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Side-by-side financial comparison of LandBridge Co LLC (LB) and STEM, INC. (STEM). Click either name above to swap in a different company.
LandBridge Co LLC is the larger business by last-quarter revenue ($56.8M vs $47.1M, roughly 1.2× STEM, INC.). LandBridge Co LLC runs the higher net margin — 14.2% vs -33.9%, a 48.1% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs -15.6%). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (72.8% CAGR vs 36.1%).
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
LB vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $56.8M | $47.1M |
| Net Profit | $8.1M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | 60.0% | -17.7% |
| Net Margin | 14.2% | -33.9% |
| Revenue YoY | 55.6% | -15.6% |
| Net Profit YoY | -83.7% | 68.8% |
| EPS (diluted) | $0.24 | $-4.40 |
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 | $56.8M | $47.1M | ||
| Q3 25 | $50.8M | $38.2M | ||
| Q2 25 | $47.5M | $38.4M | ||
| Q1 25 | $44.0M | $32.5M | ||
| Q4 24 | $36.5M | $55.8M | ||
| Q3 24 | $28.5M | $29.3M | ||
| Q2 24 | $26.0M | $34.0M | ||
| Q1 24 | $19.0M | $25.5M |
| Q4 25 | $8.1M | $-16.0M | ||
| Q3 25 | $8.1M | $-23.8M | ||
| Q2 25 | $7.5M | $202.5M | ||
| Q1 25 | $6.5M | $-25.0M | ||
| Q4 24 | $49.3M | $-51.1M | ||
| Q3 24 | $2.7M | $-148.3M | ||
| Q2 24 | $-57.7M | $-582.3M | ||
| Q1 24 | $10.8M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | 60.0% | -17.7% | ||
| Q3 25 | 60.8% | -33.6% | ||
| Q2 25 | 60.0% | -34.8% | ||
| Q1 25 | 57.0% | -65.0% | ||
| Q4 24 | 49.4% | -84.4% | ||
| Q3 24 | 11.2% | -493.2% | ||
| Q2 24 | -197.4% | -1705.5% | ||
| Q1 24 | 71.1% | -267.0% |
| Q4 25 | 14.2% | -33.9% | ||
| Q3 25 | 15.9% | -62.2% | ||
| Q2 25 | 15.8% | 527.8% | ||
| Q1 25 | 14.7% | -76.9% | ||
| Q4 24 | 135.2% | -91.6% | ||
| Q3 24 | 9.3% | -506.3% | ||
| Q2 24 | -222.1% | -1712.6% | ||
| Q1 24 | 56.7% | -283.9% |
| Q4 25 | $0.24 | $-4.40 | ||
| Q3 25 | $0.26 | $-2.84 | ||
| Q2 25 | $0.24 | $-1.79 | ||
| Q1 25 | $0.20 | $-0.15 | ||
| Q4 24 | — | $-15.29 | ||
| Q3 24 | $-0.04 | $-18.24 | ||
| Q2 24 | — | $-71.81 | ||
| Q1 24 | — | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | $570.7M | — |
| Stockholders' EquityBook value | $340.3M | $-249.4M |
| Total Assets | $1.4B | $308.9M |
| Debt / EquityLower = less leverage | 1.68× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.7M | $48.9M | ||
| Q3 25 | $28.3M | $43.1M | ||
| Q2 25 | $20.3M | $40.8M | ||
| Q1 25 | $14.9M | $58.6M | ||
| Q4 24 | $37.0M | $56.3M | ||
| Q3 24 | $14.4M | $75.4M | ||
| Q2 24 | $24.6M | $89.6M | ||
| Q1 24 | — | $112.8M |
| 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 24 | — | — |
| Q4 25 | $340.3M | $-249.4M | ||
| Q3 25 | $272.0M | $-235.7M | ||
| Q2 25 | $266.4M | $-214.1M | ||
| Q1 25 | $217.0M | $-417.5M | ||
| Q4 24 | $211.8M | $-398.4M | ||
| Q3 24 | $97.2M | $-344.1M | ||
| Q2 24 | $296.4M | $-203.2M | ||
| Q1 24 | $162.3M | $371.6M |
| Q4 25 | $1.4B | $308.9M | ||
| Q3 25 | $1.1B | $362.6M | ||
| Q2 25 | $1.1B | $379.2M | ||
| Q1 25 | $1.0B | $405.1M | ||
| Q4 24 | $1.0B | $437.4M | ||
| Q3 24 | $689.9M | $537.8M | ||
| Q2 24 | $710.5M | $691.5M | ||
| Q1 24 | — | $1.3B |
| 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× | — | ||
| Q1 24 | — | — |
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 | $8.2M |
| 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 | $126.3M | $8.2M | ||
| Q3 25 | $34.9M | $11.4M | ||
| Q2 25 | $37.3M | $-21.3M | ||
| Q1 25 | $15.9M | $8.5M | ||
| Q4 24 | $67.6M | $-14.7M | ||
| Q3 24 | $7.5M | $-9.4M | ||
| Q2 24 | $16.0M | $-11.9M | ||
| Q1 24 | $17.2M | $-621.0K |
| 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× | -0.11× | ||
| 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.
