WaterBridge Infrastructure has posted extraordinary revenue growth of 105% year-over-year with strong positive momentum and a Piotroski F-Score of 8 out of 9, but has missed earnings estimates in both of its last 2 reported quarters and the stock trades more than 12% above analyst price targets.
Thesis pillars
- Exceptional Revenue Growth Trajectory→Stable
- Earnings Miss Both Recent Quarters→Stable
- Strong Momentum Volume Accumulation↑Improving
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Mar 16, 2026· older than 90 days
WaterBridge Infrastructure LLC (WBI) Stock Analysis
Energy · Oil & Gas Equipment & Services
Hold if already holding. Not a fresh buy at $28.32, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: Delaware Basin; Concentration risk — Customer: top five customers (51.0%).
WaterBridge Infrastructure is the largest integrated produced-water infrastructure company in the U.S., gathering, transporting, and disposing of produced water for oil and gas E&P companies under long-term contracts, mainly in the Delaware Basin of West Texas and New Mexico. As... Read more
Hold if already holding. Not a fresh buy at $28.32, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: Delaware Basin; Concentration risk — Customer: top five customers (51.0%). Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Score 6.4/10, high confidence.
Passes 5/8 gates (positive momentum, clean insider activity, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 0d<=7d. Suitability: aggressive.
About WaterBridge Infrastructure LLC
About WaterBridge Infrastructure LLC
WaterBridge Infrastructure operates the largest produced-water infrastructure network in the United States, with 2,500 miles of pipeline and 201 water handling facilities delivering 4.7 million barrels per day of capacity across roughly 2.4 million acres dedicated under long-term contracts. The Delaware Basin of West Texas and New Mexico is the company's largest operating region, accounting for a majority of 2025 revenue, alongside smaller positions in the Eagle Ford and Arkoma basins.
WaterBridge earns revenue primarily from fixed per-barrel fees for gathering, transporting, treating, and disposing of produced water under long-term contracts — 71% with an initial term of at least 15 years and a weighted-average remaining life of 10.4 years — supplemented by fee escalators tied to the Consumer Price Index and minimum-volume commitments that underwrite return thresholds on new infrastructure. Devon Energy, an equity holder that contributed acreage and facilities in a 2023 strategic partnership, was WaterBridge's largest customer in 2025 at approximately $98 million, or 19%, of water-related revenue, and Devon along with four other top customers — Permian Resources, bpx energy, Mewbourne Oil, and EOG Resources — together represented approximately 51% of total water-related revenue. The company's synergistic relationship with affiliate LandBridge, which shares WaterBridge's sponsor Five Point and management team, provides preferential access to underutilized pore space needed for produced-water disposal capacity in and around the Delaware Basin.
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WaterBridge's own risk disclosure frames the Delaware Basin dependence directly: because a majority of revenue comes from that single region, the company is 'vulnerable to risks associated with geographic concentration generally and the Delaware Basin specifically,' including regional supply-and-demand swings, weather, and recent producer consolidation activity that could reduce customers' capital spending in the basin. That concentration compounds the company's reliance on a small number of large E&P customers, since Devon alone represents roughly a fifth of water-related revenue and any shift in its drilling pace would disproportionately affect volumes across WaterBridge's network.
See also: Energy · Oil & Gas Equipment & Services
From WaterBridge Infrastructure LLC's most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated Oct 31, 2026Recent Developments — WaterBridge Infrastructure LLC
Latest news
- NEWS WBI (NYSE:WBI) Stock Crosses Above 50-Day Moving Average - Time to Sell? - MarketBeat — MarketBeat Oct 31, 2026 neutral
- NEWS WaterBridge (WBI) Earnings Expected to Grow: What to Know Ahead of Next Week's Release - Yahoo Finance — Yahoo Finance Oct 28, 2026 positive
- NEWS WBI Q3'26 Earnings: revenue estimate is 231.84M USD - TradingView — TradingView Oct 28, 2026 neutral
- NEWS Top 3 Energy Stocks That May Rocket Higher This Quarter — benzinga Oct 2, 2026 neutral
- NEWS Piper Sandler Assumes WaterBridge Infr at Overweight, Announces Price Target of $37 — benzinga Sep 28, 2026 neutral
Latest item Oct 31, 2026 · Generated 2026-11-04T11:34:32Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicDelaware Basin10-K Item 1A: 'The Delaware Basin of Texas and New Mexico is presently our largest operating region, accounting for a majority of our revenue for the year ended December 31, 2025.'
- LOWCustomerDevon19%10-K Item 1: 'Devon was one of our largest customers by volume and accounted for approximately $98 million of our water-related revenues, which represented approximately 19% of our total water-related revenues for the year.'
- HIGHCustomertop five customers51%10-K Item 1: 'our top five customers by revenue consisted of Devon, Permian Resources Corporation, bpx energy, Mewbourne Oil Company and EOG Resources, Inc, which collectively represented approximately 51% of our total water-related revenue for the year.'
Material Events(8-K, last 90d)
- 2026-04-14Item 5.02LOWBoard appointed Valerie Chase as an independent director and Chair of the Audit Committee, replacing Kara Goodloe Harling on that committee (Goodloe Harling remains a Board member). Routine board appointment, not a departure.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker·1 ceiling hit
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $28.32, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: Delaware Basin; Concentration risk — Customer: top five customers (51.0%). Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Analyst target $31.75 (+12.1%), stop $26.86 (−5.4%), A.R:R 1.3:1. Score 6.4/10, high confidence.
Analyst target: $31.75 (+12.1% upside). Analyst target $31.75 (+12.1%), stop $26.86 (−5.4%), A.R:R 1.3:1. Stop-loss: $26.86.
Concentration risk — Geographic: Delaware Basin; Concentration risk — Customer: top five customers (51.0%).
WaterBridge Infrastructure LLC trades at a P/E of 354.0 (forward 23.6). TrendMatrix value score: 6.7/10. Verdict: Hold.
13 analysts rate WBI, with a consensus score of 4.0/5. 8 analysts publish price targets averaging $37.
What does WaterBridge Infrastructure LLC do?WaterBridge Infrastructure is the largest integrated produced-water infrastructure company in the U.S., gathering,...
WaterBridge Infrastructure is the largest integrated produced-water infrastructure company in the U.S., gathering, transporting, and disposing of produced water for oil and gas E&P companies under long-term contracts, mainly in the Delaware Basin of West Texas and New Mexico. As of December 31, 2025 it operated about 2,500 miles of pipeline and 201 water handling facilities with 4.7 million bpd of capacity across 2.4 million dedicated acres.