Short answer
Texas Pacific Land Corporation (TPL) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $203M (up 17.0% year over year) with net income of $121M.
Q3 2025 key financials · XBRL
- Revenue
- $203M
- +17.0% YoY · +8.3% QoQ
- Net income
- $121M
- +13.7% YoY · +4.4% QoQ
- Operating margin
- 73.4%
- EPS (diluted)
- $5.27
- +13.8% YoY · +4.4% QoQ
Source: XBRL data from the Texas Pacific Land Corporation (TPL) Q3 2025 10-Q on SEC EDGAR. USD.
Texas Pacific Land Corporation Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $203.1M for Q3 2025, up $29.5M (17%) YoY from $173.6M in Q3 2024
- Net income $121.2M for Q3 2025 vs $106.6M YoY; operating margin approx. 73.4% (Operating income $149.1M/$203.1M) vs 73.3% YoY
- Best segment: Land and Resource Management Q3 revenue $122.3M (+$15.6M YoY), Net income approx. $80.8M; worst: Water Services Q3 margin lower (operating income $50.6M on $80.8M revenue)
- Cash and equivalents $531.8M as of 9/30/2025; operating cash flow $432.2M YTD up from $364.1M; acquisitions $31.4M in Q3, credit facility $500M opened after period end, currently undrawn
- Management notes oil price decline 14% YTD hurt royalties but natural gas prices up 64%; planning capital deployment with $700M cash target, focusing on water treatment tech and potential capital return
Risk Factors
- No material changes in risk factors since 2024 Annual Report
- Significant carried-forward risk: commodity price volatility impacting revenue and cash flow
- Regulatory risk: ongoing compliance with Texas and federal land management laws
- Operational risk: dependence on sales from 1.1 million surface acres for near-term cash flow
- Financial risk: concentration of mineral reserves in Texas, potential exposure to regional market fluctuations
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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