LandBridge
Manages Delaware Basin land and resources for energy and industrial development.
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Profile
Owns and manages Delaware Basin land and resources, monetizing activity tied to energy, infrastructure, and industrial development. Its strategy centers on active land management rather than direct upstream production.
Owns and manages land and resources in the Delaware Basin, monetizing commercial activity tied to energy production, water infrastructure, power, digital infrastructure, and industrial development. Its largely contiguous acreage spans Texas and New Mexico and is concentrated in the US.
Active land management links a broad surface position to infrastructure and development opportunities rather than direct upstream production. The platform was assembled through acquisitions and is structured as a holding company with an interest in OpCo as its principal asset.
Five Point is the financial sponsor, while affiliated WaterBridge shares management and provides water-infrastructure context. Commercial development on or near the acreage and the WaterBridge relationship shape the business.
Company facts
Key statistics
Year to date +79.5% · Average volume (30d) 325.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 21, 2026 | Piper Sandler | Reiterate | Neutral | $66 | $80 |
| May 28, 2026 | Goldman Sachs | Target | $35 | $84 | |
| May 8, 2026 | Piper Sandler | Reiterate | Neutral | $65 | $66 |
| Nov 26, 2025 | Wells Fargo | Reiterate | Overweight | $82 | $90 |
| Nov 24, 2025 | Piper Sandler | Target | $55 | $65 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.53 | $0.40 | −24.0% | $60.0M | $66.8M | +11.3% | +6.31% |
| May 6, 2026Q1 FY26 | $0.70 | $0.23 | −67.1% | $58.7M | $51.0M | −13.1% | −3.08% |
| Feb 25, 2026Q4 FY25 | $0.62 | $0.24 | −61.3% | $51.9M | $56.8M | +9.4% | +13.70% |
| Nov 12, 2025Q3 FY25 | $0.48 | $0.26 | −45.7% | $50.2M | $50.8M | +1.2% | −10.31% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $44.0M | $47.5M | $50.8M | $56.8M | $51.0M | $66.8M | |
| Gross profit | $40.9M | $43.4M | $47.8M | $51.2M | $44.9M | $64.4M | |
| Operating income | $25.0M | $28.5M | $30.9M | $40.0M | $29.2M | $44.2M | |
| Net income | $6.5M | $7.3M | $8.1M | $8.1M | $17.9M | $12.3M | |
| Diluted EPS | $0.20 | $0.24 | $0.26 | $0.91 | $0.64 | $0.40 | |
| Gross margin | 93.0% | 91.4% | 94.1% | 90.2% | 88.1% | 96.3% | |
| Operating margin | 57.0% | 60.0% | 60.8% | 70.4% | 57.2% | 66.1% |
Fiscal years (4-quarter sums)FY23 $92.9M · FY24 $110.0M · FY25 $199.1M
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $39.8M · Total debt $535.7M · Total assets $1.38B · Shareholders' equity $355.5M
Dividends
Last raised to $0.12 from $0.10 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 27, 2026 | Aug 27 | Sep 10 | $0.12 | |
| Jun 4, 2026 | Jun 4 | Jun 18 | $0.12 | |
| Mar 5, 2026 | Mar 5 | Mar 19 | $0.12 | raised from $0.10 |
| Dec 4, 2025 | Dec 4 | Dec 18 | $0.10 | |
| Sep 4, 2025 | Sep 4 | Sep 18 | $0.10 | |
| Jun 5, 2025 | Jun 5 | Jun 19 | $0.10 | |
| Mar 6, 2025 | Mar 6 | Mar 20 | $0.10 | |
| Dec 5, 2024 | Dec 5 | Dec 19 | $0.10 |
Ownership
Shares outstanding 77.02M · Float 75.87M · 98.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| LandBridge Holdings LLC | 47.17M | 61.40% | 13D | Aug 11, 2026 |
| First Manhattan Co. LLC. | 7.06M | 9.16% | 13F | May 15, 2026 |
| Horizon Kinetics Asset Management LLC | 5.66M | 7.35% | 13F | May 15, 2026 |
| Morgan Stanley | 1.48M | 1.92% | 13F | May 15, 2026 |
| FMR LLC | 1.33M | 1.73% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | LandBridge Holdings LLC | director, 10 percent owner: | −1,250,000 | $75.05 |
| Aug 7, 2026 | David N. Capobianco | director, 10 percent owner: | −1,250,000 | $75.05 |
| Mar 6, 2026 | Charles L. Watson | director | −13,000 | $75.00 |
| Mar 4, 2026 | Charles L. Watson | director | −9,670 | $75.19 |
| Mar 2, 2026 | Charles L. Watson | director | −30,680 | $74.07 |
Peers
- Texas Pacific Land
Permian land, water and surface-rights overlap
- Viper Energy
Permian mineral and royalty-interest acquirer
- Kimbell Royalty Partners
Diversified mineral-and-royalty owner with Permian exposure
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| LandBridge | $86.94 | −0.03% | $6.70B | 39.3 | 39.7 | 29.7 | +40.5% |
| Texas Pacific Land | $363.30 | −0.29% | $25.13B | 46.5 | 39.3 | 28.0 | +31.2% |
| Viper Energy | $44.18 | 0.00% | $15.91B | 339.8 | 18.6 | 8.1 | +135.9% |
| Kimbell Royalty Partners | $15.46 | +3.85% | $1.47B | 22.8 | 14.7 | 4.0 | +30.0% |
| Median | 46.5 | 18.6 | 8.1 | +31.2% |