Stock Analysis on Net
Stock Analysis on Net

Texas Pacific Land Corp. (NYSE:TPL)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 6, 2024.

Common-Size Balance Sheet: Assets
Quarterly Data

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Texas Pacific Land Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Cash and cash equivalents
Accounts receivable and accrued receivables, net
Prepaid expenses and other current assets
Tax like-kind exchange escrow
Prepaid income taxes
Current assets
Real estate acquired
Property, plant and equipment, net
Royalty interests acquired, net
Intangible assets, net
Land (surface rights)
1/16th nonparticipating perpetual royalty interest
1/128th nonparticipating perpetual royalty interest
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned
Other assets
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets exhibits an overall upward trend from 27.97% in March 2019 to a peak of 68% in June 2024, with a slight decline to 45.42% in September 2024. This indicates a growing liquidity position over the analyzed periods, particularly notable after the third quarter of 2021 where values consistently exceeded 50%.
Accounts Receivable and Accrued Receivables, Net
This category shows a declining trend from 16.23% in March 2019, dropping below 10% by the third quarter of 2024, with some fluctuations in between. Notably, there was a rise to 17.32% in June 2022 before steadily decreasing again, suggesting variability in collectible amounts but an overall reduction in receivables as a percentage of total assets.
Prepaid Expenses and Other Current Assets
Data is only available from December 2019 onwards, where the proportion remains relatively low and fluctuates between 0.21% and 4.12%, the latter being an outlier in September 2024. Generally, these assets form a small fraction of total assets during the reported periods.
Tax Like-Kind Exchange Escrow
Initially significant at 15.18% in March 2019, this asset category sharply decreases with data disappearing for several quarters, reappearing sporadically around 2022 and 2023 at lower levels below 1%. This suggests reduced reliance or clearance of these escrow holdings over time.
Prepaid Income Taxes
These are minimal and only appear in isolated quarters, reaching at most 0.55%, indicating a minor portion of total assets.
Current Assets
The share of current assets in total assets ranges between approximately 53.69% and 77.34%. From a low in March 2020, there is a gradual increase peaking in mid-2024 around 77%, indicating stronger liquidity and asset convertibility in recent periods.
Real Estate Acquired
This asset category declines consistently from 18.31% in June 2019 to single digits near the end of the period, stabilizing slightly around 10-12% in late 2023 and 2024. This declining trend suggests possible divestitures or reduced acquisitions relative to total assets.
Property, Plant and Equipment, Net
There is a clear downward trajectory from about 18.29% in June 2019 to around 7.26% by June 2024. A slight increase to 10.13% occurs in September 2024, but the general trend indicates diminished investment or asset base in this category over the examined timeframe.
Royalty Interests Acquired, Net
Royalty interests as a percentage of total assets decreased from 6.85% in March 2019 to a low near 3.46% in June 2024, followed by an increase to 13.95% in September 2024, suggesting recent acquisition activity or revaluation increases in this category after a long downward trend.
Intangible Assets, Net
Reported only in recent quarters from March 2023 onwards, intangible assets grow modestly from 1.55% to 3.04% by September 2024, indicating emerging recognition or acquisition of intangible resources.
Other Assets
Representing a small portion of total assets, other assets have fluctuated between approximately 0.31% and 1.54%, with no clear directional trend. The values remain minor relative to total assets.
Noncurrent Assets
Noncurrent assets declined from 44.24% in June 2019 to around 22.66% in June 2024, with a subsequent rise to 39.69% in September 2024. The long-term downward trend suggests asset reallocation from noncurrent to current categories, though recent adjustments indicate potential changes in asset structure.