LandBridge Company LLC
- Open
- 78.87
- Day high
- 79.92
- Day low
- 75.52
- Prev close
- 79.24
- Volume
- 245K
- Mkt cap
- $2.1B
- P/E (TTM)
- 49.4
- EPS (TTM)
- $1.55
- P/B
- 6.2
- P/S
- 10.3
- Yield
- 0.57%
- Per share
- $0.44
LandBridge Company LLC (LB) is a Energy company listed on NYSE. The stock is up 19% over the past year.
LandBridge Company LLC (LB) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 29, 2026 | $0.70 | $0.23 | -67.1% | $51M | -13.1% |
| Feb 26, 2026 | $0.62 | $0.42 | -32.3% | $57M | -1.4% |
| Nov 12, 2025 | $0.48 | $0.26 | -45.7% | $51M | +1.2% |
| Aug 6, 2025 | $0.39 | $0.24 | -38.5% | $48M | -13.2% |
| Mar 5, 2025 | $0.38 | $0.18 | -52.6% | $36M | -15.3% |
| Jun 28, 2024 | — | $0.74 | — | $19M | — |
| Dec 30, 2023 | — | $-3.40 | — | $37M | — |
| Sep 29, 2023 | — | $1.15 | — | $18M | — |
| May 19, 2021 | $1.21 | $1.25 | +3.3% | — | — |
| Feb 24, 2021 | $2.91 | $3.03 | +4.1% | — | — |
| Nov 18, 2020 | $0.09 | $1.13 | +1155.6% | — | — |
| Aug 19, 2020 | $-0.42 | $0.25 | +159.5% | — | — |
LB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 6, 2026 | WATSON CHARLES L.director | Sell | 13,000 | $75.00 |
| Mar 6, 2026 | WATSON CHARLES L.director | Sell | 9,670 | $75.19 |
| Mar 6, 2026 | WATSON CHARLES L.director | Sell | 30,680 | $74.07 |
| Jan 7, 2026 | Bolling Harrison Fennerofficer: See Remarks | Buy | 850 | $46.84 |
| Jan 7, 2026 | McNeely Scott Lloydofficer: See Remarks | Buy | 549 | $45.49 |
| Jan 7, 2026 | Long Jason Thomasdirector, officer: See Remarks | Buy | 2,143 | $46.59 |
| Nov 21, 2025 | Five Point Energy Fund II AIV-VII LPdirector, 10 percent owner: | Sell | 2,500,000 | $70.00 |
| Nov 21, 2025 | LandBridge Holdings LLCdirector, 10 percent owner: | Sell | 2,500,000 | $70.00 |
| Nov 20, 2025 | Capobianco David Ndirector, 10 percent owner: | Sell | 2,500,000 | $70.00 |
| Sep 22, 2025 | Daul Ty P.director | Grant | 2,201 | — |
| Sep 22, 2025 | Chase Valeriedirector | Grant | 2,201 | — |
| Sep 22, 2025 | Nicolas Andrea Liriadirector | Grant | 2,201 | — |
| Sep 22, 2025 | WATSON CHARLES L.director | Grant | 2,201 | — |
| Aug 28, 2025 | Nicolas Andrea Liriadirector | Grant | 3,895 | — |
| Aug 28, 2025 | WATSON CHARLES L.director | Grant | 3,895 | — |
Source: LB SEC Form 4 filings, latest Mar 6, 2026. For informational purposes only — not investment advice.
See the full LB insider & 13F page →LandBridge Company LLC company profile
Overview
LandBridge Company LLC (NYSE:LB) is a land and resource management company founded in 2021 and based in Houston, Texas. The company went public in June 2024, making it one of the newest entrants to the public markets in the energy sector. LandBridge operates as a subsidiary of LandBridge Holdings LLC and has rapidly expanded its land holdings from 72,000 acres at the beginning of 2024 to over 273,000 acres by year-end through strategic acquisitions, positioning itself as a significant landowner in the prolific Delaware Basin spanning Texas and New Mexico.
Business
LandBridge operates in the land and mineral rights sector within the broader energy industry, functioning as a strategic landowner and resource manager in one of America's most productive oil and gas regions. The company's core business revolves around owning and monetizing surface land and subsurface mineral rights in the Delaware Basin, a sub-basin of the larger Permian Basin that has become the epicenter of U.S. shale oil and gas production. The company generates revenue through three primary business segments: 1. Surface Use Royalties and Revenues (approximately 50-60% of total revenue): This segment involves leasing surface land to oil and gas operators for drilling operations, pipeline infrastructure, and related facilities. Companies pay LandBridge for the right to use the surface land for their operations, which includes drilling pads, access roads, and equipment staging areas. 2. Resource Sales and Royalties (approximately 25-35% of revenue): LandBridge sells brackish water and other surface materials to energy companies. The Delaware Basin generates enormous volumes of produced water as a byproduct of oil extraction, and LandBridge has positioned itself to capture value from water handling and disposal services. The company also sells sand, gravel, and other materials needed for energy operations. 3. Oil and Gas Royalties (approximately 10-15% of revenue): The company owns mineral rights that entitle it to royalty payments from oil and gas production on its properties. Unlike traditional energy companies that actively drill and operate wells, LandBridge receives passive income based on production volumes from operators who lease these mineral rights. The Delaware Basin context is crucial to understanding LandBridge's business model. This region has experienced explosive growth in unconventional oil and gas development over the past decade, with companies using horizontal drilling and hydraulic fracturing techniques to extract hydrocarbons from shale formations. This activity requires extensive surface infrastructure and generates substantial water management needs, creating the foundation for LandBridge's revenue streams.
Competitive moat
LandBridge possesses a moderate to strong competitive moat based primarily on its strategic land position and the finite nature of well-located acreage in the Delaware Basin. The company's core competitive advantage stems from owning irreplaceable surface and mineral rights in one of the most active drilling regions in North America, creating natural barriers to competition. The geographic moat is significant because land ownership in prime drilling areas cannot be easily replicated. The Delaware Basin's geology and existing infrastructure make certain locations far more valuable than others, and LandBridge has assembled a substantial contiguous footprint that would be extremely difficult and expensive for competitors to duplicate. The company's 273,000-acre position provides scale advantages in negotiating with operators and developing integrated solutions across multiple projects. LandBridge also benefits from network effects and switching costs. Once operators establish infrastructure and relationships on LandBridge properties, they face significant costs and logistical challenges in relocating operations. The company's water handling capabilities create additional stickiness, as operators prefer consolidated solutions for their water management needs rather than dealing with multiple providers across different properties. However, the moat faces several potential challenges. Competitive threats include other large landowners in the Permian Basin, such as publicly traded companies like Texas Pacific Land Corporation, which operates a similar business model with a much larger scale and longer operating history. Private equity-backed land aggregators also compete for acquisitions and could potentially outbid LandBridge for strategic properties. Disruption risks primarily center on long-term energy transition trends that could reduce demand for oil and gas development, though the company's diversification into data centers and renewable energy helps address this concern. Technological changes in drilling efficiency could reduce surface land requirements per well, potentially pressuring surface use revenues. Additionally, regulatory changes affecting water disposal or environmental restrictions could impact the company's water-related revenue streams. The strength of LandBridge's moat ultimately depends on the continued attractiveness of the Delaware Basin for energy development and the company's ability to maintain its strategic land position while successfully diversifying into adjacent revenue streams.
Risks & safety
LandBridge presents a moderate margin of safety with solid financial fundamentals but elevated valuation metrics reflecting its recent IPO status and growth expectations. Liquidity and Solvency: • Cash position: $37 million as of Q1 2025, providing adequate near-term liquidity • Current ratio: 3.7x indicating strong short-term financial flexibility • Debt-to-equity ratio: Very low at 0.07%, minimal leverage risk • Free cash flow: Positive $16 million in Q1 2025, demonstrating cash generation capability • No significant debt burden or solvency concerns Valuation Metrics: • P/E ratio: 64.7x, significantly elevated reflecting growth expectations and recent IPO premium • EV/EBITDA: 15.0x, reasonable for a growing royalty business but above historical energy sector averages • Price-to-book: 3.8x, elevated but justified by asset quality and strategic location • Graham number suggests potential overvaluation at current levels Other Considerations: • Recent IPO status creates volatility and limited trading history for valuation assessment • Strong EBITDA margins of 88% provide substantial operating leverage • Dividend yield of approximately 0.6% offers modest income component • Asset base concentrated in single geographic region creates concentration risk • Business model provides natural inflation protection through commodity-linked revenues
Recent development
LandBridge has executed an aggressive expansion and diversification strategy since its 2021 founding, transforming from a regional land owner into a significant Delaware Basin player through strategic acquisitions and new revenue stream development. The company's most significant development has been its rapid land acquisition program, culminating in the late 2024 purchase of the Wolf Bone Ranch, which added 46,000 acres in Reeves and Pecos Counties and came with a minimum $25 million annual revenue commitment over five years. This acquisition alone increased LandBridge's total acreage from 72,000 to over 273,000 acres, representing nearly a 280% expansion in land holdings within a single year. Revenue diversification initiatives have become a central strategic focus, with management actively pursuing opportunities beyond traditional oil and gas services. The company signed a lease development agreement for a 1-gigawatt data center project on 2,000 acres in Reeves County, Texas, with potential to scale up to 5-6 gigawatts. This project generated an $8 million non-refundable deposit and represents LandBridge's entry into the high-growth digital infrastructure sector. Additionally, the company has executed solar energy project development agreements, positioning itself to benefit from the renewable energy transition. Water infrastructure expansion has emerged as another key growth driver. LandBridge has strengthened its partnership with WaterBridge, leading to the announcement of the Speedway Pipeline project with potential capacity of 500,000 barrels per day. The first phase is expected online in Q4 2025 and could generate approximately $30 million in annual cash flow for LandBridge. Produced water volumes have grown substantially, with a 70% quarter-over-quarter increase in Q1 2025. The company has also focused on operational optimization and financial discipline, maintaining its asset-light business model while improving capital allocation. Management paid down $120 million in debt during 2024, reducing the net leverage ratio from 4.2x to 2.8x, and initiated a quarterly dividend program with a $0.10 per share payout, signaling confidence in sustainable cash flow generation.
LB company profile · for informational purposes only — not investment advice.
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