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

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