Texas Pacific Land Corporation FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $798.2M |
| Gross margin | — not reported |
| Operating income | $592.2M |
| Net income | $481.4M |
| Diluted EPS | $6.97 |
| Cash & equivalents | $144.8M |
| Total assets | $1.6B |
| Long-term debt | — not reported |
Key takeaway
Revenue and net income both grew year-over-year, driven by increased oil and gas production volumes, higher water sales, and produced water royalty growth despite lower average commodity prices.
🔒 4 more takeaways in the full analysis
Beneath the surface
Cash dropped to $144.8 million, far below the company's own stated $700 million target balance, due to $595.8 million in investing outflows including a $450.7 million royalty acquisition and $50 million Bolt investment, indicating the company is currently well under its self-defined liquidity buffer despite having no debt.
🔒 4 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 8 more findings — plus insider trades, activist stakes, and 8-K events for TPL.
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