LandBridge (LB) Cost of Revenue (2023 - 2026)
LandBridge's Cost of Revenue was $1.13 million in Q2 2026, up 131.7% from $489,000 a year earlier and up 185.4% from the prior quarter.
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Analysis
LandBridge (LB) Cost of Revenue (2023 - 2026) Analysis & Trends
On a trailing twelve-month basis, LandBridge's Cost of Revenue was $2.61 million through Jun 30, 2026, up 49.7% year-over-year; for FY2025, it was $2.03 million, down 4.1% from FY2024.
- In earlier years, Cost of Revenue was $2.11 million in FY2024 (-38.7%) and $3.45 million in FY2023.
- The Q2 2026 figure marks the highest quarterly Cost of Revenue in data going back to Q2 2023.
- Compared with a year earlier, Cost of Revenue was higher in four of the last eight quarters, with growth averaging 10.3%.
- The best year-over-year quarter for Cost of Revenue over five years was Q2 2026 (growth of 131.7%); the worst was Q3 2024 (a decline of 57.8%).
- Per Business Quant data, LB's Cost of Revenue in the three quarters before Q2 2026 was $397,000 (Q1 2026), $642,000 (Q4 2025) and $438,000 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Texas Pacific Land | 23.83 Bn | 22.66 Bn | - | - |
| 2 | St Joe | 3.87 Bn | 3.36 Bn | 73.42 Mn | 85.41 Mn |
| 3 | Millrose Properties | 3.65 Bn | 3.29 Bn | - | - |
| 4 | LandBridge | 2.24 Bn | 2.11 Bn | 65.71 Mn | 1.13 Mn |
| 5 | Opendoor Technologies | 1.97 Bn | -1.85 Bn | 86.00 Mn | 797.00 Mn |
| 6 | Forestar | 1.28 Bn | -66.65 Mn | 84.10 Mn | 322.90 Mn |
| 7 | Five Point Holdings | 634.45 Mn | -823.18 Mn | -23.72 Mn | 37.62 Mn |
| 8 | Tejon Ranch | 435.85 Mn | 355.47 Mn | - | - |
| 9 | Nam Tai Property | 260.01 Mn | 78.63 Mn | - | - |
| 10 | Global Asset Management | 215.67 Mn | 213.36 Mn | 236,261.00 | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.13 Mn |
| Mar 31, 2026 | 397,000.00 |
| Dec 31, 2025 | 642,000.00 |
| Sep 30, 2025 | 438,000.00 |
| Jun 30, 2025 | 489,000.00 |
| Mar 31, 2025 | 458,000.00 |
| Dec 31, 2024 | 374,000.00 |
| Sep 30, 2024 | 423,000.00 |
| Jun 30, 2024 | 643,000.00 |
| Mar 31, 2024 | 673,000.00 |
| Dec 31, 2023 | 364,000.00 |
| Sep 30, 2023 | 1.00 Mn |
| Jun 30, 2023 | 999,000.00 |
API Access
LandBridge Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=LB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "LB", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=LB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();