WaterBridge Infrastructure LLC(WBI)Earnings, Financials & Key Ratios

WaterBridge Infrastructure is rated 'Hold' as the current valuation (~8x 2026E EBITDA) reflects its franchise quality and growth backlog. WBI's fee-based, volume-driven model benefits from rising produced water volumes in the Permian, underpinned by long-term contracts and regulatory tailwinds. Growth projects like Speedway Phase II and Stateline underpin 8% volume and 10% EBITDA growth guidance for 2026, but leverage remains elevated at 3.3x.

Waterbridge Infrastructure is rated a buy, with shares undervalued by over 63% YoY based on 2026 EBITDA guidance and project momentum. WBI's 2026 adjusted EBITDA guidance is $425–$465 million, underpinned by increased water handling capacity and the Speedway Pipeline Phase II expansion. Net leverage is targeted below 3x by FY 2026, with deleveraging and liquidity management central to the investment thesis.

Devon Holdco, an indirect subsidiary of Devon Energy, sold 1,755,174 Class A shares for a transaction value of $52.7 million on June 22, 2026. This disposition was effected solely through indirect ownership (Devon Holdco).