Texas Pacific Land TPL Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Other income, net by Business | ||||||
| LRM | $1.58M-53.7% | $2.53M-60.0% | $4.83M-25.1% | $4.16M-62.3% | $3.42M-56.9% | |
| WSO | $647K-28.5% | $682K-67.8% | $1.26M-23.1% | $1.08M-50.9% | $905K-55.0% | |
| Net Income by Business | ||||||
| LRM | $100.92M+18.0% | $69.54M-15.1% | $80.76M+12.4% | $86.57M+8.0% | $85.54M+5.6% | |
| WSO | $41.98M+19.6% | $53.8M+47.7% | $40.48M+16.6% | $29.57M-14.2% | $35.11M+5.0% | |
| Inter-segment revenues by Business | ||||||
| LRM | $153.56M+21.3% | $113.38M-4.4% | $122.27M+14.6% | $128.5M+23.5% | $126.58M+13.5% | |
| WSO | $83.26M+20.0% | $98.2M+46.2% | $80.82M+20.8% | $59.05M-13.6% | $69.4M+10.8% | |
| Pre-Tax Income by Business | ||||||
| LRM | $129.57M+18.4% | $85.11M-18.5% | $103.3M+13.2% | $110.98M+8.5% | $109.4M+6.0% | |
| WSO | $53.99M+20.0% | $66.66M+43.3% | $51.88M+17.4% | $38.01M-13.8% | $44.99M+5.2% | |
| Total Operating Expenses by Business | ||||||
| LRM | $24.78M+20.3% | $30.25M+47.8% | $23.8M+8.8% | $21.67M+70.3% | $20.6M+27.2% | |
| WSO | $29.71M+17.4% | $32.08M+40.9% | $30.2M+23.9% | $22.12M-16.2% | $25.32M+15.5% | |
| Income Tax by Business | ||||||
| LRM | $28.65M+20.1% | $15.57M-30.9% | $22.54M+16.4% | $24.41M+10.0% | $23.86M+7.2% | |
| WSO | $12.01M+21.5% | $12.85M+27.6% | $11.41M+20.5% | $8.44M-12.6% | $9.88M+6.2% | |
| Total consolidated property, plant and equipment, net by Business | ||||||
| LRM | $7.26M+57.6% | $7.34M+52.7% | $7.67M+55.3% | $4.57M-9.9% | $4.61M-11.0% | |
| WSO | $159.49M+28.8% | $157.2M+33.5% | $129.86M+13.7% | $123.38M+36.4% | $123.86M+42.3% | |
| Total consolidated assets by Business | ||||||
| LRM | $1.46B+29.1% | $1.33B+30.1% | $1.29B+35.2% | $1.19B+5.7% | $1.13B+5.5% | |
| WSO | $295.08M+30.8% | $291.1M+30.1% | $234.22M+5.9% | $217.78M+12.8% | $225.58M+18.7% | |
| Operating Income by Business | ||||||
| LRM | $128.78M+21.5% | $83.13M-15.3% | $98.47M+16.1% | $106.82M+17.0% | $105.99M+11.2% | |
| WSO | $53.55M+21.5% | $66.11M+48.9% | $50.62M+19.0% | $36.93M-11.9% | $44.09M+8.2% | |
| Interest Expense, Nonoperating by Business | ||||||
| LRM | $793K— | —— | —— | —— | $0— | |
| WSO | $199K— | —— | —— | —— | $0— | |
| Salaries and related employee expenses by Business | ||||||
| LRM | $7.56M+2.1% | $7.46M+1.2% | $7.3M+1.6% | $7.03M+8.4% | $7.4M+14.5% | |
| WSO | $7.43M+3.6% | $7.44M+6.3% | $7.09M+3.5% | $7.05M+12.0% | $7.17M+19.5% | |
| Total purchases of fixed assets by Business | ||||||
| LRM | $217K+7,133% | $68K-1.4% | $10.05M+15,127% | $161K+73.1% | $3K-94.1% | |
| WSO | $6.7M-32.3% | $31.56M+329% | $10.56M+8.1% | $3.65M-43.1% | $9.91M+76.5% | |
| Ad valorem and other taxes by Business | ||||||
| LRM | $2.53M+15.6% | $1.55M+22.2% | $2.61M+19.4% | $1.86M+29.2% | $2.19M-7.1% | |
| WSO | $12K+20.0% | $11K-69.4% | $11K— | $13K+1,200% | $10K+900% | |
| General and administrative expenses by Business | ||||||
| LRM | $5.5M+65.9% | $3.97M-12.0% | $3.43M-66.9% | $3.65M-8.5% | $3.31M-50.4% | |
| WSO | $3.14M+13.7% | $2.46M+9.6% | $2.16M0.0% | $2.05M+2.7% | $2.76M+7.9% | |
| Depreciation, depletion and amortization by Business | ||||||
| LRM | $9.19M+19.6% | $17.28M+136% | $10.45M+390% | $9.14M+1,024% | $7.69M+1,010% | |
| WSO | $4.85M+14.0% | $4.65M+12.4% | $4.51M+24.3% | $4.56M+39.1% | $4.25M+35.1% | |
| Water service-related expenses by Business | ||||||
| LRM | $0— | $0— | $0— | $0— | $0— | |
| WSO | $14.29M+28.4% | $17.52M+87.3% | $16.43M+40.0% | $8.45M-43.0% | $11.13M+9.0% | |
| Inter-segment revenues by Product | ||||||
| Easements and other surface-related income | $17.32M-5.0% | $20.61M-5.3% | $16.72M+17.1% | $36.22M+119% | $18.23M-11.7% | |
| Land sale | $20.94M— | —— | —— | —— | $0— | |
| Oil and gas royalties | $118.17M+6.2% | $96.72M-0.2% | $108.71M+15.1% | $95.01M+5.8% | $111.25M+20.8% | |
| Produced water royalties | $33.53M+21.0% | $33.51M+19.3% | $32.27M+16.4% | $30.74M+21.5% | $27.7M+20.4% | |
| Water sales | $46.86M+20.7% | $60.73M+65.3% | $44.58M+23.1% | $25.58M-37.1% | $38.81M+4.5% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Texas Pacific Land break its business down?
- Texas Pacific Land (TPL) reports other income, net by business across 2 parts — LRM and WSO. Each is extracted from the segment footnotes and tracked over time.
- Where does Texas Pacific Land's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Texas Pacific Land's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
