Common-Size Balance Sheet: Assets
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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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Texas Pacific Land Corp., common-size consolidated balance sheet: assets
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).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets demonstrated a consistent upward trend from 50.76% in 2019 to 62.71% in 2023, indicating an increasing liquidity position over the period.
- Accounts receivable and accrued receivables, net
- This category exhibited some variability, initially decreasing from 10.53% in 2019 to 8.43% in 2020, then rising to a peak of 12.46% in 2021, followed by a slight decline to 11.15% by 2023. Overall, it maintained a moderate share of total assets without a clear sustained increase or decrease.
- Prepaid expenses and other current assets
- Values for this item appeared starting in 2020 at 0.23%, gradually rising to 0.85% in 2022 but then falling back to 0.25% in 2023, suggesting some short-term fluctuation without a definitive trend.
- Tax like-kind exchange escrow
- Reported values were sporadic, with presence recorded in 2020 (0.35%) and 2022 (0.72%), diminishing to 0.47% in 2023, reflecting irregular holdings of this asset type.
- Prepaid income taxes
- This accounted for 0.55% of total assets in 2022 only, with no other recorded values, indicating a transient position in the asset structure.
- Current assets
- The total current assets proportion increased steadily from 61.29% in 2019 to 74.58% in 2023, underscoring a strategic shift towards more liquid or short-term assets over the five-year period.
- Real estate acquired
- A declining trend was observed, with the share decreasing from 17.90% in 2019 to 11.24% in 2023. This suggests a reduction in holdings or valuation of acquired real estate relative to total assets.
- Property, plant and equipment, net
- There was a consistent decrease in the net value of property, plant, and equipment as a percentage of total assets, falling from 14.77% in 2019 to 7.75% in 2023, indicating a possible divestment or depreciation impact over time.
- Royalty interests acquired, net
- The proportion shifted irregularly, increasing from 4.86% in 2019 to 7.99% in 2020, then decreasing steadily to 4.03% in 2023, reflecting fluctuating royalty-related asset levels.
- Intangible assets, net
- Intangible assets were not reported until 2023, where they accounted for 1.82% of total assets, evidencing a new or reclassified asset category introduced in the latest period.
- Operating lease right-of-use assets
- These assets gradually declined from 0.52% in 2019 to 0.16% in 2023, indicating a reduction in leased asset rights or changes in lease accounting.
- Other assets
- Other assets showed minor fluctuations, ranging from 0.67% in 2019 down to 0.15% in 2022, but rising back to 0.42% in 2023, suggesting minor adjustments in miscellaneous asset holdings.
- Noncurrent assets
- The proportion of noncurrent assets relative to total assets steadily declined from 38.71% in 2019 to 25.42% in 2023. This aligns with the observed increases in current assets and declines in several fixed asset categories, indicating a shift towards more liquid asset composition.
- Total assets
- The total assets consistently equal 100% across all periods, serving as the base for all reported proportional values.