Texas Pacific Land Corp (TPL) closed fiscal year 2025 with a gross margin of 85.5 % and a net margin of 60.3 %.
Texas Pacific Land Corp (TPL) closed fiscal year 2025 with a gross margin of 85.5 % and a net margin of 60.3 %. The same year shows an EBITDA margin of 82.0 % and an EBIT margin of 74.2 %. The free cash flow margin was 4.0 %. Against the previous year the gross margin moved −4.4 pp and the net margin −4.0 pp. Across the period the gross margin ranges between 85.5 % in 2025 and 95.1 % in 2022. The series covers 8 fiscal years, from 2018 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | 95.08 % | 92.35 % | 89.90 % | 85.46 % |
| EBITDA margin (%) | 87.74 % | 83.28 % | 76.56 % | 83.97 % | 86.55 % | 79.29 % | 79.95 % | 82.02 % |
| EBIT margin (%) | 86.88 % | 81.46 % | 71.81 % | 80.36 % | 84.25 % | 76.96 % | 76.38 % | 74.19 % |
| Net margin (%) | 69.86 % | 64.98 % | 58.19 % | 59.87 % | 66.88 % | 64.23 % | 64.32 % | 60.31 % |
| FCF margin (%) | 49.15 % | 63.32 % | 66.75 % | 55.16 % | 64.15 % | 59.89 % | 9.27 % | 4.03 % |
