Texas Pacific Land Corporation (TPL) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 236.82M | 211.58M | 203.09M | 187.54M | 195.98M | 185.78M | 173.56M | 172.33M | 174.14M | 166.66M | 157.97M | 160.61M | 146.36M | 152.71M | 191.11M | 176.27M | 147.34M | 147.18M | 123.69M | 95.93M |
| Revenue Growth % | 20.84% | 13.88% | 17.01% | 8.83% | 12.54% | 11.48% | 9.87% | 7.3% | 18.98% | 9.14% | -17.34% | -8.88% | -0.66% | 3.76% | 54.5% | 83.74% | 75.08% | 98.08% | 66.29% | 67.47% |
| Cost of Goods Sold | 42.37M | -76.61M | 31.39M | 22.15M | 23.07M | 20.4M | 11.73M | 18.92M | 14.3M | 12.95M | 12.14M | 14.18M | 9.06M | 7.63M | 10.27M | 8.1M | 6.91M | 7.43M | 7.52M | 7.41M |
| COGS % of Revenue | 17.89% | -36.21% | 15.46% | 11.81% | 11.77% | 10.98% | 6.76% | 10.98% | 8.21% | 7.77% | 7.68% | 8.83% | 6.19% | 4.99% | 5.37% | 4.59% | 4.69% | 5.05% | 6.08% | 7.72% |
| Gross Profit | 194.44M | 288.19M | 171.69M | 165.39M | 172.92M | 165.38M | 161.83M | 153.42M | 159.84M | 153.71M | 145.83M | 146.43M | 137.3M | 145.08M | 180.85M | 168.18M | 140.43M | 139.75M | 116.18M | 88.52M |
| Gross Margin % | 82.11% | 136.21% | 84.54% | 88.19% | 88.23% | 89.02% | 93.24% | 89.02% | 91.79% | 92.23% | 92.32% | 91.17% | 93.81% | 95.01% | 94.63% | 95.41% | 95.31% | 94.95% | 93.92% | 92.28% |
| Gross Profit Growth % | 12.45% | 74.25% | 6.09% | 7.81% | 8.18% | 7.59% | 10.97% | 4.77% | 16.42% | 5.95% | -19.36% | -12.93% | -2.23% | 3.81% | 55.66% | 89.98% | 82.33% | 110.29% | 70.11% | 81.64% |
| Operating Expenses | 12.12M | 138.94M | 22.6M | 21.64M | 22.84M | 22.84M | 34.5M | 20.2M | 23.8M | 19.85M | 18.87M | 26.15M | 32.35M | 20.85M | 18.79M | 16.47M | 16.11M | 13.89M | 12.94M | 17.25M |
| OpEx % of Revenue | 5.12% | 65.67% | 11.13% | 11.54% | 11.66% | 12.29% | 19.88% | 11.72% | 13.67% | 11.91% | 11.95% | 16.28% | 22.1% | 13.65% | 9.83% | 9.34% | 10.94% | 9.44% | 10.46% | 17.98% |
| Selling, General & Admin | 0 | -22.22M | 5.59M | 19.77M | 20.64M | 21.54M | 12.35M | 5.98M | 21.44M | 17.89M | 17.09M | 24.08M | 30.77M | 18.97M | 15.96M | 14.46M | 14.1M | 13.89M | 12.94M | 17.25M |
| SG&A % of Revenue | - | -10.5% | 2.75% | 10.54% | 10.53% | 11.59% | 7.11% | 3.47% | 12.31% | 10.73% | 10.82% | 14.99% | 21.03% | 12.42% | 8.35% | 8.2% | 9.57% | 9.44% | 10.46% | 17.98% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 |
| Operating Income | 182.33M | 149.25M | 149.09M | 143.75M | 150.07M | 142.54M | 127.33M | 133.22M | 136.04M | 133.86M | 126.96M | 120.28M | 104.95M | 124.23M | 162.06M | 151.71M | 124.31M | 125.86M | 103.24M | 71.27M |
| Operating Margin % | 76.99% | 70.54% | 73.41% | 76.65% | 76.57% | 76.73% | 73.36% | 77.3% | 78.12% | 80.32% | 80.37% | 74.89% | 71.71% | 81.35% | 84.8% | 86.07% | 84.37% | 85.52% | 83.46% | 74.29% |
| Operating Income Growth % | 21.49% | 4.7% | 17.09% | 7.9% | 10.31% | 6.49% | 0.29% | 10.76% | 29.62% | 7.75% | -21.66% | -20.72% | -15.57% | -1.3% | 56.97% | 112.86% | 100.43% | 127.88% | 81.93% | 105.15% |
| EBITDA | 196.37M | 171.18M | 164.05M | 157.45M | 162.01M | 154.01M | 133.09M | 137.31M | 139.88M | 137.74M | 130.54M | 124.17M | 108.36M | 127.38M | 165.97M | 155.89M | 128.44M | 130.56M | 107.11M | 75.13M |
| EBITDA Margin % | 82.92% | 80.9% | 80.78% | 83.95% | 82.67% | 82.9% | 76.68% | 79.68% | 80.33% | 82.65% | 82.64% | 77.31% | 74.03% | 83.42% | 86.85% | 88.44% | 87.17% | 88.71% | 86.59% | 78.31% |
| EBITDA Growth % | 21.21% | 11.15% | 23.26% | 14.66% | 15.82% | 11.81% | 1.95% | 10.58% | 29.09% | 8.13% | -21.35% | -20.34% | -15.64% | -2.43% | 54.96% | 107.5% | 95.02% | 121.83% | 77.01% | 95.55% |
| D&A (Non-Cash Add-back) | 14.04M | 21.93M | 14.96M | 13.7M | 11.94M | 11.47M | 5.76M | 4.09M | 3.84M | 3.88M | 3.58M | 3.89M | 3.4M | 3.15M | 3.92M | 4.18M | 4.13M | 4.7M | 3.87M | 3.86M |
| EBIT | 184.56M | 143.92M | 155.18M | 143.75M | 150.07M | 142.54M | 127.33M | 133.37M | 136.04M | 133.86M | 126.96M | 120.41M | 104.95M | 124.59M | 162.06M | 151.71M | 124.31M | 125.97M | 103.24M | 71.27M |
| Net Interest Income | 689K | 2.97M | 5.88M | 5.02M | 4.1M | 3.67M | 7.91M | 10.76M | 9.8M | 0 | 7.85M | 6.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 1.68M | 2.97M | 5.88M | 5.02M | 4.1M | 3.67M | 7.91M | 10.76M | 9.8M | 0 | 7.85M | 6.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 992K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1.24M | 2.52M | 6.09M | 5.24M | 4.32M | 8.43M | 8.09M | 13.22M | 9.94M | 11.27M | 7.98M | 6.87M | 5.39M | 3.92M | 1.92M | 630K | 76K | -300K | 513K | 406K |
| Pretax Income | 183.56M | 151.76M | 155.18M | 148.99M | 154.39M | 150.98M | 135.42M | 146.44M | 145.98M | 145.13M | 134.94M | 127.15M | 110.34M | 128.15M | 163.97M | 152.34M | 124.39M | 125.56M | 103.75M | 71.68M |
| Pretax Margin % | 77.51% | 71.73% | 76.41% | 79.44% | 78.78% | 81.27% | 78.02% | 84.98% | 83.83% | 87.08% | 85.42% | 79.17% | 75.39% | 83.92% | 85.8% | 86.42% | 84.43% | 85.31% | 83.88% | 74.72% |
| Income Tax | 40.66M | 28.42M | 33.94M | 32.85M | 33.74M | 32.62M | 28.82M | 31.85M | 31.57M | 32.02M | 29.36M | 26.76M | 23.77M | 28.42M | 34.14M | 33.44M | 26.49M | 46.52M | 19.92M | 14.63M |
| Effective Tax Rate % | 22.15% | 18.73% | 21.87% | 22.05% | 21.85% | 21.6% | 21.28% | 21.75% | 21.62% | 22.06% | 21.76% | 21.04% | 21.55% | 22.18% | 20.82% | 21.95% | 21.3% | 37.05% | 19.2% | 20.41% |
| Net Income | 142.9M | 123.35M | 121.24M | 116.14M | 120.65M | 118.36M | 106.59M | 114.59M | 114.42M | 113.11M | 105.57M | 100.39M | 86.57M | 99.73M | 129.84M | 118.89M | 97.9M | 79.05M | 83.84M | 57.05M |
| Net Margin % | 60.34% | 58.3% | 59.7% | 61.93% | 61.56% | 63.71% | 61.42% | 66.49% | 65.7% | 67.87% | 66.83% | 62.51% | 59.15% | 65.31% | 67.94% | 67.45% | 66.45% | 53.71% | 67.78% | 59.47% |
| Net Income Growth % | 18.44% | 4.21% | 13.74% | 1.35% | 5.45% | 4.64% | 0.97% | 14.14% | 32.17% | 13.42% | -18.69% | -15.56% | -11.58% | 26.17% | 54.87% | 108.42% | 95.6% | 76.48% | 81.17% | 106.82% |
| Net Income (Continuing) | 142.9M | 123.35M | 121.24M | 116.14M | 120.65M | 118.36M | 106.59M | 114.59M | 114.42M | 113.11M | 105.57M | 100.39M | 86.57M | 99.73M | 129.84M | 118.89M | 97.9M | 79.05M | 83.84M | 57.05M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.07 | 1.78 | 1.76 | 1.68 | 1.75 | 1.71 | 1.54 | 1.66 | 1.66 | 1.64 | 1.53 | 1.45 | 1.25 | 1.44 | 1.87 | 1.71 | 1.40 | 1.13 | 1.20 | 0.82 |
| EPS Growth % | 18.51% | 3.89% | 14.04% | 1.41% | 5.43% | 4.68% | 1.09% | 14.48% | 32.53% | 13.66% | -18.36% | -15.04% | -10.93% | 27.06% | 55.4% | 108.98% | 95.81% | 77.08% | 81.41% | 105.88% |
| EPS (Basic) | 2.07 | 1.79 | 1.76 | 1.68 | 1.75 | 1.72 | 1.55 | 1.66 | 1.66 | 1.64 | 1.53 | 1.45 | 1.25 | 1.44 | 1.87 | 1.71 | 1.41 | 1.13 | 1.20 | 0.82 |
| Diluted Shares Outstanding | 69.01M | 69.03M | 69.03M | 69.04M | 69.02M | 69.05M | 69.04M | 69.04M | 69.06M | 69.1M | 69.14M | 69.22M | 69.29M | 69.35M | 69.48M | 69.63M | 69.68M | 69.7M | 69.76M | 69.8M |
| Basic Shares Outstanding | 68.96M | 68.95M | 69.02M | 68.99M | 69.08M | 69.04M | 69.07M | 69.03M | 69.06M | 69.14M | 69.15M | 69.24M | 69.25M | 69.32M | 69.47M | 69.62M | 69.71M | 69.7M | 69.76M | 69.8M |
| Dividend Payout Ratio | - | 29.81% | 30.37% | 31.67% | 31.03% | 31.06% | 240.87% | 23.47% | 23.52% | 22.1% | 23.63% | 24.87% | 28.95% | 23.21% | 17.82% | 149.52% | 23.72% | 26.94% | 25.42% | 37.39% |