TPL FY 2025 Earnings Report — Texas Pacific Land Corporation Revenue & Financial Results | Market Cap Arena

Texas Pacific Land CorporationTPL

FY 2025 Earnings

Reported February 18, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$798M	—	$706M	—	13.1%
Op. Income	$592M	—	$539M	—	9.8%
Gross Margin	100.0%	—	89.9%	—	10.1pp
Net Margin	60.3%	—	64.3%	—	-4.0pp
EPS (Diluted)	$6.97	—	$6.57	—	6.0%
Free Cash Flow	$486M	—	$461M	—	5.5%

Revenue Flow

Item	Amount
REVENUE	$798M
Cost of Revenue	$0
GROSS PROFIT	$798M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$24M
SG&A Expenses	$24M
Other Expenses	$182M
Operating Expenses	$206M
Cost & Expenses	$206M
OPERATING INCOME	$592M
Interest Income	$18M
Interest Expense	$0
Other Income/Expenses	$18M
INCOME BEFORE TAX	$610M
Income Tax Expense	$129M
Net Income from Continuing Ops	$481M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$481M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$481M
D&A	$63M
EBIT	$593M
EBITDA	$655M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$798M
Cost of Revenue	$0
GROSS PROFIT	$798M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$24M
SG&A Expenses	$24M
Other Expenses	$182M
Operating Expenses	$206M
Cost & Expenses	$206M
OPERATING INCOME	$592M
Interest Income	$18M
Interest Expense	$0
Other Income/Expenses	$18M
INCOME BEFORE TAX	$610M
Income Tax Expense	$129M
Net Income from Continuing Ops	$481M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$481M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$481M
D&A	$63M
EBIT	$593M
EBITDA	$655M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$481M
Depreciation & Amortization	$63M
Stock-Based Compensation	$15M
Deferred Income Tax	$7M
Other Non-Cash Items	$10M
Change in Working Capital	-$30M
OPERATING CASH FLOW	$546M
Capital Expenditure	-$60M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$536M
NET CASH FROM INVESTING	-$596M
Net Debt Issuance	$0
Common Stock Repurchased	-$23M
Common Dividends Paid	-$148M
Other Financing Activities	-$5M
NET CASH FROM FINANCING	-$176M
FREE CASH FLOW	$486M
Net Change in Cash	-$226M

Balance Sheet

Item	Amount
Cash & Equivalents	$145M
Short-Term Investments	$0
Net Receivables	$165M
Inventory	$0
Other Current Assets	$10M
TOTAL CURRENT ASSETS	$319M
PP&E (Net)	$178M
Goodwill	$0
Intangible Assets	$33M
Long-Term Investments	$1.1B
Tax Assets	$0
Other Non-Current Assets	$24M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.6B
Account Payables	$48M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$24M
TOTAL CURRENT LIABILITIES	$73M
Long-Term Debt	$16M
Deferred Revenue NC	$41M
Deferred Tax Liabilities	$70M
Other Non-Current Liabilities	-$52M
TOTAL NON-CURRENT LIABILITIES	$92M
TOTAL LIABILITIES	$164M
Common Stock	$691.0K
Additional Paid-In Capital	$10M
Retained Earnings	$1.6B
Treasury Stock	-$151M
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$1.6B
Total Debt	$32M
Net Debt	-$112M