WaterBridge Infrastructure LLC (WBI)
WaterBridge Infrastructure LLC brought in $867.8M of revenue over the twelve months to September 30, 2026. Net income was $6M, a net margin of 0.7%. In fiscal 2025 capital spending exceeded operating cash flow by $118.9M. At September 30, 2026 it held $34.7M in cash against $1.8B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 5, 2026.
Key facts about WaterBridge Infrastructure LLC
- Net worth
- WaterBridge Infrastructure LLC has a market value (market cap) of $3.2B at the latest share price, and shareholders' equity of $766.4M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $525.6M (+66.2% year on year), with net income of $9K. Over the 12 months to September 30, 2026: revenue $867.8M, net income $6M.
- Cash flow
- In fiscal 2025 operations brought in $159.7M of cash; after $278.6M of capital spending, free cash flow was -$118.9M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 5, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- WaterBridge Infrastructure LLC's next report is expected around March 15, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What WaterBridge Infrastructure LLC does
WaterBridge Infrastructure LLC is registered with the SEC under industry code SIC 1389 (Oil & Gas Field Services, NEC). Its shares trade on NYSE under the ticker WBI.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $525.6M | $9K | n/a | -$118.9M |
| 2025 | $316.3M | $3M | n/a | -$86.1M |
| 2023 | $200.8M | $14.7M | n/a | -$99.5M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where WBI ranks in Energy
Latest SEC filings
What WaterBridge Infrastructure LLC has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 6, 2026Passive stake changed SCHEDULE 13G/A
- November 6, 2026Passive stake changed SCHEDULE 13G/A
- November 5, 2026Passive stake changed SCHEDULE 13G/A
- November 5, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 95% to $240.2M versus the same quarter last year; diluted EPS $0.10 versus -$0.02.
- November 4, 2026
- November 2, 2026Passive stake changed SCHEDULE 13G/A
- October 7, 2026Passive stake changed SCHEDULE 13G/A
- October 1, 2026
- October 1, 2026
- September 21, 2026Executive or director change8-KJason Williams notified WaterBridge Infrastructure of his plan to retire in July 2027.
Insider trades
What the people running WaterBridge Infrastructure LLC did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 9 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 18, 2026 | Long Jason ThomasChief Executive Officer, Director | Shares withheld for tax | 18,036 | $556.6K |
| September 18, 2026 | Reitz Michael Howard JRSee Remarks | Shares withheld for tax | 12,461 | $384.5K |
| September 18, 2026 | McNeely Scott LloydExecutive VP, CFO | Shares withheld for tax | 9,838 | $303.6K |
| September 18, 2026 | Bolling Harrison FennerExecutive VP and GC | Shares withheld for tax | 9,182 | $283.4K |
| September 18, 2026 | Williams Jason FrederickExecutive VP, CAO | Shares withheld for tax | 9,182 | $283.4K |
| September 18, 2026 | Crane James RDirector | Received as pay | 4,536 | - |
| September 18, 2026 | Daily Gregory SDirector | Received as pay | 4,536 | - |
| September 18, 2026 | Carrig JanetDirector | Received as pay | 4,536 | - |
Who owns WBI
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| David Capobianco13G, passive with 11 related filers | 52.1% | June 26, 2026 |
| Devon WB Holdco L.L.C.13G, passive with 3 related filers | 22.4% | August 13, 2026 |
| Horizon Kinetics Asset Management LLC13G, passive with 1 related filers | 17% | April 29, 2026 |
| T. Rowe Price Investment Management, Inc.13G, passive | 11.4% | July 8, 2026 |
| ALPS Advisors, Inc.13G, passive with 1 related filers | 9.96% | October 7, 2026 |
| Fmr LLC13G, passive with 1 related filers | 8.5% | November 5, 2025 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 163 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Devon Energy Corp | 16,002,051 | -1,755,174 |
| Alps Advisors Inc | 9,851,493 | new |
| Horizon Kinetics Asset Management LLC | 7,650,237 | +308,090 |
| Fmr LLC | 3,869,296 | -94,478 |
| Hood River Capital Management LLC | 1,960,405 | +1,339,831 |
| UBS Group AG | 1,935,231 | +1,607,570 |
| Schwartz Investment Counsel Inc | 1,681,789 | +78,760 |
| Capital Research Global Investors | 1,497,559 | new |
| Tensile Capital Management LP | 1,082,533 | +97,959 |
| Ameriprise Financial Inc | 1,074,786 | -104,739 |
| Emory University | 1,001,685 | +1,685 |
| Jpmorgan Chase & Co | 905,080 | +863,196 |
| Balyasny Asset Management L.P. | 831,453 | +812,377 |
| Jennison Associates LLC | 821,534 | +497,611 |
| First Manhattan Co. LLC. | 803,720 | 0 |
| William Blair Investment Management, LLC | 783,780 | new |
| Marshall Wace, Llp | 705,798 | +32,808 |
| Hill City Capital, LP | 700,000 | 0 |
| Ranger Investment Management, L.P. | 682,262 | -242,308 |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT | 620,000 | +417,500 |
Insiders
12 insiders reported holding 331,205,249 shares in total, about $8.58B at the last price.
| Holder | Shares |
|---|---|
| Capobianco David NDirector, 10% owner | 109,970,261109,970,261 held indirectly |
| WaterBridge Resources LLC10% owner | 109,970,261109,970,261 held indirectly |
| WBR Holdings LLC10% owner | 109,970,261109,970,261 held indirectly |
| Long Jason ThomasChief Executive Officer, Director | 311,793 |
| Reitz Michael Howard JRSee Remarks | 226,868 |
| Crane James RDirector | 211,036 |
| McNeely Scott LloydSee Remarks | 175,593 |
| Bolling Harrison FennerSee Remarks | 164,704 |
| Williams Jason FrederickExecutive VP, CAO | 90,704 |
| Daily Gregory SDirector | 86,036 |
Questions about WBI
What does WaterBridge Infrastructure LLC do?
WaterBridge Infrastructure LLC is a company in the Energy sector, listed on NYSE as WBI. Its shares trade on NYSE under the ticker WBI.
What is WaterBridge Infrastructure LLC's net worth?
WaterBridge Infrastructure LLC has a market value (market cap) of $3.2B at the latest share price, and shareholders' equity of $766.4M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is WaterBridge Infrastructure LLC profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $6M on revenue of $867.8M, a net margin of 0.7%.
How much revenue does WaterBridge Infrastructure LLC make?
Over the twelve months to September 30, 2026 WaterBridge Infrastructure LLC reported revenue of $867.8M.
When did WaterBridge Infrastructure LLC last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 5, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the passive stake changed from November 6, 2026.
When is WaterBridge Infrastructure LLC's next earnings report?
WaterBridge Infrastructure LLC's next report is expected around March 15, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values WaterBridge Infrastructure LLC tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.