LB on NYSE

LandBridge Corp

LandBridge was formed on September 27, 2023 as a Delaware limited liability company to serve as the issuer in an initial public offering of equity, which closed on July 1, 2024 (the “IPO”).4 From its latest annual report

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Last updated Oct 19, 2026.

Overview

$199.1MRevenue, fiscal 20252
$30.1MNet income, fiscal 20252

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  • TickerLB on NYSE1
  • IndustryOil Royalty Traders1
  • HeadquartersHouston, Texas1
  • Incorporated inTX3
  • Business address5555 San Felipe Street, Suite 1200, Houston, Tx 770563
  • Filer categoryLarge accelerated filer3
  • Legal formLimited Liability Company

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LandBridge was formed on September 27, 2023 as a Delaware limited liability company to serve as the issuer in an initial public offering of equity, which closed on July 1, 2024 (the “IPO”). LandBridge is a holding company, the principal asset of which is membership interests in OpCo. LandBridge is also the sole managing member of OpCo. Unless otherwise indicated or the context otherwise requires, references in this Annual Report to “LandBridge”, “us,” “we,” “our” or the “Company” are to (i) OpCo and its subsidiaries before the completion of the corporate reorganization in connection with the IPO (the “Corporate Reorganization”) and (ii) LandBridge and its subsidiaries as of the completion of the Corporate Reorganization.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

59.5%Operating margin2
15.1%Net margin2
81.1%Revenue growth, 20252
8.9%Return on equity2
1.64×Debt to equity2

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs80¢$159.9M
  • Income tax5¢$9.1M
  • Profit15¢$30.1M

Out of $199.1M in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid50¢$63.7M
  • Kept or used elsewhere50¢$62.6M

Out of $126.3M of cash from operations.2

Financial statements

Revenue2$199.1M in 2025+173% since 2023
0$50.0M$100.0M$150.0M$200.0M2023: $72.9M$72.9M20232024: $110.0M$110.0M2024+51%2025: $199.1M$199.1M2025+81%
Operating income2$118.5M in 2025+69% since 2023
-$50.0M0$50.0M$100.0M$150.0M2023: $70.0M$70.0M20232024: -$16.5M-$16.5M20242025: $118.5M$118.5M2025
Net income2$30.1M in 2025−52% since 2023
0$20.0M$40.0M$60.0M$80.0M2023: $63.2M$63.2M20232024: $5.1M$5.1M2024−92%2025: $30.1M$30.1M2025+490%
Fiscal year2022202320242025
Revenue$72.9M2$110.0M2$199.1M2
Operating income$70.0M2-$16.5M2$118.5M2
Income before tax$63.5M2-$39.6M2$81.5M2
Income tax$370.0K2$1.9M2$9.1M2
Net income$63.2M2$5.1M2$30.1M2
Earnings per share$0.282$1.182
Earnings per share (diluted)$0.072$0.942
Shares (weighted, basic)17.8M shares224.8M shares2
Shares (weighted, diluted)73.4M shares276.5M shares2

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Leadership

Who has led LandBridge Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jason Thomas Long2024
2025
Board members and other officers (13)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorBen S. Moore named Jul 12, 202423
  • DirectorCharles S. Watson named Jul 12, 202423

Former names

  • LandBridge Co LLCOct 11, 2023 to Oct 1, 20263

Timeline

  1. Jun 27, 2024New chief executive Jason Thomas Long becomes CEO10

Filings

196 filings to the SEC since October 2021: 2 annual reports, 7 quarterly reports, 30 major events, 65 insider forms, 31 large holders, 1 private raises, 60 other. The latest 20:

  1. Oct 14, 202625-NSE EDGAR
  2. Oct 14, 202625-NSE EDGAR
  3. Oct 13, 2026S-8 POS EDGAR
  4. Oct 13, 2026POSASR EDGAR
  5. Oct 13, 2026POSASR EDGAR
  6. Oct 13, 20268-A12B/A EDGAR
  7. Oct 13, 20268-A12B/A EDGAR
  8. Oct 13, 20268-K12B EDGAR
  9. Oct 1, 20268-K EDGAR
  10. Sep 23, 2026DEF 14C EDGAR
  11. Sep 22, 20268-K EDGAR
  12. Sep 22, 20268-K EDGAR
  13. Sep 21, 20268-K EDGAR
  14. Aug 19, 2026PRE 14C EDGAR
  15. Aug 14, 2026SCHEDULE 13G/A EDGAR
  16. Aug 11, 20264 EDGAR
  17. Aug 11, 20264 EDGAR
  18. Aug 11, 2026SCHEDULE 13D/A EDGAR
  19. Aug 7, 2026144 EDGAR
  20. Aug 6, 20264 EDGAR

The 196 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

16 open-market trades by officers, directors and large owners since October 2021: 6 buys and 10 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 7, 2026Five Point Energy GP II LLCDirectorSale1,250,000$75.05$93.8MForm 4
Aug 7, 2026Capobianco David NDirectorSale1,250,000$75.05$93.8MForm 4
Mar 6, 2026WATSON CHARLES L.DirectorSale13,000$75.00$975.0KForm 4
Mar 4, 2026WATSON CHARLES L.DirectorSale9,670$75.19$727.1KForm 4
Mar 2, 2026WATSON CHARLES L.DirectorSale30,680$74.07$2.3MForm 4
Jan 6, 2026McNeely Scott LloydSee RemarksBuy549$45.49$25.0KForm 4
Jan 5, 2026Bolling Harrison FennerSee RemarksBuy850$46.84$39.8KForm 4
Jan 5, 2026Long Jason ThomasSee RemarksBuy2,143$46.59$99.8KForm 4
Nov 18, 2025Five Point Energy Fund III AIV-VIII LPDirectorSale2,500,000$70.00$175.0MForm 4
Nov 18, 2025Five Point Energy GP III LPDirectorSale2,500,000$70.00$175.0MForm 4
Nov 18, 2025Capobianco David NDirectorSale2,500,000$70.00$175.0MForm 4
May 23, 2025Five Point Energy GP II LPDirectorSale1,900,000$75.25$143.0MForm 4
May 23, 2025Capobianco David NDirectorSale1,900,000$75.25$143.0MForm 4
Jul 1, 2024Chase ValerieDirectorBuy2,925$17.00$49.7KForm 4
Jul 1, 2024Daul Ty P.DirectorBuy8,800$17.00$149.6KForm 4
Jul 1, 2024WATSON CHARLES L.DirectorBuy117,600$17.00$2.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jul 1, 2024Raised $12.8 million in a private offering of equity Form D: 1 investor so far Form D

Sources

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