Landbridge vs TMD Energy
TMD Energy is the larger business, with $545m of revenue in fiscal 2026 against $199m for Landbridge (2.7 times as much). Landbridge grew faster (81.1% against -20.8%). Landbridge kept more of each dollar of sales as profit: a net margin of 15.1% against -3.4%.
| Latest fiscal year | LandbridgeLB, 2025 | TMD EnergyTMDE, 2026 |
|---|---|---|
| Revenue | $199m | $545m |
| Revenue growth | 81.1% | -20.8% |
| Net income | $30.1m | −$18.6m |
| Operating margin | — | — |
| Net margin | 15.1% | -3.4% |
| Return on equity | 10.9% | -182.0% |
| Free cash flow | $122m | $7.5m |
| Cash | $30.7m | $4.0m |
| Total debt | $571m | $86.8m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | 1.0% | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $6.11bn | $12.5m |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 3 buys, 8 sales | 0 buys, 0 sales |