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WaterBridge Infrastructure LLC (WBI) stock analysis

WBINYSEOil & Gas Field Services, NECFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 3/30260% above fair value
$27.28−0.70 (-2.50%)

Close on Nov 12, 2026Market cap $3.37BP/E –Yield –

StockData Score

Prices as of Nov 12, 2026How the score works

Value0Growth1Performance0Health1Dividend1

Weak3 of 30 checks passed

WaterBridge Infrastructure passes 3 of the 30 checks behind our score; 16 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
0/6
Growth
1/6
Past performance
0/6
Financial health
1/6
Dividend
1/6

What stands out

  • Growing faster than the industry

    Revenue grew 115% over the last twelve months; the Oil and Gas Field Services median is 4.6%.

  • Short-term assets cover short-term debts

    Current assets are 1.17 times current liabilities.

  • Pays a dividend

    WaterBridge Infrastructure paid dividends worth 0.5% of the share price over the last twelve months.

What to watch

  • Margin of safety under 20%

    The price is 260% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $27.28 is above our fair value estimate of $7.59.

  • Return on capital under 10%

    Return on invested capital was 5.1%, below the 10% that usually covers the cost of capital.

  • High debt

    Debt is 237% of shareholders' equity, above the 40% we consider low.

Valuation0/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B above the industry

    WaterBridge Infrastructure's price-to-book of 4.39 is above the Oil and Gas Field Services median of 1.33.

  • Trading above fair value

    The share price of $27.28 is above our fair value estimate of $7.59.

  • Margin of safety under 20%

    The price is 260% above fair value, so there is no margin of safety.

Growth1/6

  • Revenue growth over 3 years

    Needs three years of positive revenue.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 115% over the last twelve months; the Oil and Gas Field Services median is 4.6%.

  • Guidance lowered

    WaterBridge Infrastructure lowered its full-year 2026 Produced water handling volumes outlook on Aug 5, 2026.

  • Gross margin slipping

    Gross margin was 24.9% over the last twelve months, against 29.4% a year earlier.

Past performance0/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on capital under 10%

    Return on invested capital was 5.1%, below the 10% that usually covers the cost of capital.

  • Return on equity against the industry

    Needs positive equity.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin against its history

    Needs five years of revenue and net income.

  • Net margin against the industry

    Needs revenue and net income.

Financial health1/6

  • High debt

    Debt is 237% of shareholders' equity, above the 40% we consider low.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt not well covered by cash flow

    Operating cash flow over the last twelve months equals 19.5% of total debt; we look for at least 20%.

  • Interest coverage

    Interest expense is not reported separately.

  • Short-term assets cover short-term debts

    Current assets are 1.17 times current liabilities.

  • Elevated bankruptcy risk

    The Altman Z-score is 1.17; above 3 is the safe zone and below 1.8 the distress zone.

Dividend1/6

  • Pays a dividend

    WaterBridge Infrastructure paid dividends worth 0.5% of the share price over the last twelve months.

  • Yield below Treasuries

    The 0.5% yield is below the 4.6% on a 1-year Treasury.

  • Yield below the top quarter

    The top quarter of US dividend payers yield 3.9% or more; WaterBridge Infrastructure yields 0.5%.

  • Dividend stability

    Fewer than five years of dividend history.

  • Earnings cover

    Needs dividends paid and net income.

  • Cash-flow cover

    Needs dividends paid and free cash flow.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$7.59

The share price is 260% above this estimate.

20%+ below
Near fair value
20%+ above
$27.28Price$7.59Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
EV/EBITDA7.5×–7.5×$7.4078%
P/B1.3×–1.3×$8.2322%
Earnings powerleft out, too far from the others7.5% cost of equity––$0.52–
Fair value$7.59100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Medium risk

Average value traded per day
$16.33M
Value traded per 1% price move
$7.25M

Downside

Medium risk

Typical loss in a bad month
15.9%
Volatility (annualized)
48%
Sharpe ratio, 1 year
0.01
Beta to the S&P 500 (5Y)
0.37

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2022 to 2025

Gross margin

27.1%

Operating margin

15.0%

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