TPLTexas Pacific Land Corporation
The financials
Texas Pacific Land Corporation by the numbers
Texas Pacific Land Corporation (TPL) reported revenue of $273M in Q3 2026 (quarter ended Sep 30, 2026), up 35% from the same quarter a year earlier. That came with net income of $167M (61% of revenue). For the full year FY2025, revenue was $798M (+13% year on year) and net income $481M. Its largest product in Q2 2026 (quarter ended Jun 30, 2026) was Oil And Gas Royalties at $146M, 59% of the disclosed total, well ahead of Water Sales at 16%. The next results filing is expected around Feb 17, 2027, the same week as a year ago.
| Income statement | Q3 2026 | Q3 2025 | Change |
|---|---|---|---|
| Revenue | $273M | $203M | +35% |
| Operating income | $208M | $149M | +39% |
| Net income | $167M | $121M | +38% |
| Diluted EPS | $2.42 | $1.76 | +38% |
| Product | Revenue | Share |
|---|---|---|
| Oil And Gas Royalties | $146M | 59% |
| Water Sales | $40M | 16% |
| Produced Water Royalties | $37M | 15% |
| Easementand Sundry | $24M | 9.6% |
Over its last three fiscal years Texas Pacific Land Corporation booked income tax of 21.4% of its pretax profit, close to the 21.3% median for US companies in our tax study.
Business segments
Revenue split by product segment, from SEC XBRL filings.
- Oil And Gas Royalties$145.6M$145.6Mvs last quarter +23%vs a year ago +53%+23%+53%
- Water Sales$39.7M$39.7Mvs last quarter n/avs a year ago +55%n/a+55%
- Produced Water Royalties$37.1M$37.1Mvs last quarter +11%vs a year ago +21%+11%+21%
- Easement and Sundry$23.7M$23.7Mvs last quarter +37%vs a year ago -35%+37%-35%
- Land Sale$0.00$0.00vs last quarter -100%vs a year ago n/a-100%n/a
Oil & Gas E&P
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