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Texas Pacific Land TPL Q4 2025 Annual earnings

Reported February 18, 2026 · After market close

Revenue$211.6MBeat by $4.1MDiluted EPS$1.79In line
Revenue estimate$207.5M
EPS estimate$1.79

Next report

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

Financials

Q4 2025

Income statement

See full
Revenue$211.6M+13.9%
Operating income$149.2M+4.7%
Net income$123.3M+4.2%

Balance sheet

See full
Cash & equivalents$145.4M-60.8%
Total debt$17.8M+1,269%
Total equity$1.5B+28.8%
Total assets$1.6B+30.1%

Cash flow

See full
Operating cash flow$113.7M-10.2%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$19.8B-22.1%
Enterprise value$19.67B-21.4%
P/E41.1×-14.8×
P/S24.8×-11.2×

Profitability

See full
Operating margin74.2%-2.2pp
Net margin60.3%-4.0pp

Returns & leverage

See full
Return on equity37.2%-4.6pp
Debt / equity0×0.0×
Current ratio4.4×-6.4×

Segments

By product

See full
Oil and gas royalties$96.7M-0.2%
Water sales$60.7M+65.3%
Produced water royalties$33.5M+19.3%
Easements and other surface-related income$20.6M-5.3%

By segment

See full
LRM$113.4M-4.4%
WSO$98.2M+46.2%

Versus estimates

Revenue

Q1 2026$236.8MBeat by $3.8M
Q4 2025$211.6MBeat by $4.1M
Q3 2025$203.1MBeat by $28.1MQ2 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 $0.04
Q4 2025$1.79In line
Q3 2025$1.76Miss by $0.16Q2 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 Q4 2025 earnings?
Texas Pacific Land (TPL) reported Q4 2025 earnings on February 18, 2026 after market close.
What were Texas Pacific Land's Q4 2025 revenue and EPS?
Texas Pacific Land reported revenue of $211.6M and diluted EPS of $1.79 for Q4 2025.
Did Texas Pacific Land beat estimates in Q4 2025?
Revenue beat the consensus estimate of $207.5M by $4.1M. EPS beat the consensus estimate of $1.79 by $0.00.
How did Texas Pacific Land's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.9% from $185.8M a year earlier and diluted EPS grew 4.7% from $1.71.
Where can I find Texas Pacific Land's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001811074-26-000016) and the 10-K periodic report (0001811074-26-000018) directly on SEC EDGAR. The filing index links above go to sec.gov.