← Texas Pacific Land Corp
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $300.2m |
$490.5m
+63.38%
|
$302.6m
-38.32%
|
$451.0m
+49.05%
|
$667.4m
+48.00%
|
$631.6m
-5.37%
|
$705.8m
+11.75%
|
$798.2m
+13.09%
|
|
| General and Administrative Expense | $4.7m | $9.5m | $9.8m | $11.8m | $13.3m | $14.9m | $34.5m | $23.8m | |
| Labor and Related Expense | $18.4m | $35.0m | $32.2m | $40.0m | $41.4m | $43.4m | $53.6m | $57.9m | |
| Amortization of Intangible Assets | — | — | — | — | — | $400k | $1.5m | $2.3m | |
| Operating Lease, Expense | — | $700k | $800k | $800k | $800k | $800k | $800k | $1.3m | |
| Operating expenses: | |||||||||
| Total operating expenses | $39.4m | $90.9m | $85.3m | $88.6m | $105.1m | $145.5m | $166.7m | $206.0m | |
| Operating Income (Loss) | $260.8m |
$399.6m
+53.19%
|
$217.3m
-45.63%
|
$362.4m
+66.81%
|
$562.3m
+55.16%
|
$486.1m
-13.56%
|
$539.1m
+10.92%
|
$592.2m
+9.83%
|
|
| Net actuarial gain (loss) on pension plan, net of income taxes of $192, $483, and $(157) as of December 31, 2025, 2024 and 2023, respectively | ($144k) | ($419k) | ($1.3m) | $1.6m | $3.5m | ($582k) | $2.4m | $723k | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | — | — | — | — | — | $752k | $0 | |
| Other Nonoperating Income (Expense) | — | — | — | — | — | $2.4m | $2.4m | $15k | |
| Interest Expense (non-operating) | — | — | — | — | — | $0 | $0 | $690k | |
| Other income, net | $916k | $2.7m | $2.4m | $624k | $6.5m | $31.5m | $39.7m | $18.9m | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $261.8m | $402.3m | $219.7m | $363.0m | $568.9m | $517.6m | $578.8m | $610.3m | |
| Current Income Tax Expense (Benefit) | $37.2m | $57.5m | $46.0m | $93.3m | $121.2m | $110.5m | $120.3m | $122.4m | |
| Real Estate Tax Expense | — | — | — | — | $8.7m | — | — | — | |
| Amortization of net actuarial costs, net of income taxes of $(41), $(182), and $(27) for the years ended December 31, 2025, 2024 and 2023, respectively | $50k | $36k | $53k | $114k | $32k | ($103k) | ($684k) | ($156k) | |
| Income Tax Expense (Benefit) | $52.0m | $83.5m | $43.6m | $93.0m | $122.5m | $111.9m | $124.9m | $129.0m | |
| Net Income (Loss) Attributable to Parent | $209.7m |
$318.7m
+51.97%
|
$176.0m
-44.77%
|
$270.0m
+53.36%
|
$446.4m
+65.33%
|
$405.6m
-9.12%
|
$454.0m
+11.91%
|
$481.4m
+6.04%
|
|
| Earnings Per Share, Basic | — | $0.51 | $0.28 | $0.43 | $0.71 | $0.65 | $2.19 | $6.98 | |
| Earnings Per Share, Diluted | $0.33 | $0.51 | $0.28 | $0.43 | $0.71 | $0.65 | $2.19 | $6.97 | |
| Weighted Average Number of Shares Outstanding, Basic | — | — | — | 627.9m | 625.5m | 622.2m | 206.9m | 68.9m | |
| Basic (in shares) | — | $7.8m | $7.8m | $7.8m | $7.7m | $7.7m | $23.0m | $68.9m | |
| Diluted (in shares) | $7.8m | $7.8m | $7.8m | $7.8m | $7.7m | $7.7m | $23.0m | $69.0m | |
| Weighted Average Number of Shares Outstanding, Diluted | — | 628.3m | 628.2m | 627.9m | 625.9m | 622.6m | 207.2m | 69.0m | |
| Additional Financial Items | |||||||||
| Taxes, Miscellaneous | — | — | — | — | — | $7.4m | $7.3m | $8.3m | |
| Water Production Costs | $11.2m | $20.8m | $14.2m | $13.2m | $17.5m | $33.6m | $46.1m | $53.5m | |
| Salaries and related employee expenses | $18.4m | $35.0m | $32.2m | $40.0m | $41.4m | $43.4m | $53.6m | $57.9m | |
| Water service-related expenses | $11.2m | $20.8m | $14.2m | $13.2m | $17.5m | $33.6m | $46.1m | $53.5m | |
| Depreciation, depletion and amortization | $2.6m | $8.9m | $14.4m | $16.3m | $15.4m | $14.8m | $25.2m | $62.5m | |
| Ad valorem and other taxes | — | — | — | $144k | $8.9m | $7.4m | $7.3m | $8.3m | |
| Deferred | $14.8m | $26.0m | ($2.4m) | ($228k) | $1.3m | $1.4m | $4.6m | $6.6m | |
| Total other comprehensive income (loss) | — | ($383k) | ($1.2m) | $1.7m | $3.5m | ($685k) | $1.8m | $567k | |
| Total comprehensive income | $209.6m | $318.3m | $174.8m | $271.7m | $449.9m | $405.0m | $455.7m | $481.9m |