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Texas Pacific Land TPL Water sales — Inter-segment revenues

Other product segments

Oil and gas royalties
$118.17M+6.2%
Produced water royalties
$33.53M+21.0%
Land sale
$20.94M
Easements and other surface-related income
$17.32M-5.0%

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Other financials

Income statement

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Revenue$236.8M+20.8%
Operating income$182.3M+21.5%
Net income$142.9M+18.4%
EPS (diluted)$2.07+18.3%

Balance sheet

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Cash & equivalents$248.2M-46.5%
Total debt$18.0M
Total equity$1.6B+29.0%
Total assets$1.8B+29.4%

Cash flow

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Operating cash flow$162.0M+3.4%
CapEx$426.0K
Free cash flow$90.2M

Valuation

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Market cap$27.3B+12.0%
Enterprise value$27.07B
P/E54.2×+1.4×
P/S32.5×-0.3×

Profitability

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Operating margin74.4%-1.6pp
Net margin60%-3.2pp
FCF margin58.6%

Returns & leverage

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Return on equity36.5%-3.1pp
Debt / equity
Current ratio4.2×-3.6×

Where this comes from

Reported directly by Texas Pacific Land in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Texas Pacific Land’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Texas Pacific Land's water sales — inter-segment revenues?
Texas Pacific Land (TPL) reported water sales — inter-segment revenues of $46.86M in Q1 2026.
How has Texas Pacific Land's water sales — inter-segment revenues changed year-over-year?
Texas Pacific Land's water sales — inter-segment revenues increased by 20.7% year-over-year, from $38.81M to $46.86M.
What is the long-term trend for Texas Pacific Land's water sales — inter-segment revenues?
Over 4 years (2021 to 2025), Texas Pacific Land's water sales — inter-segment revenues has grown at a 25.8% compound annual growth rate (CAGR), from $67.77M to $169.7M.
What does water sales — inter-segment revenues mean?
This metric represents the revenue generated by the water services segment through transactions with other internal business units of the corporation. It reflects the internal transfer pricing for water sourcing, treatment, and disposal services provided to support the company's own land and resource management activities. Monitoring this figure helps assess the scale of vertical integration and the internal demand for water-related infrastructure services.