TPL

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Texas Pacific Land Corp.

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Key Metrics

Previous Close: $373.18
52-Week Range: $269.23 – $547.20
Market Cap: $25.49B
P/E (TTM): 47.20
EPS (TTM): 7.83
Dividend Yield: 0.65%

Advanced Metrics

Price/Book: 16.38
PEG Ratio: 7.33
Return on Equity: 36.57%
Return on Assets: 25.81%
Gross Margin: 93.34%
Operating Margin: 78.18%
Profit Margin: 60.32%
Current Ratio: 4.55
Debt/Equity: 0.01
Total Debt: $18.02M
Free Cash Flow: $-32.84M
Revenue Growth: 31.20%
Earnings Growth: 32.70%
Enterprise Value: $25.26B

TPL Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$667.42M	$631.60M	$705.82M	$798.19M
Cost of Revenue	$32.84M	$48.32M	$71.29M	$116.06M
Gross Profit	$634.58M	$583.27M	$634.54M	$682.13M
Selling, General & Admin	$63.42M	$89.83M	$88.10M	$81.70M
Operating Expenses	$72.28M	$97.22M	$95.40M	$89.97M
Operating Income	$562.31M	$486.05M	$539.14M	$592.16M
EBITDA	$577.68M	$500.81M	$564.30M	$673.55M
Pretax Income	$568.86M	$517.56M	$578.82M	$610.33M
Income Tax	$122.49M	$111.92M	$124.86M	$128.95M
Net Income	$446.36M	$405.64M	$453.96M	$481.38M
Diluted EPS	6.42	5.86	6.57	6.97
Diluted Shares	69.54M	69.18M	69.06M	69.03M

TPL Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$510.83M	$725.17M	$369.83M	$144.81M
Receivables	$103.98M	$128.97M	$126.67M	$164.91M
Inventory	$109.70M	—	—	—
Current Assets	$633.40M	$862.46M	$503.37M	$319.32M
Total Assets	$877.43M	$1.16B	$1.25B	$1.62B
Current Liabilities	$56.81M	$63.06M	$60.40M	$73.57M
Total Debt	$1.96M	$1.17M	$453.00K	$16.18M
Total Liabilities	$104.54M	$113.20M	$115.56M	$164.37M
Retained Earnings	$866.14M	$1.17B	$1.28B	$1.60B
Shareholders' Equity	$772.89M	$1.04B	$1.13B	$1.46B
Working Capital	$576.59M	$799.40M	$442.97M	$245.75M

TPL Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$447.15M	$418.29M	$490.67M	$545.91M
Capital Expenditure	-$20.87M	-$40.00M	-$425.27M	-$513.77M
Free Cash Flow	$426.27M	$378.29M	$65.40M	$32.13M
Stock-Based Compensation	$8.43M	$10.34M	$12.50M	$15.13M
Investing Cash Flow	-$21.40M	-$60.31M	-$471.75M	-$595.85M
Financing Cash Flow	-$336.81M	-$144.61M	-$378.09M	-$176.04M
Dividends Paid	-$247.28M	-$99.97M	-$347.31M	-$147.80M
Share Repurchases	-$87.77M	-$42.57M	-$29.16M	-$8.38M
Net Change in Cash	$88.94M	$213.37M	-$359.17M	-$225.98M

TPL Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$195.98M	$187.54M	$203.09M	$211.58M	$236.82M
Cost of Revenue	$23.07M	$22.15M	$31.39M	$39.45M	$28.33M
Gross Profit	$172.92M	$165.39M	$171.69M	$172.13M	$208.49M
Selling, General & Admin	$20.64M	$19.77M	$19.98M	$21.32M	$23.62M
Operating Expenses	$22.84M	$21.64M	$22.60M	$22.88M	$26.16M
Operating Income	$150.07M	$143.75M	$149.09M	$149.25M	$182.33M
EBITDA	$166.34M	$157.45M	$164.05M	$190.03M	$198.60M
Pretax Income	$154.39M	$148.99M	$155.18M	$151.76M	$183.56M
Income Tax	$33.74M	$32.85M	$33.94M	$28.42M	$40.66M
Net Income	$120.65M	$116.14M	$121.24M	$123.35M	$142.90M
Diluted EPS	1.75	1.68	1.76	1.79	2.07
Diluted Shares	69.02M	69.04M	69.03M	69.02M	69.01M

TPL Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$460.38M	$543.93M	$531.81M	$144.81M	$247.57M
Receivables	$138.25M	$114.31M	$127.79M	$164.91M	$181.05M
Current Assets	$606.92M	$667.50M	$737.17M	$319.32M	$435.08M
Total Assets	$1.35B	$1.40B	$1.52B	$1.62B	$1.75B
Current Liabilities	$86.15M	$57.34M	$75.63M	$73.57M	$102.92M
Total Debt	—	—	$16.51M	$16.18M	$15.84M
Total Liabilities	$147.03M	$115.72M	$156.95M	$164.37M	$195.51M
Retained Earnings	$1.35B	$1.42B	$1.51B	$1.60B	$1.68B
Shareholders' Equity	$1.21B	$1.29B	$1.37B	$1.46B	$1.56B
Working Capital	$520.77M	$610.16M	$661.54M	$245.75M	$332.16M

TPL Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$156.73M	$120.90M	$154.61M	$113.67M	$162.01M
Capital Expenditure	-$12.51M	-$3.31M	-$18.60M	-$479.35M	-$7.35M
Free Cash Flow	$144.21M	$117.59M	$136.01M	-$365.68M	$154.66M
Stock-Based Compensation	$4.40M	$3.48M	$3.49M	$3.76M	$5.06M
Investing Cash Flow	-$12.52M	-$3.93M	-$121.16M	-$458.24M	-$8.39M
Financing Cash Flow	-$51.79M	-$36.83M	-$45.58M	-$41.83M	-$50.86M
Dividends Paid	-$37.43M	-$36.78M	-$36.81M	-$36.77M	-$41.80M
Share Repurchases	-$100.00K	$0.00	-$8.28M	$0.00	$0.00
Net Change in Cash	$92.42M	$80.13M	-$12.12M	-$386.40M	$102.76M

Market Snapshot

About

Texas Pacific Land Corp. is one of the largest landowners in the state of Texas, with over 880,000 acres primarily in West Texas. The company generates revenue through oil and gas royalties, water services for Permian Basin operators, land sales, and easements. TPL has been in operation since 1888 and benefits from the productive Permian Basin energy region.