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LandBridge Company LLC Class A (LB)
NYSE:LB
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LandBridge Company LLC Class A
(NYSE:LB)
60Neutral
Positive Factors
Financial Performance
Adjusted EBITDA of $31.7MM beat the estimate of $30.8MM.
Growth Potential
Recent acquisitions bolstered footprint to 276,000 acres, up from 220,000 in mid-2024, indicating strong growth potential.
Revenue
Revenue of $36.5MM exceeded the forecast of $34.6MM.
Negative Factors
Acquisition Costs
The company recently closed the $245m purchase of 46k acres in Reeves Co, TX, with $25m of committed annual revenue, which may impact short-term financials.
Net Income
Adjusted net income of $19.3MM missed the estimate of $21.2MM.
LandBridge Company LLC Class A (LB) vs. S&P 500 (SPY)
Market Cap
$4.56B
Dividend Yield0.34%
Average Volume (3M)684.14K
Price to Earnings (P/E)207.8
Beta (1Y)2.52
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees4
SectorServices
Sector StrengthN/A
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)-2.62
Shares Outstanding23,255,419
10 Day Avg. Volume844,510
30 Day Avg. Volume684,140
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)128.71
Price to Cash Flow (P/CF)197.70
P/FCF Ratio103.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$79.25Price Target Upside32.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
LandBridge Company LLC Class A Business Overview & Revenue Model
Company DescriptionLandBridge Company LLC Class A (LB) is a logistics and transportation firm specializing in land freight solutions. The company operates within the logistics sector and offers a range of services including trucking, warehousing, and supply chain management. With a focus on efficiency and reliability, LandBridge aims to connect businesses with their customers through seamless land transportation services.
How the Company Makes MoneyLandBridge Company LLC Class A generates revenue through various logistics and transportation services. The primary revenue streams include fees from trucking services, which involve transporting goods across different regions. Additionally, the company earns income from warehousing services, where they provide storage solutions for clients' goods. Supply chain management services also contribute to their revenue by offering end-to-end logistics solutions that optimize the movement of goods. Strategic partnerships with key players in the transportation and logistics industry enhance their service offerings and expand their customer base, further driving earnings.
LandBridge Company LLC Class A Financial Statement Overview
Summary
LandBridge Company LLC has demonstrated significant revenue growth but struggles with declining profitability and negative net income. The balance sheet reflects a strong equity position with reduced leverage, although the return on equity has suffered. Cash flow metrics are resilient with strong operating and free cash flow, suggesting effective cash management despite profitability issues.Income Statement
The company shows a volatile performance with a significant revenue growth rate of 50.91% from 2023 to 2024. However, this is overshadowed by a negative net profit margin of -37.73% in 2024, a decline from 15.58% in 2023, indicating challenges in maintaining profitability. The EBIT margin also turned negative at -15.03% in 2024, reflecting operational inefficiencies.45
Neutral
Balance Sheet
LandBridge Company LLC maintains a solid equity base with an equity ratio of 43.45% in 2024, reflecting a stable capital structure. The debt-to-equity ratio significantly decreased to 0.001 in 2024, indicating reduced leverage risk. However, the return on equity plunged to -9.51% in 2024 from 7.53% in 2023, highlighting issues with generating returns on shareholder investments.60
Neutral
Cash Flow
The cash flow statement shows strength with a strong free cash flow growth rate of 32.58% from 2023 to 2024, and robust operating cash flow to net income ratio of 1.63 in 2024. This suggests efficient cash management despite net income losses. The free cash flow to net income ratio improved significantly, indicating a strong cash flow position relative to net earnings.75
Positive
| Breakdown | ||
| Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|
| Income Statement | Total Revenue | |
| 109.95M | 72.86M | 51.78M | Gross Profit |
| 98.97M | 57.92M | 38.57M | EBIT |
| -16.51M | 70.01M | -3.23M | EBITDA |
| -7.47M | 79.32M | 3.63M | Net Income Common Stockholders |
| 5.11M | 11.35M | -6.36M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |
| 37.03M | 37.82M | 25.35M | Total Assets |
| 1.00B | 288.95M | 276.02M | Total Debt |
| 381.24M | 131.78M | 61.01M | Net Debt |
| 344.21M | 93.96M | 35.66M | Total Liabilities |
| 395.41M | 138.20M | 66.06M | Stockholders Equity |
| -306.81M | 150.75M | 209.96M |
| Cash Flow | Free Cash Flow | |
| 66.65M | 50.26M | 17.21M | Operating Cash Flow |
| 67.64M | 53.04M | 20.50M | Investing Cash Flow |
| -724.35M | -2.77M | -696.00K | Financing Cash Flow |
| 655.92M | -37.80M | -7.71M |
LandBridge Company LLC Class A Risk Analysis
LandBridge Company LLC Class A disclosed 60 risk factors in its most recent earnings report. LandBridge Company LLC Class A reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
LandBridge Company LLC Class A Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $3.82B | 20.78 | 15.49% | 3.19% | 16.89% | 55.94% | |
78 Outperform | $4.56B | 7.46 | 10.12% | 2.51% | 3.42% | -35.98% | |
75 Outperform | $4.65B | 14.72 | 18.18% | 1.56% | -3.31% | 4.82% | |
72 Outperform | $2.90B | 5.89 | 45.81% | 1.88% | 7.36% | 19.68% | |
72 Outperform | $3.00B | 13.54 | 19.15% | 1.36% | 3.00% | 6.72% | |
60 Neutral | $4.56B | 207.80 | 7.53% | 0.34% | ― | ― | |
49 Neutral | $1.51B | 23.30 | 6.95% | 0.32% | 1.34% | -8297.75% |
* Services Sector Average
Performance Comparison
LB
LandBridge Company LLC Class A
59.64
36.75
160.55%
AROC
Archrock
21.79
1.57
7.76%
NOV
NOV
11.97
-8.02
-40.12%
WFRD
Weatherford International
39.79
-82.39
-67.43%
WHD
Cactus
37.57
-13.37
-26.25%
CHX
ChampionX
24.35
-13.65
-35.92%
LandBridge Company LLC Class A Earnings Call Summary
Earnings Call Date: Mar 5, 2025 | % Change Since: -8.81% | Next Earnings Date: Aug 6, 2025
Earnings Call Sentiment Positive
LandBridge reported strong revenue and EBITDA growth, significant land acquisitions, and new commercial agreements, particularly in renewable energy and data centers. However, there were challenges such as a decline in resource sales and increased debt levels. Overall, the positive aspects of the company's strategic growth and financial performance outweigh the lowlights.Highlights
Strong Revenue and EBITDA Growth
In Q4 2024, revenue grew 109% year-over-year to $36.5 million, and adjusted EBITDA grew 108% with an 87% margin. For the full year, revenue increased by 51% and adjusted EBITDA by 55% with an 88% margin.
Significant Land Acquisition
LandBridge expanded its land holdings from 72,000 to 273,000 surface acres, acquiring 53,000 acres in Q4 2024, including the strategic Wolf Bone Ranch acquisition.
New Commercial Agreements
Executed agreements with Western Midstream Partners LP and DESRI for development projects, including a solar energy project covering 6,700 acres.
Data Center Development
Signed the first data center lease development agreement and received an $8 million nonrefundable deposit in December 2024.
Strong Free Cash Flow
Generated $26.7 million of free cash flow in Q4 with a 73% margin, and $66.7 million for the full year.
Lowlights
Decline in Resource Sales and Royalties
Resource sales and royalties declined 28% sequentially in Q4, driven by a decrease in brackish water sales and royalty volumes.
Increased Debt
Debt increased to $385 million, up from $281.3 million in Q3 2024, partly due to recent acquisitions.
Company Guidance
In their fourth quarter 2024 call, LandBridge reported impressive financial growth, with revenues increasing by 109% year-over-year to $36.5 million and adjusted EBITDA rising by 108% year-over-year, culminating in an 87% adjusted EBITDA margin. For the full fiscal year, revenues grew by 51% year-over-year to $110 million, and adjusted EBITDA rose by 55% year-over-year, achieving an 88% adjusted EBITDA margin. The company expanded its land holdings significantly, acquiring approximately 273,000 surface acres by the end of 2024, including strategic acquisitions like the 46,000-acre Wolf Bone Ranch. LandBridge secured a minimum annual revenue commitment of $25 million from VTX for the next five years and executed significant agreements with Western Midstream Partners and DESRI for water handling and solar energy projects, respectively. The company also received an $8 million nonrefundable deposit for a data center development agreement. Looking ahead to 2025, LandBridge reaffirmed its guidance, expecting adjusted EBITDA between $170 million and $190 million, driven by recent acquisitions and growth in surface use royalties.LandBridge Company LLC Class A Corporate Events
Business Operations and StrategyFinancial Disclosures
LandBridge Company LLC Reports Strong Q4 2024 Growth
Positive
Mar 5, 2025
LandBridge Company LLC reported significant financial growth for the fourth quarter and fiscal year 2024, with a 109% year-over-year increase in Q4 revenues and a 51% rise for the fiscal year. The company expanded its land holdings and executed strategic agreements, enhancing its market position and financial performance. Notable achievements include a substantial increase in adjusted EBITDA and free cash flow margins, as well as strategic acquisitions and partnerships in renewable energy and water management. These developments underscore LandBridge’s robust operational momentum and its strategic focus on sustainable value creation for shareholders.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.