# Texas Pacific Land Corp: overview

TPL · NYSE · CIK 1811074 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/tpl.md) · [Financials](/companies/tpl/financials.md) · [Filings](/companies/tpl/filings.md) · [Insiders](/companies/tpl/insiders.md)

Latest reported revenue: [$246.1m](/filings/0001811074-26-000058.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 5, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001811074-26-000058).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [174](/filings/0001811074-25-000096.md) | [186 d](/filings/0001811074-26-000018.md) | [196](/filings/0001811074-26-000035.md) | [188](/filings/0001811074-26-000058.md) | [203](/filings/0001811074-25-000096.md) | [212 d](/filings/0001811074-26-000018.md) | [237](/filings/0001811074-26-000035.md) | [246](/filings/0001811074-26-000058.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [73.4%](/filings/0001811074-25-000096.md) | [76.7% d](/filings/0001811074-26-000018.md) | [76.6%](/filings/0001811074-26-000035.md) | [76.6%](/filings/0001811074-26-000058.md) | [73.4%](/filings/0001811074-25-000096.md) | [70.5% d](/filings/0001811074-26-000018.md) | [77.0%](/filings/0001811074-26-000035.md) | [78.0%](/filings/0001811074-26-000058.md) |
| Net margin | % | [61.4%](/filings/0001811074-25-000096.md) | [63.7% d](/filings/0001811074-26-000018.md) | [61.6%](/filings/0001811074-26-000058.md) | [61.9%](/filings/0001811074-26-000058.md) | [59.7%](/filings/0001811074-25-000096.md) | [58.3% d](/filings/0001811074-26-000018.md) | [60.3%](/filings/0001811074-26-000058.md) | [62.6%](/filings/0001811074-26-000058.md) |
| Diluted EPS | $ per share | [4.63](/filings/0001811074-25-000096.md) | not reported | [1.75](/filings/0001811074-26-000035.md) | [1.68](/filings/0001811074-26-000058.md) | [5.27](/filings/0001811074-25-000096.md) | not reported | [2.07](/filings/0001811074-26-000035.md) | [2.23](/filings/0001811074-26-000058.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [451](/filings/0001811074-24-000015.md) | [667](/filings/0001811074-25-000044.md) | [632](/filings/0001811074-26-000018.md) | [706](/filings/0001811074-26-000018.md) | [798](/filings/0001811074-26-000018.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [80.4%](/filings/0001811074-24-000015.md) | [84.3%](/filings/0001811074-25-000044.md) | [77.0%](/filings/0001811074-26-000018.md) | [76.4%](/filings/0001811074-26-000018.md) | [74.2%](/filings/0001811074-26-000018.md) |
| Net margin | % | [59.9%](/filings/0001811074-24-000015.md) | [66.9%](/filings/0001811074-25-000044.md) | [64.2%](/filings/0001811074-26-000018.md) | [64.3%](/filings/0001811074-26-000018.md) | [60.3%](/filings/0001811074-26-000018.md) |
| Diluted EPS | $ per share | [34.83](/filings/0001811074-24-000015.md) | [19.26](/filings/0001811074-25-000044.md) | [5.86](/filings/0001811074-26-000018.md) | [6.57](/filings/0001811074-26-000018.md) | [6.97](/filings/0001811074-26-000018.md) |
| Free cash flow | $m | [249](/filings/0001811074-24-000015.md) | [428](/filings/0001811074-25-000044.md) | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/tpl/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [HORIZON KINETICS ASSET MANAGEMENT LLC](/funds/1056823.md) | 2026-06-30 | $4.29bn | 9,802,899 |  | Reduced −212,480 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $2.32bn | 5,296,254 |  | Reduced −656,261 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $1.74bn | 3,964,748 |  | Added +179,791 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $1.67bn | 3,808,863 |  | Added +25,178 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $1.39bn | 3,184,079 |  | Added +41,227 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $717.9m | 1,646,584 |  | Added +13,188 |
| [FIRST MANHATTAN CO. LLC.](/funds/728083.md) | 2026-06-30 | $466.0m | 1,064,741 |  | Added +1,972 |
| [SoftVest Advisors, LLC](/funds/1803391.md) | 2026-06-30 | $464.8m | 1,062,099 |  | Unchanged |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $425.5m | 972,321 |  | Added +7,845 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $313.2m | 715,743 |  | Added +93,568 |

## Recent filings

[All 1,687 filings](/companies/tpl/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-09-25 | 16:37 ET | [8-K](/filings/0001104659-26-111009.md) | 5.02 Departure or appointment of officers or directors; 5.08 Item not in the standard list | 0001104659-26-111009 |
| 2026-09-25 | 16:05 ET | [DEF 14A](/filings/0001104659-26-110963.md) | Proxy statement, period 2026-11-05 | 0001104659-26-110963 |
| 2026-08-05 | 16:18 ET | [10-Q](/filings/0001811074-26-000058.md) | Quarterly report, period 2026-06-30 | 0001811074-26-000058 |
| 2026-08-05 | 16:16 ET | [8-K](/filings/0001811074-26-000056.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001811074-26-000056 |
| 2026-06-23 | 16:16 ET | [8-K](/filings/0001811074-26-000045.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001811074-26-000045 |
| 2026-05-18 | 08:01 ET | [8-K](/filings/0001811074-26-000040.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001811074-26-000040 |
| 2026-05-07 | 15:03 ET | [SCHEDULE 13D/A](/filings/0001056823-26-000015.md) | Ownership report, active investor, amended | 0001056823-26-000015 |
| 2026-05-06 | 16:22 ET | [10-Q](/filings/0001811074-26-000035.md) | Quarterly report, period 2026-03-31 | 0001811074-26-000035 |
| 2026-05-06 | 16:18 ET | [8-K](/filings/0001811074-26-000033.md) | 1.01 Entry into a material agreement; 2.02 Results of operations; 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001811074-26-000033 |
| 2026-04-13 | 15:12 ET | [SCHEDULE 13D/A](/filings/0001437749-26-012132.md) | Ownership report, active investor, amended | 0001437749-26-012132 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001811074-26-000018.md), filed Feb 18, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/8c2b2d5a-6627-47a1-a160-25da8cb1abc1)

## About the filer

- CIK: 1811074
- Tickers: TPL
- Exchange: NYSE
- SIC code: 6792 Oil Royalty Traders
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 14:14 ET. No prices; not investment advice.