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Side-by-side financial comparison of LandBridge Co LLC (LB) and Vanda Pharmaceuticals Inc. (VNDA). Click either name above to swap in a different company.
Vanda Pharmaceuticals Inc. is the larger business by last-quarter revenue ($57.2M vs $56.8M, roughly 1.0× LandBridge Co LLC). LandBridge Co LLC runs the higher net margin — 14.2% vs -246.8%, a 260.9% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs 7.6%). LandBridge Co LLC produced more free cash flow last quarter ($122.0M vs $-29.5M). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (72.8% CAGR vs 9.8%).
Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapies for central nervous system disorders. Its key marketed products cover indications including sleep-wake cycle disturbances and schizophrenia, with core operations and primary sales markets concentrated in North America, catering to patient groups with significant unmet medical needs.
LB vs VNDA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $56.8M | $57.2M |
| Net Profit | $8.1M | $-141.2M |
| Gross Margin | — | — |
| Operating Margin | 60.0% | -70.5% |
| Net Margin | 14.2% | -246.8% |
| Revenue YoY | 55.6% | 7.6% |
| Net Profit YoY | -83.7% | -2774.3% |
| EPS (diluted) | $0.24 | $-2.40 |
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 | $57.2M | ||
| Q3 25 | $50.8M | $56.3M | ||
| Q2 25 | $47.5M | $52.6M | ||
| Q1 25 | $44.0M | $50.0M | ||
| Q4 24 | $36.5M | $53.2M | ||
| Q3 24 | $28.5M | $47.7M | ||
| Q2 24 | $26.0M | $50.5M | ||
| Q1 24 | $19.0M | $47.5M |
| Q4 25 | $8.1M | $-141.2M | ||
| Q3 25 | $8.1M | $-22.6M | ||
| Q2 25 | $7.5M | $-27.2M | ||
| Q1 25 | $6.5M | $-29.5M | ||
| Q4 24 | $49.3M | $-4.9M | ||
| Q3 24 | $2.7M | $-5.3M | ||
| Q2 24 | $-57.7M | $-4.5M | ||
| Q1 24 | $10.8M | $-4.1M |
| Q4 25 | 60.0% | -70.5% | ||
| Q3 25 | 60.8% | -55.6% | ||
| Q2 25 | 60.0% | -73.2% | ||
| Q1 25 | 57.0% | -82.0% | ||
| Q4 24 | 49.4% | -19.3% | ||
| Q3 24 | 11.2% | -23.1% | ||
| Q2 24 | -197.4% | -20.1% | ||
| Q1 24 | 71.1% | -19.5% |
| Q4 25 | 14.2% | -246.8% | ||
| Q3 25 | 15.9% | -40.1% | ||
| Q2 25 | 15.8% | -51.7% | ||
| Q1 25 | 14.7% | -58.9% | ||
| Q4 24 | 135.2% | -9.2% | ||
| Q3 24 | 9.3% | -11.2% | ||
| Q2 24 | -222.1% | -9.0% | ||
| Q1 24 | 56.7% | -8.7% |
| Q4 25 | $0.24 | $-2.40 | ||
| Q3 25 | $0.26 | $-0.38 | ||
| Q2 25 | $0.24 | $-0.46 | ||
| Q1 25 | $0.20 | $-0.50 | ||
| Q4 24 | — | $-0.09 | ||
| Q3 24 | $-0.04 | $-0.09 | ||
| Q2 24 | — | $-0.08 | ||
| 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 | $84.9M |
| Total DebtLower is stronger | $570.7M | — |
| Stockholders' EquityBook value | $340.3M | $327.2M |
| Total Assets | $1.4B | $488.9M |
| Debt / EquityLower = less leverage | 1.68× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.7M | $84.9M | ||
| Q3 25 | $28.3M | $70.0M | ||
| Q2 25 | $20.3M | $81.0M | ||
| Q1 25 | $14.9M | $111.8M | ||
| Q4 24 | $37.0M | $102.3M | ||
| Q3 24 | $14.4M | $100.5M | ||
| Q2 24 | $24.6M | $103.0M | ||
| Q1 24 | — | $125.2M |
| 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 | $327.2M | ||
| Q3 25 | $272.0M | $466.0M | ||
| Q2 25 | $266.4M | $486.3M | ||
| Q1 25 | $217.0M | $511.4M | ||
| Q4 24 | $211.8M | $538.5M | ||
| Q3 24 | $97.2M | $541.2M | ||
| Q2 24 | $296.4M | $542.5M | ||
| Q1 24 | $162.3M | $544.0M |
| Q4 25 | $1.4B | $488.9M | ||
| Q3 25 | $1.1B | $601.1M | ||
| Q2 25 | $1.1B | $624.7M | ||
| Q1 25 | $1.0B | $631.9M | ||
| Q4 24 | $1.0B | $656.2M | ||
| Q3 24 | $689.9M | $645.1M | ||
| Q2 24 | $710.5M | $651.4M | ||
| Q1 24 | — | $652.7M |
| 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 | $-29.4M |
| Free Cash FlowOCF − Capex | $122.0M | $-29.5M |
| FCF MarginFCF / Revenue | 214.9% | -51.6% |
| Capex IntensityCapex / Revenue | 7.5% | 0.2% |
| Cash ConversionOCF / Net Profit | 15.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | $207.7M | $-110.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $126.3M | $-29.4M | ||
| Q3 25 | $34.9M | $-31.6M | ||
| Q2 25 | $37.3M | $-15.3M | ||
| Q1 25 | $15.9M | $-33.1M | ||
| Q4 24 | $67.6M | $-1.8M | ||
| Q3 24 | $7.5M | $-14.6M | ||
| Q2 24 | $16.0M | $-6.9M | ||
| Q1 24 | $17.2M | $7.6M |
| Q4 25 | $122.0M | $-29.5M | ||
| Q3 25 | $33.7M | $-31.8M | ||
| Q2 25 | $36.1M | $-15.6M | ||
| Q1 25 | $15.8M | $-33.6M | ||
| Q4 24 | $66.7M | $-2.0M | ||
| Q3 24 | $7.1M | $-14.7M | ||
| Q2 24 | $15.7M | $-7.0M | ||
| Q1 24 | $17.1M | $7.6M |
| Q4 25 | 214.9% | -51.6% | ||
| Q3 25 | 66.3% | -56.5% | ||
| Q2 25 | 75.9% | -29.6% | ||
| Q1 25 | 36.0% | -67.1% | ||
| Q4 24 | 182.6% | -3.8% | ||
| Q3 24 | 25.1% | -30.9% | ||
| Q2 24 | 60.4% | -13.9% | ||
| Q1 24 | 90.1% | 15.9% |
| Q4 25 | 7.5% | 0.2% | ||
| Q3 25 | 2.3% | 0.3% | ||
| Q2 25 | 2.6% | 0.6% | ||
| Q1 25 | 0.2% | 0.9% | ||
| Q4 24 | 2.7% | 0.4% | ||
| Q3 24 | 1.1% | 0.3% | ||
| Q2 24 | 1.4% | 0.2% | ||
| Q1 24 | 0.5% | 0.0% |
| 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 | — | — | ||
| 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.
VNDA
| Fanapt | $33.2M | 58% |
| Hetlioz | $16.4M | 29% |
| PONVORY | $7.6M | 13% |
