LB vs. VNOM

Last updated Jun 4, 2026

LB (LandBridge Company LLC) and VNOM (Viper Energy Partners LP) are both stocks. Both are in the Energy sector — LB in Oil & Gas Equipment & Services, VNOM in Oil & Gas Midstream. Over the past year, LB returned 5.17% vs 19.57% for VNOM. At a 0.40 correlation, their price movements are largely independent.

Performance

LB vs. VNOM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LandBridge Company LLC (LB) and Viper Energy Partners LP (VNOM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LB achieves a 55.22% return, which is significantly higher than VNOM's 24.54% return.

LB

• 1D: 3.73%
• 1M: 16.67%
• YTD: 55.22%
• 6M: 25.90%
• 1Y: 5.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VNOM

• 1D: 1.87%
• 1M: -6.68%
• YTD: 24.54%
• 6M: 20.91%
• 1Y: 19.57%
• 3Y*: 28.08%
• 5Y*: 28.04%
• 10Y*: 16.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

LB vs. VNOM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LB LandBridge Company LLC	55.22%	-23.67%	179.45%
VNOM Viper Energy Partners LP	24.54%	-16.58%	34.12%

Correlation

The correlation between LB and VNOM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	0.40

Fundamentals

EPS LB : $0.81 VNOM : -$0.29
PS Ratio LB : 18.77 VNOM : 4.58
Total Revenue (TTM) LB : $206.15M VNOM : $1.60B
Gross Profit (TTM) LB : $142.47M VNOM : $740.00M
EBITDA (TTM) LB : $141.85M VNOM : $1.04B

Return for Risk

LB vs. VNOM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LB

LB Risk / Return Rank: 43
LB Sharpe Ratio Rank: 44
LB Sortino Ratio Rank: 43
LB Omega Ratio Rank: 42
LB Calmar Ratio Rank: 43
LB Martin Ratio Rank: 42

VNOM

VNOM Risk / Return Rank: 60
VNOM Sharpe Ratio Rank: 62
VNOM Sortino Ratio Rank: 55
VNOM Omega Ratio Rank: 53
VNOM Calmar Ratio Rank: 67
VNOM Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LB vs. VNOM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LandBridge Company LLC (LB) and Viper Energy Partners LP (VNOM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	LB	VNOM	Difference
Sharpe ratio Return per unit of total volatility	0.09	0.67	-0.58
Sortino ratio Return per unit of downside risk	0.56	1.07	-0.51
Omega ratio Gain probability vs. loss probability	1.07	1.13	-0.06
Calmar ratio Return relative to maximum drawdown	0.11	1.40	-1.29
Martin ratio Return relative to average drawdown	0.21	2.45	-2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LB vs. VNOM - Sharpe Ratio Comparison

The current LB Sharpe Ratio is 0.09, which is lower than the VNOM Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of LB and VNOM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LB	VNOM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	0.67	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.78	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.28	0.21	+1.07

Drawdowns

LB vs. VNOM - Drawdown Comparison

The maximum LB drawdown since its inception was -48.25%, smaller than the maximum VNOM drawdown of -86.96%. Use the drawdown chart below to compare losses from any high point for LB and VNOM.

Drawdown Indicators

	LB	VNOM	Difference
Max Drawdown Largest peak-to-trough decline	-48.25%	-86.96%	+38.71%
Max Drawdown (1Y) Largest decline over 1 year	-48.25%	-14.09%	-34.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.96%	—
Current Drawdown Current decline from peak	-10.97%	-9.85%	-1.12%
Average Drawdown Average peak-to-trough decline	-19.10%	-31.70%	+12.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.97%	8.00%	+16.97%

Volatility

LB vs. VNOM - Volatility Comparison

LandBridge Company LLC (LB) has a higher volatility of 14.86% compared to Viper Energy Partners LP (VNOM) at 8.01%. This indicates that LB's price experiences larger fluctuations and is considered to be riskier than VNOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LB	VNOM	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.86%	8.01%	+6.85%
Volatility (6M) Calculated over the trailing 6-month period	40.68%	20.23%	+20.45%
Volatility (1Y) Calculated over the trailing 1-year period	59.81%	29.50%	+30.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.90%	35.92%	+31.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.90%	45.22%	+22.68%

Dividends

LB vs. VNOM - Dividend Comparison

LB's dividend yield for the trailing twelve months is around 0.55%, less than VNOM's 4.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LB LandBridge Company LLC	0.55%	0.82%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VNOM Viper Energy Partners LP	4.93%	6.03%	4.89%	5.58%	7.68%	5.16%	5.85%	7.38%	8.14%	5.27%	4.83%	6.16%

Financials

LB vs. VNOM - Profitability Comparison

The chart below illustrates the profitability comparison between LandBridge Company LLC and Viper Energy Partners LP over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

LB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, LandBridge Company LLC reported a gross profit of 0.00 and revenue of 51.01M. Therefore, the gross margin over that period was 0.0%.

VNOM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported a gross profit of 255.00M and revenue of 496.00M. Therefore, the gross margin over that period was 51.4%.

LB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, LandBridge Company LLC reported an operating income of 29.18M and revenue of 51.01M, resulting in an operating margin of 57.2%.

VNOM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported an operating income of 238.00M and revenue of 496.00M, resulting in an operating margin of 48.0%.

LB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, LandBridge Company LLC reported a net income of 17.87M and revenue of 51.01M, resulting in a net margin of 35.0%.

VNOM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported a net income of 97.00M and revenue of 496.00M, resulting in a net margin of 19.6%.

Frequently Asked Questions

Can I hold both LB and VNOM in my portfolio?

LB and VNOM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LB or VNOM?

LB has higher volatility (14.86%) compared to VNOM (8.01%). In terms of maximum drawdown, LB dropped -48.25% vs VNOM's -86.96%.

Which has better risk-adjusted returns?

VNOM currently has the higher Sharpe Ratio (0.67 vs 0.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.