LB financial statements
The full income statement, balance sheet, and cash-flow statement for LandBridge Company LLC (LB), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| Revenue | 199M+81.1% | 110M+50.9% | 72.9M | |
| Amortization of intangibles | 5.40M+107.7% | 2.60M+18.2% | 2.20M | |
| Provision for credit losses | — | 5.00K+171.4% | -7.00K | |
| Operating income | 119M+817.7% | -16.5M-123.6% | 70.0M | |
| Net interest income | -32.7M-40.2% | -23.3M-232.6% | -7.02M | |
| Other non-operating income | -4.33M-1896.3% | 241K-56.1% | 549K | |
| Pre-tax income | 81.5M+305.7% | -39.6M-162.3% | 63.5M | |
| Income tax | 9.07M+383.5% | 1.88M+406.8% | 370K | |
| 30.1M+489.6% | 5.11M-91.9% | 63.2M | ||
| Net income to non-controlling interest | 42.3M+14577.4% | 288K | — | |
| Net income to common | 29.4M | — | — | |
| $0.94+1242.9% | $0.07 | — | ||
| EPS (basic) | $1.18+321.4% | $0.28 | — | |
| Weighted-avg shares (basic) | 24.8M+39.4% | 17.8M | — | |
| Weighted-avg shares (diluted) | 76.5M+4.3% | 73.4M | — | |
| Dividends per share | $0.83-89.1% | $7.66 | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| 59.8M+12.2% | 53.3M+2.0% | 52.3M | ||
| Cash & equivalents | 30.7M-17.0% | 37.0M-2.1% | 37.8M | |
| Prepaid expenses | 4.77M+192.8% | 1.63M+57.3% | 1.03M | |
| 1.37B+32.3% | 1.03B+257.3% | 289M | ||
| Property, plant & equipment | 1.08B+20.1% | 903M+344.7% | 203M | |
| Intangible assets | 137M+202.6% | 45.3M+58.0% | 28.6M | |
| Deferred tax assets | 81.0M+175.3% | 29.4M | — | |
| Other non-current assets | 3.86M+121.5% | 1.74M-65.3% | 5.01M | |
| Total non-current assets | 1.31B+33.4% | 979M+313.7% | 237M | |
| 12.3M-14.7% | 14.4M-46.8% | 27.1M | ||
| Accrued liabilities | 7.78M+8.3% | 7.18M+45.3% | 4.95M | |
| Deferred revenue | 1.26M+3.4% | 1.22M+339.2% | 278K | |
| Short-term & current debt | 692K+63.2% | 424K-97.9% | 20.3M | |
| Other current liabilities | 7.00K-99.7% | 2.12M+323.8% | 500K | |
| 572M+44.7% | 395M+186.1% | 138M | ||
| Long-term debt | 560M+46.9% | 381M+251.5% | 108M | |
| Other non-current liabilities | 192K+4.9% | 183K-93.4% | 2.76M | |
| Total non-current liabilities | 560M+46.9% | 381M+242.9% | 111M | |
| 340M+60.7% | 212M+40.5% | 151M | ||
| Retained earnings | 23.2M+593.7% | 3.35M | — | |
| Non-controlling interest | 454M+6.7% | 425M | — | |
| Total equity incl. non-controlling | 794M+24.6% | 637M+322.6% | 151M | |
| Total liabilities & equity | 1.37B+32.3% | 1.03B+257.3% | 289M | |
| Common shares issued | — | 23.3M | — | |
| Common shares outstanding | — | 23.3M | — | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| 126M+86.7% | 67.6M+27.5% | 53.0M | ||
| Depreciation & amortization | 11.5M+29.2% | 8.88M+1.3% | 8.76M | |
| Intangible amortization | 5.40M+107.7% | 2.60M+18.2% | 2.20M | |
| Share-based compensation | 45.3M-52.5% | 95.3M+653.3% | -17.2M | |
| Deferred income taxes | 4.08M+1093.7% | -411K | 0.00 | |
| Change in receivables | 6.83M+423.4% | -2.11M-243.4% | 1.47M | |
| -233M+67.8% | -724M-26031.0% | -2.77M | ||
| Capital expenditure | 4.24M+330.1% | 985K-64.6% | 2.78M | |
| Free cash flow | 122M+83.1% | 66.7M+32.6% | 50.3M | |
| Acquisitions | 229M-68.3% | 723M | 0.00 | |
| 101M-84.7% | 656M+1835.3% | -37.8M | ||
| Long-term debt issued | 784M+87.7% | 418M+178.3% | 150M | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00-100.0% | 278M | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 63.7M-64.3% | 178M+69.5% | 105M | |
| Other financing activities | — | -462K-14.4% | -404K | |
| Net change in cash | -6.29M-695.3% | -791K-106.3% | 12.5M | |
| Interest paid | 27.0M+37.0% | 19.7M+232.7% | 5.91M | |
| Income taxes paid | 8.73M+2167.5% | 385K+80.8% | 213K | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| Market cap | 3.76B+150.4% | 1.50B | — | |
| P/E | 124.9×-57.5% | 294.0× | — | |
| P/S | 18.9×+38.3% | 13.7× | — | |
| P/B | 11.1×+55.8% | 7.1× | — | |
| P/FCF | 30.8×+36.8% | 22.5× | — | |
| Earnings yield | 0.80%+135.4% | 0.34% | — | |
| FCF yield | 3.2%-26.9% | 4.4% | — | |
| Dividend yield | 1.7%-85.7% | 11.9% | — | |
| Source filing | 10-K | 10-K | 10-K |
About this data
Source: LB’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all LB filings on SEC EDGAR → Not investment advice.