Overview
Texas Pacific Land Corp
Latest 10-K: FY2025, filed Feb 18, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $0.80B
- 13.1%YoYup from FY2024
- TotalRevenue
- Gross profit
- Not reported
- Operating income
- $0.59B
- 9.8%YoYup from FY2024
- OperatingIncome
- Net income
- $0.48B
- 6.0%YoYup from FY2024
- NetIncome
- Diluted EPS
- $6.97
- 6.1%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 69.0M
- 0.0%YoYunchanged from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Texas Pacific Land Corp reported revenue of $0.80B for fiscal 2025, up 13.1% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.
Profitability
- Operating margin was 74.2% and net margin was 60.3%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $6.97, up 6.1% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $798.19M13.1%up Benchmark median 6.4% | $705.82M11.8%up Benchmark median 4.5% | $631.60M5.4%down Benchmark median 4.8% | $667.42M48.0%up Benchmark median 10.3% | $450.96M49.0%up Benchmark median 13.8% | 15.3% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | — | — | — | — | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $592.16M9.8%up Benchmark median 7.3% | $539.14M10.9%up Benchmark median 7.4% | $486.05M13.6%down Benchmark median 4.9% | $562.31M55.2%up Benchmark median 7.5% | $362.39M66.8%up Benchmark median 23.5% | 13.1% Benchmark median 7.2% |
| Net Income | $481.38M6.0%up Benchmark median 4.8% | $453.96M11.9%up Benchmark median 5.7% | $405.64M9.1%down Benchmark median 1.9% | $446.36M65.3%up Benchmark median 1.3% | $269.98M53.4%up Benchmark median 33.9% | 15.6% Benchmark median 4.1% |
| EPS (Diluted) | $6.976.1%up Benchmark median 6.2% | $6.5712.1%up Benchmark median 7.9% | $5.86‡n/m Benchmark median 1.9% | $19.26‡n/m Benchmark median 1.5% | $34.8353.4%up Benchmark median 34.8% | n/m Benchmark median 5.6% |
‡ Share basis changed between these years (stock split or reverse split).
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $1.62B30.1%up Benchmark median 5.6% | $1.25B7.9%up Benchmark median 3.4% | $1.16B31.8%up Benchmark median 4.1% | $0.88B14.8%up Benchmark median 2.2% | $0.76B33.7%up Benchmark median 6.7% | 20.7% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $164.37M42.2%up Benchmark median 6.4% | $115.56M2.1%up Benchmark median 1.9% | $113.20M8.3%up Benchmark median 2.9% | $104.54M7.0%down Benchmark median 2.0% | $112.35M30.0%up Benchmark median 5.2% | 10.0% Benchmark median 4.4% |
| Stockholders' Equity | $1.46B28.8%up Benchmark median 6.8% | $1.13B8.6%up Benchmark median 5.4% | $1.04B35.0%up Benchmark median 7.3% | $0.77B18.6%up Benchmark median 2.5% | $0.65B34.3%up Benchmark median 9.0% | 22.3% Benchmark median 6.1% |
| Cash & Equivalents | $144.81M60.8%down Benchmark median 5.2% | $369.83M49.0%down Benchmark median 1.9% | $725.17M42.0%up Benchmark median 6.7% | $510.83M19.3%up Benchmark median -8.6% | $428.24M52.4%up Benchmark median -2.9% | -23.7% Benchmark median 2.0% |
| Total Debt | — | — | — | — | — | — Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $545.91M11.3%up Benchmark median 6.3% | $490.67M17.3%up Benchmark median 4.8% | $418.29M6.5%down Benchmark median 9.9% | $447.15M68.6%up Benchmark median -0.7% | $265.16M28.1%up Benchmark median 10.7% | 19.8% Benchmark median 7.0% |
| Capital Expenditures | — | — | — | $18.97M15.5%up Benchmark median 14.0% | $16.41M222.7%up Benchmark median 8.1% | — Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | — | — | — | $428.18M72.1%up Benchmark median -11.3% | $248.75M23.2%up Benchmark median 10.2% | — Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
2.4%
Wall Street
on net earnings
FY2024 1.8%
— Not reported
Value investor
on free cash flow
FY2024 — Not reported
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 41.2×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
7.4%
Wall Street
on book equity
FY2024 4.4%
7.2%
Value investor
on tangible book
FY2024 4.3%
Gap −0.2 pts: Value-investor figure 0.2 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 13.6×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
37.2%
Wall Street
ROE: net income ÷ equity
FY2024 41.7%
33.3%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 50.6%
Gap −3.9 pts: Value-investor figure 3.9 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
82.0%
Wall Street
EBITDA margin
FY2024 79.9%
— Not reported
Value investor
Free-cash-flow margin
FY2024 — Not reported
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
4.40×
Wall Street
Current ratio
FY2024 10.81×
4.40×
Value investor
Quick ratio, inventory excluded
FY2024 10.81×
Gap Same: Both views read the same
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on TPL yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on TPL and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/TPL
Valuein. (2026, October 31). Texas Pacific Land Corp (TPL) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/TPL
@misc{valuein_tpl_2026,
author = {{Valuein}},
title = {Texas Pacific Land Corp (TPL) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/TPL}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 18, 2026 · accession 0001811074-26-000018
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing
Index names are trademarks of their owners; Valuein is not affiliated with or endorsed by any index provider.