0.5%21.9%
Current ratio4.873.701.93
Debt to equity1.650.600.85

Source: XBRL data LandBridge Corporation files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

LB peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
LB$245.51M+37.3%$69.93M28.5%$5.02B
SHEL$273.73B-5.3%$17.84B6.5%$273.51B
TTE$201.20B-6.2%$13.13B6.5%$192.00B
PBR$89.19B-2.4%$19.63B22.0%$118.25B
CNQC$38.76B+8.7%C$10.82B27.9%$98.26B
E€82.15B-7.5%€2.61B3.2%$87.98B
EOG$29.73B+31.7%$8.19B27.5%$76.96B
OXY$25.75B+36.9%$7.50B29.1%$55.74B
OKE$43.19B+36.8%$4.07B9.4%$54.21B

LB FAQ

8 questions
  • What is LB revenue?
    LandBridge Corporation (LB) reported $245.51M of revenue for the twelve months ended Sep 30, 2026. That is up 37.3% from the year before. Revenue for fiscal 2025 was $199.09M.
  • Is LB profitable?
    Yes. LandBridge Corporation earned $69.93M in net income for the twelve months ended Sep 30, 2026, a net margin of 28.5%.
  • How much cash and debt does LB have?
    LandBridge Corporation reported $16.77M in cash and cash equivalents and $755.55M of debt on its most recent balance sheet in SEC filings.
  • How fast is LB revenue growing?
    LandBridge Corporation's revenue changed +81.1% in fiscal 2025, to $199.09M.
  • What is LB free cash flow?
    LandBridge Corporation generated $166.54M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $170.17M less capital expenditures.
  • What is LB earnings per share?
    Diluted earnings per share were $1.31 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did LB last report financial results?
    The latest statements here come from LandBridge Corporation's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this LB financial data come from?
    Quantisnow builds these statements from the structured XBRL data LandBridge Corporation files with the SEC. It is provided for information only and is not investment advice.