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Side-by-side financial comparison of Claros Mortgage Trust, Inc. (CMTG) and LandBridge Co LLC (LB). Click either name above to swap in a different company.
LandBridge Co LLC is the larger business by last-quarter revenue ($56.8M vs $46.7M, roughly 1.2× Claros Mortgage Trust, Inc.). LandBridge Co LLC runs the higher net margin — 14.2% vs -468.9%, a 483.1% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs -22.4%). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (72.8% CAGR vs -10.9%).
Claros Mortgage Trust, Inc. is a U.S.-based real estate investment trust that invests in diversified mortgage-related assets, including residential and commercial mortgage loans and mortgage-backed securities. It pursues stable, risk-adjusted long-term returns for shareholders via rigorous asset evaluation and active portfolio management.
CMTG vs LB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $46.7M | $56.8M |
| Net Profit | $-219.2M | $8.1M |
| Gross Margin | — | — |
| Operating Margin | — | 60.0% |
| Net Margin | -468.9% | 14.2% |
| Revenue YoY | -22.4% | 55.6% |
| Net Profit YoY | -117.7% | -83.7% |
| EPS (diluted) | $-1.56 | $0.24 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $46.7M | $56.8M | ||
| Q3 25 | $46.1M | $50.8M | ||
| Q2 25 | $51.6M | $47.5M | ||
| Q1 25 | $43.4M | $44.0M | ||
| Q4 24 | $60.2M | $36.5M | ||
| Q3 24 | $64.9M | $28.5M | ||
| Q2 24 | $64.5M | $26.0M | ||
| Q1 24 | $58.8M | $19.0M |
| Q4 25 | $-219.2M | $8.1M | ||
| Q3 25 | $-9.5M | $8.1M | ||
| Q2 25 | $-181.7M | $7.5M | ||
| Q1 25 | $-78.6M | $6.5M | ||
| Q4 24 | $-100.7M | $49.3M | ||
| Q3 24 | $-56.2M | $2.7M | ||
| Q2 24 | $-11.6M | $-57.7M | ||
| Q1 24 | $-52.8M | $10.8M |
| Q4 25 | — | 60.0% | ||
| Q3 25 | — | 60.8% | ||
| Q2 25 | — | 60.0% | ||
| Q1 25 | — | 57.0% | ||
| Q4 24 | — | 49.4% | ||
| Q3 24 | — | 11.2% | ||
| Q2 24 | — | -197.4% | ||
| Q1 24 | — | 71.1% |
| Q4 25 | -468.9% | 14.2% | ||
| Q3 25 | -20.7% | 15.9% | ||
| Q2 25 | -351.9% | 15.8% | ||
| Q1 25 | -181.3% | 14.7% | ||
| Q4 24 | -167.2% | 135.2% | ||
| Q3 24 | -86.7% | 9.3% | ||
| Q2 24 | -17.9% | -222.1% | ||
| Q1 24 | -89.7% | 56.7% |
| Q4 25 | $-1.56 | $0.24 | ||
| Q3 25 | $-0.07 | $0.26 | ||
| Q2 25 | $-1.30 | $0.24 | ||
| Q1 25 | $-0.56 | $0.20 | ||
| Q4 24 | $-0.72 | — | ||
| Q3 24 | $-0.40 | $-0.04 | ||
| Q2 24 | $-0.09 | — | ||
| Q1 24 | $-0.39 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $173.2M | $30.7M |
| Total DebtLower is stronger | $3.2B | $570.7M |
| Stockholders' EquityBook value | $1.5B | $340.3M |
| Total Assets | $4.7B | $1.4B |
| Debt / EquityLower = less leverage | 2.06× | 1.68× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.2M | $30.7M | ||
| Q3 25 | $339.5M | $28.3M | ||
| Q2 25 | $209.2M | $20.3M | ||
| Q1 25 | $127.8M | $14.9M | ||
| Q4 24 | $99.1M | $37.0M | ||
| Q3 24 | $113.9M | $14.4M | ||
| Q2 24 | $148.2M | $24.6M | ||
| Q1 24 | $232.5M | — |
| Q4 25 | $3.2B | $570.7M | ||
| Q3 25 | $3.7B | $366.1M | ||
| Q2 25 | $4.0B | $370.9M | ||
| Q1 25 | $4.7B | $375.5M | ||
| Q4 24 | $4.9B | $385.5M | ||
| Q3 24 | $5.1B | $242.4M | ||
| Q2 24 | $5.3B | $360.8M | ||
| Q1 24 | $5.5B | — |
| Q4 25 | $1.5B | $340.3M | ||
| Q3 25 | $1.7B | $272.0M | ||
| Q2 25 | $1.8B | $266.4M | ||
| Q1 25 | $1.9B | $217.0M | ||
| Q4 24 | $2.0B | $211.8M | ||
| Q3 24 | $2.1B | $97.2M | ||
| Q2 24 | $2.2B | $296.4M | ||
| Q1 24 | $2.2B | $162.3M |
| Q4 25 | $4.7B | $1.4B | ||
| Q3 25 | $5.4B | $1.1B | ||
| Q2 25 | $5.8B | $1.1B | ||
| Q1 25 | $6.7B | $1.0B | ||
| Q4 24 | $7.0B | $1.0B | ||
| Q3 24 | $7.3B | $689.9M | ||
| Q2 24 | $7.6B | $710.5M | ||
| Q1 24 | $7.8B | — |
| Q4 25 | 2.06× | 1.68× | ||
| Q3 25 | 2.09× | 1.35× | ||
| Q2 25 | 2.29× | 1.39× | ||
| Q1 25 | 2.42× | 1.73× | ||
| Q4 24 | 2.44× | 1.82× | ||
| Q3 24 | 2.44× | 2.49× | ||
| Q2 24 | 2.46× | 1.22× | ||
| Q1 24 | 2.47× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-30.5M | $126.3M |
| Free Cash FlowOCF − Capex | — | $122.0M |
| FCF MarginFCF / Revenue | — | 214.9% |
| Capex IntensityCapex / Revenue | — | 7.5% |
| Cash ConversionOCF / Net Profit | — | 15.68× |
| TTM Free Cash FlowTrailing 4 quarters | — | $207.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-30.5M | $126.3M | ||
| Q3 25 | $8.8M | $34.9M | ||
| Q2 25 | $-5.8M | $37.3M | ||
| Q1 25 | $-35.8M | $15.9M | ||
| Q4 24 | $84.5M | $67.6M | ||
| Q3 24 | $39.2M | $7.5M | ||
| Q2 24 | $5.5M | $16.0M | ||
| Q1 24 | $21.5M | $17.2M |
| Q4 25 | — | $122.0M | ||
| Q3 25 | — | $33.7M | ||
| Q2 25 | — | $36.1M | ||
| Q1 25 | — | $15.8M | ||
| Q4 24 | — | $66.7M | ||
| Q3 24 | — | $7.1M | ||
| Q2 24 | — | $15.7M | ||
| Q1 24 | — | $17.1M |
| Q4 25 | — | 214.9% | ||
| Q3 25 | — | 66.3% | ||
| Q2 25 | — | 75.9% | ||
| Q1 25 | — | 36.0% | ||
| Q4 24 | — | 182.6% | ||
| Q3 24 | — | 25.1% | ||
| Q2 24 | — | 60.4% | ||
| Q1 24 | — | 90.1% |
| Q4 25 | — | 7.5% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 0.5% |
| Q4 25 | — | 15.68× | ||
| Q3 25 | — | 4.31× | ||
| Q2 25 | — | 4.98× | ||
| Q1 25 | — | 2.46× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 2.80× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMTG
| Real Estate Owned Portfolio | $34.2M | 73% |
| Other | $11.1M | 24% |
| Mixed Use Property Fixed Rents | $1.4M | 3% |
LB
Segment breakdown not available.
