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Side-by-side financial comparison of LandBridge Co LLC (LB) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $56.8M, roughly 1.1× LandBridge Co LLC). TSS, Inc. runs the higher net margin — 20.0% vs 14.2%, a 5.8% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs 21.8%). LandBridge Co LLC produced more free cash flow last quarter ($122.0M vs $15.8M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% CAGR vs 72.8%).
LB vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $56.8M | $60.9M |
| Net Profit | $8.1M | $12.2M |
| Gross Margin | — | 17.6% |
| Operating Margin | 60.0% | 1.5% |
| Net Margin | 14.2% | 20.0% |
| Revenue YoY | 55.6% | 21.8% |
| Net Profit YoY | -83.7% | 535.7% |
| EPS (diluted) | $0.24 | $0.44 |
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 | $60.9M | ||
| Q3 25 | $50.8M | $41.9M | ||
| Q2 25 | $47.5M | $44.0M | ||
| Q1 25 | $44.0M | $99.0M | ||
| Q4 24 | $36.5M | $50.0M | ||
| Q3 24 | $28.5M | $70.1M | ||
| Q2 24 | $26.0M | $12.2M | ||
| Q1 24 | $19.0M | $15.9M |
| Q4 25 | $8.1M | $12.2M | ||
| Q3 25 | $8.1M | $-1.5M | ||
| Q2 25 | $7.5M | $1.5M | ||
| Q1 25 | $6.5M | $3.0M | ||
| Q4 24 | $49.3M | $1.9M | ||
| Q3 24 | $2.7M | $2.6M | ||
| Q2 24 | $-57.7M | $1.4M | ||
| Q1 24 | $10.8M | $15.0K |
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 11.3% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | 60.0% | 1.5% | ||
| Q3 25 | 60.8% | -2.2% | ||
| Q2 25 | 60.0% | 5.1% | ||
| Q1 25 | 57.0% | 4.2% | ||
| Q4 24 | 49.4% | 0.0% | ||
| Q3 24 | 11.2% | 5.4% | ||
| Q2 24 | -197.4% | 14.0% | ||
| Q1 24 | 71.1% | 1.6% |
| Q4 25 | 14.2% | 20.0% | ||
| Q3 25 | 15.9% | -3.6% | ||
| Q2 25 | 15.8% | 3.4% | ||
| Q1 25 | 14.7% | 3.0% | ||
| Q4 24 | 135.2% | 3.8% | ||
| Q3 24 | 9.3% | 3.8% | ||
| Q2 24 | -222.1% | 11.5% | ||
| Q1 24 | 56.7% | 0.1% |
| Q4 25 | $0.24 | $0.44 | ||
| Q3 25 | $0.26 | $-0.06 | ||
| Q2 25 | $0.24 | $0.06 | ||
| Q1 25 | $0.20 | $0.12 | ||
| Q4 24 | — | $0.08 | ||
| Q3 24 | $-0.04 | $0.10 | ||
| Q2 24 | — | $0.06 | ||
| Q1 24 | — | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | $570.7M | — |
| Stockholders' EquityBook value | $340.3M | $76.6M |
| Total Assets | $1.4B | $184.9M |
| Debt / EquityLower = less leverage | 1.68× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.7M | $85.5M | ||
| Q3 25 | $28.3M | $70.7M | ||
| Q2 25 | $20.3M | — | ||
| Q1 25 | $14.9M | — | ||
| Q4 24 | $37.0M | $23.2M | ||
| Q3 24 | $14.4M | $46.4M | ||
| Q2 24 | $24.6M | $8.3M | ||
| Q1 24 | — | $14.4M |
| 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 | $76.6M | ||
| Q3 25 | $272.0M | $63.4M | ||
| Q2 25 | $266.4M | $9.5M | ||
| Q1 25 | $217.0M | $9.4M | ||
| Q4 24 | $211.8M | $7.1M | ||
| Q3 24 | $97.2M | $7.7M | ||
| Q2 24 | $296.4M | $5.2M | ||
| Q1 24 | $162.3M | $3.7M |
| Q4 25 | $1.4B | $184.9M | ||
| Q3 25 | $1.1B | $165.4M | ||
| Q2 25 | $1.1B | $139.5M | ||
| Q1 25 | $1.0B | $113.5M | ||
| Q4 24 | $1.0B | $96.6M | ||
| Q3 24 | $689.9M | $67.3M | ||
| Q2 24 | $710.5M | $28.9M | ||
| Q1 24 | — | $26.8M |
| 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 | $16.3M |
| Free Cash FlowOCF − Capex | $122.0M | $15.8M |
| FCF MarginFCF / Revenue | 214.9% | 25.9% |
| Capex IntensityCapex / Revenue | 7.5% | 0.9% |
| Cash ConversionOCF / Net Profit | 15.68× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $207.7M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $126.3M | $16.3M | ||
| Q3 25 | $34.9M | $-18.4M | ||
| Q2 25 | $37.3M | $16.3M | ||
| Q1 25 | $15.9M | $20.6M | ||
| Q4 24 | $67.6M | $-21.6M | ||
| Q3 24 | $7.5M | $38.6M | ||
| Q2 24 | $16.0M | $-4.3M | ||
| Q1 24 | $17.2M | $2.6M |
| Q4 25 | $122.0M | $15.8M | ||
| Q3 25 | $33.7M | $-24.9M | ||
| Q2 25 | $36.1M | $5.4M | ||
| Q1 25 | $15.8M | $5.8M | ||
| Q4 24 | $66.7M | $-28.4M | ||
| Q3 24 | $7.1M | $38.6M | ||
| Q2 24 | $15.7M | $-6.0M | ||
| Q1 24 | $17.1M | $2.6M |
| Q4 25 | 214.9% | 25.9% | ||
| Q3 25 | 66.3% | -59.3% | ||
| Q2 25 | 75.9% | 12.3% | ||
| Q1 25 | 36.0% | 5.8% | ||
| Q4 24 | 182.6% | -56.7% | ||
| Q3 24 | 25.1% | 55.1% | ||
| Q2 24 | 60.4% | -49.4% | ||
| Q1 24 | 90.1% | 16.4% |
| Q4 25 | 7.5% | 0.9% | ||
| Q3 25 | 2.3% | 15.3% | ||
| Q2 25 | 2.6% | 24.8% | ||
| Q1 25 | 0.2% | 15.0% | ||
| Q4 24 | 2.7% | 13.4% | ||
| Q3 24 | 1.1% | 0.1% | ||
| Q2 24 | 1.4% | 13.8% | ||
| Q1 24 | 0.5% | 0.2% |
| Q4 25 | 15.68× | 1.34× | ||
| Q3 25 | 4.31× | — | ||
| Q2 25 | 4.98× | 11.02× | ||
| Q1 25 | 2.46× | 6.93× | ||
| Q4 24 | 1.37× | -11.32× | ||
| Q3 24 | 2.80× | 14.60× | ||
| Q2 24 | — | -3.09× | ||
| Q1 24 | 1.60× | 176.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LB
Segment breakdown not available.
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
