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Side-by-side financial comparison of LandBridge Co LLC (LB) and SNDL Inc. (SNDL). Click either name above to swap in a different company.
SNDL Inc. is the larger business by last-quarter revenue ($77.5M vs $51.0M, roughly 1.5× LandBridge Co LLC).
SNDL Inc. is a Canada-based consumer goods company focused primarily on the cannabis sector, offering a range of recreational and medical cannabis products, alongside craft beer, wine and spirit offerings. It operates across cultivation, product development, distribution and retail segments, serving both wholesale and retail customers mainly in the North American market.
LB vs SNDL — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2025
| Metric | | |
|---|---|---|
| Revenue | $51.0M | $77.5M |
| Net Profit | $17.9M | — |
| Gross Margin | — | 25.3% |
| Operating Margin | 57.2% | 6.7% |
| Net Margin | 35.0% | — |
| Revenue YoY | 16.0% | — |
| Net Profit YoY | 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 | $51.0M | — | ||
| Q4 25 | $56.8M | — | ||
| Q3 25 | $50.8M | — | ||
| Q2 25 | $47.5M | — | ||
| Q1 25 | $44.0M | $77.5M | ||
| Q4 24 | $36.5M | — | ||
| Q3 24 | $28.5M | — | ||
| Q2 24 | $26.0M | — |
| Q1 26 | $17.9M | — | ||
| Q4 25 | $8.1M | — | ||
| Q3 25 | $8.1M | — | ||
| Q2 25 | $7.5M | — | ||
| Q1 25 | $6.5M | — | ||
| Q4 24 | $49.3M | — | ||
| Q3 24 | $2.7M | — | ||
| Q2 24 | $-57.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 57.2% | — | ||
| Q4 25 | 60.0% | — | ||
| Q3 25 | 60.8% | — | ||
| Q2 25 | 60.0% | — | ||
| Q1 25 | 57.0% | 6.7% | ||
| Q4 24 | 49.4% | — | ||
| Q3 24 | 11.2% | — | ||
| Q2 24 | -197.4% | — |
| Q1 26 | 35.0% | — | ||
| Q4 25 | 14.2% | — | ||
| Q3 25 | 15.9% | — | ||
| Q2 25 | 15.8% | — | ||
| Q1 25 | 14.7% | — | ||
| Q4 24 | 135.2% | — | ||
| Q3 24 | 9.3% | — | ||
| Q2 24 | -222.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.26 | — | ||
| Q2 25 | $0.24 | — | ||
| Q1 25 | $0.20 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-0.04 | — | ||
| Q2 24 | — | — |
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 | $1.4B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.7M | — | ||
| 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 | $433.0K | — | ||
| Q4 25 | $570.7M | — | ||
| Q3 25 | $366.1M | — | ||
| Q2 25 | $370.9M | — | ||
| Q1 25 | $375.5M | — | ||
| Q4 24 | $385.5M | — | ||
| Q3 24 | $242.4M | — | ||
| Q2 24 | $360.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | $340.3M | — | ||
| Q3 25 | $272.0M | — | ||
| Q2 25 | $266.4M | — | ||
| Q1 25 | $217.0M | — | ||
| Q4 24 | $211.8M | — | ||
| Q3 24 | $97.2M | — | ||
| Q2 24 | $296.4M | — |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $689.9M | — | ||
| Q2 24 | $710.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 1.39× | — | ||
| Q1 25 | 1.73× | — | ||
| Q4 24 | 1.82× | — | ||
| Q3 24 | 2.49× | — | ||
| Q2 24 | 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 | $126.3M | — | ||
| Q3 25 | $34.9M | — | ||
| Q2 25 | $37.3M | — | ||
| Q1 25 | $15.9M | — | ||
| Q4 24 | $67.6M | — | ||
| Q3 24 | $7.5M | — | ||
| Q2 24 | $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 | 15.68× | — | ||
| Q3 25 | 4.31× | — | ||
| Q2 25 | 4.98× | — | ||
| Q1 25 | 2.46× | — | ||
| 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
| 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% |
SNDL
Segment breakdown not available.
