Texas Pacific Land Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	476.39	453.96	405.65	446.36	269.98	176.05	Upgrade
Depreciation & Amortization	52.07	25.16	14.76	15.38	16.26	14.4	Upgrade
Loss (Gain) From Sale of Assets	-	-	-	-	-	-1.42	Upgrade
Stock-Based Compensation	14.88	12.5	10.34	8.43	0.03	-	Upgrade
Other Operating Activities	2.93	-0.01	1.4	1.26	0.22	-2.1	Upgrade
Change in Accounts Receivable	-0.61	-0.61	-24.46	-13.83	-47.6	18.83	Upgrade
Change in Unearned Revenue	-3.9	-3.9	5.14	1.94	-1.91	8.79	Upgrade
Change in Income Taxes	11.68	-0.41	6.44	-30.73	25.03	-1.22	Upgrade
Change in Other Net Operating Assets	5.38	3.98	-0.98	18.34	3.16	-6.29	Upgrade
Operating Cash Flow	558.81	490.67	418.29	447.15	265.16	207.04	Upgrade
Operating Cash Flow Growth	17.52%	17.30%	-6.45%	68.63%	28.07%	-39.60%	Upgrade
Capital Expenditures	-44.12	-29.7	-15.03	-19.21	-15.55	-5.09	Upgrade
Sale of Property, Plant & Equipment	-	-	0.01	0.11	1.09	-	Upgrade
Cash Acquisitions	-28.16	-45	-	-	-	-	Upgrade
Sale (Purchase) of Intangibles	-278.79	-395.58	-24.97	-1.66	-	-16.95	Upgrade
Sale (Purchase) of Real Estate	-36.4	-1.48	-20.32	-0.63	-0.54	-3.97	Upgrade
Investing Cash Flow	-383.59	-471.75	-60.31	-21.4	-15	-26	Upgrade
Repurchase of Common Stock	-29.54	-30.78	-44.64	-89.53	-19.68	-	Upgrade
Common Dividends Paid	-147.79	-117.48	-99.97	-92.54	-85.26	-77.56	Upgrade
Financing Cash Flow	-177.33	-378.09	-144.61	-336.81	-104.95	-201.66	Upgrade
Net Cash Flow	-2.11	-359.17	213.37	88.94	145.22	-20.62	Upgrade
Free Cash Flow	514.69	460.98	403.26	427.94	249.62	201.95	Upgrade
Free Cash Flow Growth	13.20%	14.31%	-5.77%	71.44%	23.60%	-34.98%	Upgrade
Free Cash Flow Margin	66.64%	65.31%	63.85%	64.12%	55.35%	66.75%	Upgrade
Free Cash Flow Per Share	7.46	6.67	5.83	6.15	3.58	2.89	Upgrade
Cash Income Tax Paid	113.89	120.67	104.08	151.96	68.22	46.62	Upgrade
Levered Free Cash Flow	92.44	-42.27	279.27	319	210.04	136.69	Upgrade
Unlevered Free Cash Flow	92.44	-42.27	279.27	319	210.04	136.69	Upgrade
Change in Working Capital	12.54	-0.94	-13.86	-24.28	-21.32	20.11	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.