Texas Pacific Land Corp

TPL 10-K · FY 2025
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TPL FY 2025 request

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Income Statement

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Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 798,190 705,823 +13.1%
Show Product Lines breakouts
Easements and other surface-related income 91,775 73,257 +25.3%
Easements and other surface-related income · LRM 78,230 63,074 +24.0%
Easements and other surface-related income · WSO 13,545 10,183 +33.0%
Land sales 819 4,388 -81.3%
Land sales · LRM 819 4,388 -81.3%
Oil and gas royalties 411,677 373,331 +10.3%
Oil and gas royalties · LRM 411,677 373,331 +10.3%
Produced water royalties 124,218 104,123 +19.3%
Produced water royalties · WSO 124,218 104,123 +19.3%
Water sales 169,701 150,724 +12.6%
Water sales · WSO 169,701 150,724 +12.6%
Show Business Segments breakouts
LRM · Operating Segments 490,726 440,793 +11.3%
WSO · Operating Segments 307,464 265,030 +16.0%
Labor And Related Expense 57,925 53,621 +8.0%
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LRM 29,184 27,493 +6.2%
WSO 28,741 26,128 +10.0%
Water Production Costs 53,528 46,124 +16.1%
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WSO 53,528 46,124 +16.1%
General & Administrative 23,780 34,483 -31.0%
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LRM 14,358 25,531 -43.8%
WSO 9,422 8,952 +5.3%
Depreciation & Amortization 62,533 25,162 +148.5%
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LRM 44,555 10,968 +306.2%
WSO 17,978 14,194 +26.7%
Taxes Excluding Income And Excise Taxes 8,263 7,295 +13.3%
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LRM 8,218 7,257 +13.2%
WSO 45 38 +18.4%
Total Costs & Expenses 206,029 166,685 +23.6%
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LRM 96,315 71,249 +35.2%
WSO 109,714 95,436 +15.0%
Operating Income 592,161 539,138 +9.8%
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LRM 394,411 369,544 +6.7%
WSO 197,750 169,594 +16.6%
Interest Expense -690 — —
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LRM -552 — —
WSO -138 — —
Non-Operating Income (Expense) 18,858 39,683 -52.5%
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LRM 14,926 31,707 -52.9%
WSO 3,932 7,976 -50.7%
Income Before Taxes 610,329 578,821 +5.4%
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LRM 408,785 401,251 +1.9%
WSO 201,544 177,570 +13.5%
Current Income Tax Expense Benefit 122,398 120,257 +1.8%
Deferred Income Taxes 6,555 4,604 +42.4%
Income Tax Expense (Benefit) 128,953 124,861 +3.3%
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LRM 86,370 86,350 0.0%
WSO 42,583 38,511 +10.6%
Net Income 481,376 453,960 +6.0%
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LRM 322,415 314,901 +2.4%
WSO 158,961 139,059 +14.3%
Show Equity Components breakouts
Retained Earnings 481,376 453,960 +6.0%
Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax -156 -684 +77.2%
Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax 723 2,436 -70.3%
Other Comprehensive Income 567 1,752 -67.6%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 567 1,752 -67.6%
Comprehensive Income 481,943 455,712 +5.8%
EPS (Basic) 6.98 6.58 +6.1%
EPS (Diluted) 6.97 6.57 +6.1%
Wtd Avg Shares (Basic) 68,949,240 68,958,591 -0.0%
Wtd Avg Shares (Diluted) 69,027,492 69,059,252 -0.0%
Other Non-Operating Income (Expense) 15 2,352 -99.4%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 144,809 369,835 -60.8%
Prepaid Expenses & Other Current Assets 5,295 5,318 -0.4%
Total Current Assets 319,320 503,369 -36.6%
Non-Current Assets
Property, Plant & Equipment 164,538 122,578 +34.2%
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LRM 7,336 4,805 +52.7%
WSO 157,202 117,773 +33.5%
Operating Lease Right-of-Use Assets 13,683 1,163 +1076.5%
Show Geography breakouts
TX 13.7 1.2 +1041.7%
Total Assets 1,623,278 1,248,020 +30.1%
Show Business Segments breakouts
LRM 1,332,180 1,024,188 +30.1%
WSO 291,098 223,832 +30.1%
Intangible Assets 32,846 35,188 -6.7%
Other Assets
Other Receivables 164,905 126,670 +30.2%
Show Product Lines breakouts
Oil and gas royalties 61.3 60.7 +1.0%
Escrow Deposit 595 1,546 -61.5%
Prepaid Taxes 3,716 — —
Total Royalty Interests 840,024 432,401 +94.3%
Real Estate Gross At Carrying Value 179,129 143,178 +25.1%
Intangible Assets Net Excluding Goodwill 32,846 35,188 -6.7%
Equity Securities Fv Ni Cost 50,000 — —
Other Assets 23,738 10,143 +134.0%
Current Liabilities
Accounts Payable And Accrued Liabilities Current 39,578 26,958 +46.8%
Accrual For Taxes Other Than Income Taxes Current 8,912 8,418 +5.9%
Accrued Income Taxes Current 4,007 4,388 -8.7%
Deferred Revenue (Current) 20,107 6,797 +195.8%
Total Current Liabilities 72,604 46,561 +55.9%
Non-Current Liabilities
Deferred Tax Liabilities 54,107 47,401 +14.1%
Contract With Customer Liability Noncurrent 21,072 20,636 +2.1%
Operating Lease Liabilities 16,175 453 +3470.6%
Accrued Liabilities Current And Noncurrent 413 504 -18.1%
Total Liabilities 164,371 115,555 +42.2%
Stockholders' Equity
Common Stock 691 231 +199.1%
Treasury Stock Common Value -151,242 -168,843 +10.4%
Additional Paid-In Capital 9,906 19,900 -50.2%
Accumulated Other Comprehensive Income 4,150 3,583 +15.8%
Retained Earnings 1,595,402 1,277,594 +24.9%
Total Stockholders' Equity 1,458,907 1,132,465 +28.8%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 4,150 3,583 +15.8%
Additional Paid In Capital 9,906 19,900 -50.2%
Common Stock 691 231 +199.1%
Retained Earnings 1,595,402 1,277,594 +24.9%
Treasury Stock Common -151,242 -168,843 +10.4%
Total Liabilities & Equity 1,623,278 1,248,020 +30.1%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Amortization of Financing Costs 211 — —
Show Debt Instrument breakouts
Credit Facility · Revolving Credit Facility 0.2 — —
Stock-Based Compensation 15,131 12,498 +21.1%
Increase Decrease In Deferred Income Taxes 6,555 4,604 +42.4%
Increase Decrease In Other Operating Assets -52,933 -610 -8577.5%
Increase Decrease In Prepaid Taxes -3,716 — —
Increase Decrease In Accrued Income Taxes Payable -381 -407 +6.4%
Change in Deferred Revenue 13,746 -3,903 +452.2%
Increase Decrease In Other Operating Liabilities 22,894 6,327 +261.8%
Increase Decrease In Accrued Taxes Other Than Income Taxes 494 -2,343 +121.1%
Net Cash from Operations 545,910 490,672 +11.3%
Investing Activities
Payments To Acquire Royalty Interests In Mining Properties -454,244 -395,577 -14.8%
Payments To Acquire Equity Method Investments -50,000 — —
Payments To Acquire Real Estate -35,951 -1,476 -2335.7%
Payments To Acquire Equipment And Other Acquisition Of Real Estate -59,531 -29,696 -100.5%
Proceeds From Previous Acquisition 3,878 — —
Net Cash from Investing -595,848 -471,749 -26.3%
Financing Activities
Payments Of Dividends -147,798 -347,309 +57.4%
Tax Withholding for Share Compensation -14,795 -1,623 -811.6%
Share Repurchases -8,380 -29,159 +71.3%
Debt Issuance Costs -5,066 — —
Net Cash from Financing -176,039 -378,091 +53.4%
Supplemental
Income Taxes Paid 126,955 120,669 +5.2%
Other Cash Flow
Net Change in Cash -225,977 -359,168 +37.1%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 145,404 371,381 -60.8%
Decrease Increase In Accounts Payable Related To Capital Expenditures 6,417 -273 +2450.5%
Noncash Or Part Noncash Increase Decrease In Accrued Dividends On Unvested Stock Awards -309 730 -142.3%
Noncash Or Part Noncash Acquisition Operating Lease Right Of Use Assets 13,593 — —

Values in thousands USD. Source: SEC EDGAR 10-K filing.

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