LandBridge Reports Strong Q4 and 2025 Results

Highlights include rapid growth, expanding commercial activity, and higher shareholder returns

Mar. 3, 2026 at 6:23am

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LandBridge (NYSE:LB) executives highlighted rapid growth, expanding commercial activity across West Texas acreage, and a higher shareholder return framework during the company's fourth-quarter and full-year 2025 results call. The company reported 81% revenue growth and 83% EBITDA growth for the full year 2025, with strong sequential increases in Q4.

Why it matters

LandBridge's performance demonstrates its ability to capitalize on the energy and infrastructure development opportunities in the Delaware Basin, diversifying its revenue streams beyond just oil and gas royalties. The company's active land management strategy and focus on higher-value commercial agreements are driving significant growth in revenue per acre.

The details

In Q4 2025, LandBridge reported revenue of $56.8 million, up 12% sequentially and 56% year-over-year. For the full year, revenue totaled $199.1 million, up 81% year-over-year. Adjusted EBITDA was $51.1 million in Q4, up 14% sequentially and 61% year-over-year, with a 90% margin. The company generated $36.4 million of free cash flow in Q4 (64% margin) and $122 million for the full year (61% margin).

  • LandBridge reported its Q4 and full-year 2025 results on February 28, 2026.
  • The company plans to hold an Investor Day on March 19, 2026 in New York City.

The players

LandBridge

A Houston-based company that owns and manages land and resources to support oil and natural gas development in the United States, with a focus on the Delaware Basin in Texas and New Mexico.

Jason Long

Chief Executive Officer of LandBridge.

Scott McNeely

Chief Financial Officer of LandBridge.

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What they’re saying

“2025 was 'a year of accretive expansion,' with the fourth quarter marking LandBridge's seventh consecutive quarter of revenue growth as a public company.”

— Jason Long, Chief Executive Officer

“Across the full acreage portfolio, LandBridge delivered SUEE growth of 21% year-over-year, with average revenue per acre rising from $543 to $658.”

— Jason Long, Chief Executive Officer

What’s next

LandBridge plans to hold an Investor Day on March 19, 2026 in New York City, where the company's leadership team will provide further details on its growth strategy and outlook.

The takeaway

LandBridge's strong financial performance and diversified commercial agreements demonstrate its ability to capitalize on the energy and infrastructure development opportunities in the Delaware Basin, while also returning capital to shareholders through increased dividends and a new share repurchase program.