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NYSE · Energy

WaterBridge Infrastructure LLC (WBI)

As-reported financials and SEC filings for WaterBridge Infrastructure LLC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About WaterBridge Infrastructure LLC

WaterBridge Infrastructure LLC operates as a water infrastructure company primarily in the Delaware Basin, providing water management solutions to oil and natural gas exploration and production companies. Its services include gathering, transporting, recycling, and handling produced water under long-term contracts, supported by an extensive network of pipelines and water handling facilities. The company also manages energy waste disposal facilities and leverages land access agreements to develop large-scale water infrastructure assets.

Snapshot

Revenue
$525.6M
Revenue growth (YoY)
66.2%
Net income
$9,000
Diluted EPS
Gross margin
27.1%
Operating margin
15.0%
Net margin
0.0%
FCF margin
-22.6%
ROE
0.0%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$4.03B
Long-term debt / equity
0.77×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at WaterBridge Infrastructure

  • Revenue grew 66.2% to $526M in FY2025, faster than the 57.5% the year before.
  • Operating margin is 15.0% in FY2025, -5.2 pp against 20.2% in FY2023.
  • Most recent quarter Q2 FY2026: revenue $218M, up 128.0% from Q2 FY2025.
  • Free cash flow was negative $119M in FY2025.
  • Net income fell 99.7% to $9000 in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where WaterBridge Infrastructure’s fundamentals sit among the 125 Energy companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin27.1%
62nd percentile of 43
Operating margin15.0%
65th percentile of 104
Net margin0.0%
29th percentile of 120
FCF margin-22.6%
4th percentile of 69
Revenue growth (YoY)+66.2%
93rd percentile of 122
ROE0.0%
26th percentile of 100
Long-term debt / equity0.77×
76th percentile of 83
Short interest8.64d
89th percentile of 123

WaterBridge Infrastructure’s FCF margin of -22.6% ranks in the 4th percentile of the 69 Energy companies reporting it. WaterBridge Infrastructure’s revenue growth of +66.2% ranks in the 93rd percentile of the 122 Energy companies reporting it.

No reported insider purchases (code P) in the last 90 days; 4 insider sales totaling $584.2M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 4 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+4 quant / multi-strat
Initiated / added
2
1 new, 1 added
Reduced / exited
4
2 trimmed, 2 exited
Combined position
$36.1M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ2 2026$17.0M495.6KAdded
Millennium ManagementquantQ2 2026$10.0M292.9KReduced
Citadel AdvisorsquantQ2 2026$4.7M137.9KReduced
D. E. ShawquantQ2 2026$4.4M127.2KNew

No longer held by: Point72 Asset Management (as of Q2 2026), Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
4
$584.2M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-22
Capobianco David NDirectorSell5.9M$30.05$177.1M
2026-06-22
WBR Holdings LLC10% ownerSell5.9M$30.05$177.1M
2026-06-22
WaterBridge Resources LLC10% ownerSell5.9M$30.05$177.1M
2026-06-22
filed 2026-06-24
DEVON ENERGY CORP/DE10% ownerSell1.8M$30.05$52.7M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
5.0M
settled 2026-08-14
Change vs prior
-8.2%
vs previous settlement
Days to cover
8.64
at avg daily volume
Avg daily volume
583.1K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-145.0M-8.2%8.64
2026-07-315.5M+2.9%8.05
2026-07-155.3M-16.1%6.18
2026-06-306.4M+38.1%1.85
2026-06-154.6M+17.7%4.96
2026-05-293.9M+3.7%5.89
2026-05-153.8M+11.3%5.94
2026-04-303.4M+17.4%4.54

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023
Revenue$525.6M$316.3M$200.8M
Gross profit$142.2M$88.4M$55.3M
Operating income$78.9M$56.4M$40.5M
Net income$9,000$3.0M$14.7M
Diluted EPS

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023
Cash and equivalents$51.5M$13.3M$12.9M
Current assets$261.1M$120.3M
Total assets$3.70B$1.35B
Current liabilities$188.9M$83.5M
Long-term debt$1.43B$586.4M
Total liabilities$1.85B$687.5M
Total equity$1.85B$0

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023
Operating cash flow$159.7M$73.9M$48.5M
Capital expenditure$278.6M$159.9M$148.0M
Free cash flow$-118.9M$-86.1M$-99.5M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$217.8M128.0%$5.1M$0.10
Q1 FY2026$201.0M105.3%$3.5M$0.08
Q4 FY2025$-16.4M
Q3 FY2025$123.3M37.2%$-667,000$-0.02
Q2 FY2025$95.5M$7.1M
Q1 FY2025$97.9M$1.7M
Q4 FY2024$87.2M$529,000
Q3 FY2024$89.8M$3.3M

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorEnergy
SIC industryOil & Gas Field Services, NEC
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2025
SEC CIK2064947

Selected SEC filings

10-K2026-03-16
View on EDGAR →
10-Q2026-08-06
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
8-K2026-08-18
View on EDGAR →
8-K2026-08-13
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-06-24
View on EDGAR →

Largest Energy peers

All Energy companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.