WBI - WaterBridge Infrastructure LLC
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$33.20
DETAILS
HIGH:
$38.00
LOW:
$30.00
MEDIAN:
$33.00
CONSENSUS:
$33.20
UPSIDE:
6.55%
| Metric | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q3 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 201.0 | 27.4 | 123.2 | 196.8 | 178.1 | 89.8 |
| Cost of Revenue | 152.8 | (1.9) | 88.3 | 175.2 | 121.8 | 42.9 |
| Gross Profit | 48.2 | 29.3 | 35.0 | 21.6 | 56.3 | 46.9 |
| Operating Expenses | ||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 16.8 | 8.2 | 9.0 | 15.8 | 14.3 | 6.9 |
| Other Expenses | 0 | (17.3) | 2.3 | 1.9 | 13.1 | 21.2 |
| Operating Expenses | 16.8 | (9.1) | 11.3 | 17.7 | 27.3 | 28.1 |
| Operating Income | ||||||
| Operating Income | 30.5 | 22.3 | 23.7 | 3.9 | 29.0 | 18.8 |
| Interest Expense | 20.0 | 25.4 | 19.3 | 31.5 | 40.6 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | ||||||
| EBITDA | 99.5 | 91.0 | 53.8 | 4.8 | 29.9 | 38.3 |
| EBIT | 0 | 0 | 23.7 | 4.8 | 29.9 | 18.9 |
| Income Before Tax | 10.6 | (3.9) | 4.4 | (26.7) | (10.7) | 3.4 |
| Income Tax Expense | 1.1 | 1.7 | (0.4) | (2.4) | 0.0 | 0.1 |
| Net Income | 9.5 | (0.1) | 4.8 | 1.5 | (10.7) | 3.3 |
| Per Share Data | ||||||
| EPS (Basic) | 0.08 | -0.00 | -0.02 | 0.04 | -0.28 | – |
| EPS (Diluted) | 0.08 | -0.00 | -0.02 | 0.04 | -0.28 | – |
| Shares Outstanding | 43.9 | 43.3 | 43.3 | 38.5 | 38.5 | 0 |
| Metric | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 |
|---|---|---|---|---|---|
| Current Assets | |||||
| Cash & Cash Equivalents | 50.7 | 51.5 | 346.6 | 32.0 | 40.9 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 158.3 | 164.3 | 155.2 | 138.1 | 144.1 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 50.3 | 45.3 | 53.2 | 38.7 | 45.6 |
| Total Current Assets | 259.2 | 261.1 | 555.1 | 215.9 | 240.1 |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 2,353.4 | 2,285.5 | 2,201.2 | 2,069.3 | 2,341.4 |
| Goodwill | 53.1 | 53.1 | 52.1 | 9.1 | 178.5 |
| Intangible Assets | 912.2 | 935.7 | 967.7 | 1,006.8 | 138.8 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 32.0 | 32.7 | 29.4 | 49.2 | 45.5 |
| Total Non-Current Assets | 3,493.3 | 3,438.9 | 3,384.1 | 3,134.3 | 2,704.1 |
| Total Assets | 3,752.5 | 3,700.0 | 3,939.2 | 3,350.2 | 2,944.2 |
| Current Liabilities | |||||
| Account Payables | 55.7 | 38.7 | 43.1 | 61.9 | 54.7 |
| Short-Term Debt | 9.1 | 12.5 | 33.3 | 23.1 | 14.1 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 134.7 | 137.7 | 88.5 | 7.9 | 27.2 |
| Total Current Liabilities | 199.5 | 188.9 | 165.0 | 184.2 | 171.2 |
| Non-Current Liabilities | |||||
| Long-Term Debt | 0 | 0 | 0 | 1,768.3 | 1,659.7 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1,705.1 | 1,663.5 | 1,914.1 | 33.7 | 33.7 |
| Total Non-Current Liabilities | 1,705.1 | 1,663.5 | 1,914.1 | 1,802.0 | 1,693.4 |
| Total Liabilities | 1,904.6 | 1,852.4 | 2,079.1 | 1,986.2 | 1,864.6 |
| Stockholders' Equity | |||||
| Common Stock | 0 | 0 | 0 | 1,364.0 | 984.6 |
| Retained Earnings | (3.2) | (4.5) | (0.7) | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | 656.7 | 602.3 | 607.7 | 1,364.0 | 1,079.6 |
| Total Liabilities & Equity | 3,752.5 | 3,700.0 | 3,939.2 | 3,350.2 | 2,944.2 |
| Debt Metrics | |||||
| Total Debt | 9.1 | 12.5 | 33.3 | 1,791.4 | 1,673.8 |
| Net Debt | (41.6) | (39.0) | (313.3) | 1,759.4 | 1,632.8 |
| Metric | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q3 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | 9.5 | 0.7 | (0.7) | 10.7 | (10.7) | 3.3 |
| Depreciation & Amortization | 68.9 | 140.9 | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | 2.6 | 2.7 | 1.2 | 1.4 | 0 | 0.7 |
| Change in Working Capital | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 13.2 | 16.6 | (0.5) | (12.1) | 10.7 | (4.0) |
| Operating Cash Flow | 95.1 | 159.7 | 0 | 0 | 0 | 0 |
| Investing Activities | ||||||
| Capital Expenditure | (110.9) | (278.6) | 0 | 0 | 0 | 0 |
| Acquisitions | 0 | 39.9 | 0 | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 1.2 | 20.0 | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (109.7) | (218.6) | 0 | 0 | 0 | 0 |
| Financing Activities | ||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | (6.2) | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 19.9 | 97.2 | 0 | 0 | 0 | 0 |
| Financing Cash Flow | 13.7 | 97.2 | 0 | 0 | 0 | 0 |
| Cash Position | ||||||
| Net Change in Cash | (0.9) | 51.5 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 51.5 | 0 | 0 | 0 | 0 | 0 |
| Cash at End | 50.7 | 51.5 | 0 | 0 | 0 | 0 |
| Free Cash Flow | (15.8) | (118.9) | 0 | 0 | 0 | 0 |
| Key Metrics | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q3 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 201.0 | 27.4 | 123.2 | 196.8 | 178.1 | 89.8 |
| Gross Profit | 48.2 | 29.3 | 35.0 | 21.6 | 56.3 | 46.9 |
| Operating Income | 30.5 | 22.3 | 23.7 | 3.9 | 29.0 | 18.8 |
| Net Income | 9.5 | (0.1) | 4.8 | 1.5 | (10.7) | 3.3 |
| EPS (Diluted) | 0.08 | -0.00 | -0.02 | 0.04 | -0.28 | – |
| Balance Sheet | ||||||
| Cash & Equivalents | 50.7 | 51.5 | 346.6 | 32.0 | 40.9 | |
| Total Assets | 3,752.5 | 3,700.0 | 3,939.2 | 3,350.2 | 2,944.2 | |
| Total Debt | 9.1 | 12.5 | 33.3 | 1,791.4 | 1,673.8 | |
| Stockholders' Equity | 656.7 | 602.3 | 607.7 | 1,364.0 | 1,079.6 | |
| Cash Flow | ||||||
| Operating Cash Flow | 95.1 | 159.7 | 0 | 0 | 0 | 0 |
| Capital Expenditure | (110.9) | (278.6) | 0 | 0 | 0 | 0 |
| Free Cash Flow | (15.8) | (118.9) | 0 | 0 | 0 | 0 |