Texas Pacific Land Corporation

Energy Oil & Gas Exploration & Production Dallas, Texas Last filing Feb 18, 2026 · FY2025

                    Revenue
                    FY2025
                
$798.2M
                    3y CAGR +6.1%
                    
                    P79
                    
                    +13.1%
                    
                    Net income
                    FY2025
                
$481.4M
                    Net margin +60.3%
                    
                    P100
                    
                    +6.0%
                    
                    Total assets
                    FY2025
                
$1.6B
                    ROA +29.7%
                    
                    P100
                    
                    +30.1%
                    
                    Operating cash flow
                    FY2025
                
$545.9M
                    
                    +11.3%

8 yrs · FY2018–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 3 years

Total assets $1.6B

Total liabilities $164.4M

Shareholders equity $1.5B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	-55.3%	-49.0%	—
Accounts Receivable	—	+0.0%	—
Prepaid Expenses	+34.1%	+80.6%	—
Other Current Assets	+34.1%	+80.6%	—
Total Current Assets	-39.2%	-41.6%	—
Property,Plant and Equipment	+35.5%	+36.8%	—
Operating Lease Assets	+171.2%	-37.5%	—
Intangible Assets	+25.0%	+67.4%	—
Deferred Tax Assets	+137.7%	-5.1%	—
Other Noncurrent Assets	+121.7%	+110.1%	—
Total Assets	+18.5%	+7.9%	—
Liabilities
Accounts Payable	+32.6%	+19.8%	—
Accrued Liabilities	+22.8%	+83.9%	—
Deferred Revenue	+78.2%	+7.4%	—
Operating Lease Liabilities	+271.8%	-61.3%	—
Other Current Liabilities	+27.9%	+4.9%	—
Total Current Liabilities	+27.9%	+4.9%	—
Deferred Revenue Noncurrent	-8.2%	-17.5%	—
Operating Lease Liabilities Noncurrent	+271.8%	-61.3%	—
Deferred Tax Liabilities	+13.0%	+11.9%	—
Other Noncurrent Liabilities	+27.9%	+4.9%	—
Total Liabilities	+20.5%	+2.1%	—
Equity
Preferred Stock	—	—	—
Common Stock	+197.6%	+196.2%	—
Additional Paid In Capital	-17.7%	+36.2%	—
Retained Earnings	+16.7%	+9.0%	—
Treasury Stock	-75.9%	+16.4%	—
Accumulated Other Comprehensive Income	+50.5%	+95.7%	—
Total Stockholders Equity	+18.3%	+8.6%	—
Total Liabilitiesand Equity	+18.5%	+7.9%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $798.2M

Operating income $592.2M

Net income $481.4M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+12.4%	+11.8%	—
Expenses Cost of Revenue	+19.0%	+14.5%	—
Expenses Selling,General and Administrative	-28.4%	-25.8%	—
Expenses Depreciation and Amortization	+105.9%	+70.5%	—
Expenses Share Based Compensation	+21.0%	+20.8%	—
Expenses Operating Expenses	+19.0%	+14.5%	—
Other Income Expense Operating Income	+10.4%	+10.9%	—
Other Income Expense Other Income/expense	-92.0%	-0.5%	—
Other Income Expense Income Before Tax	+8.6%	+11.8%	—
Income Tax Income Tax Expense	+7.3%	+11.6%	—
net Income net Income	+8.9%	+11.9%	—
net Income Comprehensive Income	+9.1%	+12.5%	—
Earnings Per Share Basic Eps	+9.0%	+12.1%	—
Earnings Per Share Diluted Eps	+9.1%	+12.1%	—
Earnings Per Share Weighted Average Shares Basic	-0.1%	-0.3%	—
Earnings Per Share Weighted Average Shares Diluted	-0.1%	-0.2%	—

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 3 years

Operating cash flow $545.9M

Investing cash flow $-595.8M

Financing cash flow $-176.0M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	+8.9%	+11.9%	—
Operating Activities Depreciation and Amortization	+105.9%	+70.5%	—
Operating Activities Stock Based Compensation	+21.0%	+20.8%	—
Operating Activities Deferred Income Taxes	+116.5%	+229.1%	—
Operating Activities Changes In Operating Assets and Liabilities	+63.5%	—	—
Operating Activities Other Non Cash Items	—	—	—
Operating Activities net Cash From Operating Activities	+14.2%	+17.3%	—
Investing Activities Business Acquisitions	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—
Financing Activities Repayment of Debt	—	—	—
Financing Activities Repurchase of Common Stock	-55.6%	-31.5%	—
Financing Activities Dividends Paid	+21.6%	+247.4%	—
Financing Activities Tax Withholding On Stock Based Compensation	+167.7%	-21.4%	—
Financing Activities net Cash From Financing Activities	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	-55.4%	-49.2%	—
Cash Reconciliation net Change In Cash	—	—	—
Cash Reconciliation Cash At Beginning of Period	-55.4%	-49.2%	—
Cash Reconciliation Cash At End of Period	-55.4%	-49.2%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+74.2%	+76.4%	+77.0%
Operating margin	+74.2%	+76.4%	+77.0%
Net margin	+60.3%	+64.3%	+64.2%
FCF margin	—	—	—
Growth
Revenue CAGR (3y)	+6.1%	+16.1%	+27.8%
Returns
ROE	+33.0%	+40.1%	+38.9%
ROA	+29.7%	+36.4%	+35.1%
ROIC	—	—	—
Liquidity
Current ratio	4.40x	10.81x	19.43x
Quick ratio	1.99x	7.95x	16.34x
Leverage
D/E	0.11x	0.10x	0.11x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.49x	0.57x	0.55x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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Texas Pacific Land Corporation

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