← Texas Pacific Land Corp
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $303.6m | $281.0m | $428.2m | $510.8m | $725.2m | $369.8m | $144.8m | |
| Accounts receivable and accrued receivables, net | $63.0m | $48.2m | $95.2m | $104.0m | $129.0m | $126.7m | $164.9m | |
| Prepaid expenses and other current assets | — | $1.3m | $3.1m | $7.4m | $2.9m | $5.3m | $5.3m | |
| Prepaid income taxes | — | — | $0 | $4.8m | $0 | $0 | $3.7m | |
| Total current assets | — | $332.5m | $526.5m | $633.4m | $862.5m | $503.4m | $319.3m | |
| Property, plant and equipment, net | $88.3m | $79.3m | $79.7m | $85.5m | $89.6m | $122.6m | $164.5m | |
| Intangible assets, net | — | — | — | $0 | $21.0m | $35.2m | $32.8m | |
| Operating lease right-of-use assets | $3.1m | $2.5m | $1.8m | $2.5m | $1.9m | $1.2m | $13.7m | |
| Other assets | $4.0m | $4.5m | $2.5m | $1.3m | $4.8m | $10.1m | $23.7m | |
| Tax like-kind exchange escrow | $0 | $2.0m | $0 | $6.3m | $5.4m | $1.5m | $595k | |
| Royalty interests acquired, net | $29.1m | $45.6m | $44.4m | $45.0m | $46.6m | $432.4m | $840.0m | |
| Real estate acquired | $107.1m | $108.5m | $109.1m | $109.7m | $130.0m | $143.2m | $179.1m | |
| Land (surface rights) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| 1/16th and 1/128th nonparticipating perpetual royalty interests | — | — | — | — | $0 | $0 | $0 | |
| Equity investment | — | — | — | — | — | $0 | $50.0m | |
| Ad valorem and other taxes payable | — | — | $101k | $8.0m | $10.8m | $8.4m | $8.9m | |
| Income taxes payable | $5.3m | $4.1m | $29.1m | $3.2m | $4.8m | $4.4m | $4.0m | |
| Credit facility | — | — | — | — | — | $0 | $0 | |
| Deferred taxes payable | $40.8m | $38.7m | $38.9m | $41.2m | $42.4m | $47.4m | $54.1m | |
| Operating lease liabilities | $3.4m | $2.8m | $1.4m | $2.0m | $1.2m | $453k | $16.2m | |
| Total equity | $512.1m | $485.2m | $651.7m | $772.9m | $1.0b | $1.1b | $1.5b | |
| Total assets | $598.2m | $571.6m | $764.1m | $877.4m | $1.2b | $1.2b | $1.6b | |
| Accounts payable and accrued expenses | $19.2m | $14.7m | $18.0m | $23.9m | $22.5m | $27.0m | $39.6m | |
| Unearned revenue | $17.4m | $26.2m | $3.8m | $4.5m | $6.3m | $6.8m | $20.1m | |
| Unearned revenue - noncurrent | — | $22.2m | $20.4m | $21.7m | $25.0m | $20.6m | $21.1m | |
| Accrued liabilities - noncurrent | — | $2.1m | $611k | $131k | $274k | $504k | $413k | |
| Total current liabilities | — | $21.4m | $50.9m | $39.6m | $44.4m | $46.6m | $72.6m | |
| Total liabilities | $86.0m | $86.5m | $112.4m | $104.5m | $113.2m | $115.6m | $164.4m | |
| Commitments and contingencies (Note 14) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Preferred stock, $0.01 par value; 1,000,000 shares authorized, none outstanding as of December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.01 par value; 139,610,808 shares authorized as of December 31, 2025 and December 31, 2024, 68,938,230 and 68,915,409 outstanding as of December 31, 2025 and December 31, 2024, respectively | 0 | 0 | 702k | 702k | 702k | 693k | 691k | |
| Treasury stock, at cost; 319,998 and 342,819 shares as of December 31, 2025 and December 31, 2024, respectively | — | — | — | — | — | ($168.8m) | ($151.2m) | |
| Additional paid-in capital | — | $0 | $28k | $8.3m | $14.6m | $19.9m | $9.9m | |
| Accumulated other comprehensive income | ($1.5m) | ($2.7m) | ($1.0m) | $2.5m | $1.8m | $3.6m | $4.2m | |
| Retained earnings | — | $487.9m | $668.0m | $866.1m | $1.2b | $1.3b | $1.6b | |
| Total liabilities and equity | $598.2m | $571.6m | $764.1m | $877.4m | $1.2b | $1.2b | $1.6b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.