LandBridge Company (LB) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), LandBridge Company generated $126.27M of operating cash flow and spent $4.24M on capital expenditures. That left free cash flow of $122.04M, up 83.1% from $66.65M a year earlier, or 61.3% of revenue. It paid $63.71M in dividends.

LandBridge Company Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for LandBridge Company LLC (LB) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Operating Activities
Net Income	72.40	5.11	63.17	-6.36
Depreciation & Amortization	11.47	8.88	4.60	6.72
Deferred Income Tax	4.08	-0.41	0.00	0.00
Stock Based Compensation	45.32	95.34	-17.23	36.36
Change in Working Capital	-13.62	3.62	-1.80	-16.26
Change in Accounts Receivable	-9.67	1.04	-2.09	-6.34
Change in Accounts Payable	-3.64	2.41	0.36	-1.01
Change in Other Working Capital	2.21	1.69	-0.08	0.44
Other Operating Activities	2.21	1.69	4.30	0.04
Net Cash from Operating Activities	126.27	67.64	53.04	20.50
Investing Activities
Capital Expenditures	-4.24	-0.99	-2.78	-3.29
Acquisitions	-229.05	-723.37	0.00	-8.38
Other Investing Activities	0.21	0.00	0.01	0.00
Net Cash from Investing Activities	-233.07	-724.35	-2.77	-11.67
Financing Activities
Debt Repayment	-599.20	-162.96	72.58	-6.50
Common Stock Issued	0.00	617.55	0.00	10.98
Dividends Paid	-63.71	-178.24	-105.17	-1.14
Other Financing Activities	-20.13	-37.92	-5.22	-0.07
Net Cash from Financing Activities	100.51	655.93	-37.80	3.27
Summary
Net Change in Cash	-6.29	-0.79	12.47	12.10
Cash at Beginning of Period	37.03	37.82	25.35	13.25
Cash at End of Period	30.74	37.03	37.82	25.35
Free Cash Flow	122.04	66.65	50.26	17.21
Supplemental Disclosures
Interest Paid	26.96	19.68	5.91	3.20
Income Taxes Paid	8.73	0.39	0.21	8.50

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About LandBridge Company Cash Flow

What is LandBridge Company's free cash flow?

LandBridge Company generated free cash flow of $122.04M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $126.27M minus $4.24M of capital expenditures. That was up 83.1% from $66.65M a year earlier. Free cash flow equaled 61.3% of revenue.

How much does LandBridge Company spend on capital expenditures?

LandBridge Company spent $4.24M on capital expenditures in fiscal 2025, compared with $985.00K a year earlier. That equals 3.4% of operating cash flow.

Does LandBridge Company pay dividends or buy back shares?

Yes. In fiscal 2025 LandBridge Company returned $63.71M in dividends to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition