LandBridge (LB) Net Margin (2023 - 2026)
LandBridge (LB) recorded Net Margin of 46.45% in Q2 2026, up 7.58 percentage points from 38.87% a year earlier and up 11.42 percentage points from the prior quarter.
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Analysis
LandBridge (LB) Net Margin (2023 - 2026) Analysis & Trends
On a TTM basis, LandBridge's Net Margin came in at 38.76% as of Jun 30, 2026, down 16.34 percentage points year-over-year; for FY2025, it came in at 36.36%, up 74.09 percentage points from FY2024.
- Across earlier years, Net Margin came in at -37.72% in FY2024 (-124.42 pp) and 86.70% in FY2023.
- The Q2 2026 figure is the highest quarterly Net Margin since Q4 2024.
- On a year-over-year basis, Net Margin rose in four of the last eight quarters, with an average year-over-year change of +26.37 percentage points.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 261.01 percentage points in Q2 2025, against a drop of 427.76 percentage points in Q2 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 35.03% (Q1 2026), 32.01% (Q4 2025) and 39.92% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Texas Pacific Land | 19.07 Bn | 18.06 Bn | - | 61.22% |
| 2 | Howard Hughes Holdings | 5.05 Bn | -3.82 Bn | 435.75 Mn | -0.17% |
| 3 | Millrose Properties | 4.44 Bn | 4.26 Bn | - | 61.61% |
| 4 | St Joe | 4.22 Bn | 3.72 Bn | 80.65 Mn | 23.64% |
| 5 | Vesta Real Estate Corporation, S.A.B. de C.V | 3.25 Bn | 2.06 Bn | - | 138.94% |
| 6 | LandBridge | 1.86 Bn | 1.73 Bn | 65.71 Mn | 46.45% |
| 7 | Opendoor Technologies | 1.28 Bn | -2.49 Bn | 38.00 Mn | -21.33% |
| 8 | Forestar | 1.24 Bn | -112.65 Mn | 84.10 Mn | 8.82% |
| 9 | Tejon Ranch | 475.15 Mn | 407.03 Mn | - | 14.59% |
| 10 | Frp Holdings | 376.70 Mn | -72.35 Mn | - | -2.34% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 46.45% |
| Mar 31, 2026 | 35.03% |
| Dec 31, 2025 | 32.01% |
| Sep 30, 2025 | 39.92% |
| Jun 30, 2025 | 38.87% |
| Mar 31, 2025 | 35.17% |
| Dec 31, 2024 | 22.34% |
| Sep 30, 2024 | -9.67% |
| Jun 30, 2024 | -222.14% |
| Mar 31, 2024 | 56.67% |
| Dec 31, 2023 | 14.45% |
| Sep 30, 2023 | 93.45% |
| Jun 30, 2023 | 205.62% |
API Access
LandBridge Net 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=net-margin&ticker=LB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=LB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();