Texas Pacific Ld Financials
This page shows Texas Pacific Ld (TPL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Texas Pacific Land’s dominant business mechanic is an asset-light cash machine that compounds earnings while staying largely unlevered.
Cash fell from$725.2M in FY2023 to$144.8M in FY2025. Because operating cash flow still ran ahead of net income in FY2025, that drop looks more like active balance-sheet use than deterioration in the core earnings engine, meaning liquidity was spent rather than profits failing to show up in cash.
FY2025 revenue of
The balance sheet is still conservative: total liabilities were only
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Texas Pacific Ld's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Texas Pacific Ld scores 110.40, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($29.4B) relative to total liabilities ($164.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Texas Pacific Ld passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Texas Pacific Ld generates $1.13 in operating cash flow ($545.9M OCF vs $481.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Texas Pacific Ld earns $858.2 in operating income for every $1 of interest expense ($592.2M vs $690K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Texas Pacific Ld generated $798.2M in revenue in fiscal year 2025. This represents an increase of 13.1% from the prior year.
Texas Pacific Ld's EBITDA was $654.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 16.0% from the prior year.
Texas Pacific Ld reported $481.4M in net income in fiscal year 2025. This represents an increase of 6.0% from the prior year.
Texas Pacific Ld earned $6.97 per diluted share (EPS) in fiscal year 2025. This represents an increase of 6.1% from the prior year.
Cash & Balance Sheet
Texas Pacific Ld held $144.8M in cash against $0 in long-term debt as of fiscal year 2025.
Texas Pacific Ld paid $2.13 per share in dividends in fiscal year 2025.
Texas Pacific Ld had 69M shares outstanding in fiscal year 2025. This represents an increase of 199.9% from the prior year.
Margins & Returns
Texas Pacific Ld's operating margin was 74.2% in fiscal year 2025, reflecting core business profitability. This is down 2.2 percentage points from the prior year.
Texas Pacific Ld's net profit margin was 60.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.0 percentage points from the prior year.
Texas Pacific Ld's ROE was 33.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 7.1 percentage points from the prior year.
Capital Allocation
Texas Pacific Ld spent $8.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 71.3% from the prior year.
TPL Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $236.8M+11.9% | $211.6M+4.2% | $203.1M+8.3% | $187.5M-4.3% | $196.0M+5.5% | $185.8M+7.0% | $173.6M+0.7% | $172.3M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $8.6M+34.4% | $6.4M+14.9% | $5.6M-1.8% | $5.7M-6.2% | $6.1M-10.1% | $6.8M-46.1% | $12.5M+109.4% | $6.0M |
| Operating Income | $182.3M+22.2% | $149.2M+0.1% | $149.1M+3.7% | $143.8M-4.2% | $150.1M+5.3% | $142.5M+11.9% | $127.3M-4.4% | $133.2M |
| Interest Expense | $992K | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Income Tax | $40.7M+43.1% | $28.4M-16.3% | $33.9M+3.3% | $32.9M-2.6% | $33.7M+3.4% | $32.6M+13.2% | $28.8M-9.5% | $31.9M |
| Net Income | $142.9M+15.9% | $123.3M+1.7% | $121.2M+4.4% | $116.1M-3.7% | $120.7M+1.9% | $118.4M+11.0% | $106.6M-7.0% | $114.6M |
| EPS (Diluted) | $2.07 | N/A | $5.27+4.4% | $5.05+188.6% | $1.75 | N/A | $4.63-7.0% | $4.98 |
TPL Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.8B+7.9% | $1.6B+6.5% | $1.5B+8.6% | $1.4B+3.8% | $1.4B+8.4% | $1.2B+6.2% | $1.2B-10.7% | $1.3B |
| Current Assets | $435.1M+36.3% | $319.3M-56.7% | $737.2M+10.4% | $667.5M+10.0% | $606.9M+20.6% | $503.4M-29.0% | $709.0M-30.3% | $1.0B |
| Cash & Equivalents | $247.6M+71.0% | $144.8M-72.8% | $531.8M-2.2% | $543.9M+18.1% | $460.4M+24.5% | $369.8M-30.7% | $533.9M-40.3% | $894.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $195.5M+18.9% | $164.4M+4.7% | $156.9M+35.6% | $115.7M-21.3% | $147.0M+27.2% | $115.6M-6.4% | $123.4M+12.9% | $109.4M |
| Current Liabilities | $102.9M+41.8% | $72.6M+6.9% | $67.9M+50.5% | $45.1M-42.0% | $77.9M+67.2% | $46.6M-18.8% | $57.3M+29.5% | $44.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.6B+6.7% | $1.5B+6.6% | $1.4B+6.1% | $1.3B+6.9% | $1.2B+6.5% | $1.1B+7.6% | $1.1B-12.8% | $1.2B |
| Retained Earnings | $1.7B+5.4% | $1.6B+5.7% | $1.5B+5.9% | $1.4B+5.9% | $1.3B+5.3% | $1.3B+6.8% | $1.2B-11.2% | $1.3B |
TPL Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $162.0M+42.5% | $113.7M-26.5% | $154.6M+27.9% | $120.9M-22.9% | $156.7M+23.8% | $126.6M+6.8% | $118.6M+20.6% | $98.3M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$8.4M+98.2% | -$458.2M-278.2% | -$121.2M-2980.5% | -$3.9M+68.6% | -$12.5M+94.9% | -$246.0M-13.8% | -$216.1M-2816.5% | -$7.4M |
| Financing Cash Flow | -$50.9M-21.6% | -$41.8M+8.2% | -$45.6M-23.7% | -$36.8M+28.9% | -$51.8M-20.1% | -$43.1M+83.6% | -$263.2M-691.1% | -$33.3M |
| Dividends Paid | $41.8M+13.7% | $36.8M-0.1% | $36.8M+0.1% | $36.8M-1.7% | $37.4M+1.8% | $36.8M-85.7% | $256.7M+854.7% | $26.9M |
| Share Buybacks | $0 | $0-100.0% | $8.3M | $0-100.0% | $100K-98.4% | $6.4M+4.8% | $6.1M-4.8% | $6.4M |
TPL Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 77.0%+6.5pp | 70.5%-2.9pp | 73.4%-3.2pp | 76.6%+0.1pp | 76.6%-0.2pp | 76.7%+3.4pp | 73.4%-3.9pp | 77.3% |
| Net Margin | 60.3%+2.0pp | 58.3%-1.4pp | 59.7%-2.2pp | 61.9%+0.4pp | 61.6%-2.1pp | 63.7%+2.3pp | 61.4%-5.1pp | 66.5% |
| Return on Equity | 9.2%+0.7pp | 8.5%-0.4pp | 8.9%-0.2pp | 9.0%-1.0pp | 10.0%-0.4pp | 10.4%+0.3pp | 10.1%+0.6pp | 9.5% |
| Return on Assets | 8.2%+0.6pp | 7.6%-0.4pp | 8.0%-0.3pp | 8.3%-0.7pp | 8.9%-0.6pp | 9.5%+0.4pp | 9.1%+0.4pp | 8.7% |
| Current Ratio | 4.23-0.2 | 4.40-6.5 | 10.86-3.9 | 14.79+7.0 | 7.80-3.0 | 10.81-1.6 | 12.37-10.6 | 22.99 |
| Debt-to-Equity | 0.13+0.0 | 0.110.0 | 0.11+0.0 | 0.09-0.0 | 0.12+0.0 | 0.10-0.0 | 0.12+0.0 | 0.09 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Texas Pacific Ld's annual revenue?
Texas Pacific Ld (TPL) reported $798.2M in total revenue for fiscal year 2025. This represents a 13.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Texas Pacific Ld's revenue growing?
Texas Pacific Ld (TPL) revenue grew by 13.1% year-over-year, from $705.8M to $798.2M in fiscal year 2025.
Is Texas Pacific Ld profitable?
Yes, Texas Pacific Ld (TPL) reported a net income of $481.4M in fiscal year 2025, with a net profit margin of 60.3%.
What is Texas Pacific Ld's EBITDA?
Texas Pacific Ld (TPL) had EBITDA of $654.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Texas Pacific Ld's operating margin?
Texas Pacific Ld (TPL) had an operating margin of 74.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Texas Pacific Ld's net profit margin?
Texas Pacific Ld (TPL) had a net profit margin of 60.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Texas Pacific Ld pay dividends?
Yes, Texas Pacific Ld (TPL) paid $2.13 per share in dividends during fiscal year 2025.
What is Texas Pacific Ld's return on equity (ROE)?
Texas Pacific Ld (TPL) has a return on equity of 33.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Texas Pacific Ld's operating cash flow?
Texas Pacific Ld (TPL) generated $545.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Texas Pacific Ld's total assets?
Texas Pacific Ld (TPL) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Texas Pacific Ld's current ratio?
Texas Pacific Ld (TPL) had a current ratio of 4.40 as of fiscal year 2025, which is generally considered healthy.
What is Texas Pacific Ld's debt-to-equity ratio?
Texas Pacific Ld (TPL) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Texas Pacific Ld's return on assets (ROA)?
Texas Pacific Ld (TPL) had a return on assets of 29.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Texas Pacific Ld's Altman Z-Score?
Texas Pacific Ld (TPL) has an Altman Z-Score of 110.40, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Texas Pacific Ld's Piotroski F-Score?
Texas Pacific Ld (TPL) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Texas Pacific Ld's earnings high quality?
Texas Pacific Ld (TPL) has an earnings quality ratio of 1.13x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Texas Pacific Ld cover its interest payments?
Texas Pacific Ld (TPL) has an interest coverage ratio of 858.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Texas Pacific Ld?
Texas Pacific Ld (TPL) scores 73 out of 100 on our Financial Health Score, indicating strong standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.