Analysis of Revenues
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Texas Pacific Land Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Dividend Discount Model (DDM)
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Revenues as Reported
Texas Pacific Land Corp., income statement, revenues
US$ in thousands
| 12 months ended: | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Land and resource management | |||||||||||
| Water services and operations | |||||||||||
| Revenues |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
- Revenue Trends
- The overall revenue demonstrates a fluctuating but generally rising pattern over the five-year period. Beginning at $490.5 million in 2019, revenues dropped significantly to $302.6 million in 2020, then recovered substantially in 2021 to $451.0 million. The upward trend continued sharply in 2022, reaching $667.4 million, followed by a slight decrease to $631.6 million in 2023.
- Land and Resource Management
- This segment experienced a marked decline in 2020, falling from $363.3 million in 2019 to $195.1 million. However, it showed a strong recovery in 2021, increasing to $320.4 million, and peaked at $507.0 million in 2022. The value then decreased to $432.1 million in 2023, remaining significantly above the 2020 low.
- Water Services and Operations
- Revenue from water services and operations exhibited a steady growth throughout the period. Starting at $127.2 million in 2019, it dipped slightly in 2020 to $107.4 million but then consistently rose each year, reaching $130.6 million in 2021, $160.4 million in 2022, and $199.5 million in 2023. This segment's growth trend contrasts with the fluctuations seen in land and resource management.
- Segment Contributions and Observations
- Land and resource management represents the larger portion of revenue and demonstrates greater volatility, with a significant drop in 2020 and a notable recovery afterward. Water services and operations show more consistent growth, contributing increasingly to total revenues over time. The overall revenue pattern reflects the impact of these two segments' divergent trends, with the strong recovery in land management driving substantial increases after 2020, tempered by a slight decline in the most recent year.