>>21677351so it's a o&g royalty and water rights company. Trading at above 30x EV/EBITDA for 2025e. Not super cheap right now for sure. That's more than twice the EV/EBITDA multiple of Topaz Energy which is basically the highest quality natgas focused royaltyco available. TPZ pays almost 5% div yield, Landbridge pays less than 1% div yield. LB has 272,000 acres in the Permian, TPZ has 5.6mil acres across the entirety of Canada, massive difference in scale. Landbridge has had impressive EBITDA growth since 2022 sure but when you can get top tier quality, scale, duration and yield for half the price in Topaz I just don't see why I would choose Landbridge, Topaz will also see big growth in EBITDA thanks to Tourmaline increasing production quite aggressively next year. I suppose if the water rights attract you and Canadian natty push you away then maybe you might want LB but otherwise TPZ is preferable DESU
>10:00 LB could be valued at $8B / Almost 10x from herewut? The company's EV is $5.88B today, how would $8B be 10x? Also this stupid monkey nigger just casually assumes a 30% compound annual EBITDA growth as base case LMFAO, seems very sustainable kek
