Cash flow Texas Pacific Land Corporation

Equities

TPL

US88262P1021

Oil & Gas Exploration and Production

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Published financial data: TEXAS PACIFIC LAND CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	30Cr	45Cr	67Cr	63Cr	71Cr
Interest And Invest. Income (Rev)	-	-	-	-	-
Other Revenues, Total	-	-	-	-	-
Total Revenues	30Cr	45Cr	67Cr	63Cr	71Cr
Cost of Goods Sold, Total	1.82Cr	1.32Cr	1.75Cr	3.36Cr	4.61Cr
Gross Profit	28Cr	44Cr	65Cr	60Cr	66Cr
Selling General & Admin Expenses, Total	5.25Cr	5.23Cr	6.31Cr	8.93Cr	8.29Cr
Depreciation & Amortization - (IS)	1.44Cr	1.63Cr	1.54Cr	1.48Cr	2.52Cr
Other Operating Expenses	-3L	-	87.34L	73.85L	72.95L
Other Operating Expenses, Total	6.66Cr	6.85Cr	8.72Cr	11Cr	12Cr
Operating Income	22Cr	37Cr	56Cr	49Cr	54Cr
Interest Expense, Total	-	-	-	-9L	-
Interest And Investment Income	-	-	-	2.86Cr	3.21Cr
Net Interest Expenses	-	-	-	2.77Cr	3.21Cr
Other Non Operating Income (Expenses)	22.33L	5L	61.84L	37.64L	23.52L
EBT, Excl. Unusual Items	22Cr	37Cr	57Cr	52Cr	58Cr
Other Unusual Items	-	-66.8L	-	-5L	-
EBT, Incl. Unusual Items	22Cr	36Cr	57Cr	52Cr	58Cr
Income Tax Expense	4.36Cr	9.3Cr	12Cr	11Cr	12Cr
Earnings From Continuing Operations	18Cr	27Cr	45Cr	41Cr	45Cr
Net Income to Company	18Cr	27Cr	45Cr	41Cr	45Cr
Net Income - (IS)	18Cr	27Cr	45Cr	41Cr	45Cr
Net Income to Common Incl Extra Items	18Cr	27Cr	45Cr	41Cr	45Cr
Net Income to Common Excl. Extra Items	18Cr	27Cr	45Cr	41Cr	45Cr
Per Share Items
Net EPS - Basic	2.52	3.87	6.42	5.87	6.58
Basic EPS - Continuing Operations	2.52	3.87	6.42	5.87	6.58
Basic Weighted Average Shares Outstanding	6.98Cr	6.98Cr	6.95Cr	6.91Cr	6.9Cr
Net EPS - Diluted	2.52	3.87	6.42	5.86	6.57
Diluted EPS - Continuing Operations	2.52	3.87	6.42	5.86	6.57
Diluted Weighted Average Shares Outstanding	6.98Cr	6.98Cr	6.95Cr	6.92Cr	6.91Cr
Normalized Basic EPS	1.97	3.31	5.12	4.68	5.25
Normalized Diluted EPS	1.97	3.31	5.11	4.68	5.24
Dividend Per Share	-	1.22	1.33	1.44	1.7
Payout Ratio	44.06	31.58	20.73	24.65	25.88
Supplemental Items
EBITDA	23Cr	39Cr	58Cr	50Cr	57Cr
EBITA	22Cr	37Cr	56Cr	49Cr	55Cr
EBIT	22Cr	37Cr	56Cr	49Cr	54Cr
EBITDAR	23Cr	39Cr	58Cr	50Cr	57Cr
Total Revenues (As Reported)	30Cr	45Cr	67Cr	63Cr	71Cr
Effective Tax Rate - (Ratio)	19.85	25.63	21.53	21.62	21.57
Current Domestic Taxes	4.6Cr	9.33Cr	12Cr	11Cr	12Cr
Total Current Taxes	4.6Cr	9.33Cr	12Cr	11Cr	12Cr
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-23.89L	-2L	12.63L	13.99L	46.04L
Normalized Net Income	14Cr	23Cr	36Cr	32Cr	36Cr
Non-Cash Pension Expense	-2L	-1L	-4L	-5L	-51.91L
Supplemental Operating Expense Items
General and Administrative Expenses	2.05Cr	1.91Cr	2.21Cr	4.64Cr	3.45Cr
Net Rental Expense, Total	8L	8L	8L	8L	9L
Imputed Operating Lease Interest Expense	-	-	-	28.95L	-
Imputed Operating Lease Depreciation	-	-	-	-20.95L	-
Stock-Based Comp., G&A Exp. (Total)	-	-	8L	12.19L	11.34L
Stock-Based Comp., SG&A Exp. (Total)	-	28T	75.83L	91.24L	1.14Cr
Total Stock-Based Compensation	-	28T	84.32L	1.03Cr	1.25Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	28Cr	43Cr	51Cr	73Cr	37Cr
Total Cash And Short Term Investments	28Cr	43Cr	51Cr	73Cr	37Cr
Accounts Receivable, Total	4.82Cr	9.52Cr	10Cr	13Cr	13Cr
Total Receivables	4.82Cr	9.52Cr	10Cr	13Cr	13Cr
Prepaid Expenses	-	30.54L	74.27L	29.44L	53.18L
Other Current Assets, Total	19.78L	-	1.12Cr	53.8L	15.46L
Total Current Assets	33Cr	53Cr	63Cr	86Cr	50Cr
Gross Property Plant And Equipment	11Cr	12Cr	14Cr	15Cr	18Cr
Accumulated Depreciation	-2.52Cr	-3.87Cr	-5Cr	-5.72Cr	-5.58Cr
Net Property Plant And Equipment	8.17Cr	8.15Cr	8.8Cr	9.14Cr	12Cr
Long-term Investments	4.56Cr	4.44Cr	4.5Cr	4.66Cr	43Cr
Other Intangibles, Total	-	-	-	2.1Cr	3.52Cr
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	11Cr	11Cr	11Cr	13Cr	15Cr
Total Assets	57Cr	76Cr	88Cr	115.64Cr	124.8Cr
Liabilities
Accounts Payable, Total	1.47Cr	1.8Cr	2.31Cr	2.16Cr	2.62Cr
Accrued Expenses, Total	-	-	80.43L	1.08Cr	84.18L
Current Portion of Leases	8L	-	8L	9L	8L
Current Income Taxes Payable	40.54L	2.91Cr	31.67L	47.95L	43.88L
Unearned Revenue Current, Total	-	38.09L	44.88L	63.3L	67.97L
Total Current Liabilities	1.95Cr	5.09Cr	3.96Cr	4.44Cr	4.66Cr
Long-Term Leases	20.25L	14.45L	19.55L	11.7L	5L
Unearned Revenue Non Current	2.62Cr	2.04Cr	2.17Cr	2.5Cr	2.06Cr
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	3.87Cr	3.89Cr	4.12Cr	4.24Cr	4.74Cr
Other Non Current Liabilities	-	6L	1L	3L	5L
Total Liabilities	8.65Cr	11Cr	10Cr	11Cr	12Cr
Common Stock, Total	49Cr	78T	78T	78T	2L
Additional Paid In Capital	-	28T	82.93L	1.46Cr	1.99Cr
Retained Earnings	-	67Cr	87Cr	117.17Cr	127.76Cr
Treasury Stock	-	-1.54Cr	-10Cr	-14Cr	-17Cr
Comprehensive Income and Other	-26.93L	-10.07L	25.16L	18.31L	35.83L
Total Common Equity	49Cr	65Cr	77Cr	104.32Cr	113.25Cr
Total Equity	49Cr	65Cr	77Cr	104.32Cr	113.25Cr
Total Liabilities And Equity	57Cr	76Cr	88Cr	115.64Cr	124.8Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	6.98Cr	6.97Cr	6.93Cr	6.9Cr	6.9Cr
ECS Total Common Shares Outstanding	6.98Cr	6.97Cr	6.93Cr	6.9Cr	6.89Cr
Book Value / Share	6.95	9.35	11.16	15.11	16.43
Tangible Book Value	49Cr	65Cr	77Cr	102.22Cr	109.73Cr
Tangible Book Value Per Share	6.95	9.35	11.16	14.81	15.92
Total Debt	28.21L	14.45L	27.88L	20.24L	12.5L
Net Debt	-28Cr	-43Cr	-51Cr	-72Cr	-37Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	21.5L	6L	-34.73L	-36.48L	-90.44L
Debt Equivalent Oper. Leases	64L	64L	64L	64L	72L
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	61.25L	90.71L	97.18L	98.01L	99.32L
Full Time Employees	102	92	99	100	111
Accumulated Allowance for Doubtful Accounts (Supple)	1L	1L	2L	2L	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	18Cr	27Cr	45Cr	41Cr	45Cr
Depreciation & Amortization - CF	1.44Cr	1.63Cr	1.54Cr	1.44Cr	2.37Cr
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	4L	15L
Depreciation & Amortization, Total	1.44Cr	1.63Cr	1.54Cr	1.48Cr	2.52Cr
(Gain) Loss From Sale Of Asset	-14.15L	-	-	-	-
Stock-Based Compensation (CF)	-	28T	84.32L	1.03Cr	1.25Cr
Other Operating Activities, Total	-20.99L	2L	12.63L	13.99L	-12T
Change In Accounts Receivable	1.88Cr	-4.76Cr	-1.38Cr	-2.45Cr	-6L
Change In Accounts Payable	-62.91L	-	-	-	-
Change in Unearned Revenues	87.87L	-19.1L	19.38L	51.4L	-39.03L
Change In Income Taxes	-12.17L	2.5Cr	-3.07Cr	64.37L	-4L
Change in Other Net Operating Assets	-	31.62L	1.83Cr	-10L	39.84L
Cash from Operations	21Cr	27Cr	45Cr	42Cr	49Cr
Capital Expenditure	-50.86L	-1.55Cr	-1.92Cr	-1.5Cr	-2.97Cr
Sale of Property, Plant, and Equipment	-	10.86L	1L	5T	-
Cash Acquisitions	-	-	-	-	-4.5Cr
Sale (Purchase) of Real Estate properties	-39.66L	-5L	-6L	-2.03Cr	-14.76L
Sale (Purchase) of Intangible assets	-1.69Cr	-	-16.62L	-2.5Cr	-40Cr
Cash from Investing	-2.6Cr	-1.5Cr	-2.14Cr	-6.03Cr	-47Cr
Repurchase of Common Stock	-	-1.97Cr	-8.95Cr	-4.46Cr	-3.08Cr
Common Dividends Paid	-7.76Cr	-8.53Cr	-9.25Cr	-10Cr	-12Cr
Common & Preferred Stock Dividends Paid	-7.76Cr	-8.53Cr	-9.25Cr	-10Cr	-12Cr
Special Dividend Paid	-12Cr	-	-15Cr	-	-23Cr
Cash from Financing	-20Cr	-10Cr	-34Cr	-14Cr	-38Cr
Net Change in Cash	-2.06Cr	15Cr	8.89Cr	21Cr	-36Cr
Supplemental Items
Cash Income Tax Paid (Refund)	4.66Cr	6.82Cr	15Cr	10Cr	12Cr
Levered Free Cash Flow	14Cr	21Cr	32Cr	28Cr	-4.23Cr
Unlevered Free Cash Flow	14Cr	21Cr	32Cr	28Cr	-4.23Cr
Change In Net Working Capital	-70.71L	1.73Cr	3.64Cr	1.08Cr	-51.38L

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	23.23	34.55	42.85	29.9	28.3
Return on Total Capital	27.08	40.47	49.22	33.42	31.24
Return On Equity %	35.3	47.49	62.66	44.67	41.73
Return on Common Equity	35.3	47.49	62.66	44.67	41.73
Margin Analysis
Gross Profit Margin %	93.98	97.07	97.38	94.69	93.47
SG&A Margin	17.38	11.59	9.46	14.14	11.75
EBITDA Margin %	76.7	85.47	86.61	79.37	80.68
EBITA Margin %	71.94	81.87	84.31	77.1	77.33
EBIT Margin %	71.94	81.87	84.31	77.04	77.12
Income From Continuing Operations Margin %	58.25	59.87	66.88	64.23	64.32
Net Income Margin %	58.25	59.87	66.88	64.23	64.32
Net Avail. For Common Margin %	58.25	59.87	66.88	64.23	64.32
Normalized Net Income Margin	45.43	51.24	53.27	51.27	51.25
Levered Free Cash Flow Margin	44.78	47.5	47.67	43.99	-5.99
Unlevered Free Cash Flow Margin	44.78	47.5	47.67	44.08	-5.99
Asset Turnover
Asset Turnover	0.52	0.68	0.81	0.62	0.59
Fixed Assets Turnover	3.49	5.52	7.87	7.04	6.56
Receivables Turnover (Average Receivables)	5.44	6.29	6.7	5.42	5.52
Short Term Liquidity
Current Ratio	16.96	10.34	16	19.43	10.81
Quick Ratio	16.86	10.28	15.53	19.24	10.66
Operating Cash Flow to Current Liabilities	10.6	5.21	11.29	9.42	10.54
Days Sales Outstanding (Average Receivables)	67.34	58.05	54.47	67.31	66.28
Average Days Payable Outstanding	340.48	432.12	426.83	245.16	193.07
Long Term Solvency
Total Debt/Equity	0.58	0.22	0.36	0.19	0.11
Total Debt / Total Capital	0.58	0.22	0.36	0.19	0.11
LT Debt/Equity	0.42	0.22	0.25	0.11	0.04
Long-Term Debt / Total Capital	0.41	0.22	0.25	0.11	0.04
Total Liabilities / Total Assets	15.12	14.7	11.91	9.79	9.26
EBIT / Interest Expense	-	-	-	540.63	-
EBITDA / Interest Expense	-	-	-	557.92	-
(EBITDA - Capex) / Interest Expense	-	-	-	541.22	-
Total Debt / EBITDA	0.01	0	0	0	0
Net Debt / EBITDA	-1.2	-1.1	-0.88	-1.44	-0.65
Total Debt / (EBITDA - Capex)	0.01	0	0	0	0
Net Debt / (EBITDA - Capex)	-1.22	-1.15	-0.91	-1.48	-0.68
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-38.33	49.05	48	-5.37	11.75
Gross Profit, 1 Yr. Growth %	-39.44	53.93	48.47	-7.99	10.31
EBITDA, 1 Yr. Growth %	-43.26	66.26	49.97	-13.27	13.6
EBITA, 1 Yr. Growth %	-45.6	69.79	52.41	-13.46	12.09
EBIT, 1 Yr. Growth %	-45.6	69.79	52.41	-13.53	11.87
Earnings From Cont. Operations, 1 Yr. Growth %	-44.77	53.36	65.33	-9.12	11.91
Net Income, 1 Yr. Growth %	-44.77	53.36	65.33	-9.12	11.91
Normalized Net Income, 1 Yr. Growth %	-45.39	69.23	53.87	-8.93	12.14
Diluted EPS Before Extra, 1 Yr. Growth %	-44.76	53.44	65.88	-8.66	12.11
Accounts Receivable, 1 Yr. Growth %	-23.46	97.48	9.21	24.03	-1.78
Net Property, Plant and Equip., 1 Yr. Growth %	-10.59	-0.23	7.92	3.91	35.31
Total Assets, 1 Yr. Growth %	-4.44	33.66	14.84	31.79	7.92
Tangible Book Value, 1 Yr. Growth %	-5.26	34.32	18.59	32.25	7.35
Common Equity, 1 Yr. Growth %	-5.26	34.32	18.59	34.97	8.56
Cash From Operations, 1 Yr. Growth %	-39.6	28.08	68.63	-6.45	17.3
Capital Expenditures, 1 Yr. Growth %	-84.21	205.7	23.57	-21.78	97.6
Levered Free Cash Flow, 1 Yr. Growth %	-41.87	56.72	48.53	-12.9	-115.14
Unlevered Free Cash Flow, 1 Yr. Growth %	-41.87	56.72	48.53	-12.72	-115.14
Dividend Per Share, 1 Yr. Growth %	-	-	9.09	8.33	18.01
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.42	-4.12	48.52	18.35	2.84
Gross Profit, 2 Yr. CAGR %	-0.79	-3.44	51.18	16.89	0.75
EBITDA, 2 Yr. CAGR %	-6.21	-2.88	57.9	15.05	-0.74
EBITA, 2 Yr. CAGR %	-8.72	-3.89	60.86	15.9	-1.51
EBIT, 2 Yr. CAGR %	-8.72	-3.89	60.86	15.85	-1.64
Earnings From Cont. Operations, 2 Yr. CAGR %	-8.38	-7.96	59.23	22.58	0.85
Net Income, 2 Yr. CAGR %	-8.38	-7.96	59.23	22.58	0.85
Normalized Net Income, 2 Yr. CAGR %	-8.39	-4.13	60.92	19.46	0.87
Diluted EPS Before Extra, 2 Yr. CAGR %	-8.2	-7.94	59.54	23.09	1.19
Accounts Receivable, 2 Yr. CAGR %	-0.55	22.94	46.85	16.38	10.37
Net Property, Plant and Equip., 2 Yr. CAGR %	12.31	-5.55	3.76	5.9	18.58
Total Assets, 2 Yr. CAGR %	41.61	13.02	23.89	23.02	19.26
Tangible Book Value, 2 Yr. CAGR %	40.81	12.81	26.21	25.24	19.15
Common Equity, 2 Yr. CAGR %	40.81	12.81	26.21	26.52	21.05
Cash From Operations, 2 Yr. CAGR %	2.92	-12.05	46.96	25.6	4.75
Capital Expenditures, 2 Yr. CAGR %	-67.41	-30.52	94.36	-1.69	24.33
Levered Free Cash Flow, 2 Yr. CAGR %	55.2	-4.07	52.57	15.02	-63.6
Unlevered Free Cash Flow, 2 Yr. CAGR %	55.2	-4.07	52.57	15.13	-63.6
Dividend Per Share, 2 Yr. CAGR %	-	150.74	-	8.71	13.03
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	25.16	14.59	10.81	27.8	16.11
Gross Profit, 3 Yr. CAGR %	22.73	14.9	11.45	28.12	14.65
EBITDA, 3 Yr. CAGR %	16.84	13.51	12.26	29.31	14.56
EBITA, 3 Yr. CAGR %	14.46	12.26	12.08	30.83	14.62
EBIT, 3 Yr. CAGR %	14.46	12.26	12.08	30.8	14.51
Earnings From Cont. Operations, 3 Yr. CAGR %	21.88	8.78	11.88	32.08	18.91
Net Income, 3 Yr. CAGR %	21.88	8.78	11.88	32.08	18.91
Normalized Net Income, 3 Yr. CAGR %	14.83	12.2	12.24	33.11	16.83
Diluted EPS Before Extra, 3 Yr. CAGR %	22.4	8.95	12.03	32.47	19.32
Accounts Receivable, 3 Yr. CAGR %	39.47	25	18.18	38.81	9.98
Net Property, Plant and Equip., 3 Yr. CAGR %	61.19	7.96	-1.26	3.81	14.91
Total Assets, 3 Yr. CAGR %	68.24	38.91	13.62	26.47	17.77
Tangible Book Value, 3 Yr. CAGR %	66.51	38.62	14.7	28.2	18.97
Common Equity, 3 Yr. CAGR %	66.51	38.62	14.7	29.07	20.22
Cash From Operations, 3 Yr. CAGR %	30.19	10.7	9.26	26.42	22.77
Capital Expenditures, 3 Yr. CAGR %	-35.26	-31.26	-15.82	43.5	24.07
Levered Free Cash Flow, 3 Yr. CAGR %	28.88	56.23	10.98	26.68	-41.4
Unlevered Free Cash Flow, 3 Yr. CAGR %	28.88	56.23	10.98	26.76	-41.4
Dividend Per Share, 3 Yr. CAGR %	-	118.79	90	-	11.7
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	31.08	47.04	34.06	16.08	7.55
Gross Profit, 5 Yr. CAGR %	29.03	46.17	33.43	15.69	7.04
EBITDA, 5 Yr. CAGR %	25.23	43.7	31.8	13.72	6.87
EBITA, 5 Yr. CAGR %	23.64	42.48	31.16	13.29	6.43
EBIT, 5 Yr. CAGR %	23.64	42.48	31.16	13.27	6.37
Earnings From Cont. Operations, 5 Yr. CAGR %	28.61	44.89	35.64	14.1	7.33
Net Income, 5 Yr. CAGR %	28.61	44.89	35.64	14.1	7.33
Normalized Net Income, 5 Yr. CAGR %	23.88	42.51	31.43	14.63	7.55
Diluted EPS Before Extra, 5 Yr. CAGR %	30.04	45.77	36.08	14.4	7.56
Accounts Receivable, 5 Yr. CAGR %	65.13	70.8	42.38	21.48	14.99
Net Property, Plant and Equip., 5 Yr. CAGR %	215.64	133.77	35.15	7.13	6.24
Total Assets, 5 Yr. CAGR %	62.51	65.01	48.86	32.32	15.85
Tangible Book Value, 5 Yr. CAGR %	60.41	68.75	49.04	33.1	16.46
Common Equity, 5 Yr. CAGR %	60.41	68.75	49.04	33.64	17.2
Cash From Operations, 5 Yr. CAGR %	33.1	45.29	36.65	16.44	7.44
Capital Expenditures, 5 Yr. CAGR %	87.24	73.92	0.49	-20.69	-1.61
Levered Free Cash Flow, 5 Yr. CAGR %	22.96	41.99	38.15	37.67	-28.91
Unlevered Free Cash Flow, 5 Yr. CAGR %	22.96	41.99	38.15	37.73	-28.91
Dividend Per Share, 5 Yr. CAGR %	-	104.23	102.77	65.4	54.35