How many subsidiaries does WaterBridge Infrastructure LLC file with the SEC?

24, listed in its most recent exhibit 21. They are incorporated across 3 jurisdictions (Delaware, Texas, Oklahoma). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is WaterBridge Infrastructure LLC financially healthy?

WaterBridge Infrastructure LLC scores 4 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the distress zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

WaterBridge Infrastructure LLC (WBI)

NYSE · Common Stock · Oil & Gas Field Services, NEC

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

24 entities across 3 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-16 — see the exhibit.

Which other public companies file entities in the same places:

Delaware19 Texas3 Oklahoma2

Subsidiaries of WaterBridge Infrastructure LLC as disclosed in its SEC filing
Entity	Jurisdiction	Note
Arkoma Water Resources, LLC	Delaware
Desert Environmental LLC	Delaware
Desert Operating LLC	Delaware
Desert Reclamation LLC	Delaware
EVX Eagle Ford Partners, LLC	Delaware
EVX Land LLC	Delaware
EVX Operating LLC	Delaware
EVX South Texas SWD, LLC	Texas
Pecos Water LLC	Delaware
Permian Water LLC	Delaware
Safefill Pecos, LLC	Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

4 / 7

PASSReturn on assets positiveROA 0.0%
PASSOperating cash flow positiveOCF 160M
FAILReturn on assets improving0.2% → 0.0%
PASSCash flow exceeds earningsOCF 160M vs NI 9000.0
PASSLong-term debt ratio falling43.4% → 38.7% of assets
FAILCurrent ratio improving1.44 → 1.38
FAILNo share dilutionno data
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.23× → 0.14×

Altman Z-score

1.43distress

Bankruptcy-risk screen combining working capital, retained earnings, operating income, market value against liabilities, and asset turnover. Above 2.99 is the safe zone; below 1.81 is distress.

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2023	$200.8M	$14.7M	−$99.5M	—	—
FY2024	$316.3M	$3.0M	−$86.1M	—	—
FY2025	$525.6M	$9,000	−$118.9M	—	—

Identity

CIK: 0002064947
FIGI: BBG01WX46VV4
SIC: 1389 · Oil & Gas Field Services, NEC
Incorporated: DE
Headquarters: HOUSTON, TX

Ownership

Institutional: 107.9%
Institutions: 214
Insiders: 45.4%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other oil & gas field services, nec companies

WaterBridge Infrastructure LLC files under SIC 1389 — all 9 oil & gas field services, nec companies compared on assets and F-score.

HALLIBURTON COHAL OCEANEERING INTERNATIONAL INCOII HELIX ENERGY SOLUTIONS GROUP INCHLX ProFrac Holding Corp.ACDC Select Water Solutions, Inc.WTTR Ranger Energy Services, Inc.RNGR

Questions about WaterBridge Infrastructure LLC

How many subsidiaries does WaterBridge Infrastructure LLC file with the SEC?: 24, listed in its most recent exhibit 21. They are incorporated across 3 jurisdictions (Delaware, Texas, Oklahoma). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is WaterBridge Infrastructure LLC financially healthy?: WaterBridge Infrastructure LLC scores 4 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the distress zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.