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Texas Pacific Land Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Texas Pacific Land holds $1.8B in total assets. Shareholders' equity is $1.6B against $18.0M in total debt. Cash and equivalents total $248.2M. The current ratio is 4.23 and debt-to-equity is 0.012. Based on the Q1 2026 filing.

Total Assets$1.8BTotal Stockholders Equity$1.6BCash And Equivalents$248.2MTotal Current Assets$435.1MTotal Current Liabilities$102.9M
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$26.7B
P/E Ratio52.95
ROE36.47%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts payable$27.0M$25.1M$27.0M$38.5M$39.6M$40.5M
Accrued expenses$504.0K$678.0K$646.0K$372.0K$413.0K$74.0K
Accrued Progress Collections and Price Adjustments$20.6M$20.3M$21.2M$19.7M$21.1M$19.0M
Contract liabilities$20.6M$20.3M$21.2M$19.7M$21.1M$19.0M
Accounts payable and other current liabilities (Note 11)$27.0M$25.1M$27.0M$38.5M$39.6M$40.5M
Accrued Income Taxes, Current$4.4M$37.3M$4.2M$9.9M$4.0M$37.3M
Revolving credit facility$0.0———$0.0$0.0
Deferred revenue$6.8M$12.0M$9.0M$11.9M$20.1M$22.2M
Income taxes payable$4.4M$37.3M$4.2M$9.9M$4.0M$37.3M
Lease Liability Payments - 2020 (Remaining Three Months)———$188.0K—$1.5M
Operating Lease Liability Payments - 2024 (Lessee)———$2.4M—$2.3M
Operating Lease Liability Payments - 2025 (Lessee)———$2.3M—$2.4M
Lease Liability Payments - Due Year Two———$2.4M—$2.3M
Lease Liability Payments - Due Year Three———$2.3M—$2.3M
Lease Liability Payments - Due Year Four———$2.3M—$2.4M
Lease Liability Payments - Remainder of Fiscal Year———$1.6M—$2.4M
Line of Credit Outstanding$0.0———$0.0$0.0
Operating lease liabilities, current$1.3M——$17.7M$17.8M$18.0M
Operating Lease Liability Payments Due———$25.4M—$25.2M
Operating Lease Liability - Undiscounted Excess Amount———$7.8M—$7.2M
Total current liabilities$46.6M$77.9M$45.1M$67.9M$72.6M$102.9M

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$19.9M$2.1M$5.4M$6.6M$9.9M$2.9M
Accumulated other comprehensive income (loss)$3.6M$3.5M$3.5M$3.5M$4.2M$3.8M
Common stock231K46.5M46.5M46.5M691K139.6M
Common Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Convertible Preferred Stock Authorized Shares1M1M1M1M1M1M
Convertible Preferred Stock Outstanding Shares000000
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$231.0K$231.0K$231.0K$231.0K$691.0K$691.0K
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Preferred stock$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Retained earnings$1.3B$1.3B$1.4B$1.5B$1.6B$1.7B
Share-Based Payment - Unrecognized Cost of Nonvested Awards—$22.7M$19.2M$15.6M—$26.7M
Share Repurchase Authorization Limit—$178.5M$178.5M$170.2M—$170.2M
Share Repurchase Program - Amount Remaining—$178.5M$178.5M$170.2M—$170.2M
Total liabilities and stockholders' equity$1.2B$1.4B$1.4B$1.5B$1.6B$1.8B
Total stockholders' equity$1.1B$1.2B$1.3B$1.4B$1.5B$1.6B
Treasury stock$168.8M$144.9M$144.7M$151.2M$151.2M$132.9M

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash and cash equivalents$371.4M$463.8M$543.9M$531.8M$145.4M$248.2M
Current Equity Amortized Cost$0.0———$50.0M$50.0M
Equity Securities (FV-NI) - Cost Basis$0.0———$50.0M$50.0M
Allowance for Credit Losses on Financing Receivables—————$0.0
Income taxes receivable$0.0———$3.7M$0.0
Other Receivables$126.7M$138.3M$114.3M$127.8M$164.9M$181.1M
Prepaid expenses and other current assets$5.3M$4.9M$9.3M$77.6M$5.3M$5.9M
Total current assets$503.4M$606.9M$667.5M$737.2M$319.3M$435.1M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Commitments and contingencies$0.0$0.0$0.0$0.0$0.0$0.0
Cumulative Cost Basis$0.0$188.3M$192.1M$205.9M$50.0M$50.0M
Accumulated Depreciation, Royalty Interests$14.7M$22.0M$30.7M$40.8M$57.4M$66.0M
Long-term financing receivables, allowances—————$0.0
Area of Real Estate Property$74.5K$74.5K$75.3K$83.4K$83.4K$83.4K
Oil and Gas, Capitalized Cost, Accumulated Depreciation, Depletion, Amortization, and Valuation Allowance$14.7M$22.0M$30.7M$40.8M$57.4M$66.0M
Proved$151.0M$164.0M$171.0M$190.1M$369.3M$380.5M
Unproved$296.1M$286.6M$275.7M$256.6M$528.2M$516.9M
Oil and Gas, Capitalized Cost, before Accumulated Depreciation, Depletion, Amortization, and Valuation Allowance$447.1M$450.6M$446.7M$446.7M$897.4M$897.4M
Oil and Gas, Capitalized Cost, after Accumulated Depreciation, Depletion, Amortization, and Valuation Allowance$432.4M$428.7M$416.0M$405.9M$840.0M$831.5M
Common stock, par value (in dollars per share)$0.0$0.0$0.0$0.0$0.0$0.0
Common stock, shares authorized (in shares)$46.5M$46.5M$46.5M$46.5M$139.6M$139.6M
Common Stock, Shares, Outstanding$23.0M$23.0M$23.0M$23.0M$68.9M$69.0M
Deferred income taxes$47.4M$48.2M$48.7M$52.5M$54.1M$57.7M
Unrecognized share-based compensation costs for non-vested restricted stock awards, net of expected forfeitures—$22.7M$19.2M$15.6M—$26.7M
Cost$0.0———$50.0M$50.0M
Escrow deposit$1.5M$3.4M$0.0$0.0$595.0K$595.0K
2031 and thereafter—$23.5M$23.5M$23.5M—$21.1M
Finite-Lived Intangible Assets, Accumulated Amortization$1.9M$2.5M$3.1M$3.7M$4.3M$4.8M
2028—$2.3M$2.3M$2.3M—$2.3M
2030—$2.3M$2.3M$2.3M—$2.3M
Remainder of 2026—$1.8M$1.2M$585.0K—$1.8M
2027—$2.3M$2.3M$2.3M—$2.3M
2029—$2.3M$2.3M$2.3M—$2.3M
Gross Carrying Amount$37.1M$37.1M$37.1M$37.1M$37.1M$37.1M
Land (surface rights)798643.00798643.00798643.00798626.00798626.00797947.00
Land (surface rights)$0.0$0.0$0.0$0.0$0.0$0.0
Lessee Operating Lease Liability Payments Due———$25.4M—$25.2M
2031 and thereafter———$16.6M—$14.2M
Lessee Operating Lease Liability Undiscounted Excess Amount———$7.8M—$7.2M
Operating Lease Weighted Average Discount Rate Percent———$0.1—$0.1
Other receivables$126.7M$138.3M$114.3M$127.8M$164.9M$181.1M
Preferred Stock, Par or Stated Value Per Share$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Authorized$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M
Preferred Stock, Shares Outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Real Estate Gross At Carrying Value$143.2M$143.2M$147.7M$179.1M$179.1M$179.1M
Royalty Interest Acquired$447.1M$450.6M$446.7M$446.7M$897.4M$897.4M
Share Repurchase Program, Remaining Authorized, Amount—$178.5M$178.5M$170.2M—$170.2M
Total Real Estate Including Land Surface Rights$143.2M$143.2M$147.7M$179.1M$179.1M$179.1M
Total Real Estate and Land Surface Rights, Acres873136.00873136.00873923.00882053.00882053.00881374.00
Total Royalty Interests, Gross$447.1M$450.6M$446.7M$446.7M$897.4M$897.4M
Treasury stock, shares (in shares)$114.3K$98.8K$98.8K$106.7K$320.0K$284.0K
Remainder of Fiscal Year 2024—$1.8M$1.2M$188.0K—$1.5M
Remainder of Fiscal Year 2025—$1.8M$1.2M$585.0K—$1.8M

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Contract Liabilities, Non-Current$20.6M$20.3M$21.2M$19.7M$21.1M$19.0M
Operating Lease Liability Payments - 2026 (Lessee)———$2.3M—$2.3M
Operating Lease Liability Payments - 2027 (Lessee)———$2.3M—$2.3M
Operating Lease Liability Payments - 2028 (Lessee)———$2.3M—$2.4M
Accrued taxes and other expenses$504.0K$678.0K$646.0K$372.0K$413.0K$74.0K
Deferred revenue, net of current portion$20.6M$20.3M$21.2M$19.7M$21.1M$19.0M
Operating lease liabilities, non-current$453.0K——$16.5M$16.2M$15.8M
Operating Lease Liabilities (Total)$1.3M——$17.7M$17.8M$18.0M
Total liabilities$115.6M$147.0M$115.7M$157.0M$164.4M$195.5M

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred tax assets$47.4M$48.2M$48.7M$52.5M$54.1M$57.7M
Equipment Installment Plan Receivables (Non-Current), Net————$0.0$20.0M
Equity Amortized Cost$0.0———$50.0M$50.0M
Available-for-sale securities$0.0———$50.0M$50.0M
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)—$2.3M$2.3M$2.3M—$2.3M
Finite Lived Intangible Assets - Gross$37.1M$37.1M$37.1M$37.1M$37.1M$37.1M
Intangible assets, net$35.2M$34.6M$34.0M$33.4M$32.8M$32.3M
Investments - Cost Basis$0.0———$50.0M$50.0M
Net Investment in Lease$1.2M——$14.0M$13.7M$13.4M
Intangible assets — net$35.2M$34.6M$34.0M$33.4M$32.8M$32.3M
Other intangible assets—net$35.2M$34.6M$34.0M$33.4M$32.8M$32.3M
Long-term financing receivables (net of allowances of $27 in 2026 and $34 in 2025)————$0.0$20.0M
Operating lease right-of-use assets$1.2M——$14.0M$13.7M$13.4M
Other Assets$10.1M$11.5M$11.5M$17.7M$23.7M$23.4M
Property, plant and equipment at cost$178.4M$188.3M$192.1M$205.9M$231.3M$238.3M
Royalty interests acquired, net$432.4M$428.7M$416.0M$405.9M$840.0M$831.5M
Operating lease right-of-use assets116300000.0%——6.6%1368300000.0%6.6%
Operating Lease Right-of-Use Assets in Other Assets$1.2M——$14.0M$13.7M$13.4M
Other non-current assets$10.1M$11.5M$11.5M$17.7M$23.7M$23.4M
Accumulated depreciation$55.8M$59.8M$64.2M$68.4M$66.8M$71.5M
Property and equipment, net$122.6M$128.5M$127.9M$137.5M$164.5M$166.8M
Total assets$1.2B$1.4B$1.4B$1.5B$1.6B$1.8B