LandBridge (LB) Operating Margin (2023 - 2026)
LandBridge (LB) recorded Operating Margin of 66.07% in Q2 2026, up 6.10 percentage points from 59.96% a year earlier and up 8.86 percentage points from the prior quarter.
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Analysis
LandBridge (LB) Operating Margin (2023 - 2026) Analysis & Trends
On a TTM basis, LandBridge's Operating Margin came in at 61.34% as of Jun 30, 2026, up 13.57 percentage points year-over-year; for FY2025, it came in at 59.52%, up 74.54 percentage points from FY2024.
- Across earlier years, Operating Margin came in at -15.02% in FY2024 (-111.10 pp) and 96.08% in FY2023.
- The Q2 2026 figure is the highest quarterly Operating Margin since Q1 2024.
- On a year-over-year basis, Operating Margin has increased for five consecutive quarters, with an average year-over-year change of +28.99 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 257.38 percentage points in Q2 2025, against a drop of 406.06 percentage points in Q2 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 57.21% (Q1 2026), 60.01% (Q4 2025) and 60.76% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Texas Pacific Land | 22.67 Bn | 21.49 Bn | - | 77.96% |
| 2 | Eason Technology | 6.61 Bn | 6.61 Bn | - | - |
| 3 | LandBridge | 6.19 Bn | 6.54 Bn | 65.71 Mn | 66.07% |
| 4 | Millrose Properties | 4.09 Bn | 4.09 Bn | - | 85.16% |
| 5 | St Joe | 3.77 Bn | 3.27 Bn | 73.42 Mn | 34.49% |
| 6 | Vesta Real Estate Corporation, S.A.B. de C.V | 2.87 Bn | 2.87 Bn | - | 91.08% |
| 7 | Opendoor Technologies | 2.30 Bn | -1.52 Bn | 86.00 Mn | -16.31% |
| 8 | Forestar | 1.33 Bn | -18.53 Mn | 84.10 Mn | 11.25% |
| 9 | Five Point Holdings | 699.67 Mn | 728.44 Mn | -23.72 Mn | -325.18% |
| 10 | Tejon Ranch | 441.80 Mn | 376.78 Mn | - | 2.44% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 66.07% |
| Mar 31, 2026 | 57.21% |
| Dec 31, 2025 | 60.01% |
| Sep 30, 2025 | 60.76% |
| Jun 30, 2025 | 59.96% |
| Mar 31, 2025 | 56.97% |
| Dec 31, 2024 | 49.37% |
| Sep 30, 2024 | 11.19% |
| Jun 30, 2024 | -197.42% |
| Mar 31, 2024 | 71.11% |
| Dec 31, 2023 | 31.07% |
| Sep 30, 2023 | 107.33% |
| Jun 30, 2023 | 208.65% |
API Access
LandBridge Operating 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=operating-margin&ticker=LB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=LB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();