TPLTexas Pacific Land Corp
Oil Royalty Traders
- Revenue
- $798M
- 13% YoY
- Operating margin
- 74.2%
- 2.9% YoY
- EBITDA
- $655M
- 16% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear113% of net incomeCash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowClear29% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $451M | $667M | $632M | $706M | $798M | 13% |
| Operating income | $362M | $562M | $486M | $539M | $592M | 9.8% |
| Net income | $270M | $446M | $406M | $454M | $481M | 6.0% |
| Operating cash flow | $265M | $447M | $418M | $491M | $546M | 11% |
| Capex | $16M | $19M | — | — | — | |
| Stock-based comp | $28K | $8M | $10M | $12M | $15M | 21% |
| Buybacks | $20M | $88M | $43M | $29M | $8M | 71% |
| Dividends | $85M | $247M | $100M | $347M | $148M | 57% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $12K · 25
- Open-market sells, 12 mo
- $0 · 0
- Net
- $12K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $7M | $4M | 316 | 213 |
| FY2024 | $7M | $26M | 403 | 217 |
| FY2023 | $6M | $1M | 187 | 220 |
| FY2022 | $6M | $12M | 277 | 212 |
| FY2021 | $5M | $5M | 145 | 146 |