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Side-by-side financial comparison of GLADSTONE COMMERCIAL CORP (GOOD) 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 ($51.0M vs $41.9M, roughly 1.2× GLADSTONE COMMERCIAL CORP). LandBridge Co LLC runs the higher net margin — 35.0% vs 16.6%, a 18.4% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (16.0% vs -3.6%). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (40.2% CAGR vs 6.3%).
Gladstone Commercial Corp is a publicly traded US real estate investment trust focused on acquiring, owning, and operating diversified industrial and commercial properties. It offers long-term net lease agreements to tenants across manufacturing, logistics, healthcare and professional services sectors, mainly serving small to mid-sized business clients.
GOOD vs LB — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $41.9M | $51.0M |
| Net Profit | $7.0M | $17.9M |
| Gross Margin | — | — |
| Operating Margin | 160.2% | 57.2% |
| Net Margin | 16.6% | 35.0% |
| Revenue YoY | -3.6% | 16.0% |
| Net Profit YoY | 29.5% | 15.6% |
| EPS (diluted) | — | — |
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.
| Q1 26 | $41.9M | $51.0M | ||
| Q4 25 | $43.5M | $56.8M | ||
| Q3 25 | $40.8M | $50.8M | ||
| Q2 25 | $39.5M | $47.5M | ||
| Q1 25 | $37.5M | $44.0M | ||
| Q4 24 | $37.4M | $36.5M | ||
| Q3 24 | $39.2M | $28.5M | ||
| Q2 24 | $37.1M | $26.0M |
| Q1 26 | $7.0M | $17.9M | ||
| Q4 25 | $5.4M | $8.1M | ||
| Q3 25 | $4.1M | $8.1M | ||
| Q2 25 | $4.6M | $7.5M | ||
| Q1 25 | $5.1M | $6.5M | ||
| Q4 24 | $7.2M | $49.3M | ||
| Q3 24 | $11.7M | $2.7M | ||
| Q2 24 | $1.6M | $-57.7M |
| Q1 26 | 160.2% | 57.2% | ||
| 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 26 | 16.6% | 35.0% | ||
| Q4 25 | 12.4% | 14.2% | ||
| Q3 25 | 10.1% | 15.9% | ||
| Q2 25 | 11.7% | 15.8% | ||
| Q1 25 | 13.7% | 14.7% | ||
| Q4 24 | 19.2% | 135.2% | ||
| Q3 24 | 29.8% | 9.3% | ||
| Q2 24 | 4.3% | -222.1% |
| Q1 26 | — | — | ||
| Q4 25 | $0.05 | $0.24 | ||
| Q3 25 | $0.02 | $0.26 | ||
| Q2 25 | $0.03 | $0.24 | ||
| Q1 25 | $0.04 | $0.20 | ||
| Q4 24 | $0.10 | — | ||
| Q3 24 | $0.20 | $-0.04 | ||
| Q2 24 | $-0.04 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $29.7M |
| Total DebtLower is stronger | — | $433.0K |
| Stockholders' EquityBook value | — | — |
| Total Assets | $1.2B | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.7M | ||
| Q4 25 | $10.8M | $30.7M | ||
| Q3 25 | $18.4M | $28.3M | ||
| Q2 25 | $11.7M | $20.3M | ||
| Q1 25 | $10.4M | $14.9M | ||
| Q4 24 | $11.0M | $37.0M | ||
| Q3 24 | $10.5M | $14.4M | ||
| Q2 24 | $10.4M | $24.6M |
| Q1 26 | — | $433.0K | ||
| Q4 25 | $843.5M | $570.7M | ||
| Q3 25 | $843.3M | $366.1M | ||
| Q2 25 | $794.4M | $370.9M | ||
| Q1 25 | $740.7M | $375.5M | ||
| Q4 24 | $693.4M | $385.5M | ||
| Q3 24 | $692.6M | $242.4M | ||
| Q2 24 | $722.5M | $360.8M |
| Q1 26 | — | — | ||
| Q4 25 | $171.8M | $340.3M | ||
| Q3 25 | $184.8M | $272.0M | ||
| Q2 25 | $177.2M | $266.4M | ||
| Q1 25 | $183.2M | $217.0M | ||
| Q4 24 | $171.2M | $211.8M | ||
| Q3 24 | $168.9M | $97.2M | ||
| Q2 24 | $145.7M | $296.4M |
| Q1 26 | $1.2B | $1.4B | ||
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $1.1B | $689.9M | ||
| Q2 24 | $1.1B | $710.5M |
| Q1 26 | — | — | ||
| Q4 25 | 4.91× | 1.68× | ||
| Q3 25 | 4.56× | 1.35× | ||
| Q2 25 | 4.48× | 1.39× | ||
| Q1 25 | 4.04× | 1.73× | ||
| Q4 24 | 4.05× | 1.82× | ||
| Q3 24 | 4.10× | 2.49× | ||
| Q2 24 | 4.96× | 1.22× |
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 | — | $41.1M |
| Free Cash FlowOCF − Capex | — | $40.9M |
| FCF MarginFCF / Revenue | — | 80.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 2.30× |
| TTM Free Cash FlowTrailing 4 quarters | — | $232.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $41.1M | ||
| Q4 25 | $88.2M | $126.3M | ||
| Q3 25 | $18.9M | $34.9M | ||
| Q2 25 | $35.8M | $37.3M | ||
| Q1 25 | $17.7M | $15.9M | ||
| Q4 24 | $57.0M | $67.6M | ||
| Q3 24 | $5.5M | $7.5M | ||
| Q2 24 | $13.6M | $16.0M |
| Q1 26 | — | $40.9M | ||
| 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 26 | — | 80.3% | ||
| 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 26 | — | — | ||
| 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 26 | — | 2.30× | ||
| Q4 25 | 16.38× | 15.68× | ||
| Q3 25 | 4.57× | 4.31× | ||
| Q2 25 | 7.74× | 4.98× | ||
| Q1 25 | 3.44× | 2.46× | ||
| Q4 24 | 7.93× | 1.37× | ||
| Q3 24 | 0.47× | 2.80× | ||
| Q2 24 | 8.44× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GOOD
Segment breakdown not available.
LB
| Other | $14.2M | 28% |
| Easements and other surface-related revenues | $11.6M | 23% |
| Surface use royalties - related party | $11.0M | 22% |
| Resource sales | $5.2M | 10% |
| Resource royalties | $4.3M | 8% |
| Easements and other surface-related revenues - related party | $3.2M | 6% |
| Resource royalties - related party | $1.3M | 2% |
| Resource sales - related party | $205.0K | 0% |
