Texas Pacific Land CorporationTPLEarnings & Financial Report
The Texas Pacific Land Corporation is a publicly traded real estate operating company with its administrative office in Dallas, Texas. Owning over 880,000 acres (3,600 km2) in 20 West Texas counties, TPL is among the largest private landowners in the state of Texas. It was previously organized as a publicly traded trust taxed as a corporation, and operated under the name Texas Pacific Land Trust.
TPL Q4 FY2025 Key Financial Metrics
Revenue
$211.6M
Gross Profit
N/A
Operating Profit
$149.2M
Net Profit
$123.3M
Gross Margin
N/A
Operating Margin
70.5%
Net Margin
58.3%
YoY Growth
13.9%
EPS
$-8.59
Texas Pacific Land Corporation Q4 FY2025 Financial Summary
Texas Pacific Land Corporation reported revenue of $211.6M (up 13.9% YoY) for Q4 FY2025, with a net profit of $123.3M (up 4.2% YoY) (58.3% margin).
Key Financial Metrics
| Total Revenue | $211.6M |
|---|---|
| Net Profit | $123.3M |
| Gross Margin | N/A |
| Operating Margin | 70.5% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
Texas Pacific Land Corporation Q4 FY2025 revenue of $211.6M breaks down across 4 segments, led by Water Serviceand Operations Segment at $98.2M (46.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Water Serviceand Operations Segment | $98.2M | 46.4% |
| Water Sales And Royalties | $60.7M | 28.7% |
| Produced Water Royalties | $33.5M | 15.8% |
| Easementand Sundry | $20.6M | 9.7% |
Texas Pacific Land Corporation Revenue by Segment — Quarterly Trend
Texas Pacific Land Corporation revenue by segment across the last 4 reported quarters, showing how each business line (such as Water Serviceand Operations Segment and Water Sales And Royalties) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Water Serviceand Operations Segment | $98.2M | — | — | — |
| Water Sales And Royalties | $60.7M | $44.6M | $25.6M | $38.8M |
| Produced Water Royalties | $33.5M | $32.3M | $30.7M | $27.7M |
| Easementand Sundry | $20.6M | $16.7M | $36.2M | $18.2M |
Texas Pacific Land Corporation Annual Revenue by Year
Texas Pacific Land Corporation annual revenue history includes year-by-year totals (for example, 2025 revenue was $798.2M).
Texas Pacific Land Corporation Quarterly Revenue & Net Profit History
Texas Pacific Land Corporation results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $211.6M | +13.9% | $123.3M | 58.3% |
| Q3 FY2025 | $203.1M | +17.0% | $121.2M | 59.7% |
| Q2 FY2025 | $187.5M | +8.8% | $116.1M | 61.9% |
| Q1 FY2025 | $196.0M | +12.5% | $120.7M | 61.6% |
| Q4 FY2024 | $185.8M | +11.5% | $118.4M | 63.7% |
| Q3 FY2024 | $173.6M | +9.9% | $106.6M | 61.4% |
| Q2 FY2024 | $172.3M | +7.3% | $114.6M | 66.5% |
| Q1 FY2024 | $174.1M | +19.0% | $114.4M | 65.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $174.1M | $172.3M | $173.6M | $185.8M | $196.0M | $187.5M | $203.1M | $211.6M |
| YoY Growth | 19.0% | 7.3% | 9.9% | 11.5% | 12.5% | 8.8% | 17.0% | 13.9% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.26B | $1.32B | $1.18B | $1.25B | $1.35B | $1.40B | $1.52B | $1.62B |
| Liabilities | $136.7M | $109.4M | $123.4M | $115.6M | $147.0M | $115.7M | $156.9M | $164.4M |
| Equity | $1.12B | $1.21B | $1.05B | $1.13B | $1.21B | $1.29B | $1.37B | $1.46B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $147.2M | $98.3M | $118.6M | $126.6M | $156.7M | $120.9M | $154.6M | $113.7M |