Texas Pacific Land (TPL) FY2022 results: revenue $667 million, up 48.0% on the year
Texas Pacific Land Corp. (TPL) reported revenue of $667 million for fiscal 2022, the year ended 31 December 2022, up 48.0% on the year before. Net income was $446 million, up 65.3%, and diluted earnings per share $6.42. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.
Revenue
$667 million
+48.0% on the year
FY2018FY2022
Operating margin
84.3%
80.4% a year earlier
FY2018FY2022
Net income
$446 million
+65.3% on the year
FY2018FY2022
Diluted EPS
$6.42
+65.9% on the year
FY2018FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
447
265
207
+68.6%
Capital expenditure
19.0
16.4
5.1
+15.5%
Free cash flow
428
249
202
+72.1%
Free cash flow margin
64.2%
55.2%
66.7%
Cash from investing
-21.4
-15.0
-26.0
Cash from financing
-337
-105
-202
Depreciation and amortisation
15.4
16.3
14.4
-5.4%
Share-based compensation
8.4
0.0
0.0
+30,014.3%
Buybacks
87.8
19.7
0.0
+345.9%
Dividends paid
247
85.3
202
+190.0%
Dividend per share
n/a
$1.22
$1.11
Diluted shares, weighted
70m
70m
70m
-0.3%
Shares outstanding at period end
69m
70m
70m
-0.6%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
773
652
485
+18.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
2.0
1.4
2.0
+35.3%
Other liabilities
103
111
84.4
-7.5%
Total liabilities and equity
877
764
572
+14.8%
Fixed assets
85.5
79.7
79.3
+7.2%
Intangible assets
0.0
n/a
n/a
Cash and equivalents
511
428
281
+19.3%
Other assets
281
256
211
+9.8%
Total assets
877
764
572
+14.8%
10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.