Debt to Equity
since 2005
Calculation
Texas Pacific Land Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.00 | = | —) | ÷ | 1,043,196) |
| Dec 31, 2022 | 0.00 | = | —) | ÷ | 772,887) |
| Dec 31, 2021 | 0.00 | = | —) | ÷ | 651,711) |
| Dec 31, 2020 | 0.00 | = | —) | ÷ | 485,184) |
| Dec 31, 2019 | 0.00 | = | —) | ÷ | 512,137) |
| Dec 31, 2018 | 0.00 | = | —) | ÷ | 244,691) |
| Dec 31, 2017 | 0.00 | = | —) | ÷ | 79,193) |
| Dec 31, 2016 | 0.00 | = | —) | ÷ | 47,624) |
| Dec 31, 2015 | 0.00 | = | —) | ÷ | 45,689) |
| Dec 31, 2014 | 0.00 | = | —) | ÷ | 26,720) |
| Dec 31, 2013 | 0.00 | = | —) | ÷ | 17,930) |
| Dec 31, 2012 | 0.00 | = | —) | ÷ | 15,596) |
| Dec 31, 2011 | 0.00 | = | —) | ÷ | 20,547) |
| Dec 31, 2010 | 0.00 | = | —) | ÷ | 18,302) |
| Dec 31, 2009 | 0.00 | = | —) | ÷ | 19,704) |
| Dec 31, 2008 | 0.00 | = | —) | ÷ | 23,525) |
| Dec 31, 2007 | 0.00 | = | —) | ÷ | 24,890) |
| Dec 31, 2006 | 0.00 | = | —) | ÷ | 24,439) |
| Dec 31, 2005 | 0.00 | = | —) | ÷ | 24,614) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
Analysis of the capital structure from 2005 to 2023 indicates a complete absence of reported total debt. This results in a debt-to-equity ratio of zero throughout the entire observed period, reflecting a financial strategy characterized by zero leverage and a total reliance on equity for funding operations and asset growth.
- Equity Growth Phases
- From 2005 to 2013, total equity remained relatively stable with minor fluctuations, ranging between a high of 24.89 million US dollars in 2007 and a low of 15.60 million US dollars in 2012. A subsequent period of steady growth occurred between 2014 and 2017, during which equity increased from 26.72 million to 79.19 million US dollars.
- Accelerated Capital Expansion
- A significant shift in the balance sheet is observed beginning in 2018, marked by an exponential increase in total equity. The equity base grew from 244.69 million US dollars in 2018 to 1.043 billion US dollars by December 31, 2023. This rapid accumulation represents a substantial expansion of the organization's net worth over a six-year duration.
- Leverage and Risk Profile
- The consistent absence of debt across nearly two decades, coupled with the aggressive growth in total equity, demonstrates an extremely low-risk financial profile regarding solvency. The growth in the equity base has been achieved without the introduction of external debt obligations, maintaining a debt-to-equity ratio of zero.
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Comparison to Competitors
Texas Pacific Land Corp., debt to equity, long-term trends, comparison to competitors
| Texas Pacific Land Corp. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2023 | 0.00 | 0.13 | 0.38 | 0.20 |
| Dec 31, 2022 | 0.00 | 0.15 | 0.35 | 0.21 |
| Dec 31, 2021 | 0.00 | 0.23 | 0.44 | 0.28 |
| Dec 31, 2020 | 0.00 | 0.34 | 0.51 | 0.43 |
| Dec 31, 2019 | 0.00 | 0.19 | 0.43 | 0.24 |
| Dec 31, 2018 | 0.00 | 0.22 | 0.47 | 0.20 |
| Dec 31, 2017 | 0.00 | 0.26 | 0.64 | 0.23 |
| Dec 31, 2016 | 0.00 | 0.32 | 0.78 | 0.26 |
| Dec 31, 2015 | 0.00 | 0.25 | 0.63 | 0.23 |
| Dec 31, 2014 | 0.00 | 0.18 | 0.43 | 0.17 |
| Dec 31, 2013 | 0.00 | 0.14 | 0.42 | 0.13 |
| Dec 31, 2012 | 0.00 | 0.09 | 0.45 | 0.07 |
| Dec 31, 2011 | 0.00 | 0.08 | 0.35 | 0.11 |
| Dec 31, 2010 | 0.00 | 0.11 | 0.34 | 0.10 |
| Dec 31, 2009 | 0.00 | 0.11 | 0.46 | 0.09 |
| Dec 31, 2008 | 0.00 | 0.10 | 0.50 | 0.08 |
| Dec 31, 2007 | 0.00 | 0.09 | 0.24 | 0.08 |
| Dec 31, 2006 | 0.00 | 0.14 | 0.33 | 0.07 |
| Dec 31, 2005 | 0.00 | 0.21 | 0.24 | 0.07 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Texas Pacific Land Corp., debt to equity, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Texas Pacific Land Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2023 | 0.00 | 0.20 |
| Dec 31, 2022 | 0.00 | 0.20 |
| Dec 31, 2021 | 0.00 | 0.28 |
| Dec 31, 2020 | 0.00 | 0.40 |
| Dec 31, 2019 | 0.00 | 0.24 |
| Dec 31, 2018 | 0.00 | 0.23 |
| Dec 31, 2017 | 0.00 | 0.28 |
| Dec 31, 2016 | 0.00 | 0.33 |
| Dec 31, 2015 | 0.00 | 0.28 |
| Dec 31, 2014 | 0.00 | 0.21 |
| Dec 31, 2013 | 0.00 | 0.17 |
| Dec 31, 2012 | 0.00 | 0.13 |
| Dec 31, 2011 | 0.00 | 0.15 |
| Dec 31, 2010 | 0.00 | 0.16 |
| Dec 31, 2009 | 0.00 | 0.18 |
| Dec 31, 2008 | 0.00 | 0.18 |
| Dec 31, 2007 | 0.00 | 0.13 |
| Dec 31, 2006 | 0.00 | 0.17 |
| Dec 31, 2005 | 0.00 | 0.15 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Texas Pacific Land Corp., debt to equity, long-term trends, comparison to industry (energy)
| Texas Pacific Land Corp. | Energy | |
|---|---|---|
| Dec 31, 2023 | 0.00 | 0.21 |
| Dec 31, 2022 | 0.00 | 0.22 |
| Dec 31, 2021 | 0.00 | 0.31 |
| Dec 31, 2020 | 0.00 | 0.44 |
| Dec 31, 2019 | 0.00 | 0.26 |
| Dec 31, 2018 | 0.00 | 0.25 |
| Dec 31, 2017 | 0.00 | 0.30 |
| Dec 31, 2016 | 0.00 | 0.35 |
| Dec 31, 2015 | 0.00 | 0.30 |
| Dec 31, 2014 | 0.00 | 0.22 |
| Dec 31, 2013 | 0.00 | 0.19 |
| Dec 31, 2012 | 0.00 | 0.15 |
| Dec 31, 2011 | 0.00 | 0.16 |
| Dec 31, 2010 | 0.00 | 0.17 |
| Dec 31, 2009 | 0.00 | 0.19 |
| Dec 31, 2008 | 0.00 | 0.19 |
| Dec 31, 2007 | 0.00 | 0.15 |
| Dec 31, 2006 | 0.00 | 0.19 |
| Dec 31, 2005 | 0.00 | 0.16 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).