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Side-by-side financial comparison of LandBridge Co LLC (LB) and NETSTREIT Corp. (NTST). Click either name above to swap in a different company.
NETSTREIT Corp. is the larger business by last-quarter revenue ($57.1M vs $56.8M, roughly 1.0× LandBridge Co LLC). LandBridge Co LLC runs the higher net margin — 14.2% vs 10.0%, a 4.2% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs 24.3%). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (72.8% CAGR vs 20.1%).
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
LB vs NTST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $56.8M | $57.1M |
| Net Profit | $8.1M | $5.7M |
| Gross Margin | — | — |
| Operating Margin | 60.0% | — |
| Net Margin | 14.2% | 10.0% |
| Revenue YoY | 55.6% | 24.3% |
| Net Profit YoY | -83.7% | 235.9% |
| EPS (diluted) | $0.24 | $0.32 |
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 | — | $57.1M | ||
| Q4 25 | $56.8M | $52.5M | ||
| Q3 25 | $50.8M | $48.3M | ||
| Q2 25 | $47.5M | $48.3M | ||
| Q1 25 | $44.0M | $45.9M | ||
| Q4 24 | $36.5M | $44.1M | ||
| Q3 24 | $28.5M | $41.4M | ||
| Q2 24 | $26.0M | $39.6M |
| Q1 26 | — | $5.7M | ||
| Q4 25 | $8.1M | $1.3M | ||
| Q3 25 | $8.1M | $618.0K | ||
| Q2 25 | $7.5M | $3.3M | ||
| Q1 25 | $6.5M | $1.7M | ||
| Q4 24 | $49.3M | $-5.4M | ||
| Q3 24 | $2.7M | $-5.3M | ||
| Q2 24 | $-57.7M | $-2.3M |
| Q1 26 | — | — | ||
| Q4 25 | 60.0% | 2.6% | ||
| Q3 25 | 60.8% | 1.3% | ||
| Q2 25 | 60.0% | 6.8% | ||
| Q1 25 | 57.0% | 3.7% | ||
| Q4 24 | 49.4% | -12.3% | ||
| Q3 24 | 11.2% | -12.8% | ||
| Q2 24 | -197.4% | -5.8% |
| Q1 26 | — | 10.0% | ||
| Q4 25 | 14.2% | 2.5% | ||
| Q3 25 | 15.9% | 1.3% | ||
| Q2 25 | 15.8% | 6.8% | ||
| Q1 25 | 14.7% | 3.7% | ||
| Q4 24 | 135.2% | -12.3% | ||
| Q3 24 | 9.3% | -12.8% | ||
| Q2 24 | -222.1% | -5.8% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $0.24 | $0.01 | ||
| Q3 25 | $0.26 | $0.01 | ||
| Q2 25 | $0.24 | $0.04 | ||
| Q1 25 | $0.20 | $0.02 | ||
| Q4 24 | — | $-0.07 | ||
| Q3 24 | $-0.04 | $-0.07 | ||
| Q2 24 | — | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $30.7M | — |
| Total DebtLower is stronger | $570.7M | — |
| Stockholders' EquityBook value | $340.3M | $1.5B |
| Total Assets | $1.4B | $2.8B |
| Debt / EquityLower = less leverage | 1.68× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $30.7M | — | ||
| Q3 25 | $28.3M | — | ||
| Q2 25 | $20.3M | — | ||
| Q1 25 | $14.9M | — | ||
| Q4 24 | $37.0M | — | ||
| Q3 24 | $14.4M | — | ||
| Q2 24 | $24.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | $570.7M | $1.1B | ||
| Q3 25 | $366.1M | $1.1B | ||
| Q2 25 | $370.9M | $926.6M | ||
| Q1 25 | $375.5M | $913.3M | ||
| Q4 24 | $385.5M | $868.3M | ||
| Q3 24 | $242.4M | $778.7M | ||
| Q2 24 | $360.8M | $726.2M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $340.3M | $1.4B | ||
| Q3 25 | $272.0M | $1.3B | ||
| Q2 25 | $266.4M | $1.3B | ||
| Q1 25 | $217.0M | $1.3B | ||
| Q4 24 | $211.8M | $1.3B | ||
| Q3 24 | $97.2M | $1.3B | ||
| Q2 24 | $296.4M | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $1.4B | $2.6B | ||
| Q3 25 | $1.1B | $2.5B | ||
| Q2 25 | $1.1B | $2.3B | ||
| Q1 25 | $1.0B | $2.3B | ||
| Q4 24 | $1.0B | $2.3B | ||
| Q3 24 | $689.9M | $2.2B | ||
| Q2 24 | $710.5M | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | 0.76× | ||
| Q3 25 | 1.35× | 0.84× | ||
| Q2 25 | 1.39× | 0.70× | ||
| Q1 25 | 1.73× | 0.70× | ||
| Q4 24 | 1.82× | 0.65× | ||
| Q3 24 | 2.49× | 0.58× | ||
| Q2 24 | 1.22× | 0.55× |
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 | $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.
| Q1 26 | — | — | ||
| Q4 25 | $126.3M | $109.5M | ||
| Q3 25 | $34.9M | $28.0M | ||
| Q2 25 | $37.3M | $30.6M | ||
| Q1 25 | $15.9M | $22.1M | ||
| Q4 24 | $67.6M | $90.2M | ||
| Q3 24 | $7.5M | $25.1M | ||
| Q2 24 | $16.0M | $25.4M |
| Q1 26 | — | — | ||
| 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 | — | — | ||
| 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 | — | — | ||
| Q4 25 | 15.68× | 82.46× | ||
| Q3 25 | 4.31× | 45.27× | ||
| Q2 25 | 4.98× | 9.36× | ||
| Q1 25 | 2.46× | 13.06× | ||
| Q4 24 | 1.37× | — | ||
| Q3 24 | 2.80× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LB
Segment breakdown not available.
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
