Texas Pacific Land Corporation
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $798.2M | $705.8M | $631.6M | $667.4M | $451.0M | $302.6M | $490.5M | $300.2M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $23.8M | $34.5M | $46.5M | $22.0M | $11.6M | $9.8M | $9.5M | $4.7M |
| Operating Income | $592.2M | $539.1M | $486.1M | $562.3M | $362.4M | $217.3M | $399.6M | $260.8M |
| Operating Margin | 74.2% | 76.4% | 77.0% | 84.3% | 80.4% | 71.8% | 81.5% | 86.9% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $610.3M | $578.8M | $517.6M | $568.9M | $363.0M | $219.7M | $402.3M | $261.8M |
| Income Tax Expense | $129.0M | $124.9M | $111.9M | $122.5M | $93.0M | $43.6M | $83.5M | $52.0M |
| Net Income | $481.4M | $454.0M | $405.6M | $446.4M | $270.0M | $176.0M | $318.7M | $209.7M |
| Net Margin | 60.3% | 64.3% | 64.2% | 66.9% | 59.9% | 58.2% | 65.0% | 69.9% |
| EPS (Basic) | $6.98 | $6.58 | $5.87 | $6.42 | $3.87 | $2.52 | $4.57 | $2.99 |
| EPS (Diluted) | $6.97 | $6.57 | $5.86 | $6.42 | $3.87 | $2.52 | $4.57 | $2.99 |
| Shares Outstanding (Basic) | 68.9M | 69.0M | 69.1M | 69.5M | 69.8M | 69.8M | 69.8M | — |
| Shares Outstanding (Diluted) | 69.0M | 69.1M | 69.2M | 69.5M | 69.8M | 69.8M | 69.8M | 70.1M |
| Dividends Per Share | $2.13 | — | $4.33 | — | $1.22 | $1.11 | $0.19 | — |