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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $798.19M | $705.82M | $631.60M | $667.42M | $450.96M | $302.55M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $23.78M | $34.48M | $14.93M | $13.35M | $11.78M | $9.75M |
| Total Operating Expenses | $206.03M | $166.69M | $145.54M | $105.11M | $88.56M | $85.30M |
| D&A | $62.53M | $25.16M | $14.76M | $15.38M | $16.26M | $14.39M |
| Operating Income | $592.16M | $539.14M | $486.05M | $562.31M | $362.39M | $217.25M |
| Interest Expense | $0 | - | - | - | - | - |
| Income Tax | $128.95M | $124.86M | $111.92M | $122.49M | $93.04M | $43.61M |
| Net Income | $481.38M | $453.96M | $405.64M | $446.36M | $269.98M | $176.05M |
| EPS - Basic | $6.98 | $6.58 | $5.87 | $6.42 | $2.52 | - |
| EPS - Diluted | $6.97 | $6.57 | $5.86 | $6.42 | $2.52 | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $144.81M | $369.83M | $725.17M | $510.83M | $428.24M | $303.64M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | $319.32M | $503.37M | $862.46M | $633.40M | $526.51M | - |
| Total Assets | $1.62B | $1.25B | $1.16B | $877.43M | $764.06M | $571.63M |
| Current Liabilities | $72.60M | $46.56M | $44.39M | $39.59M | $50.90M | - |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $164.37M | $115.56M | $113.20M | $104.54M | $112.35M | $86.04M |
| Stockholders' Equity | $1.46B | $1.13B | $1.04B | $772.89M | $651.71M | $105.10M |
| Retained Earnings | $1.60B | $1.28B | $1.17B | $866.14M | $668.03M | - |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $545.91M | $490.67M | $418.29M | $447.15M | $265.16M | $207.04M |
| Investing Cash Flow | ($595.85M) | ($471.75M) | ($60.31M) | ($21.40M) | ($15.00M) | ($26.00M) |
| Financing Cash Flow | ($176.04M) | ($378.09M) | ($144.61M) | ($336.81M) | ($104.95M) | ($201.66M) |
| CapEx | - | - | - | $18.97M | $16.41M | $5.09M |
| Free Cash Flow | - | - | - | $428.18M | $248.75M | $201.95M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 74.2% | 76.4% | 77.0% | 84.3% | 80.4% | 71.8% |
| EBITDA margin | 82.0% | 79.9% | 79.3% | 86.6% | 84.0% | 76.6% |
| Net margin | 60.3% | 64.3% | 64.2% | 66.9% | 59.9% | 58.2% |
| Free cash flow margin | - | - | - | 64.2% | 55.2% | 66.7% |
| FCF / Net income | - | - | - | 0.96 | 0.92 | 1.15 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 3.0% | 4.9% | 2.4% | 2.0% | 2.6% | 3.2% |
| Effective tax rate | 21.1% | 21.6% | 21.6% | 21.5% | 25.6% | 19.9% |
| Return on assets | 29.7% | 36.4% | 35.1% | 50.9% | 35.3% | 30.8% |
| Return on equity | 33.0% | 40.1% | 38.9% | 57.8% | 41.4% | 167.5% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 4.40 | 10.81 | 19.43 | 16.00 | 10.34 | - |
| Quick ratio | 4.40 | 10.81 | 19.43 | 16.00 | 10.34 | - |
| Cash ratio | 1.99 | 7.94 | 16.34 | 12.90 | 8.41 | - |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.11 | 1.10 | 1.11 | 1.14 | 1.17 | 5.44 |
| Liabilities / Assets | 0.10 | 0.09 | 0.10 | 0.12 | 0.15 | 0.15 |
| Efficiency | ||||||
| Asset turnover | 0.49 | 0.57 | 0.55 | 0.76 | 0.59 | 0.53 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 41.2x | 56.1x | 29.8x | 40.6x | 55.0x | - |
| P / B | 13.6x | 7.5x | 1.3x | 2.6x | 1.7x | 6.0x |
| P / S | 24.8x | 12.0x | 2.1x | 3.0x | 2.4x | 2.1x |
| EV / EBITDA | 30.1x | 14.4x | 1.2x | 2.6x | 1.7x | 1.4x |
| Growth | ||||||
| Revenue growth (YoY) | 13.1% | 11.8% | -5.4% | 48.0% | 49.1% | - |
| Revenue CAGR (3y) | 6.1% | 16.1% | 27.8% | - | - | - |
| Revenue CAGR (5y) | 21.4% | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 9.8% | 10.9% | -13.6% | 55.2% | 66.8% | - |
| Net income growth (YoY) | 6.0% | 11.9% | -9.1% | 65.3% | 53.4% | - |
| EPS growth (YoY) | 6.0% | 12.1% | -8.7% | 154.5% | - | - |
| EPS CAGR (3y) | 2.8% | 37.6% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | 72.1% | 23.2% | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 28.8% | 8.6% | 35.0% | 18.6% | 520.1% | - |
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%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
6.29
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✗Asset turnover improved
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 |