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Side-by-side financial comparison of LandBridge Co LLC (LB) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $56.8M, roughly 1.8× LandBridge Co LLC). LandBridge Co LLC runs the higher net margin — 14.2% vs -7.0%, a 21.2% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs 14.5%). LandBridge Co LLC produced more free cash flow last quarter ($122.0M vs $14.1M). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (72.8% CAGR vs -4.9%).
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
LB vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $56.8M | $100.0M |
| Net Profit | $8.1M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 60.0% | -10.7% |
| Net Margin | 14.2% | -7.0% |
| Revenue YoY | 55.6% | 14.5% |
| Net Profit YoY | -83.7% | 76.0% |
| EPS (diluted) | $0.24 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $50.8M | $161.9M | ||
| Q2 25 | $47.5M | $172.6M | ||
| Q1 25 | $44.0M | $111.4M | ||
| Q4 24 | $36.5M | $87.3M | ||
| Q3 24 | $28.5M | $150.5M | ||
| Q2 24 | $26.0M | $160.1M | ||
| Q1 24 | $19.0M | $110.6M |
| Q4 25 | $8.1M | $-7.0M | ||
| Q3 25 | $8.1M | $8.1M | ||
| Q2 25 | $7.5M | $16.0M | ||
| Q1 25 | $6.5M | $-6.0M | ||
| Q4 24 | $49.3M | $-29.2M | ||
| Q3 24 | $2.7M | $5.9M | ||
| Q2 24 | $-57.7M | $13.3M | ||
| Q1 24 | $10.8M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | 60.0% | -10.7% | ||
| Q3 25 | 60.8% | 13.3% | ||
| Q2 25 | 60.0% | 14.3% | ||
| Q1 25 | 57.0% | -4.4% | ||
| Q4 24 | 49.4% | -14.9% | ||
| Q3 24 | 11.2% | 8.9% | ||
| Q2 24 | -197.4% | 12.5% | ||
| Q1 24 | 71.1% | -1.9% |
| Q4 25 | 14.2% | -7.0% | ||
| Q3 25 | 15.9% | 5.0% | ||
| Q2 25 | 15.8% | 9.3% | ||
| Q1 25 | 14.7% | -5.4% | ||
| Q4 24 | 135.2% | -33.4% | ||
| Q3 24 | 9.3% | 3.9% | ||
| Q2 24 | -222.1% | 8.3% | ||
| Q1 24 | 56.7% | -7.1% |
| Q4 25 | $0.24 | $-0.06 | ||
| Q3 25 | $0.26 | $0.07 | ||
| Q2 25 | $0.24 | $0.13 | ||
| Q1 25 | $0.20 | $-0.05 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | $-0.04 | $0.05 | ||
| Q2 24 | — | $0.11 | ||
| Q1 24 | — | $-0.07 |
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 | $279.8M |
| Stockholders' EquityBook value | $340.3M | $405.9M |
| Total Assets | $1.4B | $823.2M |
| Debt / EquityLower = less leverage | 1.68× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | — | — |
| Q4 25 | $570.7M | $279.8M | ||
| Q3 25 | $366.1M | $281.1M | ||
| Q2 25 | $370.9M | $281.5M | ||
| Q1 25 | $375.5M | $306.9M | ||
| Q4 24 | $385.5M | $281.5M | ||
| Q3 24 | $242.4M | $282.8M | ||
| Q2 24 | $360.8M | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $340.3M | $405.9M | ||
| Q3 25 | $272.0M | $408.4M | ||
| Q2 25 | $266.4M | $398.4M | ||
| Q1 25 | $217.0M | $381.1M | ||
| Q4 24 | $211.8M | $387.2M | ||
| Q3 24 | $97.2M | $416.6M | ||
| Q2 24 | $296.4M | $408.1M | ||
| Q1 24 | $162.3M | $391.8M |
| Q4 25 | $1.4B | $823.2M | ||
| Q3 25 | $1.1B | $844.4M | ||
| Q2 25 | $1.1B | $822.1M | ||
| Q1 25 | $1.0B | $824.6M | ||
| Q4 24 | $1.0B | $794.2M | ||
| Q3 24 | $689.9M | $853.4M | ||
| Q2 24 | $710.5M | $830.0M | ||
| Q1 24 | — | $808.6M |
| Q4 25 | 1.68× | 0.69× | ||
| Q3 25 | 1.35× | 0.69× | ||
| Q2 25 | 1.39× | 0.71× | ||
| Q1 25 | 1.73× | 0.81× | ||
| Q4 24 | 1.82× | 0.73× | ||
| Q3 24 | 2.49× | 0.68× | ||
| Q2 24 | 1.22× | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $122.0M | $14.1M |
| FCF MarginFCF / Revenue | 214.9% | 14.1% |
| Capex IntensityCapex / Revenue | 7.5% | 9.2% |
| Cash ConversionOCF / Net Profit | 15.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | $207.7M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $126.3M | $23.3M | ||
| Q3 25 | $34.9M | $51.0M | ||
| Q2 25 | $37.3M | $36.0M | ||
| Q1 25 | $15.9M | $-46.9M | ||
| Q4 24 | $67.6M | $6.2M | ||
| Q3 24 | $7.5M | $37.2M | ||
| Q2 24 | $16.0M | $52.4M | ||
| Q1 24 | $17.2M | $-34.5M |
| Q4 25 | $122.0M | $14.1M | ||
| Q3 25 | $33.7M | $45.2M | ||
| Q2 25 | $36.1M | $29.1M | ||
| Q1 25 | $15.8M | $-50.3M | ||
| Q4 24 | $66.7M | $-98.0K | ||
| Q3 24 | $7.1M | $33.2M | ||
| Q2 24 | $15.7M | $47.9M | ||
| Q1 24 | $17.1M | $-39.9M |
| Q4 25 | 214.9% | 14.1% | ||
| Q3 25 | 66.3% | 27.9% | ||
| Q2 25 | 75.9% | 16.8% | ||
| Q1 25 | 36.0% | -45.2% | ||
| Q4 24 | 182.6% | -0.1% | ||
| Q3 24 | 25.1% | 22.1% | ||
| Q2 24 | 60.4% | 29.9% | ||
| Q1 24 | 90.1% | -36.0% |
| Q4 25 | 7.5% | 9.2% | ||
| Q3 25 | 2.3% | 3.6% | ||
| Q2 25 | 2.6% | 4.0% | ||
| Q1 25 | 0.2% | 3.1% | ||
| Q4 24 | 2.7% | 7.2% | ||
| Q3 24 | 1.1% | 2.7% | ||
| Q2 24 | 1.4% | 2.8% | ||
| Q1 24 | 0.5% | 4.8% |
| Q4 25 | 15.68× | — | ||
| Q3 25 | 4.31× | 6.29× | ||
| Q2 25 | 4.98× | 2.25× | ||
| Q1 25 | 2.46× | — | ||
| Q4 24 | 1.37× | — | ||
| Q3 24 | 2.80× | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | 1.60× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LB
Segment breakdown not available.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
