LB (LandBridge Company LLC) Stock Financials & Earnings | Market Cap Arena

LB (LandBridge Company LLC) Stock Financials & Earnings | Market Cap Arena

LBLandBridge Company LLC

Mkt Cap$6B

Energy·Oil & Gas Equipment & Services·🇺🇸 United States·NYSE

Revenue (TTM)$199M

Net Income (TTM)$30M

EPS (TTM)$1.08

Free Cash Flow (TTM)$141M

Gross Margin91.0%

Op. Margin31.4%

Net Margin15.0%

FCF Margin70.7%

P/S Ratio (TTM)28.9x

P/E Ratio (TTM)192.4x

YoY Rev Growth+81.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$16M	$15M	$159K
Q2 23	$22M	$21M	$45M
Q3 23	$18M	$17M	$19M
Q4 23	$37M	$35M	$25M
Q1 24	$19M	$16M	$14M
Q2 24	$26M	$23M	-$51M
Q3 24	$28M	$26M	$3M
Q4 24	$36M	$34M	$18M
Q1 25	$44M	$41M	$25M
Q2 25	$48M	$43M	$29M
Q3 25	$51M	$48M	-$31M
Q4 25	$57M	$49M	$40M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	—	—
Q2 23	—	—
Q3 23	80.3x	91.2x
Q4 23	61.9x	506.8x
Q1 24	59.9x	252.6x
Q2 24	57.4x	—
Q3 24	51.9x	—
Q4 24	52.3x	—
Q1 25	42.7x	—
Q2 25	36.8x	305.2x
Q3 25	32.2x	236.7x
Q4 25	28.9x	192.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$12M	$10M
Q2 23	$12M	$12M
Q3 23	$16M	$16M
Q4 23	$12M	$12M
Q1 24	$17M	$17M
Q2 24	$16M	$16M
Q3 24	$7M	$7M
Q4 24	$27M	$27M
Q1 25	$16M	$16M
Q2 25	$37M	$36M
Q3 25	$35M	$34M
Q4 25	$38M	$55M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$2M
Q2 23	$780K
Q3 23	$234K
Q4 23	$149K
Q1 24	$89K
Q2 24	$369K
Q3 24	$303K
Q4 24	$224K
Q1 25	$69K
Q2 25	$1M
Q3 25	$1M
Q4 25	$17M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 23	+131.2%	-3.3%
Q1 24	+19.7%	-65.1%
Q2 24	+19.5%	+427.1%
Q3 24	+60.0%	+2038.7%
Q4 24	-2.7%	+47.0%
Q1 25	+131.2%	+244.3%
Q2 25	+83.2%	-75.3%
Q3 25	+78.4%	+223.0%
Q4 25	+55.6%	-9.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$11M	70.7%
Q2 23	-$29M	-132.3%
Q3 23	-$7M	-39.0%
Q4 23	$7M	19.2%
Q1 24	$810K	4.3%
Q2 24	$72M	276.5%
Q3 24	$12M	40.8%
Q4 24	$11M	30.5%
Q1 25	$11M	25.3%
Q2 25	$11M	23.7%
Q3 25	$11M	22.1%
Q4 25	$0	—

OpEx Breakdown

Quarter	G&A
Q1 23	$12M
Q4 23	$9M
Q1 24	$2M
Q2 24	$74M
Q3 24	$22M
Q4 24	$14M
Q1 25	$15M
Q2 25	$15M
Q3 25	$16M
Q4 25	$17M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$25M	$0	$25M
Q1 23	$0	$0	$0
Q3 23	$17M	$0	$17M
Q4 23	$38M	$0	$38M
Q1 24	$9M	$0	$9M
Q2 24	$25M	$0	$25M
Q3 24	$14M	$0	$14M
Q4 24	$37M	$0	$37M
Q1 25	$15M	$0	$15M
Q2 25	$20M	$0	$20M
Q3 25	$28M	$0	$28M
Q4 25	$31M	$0	$31M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	15M	+0.0%
Q2 23	15M	+0.0%
Q3 23	15M	+0.0%
Q4 23	15M	+0.0%
Q1 24	15M	+0.0%
Q2 24	17M	+20.2%
Q3 24	73M	+319.8%
Q4 24	75M	+2.4%
Q1 25	76M	+2.1%
Q2 25	76M	-0.1%
Q3 25	77M	+0.2%
Q4 25	28M	-63.6%