TPL · Texas Pacific Land Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $236.82M | - | $203.09M | $187.54M | $195.98M | - | $173.56M | $172.33M | $174.14M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $8.63M | - | $5.59M | $5.69M | $6.07M | - | $4.03M | $3.67M | $4.92M | - |
| Total Operating Expenses | $54.49M | - | $53.99M | $43.79M | $45.91M | - | $46.23M | $39.11M | $38.10M | - |
| D&A | $14.04M | - | $14.96M | $13.70M | $11.94M | - | $5.76M | $4.09M | $3.84M | - |
| Operating Income | $182.33M | - | $149.09M | $143.75M | $150.07M | - | $127.33M | $133.22M | $136.04M | - |
| Interest Expense | $0 | - | - | - | - | - | - | - | - | - |
| Income Tax | $40.66M | - | $33.94M | $32.85M | $33.74M | - | $28.82M | $31.85M | $31.57M | - |
| Net Income | $142.90M | - | $121.24M | $116.14M | $120.65M | - | $106.59M | $114.59M | $114.42M | - |
| EPS - Basic | $2.07 | - | $1.76 | $1.68 | $1.75 | - | $1.55 | $1.66 | $1.66 | - |
| EPS - Diluted | $2.07 | - | $1.76 | $1.68 | $1.75 | - | $1.54 | $1.66 | $1.66 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $247.57M | $144.81M | $531.81M | $543.93M | $460.38M | $369.83M | $533.91M | $894.70M | $837.10M | $725.17M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $435.08M | $319.32M | $737.17M | $667.50M | $606.92M | $503.37M | $708.97M | $1.02B | $963.83M | $862.46M |
| Total Assets | $1.75B | $1.62B | $1.52B | $1.40B | $1.35B | $1.25B | $1.18B | $1.32B | $1.26B | $1.16B |
| Current Liabilities | $102.92M | $72.60M | $67.90M | $45.13M | $77.86M | $46.56M | $57.33M | $44.27M | $70.87M | $44.39M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $195.51M | $164.37M | $156.95M | $115.72M | $147.03M | $115.56M | $123.44M | $109.37M | $136.72M | $113.20M |
| Stockholders' Equity | $1.56B | $1.46B | $1.37B | $1.29B | $1.21B | $1.13B | $1.05B | $1.21B | $1.12B | $1.04B |
| Retained Earnings | $1.68B | $1.60B | $1.51B | $1.42B | $1.35B | $1.28B | $1.20B | $1.35B | $1.26B | $1.17B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $162.01M | - | - | - | $156.73M | - | - | - | $147.24M | - |
| Investing Cash Flow | ($8.39M) | - | - | - | ($12.52M) | - | - | - | ($2.24M) | - |
| Financing Cash Flow | ($50.86M) | - | - | - | ($51.79M) | - | - | - | ($38.45M) | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 77.0% | - | 73.4% | 76.6% | 76.6% | - | 73.4% | 77.3% | 78.1% | - |
| EBITDA margin | 82.9% | - | 80.8% | 84.0% | 82.7% | - | 76.7% | 79.7% | 80.3% | - |
| Net margin | 60.3% | - | 59.7% | 61.9% | 61.6% | - | 61.4% | 66.5% | 65.7% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 3.6% | - | 2.8% | 3.0% | 3.1% | - | 2.3% | 2.1% | 2.8% | - |
| Effective tax rate | 22.2% | - | 21.9% | 22.0% | 21.9% | - | 21.3% | 21.8% | 21.6% | - |
| Return on assets | 8.2% | - | 8.0% | 8.3% | 8.9% | - | 9.1% | 8.7% | 9.1% | - |
| Return on equity | 9.2% | - | 8.9% | 9.0% | 10.0% | - | 10.1% | 9.5% | 10.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 4.23 | 4.40 | 10.86 | 14.79 | 7.80 | 10.81 | 12.37 | 22.99 | 13.60 | 19.43 |
| Quick ratio | 4.23 | 4.40 | 10.86 | 14.79 | 7.80 | 10.81 | 12.37 | 22.99 | 13.60 | 19.43 |
| Cash ratio | 2.41 | 1.99 | 7.83 | 12.05 | 5.91 | 7.94 | 9.31 | 20.21 | 11.81 | 16.34 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.13 | 1.11 | 1.11 | 1.09 | 1.12 | 1.10 | 1.12 | 1.09 | 1.12 | 1.11 |
| Liabilities / Assets | 0.11 | 0.10 | 0.10 | 0.08 | 0.11 | 0.09 | 0.11 | 0.08 | 0.11 | 0.10 |
| Efficiency | ||||||||||
| Asset turnover | 0.14 | - | 0.13 | 0.13 | 0.14 | - | 0.15 | 0.13 | 0.14 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 229.3x | - | 177.2x | 209.2x | 252.9x | - | 191.1x | 147.4x | 116.4x | - |
| P / B | 21.0x | - | 5.2x | 6.3x | 8.4x | - | 6.5x | 4.7x | 4.0x | - |
| P / S | 138.3x | - | 35.3x | 43.2x | 51.8x | - | 39.1x | 32.7x | 25.5x | - |
| EV / EBITDA | 165.5x | - | 40.4x | 48.0x | 59.9x | - | 47.0x | 34.5x | 25.8x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 20.8% | - | 17.0% | 8.8% | 12.5% | - | 9.9% | 7.3% | 19.0% | - |
| Revenue CAGR (3y) | 17.4% | - | 2.0% | 2.1% | 10.0% | - | 12.0% | 21.6% | 27.4% | - |
| Revenue CAGR (5y) | 23.0% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 21.5% | - | 17.1% | 7.9% | 10.3% | - | 0.3% | 10.8% | 29.6% | - |
| Net income growth (YoY) | 18.4% | - | 13.7% | 1.4% | 5.4% | - | 1.0% | 14.1% | 32.2% | - |
| EPS growth (YoY) | 18.5% | - | 13.8% | 1.4% | 5.4% | - | -88.8% | -87.3% | -85.3% | - |
| EPS CAGR (3y) | -43.1% | - | -52.9% | -52.2% | -48.3% | - | -36.3% | -39.1% | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 29.0% | 28.8% | 30.0% | 6.8% | 7.5% | 8.6% | 9.1% | 35.9% | 35.4% | 35.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$798.19M totalLand And Resource Management Segment$490.73M · 61.5%
Water Serviceand Operations Segment$307.46M · 38.5%
Product / service
$798.19M totalOil And Gas Royalties$411.68M · 51.6%
Water Sales And Royalties$169.70M · 21.3%
Produced Water Royalties$124.22M · 15.6%
Easementand Sundry$91.78M · 11.5%
Land Sales$819.0K · 0.1%
Peer comparison
Same SIC group: Oil Royalty Traders
Comparing Texas Pacific Land Corp against the 3 most active filers in the same SIC group.
Dividends
$2.27/share trailing 12 months · -57.4% YoY
| Ex-date | Per share |
|---|---|
| Jun 1, 2026 | $0.6000 |
| Mar 2, 2026 | $0.6000 |
| Dec 1, 2025 | $0.5333 |
| Sep 2, 2025 | $0.5333 |
| Jun 2, 2025 | $0.5333 |
| Mar 3, 2025 | $0.5333 |
| Dec 2, 2024 | $0.5333 |
| Sep 3, 2024 | $0.3900 |
| Jul 1, 2024 | $3.3333 |
| Jun 3, 2024 | $0.3900 |
| Feb 29, 2024 | $0.3889 |
| Nov 30, 2023 | $0.3611 |
| Aug 31, 2023 | $0.3611 |
| Jun 7, 2023 | $0.3611 |
| Mar 7, 2023 | $0.3611 |
| Dec 7, 2022 | $0.3333 |
| Sep 7, 2022 | $0.3333 |
| Jun 7, 2022 | $2.5556 |
| Mar 7, 2022 | $0.3333 |
| Dec 7, 2021 | $0.3056 |
| Sep 7, 2021 | $0.3056 |
| Jun 7, 2021 | $0.3056 |
| Mar 5, 2021 | $0.3056 |
| Dec 10, 2020 | $1.1111 |