Free Trial

WBI (WBI) Financials

WBI logo
$30.65 +0.62 (+2.06%)
Closing price 03:59 PM Eastern
Extended Trading
$30.66 +0.01 (+0.02%)
As of 06:35 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
Annual Income Statements for WBI

Annual Income Statements for WBI

This table shows WBI's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
-108 -531 0.01
Consolidated Net Income / (Loss)
15 0.00 0.01
Net Income / (Loss) Continuing Operations
-108 -531 0.01
Total Pre-Tax Income
15 -73 -1.06
Total Operating Income
40 112 79
Total Gross Profit
-71 -466 142
Total Revenue
201 0.00 526
Operating Revenue
201 - 526
Total Cost of Revenue
272 466 383
Operating Cost of Revenue
272 466 383
Total Operating Expenses
15 68 63
Selling, General & Admin Expense
15 68 47
Other Operating Expenses / (Income)
0.02 -0.13 4.16
Other Special Charges / (Income)
0.10 -0.14 12
Total Other Income / (Expense), net
-21 2.86 -80
Interest Expense
26 0.00 80
Other Income / (Expense), net
5.07 2.86 0.43
Income Tax Expense
0.11 0.32 -1.07
Net Income / (Loss) Attributable to Noncontrolling Interest
0.00 0.00 0.00
Basic Earnings per Share
$0.00 $0.00 $0.00
Weighted Average Basic Shares Outstanding
0.00 0.00 0.00
Diluted Earnings per Share
$0.00 $0.00 $0.00
Weighted Average Diluted Shares Outstanding
0.00 0.00 0.00
Weighted Average Basic & Diluted Shares Outstanding
- - 123.46M

Quarterly Income Statements for WBI

This table shows WBI's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q3 2025
Period end date 9/30/2024 9/16/2025
Net Income / (Loss) Attributable to Common Shareholders
-25 0.00
Consolidated Net Income / (Loss)
3.31 0.00
Net Income / (Loss) Continuing Operations
-25 0.00
Total Pre-Tax Income
3.42 0.00
Total Operating Income
19 0.00
Total Gross Profit
-1.75 0.00
Total Revenue
90 0.00
Operating Revenue
90 0.00
Total Cost of Revenue
92 0.00
Operating Cost of Revenue
92 0.00
Total Operating Expenses
8.10 0.00
Other Operating Expenses / (Income)
1.09 0.00
Other Special Charges / (Income)
0.09 0.00
Total Other Income / (Expense), net
-15 0.00
Other Income / (Expense), net
0.25 0.00
Income Tax Expense
0.11 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest
0.00 0.00
Basic Earnings per Share
$0.00 $0.00
Weighted Average Basic Shares Outstanding
0.00 0.00
Diluted Earnings per Share
$0.00 $0.00
Weighted Average Diluted Shares Outstanding
0.00 0.00
Weighted Average Basic & Diluted Shares Outstanding
- 123.46M

Annual Cash Flow Statements for WBI

This table details how cash moves in and out of WBI's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
-147 30 38
Net Cash From Operating Activities
48 137 160
Net Cash From Continuing Operating Activities
50 157 160
Net Income / (Loss) Continuing Operations
15 -74 0.01
Consolidated Net Income / (Loss)
15 -74 0.01
Depreciation Expense
48 198 141
Amortization Expense
2.65 22 6.19
Non-Cash Adjustments To Reconcile Net Income
-5.28 18 29
Changes in Operating Assets and Liabilities, net
-11 -8.27 -17
Net Cash From Investing Activities
-171 -343 -219
Net Cash From Continuing Investing Activities
-171 -343 -219
Purchase of Property, Plant & Equipment
-148 -181 -279
Acquisitions
-25 -167 40
Sale of Property, Plant & Equipment
2.03 4.93 20
Net Cash From Financing Activities
129 216 97
Net Cash From Continuing Financing Activities
-25 218 97
Repayment of Debt
-30 -449 -1,877
Repurchase of Preferred Equity
-150 - 0.00
Repurchase of Common Equity
0.00 0.00 -8.26
Payment of Dividends
-0.77 -8.87 0.00
Issuance of Debt
150 676 1,505
Issuance of Common Equity
9.82 0.00 705
Other Financing Activities, net
-4.16 -0.90 -228

Quarterly Cash Flow Statements for WBI

This table details how cash moves in and out of WBI's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q4 2025
Period end date 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
60 -295
Net Cash From Operating Activities
72 88
Net Cash From Continuing Operating Activities
92 88
Net Income / (Loss) Continuing Operations
-76 -14
Consolidated Net Income / (Loss)
-76 -14
Depreciation Expense
141 69
Amortization Expense
16 1.44
Non-Cash Adjustments To Reconcile Net Income
11 15
Changes in Operating Assets and Liabilities, net
-0.04 17
Net Cash From Investing Activities
-52 -89
Net Cash From Continuing Investing Activities
-52 -89
Purchase of Property, Plant & Equipment
-53 -89
Sale of Property, Plant & Equipment
2.43 0.12
Net Cash From Financing Activities
-12 -294
Net Cash From Continuing Financing Activities
21 -294
Repayment of Debt
-46 -1,738
Repurchase of Common Equity
- -5.94
Issuance of Debt
71 1,450
Other Financing Activities, net
- -0.00

Annual Balance Sheets for WBI

This table presents WBI's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2025
Period end date 12/31/2024 12/31/2025
Total Assets
2,940 3,700
Total Current Assets
246 261
Cash & Equivalents
61 52
Accounts Receivable
171 195
Prepaid Expenses
14 15
Plant, Property, & Equipment, net
2,328 2,286
Total Noncurrent Assets
366 1,153
Goodwill
178 53
Intangible Assets
144 936
Noncurrent Deferred & Refundable Income Taxes
0.00 132
Other Noncurrent Operating Assets
44 33
Total Liabilities & Shareholders' Equity
2,940 3,700
Total Liabilities
1,881 1,852
Total Current Liabilities
159 189
Short-Term Debt
34 13
Accounts Payable
33 45
Accrued Expenses
76 130
Other Current Liabilities
2.03 1.69
Total Noncurrent Liabilities
1,722 1,663
Long-Term Debt
1,688 1,432
Noncurrent Deferred & Payable Income Tax Liabilities
- 201
Other Noncurrent Operating Liabilities
34 30
Commitments & Contingencies
0.00 0.00
Redeemable Noncontrolling Interest
388 0.00
Total Equity & Noncontrolling Interests
0.00 1,848
Total Preferred & Common Equity
0.00 602
Total Common Equity
0.00 602
Common Stock
0.00 607
Retained Earnings
0.00 -4.54
Other Equity Adjustments
- 0.00
Noncontrolling Interest
0.00 1,245

Quarterly Balance Sheets for WBI

This table presents WBI's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2025
Period end date 9/30/2025
Total Assets
3,939
Total Current Assets
555
Cash & Equivalents
347
Accounts Receivable
191
Prepaid Expenses
17
Plant, Property, & Equipment, net
2,201
Total Noncurrent Assets
1,183
Goodwill
52
Intangible Assets
968
Noncurrent Deferred & Refundable Income Taxes
134
Other Noncurrent Operating Assets
29
Total Liabilities & Shareholders' Equity
3,939
Total Liabilities
2,079
Total Current Liabilities
165
Short-Term Debt
33
Accounts Payable
48
Accrued Expenses
82
Other Current Liabilities
1.78
Total Noncurrent Liabilities
1,914
Long-Term Debt
1,682
Noncurrent Deferred & Payable Income Tax Liabilities
202
Other Noncurrent Operating Liabilities
30
Commitments & Contingencies
0.00
Redeemable Noncontrolling Interest
0.00
Total Equity & Noncontrolling Interests
1,860
Total Preferred & Common Equity
608
Total Common Equity
608
Common Stock
608
Retained Earnings
-0.67
Other Equity Adjustments
0.00
Noncontrolling Interest
1,252

Annual Metrics And Ratios for WBI

This table displays calculated financial ratios and metrics derived from WBI's official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding
0.00 0.00 123,455,000.00
DEI Adjusted Shares Outstanding
0.00 0.00 123,455,000.00
DEI Earnings Per Adjusted Shares Outstanding
0.00 0.00 0.00
Growth Metrics
- - -
Profitability Metrics
- - -
Net Operating Profit after Tax (NOPAT)
40 78 55
Return On Investment Capital (ROIC_SIMPLE)
- 4.54% 1.68%
Earnings before Interest and Taxes (EBIT)
46 115 79
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
97 335 226
Valuation Ratios
- - -
Leverage & Solvency
- - -
Liquidity Ratios
- - -
Cash Flow Metrics
- - -
Free Cash Flow to Firm (FCFF)
0.00 -2,655 -452
Efficiency Ratios
- - -
Capital & Investment Metrics
- - -
Invested Capital
0.00 2,733 3,240
Increase / (Decrease) in Invested Capital
0.00 2,733 507
Book Value per Share
$0.00 $0.00 $4.88
Tangible Book Value per Share
$0.00 ($10.17) ($3.13)
Total Capital
0.00 2,109 3,292
Total Debt
0.00 1,722 1,444
Total Long-Term Debt
0.00 1,688 1,432
Net Debt
0.00 1,660 1,393
Capital Expenditures (CapEx)
146 176 259
Debt-free, Cash-free Net Working Capital (DFCFNWC)
0.00 60 33
Debt-free Net Working Capital (DFNWC)
0.00 121 85
Net Working Capital (NWC)
0.00 87 72
Net Nonoperating Expense (NNE)
26 78 55
Net Nonoperating Obligations (NNO)
0.00 2,346 1,393
Total Depreciation and Amortization (D&A)
51 221 147
Earnings Adjustments
- - -
Adjusted Basic Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding
0.00 0.00 0.00
Adjusted Diluted Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
0.00 0.00 0.00
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 123.46M
Normalized Net Operating Profit after Tax (NOPAT)
40 78 64
Debt Service Ratios
- - -
Payout Ratios
- - -

Quarterly Metrics And Ratios for WBI

This table displays calculated financial ratios and metrics derived from WBI's official financial filings.

Metric Q3 2024 Q3 2025
Period end date 9/30/2024 9/16/2025
DEI Shares Outstanding
0.00 0.00
DEI Adjusted Shares Outstanding
0.00 0.00
DEI Earnings Per Adjusted Shares Outstanding
0.00 0.00
Growth Metrics
- -
Revenue Growth
0.00% 37.24%
EBITDA Growth
0.00% 24.30%
EBIT Growth
0.00% 24.30%
NOPAT Growth
0.00% 40.96%
Net Income Growth
0.00% 23.72%
EPS Growth
0.00% 0.00%
Operating Cash Flow Growth
0.00% 0.00%
Free Cash Flow Firm Growth
0.00% 0.00%
Invested Capital Growth
0.00% 0.00%
Revenue Q/Q Growth
0.00% 0.00%
EBITDA Q/Q Growth
0.00% 0.00%
EBIT Q/Q Growth
0.00% 0.00%
NOPAT Q/Q Growth
0.00% 0.00%
Net Income Q/Q Growth
0.00% 0.00%
EPS Q/Q Growth
0.00% 0.00%
Operating Cash Flow Q/Q Growth
0.00% 0.00%
Free Cash Flow Firm Q/Q Growth
0.00% 0.00%
Invested Capital Q/Q Growth
0.00% 0.00%
Profitability Metrics
- -
Gross Margin
-1.95% 28.39%
EBITDA Margin
21.25% 19.25%
Operating Margin
20.98% 19.22%
EBIT Margin
21.25% 19.25%
Profit (Net Income) Margin
3.68% 3.32%
Tax Burden Percent
96.67% 93.14%
Interest Burden Percent
17.91% 18.50%
Effective Tax Rate
3.33% -8.34%
Return on Invested Capital (ROIC)
0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)
0.00% 0.00%
Return on Equity (ROE)
0.00% 0.00%
Cash Return on Invested Capital (CROIC)
0.00% 0.00%
Operating Return on Assets (OROA)
0.00% 0.00%
Return on Assets (ROA)
0.00% 0.00%
Return on Common Equity (ROCE)
0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)
0.00% 0.00%
Net Operating Profit after Tax (NOPAT)
18 0.00
NOPAT Margin
20.28% 20.83%
Net Nonoperating Expense Percent (NNEP)
0.00% 3.15%
Return On Investment Capital (ROIC_SIMPLE)
- 0.00%
Cost of Revenue to Revenue
101.95% 71.61%
SG&A Expenses to Revenue
7.70% 7.31%
R&D to Revenue
0.00% 0.00%
Operating Expenses to Revenue
9.02% 9.17%
Earnings before Interest and Taxes (EBIT)
19 0.00
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
19 0.00
Valuation Ratios
- -
Price to Book Value (P/BV)
0.00 1.80
Price to Tangible Book Value (P/TBV)
0.00 0.00
Price to Revenue (P/Rev)
0.00 0.00
Price to Earnings (P/E)
0.00 0.00
Dividend Yield
0.00% 0.00%
Earnings Yield
0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
0.00 1.15
Enterprise Value to Revenue (EV/Rev)
0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00
Leverage & Solvency
- -
Debt to Equity
0.00 0.92
Long-Term Debt to Equity
0.00 0.90
Financial Leverage
0.00 0.74
Leverage Ratio
0.00 2.12
Compound Leverage Factor
0.00 0.39
Debt to Total Capital
0.00% 47.98%
Short-Term Debt to Total Capital
0.00% 0.93%
Long-Term Debt to Total Capital
0.00% 47.05%
Preferred Equity to Total Capital
0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 35.03%
Common Equity to Total Capital
0.00% 17.00%
Debt to EBITDA
0.00 0.00
Net Debt to EBITDA
0.00 0.00
Long-Term Debt to EBITDA
0.00 0.00
Debt to NOPAT
0.00 0.00
Net Debt to NOPAT
0.00 0.00
Long-Term Debt to NOPAT
0.00 0.00
Altman Z-Score
0.00 0.00
Noncontrolling Interest Sharing Ratio
0.00% 0.00%
Liquidity Ratios
- -
Current Ratio
0.00 3.36
Quick Ratio
0.00 3.26
Cash Flow Metrics
- -
Free Cash Flow to Firm (FCFF)
0.00 -3,229
Operating Cash Flow to CapEx
0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
0.00 -165.67
Operating Cash Flow to Interest Expense
0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00
Efficiency Ratios
- -
Asset Turnover
0.00 0.00
Accounts Receivable Turnover
0.00 0.00
Inventory Turnover
0.00 0.00
Fixed Asset Turnover
0.00 0.00
Accounts Payable Turnover
0.00 0.00
Days Sales Outstanding (DSO)
0.00 0.00
Days Inventory Outstanding (DIO)
0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00
Cash Conversion Cycle (CCC)
0.00 0.00
Capital & Investment Metrics
- -
Invested Capital
0.00 3,229
Invested Capital Turnover
0.00 0.00
Increase / (Decrease) in Invested Capital
0.00 3,229
Enterprise Value (EV)
0.00 3,712
Market Capitalization
634 1,091
Book Value per Share
$0.00 $4.92
Tangible Book Value per Share
$0.00 ($3.34)
Total Capital
0.00 3,576
Total Debt
0.00 1,716
Total Long-Term Debt
0.00 1,682
Net Debt
0.00 1,369
Capital Expenditures (CapEx)
0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)
0.00 77
Debt-free Net Working Capital (DFNWC)
0.00 423
Net Working Capital (NWC)
0.00 390
Net Nonoperating Expense (NNE)
15 0.00
Net Nonoperating Obligations (NNO)
0.00 1,369
Total Depreciation and Amortization (D&A)
0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue
0.00% 0.00%
Debt-free Net Working Capital to Revenue
0.00% 0.00%
Net Working Capital to Revenue
0.00% 0.00%
Earnings Adjustments
- -
Adjusted Basic Earnings per Share
$0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding
0.00 0.00
Adjusted Diluted Earnings per Share
$0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
0.00 0.00
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 123.46M
Normalized Net Operating Profit after Tax (NOPAT)
18 0.00
Normalized NOPAT Margin
20.38% 13.54%
Pre Tax Income Margin
3.81% 3.56%
Debt Service Ratios
- -
EBIT to Interest Expense
1.22 1.23
NOPAT to Interest Expense
1.16 1.33
EBIT Less CapEx to Interest Expense
0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00
Payout Ratios
- -
Dividend Payout Ratio
0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, investor-focused synthesis of WaterBridge Infrastructure LLC (WBI) financials from the last four quarters available (2024 Q4 and 2025 Q3–Q4). The bullets are organized from most positive to most negative potential impacts on the stock.

  • Operating cash flow remained positive in the latest quarter, with Net Cash From Continuing Operating Activities of $88.18 million in Q4 2025, close to the $92.31 million in Q4 2024.
  • Liquidity was bolstered by a large debt issuance in Q4 2025: Issuance of Debt of $1.45 billion, which improved near-term liquidity despite subsequent financing outflows.
  • The balance sheet shows solid liquidity indicators, including Cash & Equivalents of about $346.65 million (Q3 2025) and Total Current Assets around $555.09 million.
  • Revenue data for the latest quarter shows zero operating revenue in Q3 2025 and zero total revenue in that same period, which may reflect missing data or an unusual quarter rather than immediate profitability concerns.
  • Asset base appears sizable, with Plant, Property & Equipment net around $2.20 billion and Total Assets near $3.94 billion as of Q3 2025, suggesting substantial capital intensity.
  • Net change in cash for Q4 2025 was -$295.11 million, indicating a significant quarterly cash outflow despite positive operating cash flow.
  • Net cash from financing activities in Q4 2025 was -$294.19 million, driven by large debt repayments outweighing new borrowing, signaling tightening liquidity over the quarter.
  • Consolidated net income for Q4 2025 was -$13.58 million, with continuing operations also negative, pointing to quarterly profitability pressure.
  • Debt repayments in Q4 2025 were substantial at -$1.74 billion, highlighting heavy debt service requirements and potential refinancing risk.
  • Net cash from continuing investing activities was -$89.09 million in Q4 2025, reflecting ongoing capital expenditures (PPE purchases of about $89.21 million) that reduced near-term liquidity.
05/05/26 09:41 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About WBI's Financials

When does WBI's fiscal year end?

According to the most recent income statement we have on file, WBI's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has WBI's net income changed over the last 2 years?

WBI's net income appears to be on a downward trend, with a most recent value of $9 thousand in 2025, falling from $14.67 million in 2023. The previous period was $0.00 in 2024. See WBI's forecast for analyst expectations on what’s next for the company.

What is WBI's operating income?
WBI's total operating income in 2025 was $78.86 million, based on the following breakdown:
  • Total Gross Profit: $142.24 million
  • Total Operating Expenses: $63.38 million
How has WBI's revenue changed over the last 2 years?

Over the last 2 years, WBI's total revenue changed from $200.77 million in 2023 to $525.55 million in 2025, a change of 161.8%.

How much debt does WBI have?

WBI's total liabilities were at $1.85 billion at the end of 2025, a 1.5% decrease from 2024, and a 1.5% decrease since 2024.

How much cash does WBI have?

In the past 1 years, WBI's cash and equivalents has ranged from $51.54 million in 2025 to $61.17 million in 2024, and is currently $51.54 million as of their latest financial filing in 2025.

How has WBI's book value per share changed over the last 2 years?

Over the last 2 years, WBI's book value per share changed from 0.00 in 2023 to 4.88 in 2025, a change of 487.9%.



Financial statements for NYSE:WBI last updated on 4/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners