Texas Pacific Land Corporation (TPL) Financial Statements

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Texas Pacific Land financial statements at a glance

Texas Pacific Land reported revenue of $798.19 million for fiscal year 2025 (ended December 31, 2025), up 13.1% from fiscal year 2024. Net income was $481.38 million, a net margin of 60.3%, and diluted earnings per share were $6.97.

At the end of fiscal year 2025 it had total assets of $1.62 billion, total liabilities of $164.37 million and shareholders' equity of $1.46 billion, with cash and short-term investments of $144.81 million and total debt of $16.18 million.

Its operations brought in $545.91 million of cash; capital spending was $513.78 million, leaving free cash flow of $32.14 million.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

TPL logo

Texas Pacific Land Corporation

TPLUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
798.19M
Prev Year: 705.82M
YoY: +13.1%
Operating Revenue
798.19M
Prev Year: 705.82M
YoY: +13.1%
Diluted EPS
6.97
Prev Year: 19.72
YoY: -64.7%
Basic EPS
6.98
Prev Year: 19.75
YoY: -64.7%
Other Income Expense
888.0K
Prev Year: 7.54M
YoY: -88.2%
Other Taxes
8.26M
Prev Year: 7.29M
YoY: +13.3%
Other General and Administrative
23.78M
Prev Year: 34.48M
YoY: -31.0%
Salaries and Wages
57.92M
Prev Year: 53.62M
YoY: +8.0%
Cost of Revenue
116.06M
Prev Year: 71.29M
YoY: +62.8%
Gross Profit
682.13M
Prev Year: 634.54M
YoY: +7.5%
Operating Expense
89.97M
Prev Year: 95.40M
YoY: -5.7%
Selling General and Administrative
81.70M
Prev Year: 88.10M
YoY: -7.3%
General and Administrative Expense
81.70M
Prev Year: 88.10M
YoY: -7.3%
Operating Income
592.16M
Prev Year: 539.14M
YoY: +9.8%
Net Non Operating Interest Income Expense
17.28M
Prev Year: 32.14M
YoY: -46.2%
Non-operating Interest Income
17.97M
Prev Year: 32.14M
YoY: -44.1%
Non-operating Interest Expense
690.0K
Other Non-operating Income (expense)
888.0K
Prev Year: 7.54M
YoY: -88.2%
Pre-tax Income
610.33M
Prev Year: 578.82M
YoY: +5.4%
Provision for Income Taxes
128.95M
Prev Year: 124.86M
YoY: +3.3%
Net Income Common Stockholders
481.38M
Prev Year: 453.96M
YoY: +6.0%
Net Income
481.38M
Prev Year: 453.96M
YoY: +6.0%
Net Income Including Non-Controlling Interests
481.38M
Prev Year: 453.96M
YoY: +6.0%
Net Income from Continuing Operations
481.38M
Prev Year: 453.96M
YoY: +6.0%
Diluted NI Available to Com Stockholders
481.38M
Prev Year: 453.96M
YoY: +6.0%
Total Operating Income as Reported
592.16M
Prev Year: 539.14M
YoY: +9.8%
Total Expenses
206.03M
Prev Year: 166.69M
YoY: +23.6%
Net Income from Continuing and Discontinued Operation
481.38M
Prev Year: 453.96M
YoY: +6.0%
Normalized Income
481.38M
Prev Year: 453.96M
YoY: +6.0%
Weighted Average Shares (basic)
-
Prev Year: 22.99M
Interest Income
17.97M
Prev Year: 32.14M
YoY: -44.1%
Interest Expense
690.0K
Net Interest Income
17.28M
Prev Year: 32.14M
YoY: -46.2%
EBIT
611.02M
Prev Year: 539.14M
YoY: +13.3%
EBITDA
673.55M
Prev Year: 564.30M
YoY: +19.4%
Reconciled Cost of Revenue
116.06M
Prev Year: 71.29M
YoY: +62.8%
Reconciled Depreciation
62.53M
Prev Year: 25.16M
YoY: +148.5%
Net Income from Continuing Operation Net Minority Interest
481.38M
Prev Year: 453.96M
YoY: +6.0%
Normalized EBITDA
673.55M
Prev Year: 564.30M
YoY: +19.4%
Tax Rate for Calcs
0.211
Prev Year: 0
Weighted Average Shares (diluted)
69.03M
Prev Year: 23.02M
YoY: +199.9%
Values in USD

Texas Pacific Land key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$798.2M$705.8M$631.6M$667.4M$451.0M
Gross profit$682.1M$634.5M$583.3M$634.6M$421.5M
Operating income$592.2M$539.1M$486.1M$562.3M$362.4M
Net income$481.4M$454.0M$405.6M$446.4M$270.0M
Diluted EPS$6.97$19.72$17.59$19.26$11.61
Total assets$1.6B$1.2B$1.2B$877.4M$764.1M
Total liabilities$164.4M$115.6M$113.2M$104.5M$112.4M
Shareholders' equity$1.5B$1.1B$1.0B$772.9M$651.7M
Cash and short-term investments$144.8M$369.8M$725.2M$510.8M$428.2M
Total debt$16.2M$453,000$1.2M$2.0M$1.4M
Operating cash flow$545.9M$490.7M$418.3M$447.1M$265.2M
Capital spending$513.8M$425.3M$40.0M$20.9M$15.5M
Free cash flow$32.1M$65.4M$378.3M$426.3M$249.6M

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Texas Pacific Land's revenue in fiscal year 2025?

$798.19 million, up 13.1% from $705.82 million in fiscal year 2024.

How much profit does Texas Pacific Land make?

Texas Pacific Land reported net income of $481.38 million for fiscal year 2025 (60.3% of revenue); operating income was $592.16 million.

How much cash and debt does Texas Pacific Land have?

At the end of fiscal year 2025: cash and short-term investments of $144.81 million and total debt of $16.18 million.

What is Texas Pacific Land's free cash flow?

$32.14 million in fiscal year 2025 (operating cash flow of $545.91 million minus capital spending of $513.78 million).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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