# WaterBridge Infrastructure LLC (WBI) · Edgar & Edgarette company card

> WaterBridge Infrastructure (WBI) grew revenue 66.2% in FY2025 to $526 million, operating margin 15.0% against a 5.0% median for oil & gas field services, equity 16.3% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 2064947 · fiscal year ended 2025-12-31 · 3 audited years read · [page](https://www.pops4.com/boards/company/WBI) · [JSON](https://www.pops4.com/boards/company/WBI.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $526M |
| Revenue growth, 1 year | 66.2% |
| Revenue growth per year | 61.7% |
| Operating margin | 15.0% (prior year 17.8%) |
| Net margin | 0.0% |
| Operating cash flow | $160M |
| Capital spending | $279M |
| Free cash flow | −$119M |
| Cash | $52M |
| Long-term debt | $1.5B |
| Total assets | $3.7B |
| Total equity | $602M |
| Equity ÷ assets | 16.3% |
| Return on equity | 0.0% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 0.61 (distress zone)
- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: Sound ship · one warning sign · free cash flow was negative: capital spending outran operating cash (-$118.9M in FY2025)
- Cash Compass: Cash cow later · growing fast, and already turning revenue into cash

## Edgarette's reading

Exposure: revenue $525.6M (FY2025), total debt $1.5B. Experience: revenue up 66.2% on the year, up 61.7% a year over 2 years; operating margin 15.0%, down from 17.8%. Soundness: equity 16.3% of assets, return on equity 0.0%. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $679.7M and $1.1B next year (method v3, set from 4,309 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (15 filers, $50M+ revenue, oil & gas field services, nec): operating margin 15.0% against a 5.0% median; growth 66.2% against -2.3%.

Range logged 2026-09-22, receipt be9c6e5ff6707954, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 3, latest 2026-09-21 ([filing](https://www.sec.gov/Archives/edgar/data/2064947/000119312526396772/0001193125-26-396772-index.htm))

## Recent filings

- 10-Q · filed 2026-11-05 · [filing](https://www.sec.gov/Archives/edgar/data/2064947/000119312526447757/0001193125-26-447757-index.htm)
- 8-K · filed 2026-11-04 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2064947/000119312526447287/0001193125-26-447287-index.htm)
- 8-K · filed 2026-09-21 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/2064947/000119312526396772/0001193125-26-396772-index.htm)
- 8-K · filed 2026-08-18 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2064947/000119312526355657/0001193125-26-355657-index.htm)
- 8-K · filed 2026-08-13 · 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2064947/000119312526348048/0001193125-26-348048-index.htm)
- 10-Q · filed 2026-08-06 · [filing](https://www.sec.gov/Archives/edgar/data/2064947/000119312526335651/0001193125-26-335651-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0002064947.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2064947

## Cite

POPS4, Edgar & Edgarette: WaterBridge Infrastructure LLC (WBI) company card, from the company's own SEC filings, accessed 2026-11-06, https://www.pops4.com/boards/company/WBI. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.