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NYSE · Energy

Texas Pacific Land Corp (TPL)

As-reported financials and SEC filings for Texas Pacific Land Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. 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%
net income / fiscal-year-end equity
P/E
48.8×
trailing when available, otherwise FY EPS
Market cap
$26.34B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and 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 Q2 FY2026: revenue $246M, up 31.2% from Q2 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/E48.8×
87th percentile of 85
Short interest9.60d
92nd 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.

61 reported insider purchases (code P) totaling $24,613 in the last 90 days. For context, about 14% of companies in the universe saw any reported insider purchase (code P) 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; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+5 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
2
2 trimmed, 0 exited
Combined position
$212.3M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$123.7M282.6KAdded
Citadel AdvisorsquantQ2 2026$59.3M135.6KAdded
Gotham Asset ManagementQ2 2026$15.7M35.9KReduced
Two Sigma InvestmentsquantQ2 2026$11.8M26.9KAdded
D. E. ShawquantQ2 2026$1.2M2.8KAdded
Millennium ManagementquantQ2 2026$503,7241.2KReduced

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)
61
2 insiders
Bought (90d)
$25K
code P value
Sells (90d)
0
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-09-04
filed 2026-09-08
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$360.03$360
2026-09-03
filed 2026-09-04
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$367.61$368
2026-09-02
filed 2026-09-03
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$363.20$363
2026-09-01
filed 2026-09-02
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$369.10$369
2026-08-31
filed 2026-09-01
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$369.47$369
2026-08-28
filed 2026-08-31
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$364.42$364
2026-08-27
filed 2026-08-28
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$365.74$366
2026-08-26
filed 2026-08-27
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$375.00$375
2026-08-25
filed 2026-08-26
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$372.58$373
2026-08-24
filed 2026-08-25
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$377.39$377
2026-08-21
filed 2026-08-24
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$381.51$382
2026-08-20
filed 2026-08-21
HORIZON KINETICS ASSET MANAGEMENT LLC10% ownerBuy1$377.85$378

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
4.4M
settled 2026-08-14
Change vs prior
+1.2%
vs previous settlement
Days to cover
9.60
at avg daily volume
Avg daily volume
453.3K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-144.4M+1.2%9.60
2026-07-314.3M+0.3%15.77
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

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 details: where the numbers come from.

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 details: where the numbers come from.

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 details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$246.1M31.2%$153.9M$2.23
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$1.68
Q1 FY2025$196.0M12.5%$120.7M$1.75
Q4 FY2024$185.8M11.5%$118.4M
Q3 FY2024$173.6M9.9%$106.6M

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

Company facts

ExchangeNYSE
SectorEnergy
SIC industryOil Royalty Traders
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2023
SEC CIK1811074

Selected SEC filings

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

Largest Energy peers

All Energy companies →

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