Landbridge Company LLC (LB) financial statements: income statement, balance sheet and cash flow
Landbridge Company LLC's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Landbridge Company LLC reported revenue of $199.1M (+81.1% year on year) and net income of $72.4M (+274.5% year on year).
Income statement
Landbridge Company LLC income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Total revenues
$199.1M
$110.0M
Resource sales-related expense
$2.0M
$2.1M
Other operating and maintenance expense
$4.5M
$3.2M
General and administrative expense (income)
$62.4M
$112.3M
Depreciation, depletion and amortization
$11.5M
—
Other operating expense, net
$131.0K
—
Operating income (loss)
$118.5M
($16.5M)
Interest expense, net
$32.7M
$23.3M
Other loss (income)
$4.3M
($241.0K)
Income (loss) from operations before taxes
$81.5M
($39.6M)
Income tax expense
$9.1M
$1.9M
Net income (loss)
$72.4M
($41.5M)
Net income attributable to noncontrolling interest
$42.3M
$288.0K
Net income attributable to LandBridge Company LLC
$30.1M
$5.1M
Basic
$1.18
$0.28
Diluted
$0.94
$0.07
Basic
24.8M
17.8M
Diluted
76.5M
73.4M
Landbridge Company LLC income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenues
$66.8M
$51.0M
$50.8M
$47.5M
Resource sales-related expense
$1.1M
$397.0K
$438.0K
$489.0K
Other operating and maintenance expense
$1.3M
$1.3M
$1.2M
$1.1M
General and administrative expense
$15.9M
$15.7M
$15.9M
$14.8M
Depreciation, depletion and amortization
$4.4M
$4.4M
—
—
Other operating (income) expense, net
($53.0K)
$10.0K
($100.0K)
$132.0K
Operating income
$44.2M
$29.2M
$30.9M
$28.5M
Interest expense, net
$9.2M
$9.5M
$7.9M
$7.9M
Other expense, net
$17.0K
$10.0K
$0
$0
Income before income taxes
$35.0M
$19.7M
$23.0M
$20.6M
Income tax expense
$3.9M
$1.8M
$2.7M
$2.1M
Net income
$31.0M
$17.9M
$20.3M
$18.5M
Less: Net income attributable to noncontrolling interest
$18.8M
$9.2M
$12.2M
$11.0M
Net income attributable to LandBridge Company, LLC
$12.3M
$8.7M
$8.1M
$7.5M
Basic
$0.43
$0.31
$0.31
$0.30
Diluted
$0.40
$0.23
$0.26
$0.24
Basic
28.0M
27.8M
25.3M
24.1M
Diluted
77.0M
77.1M
76.5M
76.4M
Balance sheet
Landbridge Company LLC balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Cash and cash equivalents
$30.7M
$37.0M
Accounts receivable, net
$24.3M
$14.7M
Prepaid expenses and other current assets
$4.8M
$1.6M
Total current assets
$59.8M
$53.3M
Property, plant and equipment, net
$1.1B
$902.7M
Intangible assets, net
$137.0M
$45.3M
Deferred tax assets
$81.0M
$411.0K
Other assets
$3.9M
$1.7M
Total non-current assets
$1.3B
$950.2M
Total assets
$1.4B
$1.0B
Accounts payable
$1.3M
$1.2M
Taxes payable
$1.2M
$2.3M
Accrued liabilities
$7.8M
$7.2M
Current portion of long-term debt
$692.0K
$424.0K
Deferred revenue
$1.3M
$1.2M
Other current liabilities
$7.0K
$2.1M
Total current liabilities
$12.3M
$14.4M
Long-term debt, net of debt issuance costs
$559.6M
$380.8M
Other long-term liabilities
$192.0K
$183.0K
Total non-current liabilities
$559.8M
$381.0M
Total liabilities
$572.1M
$395.4M
Common Stock Value
$317.1M
$432.7M
Retained earnings
$23.2M
$3.3M
Total shareholders' equity attributable to LandBridge Company LLC
$340.3M
$436.0M
Noncontrolling interest
$453.7M
$172.1M
Total shareholders' equity
$794.0M
$608.1M
Total liabilities and equity
$1.4B
$1.0B
Landbridge Company LLC balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$39.8M
$29.7M
$28.3M
$20.3M
Accounts receivable, net
$27.5M
$26.2M
$24.2M
$20.6M
Prepaid expenses and other current assets
$3.5M
$3.4M
$4.8M
$3.2M
Total current assets
$70.8M
$59.3M
$57.4M
$44.1M
Property, plant and equipment, net
$1.1B
$1.1B
$918.0M
$918.3M
Intangible assets, net
$131.4M
$134.2M
$41.8M
$43.0M
Deferred tax assets
$79.1M
$80.4M
$59.1M
$58.5M
Other assets
$3.2M
$3.8M
$1.6M
$2.4M
Total non-current assets
$1.3B
$1.3B
$1.0B
$1.0B
Total assets
$1.4B
$1.4B
$1.1B
$1.1B
Accounts payable
$1.8M
$1.3M
$1.5M
$1.3M
Taxes payable
$966.0K
$1.4M
$702.0K
$455.0K
Accrued liabilities
$5.9M
$14.2M
$7.3M
$6.3M
Current portion of long-term debt
$194.0K
$433.0K
$924.0K
$171.0K
Contract liabilities
$818.0K
$1.4M
$2.2M
$1.1M
Other current liabilities
$7.0K
$31.0K
$1.1M
$1.1M
Total current liabilities
$9.7M
$18.8M
$13.8M
$10.4M
Long-term debt, net of debt issuance costs
$535.5M
$535.1M
$366.1M
$370.9M
Other long-term liabilities
$195.0K
$194.0K
$192.0K
$182.0K
Total non-current liabilities
$535.7M
$535.3M
$366.3M
$371.1M
Total liabilities
$545.5M
$554.1M
$380.1M
$381.4M
Common Stock
$318.1M
$315.9M
$254.0M
$254.0M
Retained earnings
$37.5M
$28.6M
$18.0M
$12.4M
Total shareholders' equity attributable to LandBridge Company LLC
$355.5M
$344.5M
$272.0M
$266.4M
Noncontrolling interest
$476.3M
$463.6M
$425.8M
$418.5M
Total shareholders' equity
$831.8M
$808.1M
$697.8M
$685.0M
Total liabilities and equity
$1.4B
$1.4B
$1.1B
$1.1B
Cash flow statement
Landbridge Company LLC cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Net income (loss)
$72.4M
($41.5M)
Depreciation, depletion and amortization
$11.5M
—
Amortization of debt issuance costs
$2.2M
$1.7M
Share-based compensation
$45.3M
$95.3M
Loss on extinguishment of debt
$4.4M
—
Deferred income tax expense (benefit)
$4.1M
($411.0K)
Other
$16.0K
—
Accounts receivable
($6.8M)
$2.1M
Related party accounts receivable
($2.8M)
($1.1M)
Prepaid expenses and other assets
$1.3M
($328.0K)
Accounts payable
$16.0K
$272.0K
Related party accounts payable
$95.0K
$233.0K
Accrued liabilities and other liabilities
($1.6M)
($434.0K)
Taxes payable
($3.7M)
$1.9M
Net cash provided by operating activities
$126.3M
$67.6M
Acquisitions
($229.0M)
($723.4M)
Capital expenditures
($4.2M)
($985.0K)
Proceeds from disposal of assets
$210.0K
—
Net cash used in investing activities
($233.1M)
($724.4M)
Proceeds from debt
$783.5M
—
Repayments of debt
($599.2M)
—
Dividends, dividend equivalents, and distributions paid
($63.7M)
($178.2M)
Debt issuance costs
($13.3M)
($4.3M)
Taxes paid related to net share settlement of RSUs
($5.8M)
—
Offering costs
($1.1M)
($8.2M)
Proceeds from issuance of Class A shares - IPO, net of underwriting discounts and fees
0
—
Proceeds from issuance of Class A shares - December 2024 Private Placement, net of placement agent fees
0
339.3M
Purchase of OpCo Units from LandBridge Holdings, net of placement agent fees
$0
($145.4M)
Contributions from member
$0
$120.0M
Net cash provided by (used in) financing activities
$100.5M
$655.9M
Net (decrease) increase in cash and cash equivalents
($6.3M)
($791.0K)
Cash and cash equivalents - beginning of period
$37.0M
$37.8M
Cash and cash equivalents - end of period
$30.7M
$37.0M
Landbridge Company LLC cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$48.9M
$17.9M
$54.2M
$33.9M
Depreciation, depletion, amortization
$8.8M
$4.4M
$7.7M
$5.1M
Amortization of debt issuance costs
$1.1M
$548.0K
$1.6M
$1.1M
Share-based compensation
$22.5M
$11.3M
$33.6M
$22.4M
Deferred income tax expense
$1.6M
$316.0K
$2.3M
$991.0K
Other
($67.0K)
($45.0K)
$5.0K
$6.0K
Accounts receivable
$1.7M
$895.0K
($7.1M)
($5.3M)
Related party accounts receivable
($4.9M)
($2.8M)
($2.5M)
($591.0K)
Prepaid expenses and other assets
$997.0K
$758.0K
($3.9M)
($1.8M)
Accounts payable
$151.0K
($220.0K)
$65.0K
($42.0K)
Related party accounts payable
$280.0K
$191.0K
$216.0K
$96.0K
Taxes payable
$2.2M
$1.2M
$1.4M
($1.8M)
Accrued and other liabilities
($810.0K)
$6.7M
($565.0K)
($672.0K)
Net cash provided by operating activities
$82.5M
$41.1M
$88.2M
$53.2M
Acquisitions
($12.2M)
($2.0M)
($18.8M)
($18.8M)
Capital expenditures
($1.3M)
($180.0K)
($2.5M)
($1.3M)
Proceeds from disposal of assets
$55.0K
$27.0K
$210.0K
$125.0K
Net cash used in investing activities
($13.4M)
($2.1M)
($21.1M)
($19.9M)
Proceeds from debt
$0
$0
—
—
Repayments of debt
($25.5M)
($25.2M)
—
—
Dividends, dividend equivalents, and distributions paid
($33.3M)
($14.7M)
($52.8M)
($37.9M)
Debt issuance costs
($1.2M)
—
($55.0K)
($40.0K)
Offering costs
$0
$0
($1.1M)
($977.0K)
Other
($7.0K)
($66.0K)
($404.0K)
($296.0K)
Net cash used in financing activities
($60.0M)
($40.0M)
($75.8M)
($50.0M)
Net increase (decrease) in cash and cash equivalents