Tearsheet

LandBridge (LB)

Market Price (12/29/2025): $51.8 | Market Cap: $1.3 Bil
Sector: Energy | Industry: Oil & Gas Equipment & Services

LandBridge (LB)

Market Price (12/29/2025): $51.8
Market Cap: $1.3 Bil
Sector: Energy
Industry: Oil & Gas Equipment & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%, Dividend Yield is 4.6%, FCF Yield is 8.5%	Meaningful short interest Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.81, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 11x, P/EPrice/Earnings or Price/(Net Income) is 54x
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 97%		Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 25%
2	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 57%		Key risks LB key risks include [1] significant concerns regarding its financial credibility and corporate governance, Show more.
3	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 63%
4	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -29%
5	Megatrend and thematic drivers Megatrends include E-commerce Logistics & Data Centers. Themes include E-commerce Logistics REITs, Data Center REITs, and Cold Storage Facilities.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%, Dividend Yield is 4.6%, FCF Yield is 8.5%
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 97%
2	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 57%
3	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 63%
4	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -29%
5	Megatrend and thematic drivers Megatrends include E-commerce Logistics & Data Centers. Themes include E-commerce Logistics REITs, Data Center REITs, and Cold Storage Facilities.
6	Meaningful short interest Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.81, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%
7	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 11x, P/EPrice/Earnings or Price/(Net Income) is 54x
8	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 25%
9	Key risks LB key risks include [1] significant concerns regarding its financial credibility and corporate governance, Show more.

Valuation, Metrics & Events

	12/29/25	2024	2023	2022
Share Price CYE	$51.80	$64.18
Market Cap CYE ($ Bil)	1.3	1.5	-	-
Total Debt ($ Bil)	0.4	0.4	0.1	0.1
Total Cash ($ Bil)	0.0	0.0	0.0	0.0
Enterprise Value ($ Bil)	1.7	1.9
Valuation Ratios
P/S TTM	7.3	10.5	-	-
P/EBIT TTM	12.8	-70.7	-	-
P/E TTM	53.5	225.1	-	-
P/FCF TTM	11.7	17.3	-	-
Sector Ratios
P/S TTM (Sector)	1.3	1.5	1.5	1.2
P/EBIT TTM (Sector)	7.6	6.7	5.6	3.9
P/E TTM (Sector)	11.3	10.3	8.3	5.2
P/FCF TTM (Sector)	6.6	6.8	7.4	4.8

	12/29/25	2024	2023
Share Price CYE	$51.80	$64.18
Market Cap CYE ($ Bil)	1.3	1.5	-
Total Debt ($ Bil)	0.4	0.4	0.1
Total Cash ($ Bil)	0.0	0.0	0.0
Enterprise Value ($ Bil)	1.7	1.9
Valuation Ratios
P/S TTM	7.3	10.5	-
P/EBIT TTM	12.8	-70.7	-
P/E TTM	53.5	225.1	-
P/FCF TTM	11.7	17.3	-
Sector Ratios
P/S TTM (Sector)	1.3	1.5	1.5
P/EBIT TTM (Sector)	7.6	6.7	5.6
P/E TTM (Sector)	11.3	10.3	8.3
P/FCF TTM (Sector)	6.6	6.8	7.4

	LB	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.2
Rev Chg Q	78.4%	7.3%
Rev Chg LTM	96.7%	6.1%
Rev Chg 3Y Avg	61.8%	5.5%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	57.3%	18.8%
CFO/Rev LTM	64.4%	20.4%
Net Inc Mgn	13.7%	13.1%
VALUATION	HIGH
P/S	7.3	3.3
P/CFO	11.4	15.8
P/FCF	11.7	20.7
P/E	53.5	23.7
STABILITY	FAIR
Debt/Equity	0.28	0.21
Cash/Assets	0.03	0.07

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Metric	Value	Date	Source
Total Surface Acreage	approximately 277,000 acres	8062025	Link
Fee-Based Revenue Percentage	94%	8082025	Link
Net Royalty Production	814 boe/d	6302025	Link
Produced Water Royalty Volumes	1,380,426 barrels per day	6302025	Link
Sand Royalty Volumes	9,162 tons per day	6302025	Link
Reserved Pore Space Capacity	300,000 barrels per day	8062025	Link

Upcoming
3/04/2026	Earnings Release	Rev: - EPS: -

LB Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are the key points highlighting why LandBridge (LB) stock experienced downward pressure, which could result in a movement such as -1.9% for the approximate time period from August 31, 2025, to December 29, 2025:

1. LandBridge's Q3 2025 Earnings Miss: The company reported its third-quarter 2025 earnings on November 12, 2025, with an Earnings Per Share (EPS) of $0.26, significantly missing analysts' consensus estimates of $0.70 by $0.44. Despite revenue exceeding expectations, this substantial EPS miss led to a 7.97% decline in the stock's after-hours trading.

2. Secondary Public Offering of Class A Shares: On November 17, 2025, LandBridge announced and priced a secondary public offering of Class A Shares. Such offerings can dilute the value of existing shares, which often contributes to downward pressure on the stock price.

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Stock Movement Drivers

Fundamental Drivers

The -4.6% change in LB stock from 9/28/2025 to 12/28/2025 was primarily driven by a -21.9% change in the company's P/E Multiple.

	9282025	12282025	Change
Stock Price ($)	54.46	51.96	-4.59%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	156.47	178.81	14.28%
Net Income Margin (%)	12.19%	13.72%	12.51%
P/E Multiple	68.72	53.67	-21.89%
Shares Outstanding (Mil)	24.07	25.34	-5.26%
Cumulative Contribution			-4.85%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025

	Return	Correlation
LB	-4.6%
Market (SPY)	4.3%	45.4%
Sector (XLE)	-3.9%	57.1%

Fundamental Drivers

The -22.8% change in LB stock from 6/29/2025 to 12/28/2025 was primarily driven by a -36.6% change in the company's P/S Multiple.

	6292025	12282025	Change
Stock Price ($)	67.34	51.96	-22.84%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	134.89	178.81	32.56%
P/S Multiple	11.61	7.36	-36.59%
Shares Outstanding (Mil)	23.26	25.34	-8.94%
Cumulative Contribution			-23.46%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025

	Return	Correlation
LB	-22.8%
Market (SPY)	12.6%	35.6%
Sector (XLE)	4.5%	46.1%

Fundamental Drivers

The -19.3% change in LB stock from 12/28/2024 to 12/28/2025 was primarily driven by a -45.4% change in the company's Shares Outstanding (Mil).

	12282024	12282025	Change
Stock Price ($)	64.38	51.96	-19.30%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	90.91	178.81	96.69%
P/S Multiple	12.34	7.36	-40.34%
Shares Outstanding (Mil)	17.43	25.34	-45.39%
Cumulative Contribution			-35.93%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025

	Return	Correlation
LB	-19.3%
Market (SPY)	17.0%	49.6%
Sector (XLE)	7.1%	52.5%

Fundamental Drivers

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Market Drivers

12/29/2023 to 12/28/2025

	Return	Correlation
LB
Market (SPY)	48.4%	41.4%
Sector (XLE)	11.6%	43.4%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
LB Return	-	-	-	-	179%	-17%	131%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
LB Win Rate	-	-	-	-	71%	50%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
LB Max Drawdown	-	-	-	-	-1%	-24%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

LB has limited trading history. Below is the Energy sector ETF (XLE) in its place.

Unique Key	Event	XLE	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-26.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	36.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	116 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-60.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	153.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	660 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-31.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	46.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	1,201 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-57.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	137.1%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,858 days	1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 6/8/2022. A -26.9% loss requires a 36.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About LandBridge (LB)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Land is critical to energy development and production. We own approximately 220,000 surface acres in and around the Delaware sub-basin in the prolific Permian Basin, which is the most active region for oil and natural gas exploration and development in the United States. Access to expansive surface acreage is necessary for oil and natural gas development, solar power generation, power storage, data centers and non-hazardous oilfield reclamation and solid waste facilities. Further, the significant industrial economy that exists to service and support energy development requires access to surface acreage to support those activities. Our strategy is to actively manage our land and resources to support and encourage oil and natural gas development and other land uses that will generate long-term revenue and Free Cash Flow for us and returns to our shareholders. The Delaware Basin is the most active oil and natural gas development and production region of the prolific Permian Basin due to the abundant remaining oil and natural gas resources and low break-even cost of development. Activity in the Delaware Basin is dominated by large, generally publicly listed, well-capitalized producers. Our land is located predominantly in the heart of the Delaware Basin, along and near the regulatory divide of the Texas-New Mexico state border, which represents some of the most productive acreage in the Delaware Basin with a high concentration of hydrocarbons and growing drilling and completion activity. We believe that our strategic location positions us to capture additional revenues from the growth in infrastructure required to facilitate the development of these resources. We share a financial sponsor, Five Point, and our management team with WaterBridge. WaterBridge is one of the largest water midstream companies in the United States and operates a large-scale network of pipelines and other infrastructure in the Delaware Basin that, as of June 15, 2024, handled more than 2.0 million bpd of water associated with oil and natural gas production, consisting of 139 produced water handling facilities and approximately 3.4 million bpd of total handling capacity. WaterBridge operates primarily under long-term agreements with E&P companies to provide critical produced water handling throughout the full life cycle of its customers’ oil and natural gas wells. These relationships provide our shared management team visibility into key areas of oil and natural gas production and long-term trends, which we leverage to encourage and support the development of critical infrastructure on our land and generate additional revenue for us. Five Point and our management team formed LandBridge to acquire, manage and expand a strategic land position in the heart of the Delaware Basin to support the development of WaterBridge’s large-scale produced water handling infrastructure and to actively manage our land and resources to support and encourage broader industrial and commercial development. Since our formation, our management and Five Point have successfully started and expanded businesses that generate new and growing revenues for us by capturing and monetizing commercial activity both on and near our land. Examples of the benefits of these relationships include WaterBridge’s strategic partnership with Devon Energy, which supports the development of significant additional infrastructure on and around our land. We believe that WaterBridge’s future growth will continue to underpin increased revenues for us, into which we have significant visibility and that requires minimal investment by us. Additionally, Five Point formed Desert Environmental to develop non-hazardous oilfield reclamation and solid waste facilities on our land. We believe Desert Environmental will provide a responsible waste disposal solution to those operating on or near our surface and generate additional revenues for us that otherwise would have gone to other landowners. In addition to our relationships with WaterBridge and Desert Environmental, we have actively grown third-party revenues. We utilize a collaborative commercial approach with a diversified customer base to provide availability, timing and consistent terms for our customers’ development activities on our land. As a landowner, we benefit from these activities by charging fees and royalties based on our customers’ usage of our land and resources. Furthermore, the cost of development on our land is primarily borne by our customers, allowing us to benefit from their growth on our land while deploying minimal capital of our own. In furtherance of our strategy, we and WaterBridge entered into agreements with Texas Pacific Land Company (“TPL”), one of the largest landowners in Texas, to provide reciprocal crossing rights and produced water royalty and revenue sharing across an area of mutual interest that provides our customers (including WaterBridge) with greater development efficiency and enables them to increase their operations on our land. We generate multiple revenue streams from the use of our surface acreage, the sale of resources from our land and oil and gas royalties. • Surface Use Royalties and Revenues: We receive fees from our customers for the use of our surface acreage for their business operations, which currently include oil and natural gas development and production, produced water transportation and handling, pipeline and electrical infrastructure, a commercial fuel distribution facility and other commercial and industrial activities, including non-hazardous oilfield reclamation and solid waste facilities. This revenue stream will also include revenues generated from two solar facilities currently being developed on our land. • Resource Sales and Royalties: We receive fees from the sale of resources from our land, including sales of brackish water utilized in connection with oil and natural gas well completions, and royalties from sand extracted from our land for oil and natural gas operations. These resources are used by our customers in their projects on and around our land and elsewhere throughout the Delaware Basin. • Oil and Gas Royalties: We receive a share of recurring revenues from the production of oil and natural gas on our 4,180 gross mineral acres through our ownership of mineral interests, of which approximately 96% underlie our surface acreage. Other than our gross mineral acres, we do not own the mineral interests that underlie our surface acreage. Our principal executive offices are located at 5555 San Felipe Street, Suite 1200, Houston, Texas.

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Here are 1-2 brief analogies for LandBridge (symbol: LB):

It's the Union Pacific (UNP) of the energy sector, owning and operating the critical pipeline network for crude oil and natural gas.
It's like Consolidated Edison (ED), but instead of providing power and gas to homes, it offers the essential pipeline and storage grid for the oil and gas industry.

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Land Development Services: Providing comprehensive planning, design, and construction for residential, commercial, and industrial properties.
Infrastructure Project Management: Offering expertise in the planning, development, and oversight of large-scale transportation and utility infrastructure projects, such as roads and bridges.
Logistics & Supply Chain Solutions: Delivering integrated services for the efficient movement, storage, and distribution of goods across various land-based transportation networks.

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LandBridge (symbol: LB) sells primarily to other companies (B2B), specifically oil and gas exploration and production (E&P) companies that lease its mineral rights to develop and extract resources. LandBridge generates revenue from royalty payments, lease bonuses, and other fees associated with these activities.

Based on their Q1 2024 disclosures, LandBridge's major customers (operators by production) include:

EOG Resources (NYSE: EOG)
Permian Resources (NYSE: PR)
ConocoPhillips (NYSE: COP)
Devon Energy (NYSE: DVN)
Occidental Petroleum (NYSE: OXY)
Diamondback Energy (NASDAQ: FANG)

Other significant operators on LandBridge's acreage include Civitas Resources (NYSE: CIVI), Chevron (NYSE: CVX), and ExxonMobil (NYSE: XOM).

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Jason Long Chief Executive Officer and Director

Mr. Long is an oil and gas entrepreneur with over 16 years of experience founding and operating businesses that invest in and provide services across the upstream and midstream value chains. He was most recently President and founder of EnWater Solutions LLC and Pelagic Water Systems LLC, where he led the funding, construction, and commercialization of a produced water-gathering and disposal system in the Southern Delaware Basin. Mr. Long also serves as the Chief Executive Officer of WaterBridge. LandBridge was formed by Five Point Infrastructure LLC, a private equity firm, whose CEO and Managing Partner, David Capobianco, is the Chairman of LandBridge's board. This demonstrates Mr. Long's involvement with companies backed by private equity.

Scott L. McNeely Chief Financial Officer

Mr. McNeely joined LandBridge in September 2021 as Vice President, Finance. He also currently serves as Executive Vice President, Chief Financial Officer of WaterBridge since September 2024. Previously, he served as Senior Vice President, Finance of WaterBridge from July 2019 to August 2024, and Director of Finance of WaterBridge from April 2018 to June 2019. Given the association of WaterBridge with Five Point Infrastructure LLC, a private equity firm, through shared board members with LandBridge, this indicates Mr. McNeely's involvement with companies backed by private equity.

Jason Williams Executive Vice President & Chief Administrative Officer

Mr. Williams serves as the Executive Vice President and Chief Administrative Officer for LandBridge.

Harrison Bolling Executive Vice President & General Counsel

Mr. Bolling serves as the Executive Vice President and General Counsel for LandBridge.

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The key risks to LandBridge's business include significant concerns regarding its financial credibility and corporate governance, its fundamental reliance on the volatile energy sector within the Permian Basin, and the substantial execution and financing challenges tied to its diversification projects.

Governance Flaws, Questionable Revenue Recognition, and Related-Party Transactions: A prominent risk for LandBridge stems from allegations of governance flaws, including opaque revenue recognition practices and a lack of independent oversight from its audit committee. A report by Gotham City Research specifically questions up to 55% of LandBridge's 2024 revenue as dubious, citing practices such as recognizing a large deposit from a related party as revenue upon receipt rather than when earned. The report also highlights leadership instability, with key executives reportedly resigning post-IPO, further raising concerns about the company's credibility and long-term viability.
Reliance on Energy Sector Stability and Permian Basin Concentration: Despite efforts to diversify, LandBridge's cash flows and overall revenue model remain significantly tied to the stability and activity within the oil and gas sector, particularly within the Permian Basin where its land holdings are concentrated. This inherent dependency exposes the company to risks associated with fluctuating commodity prices, potential regulatory shifts concerning drilling and water disposal, and broader decarbonization trends.
Execution and Financing Risks of Diversification Efforts: LandBridge's growth trajectory is increasingly linked to its ability to execute strategic diversification projects, such as the agreement with NRG to explore building a natural gas power plant. However, these initiatives are subject to considerable execution and financing risks, including the possibility that the NRG agreement may not proceed, or that delays in permitting, interconnection, or securing power purchase agreements could significantly impact financial performance. The company's current valuation is also seen by some as pricing in flawless execution and successful future diversification that are not yet proven.

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The global energy transition, driven by increasing policy and regulatory pressures, technological advancements in renewable energy, and growing investor and consumer demand for decarbonization, poses a clear emerging threat to LandBridge. As an operator of oil and gas pipelines, LandBridge's long-term profitability and asset utilization are fundamentally tied to the sustained demand for fossil fuels. The accelerating shift towards lower-carbon energy sources and electrification threatens to gradually erode this demand, potentially leading to reduced throughput volumes, constrained opportunities for expansion, and an increased risk of stranded assets over time, similar to how changing consumer habits and technology disrupted Blockbuster or BlackBerry.

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LandBridge (LB) operates primarily in the Permian Basin, managing land and resources to support energy, industrial, renewable energy, and digital infrastructure development in the United States, specifically in Texas and New Mexico. The addressable markets for their main products and services are sizable and growing. Here's an overview of the addressable markets for LandBridge's main products and services: * Oil and Gas Land and Infrastructure Support: LandBridge's significant land holdings in the Permian Basin support extensive oil and natural gas development. The Permian Basin's crude oil production was 5,790 thousand barrels of oil per day (mbd) and natural gas production was 19,315 million cubic feet per day (mmcfd) in 2023. Projections indicate continued growth, with crude oil output expected to reach 6.6 million b/d and natural gas 25.8 billion cubic feet per day in 2025, primarily in West Texas and southeastern New Mexico. This robust production underscores a substantial and continuous demand for land and infrastructure to facilitate exploration, production, and transportation in the Permian Basin. * Produced Water Management: The market for produced water management in the Permian Basin alone is estimated to be approximately $12 billion for disposal and treatment. The global produced water treatment systems market is projected to be valued at US$5.4 billion in 2025 and is expected to grow to US$7.5 billion by 2032, with North America holding about 44% of the revenue share. In 2024, the Permian Basin produced over 20 million barrels of water per day, a figure projected to exceed 26 million by 2030. * Frac Sand (Proppant) Sales: The North America frac sand market was valued at USD 2 billion in 2023 and is anticipated to reach USD 1.811 billion in 2025. The Permian Basin accounts for a substantial portion of this demand, with its share nearing 50% by 2023. * Land for Solar Development: Texas is a leading region for utility-scale solar installations. As of mid-2025, the state has over 37 GW of installed solar capacity. Texas is expected to add an additional 7.2 GW of capacity by the end of 2024, contributing to an estimated total of 100 GW of new solar capacity over the next decade. This expansion will require between 500,000 and 700,000 acres of land. Landowners in Texas are projected to collect $29.5 billion in lease payments over the lifetime of renewable projects. * Land for Digital Infrastructure (Data Centers): Texas is the second-largest data center market in the United States and is attracting significant investment, particularly for AI infrastructure. A proposed project in Texas for AI infrastructure is valued at up to $500 billion, with an initial investment of $100 billion. Furthermore, a single land option purchase agreement for a large-scale AI data center campus in Lea County, New Mexico, involves approximately 3,500 acres. This indicates a robust and rapidly expanding market for land to support data center development in Texas and New Mexico.

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LandBridge (LB) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

Strategic Expansion and Partnerships in the Permian Basin: LandBridge's strategy includes expanding its acreage, particularly within the Permian Basin, through acquisitions and strategic partnerships. For instance, the company closed an acquisition in February 2025 for approximately 3,000 acres in Lea County, New Mexico, increasing its total acreage to around 276,000 acres. Additionally, a 10-year surface use and pore space reservation agreement with Devon Energy is expected to contribute to revenue, with an obligation for Devon to deliver at least 175,000 barrels per day of produced water starting in Q2 2027. A minimum annual revenue commitment of $25 million for five years from VTX and its affiliates, covering surface operations, brackish water, and produced water royalties, also underpins future growth.
Growth in Surface Use Royalties and Fee-Based Arrangements: The company has successfully shifted its revenue mix towards fee-based arrangements, which accounted for a record 94% of total revenues in Q2 2025, providing more reliable recurring revenue less exposed to commodity price fluctuations. This growth is driven by increased easements, new projects, and overall commercial activity on its acreage, including higher produced water volumes.
Development of Digital Infrastructure: LandBridge sees significant future growth opportunities from digital infrastructure, driven by the rapid development of AI and the need for data centers requiring cheap power and water for cooling. The company signed its first lease development agreement for a data center in November 2024 and executed an option agreement for a natural gas-fired CCGT plant on its Reeves County acreage to service future data center demand. This focus positions its West Texas acreage to support energy-intensive customers.
Contribution from Renewable Energy Projects: LandBridge anticipates revenue contributions from renewable energy initiatives, specifically mentioning initial solar facility contributions to surface use revenues. The company also sold a solar project to an energy infrastructure developer in Texas, indicating ongoing activity in this sector.
Increased Resource Sales and Royalties: While subject to some fluctuations, resource sales and royalties, including brackish water and sand volumes, are expected to contribute to revenue growth, particularly from newly acquired acreage. The company's produced water royalty volumes reached 1,380,426 barrels per day in Q2 2025, and sand royalty volumes continued to increase to 9,162 tons per day in Q2 2025.

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Here is a summary of LandBridge's capital allocation decisions over the last 3-5 years:

Share Issuance

LandBridge closed its initial public offering (IPO) on July 1, 2024, issuing 14,500,000 Class A shares at $17.00 per share.
Underwriters fully exercised their option to purchase an additional 2,175,000 Class A shares at $17.00 per share.
A concurrent private placement resulted in the sale of 750,000 Class A shares at $17.00 per share to an accredited investor, generating approximately $270.9 million in net proceeds from the offering and private placement.

Outbound Investments

On October 3, 2025, LandBridge announced an agreement to acquire approximately 37,500 total acres in Texas for $250.0 million, comprising $208.3 million in cash and $41.7 million in equity. This acquisition is expected to close in the fourth quarter of 2025.

Capital Expenditures

Capital expenditures for the second quarter of 2025 were $1.2 million.
Capital expenditures for the first quarter of 2025 were $0.1 million.
The company operates with a "capital-light" business model, with capital expenditures primarily focused on water wells, pipelines, and land acquisitions.

	Best Bets In Energy Sector
What You Pay
P/E	53.7	41.6	17.9	11.7	11.0	30.4	12.0	18.3	18.9	30.7	10.1
P/EBIT	12.9	33.9	10.1	8.7	9.4	17.0	8.8	12.3	10.8	15.7	7.7
What You Get
Rev Chg Q	78.4%	17.0%	8.7%	-2.5%	-12.8%	26.6%	33.7%	-10.0%	49.8%	10.2%	-2.3%
Rev Chg LTM	96.7%	12.5%	8.7%	0.7%	-23.6%	20.4%	25.1%	-3.8%	64.8%	9.0%	-5.0%
Rev Chg 3Y Avg	�	5.7%	9.0%	-6.6%	16.7%	9.6%	-5.3%	22.9%	-2.8%	0.8%	-7.6%
FCF/Rev 3Y Avg	62.9%	47.9%	46.6%	33.7%	29.6%	25.8%	24.8%	23.5%	23.5%	22.5%	22.1%

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	LandBridge Earnings Notes
2	Would You Still Hold LandBridge Stock If It Fell Another 30%?	Return
3	Why LandBridge Stock Moved: LB Stock Has Lost 18% Since 2024 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
4	LandBridge (LB) Valuation Ratios Comparison	Financials
5	LandBridge (LB) Operating Cash Flow Comparison	Financials
6	LandBridge (LB) Net Income Comparison	Financials
7	LandBridge (LB) Operating Income Comparison	Financials
8	LandBridge (LB) Revenue Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select ideas related to LB. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	12.1%	12.1%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	6.4%	6.4%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.4%	5.4%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	28.1%	28.1%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-4.9%	-4.9%	-7.1%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for LandBridge

Peers to compare with:

Financials

	LB	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	LandBrid.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	51.96	23.26	24.49	305.09	78.16	273.40	65.06
Mkt Cap	1.3	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	179	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	102	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	112	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	71	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	115	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	74	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	LB	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	LandBrid.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	96.7%	3.2%	13.8%	4.5%	8.9%	6.0%	7.4%
Rev Chg 3Y Avg	-	-3.9%	6.5%	2.6%	3.7%	1.8%	2.6%
Rev Chg Q	78.4%	4.2%	14.4%	9.1%	7.5%	9.6%	9.4%
QoQ Delta Rev Chg LTM	14.3%	1.1%	3.7%	2.1%	1.8%	2.1%	2.1%
Op Mgn LTM	57.3%	6.6%	4.8%	17.7%	22.5%	31.9%	20.1%
Op Mgn 3Y Avg	40.0%	7.4%	7.2%	16.4%	24.2%	30.8%	20.3%
QoQ Delta Op Mgn LTM	9.5%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	64.4%	6.7%	8.5%	20.6%	23.8%	26.6%	22.2%
CFO/Rev 3Y Avg	65.3%	6.8%	12.7%	21.4%	26.1%	28.4%	23.8%
FCF/Rev LTM	62.8%	5.1%	1.8%	18.1%	22.1%	23.5%	20.1%
FCF/Rev 3Y Avg	62.9%	5.5%	4.6%	18.6%	24.6%	25.6%	21.6%

Valuation

	LB	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	LandBrid.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	1.3	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	7.4	0.4	1.0	4.4	5.4	10.0	4.9
P/EBIT	12.9	6.8	19.9	25.1	22.5	31.3	21.2
P/E	53.7	8.6	572.7	36.0	29.9	41.0	38.5
P/CFO	11.4	5.9	11.2	21.1	22.5	37.5	16.3
Total Yield	6.4%	14.1%	2.3%	5.0%	5.4%	2.8%	5.2%
Dividend Yield	4.6%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	-	10.6%	5.5%	6.4%	6.0%	3.1%	6.0%
D/E	0.3	0.5	0.7	0.2	0.1	0.0	0.3
Net D/E	0.3	0.3	0.6	0.2	0.0	0.0	0.2

Returns

	LB	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	LandBrid.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	-8.8%	-3.6%	12.7%	-1.1%	1.6%	-2.0%	-1.5%
3M Rtn	-4.6%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	-22.8%	-4.0%	34.5%	6.6%	15.2%	36.3%	10.9%
12M Rtn	-19.3%	-27.0%	16.2%	40.5%	34.5%	7.5%	11.8%
3Y Rtn	126.2%	-3.7%	67.3%	141.3%	79.6%	114.1%	96.9%
1M Excs Rtn	-9.7%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-3.0%
3M Excs Rtn	-8.9%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	-35.1%	-16.3%	22.3%	-5.7%	3.0%	24.0%	-1.3%
12M Excs Rtn	-26.6%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	-4.6%
3Y Excs Rtn	44.9%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	13.6%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022
Filing Date	11/12/2025	3/6/2025	6/28/2024	6/28/2024
Key Financials
Total Revenue	179	110	73	52
EBITDA	112	-7	79	4
Operating Income	102	-17	70	-3
Net Income	25	5	63	-6
EPS	0.99	0.28	4.36	-0.44
Growth Rates
Total Revenue Growth	96.7%	50.9%	40.7%	-
EBITDA Growth	660.3%	-109.4%	2080.1%	-
Operating Income Growth	452.0%	-123.6%	2266.1%	-
Net Income Growth	158.8%	-91.9%	1093.1%	-
Margins
EBITDA Margin	62.8%	-6.8%	108.6%	7.0%
Operating Income Margin	57.3%	-15.0%	96.1%	-6.2%
Net Income Margin	13.7%	4.6%	86.7%	-12.3%
Cash & Debt
Total Cash	28	37	38	16
Total Debt	367	381	129	58
Net Debt / (Cash)	339	344	91	41
Cash Flows
Net Cash from Operations	115	68	53	20
Free Cash from Operations	112	67	50	17
Returns to Shareholders
Dividends	60	178	105	1
Share Repurchases	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/12/2025	8/5/2025	5/8/2025	3/6/2025	11/7/2024	8/8/2024	6/28/2024	6/28/2024	2/14/2024	8/8/2024	6/28/2024	6/28/2024
Key Financials Quarterly
Total Revenue	51	48	44	36	28	26	19	17	18	22	16	16
Ebitda	33	31	28	20	5	-49	16	8	22	47	2	5
Operating Income	31	29	25	18	3	-51	14	5	19	45	0	3
Net Income	8	8	6	2	3	-58	11	3	17	45	-1	2
EPS	0.31	0.30	0.27	0.11	0.15	-3.31	0.74	0.17	1.15	3.08	-0.04	0.17
Key Financials TTM
Total Revenue TTM	179	156	135	110	91	80	76	73	72	-	-	-
Ebitda TTM	112	84	4	-8	-20	-3	93	79	76	-	-	-
Operating Income TTM	102	75	-5	-17	-29	-13	83	70	68	-	-	-
Net Income TTM	25	19	-46	-42	-42	-28	75	63	63	-	-	-
Growth Rates Quarterly
Total Revenue Growth	78.4%	83.2%	131.2%	109.1%	60.0%	19.5%	19.7%	7.7%	-	-	-	-
EBITDA Growth	540.6%	163.7%	73.8%	164.3%	-76.5%	-202.9%	737.6%	59.3%	-	-	-	-
Operating Income Growth	869.1%	155.6%	85.2%	232.2%	-83.3%	-213.0%	8403.1%	68.6%	-	-	-	-
Net Income Growth	205.2%	113.0%	-40.0%	-2.7%	-84.0%	-229.1%	1765.5%	2.6%	-	-	-	-
Margins Quarterly
EBITDA Margin	65.8%	65.4%	62.9%	55.3%	18.3%	-188.1%	83.7%	43.7%	124.7%	218.4%	12.0%	29.6%
Operating Income Margin	60.8%	60.0%	57.0%	49.4%	11.2%	-197.4%	71.1%	31.1%	107.3%	208.6%	1.0%	19.8%
Net Income Margin	15.9%	15.8%	14.7%	6.7%	9.3%	-222.1%	56.7%	14.4%	93.4%	205.6%	-4.1%	15.2%
Cash & Debt
Total Cash	28	20	15	37	14	25	5	38	17	-	-	16
Total Debt	367	371	376	381	278	396	295	129	118	0	0	58
Net Debt / (Cash)	339	351	361	344	264	371	291	91	101	-	-	41
Cash Flows Quarterly
FCF from Operations	35	37	16	27	7	16	17	12	16	12	12	12
Cash Flows TTM
FCF from Operations TTM	115	88	66	68	53	62	58	53	52	-	-	-
Returns to Shareholders Quarterly
Dividends	15	24	14	7	171	0	0	0	82	10	13	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	18.4%	16.9%	25.2%	15.6%	3.4%	-55.2%	18.4%	23.3%	75.1%	-	-	30.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	15.1%	10.9%	-1.4%	-4.8%	-10.9%	-3.6%	28.5%	76.6%	66.7%	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2024
Single Segment	73
Total	73

Price Behavior

Price Behavior

Market Price	$51.96
Market Cap ($ Bil)	1.3
First Trading Date	06/28/2024
Distance from 52W High	-39.2%
	50 Days	200 Days
DMA Price	$59.50	$58.23
DMA Trend	down	up
Distance from DMA	-12.7%	-10.8%
	3M	1YR
Volatility	73.4%	68.7%
Downside Capture	363.06	235.06
Upside Capture	270.77	178.87
Correlation (SPY)	44.8%	49.2%

LB Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	3.17	2.93	2.39	2.07	1.76	-0.35
Up Beta	-0.93	0.19	0.87	1.38	1.40	-0.34
Down Beta	6.12	3.74	3.80	2.43	1.93	-0.90
Up Capture	377%	401%	235%	157%	262%	110%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	11	26	36	62	127	194
Down Capture	376%	297%	216%	241%	148%	96%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	16	27	62	120	160

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

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Based On 5-Year Data

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Based On 10-Year Data

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Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	3,503,495
Short Interest: % Change Since 11302025	-0.4%
Average Daily Volume	296,624
Days-to-Cover Short Interest	11.81
Basic Shares Quantity	25,335,054
Short % of Basic Shares	13.8%

Returns Analyses

	Title
0	Would You Still Hold LandBridge Stock If It Fell Another 30%?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/12/2025	-10.3%	-20.7%	-35.7%
8/7/2025	1.4%	5.5%	0.9%
3/5/2025	-5.9%	5.8%	1.5%
11/7/2024	11.6%	14.7%	4.3%
8/7/2024	-0.5%	4.5%	7.7%
SUMMARY STATS
# Positive	2	4	4
# Negative	3	1	1
Median Positive	6.5%	5.7%	2.9%
Median Negative	-5.9%	-20.7%	-35.7%
Max Positive	11.6%	14.7%	7.7%
Max Negative	-10.3%	-20.7%	-35.7%

	Forward Returns
11/12/2025	-10.3%	-20.7%	-35.7%
8/7/2025	1.4%	5.5%	0.9%
3/5/2025	-5.9%	5.8%	1.5%
11/7/2024	11.6%	14.7%	4.3%
8/7/2024	-0.5%	4.5%	7.7%
SUMMARY STATS
# Positive	2	4	4
# Negative	3	1	1
Median Positive	6.5%	5.7%	2.9%
Median Negative	-5.9%	-20.7%	-35.7%
Max Positive	11.6%	14.7%	7.7%
Max Negative	-10.3%	-20.7%	-35.7%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11122025	10-Q 9/30/2025
6302025	8052025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	3062025	10-K 12/31/2024
9302024	11072024	10-Q 9/30/2024
6302024	8082024	10-Q 6/30/2024
12312023	6282024	424B4 12/31/2023
9302023	2142024	DRS/A 9/30/2023

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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LandBridge (LB)

Market Price (12/29/2025): $51.8 | Market Cap: $1.3 BilSector: Energy | Industry: Oil & Gas Equipment & Services

LandBridge (LB)

Market Price (12/29/2025): $51.8Market Cap: $1.3 BilSector: EnergyIndustry: Oil & Gas Equipment & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

LB Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About LandBridge (LB)

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than LandBridge (LB)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

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Market Price (12/29/2025): $51.8 | Market Cap: $1.3 Bil
Sector: Energy | Industry: Oil & Gas Equipment & Services

Market Price (12/29/2025): $51.8
Market Cap: $1.3 Bil
Sector: Energy
Industry: Oil & Gas Equipment & Services