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Side-by-side financial comparison of LandBridge Co LLC (LB) and PUMA BIOTECHNOLOGY, INC. (PBYI). Click either name above to swap in a different company.

PUMA BIOTECHNOLOGY, INC. is the larger business by last-quarter revenue ($75.5M vs $56.8M, roughly 1.3× LandBridge Co LLC). On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs 27.7%). LandBridge Co LLC produced more free cash flow last quarter ($122.0M vs $14.4M). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (72.8% CAGR vs 31.3%).

LB vs PBYI — Head-to-Head

Bigger by revenue
PBYI
PBYI
1.3× larger
PBYI
$75.5M
$56.8M
LB
Growing faster (revenue YoY)
LB
LB
+27.8% gap
LB
55.6%
27.7%
PBYI
More free cash flow
LB
LB
$107.7M more FCF
LB
$122.0M
$14.4M
PBYI
Faster 2-yr revenue CAGR
LB
LB
Annualised
LB
72.8%
31.3%
PBYI

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
LB
LB
PBYI
PBYI
Revenue
$56.8M
$75.5M
Net Profit
$8.1M
Gross Margin
69.3%
Operating Margin
60.0%
22.7%
Net Margin
14.2%
Revenue YoY
55.6%
27.7%
Net Profit YoY
-83.7%
EPS (diluted)
$0.24
$0.26

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.

Revenue
LB
LB
PBYI
PBYI
Q4 25
$56.8M
$75.5M
Q3 25
$50.8M
$54.5M
Q2 25
$47.5M
$52.4M
Q1 25
$44.0M
$46.0M
Q4 24
$36.5M
$59.1M
Q3 24
$28.5M
$80.5M
Q2 24
$26.0M
$47.1M
Q1 24
$19.0M
$43.8M
Net Profit
LB
LB
PBYI
PBYI
Q4 25
$8.1M
Q3 25
$8.1M
$8.8M
Q2 25
$7.5M
$5.9M
Q1 25
$6.5M
$3.0M
Q4 24
$49.3M
Q3 24
$2.7M
$20.3M
Q2 24
$-57.7M
$-4.5M
Q1 24
$10.8M
$-4.8M
Gross Margin
LB
LB
PBYI
PBYI
Q4 25
69.3%
Q3 25
77.7%
Q2 25
76.5%
Q1 25
77.1%
Q4 24
76.4%
Q3 24
63.9%
Q2 24
77.4%
Q1 24
75.5%
Operating Margin
LB
LB
PBYI
PBYI
Q4 25
60.0%
22.7%
Q3 25
60.8%
17.6%
Q2 25
60.0%
12.7%
Q1 25
57.0%
8.7%
Q4 24
49.4%
22.6%
Q3 24
11.2%
27.4%
Q2 24
-197.4%
-4.6%
Q1 24
71.1%
-5.3%
Net Margin
LB
LB
PBYI
PBYI
Q4 25
14.2%
Q3 25
15.9%
16.2%
Q2 25
15.8%
11.2%
Q1 25
14.7%
6.5%
Q4 24
135.2%
Q3 24
9.3%
25.2%
Q2 24
-222.1%
-9.6%
Q1 24
56.7%
-11.0%
EPS (diluted)
LB
LB
PBYI
PBYI
Q4 25
$0.24
$0.26
Q3 25
$0.26
$0.17
Q2 25
$0.24
$0.12
Q1 25
$0.20
$0.06
Q4 24
$0.40
Q3 24
$-0.04
$0.41
Q2 24
$-0.09
Q1 24
$-0.10

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
LB
LB
PBYI
PBYI
Cash + ST InvestmentsLiquidity on hand
$30.7M
$97.5M
Total DebtLower is stronger
$570.7M
$22.7M
Stockholders' EquityBook value
$340.3M
$130.3M
Total Assets
$1.4B
$216.3M
Debt / EquityLower = less leverage
1.68×
0.17×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
LB
LB
PBYI
PBYI
Q4 25
$30.7M
$97.5M
Q3 25
$28.3M
$94.4M
Q2 25
$20.3M
$96.0M
Q1 25
$14.9M
$93.2M
Q4 24
$37.0M
$101.0M
Q3 24
$14.4M
$96.7M
Q2 24
$24.6M
$96.8M
Q1 24
$107.2M
Total Debt
LB
LB
PBYI
PBYI
Q4 25
$570.7M
$22.7M
Q3 25
$366.1M
$34.0M
Q2 25
$370.9M
$45.3M
Q1 25
$375.5M
$56.7M
Q4 24
$385.5M
$68.0M
Q3 24
$242.4M
$79.3M
Q2 24
$360.8M
$90.7M
Q1 24
$102.0M
Stockholders' Equity
LB
LB
PBYI
PBYI
Q4 25
$340.3M
$130.3M
Q3 25
$272.0M
$115.3M
Q2 25
$266.4M
$104.7M
Q1 25
$217.0M
$97.1M
Q4 24
$211.8M
$92.1M
Q3 24
$97.2M
$71.1M
Q2 24
$296.4M
$48.5M
Q1 24
$162.3M
$51.0M
Total Assets
LB
LB
PBYI
PBYI
Q4 25
$1.4B
$216.3M
Q3 25
$1.1B
$202.9M
Q2 25
$1.1B
$194.9M
Q1 25
$1.0B
$196.2M
Q4 24
$1.0B
$213.3M
Q3 24
$689.9M
$220.7M
Q2 24
$710.5M
$205.0M
Q1 24
$214.1M
Debt / Equity
LB
LB
PBYI
PBYI
Q4 25
1.68×
0.17×
Q3 25
1.35×
0.30×
Q2 25
1.39×
0.43×
Q1 25
1.73×
0.58×
Q4 24
1.82×
0.74×
Q3 24
2.49×
1.12×
Q2 24
1.22×
1.87×
Q1 24
2.00×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
LB
LB
PBYI
PBYI
Operating Cash FlowLast quarter
$126.3M
$14.4M
Free Cash FlowOCF − Capex
$122.0M
$14.4M
FCF MarginFCF / Revenue
214.9%
19.1%
Capex IntensityCapex / Revenue
7.5%
0.0%
Cash ConversionOCF / Net Profit
15.68×
TTM Free Cash FlowTrailing 4 quarters
$207.7M
$41.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
LB
LB
PBYI
PBYI
Q4 25
$126.3M
$14.4M
Q3 25
$34.9M
$9.7M
Q2 25
$37.3M
$14.1M
Q1 25
$15.9M
$3.6M
Q4 24
$67.6M
$15.6M
Q3 24
$7.5M
$11.0M
Q2 24
$16.0M
$1.0M
Q1 24
$17.2M
$11.2M
Free Cash Flow
LB
LB
PBYI
PBYI
Q4 25
$122.0M
$14.4M
Q3 25
$33.7M
$9.7M
Q2 25
$36.1M
$14.1M
Q1 25
$15.8M
$3.6M
Q4 24
$66.7M
$15.6M
Q3 24
$7.1M
$11.0M
Q2 24
$15.7M
$1.0M
Q1 24
$17.1M
FCF Margin
LB
LB
PBYI
PBYI
Q4 25
214.9%
19.1%
Q3 25
66.3%
17.7%
Q2 25
75.9%
26.8%
Q1 25
36.0%
7.7%
Q4 24
182.6%
26.4%
Q3 24
25.1%
13.7%
Q2 24
60.4%
2.1%
Q1 24
90.1%
Capex Intensity
LB
LB
PBYI
PBYI
Q4 25
7.5%
0.0%
Q3 25
2.3%
0.0%
Q2 25
2.6%
0.0%
Q1 25
0.2%
0.1%
Q4 24
2.7%
0.0%
Q3 24
1.1%
0.0%
Q2 24
1.4%
0.0%
Q1 24
0.5%
0.0%
Cash Conversion
LB
LB
PBYI
PBYI
Q4 25
15.68×
Q3 25
4.31×
1.10×
Q2 25
4.98×
2.41×
Q1 25
2.46×
1.21×
Q4 24
1.37×
Q3 24
2.80×
0.54×
Q2 24
Q1 24
1.60×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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