WaterBridge Infrastructure LLC Class A Shares Representing Limited Liability Company Interests (WBI)

FairStock Score: 41/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses with durable advantages, conservative finances, and a price below intrinsic value. WaterBridge owns water pipelines and handling networks for oil and gas producers. Those local networks can be hard to replicate, which may create a narrow moat, but the business is capital intensive and tied to drilling cycles. The filed results are mixed. Revenue rose from $316.3M in FY2024 to $525.6M in FY2025, yet net income was only $9,000 in FY2025 versus $3.0M in FY2024. Recent quarters are better: in fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $201.0M and net income $3.5M; in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $217.8M, net income $5.1M, and diluted EPS $0.10. Still, trailing free cash flow is -$122.3M, and FairStock's FCF yield is -8.1%. The Altman Z-score of 0.54 signals financial risk, while debt-to-equity of 0.89 is manageable but not fortress-like. Return on capital of 2.25% is weak. At the close on 2026-10-13, the price was $30.81, market cap $1.5B, P/B 2.25, EV/EBITDA 8.89, and P/E -205.40 because EPS is -$0.15. A Piotroski F-Score of 7/9 is encouraging, but not enough to offset negative cash flow. Mr. Market is pricing a recovery. I would want consistent positive free cash flow and better returns before calling this a bargain.

In plain English: WaterBridge runs pipelines and water-handling networks for oil and gas producers. The business is growing sales, but profits are very thin and it is spending more cash than it brings in. At $30.81, the price looks full rather than cheap given weak earnings and cash flow.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer