Texas Pacific Land Corp
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $798.2M | $705.8M | $631.6M | $667.4M | $451.0M | $302.6M |
| Operating income | $592.2M | $539.1M | $486.1M | $562.3M | $362.4M | $217.3M |
| Net income | $481.4M | $454.0M | $405.6M | $446.4M | $270.0M | $176.0M |
| Total assets | $1.62B | $1.25B | $1.16B | $877.4M | $764.1M | $571.6M |
| Total liabilities | $164.4M | $115.6M | $113.2M | $104.5M | $112.4M | $86.5M |
| Equity | $1.46B | $1.13B | $1.04B | $772.9M | $651.7M | $485.2M |
| EPS (diluted) | $6.97 | $6.57 | $5.86 | $19.26 | $34.83 | $22.70 |
| Shares out. | 23.0M | 7.7M | 7.7M | 7.7M | 7.8M | 7.8M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- 74.2%
- Net margin
- 60.3%
- Return on equity
- 33.0%
- Return on assets
- 29.7%
- Return on capital (ROCE)
- 38.2%
- Liabilities / assets
- 10.1%
- Debt / equity
- 0.11×
- Book value / share
- $63.47
- Revenue growth (YoY)
- 13.1%
- Net income growth (YoY)
- 6.0%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 15.97safe
- Accruals / assets
- −4.0%clean
- Piotroski F-Score
- 3/9weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 7 good- Operating margin is positive
- Strong return on equity (>15%)
- Revenue is growing year-over-year
- Conservative leverage (liabilities < 50% of assets)
- Positive operating cash flow
- Clean earnings (low accruals)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Horizon Kinetics Asset Management LlcActivist (13D)May 7, 2026
- Vanguard Capital Management LlcPassive (13G)Apr 30, 2026
- Vanguard Group IncPassive (13G)Mar 27, 2026
- State Street CorpPassive (13G)Nov 10, 2025
- Blackrock, Inc.Passive (13G)Feb 5, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 4.2M | 10.3 | +0.5% |
| Apr 30, 2026 | 4.2M | 12.4 | -1.1% |
| Apr 15, 2026 | 4.2M | 6.6 | +8.7% |
| Mar 31, 2026 | 3.9M | 7.6 | -5.9% |
| Mar 13, 2026 | 4.1M | 8.3 | -12.3% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Regulation FD disclosureMay 18, 2026
- Entered a material agreement · Results of operations · Director / officer change · Regulation FD disclosureMay 6, 2026
- Regulation FD disclosureApr 9, 2026
- Results of operations · Regulation FD disclosureFeb 18, 2026
- Regulation FD disclosureDec 17, 2025
- Amended charter or bylaws · Regulation FD disclosureDec 2, 2025
- Shareholder voteNov 12, 2025
- Results of operations · Regulation FD disclosureNov 5, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.