Company	Price	Valuation					Profitability					Cash & leverage					Quality				Rating
		P/E	P/B	P/S	EV / EBITDA	DCF upside	Gross margin	Operating margin	Net margin	ROE	ROIC	FCF yield	Debt / equity	Net debt / EBITDA	Interest coverage	Current ratio	Dividend yield	Piotroski (0-9)	Altman Z	Rating score (1-5)
LBthis companyLandBridge Company LLC	$68.28	41.52×	4.01×	6.85×	15.07×	197.8%	91.0%	59.5%	15.1%	8.9%	7.8%	8.9%	1.65×	4.21×	3.62×	4.87×	4.7%	7	7.66	2	C
CKXCKX Lands, Inc.	$16.40	6.22×	0.87×	22.32×	0.18×	-18.2%	91.9%	9.9%	359.0%	14.0%	0.3%	2.5%	0×	-4.53×	0×	24.73×	0.0%	4	53.7	4	A-
EROKEagleRock Land LLC	$21.13	2,184×	-13.07×	3.85×	46.36×	3405.9%	49.1%	2.9%	0.3%	-0.9%	0.3%	1.6%	-7.21×	15.93×	10.64×	4.61×	0.0%	—	—	3	B
KRPKimbell Royalty Partners, LP	$15.07	18.97×	1.55×	3.2×	11.08×	158.2%	93.9%	39.8%	27.2%	13.2%	10.9%	23.0%	0.65×	3.06×	3.85×	8.64×	17.5%	6	2.71	3	B+
TPLTexas Pacific Land Corporation	$281.52	41.15×	13.57×	24.81×	29.23×	-6.0%	85.5%	74.2%	60.3%	33.0%	30.1%	2.5%	0.02×	-0.17×	858.2×	4.4×	0.7%	6	76.67	4	A-
WBIWaterBridge Infrastructure LLC	$26.25	-200.1×	1.44×	1.65×	3.58×	-796.5%	27.1%	15.0%	0.0%	0.0%	-0.0%	-13.7%	0.02×	-0.17×	1.14×	1.38×	0.0%	8	0.72	1	C-
Peer median	—	18.97×	1.44×	3.85×	11.08×	-6.0%	85.5%	15.0%	27.2%	13.2%	0.3%	2.5%	0.02×	-0.17×	3.85×	4.61×	0.0%	6	28.2	3	—