Texas Pacific Land (TPL) FY2023 results: revenue $632 million, down 5.4% on the year
Texas Pacific Land Corp. (TPL) reported revenue of $632 million for fiscal 2023, the year ended 31 December 2023, down 5.4% on the year before. Net income was $406 million, down 9.1%, and diluted earnings per share $5.86. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$632 million
-5.4% on the year
FY2018FY2023
Operating margin
77.0%
84.3% a year earlier
FY2018FY2023
Net income
$406 million
-9.1% on the year
FY2018FY2023
Diluted EPS
$5.86
-8.7% on the year
FY2018FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
418
447
265
-6.5%
Capital expenditure
n/a
19.0
16.4
Free cash flow
n/a
428
249
Free cash flow margin
n/a
64.2%
55.2%
Cash from investing
-60.3
-21.4
-15.0
Cash from financing
-145
-337
-105
Depreciation and amortisation
14.8
15.4
16.3
-4.0%
Share-based compensation
10.3
8.4
0.0
+22.7%
Buybacks
42.6
87.8
19.7
-51.5%
Dividends paid
100.0
247
85.3
-59.6%
Dividend per share
$0.48
n/a
$1.22
Diluted shares, weighted
69m
70m
70m
-0.5%
Shares outstanding at period end
69m
69m
70m
-0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,043
773
652
+35.0%
Debt
0.0
0.0
0.0
Operating lease liabilities
1.2
2.0
1.4
-40.2%
Other liabilities
112
103
111
+9.2%
Total liabilities and equity
1,156
877
764
+31.8%
Fixed assets
89.6
85.5
79.7
+4.8%
Intangible assets
21.0
0.0
n/a
Cash and equivalents
725
511
428
+42.0%
Other assets
321
281
256
+14.1%
Total assets
1,156
877
764
+31.8%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.