(LB) LandBridge - Overview
Sector: Energy | Industry: Oil & Gas Equipment & Services | Exchange: NYSE (USA) | Market Cap: 6.056m USD | Total Return: -0.5% in 12m
Avg Turnover: 28.2M
Qual. Beats: 0
Rev. Trend: 99.5%
Warnings
P/E ratio 81.1
Altman Z'' 1.05 < 1.0 - financial distress zone
Choppy
Tailwinds
Idiosyncratic Leader
LandBridge Company LLC (LB) is a Houston-based real estate operating company that manages surface acreage and mineral resources specifically within the Delaware Basin of Texas and New Mexico. The company’s business model focuses on supporting oil and natural gas infrastructure through land ownership, the sale of brackish water, and the extraction of surface composite materials. Unlike traditional exploration firms, LB generates revenue by providing the physical space and raw materials necessary for third-party energy production.
The company also maintains a portfolio of oil and gas royalties, providing exposure to commodity production without the high capital expenditure associated with drilling operations. In the Permian Basin, land management companies often act as critical infrastructure partners by controlling rights-of-way for pipelines and managing the disposal of produced water. Investors may find ValueRays detailed analytics useful for evaluating the specific valuation metrics of this asset class. LandBridge operates as a subsidiary of LandBridge Holdings LLC and has been active in the region since its formation in 2021.
- Delaware Basin drilling activity levels dictate surface access and royalty revenue
- Industrial water sales volume scales with hydraulic fracturing intensity in West Texas
- Infrastructure development projects on surface acreage drive long-term lease income
- Commodity price fluctuations impact operator capital expenditures and royalty distributions
- Environmental regulations on Permian Basin land use affect operational expansion capacity
| Net Income: 41.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 5.55 > 1.0 |
| NWC/Revenue: 19.62% < 20% (prev 23.57%; Δ -3.96% < -1%) |
| CFO/TA 0.11 > 3% & CFO 151.5m > Net Income 41.3m |
| Net Debt (505.9m) to EBITDA (141.8m): 3.57 < 3 |
| Current Ratio: 3.15 > 1.5 & < 3 |
| Outstanding Shares: last quarter (27.8m) vs 12m ago -63.60% < -2% |
| Gross Margin: 90.90% > 18% (prev 0.92%; Δ 9.00k% > 0.5%) |
| Asset Turnover: 17.39% > 50% (prev 13.38%; Δ 4.01% > 0%) |
| Interest Coverage Ratio: 3.75 > 6 (EBITDA TTM 141.8m / Interest Expense TTM 34.3m) |
| A: 0.03 (Total Current Assets 59.3m - Total Current Liabilities 18.8m) / Total Assets 1.36b |
| B: 0.02 (Retained Earnings 28.6m / Total Assets 1.36b) |
| C: 0.11 (EBIT TTM 128.6m / Avg Total Assets 1.19b) |
| D: 0.05 (Book Value of Equity 28.6m / Total Liabilities 554.1m) |
| Altman-Z'' = 1.05 = BB |
| DSRI: 0.44 (Receivables 18.5m/27.2m, Revenue 206.1m/134.9m) |
| GMI: 1.01 (GM 90.90% / 91.67%) |
| AQI: 3.52 (AQ_t 0.16 / AQ_t-1 0.05) |
| SGI: 1.53 (Revenue 206.1m / 134.9m) |
| TATA: -0.08 (NI 41.3m - CFO 151.5m) / TA 1.36b) |
| Beneish M = -1.68 (Cap -4..+1) = CCC |
As of May 29, 2026, the stock is trading at USD 75.24 with a total of 444,087 shares traded.
Over the past week, the price has changed by -0.74%,
over one month by +10.76%,
over three months by +1.16% and
over the past year by -0.53%.
LandBridge has received a consensus analysts rating of 3.88. Therefore, it is recommended to buy LB.
- StrongBuy: 2
- Buy: 3
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 80.7 | 7.3% |
P/E Trailing = 81.0619
P/E Forward = 21.5983
P/S = 29.3764
P/B = 6.3542
Revenue TTM = 206.1m USD
EBIT TTM = 128.6m USD
EBITDA TTM = 141.8m USD
Long Term Debt = 535.1m USD (from longTermDebt, last quarter)
Short Term Debt = 433k USD (from shortTermDebt, last quarter)
Debt = 535.5m USD (corrected: LT Debt 535.1m + ST Debt 433k)
Net Debt = 505.9m USD (calculated: Debt 535.5m - CCE 29.7m)
Enterprise Value = 6.56b USD (6.06b + Debt 535.5m - CCE 29.7m)
Interest Coverage Ratio = 3.75 (Ebit TTM 128.6m / Interest Expense TTM 34.3m)
EV/FCF = 40.03x (Enterprise Value 6.56b / FCF TTM 163.9m)
FCF Yield = 2.50% (FCF TTM 163.9m / Enterprise Value 6.56b)
FCF Margin = 79.51% (FCF TTM 163.9m / Revenue TTM 206.1m)
Net Margin = 20.04% (Net Income TTM 41.3m / Revenue TTM 206.1m)
Gross Margin = 90.90% ((Revenue TTM 206.1m - Cost of Revenue TTM 18.8m) / Revenue TTM)
Gross Margin QoQ = 88.06% (prev 90.22%)
Tobins Q-Ratio = 4.82 (Enterprise Value 6.56b / Total Assets 1.36b)
Interest Expense / Debt = 6.40% (Interest Expense 34.3m / Debt 535.5m)
Taxrate = 9.10% (1.79m / 19.7m)
NOPAT = 116.9m (EBIT 128.6m * (1 - 9.10%))
Current Ratio = 3.15 (Total Current Assets 59.3m / Total Current Liabilities 18.8m)
Debt / Equity = 1.55 (Debt 535.5m / totalStockholderEquity, last quarter 344.5m)
Debt / EBITDA = 3.57 (Net Debt 505.9m / EBITDA 141.8m)
Debt / FCF = 3.09 (Net Debt 505.9m / FCF TTM 163.9m)
Total Stockholder Equity = 322.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.49% (Net Income 41.3m / Total Assets 1.36b)
RoE = 12.79% (Net Income TTM 41.3m / Total Stockholder Equity 322.9m)
RoCE = 14.98% (EBIT 128.6m / Capital Employed (Equity 322.9m + L.T.Debt 535.1m))
RoIC = 8.89% (NOPAT 116.9m / Invested Capital 1.31b)
WACC = 9.49% (E(6.06b)/V(6.59b) * Re(9.81%) + D(535.5m)/V(6.59b) * Rd(6.40%) * (1-Tc(0.09)))
Discount Rate = 9.81% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 47.74 | Cagr: 33.63%
[DCF] Terminal Value 74.38% ; FCFF base≈124.5m ; Y1≈142.7m ; Y5≈210.0m
[DCF] Fair Price = 76.42 (EV 2.63b - Net Debt 505.9m = Equity 2.13b / Shares 27.8m; r=9.49% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.06 | # QB: 0
Revenue Correlation: 99.46 | Revenue CAGR: 65.30% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.37 | Chg30d=+12.12% | Revisions=+20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.41 | Chg30d=+17.14% | Revisions=+20% | Analysts=1
EPS current Year (2026-12-31): EPS=1.48 | Chg30d=+8.03% | Revisions=+20% | GrowthEPS=+57.5% | GrowthRev=+23.4%
EPS next Year (2027-12-31): EPS=2.15 | Chg30d=+19.44% | Revisions=+20% | GrowthEPS=+45.3% | GrowthRev=+24.4%