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MARKETS / NYSE / WBI
NYSE · OIL & GAS FIELD SERVICES, NEC · SMALL CAP

WaterBridge Infrastructure LLC WBI

3 fiscal years on record · USD · FY2025 reported · SEC filings only
$525.6M
▲ 66.2% YoY
$9,000
▼ 99.7% YoY
$-118.9M
In brief

What this company does

WaterBridge operates an integrated produced water infrastructure network in the United States through which it provides water management solutions to oil and natural gas E&P companies under long-term contracts, including gathering, transporting, recycling and handling produced water. Its operations are predominantly in the Delaware Basin. As of December 31, 2025, it had approximately 540 employees providing full-time, direct support to its operations. 71% of its long-term contracts have an initial primary term of at least 15 years. WaterBridge was formed on April 11, 2025 as a Delaware limited liability company to serve as the issuer in an initial public offering of equity, which closed on September 18, 2025.

Written from the business description in WATERBRIDGE INFRASTRUCTURE LLC's annual report to the U.S. Securities and Exchange Commission, filed 16 March 2026. Every sentence was checked against that document before publication.

Growth
USD 525.6M
Revenue, FY2025 · full 3-year series below
Revenue $M Net income $M
FY2025 · Revenue 525.6 · Net income 0.0
200M400M202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
0 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 15.0% · Net 0.0%
10%20%202320242025
ROE

No chart to show — the reason differs by year; see each year in the table below.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -118.9
-40M-80M202320242025

Total assetsUSD 3.7B
EquityUSD 602.3M
CashUSD 51.5M
Gross debtUSD 1.4B
Net debtUSD 1.4B
Current ratio1.38×

Net debt stands at 231% of equity.

The 3-year record
3 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023
Revenue $B0.50.30.2
Operating income $B0.10.10.0
EBITDA $B0.20.10.1
Income tax $B−0.00.00.0
Net income $B0.00.00.0
Free cash flow $B−0.1−0.1−0.1
EPS, diluted $···
Dividend / sh $···
Payout %···
ROE %···

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 7 reconciliationsAUDITED

Reconciled in 3 of 19 fiscal years. 85 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityOil & Gas Field Services, NEC
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2023

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