LandBridge Company LLC Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	24.53	5.11	63.17	-6.36
Depreciation & Amortization	10.31	8.88	8.76	6.72
Other Amortization	2.13	1.69	0.39	-
Gain (Loss) on Sale of Assets	-	-	-0.24	-
Stock-Based Compensation	44.78	95.34	-17.23	36.36
Change in Accounts Receivable	-9.06	1.04	-2.09	-6.34
Change in Accounts Payable	0.39	0.27	0.36	-1.58
Change in Other Net Operating Assets	-4.11	-0.53	0.74	-0.3
Other Operating Activities	40.99	-47	-	-
Operating Cash Flow	115.09	67.64	53.04	20.5
Operating Cash Flow Growth	116.36%	27.51%	158.74%	-
Acquisition of Real Estate Assets	-2.72	-0.99	-2.78	-3.29
Sale of Real Estate Assets	0.21	-	0.01	-
Net Sale / Acq. of Real Estate Assets	-2.51	-0.99	-2.77	-3.29
Cash Acquisition	-310.87	-723.37	-	-8.38
Investing Cash Flow	-313.38	-724.35	-2.77	-11.67
Long-Term Debt Issued	-	417.5	150	-
Long-Term Debt Repaid	-	-162.5	-77.42	-6.5
Net Debt Issued (Repaid)	88	255	72.58	-6.5
Issuance of Common Stock	339.29	737.55	-	10.98
Common Dividends Paid	-60.16	-178.24	-105.17	-1.14
Other Financing Activities	-154.93	-158.39	-5.22	-0.07
Net Cash Flow	13.9	-0.79	12.47	12.1
Cash Interest Paid	19.68	19.68	5.91	3.2
Cash Income Tax Paid	0.39	0.39	0.21	8.5
Levered Free Cash Flow	96.59	89.43	36.48	-
Unlevered Free Cash Flow	113.74	102.33	40.47	-
Change in Working Capital	-7.65	3.62	-1.8	-16.26

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q