Filing Flows › LandBridge (LB) › Q4 2025
LandBridge (LB) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
LandBridge (LB) reported revenue of $56.8M for the fourth quarter 2025 (Q4 2025), +56% from a year earlier and +12% from the quarter before. Operating margin was 60.0%, net earnings $8.1M (14.2% of revenue).
LandBridge, Q4 2025: revenue $56.8M (+56% year over year), operating margin 60.0%, net earnings $8.1M, operating cash flow $38.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $56.8M | +12% | +56% |
| Operating profit | $34.1M | +10% | +89% |
| Net earnings | $8.1M | -0.6% | +228% |
| Operating cash flow | $38.1M | +9% | +42% |
| Free cash flow | $36.4M | +8% | +36% |
What changed
Revenue was $56.8M in Q4 2025, up 56% year over year and up 12% from the previous quarter.
Operating profit was $34.1M, a 60.0% margin (up 10.6 points year over year). Of the extra revenue versus a year earlier, 79% reached operating profit, above the 49% margin then. Total costs grew 23% against revenue growth of 56%. Net earnings were $8.1M, up 228% year over year. The effective tax rate was 12.6%.
Operating cash flow was $38.1M (up 42% year over year), 210% of net income including minority interests. Non-cash charges added back $3.7M of depreciation and amortization and $11.7M of share-based compensation. Working capital and other items added $4.5M. Capital expenditures of $1.7M left free cash flow of $36.4M.
Questions
What was LandBridge's revenue in the fourth quarter 2025?
LandBridge (LB) reported revenue of $56.8M for the fourth quarter 2025 (Q4 2025), +56% from a year earlier and +12% from the quarter before.
Was LandBridge profitable in the fourth quarter 2025?
Operating profit was $34.1M (60.0% of revenue) and net earnings $8.1M.
Source: LandBridge 10-K on SEC EDGAR.