Stock Analysis on Net
Stock Analysis on Net

Texas Pacific Land Corp. (NYSE:TPL)

Common-Size Income Statement 
Quarterly Data

Texas Pacific Land Corp., common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Oil and gas royalties 54.41 52.12 52.90 59.25 55.14 51.31 60.90 63.32 68.18 68.80 70.70 67.70 63.95 60.67 58.86 56.25 42.70 37.59 43.85 38.49 38.83 45.40 17.36
Water sales 20.86 23.59 21.32 15.84 16.73 23.44 14.85 12.58 12.78 12.64 12.77 15.48 15.81 13.00 15.40 9.53 16.32 15.43 27.92 17.54 21.98 23.40 12.01
Produced water royalties 15.98 14.68 13.21 13.46 13.20 12.98 13.76 12.81 10.01 10.59 10.09 10.15 12.24 16.11 14.91 16.59 16.46 24.03 12.95 0.00 0.00 0.00 0.00
Easements and other surface-related income 8.23 9.62 11.86 11.44 11.51 11.65 10.23 7.04 7.39 7.94 6.24 6.63 7.95 9.36 10.75 12.06 8.99 21.36 14.25 24.47 34.42 25.61 16.39
Land sales 0.52 0.00 0.71 0.00 3.42 0.62 0.27 4.25 1.64 0.04 0.19 0.05 0.06 0.85 0.08 5.57 15.53 1.59 1.04 19.51 4.78 5.59 54.23
Revenues 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Salaries and related employee expenses -8.08 -7.41 -7.16 -6.42 -7.28 -6.60 -7.24 -7.68 -5.60 -5.44 -6.37 -5.59 -6.91 -13.83 -11.86 -6.41 -10.32 -16.38 -10.99 -10.85 -8.66 -8.87 -3.38
Water service-related expenses -6.76 -8.60 -5.86 -5.44 -5.41 -6.40 -3.86 -2.89 -3.32 -2.22 -1.89 -1.86 -2.95 -3.70 -3.92 -3.93 -3.04 -3.97 -7.02 -4.75 -5.20 -6.55 -2.39
General and administrative expenses -2.32 -2.13 -2.83 -2.48 -2.47 -2.07 -2.43 -2.24 -1.65 -2.10 -2.04 -2.24 -2.30 -2.96 -3.33 -8.27 -2.62 -4.49 -3.06 -2.35 -2.91 -2.40 -1.12
Legal and professional fees -4.79 -1.34 -2.33 -1.83 -1.07 -6.32 -11.36 -2.45 -1.10 -0.66 -1.17 -1.62 -1.25 -1.19 -2.63 -4.96 -2.67 -4.78 -2.44 -1.06 -5.64 -9.00 -0.93
Ad valorem and other taxes -1.26 -0.84 -1.35 -1.18 -1.13 -1.29 -1.08 -1.31 -1.48 -1.14 -1.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Land sales expenses -0.10 0.00 -0.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation, depletion and amortization -3.32 -2.38 -2.21 -2.33 -2.27 -2.42 -2.33 -2.06 -2.05 -2.37 -2.80 -3.19 -3.13 -4.02 -4.56 -4.70 -5.05 -6.74 -3.45 -3.19 -2.67 -1.66 -0.63
Operating expenses -26.64% -22.70% -21.88% -19.68% -19.63% -25.11% -28.29% -18.65% -15.20% -13.93% -15.63% -14.48% -16.54% -25.71% -26.30% -28.28% -23.71% -36.35% -26.97% -22.21% -25.08% -28.48% -8.45%
Operating income 73.36% 77.30% 78.12% 80.32% 80.37% 74.89% 71.71% 81.35% 84.80% 86.07% 84.37% 85.52% 83.46% 74.29% 73.70% 71.72% 76.29% 63.65% 73.03% 77.79% 74.92% 71.52% 91.55%
Other income, net 4.66 7.67 5.71 6.76 5.05 4.28 3.68 2.57 1.00 0.36 0.05 -0.20 0.41 0.42 0.01 0.14 1.73 0.35 0.86 0.80 0.96 0.50 0.21
Income before income taxes 78.02% 84.98% 83.83% 87.08% 85.42% 79.17% 75.39% 83.92% 85.80% 86.42% 84.43% 85.31% 83.88% 74.72% 73.71% 71.86% 78.02% 64.00% 73.88% 78.59% 75.87% 72.02% 91.75%
Income tax expense -16.61 -18.48 -18.13 -19.21 -18.59 -16.66 -16.24 -18.61 -17.86 -18.97 -17.98 -31.61 -16.10 -15.25 -14.23 -13.69 -15.81 -13.45 -14.46 -17.60 -14.96 -15.23 -18.58
Net income 61.42% 66.49% 65.70% 67.87% 66.83% 62.51% 59.15% 65.31% 67.94% 67.45% 66.45% 53.71% 67.78% 59.47% 59.48% 58.16% 62.21% 50.55% 59.43% 60.99% 60.92% 56.79% 73.17%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Texas Pacific Land Corp. operating income as a percentage of revenues decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Texas Pacific Land Corp. income before income taxes as a percentage of revenues increased from Q1 2024 to Q2 2024 but then decreased significantly from Q2 2024 to Q3 2024.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Texas Pacific Land Corp. net income as a percentage of revenues increased from Q1 2024 to Q2 2024 but then decreased significantly from Q2 2024 to Q3 2024.