TPL Financials Texas Pacific Land Corporation

8 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 28 h ago Overview →

Growth & profitability

Revenue has grown 21.4% per year over the past 5 years.
Net income has grown faster than revenue (22.3% vs 21.4% per year).
Operating margin has expanded, at 74.2% in the latest year.
Free cash flow has grown 30.5% per year over the past 5 years.

Financial health

Operating income covered interest expense 858× in the latest year.

Shareholder returns

Dividends have been paid for 8 consecutive years, consuming 30.7% of earnings.
The dividend has declined 6.0% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$798M	$481M	0.0%	74.2%	—	—	$145M
2024	$706M	$454M	0.0%	76.4%	—	—	$370M
2023	$632M	$406M	0.0%	77.0%	—	—	$725M
2022	$667M	$446M	0.0%	84.3%	$428M	—	$511M
2021	$451M	$270M	0.0%	80.4%	$249M	—	$428M
2020	$303M	$176M	0.0%	71.8%	$202M	—	$281M
2019	$490M	$319M	0.0%	81.5%	$311M	—	$304M
2018	$300M	$210M	0.0%	86.9%	$148M	—	—

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Mar '26	$237M	$143M	0.0%	77.0%	—	—	$248M
Dec '25	$212M	$123M	0.0%	70.5%	—	—	$145M
Sep '25	$203M	$121M	0.0%	73.4%	—	—	$532M
Jun '25	$188M	$116M	0.0%	76.6%	—	—	$544M
Mar '25	$196M	$121M	0.0%	76.6%	—	—	$460M
Dec '24	$186M	$118M	0.0%	76.7%	—	—	$370M
Sep '24	$174M	$107M	0.0%	73.4%	—	—	$534M
Jun '24	$172M	$115M	0.0%	77.3%	—	—	$895M
Mar '24	$174M	$114M	0.0%	78.1%	—	—	$837M
Dec '23	$167M	$113M	0.0%	80.3%	—	—	$725M
Sep '23	$158M	$106M	0.0%	80.4%	$102M	—	$654M
Jun '23	$161M	$100M	0.0%	74.9%	$83M	—	$609M
Mar '23	$146M	$87M	0.0%	71.7%	$111M	—	$591M
Dec '22	$153M	$100M	0.0%	81.4%	$126M	—	$511M
Sep '22	$191M	$130M	0.0%	84.8%	$117M	—	$447M
Jun '22	$176M	$119M	0.0%	86.1%	$80M	—	$390M
Mar '22	$147M	$98M	0.0%	84.4%	$105M	—	$507M
Dec '21	$147M	$79M	0.0%	85.5%	$86M	—	$428M
Sep '21	$124M	$84M	0.0%	83.5%	$71M	—	$373M
Jun '21	$96M	$57M	0.0%	74.3%	$42M	—	$329M

Valuation over time

How the market has priced TPL against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 262.3× (Mar '23) to 56.0× (Jun '26).
The price-to-sales ratio has fallen from 175.4× (Mar '23) to 33.8× (Jun '26).
The dividend yield has risen from 0.2% (Mar '23) to 0.5% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is TPL growing its revenue and profit?

Over the past 5 years, Texas Pacific Land Corporation's revenue has grown 21.4% per year, and net income grown 22.3% per year. These are computed facts, not advice.

How much debt does TPL have?

As of FY2025, Texas Pacific Land Corporation reported — of total debt against $145M of cash; operating income covered interest expense 858×.

What is TPL's profit margin?

In FY2025, gross margin was —, operating margin 74.2%, and net margin 60.3%.

What is TPL's P/E ratio?

As of Jun '26, Texas Pacific Land Corporation traded at a price-to-earnings ratio of about 56.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.