WaterBridge Infrastructure LLC (WBI) intrinsic value & 10-year financials

WaterBridge Infrastructure LLC (WBI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 4 fiscal years revenue grew 61.8% a year to $525.6M, with an average return on invested capital of 5.9%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$28.49
Revenue (FY2025)
$525.6M
Revenue growth (4-yr CAGR)
61.8%
ROIC (10-yr avg)
5.9%
Free cash flow (FY2025)
-$118.9M

WBI 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $525.6M $9.0K — -$118.9M 15.0% 3.1%
FY2024 $316.3M $3.0M — -$86.1M 17.8% 8.7%
FY2023 $200.8M $14.7M — -$99.5M 20.2% —
FY2022 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

WaterBridge Infrastructure LLC revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

WaterBridge Infrastructure LLC has historically struggled to out-earn its cost of capital, averaging just 5.9% ROIC.

WaterBridge Infrastructure LLC capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, WaterBridge Infrastructure LLC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment.

WBI stock: frequently asked questions

Does WaterBridge Infrastructure LLC generate free cash flow?

WaterBridge Infrastructure LLC generated -$118.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 3 reported years.

What is WBI's return on invested capital?

Average ROIC over the last 4 fiscal years was 5.9%, and average return on equity was 0.0%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this WBI data come from?

From WaterBridge Infrastructure LLC's annual 10-K filings on SEC EDGAR. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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