LandBridge (LB) Gross Margin (2023 - 2026)
LandBridge (LB) recorded Gross Margin of 98.30% in Q2 2026, down 0.67 percentage points from 98.97% a year earlier and down 0.92 percentage points from the prior quarter.
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Analysis
LandBridge (LB) Gross Margin (2023 - 2026) Analysis & Trends
On a TTM basis, LandBridge's Gross Margin came in at 98.84% as of Jun 30, 2026, down 0.04 percentage points year-over-year; for FY2025, it was 98.98%, up 0.90 percentage points from FY2024.
- Across earlier years, Gross Margin came in at 98.08% in FY2024 (+2.81 pp) and 95.27% in FY2023.
- The Q2 2026 figure is the lowest quarterly Gross Margin since Q2 2024.
- On a year-over-year basis, Gross Margin rose in six of the last eight quarters, with an average year-over-year change of +1.16 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 4.15 percentage points in Q3 2024, against a drop of 0.67 percentage points in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 99.22% (Q1 2026), 98.87% (Q4 2025) and 99.14% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Texas Pacific Land | 19.11 Bn | 18.10 Bn | - | - |
| 2 | Howard Hughes Holdings | 5.04 Bn | -3.84 Bn | 435.75 Mn | 68.48% |
| 3 | Millrose Properties | 4.44 Bn | 4.25 Bn | - | - |
| 4 | St Joe | 4.20 Bn | 3.70 Bn | 80.65 Mn | 51.64% |
| 5 | Vesta Real Estate Corporation, S.A.B. de C.V | 3.25 Bn | 2.06 Bn | - | - |
| 6 | LandBridge | 1.86 Bn | 1.73 Bn | 65.71 Mn | 98.30% |
| 7 | Opendoor Technologies | 1.28 Bn | -2.49 Bn | 38.00 Mn | 3.72% |
| 8 | Forestar | 1.24 Bn | -111.63 Mn | 84.10 Mn | 20.66% |
| 9 | Tejon Ranch | 475.02 Mn | 406.89 Mn | - | - |
| 10 | Frp Holdings | 377.26 Mn | -71.79 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 98.30% |
| Mar 31, 2026 | 99.22% |
| Dec 31, 2025 | 98.87% |
| Sep 30, 2025 | 99.14% |
| Jun 30, 2025 | 98.97% |
| Mar 31, 2025 | 98.96% |
| Dec 31, 2024 | 98.98% |
| Sep 30, 2024 | 98.52% |
| Jun 30, 2024 | 97.52% |
| Mar 31, 2024 | 96.46% |
| Dec 31, 2023 | 97.91% |
| Sep 30, 2023 | 94.36% |
| Jun 30, 2023 | 95.40% |
API Access
LandBridge Gross Margin 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=gross-margin&ticker=LB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=LB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();