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Side-by-side financial comparison of LandBridge Co LLC (LB) and Exzeo Group, Inc. (XZO). Click either name above to swap in a different company.
Exzeo Group, Inc. is the larger business by last-quarter revenue ($55.5M vs $51.0M, roughly 1.1× LandBridge Co LLC). Exzeo Group, Inc. runs the higher net margin — 36.7% vs 35.0%, a 1.7% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (16.0% vs 6.0%). LandBridge Co LLC produced more free cash flow last quarter ($40.9M vs $25.1M).
Exzeo Group, Inc. is a global technology firm specializing in cloud-native SaaS solutions for the insurance industry. Its core product portfolio includes claims processing platforms, policy administration tools, and underwriting automation systems, serving insurance carriers, third-party administrators, and independent adjusters across North America and European markets.
LB vs XZO — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $51.0M | $55.5M |
| Net Profit | $17.9M | $20.4M |
| Gross Margin | — | 59.0% |
| Operating Margin | 57.2% | 45.2% |
| Net Margin | 35.0% | 36.7% |
| Revenue YoY | 16.0% | 6.0% |
| Net Profit YoY | 15.6% | 13.7% |
| EPS (diluted) | — | $0.22 |
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 | $55.5M | ||
| Q4 25 | $56.8M | $53.3M | ||
| Q3 25 | $50.8M | $55.2M | ||
| Q2 25 | $47.5M | — | ||
| Q1 25 | $44.0M | — | ||
| Q4 24 | $36.5M | — | ||
| Q3 24 | $28.5M | — | ||
| Q2 24 | $26.0M | — |
| Q1 26 | $17.9M | $20.4M | ||
| Q4 25 | $8.1M | $22.0M | ||
| Q3 25 | $8.1M | $21.2M | ||
| Q2 25 | $7.5M | — | ||
| Q1 25 | $6.5M | — | ||
| Q4 24 | $49.3M | — | ||
| Q3 24 | $2.7M | — | ||
| Q2 24 | $-57.7M | — |
| Q1 26 | — | 59.0% | ||
| Q4 25 | — | 65.4% | ||
| Q3 25 | — | 61.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 57.2% | 45.2% | ||
| Q4 25 | 60.0% | 50.3% | ||
| Q3 25 | 60.8% | 49.4% | ||
| Q2 25 | 60.0% | — | ||
| Q1 25 | 57.0% | — | ||
| Q4 24 | 49.4% | — | ||
| Q3 24 | 11.2% | — | ||
| Q2 24 | -197.4% | — |
| Q1 26 | 35.0% | 36.7% | ||
| Q4 25 | 14.2% | 41.2% | ||
| Q3 25 | 15.9% | 38.3% | ||
| Q2 25 | 15.8% | — | ||
| Q1 25 | 14.7% | — | ||
| Q4 24 | 135.2% | — | ||
| Q3 24 | 9.3% | — | ||
| Q2 24 | -222.1% | — |
| Q1 26 | — | $0.22 | ||
| Q4 25 | $0.24 | $0.25 | ||
| Q3 25 | $0.26 | $0.25 | ||
| 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 | $231.4M |
| Total DebtLower is stronger | $433.0K | — |
| Stockholders' EquityBook value | — | $274.9M |
| Total Assets | $1.4B | $379.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.7M | $231.4M | ||
| Q4 25 | $30.7M | $305.4M | ||
| Q3 25 | $28.3M | $140.9M | ||
| 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 | — | $274.9M | ||
| Q4 25 | $340.3M | $254.2M | ||
| Q3 25 | $272.0M | $78.4M | ||
| Q2 25 | $266.4M | — | ||
| Q1 25 | $217.0M | — | ||
| Q4 24 | $211.8M | — | ||
| Q3 24 | $97.2M | — | ||
| Q2 24 | $296.4M | — |
| Q1 26 | $1.4B | $379.8M | ||
| Q4 25 | $1.4B | $347.7M | ||
| Q3 25 | $1.1B | $182.3M | ||
| 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 | $25.1M |
| FCF MarginFCF / Revenue | 80.3% | 45.3% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| 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 | $89.0M | ||
| Q2 25 | $37.3M | — | ||
| Q1 25 | $15.9M | — | ||
| Q4 24 | $67.6M | — | ||
| Q3 24 | $7.5M | — | ||
| Q2 24 | $16.0M | — |
| Q1 26 | $40.9M | $25.1M | ||
| Q4 25 | $122.0M | $97.5M | ||
| Q3 25 | $33.7M | $86.6M | ||
| Q2 25 | $36.1M | — | ||
| Q1 25 | $15.8M | — | ||
| Q4 24 | $66.7M | — | ||
| Q3 24 | $7.1M | — | ||
| Q2 24 | $15.7M | — |
| Q1 26 | 80.3% | 45.3% | ||
| Q4 25 | 214.9% | 182.8% | ||
| Q3 25 | 66.3% | 156.9% | ||
| Q2 25 | 75.9% | — | ||
| Q1 25 | 36.0% | — | ||
| Q4 24 | 182.6% | — | ||
| Q3 24 | 25.1% | — | ||
| Q2 24 | 60.4% | — |
| Q1 26 | — | 0.6% | ||
| Q4 25 | 7.5% | 5.3% | ||
| Q3 25 | 2.3% | 4.4% | ||
| 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× | 4.21× | ||
| 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% |
XZO
Segment breakdown not available.
