LB - LandBridge Company LLC
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$86.00
DETAILS
HIGH:
$88.00
LOW:
$84.00
MEDIAN:
$86.00
CONSENSUS:
$86.00
DOWNSIDE:
0.61%
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||
| Revenue | 66.8 | 51.0 | 56.8 | 50.8 | 47.5 | 44.0 | 36.5 | 28.5 | 26.0 | 19.0 | 37.5 | 17.8 | 21.7 | 15.9 | 16.2 |
| Cost of Revenue | 2.5 | 6.1 | 5.6 | 3.0 | 4.1 | 3.1 | 3.0 | 2.5 | 2.8 | 2.8 | 2.8 | 1.0 | 1.0 | 1.1 | 1.4 |
| Gross Profit | 64.4 | 44.9 | 51.2 | 47.8 | 43.4 | 40.9 | 33.5 | 26.0 | 23.2 | 16.2 | 34.7 | 16.8 | 20.7 | 14.8 | 14.8 |
| Operating Expenses | |||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 15.9 | 15.7 | 11.3 | 15.9 | 14.8 | 14.7 | 14.2 | 22.1 | 73.8 | 2.2 | 8.8 | (5.6) | (27.5) | 12.4 | 9.2 |
| Other Expenses | 4.3 | 0 | 0 | 1.1 | 0.1 | 1.1 | 1.3 | 0.7 | 0.6 | 0.5 | 1.0 | 3.3 | 2.9 | 2.2 | 2.4 |
| Operating Expenses | 20.2 | 15.7 | 11.3 | 16.9 | 14.9 | 15.9 | 15.5 | 22.8 | 74.4 | 2.7 | 9.8 | (2.3) | (24.6) | 14.6 | 11.6 |
| Operating Income | |||||||||||||||
| Operating Income | 44.2 | 29.2 | 40.0 | 30.9 | 28.5 | 25.0 | 18.0 | 3.2 | (51.2) | 13.5 | 24.9 | 19.1 | 45.3 | 0.2 | 3.2 |
| Interest Expense | 9.2 | 9.5 | 9.0 | 7.9 | 7.9 | 8.0 | 7.1 | 7.1 | 6.3 | 2.9 | 25.2 | 2.9 | 0.6 | 0.7 | 0.7 |
| Interest Income | 0 | 0 | 0 | 0 | 0.0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | |||||||||||||||
| EBITDA | 48.5 | 33.6 | 33.5 | 33.5 | 31.1 | 27.6 | 20.5 | 5.2 | (49.1) | 15.9 | 27.3 | 22.2 | 47.4 | 1.9 | 4.8 |
| EBIT | 44.1 | 29.2 | 29.7 | 30.9 | 28.5 | 25.0 | 18.0 | 3.2 | (51.2) | 13.8 | 24.9 | 19.6 | 45.3 | 0.2 | 3.2 |
| Income Before Tax | 35.0 | 19.7 | 20.8 | 23.0 | 20.6 | 17.1 | 10.9 | (3.9) | (57.5) | 10.9 | (0.3) | 16.7 | 44.8 | (0.5) | 2.5 |
| Income Tax Expense | 3.9 | 1.8 | 2.6 | 2.7 | 2.1 | 1.6 | 2.8 | (1.1) | 0.1 | 0.1 | 3.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Net Income | 12.3 | 17.9 | 8.1 | 8.1 | 7.3 | 6.5 | 2.5 | 2.7 | (57.7) | 10.8 | (49.3) | 16.6 | 44.7 | (0.6) | 2.5 |
| Per Share Data | |||||||||||||||
| EPS (Basic) | 0.40 | 0.64 | 0.30 | 0.31 | 0.30 | 0.27 | 0.11 | 0.15 | -3.31 | 0.74 | -3.41 | 1.15 | 3.08 | -0.04 | 0.17 |
| EPS (Diluted) | 0.40 | 0.64 | 0.38 | 0.26 | 0.24 | 0.20 | 0.04 | -0.04 | -3.31 | 0.74 | -3.41 | 1.15 | 3.08 | -0.04 | 0.17 |
| Shares Outstanding | 27.8 | 27.8 | 27.8 | 25.3 | 24.1 | 23.3 | 23.3 | 17.4 | 17.4 | 14.5 | 14.5 | 14.5 | 14.5 | 14.5 | 14.5 |
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q1 | 2022 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||||||
| Cash & Cash Equivalents | 39.8 | 29.7 | 30.7 | 28.3 | 20.3 | 14.9 | 37.0 | 14.4 | 24.6 | 8.9 | 37.8 | 17.3 | 0 | 25.4 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 27.5 | 26.2 | 24.3 | 24.2 | 20.6 | 27.2 | 14.7 | 14.9 | 16.3 | 9.8 | 13.4 | 14.0 | 0 | 11.3 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | 3.4 | 4.8 | 4.8 | 3.2 | 1.4 | 1.1 | 2.3 | 0 | 0.3 | 0.3 | 1.0 | 0 | 0.6 |
| Total Current Assets | 70.8 | 59.3 | 59.8 | 57.4 | 44.1 | 43.6 | 52.8 | 31.6 | 41.1 | 19.4 | 52.3 | 32.4 | 0 | 37.3 |
| Non-Current Assets | ||||||||||||||
| Property, Plant & Equipment | 1,092.8 | 1,084.6 | 1,084.5 | 918.0 | 918.3 | 918.6 | 902.7 | 628.1 | 629.8 | 256.6 | 203.0 | 204.5 | 0 | 207.3 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 131.4 | 134.2 | 137.0 | 41.8 | 43.0 | 44.1 | 45.3 | 27.5 | 28.0 | 28.6 | 28.6 | 29.2 | 0 | 30.9 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (143) | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 3.2 | 3.8 | 3.9 | 1.6 | 2.4 | 1.7 | 2.7 | 2.7 | 11.5 | 5.8 | 5.0 | 3.3 | 0 | 0.5 |
| Total Non-Current Assets | 1,306.5 | 1,303.0 | 1,306.2 | 1,020.5 | 1,022.2 | 964.5 | 950.7 | 658.3 | 669.3 | 291.0 | 236.7 | 237.0 | 0 | 238.7 |
| Total Assets | 1,377.3 | 1,362.2 | 1,366.1 | 1,077.9 | 1,066.4 | 1,008.1 | 1,003.5 | 689.9 | 710.5 | 310.4 | 288.9 | 269.3 | 0 | 276.0 |
| Current Liabilities | ||||||||||||||
| Account Payables | 0.7 | 0.4 | 0.6 | 0.6 | 0.5 | 0.6 | 0.5 | 0.2 | 0.2 | 0.5 | 0.2 | 0.5 | 0 | 0.0 |
| Short-Term Debt | 0.2 | 0.4 | 0.7 | 0.9 | 0.2 | 0.3 | 0.4 | 35.5 | 35.1 | 20.2 | 20.3 | 20.4 | 0 | 12.2 |
| Deferred Revenue | 0.8 | 1.4 | 1.3 | 2.2 | 1.1 | 0.8 | 1.2 | 0 | 0 | 0 | 0.3 | 0.1 | 0 | 1.3 |
| Other Current Liabilities | 1.1 | 1.0 | 0.0 | 1.1 | 8.2 | 8.0 | 0.8 | 7.5 | 2.0 | 1.2 | 0.5 | 0.5 | 0 | 1.4 |
| Total Current Liabilities | 9.7 | 18.8 | 12.3 | 13.8 | 10.4 | 11.8 | 14.4 | 43.3 | 50.4 | 26.8 | 27.1 | 27.1 | 0 | 17.2 |
| Non-Current Liabilities | ||||||||||||||
| Long-Term Debt | 535.5 | 535.1 | 559.6 | 366.1 | 370.9 | 375.5 | 380.8 | 242.4 | 360.8 | 118.5 | 108.3 | 98.1 | 0 | 48.8 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 45 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 2.8 | 2.8 | 2.8 | 3.2 | (210.0) | 0.1 |
| Total Non-Current Liabilities | 535.7 | 535.3 | 559.8 | 366.3 | 371.1 | 375.6 | 381.0 | 242.6 | 363.7 | 121.2 | 111.1 | 101.2 | (210.0) | 48.9 |
| Total Liabilities | 545.5 | 554.1 | 572.1 | 380.1 | 381.4 | 387.4 | 395.4 | 285.9 | 414.0 | 148.0 | 138.2 | 128.3 | (210.0) | 66.1 |
| Stockholders' Equity | ||||||||||||||
| Common Stock | 318.1 | 315.9 | 317.1 | 254.0 | 254.0 | 432.9 | 432.7 | 94.6 | 296.4 | 162.3 | 150.7 | 141.0 | 0 | 210.0 |
| Retained Earnings | 37.5 | 28.6 | 23.2 | 18.0 | 12.4 | 7.5 | 3.3 | 2.7 | (1,918) | 0 | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 74 | 0 | 0 | 0 | 210.0 | 0 |
| Total Stockholders' Equity | 355.5 | 344.5 | 340.3 | 272.0 | 266.4 | 440.3 | 436.0 | 97.2 | 296.4 | 162.3 | 150.7 | 141.0 | 210.0 | 210.0 |
| Total Liabilities & Equity | 1,377.3 | 1,362.2 | 1,366.1 | 1,077.9 | 1,066.4 | 1,008.1 | 1,003.5 | 689.9 | 710.5 | 310.4 | 288.9 | 269.3 | 0 | 276.0 |
| Debt Metrics | ||||||||||||||
| Total Debt | 535.7 | 535.5 | 560.3 | 367.0 | 371.0 | 375.8 | 381.2 | 278.0 | 396.0 | 138.7 | 128.7 | 118.4 | 0 | 61.0 |
| Net Debt | 495.9 | 505.9 | 529.5 | 338.7 | 350.7 | 360.8 | 344.2 | 263.6 | 371.3 | 129.8 | 90.9 | 101.1 | 0 | 35.7 |
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Net Income | 40.4 | 8.6 | 8.1 | 20.3 | 18.5 | 15.5 | 8.2 | (2.8) | (57.7) | 10.8 | 2.5 | 16.6 | 44.7 | (0.6) | 2.5 |
| Depreciation & Amortization | 4.4 | 4.4 | 3.7 | 2.6 | 2.5 | 2.6 | (1.1) | 2.0 | 2.1 | 2.1 | 2.4 | 2.6 | 2.1 | 1.7 | 1.6 |
| Stock-Based Compensation | 22.5 | 0 | 0 | 11.2 | 11.3 | 11.1 | 11.1 | 11.6 | 71.8 | 0.8 | 7.2 | (6.9) | (28.7) | 11.2 | 7.2 |
| Change in Working Capital | (9.0) | 6.7 | (2.3) | (1.0) | 3.9 | (14.2) | 3.7 | (2.6) | (0.7) | 3.3 | 0.4 | 3.8 | (5.6) | (0.4) | 0.5 |
| Other Non-Cash Items | (18.2) | 21.1 | 26.8 | 0.5 | 0.5 | 0.5 | 4.2 | 0.5 | 0.5 | 0.2 | (0.0) | 0.2 | 0.0 | (0.0) | (0.0) |
| Operating Cash Flow | 41.4 | 41.1 | 38.1 | 34.9 | 37.3 | 15.9 | 26.9 | 7.5 | 16.0 | 17.2 | 12.5 | 16.2 | 12.4 | 11.9 | 11.7 |
| Investing Activities | |||||||||||||||
| Capital Expenditure | 0.9 | (2.2) | 17.0 | (1.2) | (1.2) | (0.1) | (0.2) | (0.3) | (0.4) | (0.1) | (0.1) | (0.2) | (0.8) | (1.6) | (0.6) |
| Acquisitions | (12.2) | 0.0 | (229.0) | (0.0) | (0.9) | (17.8) | (292.1) | (0.8) | (375.4) | (55.1) | 0 | 0 | 0 | 0 | (1.8) |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0.1 | 0 | 0 | 0.1 | 0.1 | 0.0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 | 0 |
| Investing Cash Flow | (11.3) | (2.1) | (212.0) | (1.1) | (2.1) | (17.9) | (292.3) | (1.1) | (375.8) | (55.2) | (0.1) | (0.2) | (0.8) | (1.6) | (2.5) |
| Financing Activities | |||||||||||||||
| Net Debt Issuance | (0.2) | (25.2) | 186.9 | (5) | (5) | (5.8) | 103.8 | (118.8) | 260 | 10 | 10.2 | 70.8 | (6.6) | (1.6) | (1.6) |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | (18.6) | (14.7) | 52.8 | (14.8) | (24.4) | (13.6) | (7.4) | (170.9) | 0 | 0 | 0 | (82.2) | (10) | (13) | 0 |
| Other Financing Activities | (1.1) | (0.1) | (63.3) | (6.0) | (0.5) | (0.8) | (147.6) | 273.0 | 115.5 | (1.0) | (2.0) | (3.3) | (0.1) | (0.0) | (0.1) |
| Financing Cash Flow | (20.0) | (40.0) | 176.3 | (25.8) | (29.8) | (20.1) | 288.0 | (16.6) | 375.5 | 9.0 | 8.2 | (14.7) | (16.7) | (14.6) | (1.7) |
| Cash Position | |||||||||||||||
| Net Change in Cash | 10.1 | (1.1) | 2.4 | 8.0 | 5.4 | (22.1) | 22.6 | (10.2) | 15.8 | (28.9) | 20.5 | 1.3 | (5.0) | (4.3) | 7.5 |
| Cash at Beginning | 29.7 | 30.7 | 28.3 | 20.3 | 14.9 | 37.0 | 14.4 | 24.6 | 8.9 | 37.8 | 17.3 | 16.0 | 21.0 | 25.4 | 17.8 |
| Cash at End | 39.8 | 29.7 | 30.7 | 28.3 | 20.3 | 14.9 | 37.0 | 14.4 | 24.6 | 8.9 | 37.8 | 17.3 | 16.0 | 21.0 | 25.4 |
| Free Cash Flow | 42.2 | 38.9 | 55.1 | 33.7 | 36.1 | 15.8 | 26.7 | 7.1 | 15.7 | 17.1 | 12.3 | 16.0 | 11.7 | 10.3 | 11.1 |
| Key Metrics | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||
| Revenue | 66.8 | 51.0 | 56.8 | 50.8 | 47.5 | 44.0 | 36.5 | 28.5 | 26.0 | 19.0 | 37.5 | 17.8 | 21.7 | 15.9 | 16.2 |
| Gross Profit | 64.4 | 44.9 | 51.2 | 47.8 | 43.4 | 40.9 | 33.5 | 26.0 | 23.2 | 16.2 | 34.7 | 16.8 | 20.7 | 14.8 | 14.8 |
| Operating Income | 44.2 | 29.2 | 40.0 | 30.9 | 28.5 | 25.0 | 18.0 | 3.2 | (51.2) | 13.5 | 24.9 | 19.1 | 45.3 | 0.2 | 3.2 |
| Net Income | 12.3 | 17.9 | 8.1 | 8.1 | 7.3 | 6.5 | 2.5 | 2.7 | (57.7) | 10.8 | (49.3) | 16.6 | 44.7 | (0.6) | 2.5 |
| EPS (Diluted) | 0.40 | 0.64 | 0.38 | 0.26 | 0.24 | 0.20 | 0.04 | -0.04 | -3.31 | 0.74 | -3.41 | 1.15 | 3.08 | -0.04 | 0.17 |
| Balance Sheet | |||||||||||||||
| Cash & Equivalents | 39.8 | 29.7 | 30.7 | 28.3 | 20.3 | 14.9 | 37.0 | 14.4 | 24.6 | 8.9 | 37.8 | 17.3 | 0 | 25.4 | |
| Total Assets | 1,377.3 | 1,362.2 | 1,366.1 | 1,077.9 | 1,066.4 | 1,008.1 | 1,003.5 | 689.9 | 710.5 | 310.4 | 288.9 | 269.3 | 0 | 276.0 | |
| Total Debt | 535.7 | 535.5 | 560.3 | 367.0 | 371.0 | 375.8 | 381.2 | 278.0 | 396.0 | 138.7 | 128.7 | 118.4 | 0 | 61.0 | |
| Stockholders' Equity | 355.5 | 344.5 | 340.3 | 272.0 | 266.4 | 440.3 | 436.0 | 97.2 | 296.4 | 162.3 | 150.7 | 141.0 | 210.0 | 210.0 | |
| Cash Flow | |||||||||||||||
| Operating Cash Flow | 41.4 | 41.1 | 38.1 | 34.9 | 37.3 | 15.9 | 26.9 | 7.5 | 16.0 | 17.2 | 12.5 | 16.2 | 12.4 | 11.9 | 11.7 |
| Capital Expenditure | 0.9 | (2.2) | 17.0 | (1.2) | (1.2) | (0.1) | (0.2) | (0.3) | (0.4) | (0.1) | (0.1) | (0.2) | (0.8) | (1.6) | (0.6) |
| Free Cash Flow | 42.2 | 38.9 | 55.1 | 33.7 | 36.1 | 15.8 | 26.7 | 7.1 | 15.7 | 17.1 | 12.3 | 16.0 | 11.7 | 10.3 | 11.1 |