InsiderClue
Stocks · Financials · Oil Royalty Traders

Texas Pacific Land Corporation

TPL Clue Score69
United States Fiscal year ends December CIK 0001811074
$360.98 +0.89% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $360.98 −69.87% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue300.2Operating income260.8Net income209.7Fiscal year 2019Revenue490.5 +63.4%Operating income399.6Net income318.7 +52.0%EPS, diluted41.09Fiscal year 2020Revenue302.6 −38.3%Operating income217.3Net income176.0 −44.8%EPS, diluted22.70Fiscal year 2021Revenue451.0 +49.0%Operating income362.4Net income270.0 +53.4%EPS, diluted34.83Fiscal year 2022Revenue667.4 +48.0%Operating income562.3Net income446.4 +65.3%EPS, diluted19.26Fiscal year 2023Revenue631.6 −5.4%Operating income486.1Net income405.6 −9.1%EPS, diluted5.86Fiscal year 2024Revenue705.8 +11.8%Operating income539.1Net income454.0 +11.9%EPS, diluted6.57Fiscal year 2025Revenue798.2 +13.1%Operating income592.2Net income481.4 +6.0%EPS, diluted6.97
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 300.2 490.5 302.6 451.0 667.4 631.6 705.8 798.2
Growth +63.4% −38.3% +49.0% +48.0% −5.4% +11.8% +13.1%
Operating income 260.8 399.6 217.3 362.4 562.3 486.1 539.1 592.2
Net income 209.7 318.7 176.0 270.0 446.4 405.6 454.0 481.4
Growth +52.0% −44.8% +53.4% +65.3% −9.1% +11.9% +6.0%
EPS, diluted n/a 41.09 22.70 34.83 19.26 5.86 6.57 6.97

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2018Operating margin86.9%Net margin69.9%Free cash flow margin49.2%Fiscal year 2019Operating margin81.5%Net margin65.0%Free cash flow margin63.3%Fiscal year 2020Operating margin71.8%Net margin58.2%Free cash flow margin66.7%Fiscal year 2021Operating margin80.4%Net margin59.9%Free cash flow margin55.2%Fiscal year 2022Operating margin84.3%Net margin66.9%Free cash flow margin64.2%Fiscal year 2023Operating margin77.0%Net margin64.2%Fiscal year 2024Operating margin76.4%Net margin64.3%Fiscal year 2025Operating margin74.2%Net margin60.3%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 86.9% 81.5% 71.8% 80.4% 84.3% 77.0% 76.4% 74.2%
Net margin 69.9% 65.0% 58.2% 59.9% 66.9% 64.2% 64.3% 60.3%
Free cash flow margin 49.2% 63.3% 66.7% 55.2% 64.2% n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow195.4Capital expenditure−47.9Free cash flow147.6Buybacks−38.4Dividends paid−31.7Fiscal year 2019Operating cash flow342.8Capital expenditure−32.2Free cash flow310.6 +110.5%Buybacks−4.4Dividends paid−46.5Fiscal year 2020Operating cash flow207.0Capital expenditure−5.1Free cash flow202.0 −35.0%Buybacks0.0Dividends paid−201.7Fiscal year 2021Operating cash flow265.2Capital expenditure−16.4Free cash flow248.7 +23.2%Buybacks−19.7Dividends paid−85.3Fiscal year 2022Operating cash flow447.1Capital expenditure−19.0Free cash flow428.2 +72.1%Buybacks−87.8Dividends paid−247.3Fiscal year 2023Operating cash flow418.3Buybacks−42.6Dividends paid−100.0Fiscal year 2024Operating cash flow490.7Buybacks−29.2Dividends paid−347.3Fiscal year 2025Operating cash flow545.9Buybacks−8.4Dividends paid−147.8
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 195.4 342.8 207.0 265.2 447.1 418.3 490.7 545.9
Capital expenditure −47.9 −32.2 −5.1 −16.4 −19.0 n/a n/a n/a
Free cash flow 147.6 310.6 202.0 248.7 428.2 n/a n/a n/a
Growth +110.5% −35.0% +23.2% +72.1%
Buybacks −38.4 −4.4 0.0 −19.7 −87.8 −42.6 −29.2 −8.4
Dividends paid −31.7 −46.5 −201.7 −85.3 −247.3 −100.0 −347.3 −147.8

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2018Cash123.4Shareholders’ equity244.7Fiscal year 2019Cash303.6Shareholders’ equity512.1Fiscal year 2020Cash281.0Shareholders’ equity485.2Fiscal year 2021Cash428.2Shareholders’ equity651.7Fiscal year 2022Cash510.8Shareholders’ equity772.9Fiscal year 2023Cash725.2Shareholders’ equity1,043.2Fiscal year 2024Cash369.8Shareholders’ equity1,132.5Fiscal year 2025Cash144.8Shareholders’ equity1,458.9
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 123.4 303.6 281.0 428.2 510.8 725.2 369.8 144.8
Shareholders’ equity 244.7 512.1 485.2 651.7 772.9 1,043.2 1,132.5 1,458.9

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022† 31 Dec 2022 FY2023† 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
300.2 490.5 302.6 451.0 667.4 631.6 705.8 798.2
Growth +63.4% −38.3% +49.0% +48.0% −5.4% +11.8% +13.1%
4.7 9.5 9.8 11.6 22.0 46.5 34.5 23.8
260.8 399.6 217.3 362.4 562.3 486.1 539.1 592.2
Growth +53.2% −45.6% +66.8% +55.2% −13.6% +10.9% +9.8%
261.8 402.3 219.7 363.0 568.9 517.6 578.8 610.3
52.0 83.5 43.6 93.0 122.5 111.9 124.9 129.0
209.7 318.7 176.0 270.0 446.4 405.6 454.0 481.4
Growth +52.0% −44.8% +53.4% +65.3% −9.1% +11.9% +6.0%
Per share
n/a 41.09 22.70 34.83 19.27 5.87 6.58 6.98
n/a 41.09 22.70 34.83 19.26 5.86 6.57 6.97
Growth −44.8% +53.4% −44.7% −69.6% +12.1% +6.1%
n/a 7.8 7.8 7.8 23.2 69.1 69.0 68.9
7.8 7.8 7.8 7.8 23.2 69.2 69.1 69.0
Growth −0.4% −0.0% −0.1% +199.0% +198.4% −0.2% −0.0%

† The diluted share count jumps at 2022 and 2023, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 21.4% a year over five years.
  • Operating margin is up 2.4 points on five years ago, at 74.2%.
  • Profitable in every one of the 8 years on file.