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LandBridge Company LLC
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$6.2B
Market Cap
72.8
P/E
—
PEG
10.1%
ROCE
28.1%
ROE
0.64
D/E
61.3%
OPM
-6.7%
% from 52W High
85
α RS
🔍 LB is showing a multi-screen setup because it matches 4 of 39 tracked screener presets, RS Rating is 85, an ECS of 80.9 last quarter, and it has maintained a 35-day Near 52-Week High momentum persistence. The main caution: the Consistent Margins preset's Backtest win rate is only 46.8%. Net: Mixed signal stack, not a recommendation. ? Conviction RS Rating ECS Momentum Streaks Backtest
Sources
Conviction 4/39 · RS Rating 85 · ECS 80.9 · Near 52-Week High streak: 35d · Backtest win rate 46.8%
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🌏 Global Investor Returns
Currency-adjusted total returns for LB including FX impact
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📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

LandBridge Company LLC, together with its subsidiaries, owns and manages land and resources to support and enhance oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico. The company holds a portfolio of oil and gas royalties. It sells brackish water and other surface composite materials. The company was founded in 2021 and is headquartered in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.

Key Ratios Snapshot
📈 Growth Pattern
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 25.3K $1.7M 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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📊 MIXED LandBridge raises FY 2026 adjusted EBITDA guidance to $210M-$230M on strong Q1 growth.
Revenue & Profitability
Q1 2026 total revenue was $51 million (16% year-over-year increase), net income was $17.9 million (16% year-over-year increase), and adjusted EBITDA was $44.9 million (16% year-over-year increase). Cash flow from operations was $41.1 million, free cash flow was $40.9 million (158% year-over-year increase), free cash flow margin of 80%. Full-year 2026 adjusted EBITDA guidance raised to $210 million-$230 million.
Outlook
Management sees a more supportive macroeconomic environment for basin activity. West Texas is becoming a major data center hub due to low-cost power, abundant water, fiber connectivity, and favorable permitting. Approximately 10 GW of capacity has been announced in the region over the past two years, including LandBridge's Alpha Digital Campus.
Growth Drivers
Key growth levers: commercial pipeline (especially surface use royalties from produced water, easements, and data center deals), WaterBridge's Speedway phase I pipeline coming online summer 2026 with ramp through 2028, and increased visibility on produced water volumes. Bolt-on acquisitions are coring up critical areas of the footprint. Data center development (Alpha Digital Campus) is a new growth catalyst.
Balance Sheet & CapEx
Capital expenditures in Q1 2026 were $0.2 million, reflecting the asset-light model. The company does not fund infrastructure; customers build and operate. Net cash used in investing activities was $2.1 million. No specific CapEx guidance provided.
Margins
Q1 2026 adjusted EBITDA margin was 88%, consistent with the prior year quarter. Net income margin was 35%. Free cash flow margin was 80%. Management emphasized the durable high-margin nature of the business, driven by minimal capital requirements and recurring fee-based revenue.
Key Risks
Risks discussed: quarterly lumpiness in surface-related payments (e.g., easement payments, new SUA execution), seasonally slower Q1 commercial activity, and commodity price exposure (though limited, with oil & gas royalties at 6% of revenue). No other risks were flagged by management or analysts in the prepared remarks or Q&A.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-06
Record Q2 2026 revenue and EBITDA growth driven by strong performance across all segments and robust digital infrastructure momentum. Guidance for full-year Adjusted EBITDA reaffirmed, with significant liquidity and disciplined capital allocation supporting future growth.
Q1 2026 Q1 2026 2026-05-07
Q1 2026 saw 16% year-over-year growth in revenue and adjusted EBITDA, with strong free cash flow and an 88% margin. Full-year guidance was raised on improved commercial pipeline visibility and a supportive macro backdrop. Major data center and infrastructure deals highlight long-term growth.
Q4 2025 Q4 2025 2026-02-26
Delivered 81% revenue and 83% Adjusted EBITDA growth year-over-year, driven by strategic land expansion, commercial agreements, and robust surface use revenues. 2026 guidance targets over 20% EBITDA growth, with upside from new projects and acquisitions.
Q3 2025 Q3 2025 2025-11-13
Revenue and EBITDA grew for the sixth straight quarter, with Q3 revenue up 7% sequentially and 78% year-over-year. Major land acquisitions, a solar project sale, and new leases are set to drive further growth, while strong liquidity and disciplined capital allocation support expansion.
Q2 2025 Q2 2025 2025-08-07
Q2 2025 saw revenue and Adjusted EBITDA surge 83% and 81% year-over-year, driven by fee-based growth and strategic partnerships. Guidance was revised to $160–$180 million Adjusted EBITDA for 2025, with major projects like DBR Solar and Devon Energy set to drive future gains.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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