Texas Pacific Land Corporation (TPL) - Net Assets
Based on the latest financial reports, Texas Pacific Land Corporation (TPL) has net assets worth $1.56 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.75 Billion) and total liabilities ($195.51 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check TPL goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.56 Billion |
| % of Total Assets | 88.84% |
| Annual Growth Rate | 17.95% |
| 5-Year Change | 123.86% |
| 10-Year Change | 2963.35% |
| Growth Volatility | 44.97 |
Texas Pacific Land Corporation - Net Assets Trend (1995–2025)
This chart illustrates how Texas Pacific Land Corporation's net assets have evolved over time, based on quarterly financial data. See TPL cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Texas Pacific Land Corporation (1995–2025)
The table below shows the annual net assets of Texas Pacific Land Corporation from 1995 to 2025. For live valuation and market cap data, see Texas Pacific Land Corporation market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.46 Billion | +28.83% |
| 2024-12-31 | $1.13 Billion | +8.56% |
| 2023-12-31 | $1.04 Billion | +34.97% |
| 2022-12-31 | $772.89 Million | +18.59% |
| 2021-12-31 | $651.71 Million | +34.32% |
| 2020-12-31 | $485.18 Million | -5.26% |
| 2019-12-31 | $512.14 Million | +109.30% |
| 2018-12-31 | $244.69 Million | +208.98% |
| 2017-12-31 | $79.19 Million | +66.29% |
| 2016-12-31 | $47.62 Million | +4.24% |
| 2015-12-31 | $45.69 Million | +70.99% |
| 2014-12-31 | $26.72 Million | +49.03% |
| 2013-12-31 | $17.93 Million | +14.96% |
| 2012-12-31 | $15.60 Million | -24.10% |
| 2011-12-31 | $20.55 Million | +12.27% |
| 2010-12-31 | $18.30 Million | -7.11% |
| 2009-12-31 | $19.70 Million | -16.24% |
| 2008-12-31 | $23.52 Million | -5.48% |
| 2007-12-31 | $24.89 Million | +1.84% |
| 2006-12-31 | $24.44 Million | -0.71% |
| 2005-12-31 | $24.61 Million | +8.41% |
| 2004-12-31 | $22.71 Million | +62.29% |
| 2003-12-31 | $13.99 Million | +0.06% |
| 2002-12-31 | $13.98 Million | +5.95% |
| 2001-12-31 | $13.20 Million | +17.12% |
| 2000-12-31 | $11.27 Million | -4.07% |
| 1999-12-31 | $11.75 Million | -13.89% |
| 1998-12-31 | $13.64 Million | +11.62% |
| 1997-12-31 | $12.22 Million | +20.70% |
| 1996-12-31 | $10.13 Million | -1.64% |
| 1995-12-31 | $10.29 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Texas Pacific Land Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 8812.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.60 Billion | 109.36% |
| Common Stock | $691.00K | 0.05% |
| Other Comprehensive Income | $4.15 Million | 0.28% |
| Total Equity | $1.46 Billion | 100.00% |
Texas Pacific Land Corporation Competitors by Market Cap
The table below lists competitors of Texas Pacific Land Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Bank Mandiri Persero Tbk PT
JK:BMRI
|
$24.61 Billion |
|
Public Bank Bhd
KLSE:1295
|
$24.61 Billion |
|
Koninklijke Philips NV
AS:PHIA
|
$24.62 Billion |
|
Zhejiang Sanhua Co Ltd
SHE:002050
|
$24.64 Billion |
|
HEXAGON AB ADR/1
F:HXGC
|
$24.56 Billion |
|
Telefónica S.A
MX:TEFN
|
$24.55 Billion |
|
Constellation Brands Inc Class A
NYSE:STZ
|
$24.55 Billion |
|
Novonesis (Novozymes) A/S
CO:NSIS-B
|
$24.52 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Texas Pacific Land Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,132,465,000 to 1,458,907,000, a change of 326,442,000 (28.8%).
- Net income of 481,376,000 contributed positively to equity growth.
- Dividend payments of 147,798,000 reduced retained earnings.
- Share repurchases of 23,175,000 reduced equity.
- Other comprehensive income increased equity by 567,000.
- Other factors increased equity by 15,472,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $481.38 Million | +33.0% |
| Dividends Paid | $147.80 Million | -10.13% |
| Share Repurchases | $23.18 Million | -1.59% |
| Other Comprehensive Income | $567.00K | +0.04% |
| Other Changes | $15.47 Million | +1.06% |
| Total Change | $- | 28.83% |
Book Value vs Market Value Analysis
This analysis compares Texas Pacific Land Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 16.86x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 10628.65x to 16.86x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $0.03 | $356.35 | x |
| 1986-12-31 | $0.03 | $356.35 | x |
| 1987-12-31 | $0.03 | $356.35 | x |
| 1988-12-31 | $0.03 | $356.35 | x |
| 1989-12-31 | $0.03 | $356.35 | x |
| 1990-12-31 | $0.03 | $356.35 | x |
| 1991-12-31 | $0.02 | $356.35 | x |
| 1992-12-31 | $0.02 | $356.35 | x |
| 1993-12-31 | $0.02 | $356.35 | x |
| 1994-12-31 | $0.03 | $356.35 | x |
| 1995-12-31 | $0.03 | $356.35 | x |
| 1996-12-31 | $0.03 | $356.35 | x |
| 1997-12-31 | $0.03 | $356.35 | x |
| 1998-12-31 | $0.04 | $356.35 | x |
| 1999-12-31 | $0.03 | $356.35 | x |
| 2000-12-31 | $0.03 | $356.35 | x |
| 2001-12-31 | $0.04 | $356.35 | x |
| 2002-12-31 | $0.04 | $356.35 | x |
| 2003-12-31 | $0.05 | $356.35 | x |
| 2004-12-31 | $0.08 | $356.35 | x |
| 2005-12-31 | $0.08 | $356.35 | x |
| 2006-12-31 | $0.08 | $356.35 | x |
| 2007-12-31 | $0.09 | $356.35 | x |
| 2008-12-31 | $0.08 | $356.35 | x |
| 2009-12-31 | $0.07 | $356.35 | x |
| 2010-12-31 | $0.07 | $356.35 | x |
| 2011-12-31 | $0.08 | $356.35 | x |
| 2012-12-31 | $0.58 | $356.35 | x |
| 2013-12-31 | $0.23 | $356.35 | x |
| 2014-12-31 | $0.35 | $356.35 | x |
| 2015-12-31 | $5.57 | $356.35 | x |
| 2016-12-31 | $5.96 | $356.35 | x |
| 2017-12-31 | $10.08 | $356.35 | x |
| 2018-12-31 | $31.42 | $356.35 | x |
| 2019-12-31 | $7.34 | $356.35 | x |
| 2020-12-31 | $20.85 | $356.35 | x |
| 2021-12-31 | $9.34 | $356.35 | x |
| 2022-12-31 | $11.11 | $356.35 | x |
| 2023-12-31 | $45.24 | $356.35 | x |
| 2024-12-31 | $16.40 | $356.35 | x |
| 2025-12-31 | $21.14 | $356.35 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Texas Pacific Land Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 33.00%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 60.31%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 1.11x
- Recent ROE (33.00%) is below the historical average (51.49%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 39.11% | 57.38% | 0.50x | 1.36x | $5.21 Million |
| 1986 | 17.61% | 50.00% | 0.26x | 1.33x | $1.34 Million |
| 1987 | 16.77% | 50.00% | 0.26x | 1.30x | $1.09 Million |
| 1988 | 14.84% | 46.94% | 0.24x | 1.30x | $750.00K |
| 1989 | 18.42% | 51.85% | 0.28x | 1.28x | $1.28 Million |
| 1990 | 21.54% | 50.00% | 0.34x | 1.25x | $1.50 Million |
| 1991 | 19.66% | 46.94% | 0.32x | 1.32x | $1.13 Million |
| 1992 | 18.35% | 46.51% | 0.30x | 1.30x | $910.00K |
| 1993 | 18.48% | 32.08% | 0.40x | 1.45x | $780.00K |
| 1994 | 45.87% | 54.95% | 0.61x | 1.38x | $3.91 Million |
| 1995 | 32.34% | 51.69% | 0.46x | 1.35x | $2.30 Million |
| 1996 | 42.11% | 49.69% | 0.63x | 1.35x | $3.25 Million |
| 1997 | 54.88% | 51.29% | 0.78x | 1.36x | $5.48 Million |
| 1998 | 44.23% | 57.57% | 0.56x | 1.38x | $4.67 Million |
| 1999 | 25.01% | 49.59% | 0.37x | 1.35x | $1.76 Million |
| 2000 | 33.35% | 48.19% | 0.51x | 1.36x | $2.63 Million |
| 2001 | 52.18% | 51.28% | 0.76x | 1.34x | $5.57 Million |
| 2002 | 35.05% | 53.72% | 0.49x | 1.34x | $3.50 Million |
| 2003 | 38.10% | 53.55% | 0.54x | 1.31x | $3.93 Million |
| 2004 | 76.69% | 59.75% | 0.94x | 1.37x | $15.14 Million |
| 2005 | 34.58% | 55.25% | 0.48x | 1.31x | $6.05 Million |
| 2006 | 47.34% | 51.51% | 0.69x | 1.33x | $9.13 Million |
| 2007 | 33.15% | 53.34% | 0.47x | 1.31x | $5.76 Million |
| 2008 | 46.50% | 56.69% | 0.63x | 1.31x | $8.59 Million |
| 2009 | 35.09% | 52.84% | 0.49x | 1.36x | $4.94 Million |
| 2010 | 61.79% | 56.36% | 0.80x | 1.37x | $9.48 Million |
| 2011 | 100.23% | 61.62% | 1.22x | 1.34x | $18.54 Million |
| 2012 | 125.98% | 60.29% | 1.54x | 1.36x | $18.09 Million |
| 2013 | 151.81% | 61.71% | 1.97x | 1.25x | $25.43 Million |
| 2014 | 130.11% | 62.98% | 1.67x | 1.24x | $32.09 Million |
| 2015 | 109.52% | 63.01% | 1.57x | 1.10x | $45.47 Million |
| 2016 | 78.19% | 62.16% | 0.96x | 1.31x | $32.48 Million |
| 2017 | 96.42% | 57.71% | 1.04x | 1.61x | $68.44 Million |
| 2018 | 85.71% | 69.86% | 1.05x | 1.17x | $185.27 Million |
| 2019 | 62.66% | 65.43% | 0.82x | 1.17x | $269.71 Million |
| 2020 | 36.28% | 58.19% | 0.53x | 1.18x | $127.53 Million |
| 2021 | 41.43% | 59.87% | 0.59x | 1.17x | $204.81 Million |
| 2022 | 57.75% | 66.88% | 0.76x | 1.14x | $369.07 Million |
| 2023 | 38.88% | 64.23% | 0.55x | 1.11x | $301.33 Million |
| 2024 | 40.09% | 64.32% | 0.57x | 1.10x | $340.71 Million |
| 2025 | 33.00% | 60.31% | 0.49x | 1.11x | $335.49 Million |
Industry Comparison
This section compares Texas Pacific Land Corporation's net assets metrics with peer companies in the Oil & Gas E&P industry.
Industry Context
- Industry: Oil & Gas E&P
- Average net assets among peers: $1,939,262,830
- Average return on equity (ROE) among peers: -34.49%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Texas Pacific Land Corporation (TPL) | $1.56 Billion | 39.11% | 0.13x | $24.58 Billion |
| Amplify Energy Corp (AMPY) | $-64.84 Million | 0.00% | 0.00x | $165.14 Million |
| AleAnna, Inc. Class A Common Stock (ANNA) | $1.22 Million | -424.63% | 26.72x | $105.31 Million |
| APA Corporation (APA) | $6.53 Billion | 17.17% | 0.90x | $12.11 Billion |
| Antero Resources Corp (AR) | $8.88 Billion | 6.93% | 0.72x | $10.51 Billion |
| Battalion Oil Corp (BATL) | $-526.00K | 0.00% | 0.00x | $31.10 Million |
| BKV Corporation (BKV) | $1.20 Billion | 34.29% | 1.26x | $2.65 Billion |
| Barnwell Industries Inc (BRN) | $19.95 Million | 3.37% | 1.75x | $15.66 Million |
| Berry Petroleum Corp (BRY) | $2.30 Billion | -0.87% | 1.22x | $253.00 Million |
| Black Stone Minerals LP (BSM) | $488.04 Million | 18.79% | 1.46x | $2.83 Billion |
| Chord Energy Corp (CHRD) | $48.45 Million | 0.00% | 0.73x | $5.96 Billion |
About Texas Pacific Land Corporation
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The Land and Resource Management segment manages surface acres of land, and oil and gas royalty interest in Permian Basin. This segment also engages in easements, such as transporting oil, gas and related hydrocarbons, power line and utility, and subsurface wellbore easements.… Read more