Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
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- 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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Solvency Ratios (Summary)
Texas Pacific Land Corp., solvency ratios (quarterly data)
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).
- Financial Leverage Trend
- Over the observed periods from March 31, 2019, to September 30, 2024, financial leverage demonstrated a relatively stable pattern with minor fluctuations. Starting at 1.21 in early 2019, the ratio experienced a slight decline through 2019, reaching lows around 1.16 by September and December 2019.
- Entering 2020, the financial leverage ratio briefly increased to a peak of 1.22 in March but then generally trended downward or remained stable around 1.16 to 1.18 for the remainder of the year. In 2021, the ratio hovered close to 1.16 to 1.19, maintaining consistent leverage levels.
- During 2022, there was a small increase to a peak of 1.19 in mid-year followed by a decline towards 1.14 by December. The downward trend continued through 2023 and into 2024, where the leverage ratio decreased to a low of 1.09 in mid-2024 before slightly increasing again to approximately 1.12 by September 2024.
- Overall, the financial leverage ratio remained relatively low and stable throughout the time frame, suggesting consistent management of equity and debt proportion. The minor reductions observed in recent periods could indicate a gradual reduction in the use of financial leverage or an increase in equity relative to total assets.
- Absent Data for Debt-related Ratios
- It should be noted that no data was provided for key leverage ratios such as debt to equity, debt to capital, and debt to assets. As a result, a comprehensive assessment of debt structure, capital composition, and asset financing cannot be performed.
Debt Ratios
Debt to Equity
Texas Pacific Land Corp., debt to equity calculation (quarterly data)
| 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 | ||||||||
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| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Total debt | ||||||||||||||||||||||||||||||
| Total equity | ||||||||||||||||||||||||||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to equity1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||||||
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).
1 Q3 2024 Calculation
Debt to equity = Total debt ÷ Total equity
= ÷ =
2 Click competitor name to see calculations.
The financial data reveals several key trends in the equity position of the company over the span from March 31, 2019, to September 30, 2024. Since total debt and debt to equity ratios are not provided, the analysis focuses solely on the equity figures.
- Total Equity
- The total equity shows a consistent upward trend from 333,799 thousand US dollars in March 2019 to a peak of 1,206,421 thousand US dollars by September 2024. This represents a significant increase of over 260% in equity over the observed period.
- Notable observations include:
-
- 2019 to Early 2021
- Equity steadily increased from 333,799 thousand US dollars to 601,042 thousand US dollars by the third quarter of 2021. This period marks a strong growth phase, with equity almost doubling in about two and a half years.
- Late 2021 to End of 2022
- Equity continued to rise, reaching 772,887 thousand US dollars by December 2022, although there were some fluctuations, particularly a noticeable decrease in the second quarter of 2022 to 645,281 thousand US dollars, followed by a rebound.
- 2023 to Mid-2024
- This period demonstrates sustained equity growth, from approximately 829,051 thousand US dollars in March 2023 to 1,206,421 thousand US dollars in September 2024. This indicates a steady strengthening of the equity base over recent periods.
Overall, the equity figures exhibit a positive trajectory signifying increasing net assets or retained earnings. The lack of data on debt levels or the debt to equity ratio prevents a full assessment of the leverage or capital structure dynamics. However, the continuous growth in equity suggests potential internal capital accumulation or capital inflows contributing to a stronger balance sheet over the examined period.
Debt to Capital
Texas Pacific Land Corp., debt to capital calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Total debt | ||||||||||||||||||||||||||||||
| Total equity | ||||||||||||||||||||||||||||||
| Total capital | ||||||||||||||||||||||||||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to capital1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||||||
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).
1 Q3 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Click competitor name to see calculations.
The quarterly financial data reveals certain observable trends and notable patterns over the periods under review.
- Total capital (US$ in thousands)
- The total capital exhibits an overall upward trend from March 31, 2019, to September 30, 2024. Starting at approximately $333.8 million in the first quarter of 2019, there is steady growth with some fluctuations. The capital peaks around December 31, 2021, at about $651.7 million followed by slight volatility through 2022, evidenced by a dip to roughly $645.3 million mid-year before climbing again. Since early 2023, the total capital has demonstrated consistent growth, reaching above $1.05 billion by June 30, 2024. This indicates effective capitalization expansion over the period despite intermittent short-term decreases.
- Total debt and Debt to capital ratio
- No data is available for these metrics across all periods, preventing analysis of the company's leverage or debt management trends.
In summary, the company's capital base has expanded considerably with intermittent short-term dips, reflecting a generally strong capitalization trajectory. However, the absence of related debt information limits the ability to assess overall financial structure and risk related to leverage during these periods.
Debt to Assets
Texas Pacific Land Corp., debt to assets calculation (quarterly data)
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Total debt | ||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to assets1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||||||
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).
1 Q3 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
The analysis of the available quarterly financial data reveals a consistent upward trend in total assets over the observed periods. Starting from approximately 404,906 thousand US dollars at the end of March 2019, the total assets increased steadily to reach 1,175,569 thousand US dollars by the end of September 2024. This indicates substantial growth in the company's asset base over this time frame.
Despite the clear growth in total assets, the absence of reported data for total debt and debt to assets ratio limits the ability to assess the company's leverage or financial risk trends. Without these figures, it is not possible to determine the company's debt management strategy or its changes over time.
- Total Assets
- Showed a strong and consistent growth trajectory from Q1 2019 through Q3 2024, increasing approximately threefold, indicating asset accumulation and potentially expanded operational capacity or investments.
- Total Debt
- No data reported, preventing any insight into the company's indebtedness level or changes therein during the periods analyzed.
- Debt to Assets Ratio
- Not provided, hence the leverage position and risk profile concerning debt obligations cannot be evaluated.
Financial Leverage
Texas Pacific Land Corp., financial leverage calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||
| Total equity | ||||||||||||||||||||||||||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Financial leverage1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||||||||
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).
1 Q3 2024 Calculation
Financial leverage = Total assets ÷ Total equity
= ÷ =
2 Click competitor name to see calculations.
The financial data indicates a general upward trend in total assets over the observed periods, with fluctuations typically reflecting quarterly market or operational changes. Total assets started at approximately $405 million in March 2019 and increased to a peak of about $1.26 billion by March 2024 before a reduction to around $1.18 billion in September 2024. This demonstrates consistent asset growth with some volatility in the most recent quarters.
Total equity has also shown a significant increase throughout the periods, starting near $334 million in March 2019 and reaching a high of over $1.2 billion by September 2024, despite some fluctuations. Equity saw steady quarter-to-quarter growth with minor pullbacks, particularly around mid-2022 and late 2024, indicating periods of equity consolidation or distributions.
The financial leverage ratio remained relatively stable across all periods, fluctuating slightly around 1.1 to 1.22. The ratio peaked near 1.22 in March 2020 but generally showed a downward trend toward about 1.12 by September 2024. This trend suggests a modest reduction in the use of debt relative to equity over time, pointing to a cautious approach to leveraging or improved equity growth outpacing total assets.
- Total Assets
- Demonstrates steady growth from $404.9 million in early 2019 to over $1.25 billion by early 2024, with some quarterly variability. The peak in early 2024 was followed by a slight decline in subsequent periods.
- Total Equity
- Shows consistent increase paralleling asset growth, rising from $333.8 million in early 2019 to approximately $1.2 billion in late 2024. Minor fluctuations in 2022 and late 2024 suggest periods of equity adjustments or strategic financial management.
- Financial Leverage
- Maintains stability close to the range of 1.1-1.2, indicating a balanced capital structure with limited reliance on debt. The mild downward trend from early 2020 to late 2024 implies a decreasing leverage ratio, possibly reflecting stronger equity base growth or reduced borrowing.