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NYSE · Energy

Texas Pacific Land Corp (TPL)

As-reported financials and recent SEC filings for Texas Pacific Land Corp, latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Texas Pacific Land Corp

Texas Pacific Land Corp is one of the largest landowners in Texas, managing approximately 882,000 surface acres primarily in the Permian Basin. The company generates revenue through oil and gas royalty interests, easements for pipelines and utilities, commercial leases, and sales of materials like caliche and sand used in oil and gas infrastructure. It also operates a water services segment and explores opportunities in renewable energy and data center infrastructure on its land.

Snapshot

Revenue
$798.2M
Revenue growth (YoY)
13.1%
Net income
$481.4M
Diluted EPS
$6.97
Gross margin
Operating margin
74.2%
Net margin
60.3%
FCF margin
ROE
33.0%
P/E (TTM)
54.3×
Market cap
$27.36B
Debt / equity

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at Texas Pacific Land

  • Revenue grew 13.1% to $798M in FY2025, in line with the 11.8% the year before.
  • Operating margin is 74.2% in FY2025, -6.2 pp against 80.4% in FY2021.
  • Most recent quarter Q1 FY2026: revenue $237M, up 20.8% from Q1 FY2025.
  • Net income rose 6.0% to $481M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Texas Pacific Land’s fundamentals sit among the 125 Energy companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin74.2%
Highest of 104
Net margin60.3%
99th percentile of 120
Revenue growth (YoY)+13.1%
73rd percentile of 122
ROE33.0%
95th percentile of 100
P/E (TTM)54.3×
83rd percentile of 85
Short interest13.17d
97th percentile of 123

Texas Pacific Land’s operating margin of 74.2% is the highest of the 104 Energy companies reporting it. Texas Pacific Land’s net margin of 60.3% ranks in the 99th percentile of the 120 Energy companies reporting it. Texas Pacific Land’s return on equity of 33.0% ranks in the 95th percentile of the 100 Energy companies reporting it.

59 open-market insider buys totaling $25,493 in the last 90 days, against 3 sales totaling $1.6M. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
1
+5 quant / multi-strat
Initiated / added
1
0 new, 1 added
Reduced / exited
6
5 trimmed, 1 exited
Combined position
$74.4M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ1 2026$31.2M65.7KReduced
Gotham Asset ManagementQ1 2026$17.9M37.7KReduced
Citadel AdvisorsquantQ1 2026$12.0M25.3KReduced
Two Sigma InvestmentsquantQ1 2026$7.2M15.3KReduced
Millennium ManagementquantQ1 2026$5.6M11.8KAdded
D. E. ShawquantQ1 2026$532,9311.1KReduced

No longer held by: Renaissance Technologies (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
59
2 insiders
Bought (90d)
$25K
open-market value
Sells (90d)
3
$1.6M
Signal
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-07-24
filed 2026-07-27
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$423.94$424
2026-07-23
filed 2026-07-24
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$429.51$430
2026-07-22
filed 2026-07-23
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$427.42$427
2026-07-21
filed 2026-07-22
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$413.48$413
2026-07-20
filed 2026-07-21
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$416.47$416
2026-07-17
filed 2026-07-20
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$420.15$420
2026-07-16
filed 2026-07-17
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$416.05$416
2026-07-15
filed 2026-07-16
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$414.13$414
2026-07-14
filed 2026-07-15
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$408.37$408
2026-07-13
filed 2026-07-14
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$411.10$411
2026-07-10
filed 2026-07-13
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$385.84$386
2026-07-09
filed 2026-07-10
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$400.13$400

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
4.3M
settled 2026-07-15
Change vs prior
+6.3%
vs previous settlement
Days to cover
13.17
at avg daily volume
Avg daily volume
325.6K
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-154.3M+6.3%13.17
2026-06-304.0M+2.8%7.63
2026-06-153.9M-12.6%9.66
2026-05-294.5M+7.1%9.56
2026-05-154.2M+0.5%10.31
2026-04-304.2M-1.1%12.43
2026-04-154.2M+8.7%6.62
2026-03-313.9M-5.9%7.61

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$798.2M$705.8M$631.6M$667.4M$451.0M
Gross profit
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$6.57$5.86$6.42$3.87

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$144.8M$369.8M$725.2M$510.8M$428.2M
Current assets$319.3M$503.4M$862.5M$633.4M$526.5M
Total assets$1.62B$1.25B$1.16B$877.4M$764.1M
Current liabilities$72.6M$46.6M$44.4M$39.6M$50.9M
Long-term debt
Total liabilities$164.4M$115.6M$113.2M$104.5M$112.4M
Total equity$1.46B$1.13B$1.04B$772.9M$651.7M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$545.9M$490.7M$418.3M$447.1M$265.2M
Capital expenditure$19.0M$16.4M
Free cash flow$428.2M$248.7M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$236.8M20.8%$142.9M$2.07
Q4 FY2025$211.6M13.9%$123.3M
Q3 FY2025$203.1M17.0%$121.2M
Q2 FY2025$187.5M8.8%$116.1M
Q1 FY2025$196.0M12.5%$120.7M$1.75
Q4 FY2024$185.8M11.5%$118.4M
Q3 FY2024$173.6M9.9%$106.6M
Q2 FY2024$172.3M7.3%$114.6M

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorEnergy
SIC industryOil Royalty Traders
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2023
SEC CIK1811074

Recent SEC filings

10-K2026-02-18
View on EDGAR →
10-K2025-02-19
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
10-Q2025-11-05
View on EDGAR →
10-Q2025-08-06
View on EDGAR →
10-Q2025-05-07
View on EDGAR →
8-K2026-06-23
View on EDGAR →
8-K2026-05-18
View on EDGAR →

Largest Energy peers

All Energy companies →

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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.