LandBridge Company LLC Class A (LB)
NYSE:LB
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LandBridge Company LLC Class A
(NYSE:LB)
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Rating:77Outperform
Price Target:
$86.00
▲(27.92% Upside)
Action:Reiterated
Date:05/11/26
The score is driven primarily by strong financial performance (profitability, cash generation, and improved leverage) and a positive earnings call with raised guidance and continued shareholder returns. Offsetting factors are weak near-term technical momentum and limited valuation support from the provided P/E and dividend yield.
Positive Factors
Cash Generation
Free cash flow materially exceeds net income and has grown sharply, indicating durable cash conversion. This supports debt reduction, dividends and buybacks and provides financial optionality for multi‑year investments or M&A, improving long‑term capital allocation flexibility.
Negative Factors
Historical earnings volatility
Prior periods show loss‑making results and a spike in profitability that may not repeat, raising uncertainty about sustainable margin normalization. If elevated margins revert, cash flow and returns could compress, challenging multi‑period planning and capital allocation assumptions.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Free cash flow materially exceeds net income and has grown sharply, indicating durable cash conversion. This supports debt reduction, dividends and buybacks and provides financial optionality for multi‑year investments or M&A, improving long‑term capital allocation flexibility.
Read all positive factors
LandBridge Company LLC Class A (LB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.84B
Dividend Yield0.76%
Average Volume (3M)334.09K
Price to Earnings (P/E)26.9
Beta (1Y)1.62
Revenue Growth52.83%
EPS GrowthN/A
CountryUS
Employees4
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)1.55
Shares Outstanding27,838,200
10 Day Avg. Volume389,389
30 Day Avg. Volume334,092
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)4.70
Price to Sales (P/S)8.03
P/FCF Ratio13.11
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue28.28
Enterprise Value/Gross Profit31.11
Enterprise Value/Ebitda41.10
Forecast
1Y Price Target
$79.50Price Target Upside18.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)2.13
Revenue Forecast (FY)$245.61M
LandBridge Company LLC Class A Business Overview & Revenue Model
Company Description
LandBridge Company LLC owns and manages land and resources to support and enhance oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico. The company holds a portfolio o...
How the Company Makes Money
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LandBridge Company LLC Class A Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call emphasized strong year-over-year growth, exceptional cash conversion, a raised full-year guidance range and validation of strategic initiatives (fee-based surface model, WaterBridge partnership, PowerBridge data center option). Notable near-term headwinds include expected quarter-to-quarter seasonality, an ~11% sequential revenue decline in Q1, some revenue concentration tied to upstream development (~20%) and net leverage slightly above the long-term target. On balance, management presented multiple durable, high-margin revenue drivers, significant pipeline visibility and continued capital allocation discipline, outweighing the expected seasonality and lumpiness risks.Positive Updates
Year-over-Year Revenue and Adjusted EBITDA Growth
Total revenue of $51.0M, up ~16% year-over-year; adjusted EBITDA of $44.9M, also up ~16% year-over-year, with an adjusted EBITDA margin of 88% (consistent with prior-year quarter).
Negative Updates
Sequential Revenue and EBITDA Decline
Revenue declined ~11% sequentially (Q1 $51.0M vs Q4 $56.8M); adjusted EBITDA declined broadly in line with revenue. Management attributed this to Q4 strength and seasonally slower Q1 commercial activity.
Read all updates
Q1-2026 Updates
Positive
Negative
Year-over-Year Revenue and Adjusted EBITDA Growth
Total revenue of $51.0M, up ~16% year-over-year; adjusted EBITDA of $44.9M, also up ~16% year-over-year, with an adjusted EBITDA margin of 88% (consistent with prior-year quarter).
Read all positive updates
Company Guidance
LandBridge raised full‑year 2026 adjusted EBITDA guidance to $210–$230 million (up $5 million at both ends), driven by greater visibility in its commercial pipeline and a more supportive macro backdrop; Q1 results supporting the raise included revenue of $51.0 million (+16% YoY, -~11% sequential from $56.8M), adjusted EBITDA $44.9 million (+16% YoY) with an 88% adjusted EBITDA margin, net income up $17.9 million (+16% YoY) with a 35% net income margin, surface use royalties of $37 million (+41% YoY), cash flow from operations $41.1 million and free cash flow $40.9 million (+158% YoY) representing an 80% free cash flow margin ($0.80 of every revenue dollar); additional metrics noted: CapEx $0.2 million, net investing use $2.1 million, $25.2 million of debt repaid, total liquidity $259.7 million (cash $29.7M + ≈$230M revolver), total debt $545 million (from $570M), net leverage 2.7x (down from 2.8x), declared $0.12/share dividend, $50 million repurchase authorization, >320,000 surface acres (added ~50,000 in the past year), and a $2.6 million one‑year option payment from PowerBridge on 3,400 acres.LandBridge Company LLC Class A Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 206.15M | 199.09M | 109.95M | 72.86M | 51.78M |
| Gross Profit | 187.38M | 181.08M | 98.97M | 60.66M | 41.22M |
| EBITDA | 141.85M | 125.64M | -7.47M | 79.16M | 3.63M |
| Net Income | 41.31M | 30.13M | 5.11M | 63.17M | -6.36M |
Balance Sheet | |||||
| Total Assets | 1.36B | 1.37B | 1.00B | 288.95M | 276.02M |
| Cash, Cash Equivalents and Short-Term Investments | 29.68M | 30.74M | 37.03M | 37.82M | 25.35M |
| Total Debt | 433.00K | 692.00K | 381.24M | 128.68M | 61.01M |
| Total Liabilities | 554.12M | 572.07M | 395.41M | 138.20M | 66.06M |
| Stockholders Equity | 344.50M | 340.30M | 436.01M | 150.75M | 209.96M |
Cash Flow | |||||
| Free Cash Flow | 163.91M | 122.04M | 66.65M | 50.26M | 17.21M |
| Operating Cash Flow | 151.48M | 126.27M | 67.64M | 53.04M | 20.50M |
| Investing Cash Flow | -217.35M | -233.07M | -724.35M | -2.77M | -11.67M |
| Financing Cash Flow | 80.62M | 100.51M | 655.92M | -37.80M | 3.27M |
LandBridge Company LLC Class A Technical Analysis
Positive
67.23
Price Trends
69.38
Positive
64.60
Positive
60.42
Positive
Market Momentum
1.25
Negative
67.56
Neutral
89.11
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LB, the sentiment is Positive. The current price of 67.23 is below the 20-day moving average (MA) of 68.41, below the 50-day MA of 69.38, and above the 200-day MA of 60.42, indicating a bullish trend. The MACD of 1.25 indicates Negative momentum. The RSI at 67.56 is Neutral, neither overbought nor oversold. The STOCH value of 89.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LB.
LandBridge Company LLC Class A Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $5.84B | 26.89 | 13.51% | 0.76% | 52.83% | ― | |
75 Outperform | $4.98B | -16.82 | 6.16% | 1.16% | 4.50% | -62.41% | |
72 Outperform | $7.40B | 70.38 | 5.47% | 4.86% | 3.99% | 38.62% | |
70 Outperform | $8.01B | 15.74 | 28.39% | 1.25% | -8.81% | >-0.01% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | $7.59B | -103.42 | 36.16% | ― | -9.95% | 233.69% | |
59 Neutral | $7.59B | 84.88 | 1.45% | 3.24% | -1.33% | -84.10% |
* Energy Sector Average
LB
LandBridge Company LLC Class A
76.08
-1.48
-1.91%
NOV
NOV
20.86
9.15
78.11%
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21.17
51.73%
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101.48
65.42
181.42%
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120.37%
LandBridge Company LLC Class A Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
LandBridge Raises 2026 Outlook After Strong Q1 Results
Positive
May 6, 2026
LandBridge Company LLC reported first quarter 2026 results on May 6, 2026, with revenue of $51.0 million, net income of $17.9 million and Adjusted EBITDA of $44.9 million, each up 16% year over year, supported by strong margins and an 81% operatin...
Business Operations and StrategyRegulatory Filings and Compliance
LandBridge Releases 2026 Investor Day Presentation Online
Neutral
Mar 19, 2026
On March 19, 2026, LandBridge Company LLC posted a new investor presentation titled “LandBridge 2026 Investor Day” on its investor relations website, making updated company information available to the market. The company indicated tha...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresPrivate Placements and Financing
LandBridge Posts Strong Q4 Results, Boosts Capital Returns
Positive
Feb 25, 2026
LandBridge reported strong fourth-quarter and full-year 2025 results on February 25, 2026, with Q4 revenue rising 56% year over year to $56.8 million and full-year revenue up 81% to $199.1 million, underpinned by high margins and robust free cash ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.