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Texas Pacific Land TPL Q3 2025 earnings

Reported November 5, 2025 · After market close

Revenue$203.1MBeat by $28.1MDiluted EPS$1.76Miss by $0.16
Revenue estimate$175.0M
EPS estimate$1.92

Next report

Aug 5, 2026 (In 3 weeks)
Revenue estimate$252.5M
EPS estimate$2.14

Financials

Q3 2025

Income statement

See full
Revenue$203.1M+17.0%
Operating income$149.1M+17.1%
Net income$121.2M+13.7%
EPS (diluted)$5.27+13.8%

Balance sheet

See full
Cash & equivalents$531.8M-0.4%
Total debt$17.7M—
Total equity$1.4B+30.0%
Total assets$1.5B+29.7%

Cash flow

See full
Operating cash flow$154.6M+30.4%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$21.45B+5.5%
Enterprise value$20.94B—
P/E45×-0.3×
P/S27.8×-1.8×

Profitability

See full
Operating margin75.8%-1.4pp
Net margin61.7%-3.7pp

Returns & leverage

See full
Return on equity39.4%-5.1pp
Debt / equity0×—
Current ratio10.9×-1.5×

Segments

By product

See full
Oil and gas royalties$108.7M+15.1%
Water sales$44.6M+23.1%
Produced water royalties$32.3M+16.4%
Easements and other surface-related income$16.7M+17.1%

By segment

See full
LRM$122.3M+14.6%
WSO$80.8M+20.8%

Versus estimates

Revenue

Q1 2026$236.8MBeat by $3.8MQ4 2025$211.6MBeat by $4.1M
Q3 2025$203.1MBeat by $28.1M
Q2 2025$187.5MMiss by $10.5MQ1 2025$196.0MMiss by $15.0MQ4 2024$185.8MBeat by $784.0K

Diluted EPS

Q1 2026$2.07Beat by $0.04Q4 2025$1.79In line
Q3 2025$1.76Miss by $0.16
Q2 2025$1.68Miss by $0.15Q1 2025$1.75Miss by $0.01Q4 2024$1.71Beat by $0.10

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Questions, answered.

When did Texas Pacific Land report Q3 2025 earnings?
Texas Pacific Land (TPL) reported Q3 2025 earnings on November 5, 2025 after market close.
What were Texas Pacific Land's Q3 2025 revenue and EPS?
Texas Pacific Land reported revenue of $203.1M and diluted EPS of $1.76 for Q3 2025.
Did Texas Pacific Land beat estimates in Q3 2025?
Revenue beat the consensus estimate of $175.0M by $28.1M. EPS missed the consensus estimate of $1.92 by $0.16.
How did Texas Pacific Land's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 17.0% from $173.6M a year earlier and diluted EPS grew 14.3% from $1.54.
Where can I find Texas Pacific Land's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001811074-25-000094) and the 10-Q periodic report (0001811074-25-000096) directly on SEC EDGAR. The filing index links above go to sec.gov.