TPLTexas Pacific Land Corporation

Energy · Royalty Trusts · NYSE

Headquarters: Dallas, TX
CEO: Tyler Glover
Next results: around Feb 17, 2027

RevenueFY2018–25 $798.2M+13.1% Highest in 8 years 10-K FY2025 · XBRL Net incomeFY2018–25 $481.4M+6.0% Highest in 8 years 10-K FY2025 · XBRL Operating marginFY2018–25 74.2%−2.2 pts 86.9% in FY2018 10-K FY2025 · XBRL

What changed

10-K filed Feb 18, 2026 against Feb 19, 2025

Area	What changed	Source
Risk factors	15 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Accounting checks	9 other checks clear	10-K · XBRL
Insiders	35 open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 18, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-19. Quoted as filed.

The market in which TPWR operates is highly competitive and includes numerous companies capable of competing effectively on a local basis. TPWR competes with landowners, water supply and transfer companies, and companies who engage in the sale or treatment of produced water. Some of our larger diversified competitors have a broad…
10-K, Item 1A

All 15 new paragraphs →

Accounting checks

latest 10-K

9 of 9 clear 0 worth a look. Checks, not verdicts.

✓
Cash from operations $545.9M vs net income $481.4M (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: Deloitte & Touche LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
The same matters as last year: Accrual of Oil and Gas Royalties; F-2
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nov 4, 20268-K Quarterly results, Regulation FD disclosure 8-K items 2.02, 7.01
Nov 4, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026

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