Texas Pacific Land (TPL) revenue breakdown
By segment, LRM is the largest at 61% of fiscal 2025 revenue; WSO grew fastest, 24% a year over 4 years.
By product, Oil and gas royalties is the largest at 52% of fiscal 2025 revenue; Water sales grew fastest, 26% a year over 4 years.
Revenue by segment
Fiscal years, as Texas Pacific Land reports them in its 10-K filings; fiscal 2025 total $798M.
| Segments | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|
| LRM | $320M | $507M | $432M | $441M | $491M | 61% |
| WSO | $131M | $160M | $199M | $265M | $307M | 39% |
Revenue by product
Fiscal years, as Texas Pacific Land reports them in its 10-K filings; fiscal 2025 total $798M.
| Products | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|
| Oil and gas royalties | $286M | $452M | $357M | $373M | $412M | 52% |
| Water sales | $68M | $85M | $112M | $151M | $170M | 21% |
| Produced water royalties | $58M | $72M | $84M | $104M | $124M | 16% |
| Easements and other surface-related income | $38M | $48M | $71M | $73M | $92M | 11% |
| Land sales | $1M | $10M | $7M | $4M | $819,000 | 0% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for TPL.
Open TPL in InvestinglyQuestions
Where does Texas Pacific Land make its money?
In fiscal 2025, by segment: LRM $491M, WSO $307M.
From Texas Pacific Land's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.