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Texas Pacific Land Income Statement

Revenue, expenses, and profitability over time

Texas Pacific Land generated $839.0M in trailing twelve-month revenue, up 0.2% year-over-year. Net income was $503.6M with a 60.03% net margin. Diluted EPS is $14.14, which declined 0.3% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$839.0MOperating Income (TTM)$624.4MNet Income (TTM)$503.6MEps Diluted (TTM)$55.04
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$25.5B
P/E Ratio50.61
ROE36.47%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Compensation and benefits$14.4M$14.6M$14.1M$14.4M$14.9M$15M
Depreciation and amortization$11.5M$11.9M$13.7M$15M$21.9M$14M
General and administrative$6.8M$6.1M$5.7M$5.6M$6.4M$8.6M
Water service-related expenses$9.4M$11.1M$8.5M$16.4M$17.5M$14.3M
Total operating expenses$43.2M$45.9M$43.8M$54M$62.3M$54.5M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share—$1.75$5.05$5.27—$2.07
Diluted earnings per share—$1.75$5.05$5.27—$2.07
Weighted-average shares, basic69M68.9M23M23M68.9M69M
Weighted-average shares, diluted69.1M69M23M23M69M69M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$151M$154.4M$149M$155.2M$151.8M$183.6M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$32.6M$33.7M$32.9M$33.9M$28.4M$40.7M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest expense$0$0———$992K
Other income (expense), net$8.4M$4.3M$5.2M$6.1M$3.2M$2.2M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$118.4M$120.7M$116.1M$121.2M$123.3M$142.9M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating income$142.5M$150.1M$143.8M$149.1M$149.2M$182.3M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dividends declared (in dollars per share)—$0.53$1.60$1.60—$0.60
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$120.2M$120.6M$116.1M$121.2M$124M$142.5M
Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax$609K$180.8K$180.8K$180.8K$180.8K—
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost-$171K-$39K-$39K-$39K-$39K—
Revenue From Contract With Customer Excluding Assessed Tax$185.8M$196M$187.5M$203.1M$211.6M$236.8M
Taxes other than income taxes and other – net$1.3M$2.2M$1.9M$2.6M$1.6M$2.5M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$185.8M$196M$187.5M$203.1M$211.6M$236.8M