The financials
Texas Pacific Land Corporation by the numbers
Texas Pacific Land Corporation (TPL) reported revenue of $246M in Q2 2026 (quarter ended June 30, 2026), up 31% from the same quarter a year earlier. That came with net income of $154M (63% of revenue). For the full year FY2025, revenue was $798M (+13% year on year) and net income $481M. Its largest product in 2026-Q1 was Oil And Gas Royalties at $118M, 50% of the disclosed total, just ahead of Water Sales And Royalties at 20%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $246M | $188M | +31% |
| Operating income | $192M | $144M | +33% |
| Net income | $154M | $116M | +33% |
| Diluted EPS | $2.23 | $1.68 | +33% |
| Product | Revenue | Share |
|---|---|---|
| Oil And Gas Royalties | $118M | 50% |
| Water Sales And Royalties | $47M | 20% |
| Produced Water Royalties | $34M | 14% |
| Land Sale | $21M | 8.8% |
| Easementand Sundry | $17M | 7.3% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $236.8M (+17%)
Produced Water Royalties grew +21% year on yearEasement and Sundry -5.0% year on year
Segment Latestquarter on quarteryear on year
- Oil And Gas Royalties$118.2M$118.2MQoQ +8.7%year on year +6.2%+8.7%+6.2%
- Water Sales And Royalties$46.9M$46.9MQoQ +5.1%year on year +21%+5.1%+21%
- Produced Water Royalties$33.5M$33.5MQoQ +3.9%year on year +21%+3.9%+21%
- Land Sale$20.9M$20.9MQoQ -year on year ---
- Easement and Sundry$17.3M$17.3MQoQ +3.6%year on year -5.0%+3.6%-5.0%
- Land Sales--QoQ -year on year ---
Oil & Gas E&P
Ranks #13 of 30 by Smart Score