LandBridge Co LLC

Listed Company

LBCIK 0001995807NYSELarge AcceleratedOil Royalty TradersDelawareFY ends Dec 31

Period

FY 2025

Revenue

$199.09M

Net Income

$30.13M

Total Assets

$1.37B

Equity

$340.30M

Shares Out

23.26M

Op. Cash Flow

$126.27M

Business

LandBridge Co LLC is a holding company that acquires, manages and monetizes surface acreage and associated mineral interests to support energy and infrastructure development. It earns revenue by leasing land and granting surface use and produced water facilities rights, receiving surface use royalties, brackish water and sand sales and oil and gas royalties, and hosting third-party infrastructure and reclamation facilities. Its business is organized around three principal land positions—Stateline, Northern and Southern—and strategic relationships with WaterBridge, Desert Environmental and other partners. Operations focus on the Delaware Basin in Texas and New Mexico, serving large E&P, midstream and industrial customers through long‑term surface use agreements, easements and resource sales.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Total revenues	199	110	73
Resource sales-related expense	2	2	3
Other operating and maintenance expense	5	3	3
General and administrative expense (income)	62	112	−12
Depreciation, depletion and amortization	11	9	9
Other operating expense, net	131,000	—	—
Operating income (loss)	119	−17	70
Interest expense, net	33	23	7
Other loss (income)	4	−241,000	−549,000
Income (loss) from operations before taxes	81	−40	64
Income tax expense	9	2	370,000
Net income (loss)	72	−41	63
Net income attributable to noncontrolling interest	42	288,000	—
Net income attributable to LandBridge Company LLC	30	5	—
Basic (per share)	1.18	0.28	—
Diluted (per share)	0.94	0.07	—
Basic (shares)	25	18	—
Diluted (shares)	77	73	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Cash and cash equivalents	31	37	38
Prepaid expenses and other current assets	5	2	1
Total current assets	60	53	52
Property, plant and equipment, net	1,084	903	203
Intangible assets, net	137	45	29
Deferred tax assets	81	29	—
Other assets	4	2	5
Total non-current assets	1,306	979	237
Total assets	1,366	1,032	289
Taxes payable	1	2	385,000
Accrued liabilities	8	7	5
Current portion of long-term debt	692,000	424,000	20
Deferred revenue	1	1	278,000
Other current liabilities	7,000	2	500,000
Total current liabilities	12	14	27
Long-term debt, net of debt issuance costs	560	381	108
Other long-term liabilities	192,000	183,000	3
Total non-current liabilities	560	381	111
Total liabilities	572	395	138
Commitments and contingencies	—	—	—
Retained earnings	23	3	—
Total shareholders' equity attributable to LandBridge Company LLC	340	212	—
Noncontrolling interest	454	425	—
Total shareholders' equity	794	637	151
Total liabilities and equity	1,366	1,032	289

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Depreciation, depletion and amortization	11	9	9
Amortization of debt issuance costs	2	2	388,000
Share-based compensation	45	95	−17
Loss on extinguishment of debt	4	0	0
Deferred income tax expense (benefit)	4	−411,000	0
Other	16,000	5,000	−246,000
Accounts receivable	−7	2	−1
Related party accounts receivable	−3	−1	−613,000
Prepaid expenses and other assets	1	−328,000	43,000
Accounts payable	16,000	272,000	362,000
Related party accounts payable	95,000	233,000	−109,000
Accrued liabilities and other liabilities	−2	506,000	−186,000
Taxes payable	−4	2	173,000
Net cash provided by operating activities	126	68	53
Acquisitions	−229	−723	0
Capital expenditures	−4	−985,000	−3
Proceeds from disposal of assets	210,000	0	11,000
Net cash used in investing activities	−233	−724	−3
Proceeds from debt	784	418	150
Repayments of debt	−599	−163	−78
Dividends, dividend equivalents, and distributions paid	−64	−178	−105
Debt issuance costs	−13	−4	−3
Taxes paid related to net share settlement of RSUs	−6	0	0
Offering costs	−1	−8	−2
Proceeds from issuance of Class A shares - IPO, net of underwriting discounts and fees	0	278	0
Proceeds from issuance of Class A shares - December 2024 Private Placement, net of placement agent fees	0	339	0
Purchase of OpCo Units from LandBridge Holdings, net of placement agent fees	0	−145	0
Contributions from member	0	120	0
Net cash provided by (used in) financing activities	101	656	−38
Net (decrease) increase in cash and cash equivalents	−6	−791,000	12

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro