LandBridge - Public Comps and Valuation Multiples

LandBridge Overview

About LandBridge

LandBridge Co LLC is engaged in managing land and resources to support and promote oil and natural gas development. It generates revenue streams from the use of its surface acreage, the sale of resources from land and oil and gas royalties.

Founded

2023

HQ

Employees

n/a

Website

landbridgeco.com

Sectors

Energy Exploration & Generation
Fossil Fuels

Financials

LTM Revenue $179M

LTM EBITDA $159M

EV

$1.7B

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LandBridge Financials

As of September 2025, LandBridge reported last 12-month revenue of $179M and EBITDA of $159M.

In the same period, LandBridge generated $177M in LTM gross profit and $72.6M in net income.

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LandBridge P&L

In the most recent fiscal year, LandBridge reported revenue of $110M and EBITDA of -$7.5M.

LandBridge expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$179M	XXX	$110M	XXX	XXX	XXX
Gross Profit	$177M	XXX	$99.0M	XXX	XXX	XXX
Gross Margin	99%	XXX	90%	XXX	XXX	XXX
EBITDA	$159M	XXX	-$7.5M	XXX	XXX	XXX
EBITDA Margin	89%	XXX	-7%	XXX	XXX	XXX
EBIT	$110M	XXX	-$16.5M	XXX	XXX	XXX
EBIT Margin	62%	XXX	-15%	XXX	XXX	XXX
Net Profit	$72.6M	XXX	$5.1M	XXX	XXX	XXX
Net Margin	41%	XXX	5%	XXX	XXX	XXX
Net Debt	XXX	XXX	$344M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for LandBridge including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $179M. EBITDA for the last twelve months was $159M. In the most recent fiscal year, LandBridge achieved $110M in revenue and -$7.5M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$179M	Analyst estimates available to subscribers	$110M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$177M	Analyst estimates available to subscribers	$99.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	98.8% gross margin	Analyst estimates available to subscribers	90.0% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$159M	Analyst estimates available to subscribers	-$7.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	89.2% EBITDA margin	Analyst estimates available to subscribers	-6.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$110M	Analyst estimates available to subscribers	-$16.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	61.6% EBIT margin	Analyst estimates available to subscribers	-15.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$72.6M	Analyst estimates available to subscribers	$5.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	40.6% net profit margin	Analyst estimates available to subscribers	4.6% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$344M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for LandBridge

This financial data table provides comprehensive performance metrics for LandBridge, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

LandBridge generated $179M in revenue over the last twelve months.
The company achieved $159M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $177M.
Net income over the last twelve months reached $72.6M.

Fiscal Year Performance

In the most recent fiscal year, LandBridge reported $110M in total revenue.
Fiscal year EBITDA was -$7.5M.
The company maintained a gross profit margin of 90.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was -6.8%.
Net profit margin reached 4.6% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for LandBridge. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

LandBridge Stock Performance

LandBridge has current market cap of $1.4B, and EV of $1.7B.

Market Cap Evolution

LandBridge Stock Data

As of October 17, 2025, LandBridge's stock price is $54.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.7B	$1.4B	XXX	XXX	XXX	XXX	$1.46

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LandBridge Valuation Multiples

LandBridge's trades at 15.6x EV/Revenue multiple, and -230.3x EV/EBITDA.

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LandBridge Financial Valuation Multiples

As of October 17, 2025, LandBridge has market cap of $1.4B and EV of $1.7B.

Equity research analysts estimate LandBridge's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

LandBridge has a P/E ratio of 18.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$1.4B	XXX	$1.4B	XXX	XXX	XXX
EV (current)	$1.7B	XXX	$1.7B	XXX	XXX	XXX
EV/Revenue	9.6x	XXX	15.6x	XXX	XXX	XXX
EV/EBITDA	10.8x	XXX	-230.3x	XXX	XXX	XXX
EV/EBIT	15.6x	XXX	-104.2x	XXX	XXX	XXX
EV/Gross Profit	9.7x	XXX	n/a	XXX	XXX	XXX
P/E	18.9x	XXX	267.9x	XXX	XXX	XXX
EV/FCF	21.4x	XXX	25.8x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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LandBridge Margins & Growth Rates

LandBridge's last 12 month revenue growth is 28%

LandBridge's revenue per employee in the last FY averaged n/a, while opex per employee averaged n/a for the same period.

LandBridge's rule of 40 is 134% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

LandBridge's rule of X is 159% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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LandBridge Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	28%	XXX	47%	XXX	XXX	XXX
EBITDA Margin	89%	XXX	-7%	XXX	XXX	XXX
EBITDA Growth	29%	XXX	33%	XXX	XXX	XXX
Rule of 40	134%	XXX	21%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	159%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	n/a	XXX	XXX	XXX
Opex per Employee	XXX	XXX	n/a	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	105%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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