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Owns and manages surface land and water rights in the Permian Basin, leasing them to oil/gas operators for drilling, water management and infrastructure.
Owns and manages surface land and water rights in the Permian Basin, leasing them to oil/gas operators for drilling, water management and infrastructure.
Is paid for use of land it owns: fees when operators build roads, pipelines and wells, plus royalties on produced water, the salty water that comes up with oil, and on materials such as sand. It drills nothing itself, so earnings follow other companies' activity. It listed in 2024.
Moat: narrow (scale, installed base, regulatory licence). Owns a large, contiguous, well-located Permian Basin land position that is difficult to replicate.
Headquarters: Houston, Texas, USA · Founded: 2021
Size LandBridge Company LLC (LB) is a United States Real Estate company (Miscellaneous Commercial Services) with a market value of $5.02B, the 1185th largest of 3,117 United States companies the cockpit tracks. Shares closed at $65.10 on 6 Nov 2026.
Performance Over six months the shares gained 0.2%, against +2.4% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 44.1% over the last twelve months (peer median +8.1%); the operating margin is 63.9% (peer median 23.2%).
Valuation It trades at 29.7× forward earnings against a peer median of 29.4× (8th most expensive of 18).
Short interest Short interest is 13.1% of the free float (15 Oct 2026).
Next results Next results expected around 10 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $225M | $199M | $110M | $72.9M | $51.8M |
| Revenue growth | — | +81% | +51% | +41% | — |
| Gross profit | $203M | $181M | $95.8M | $57.9M | $38.6M |
| EBITDA | $159M | $136M | -$7.63M | $78.8M | $3.49M |
| Net income | $36.4M | $29.4M | $5.11M | $63.2M | -$6.36M |
| Free cash flow | -$72.4M | -$107M | -$657M | $50.3M | $17.2M |
| Capital expenditure | $227M | $233M | $724M | $2.78M | $3.29M |
| Total debt | $536M | $560M | $381M | $132M | $61.0M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| LandBridge Company LLC LB | $5.02B | 0% | +44% | 64% | 29.7× | n/a |
| Texas Pacific Land TPL | $18.8B | -31% | +21% | 75% | 26.7× | 9.4% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.6% | +8.9% | lowest of 21 |
| 6-month return | +0.2% | +2.4% | 8th lowest of 21 |
| Distance from 52-week high | -29.0% | -13.0% | 2nd lowest of 21 |
| Revenue growth (TTM) | +44.1% | +8.1% | 2nd highest of 21 |
| Operating margin | 63.9% | 23.2% | 3rd highest of 21 |
| Forward P/E | 29.7× | 29.4× | 8th most expensive of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| LandBridge Company LLC LB | United States | $5.02B | 0% | +44% | 64% | 29.7× | n/a | n/a |
| Kite Realty Group Trust KRG | United States | $5.04B | -4% | -7% | 23% | 68.2× | n/a | n/a |
| Rithm Capital RITM | United States | $5.15B | -6% | +19% | 48% | 4.1× | n/a | n/a |
| Cousins Properties CUZ | United States | $4.87B | +11% | +8% | 24% | 65.6× | n/a | n/a |
| OUTFRONT Media OUT | United States | $5.42B | -9% | +8% | 20% | 22.2× | n/a | n/a |
| Howard Hughes HHH | United States | $4.64B | +18% | +32% | 15% | 29.6× | n/a | n/a |
| Sabra Health Care REIT SBRA | United States | $5.51B | +1% | +21% | 18% | 29.4× | n/a | n/a |
| Americold Realty Trust COLD | United States | $4.57B | +8% | 0% | 6% | n/a | n/a | n/a |
| EPR Properties EPR | United States | $4.56B | +2% | +7% | 38% | 19.8× | n/a | n/a |
| Starwood Property Trust STWD | United States | $4.46B | -32% | +11% | 73% | 7.7× | n/a | n/a |
| Apple Hospitality REIT APLE | United States | $4.46B | +34% | +1% | 18% | 25.1× | n/a | n/a |
| Tanger SKT | United States | $4.45B | +6% | +11% | 30% | 34.0× | n/a | n/a |
| Phillips Edison & PECO | United States | $5.72B | +2% | +7% | 29% | 49.4× | n/a | n/a |
| Meritage Homes MTH | United States | $4.38B | +4% | -15% | 7% | 16.2× | n/a | n/a |
| Kilroy Realty KRC | United States | $4.21B | +3% | -4% | 23% | 96.4× | n/a | n/a |
| Essential Properties Realty Trust EPRT | United States | $6.21B | -11% | +21% | 64% | 21.6× | n/a | n/a |
| Millrose Properties MRP | United States | $4.00B | -4% | +93% | 85% | 7.9× | n/a | n/a |
| St. Joe JOE | United States | $3.96B | +6% | +11% | 32% | n/a | n/a | n/a |
| Rayonier RYN | United States | $6.45B | +6% | -13% | 15% | 36.0× | n/a | n/a |
| SL Green Realty SLG | United States | $3.88B | +11% | +9% | 12% | n/a | n/a | n/a |
| Healthcare Realty Trust HR | United States | $6.50B | -5% | -6% | 12% | 421.5× | n/a | n/a |