Stock Analysis on Net
Stock Analysis on Net

Texas Pacific Land Corp. (NYSE:TPL)

This company has been moved to the archive! The financial data has not been updated since November 6, 2024.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Texas Pacific Land Corp., adjusted financial ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Activity Ratio
Total Asset Turnover
Reported 0.55 0.76 0.59 0.53 0.82
Adjusted 0.55 0.76 0.59 0.54 0.83
Liquidity Ratio
Current Ratio
Reported 19.43 16.00 10.34 15.56 14.99
Adjusted 22.67 18.05 11.18 19.14 14.99
Solvency Ratios
Debt to Equity
Reported 0.00 0.00 0.00 0.00 0.00
Adjusted 0.00 0.00 0.00 0.01 0.01
Debt to Capital
Reported 0.00 0.00 0.00 0.00 0.00
Adjusted 0.00 0.00 0.00 0.01 0.01
Financial Leverage
Reported 1.11 1.14 1.17 1.18 1.17
Adjusted 1.04 1.04 1.07 1.04 1.05
Profitability Ratios
Net Profit Margin
Reported 64.23% 66.88% 59.87% 58.19% 64.98%
Adjusted 64.63% 67.70% 60.02% 58.24% 70.45%
Return on Equity (ROE)
Reported 38.88% 57.75% 41.43% 36.28% 62.23%
Adjusted 36.84% 53.92% 37.70% 32.96% 61.08%
Return on Assets (ROA)
Reported 35.08% 50.87% 35.33% 30.80% 53.28%
Adjusted 35.58% 51.64% 35.27% 31.71% 58.24%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Texas Pacific Land Corp. adjusted total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Texas Pacific Land Corp. adjusted current ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Texas Pacific Land Corp. adjusted debt-to-equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Texas Pacific Land Corp. adjusted debt-to-capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Texas Pacific Land Corp. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Texas Pacific Land Corp. adjusted net profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Texas Pacific Land Corp. adjusted ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Texas Pacific Land Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Texas Pacific Land Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Revenues 631,595 667,422 450,958 302,554 490,496
Total assets 1,156,398 877,427 764,064 571,635 598,176
Activity Ratio
Total asset turnover1 0.55 0.76 0.59 0.53 0.82
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted revenues2 636,735 669,360 449,048 311,341 494,508
Adjusted total assets3 1,156,598 877,627 764,164 571,735 598,176
Activity Ratio
Adjusted total asset turnover4 0.55 0.76 0.59 0.54 0.83

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Total asset turnover = Revenues ÷ Total assets
= 631,595 ÷ 1,156,398 = 0.55

2 Adjusted revenues. See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted total asset turnover = Adjusted revenues ÷ Adjusted total assets
= 636,735 ÷ 1,156,598 = 0.55

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Texas Pacific Land Corp. adjusted total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Current assets 862,464 633,401 526,513 332,530 366,640
Current liabilities 44,387 39,595 50,900 21,376 24,464
Liquidity Ratio
Current ratio1 19.43 16.00 10.34 15.56 14.99
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted current assets2 862,664 633,601 526,613 332,630 366,640
Adjusted current liabilities3 38,057 35,107 47,091 17,379 24,464
Liquidity Ratio
Adjusted current ratio4 22.67 18.05 11.18 19.14 14.99

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 862,464 ÷ 44,387 = 19.43

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2023 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 862,664 ÷ 38,057 = 22.67

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Texas Pacific Land Corp. adjusted current ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Total debt — — — — —
Total equity 1,043,196 772,887 651,711 485,184 512,137
Solvency Ratio
Debt to equity1 0.00 0.00 0.00 0.00 0.00
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt2 2,024 2,788 2,119 2,821 3,367
Adjusted total equity3 1,117,097 840,434 715,017 550,180 570,345
Solvency Ratio
Adjusted debt to equity4 0.00 0.00 0.00 0.01 0.01

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to equity = Total debt ÷ Total equity
= 0 ÷ 1,043,196 = 0.00

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 2,024 ÷ 1,117,097 = 0.00

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Texas Pacific Land Corp. adjusted debt-to-equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Total debt — — — — —
Total capital 1,043,196 772,887 651,711 485,184 512,137
Solvency Ratio
Debt to capital1 0.00 0.00 0.00 0.00 0.00
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt2 2,024 2,788 2,119 2,821 3,367
Adjusted total capital3 1,119,121 843,222 717,136 553,001 573,712
Solvency Ratio
Adjusted debt to capital4 0.00 0.00 0.00 0.01 0.01

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 0 ÷ 1,043,196 = 0.00

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2023 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 2,024 ÷ 1,119,121 = 0.00

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Texas Pacific Land Corp. adjusted debt-to-capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Total assets 1,156,398 877,427 764,064 571,635 598,176
Total equity 1,043,196 772,887 651,711 485,184 512,137
Solvency Ratio
Financial leverage1 1.11 1.14 1.17 1.18 1.17
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total assets2 1,156,598 877,627 764,164 571,735 598,176
Adjusted total equity3 1,117,097 840,434 715,017 550,180 570,345
Solvency Ratio
Adjusted financial leverage4 1.04 1.04 1.07 1.04 1.05

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Financial leverage = Total assets ÷ Total equity
= 1,156,398 ÷ 1,043,196 = 1.11

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 1,156,598 ÷ 1,117,097 = 1.04

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Texas Pacific Land Corp. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Net income 405,645 446,362 269,980 176,049 318,728
Revenues 631,595 667,422 450,958 302,554 490,496
Profitability Ratio
Net profit margin1 64.23% 66.88% 59.87% 58.19% 64.98%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income2 411,499 453,186 269,528 181,315 348,392
Adjusted revenues3 636,735 669,360 449,048 311,341 494,508
Profitability Ratio
Adjusted net profit margin4 64.63% 67.70% 60.02% 58.24% 70.45%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Net profit margin = 100 × Net income ÷ Revenues
= 100 × 405,645 ÷ 631,595 = 64.23%

2 Adjusted net income. See details »

3 Adjusted revenues. See details »

4 2023 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted revenues
= 100 × 411,499 ÷ 636,735 = 64.63%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Texas Pacific Land Corp. adjusted net profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Net income 405,645 446,362 269,980 176,049 318,728
Total equity 1,043,196 772,887 651,711 485,184 512,137
Profitability Ratio
ROE1 38.88% 57.75% 41.43% 36.28% 62.23%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income2 411,499 453,186 269,528 181,315 348,392
Adjusted total equity3 1,117,097 840,434 715,017 550,180 570,345
Profitability Ratio
Adjusted ROE4 36.84% 53.92% 37.70% 32.96% 61.08%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROE = 100 × Net income ÷ Total equity
= 100 × 405,645 ÷ 1,043,196 = 38.88%

2 Adjusted net income. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted total equity
= 100 × 411,499 ÷ 1,117,097 = 36.84%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Texas Pacific Land Corp. adjusted ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Net income 405,645 446,362 269,980 176,049 318,728
Total assets 1,156,398 877,427 764,064 571,635 598,176
Profitability Ratio
ROA1 35.08% 50.87% 35.33% 30.80% 53.28%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income2 411,499 453,186 269,528 181,315 348,392
Adjusted total assets3 1,156,598 877,627 764,164 571,735 598,176
Profitability Ratio
Adjusted ROA4 35.58% 51.64% 35.27% 31.71% 58.24%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 405,645 ÷ 1,156,398 = 35.08%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 411,499 ÷ 1,156,598 = 35.58%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Texas Pacific Land Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.