Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data LandBridge Co LLC files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2024
FY2024
FY2025
Revenue
72.9
110
199
Operating income
70
-16.5
119
Other non-operating income
0.55
0.24
-4.33
Pre-tax income
63.5
-39.6
81.5
Income tax
0.37
1.88
9.07
Net income to minority interests
0.29
42.3
Net income
63.2
5.11
30.1
EBITDA
78.8
-7.64
130
EPS, basic
0.28
1.18
EPS, diluted
0.07
0.94
Shares, basic (weighted)
17.8
24.8
Shares, diluted (weighted)
73.4
76.5
Balance sheet
FY2024
FY2024
FY2025
Cash and equivalents
37.8
37
30.7
Other current assets
1.04
1.63
4.77
Total current assets
52.3
53.3
59.8
Property, plant and equipment
203
903
1,084
Intangible assets
28.6
45.3
137
Other non-current assets
5.01
1.74
3.86
Total assets
289
1,032
1,366
Accrued liabilities
4.95
7.19
7.78
Deferred revenue
0.28
1.22
1.26
Short-term debt
20.3
0.42
0.69
Total current liabilities
27.1
14.4
12.3
Long-term debt
108
381
560
Other non-current liabilities
2.76
0.18
0.19
Total liabilities
138
395
572
Total debt
129
385
571
Retained earnings
3.35
23.2
Shareholders' equity
212
340
Minority interests
425
454
Total equity
151
637
794
Total liabilities and equity
289
1,032
1,366
Shares outstanding
23.3
Cash flow statement
FY2024
FY2024
FY2025
Net income
63.2
-41.5
72.4
Depreciation and amortization
8.76
8.88
11.5
Stock-based compensation
-17.2
95.3
45.3
Deferred income tax
0
-0.41
4.08
Change in receivables
-1.47
2.11
-6.83
Cash from operations
53
67.6
126
Capital expenditures
-2.78
-0.99
-4.24
Acquisitions
0
-723
-229
Cash from investing
-2.77
-724
-233
Debt issued
150
418
784
Debt repaid
-77.8
-163
-599
Stock issued
278
Dividends paid
-105
-178
-63.7
Cash from financing
-37.8
656
101
Net change in cash
12.5
-0.79
-6.29
Free cash flow
50.3
66.7
122
Interest paid
5.91
19.7
27
Income taxes paid
0.21
0.39
8.73
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $81.38 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
61.3%
Operating income / revenue.
EBITDA margin
68.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
43.6%
Pre-tax income / revenue.
Net margin
16.5%
Net income / revenue.
FCF margin
67.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
69.0%
Cash from operations / revenue.
Effective tax rate
11.2%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
10.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
2.7%
Net income / average total assets.
Return on invested capital (ROIC)
14.4%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
20.1%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
1.9%
Capital expenditures / revenue.
D&A / revenue
6.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
81.1%
Revenue vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
489.6%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
1,243.0%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
86.7%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
83.1%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
60.7%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
32.3%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
4.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
7.27x
Current assets / current liabilities.
Quick ratio
4.09x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
4.09x
(Cash + short-term investments) / current liabilities.
Debt / equity
1.51x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
38.9%
Total debt / total assets.
Liabilities / assets
39.6%
Total liabilities / total assets.
Net debt
$495.9M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
3.23x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
2.7%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.48
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$2.93
Revenue / diluted weighted shares.
FCF per share
$1.96
Free cash flow / diluted weighted shares.
Operating cash flow per share
$2.02
Cash from operations / diluted weighted shares.
Book value per share
$4.62
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Dividends paid / net income, when net income is positive.
Dividends / FCF
39.1%
Dividends paid / free cash flow, when free cash flow is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$6.27B
Share price x shares outstanding.
Enterprise value
$6.77B
Market cap + total debt - cash - short-term investments.
P/E
169x
Market cap / net income. Only when net income is positive.
P/S
27.8x
Market cap / revenue.
P/B
17.6x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
28.0x
Market cap / tangible book value, when positive.
P/FCF
41.5x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
40.3x
Market cap / cash from operations, when positive.
EV/Sales
30.0x
Enterprise value / revenue.
EV/EBIT
48.9x
Enterprise value / operating income, when both are positive.
EV/EBITDA
44.1x
Enterprise value / EBITDA, when both are positive.
EV/FCF
44.7x
Enterprise value / free cash flow, when both are positive.
FCF yield
2.4%
Free cash flow / market cap.
Earnings yield
0.6%
Net income / market cap (the inverse of P/E).
Dividend yield
0.9%
Dividends paid over the period / market cap.
Shareholder yield
0.9%
(Dividends paid + share buybacks) / market cap.
What was LandBridge Co LLC's revenue in fiscal 2025?
LandBridge Co LLC reported revenue of $199.1M for fiscal 2025, 81.1% higher than the year before.
Was LandBridge Co LLC profitable in fiscal 2025?
Yes. Net income was $30.1M, a net margin of 15.1%.
How much free cash flow did LandBridge Co LLC generate in fiscal 2025?
Cash from operations of $126.3M minus capital expenditures of $4.2M left free cash flow of $122.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.