Texas Pacific Land Corp TPL
Texas Pacific Land Corporation (which, together with its subsidiaries as the context requires, may be referred to as "TPL," the "Company," "our," "we," or "us") is a Delaware Corporation and one of the largest landowners in the State of Texas with approximately 882,000 surface acres of land, principally concentrated in the Permian Basin. Additionally, we own a 1/128th nonparticipating perpetual oil and gas royalty interest ("NPRI") under approximately 85,000 acres of land, a 1/16th NPRI under approximately 371,000 acres of land, and approximately 33,000 additional net royalty acres (normalized to 1/8th) ("NRA"), for a collective total of approximately 224,000 NRA, principally concentrated in the Permian Basin.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $798.2M | $705.8M | $631.6M | $667.4M | $451.0M | $302.6M | $490.5M | $300.2M | — |
| SG&A | $23.8M | $34.5M | $46.5M | $22.0M | $11.6M | $9.8M | $9.5M | $4.7M | — |
| Total operating expenses | $206.0M | $166.7M | $145.5M | $105.1M | $88.6M | $85.3M | $90.9M | $39.4M | — |
| Operating income | $592.2M | $539.1M | $486.1M | $562.3M | $362.4M | $217.3M | $399.6M | $260.8M | — |
| Interest expense | $690.0K | $0 | $0 | — | — | — | — | — | — |
| Pre-tax income | $610.3M | $578.8M | $517.6M | $568.9M | $363.0M | $219.7M | $402.3M | $261.8M | — |
| Income tax | $129.0M | $124.9M | $111.9M | $122.5M | $93.0M | $43.6M | $83.5M | $52.0M | — |
| Net income | $481.4M | $454.0M | $405.6M | $446.4M | $270.0M | $176.0M | $318.7M | $209.7M | — |
| EPS, basic | 6.98 | 6.58 | 5.87 | 19.27 | 34.83 | 22.70 | 41.09 | — | — |
| EPS, diluted | 6.97 | 6.57 | 5.86 | 19.26 | 34.83 | 22.70 | 41.09 | 26.93 | — |
| Shares, diluted (wtd. avg.) | 69.0M | 69.1M | 69.2M | 23.2M | 7.8M | 7.8M | 7.8M | 7.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $144.8M | $369.8M | $730.5M | $517.2M | $428.2M | $283.0M | $303.6M | $123.4M | $79.6M |
| Total current assets | $319.3M | $503.4M | $862.5M | $633.4M | $526.5M | $332.5M | — | — | — |
| Property, plant and equipment | $164.5M | $122.6M | $89.6M | $85.5M | $79.7M | $79.3M | $88.3M | — | — |
| Other intangibles | $32.8M | $35.2M | $21.0M | $0 | — | — | — | — | — |
| Total assets | $1.62B | $1.25B | $1.16B | $877.4M | $764.1M | $571.6M | $598.2M | — | — |
| Accounts payable | $39.6M | $27.0M | $22.5M | $23.4M | $17.9M | $13.3M | $19.2M | — | — |
| Total current liabilities | $72.6M | $46.6M | $44.4M | $39.6M | $50.9M | $21.4M | — | — | — |
| Total liabilities | $164.4M | $115.6M | $113.2M | $104.5M | $112.4M | $86.5M | $86.0M | — | — |
| Retained earnings | $1.60B | $1.28B | $1.17B | $866.1M | $668.0M | $487.9M | — | — | — |
| Total equity | $1.46B | $1.13B | $1.04B | $772.9M | $651.7M | $485.2M | $512.1M | $244.7M | $105.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $545.9M | $490.7M | $418.3M | $447.1M | $265.2M | $207.0M | $342.8M | $195.4M | — |
| Depreciation and amortisation | $62.5M | $25.2M | $14.8M | $15.4M | $16.3M | $14.4M | $8.9M | $2.6M | — |
| Stock-based compensation | $15.1M | $12.5M | $10.3M | $8.4M | $28.0K | $0 | $0 | — | — |
| Capital expenditure | — | — | — | $19.0M | $16.4M | $5.1M | $32.2M | $47.9M | — |
| Investing cash flow | -$595.8M | -$471.7M | -$60.3M | -$21.4M | -$15.0M | -$26.0M | -$111.7M | -$81.5M | — |
| Financing cash flow | -$176.0M | -$378.1M | -$144.6M | -$336.8M | -$104.9M | -$201.7M | -$50.9M | -$70.0M | — |
| Dividends paid | $147.8M | $347.3M | $100.0M | $247.3M | $85.3M | $201.7M | $46.5M | $31.7M | — |
| Buybacks | $8.4M | $29.2M | $42.6M | $87.8M | $19.7M | $0 | $4.4M | $38.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001811074-26-000018.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $300.2M | $490.5M | $302.6M | $451.0M | $667.4M | $631.6M | $705.8M | $798.2M |
| Gross profit | — | — | — | — | — | — | — | — | — |
| Net income | — | $209.7M | $318.7M | $176.0M | $270.0M | $446.4M | $405.6M | $454.0M | $481.4M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 6792
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| LB | LandBridge Co LLC | $2.21B | 84.2x | 81.1% |